Landmark Cars Ltd
Landmark Cars Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Aryaman Thakker expects growth in the premium and luxury segment buyers due to the GST reduction, with increasing inquiries and higher variant sales. Management expects gross profit margins to improve by over 100 basis points in the second half of FY '26 compared to Q2 levels, indicating profitability gains.
From Landmark Cars Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Aryaman Thakker expects growth in the premium and luxury segment buyers due to the GST reduction, with increasing inquiries and higher variant sales.
- October showed a 12% YoY growth in 4-wheeler market registrations, indicating a positive industry outlook.
- Honda plans a fivefold volume increase over 5 years with 10 new models (mostly SUVs, hybrid, and electric) launching from 2026 through 2030; volumes expected to jump from 2027.
- BYD's volumes tripled YoY in 2025, with robust demand and local assembly plans under consideration; new stocks expected in January 2026.
- Renault India is seeing healthy growth with new model launches.
- Workshop and aftersales revenue expected to grow moderately; service revenue up 9-10% YoY.
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Profitability & Margins
See what Landmark Cars Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- No organic new workshop openings planned in H2 FY '26; recent openings include Patna Mercedes-Benz and Kia Hyderabad workshops.
- One or two small new outlets expected (e.g., Bhopal Mercedes-Benz, small Mahindra outlet in Hyderabad).
- Discussions ongoing with BYD for potential future outlet openings; no immediate plans for expansion but evaluating opportunities.
- Strategic acquisitions are a key part of growth, with the company having added 25 new outlets last year and aiming to continue acquiring strategic assets annually.
- The company views acquisition as a plug-and-play model for expanding capacity efficiently.
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Top-ranked in Automobiles
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Landmark Cars Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The transcript does not explicitly mention the current or expected order book or pending orders for Landmark Cars Limited.
- However, Sanjay Thakker and Aryaman Thakker noted robust demand especially post-GST rate rationalization.
- November bookings have been far in excess of expectations as of the 11th-12th of the month, indicating strong order momentum.
- BYD's demand is described as robust with the brand crossing 1,000 unit sales in October and running out of stock for the Sealion model.
- New car sales for Mercedes-Benz were hit by a period of zero sales between August 15 and September 22 due to billing directly from factory to customers, which affected order fulfillment temporarily.
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Landmark Cars Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹15 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Landmark Cars's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q2 FY24 earnings call →
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Frequently Asked Questions
What were Landmark Cars Ltd Q2 FY26 results?
Aryaman Thakker expects growth in the premium and luxury segment buyers due to the GST reduction, with increasing inquiries and higher variant sales. Management expects gross profit margins to improve by over 100 basis points in the second half of FY '26 compared to Q2 levels, indicating profitability gains.
What is Landmark Cars Ltd share price analysis?
Landmark Cars Ltd currently shows a neutral. The stock trades at a P/E of 41.0 with a market cap of ₹1,931 Cr. Investors should review the full earnings analysis for detailed insights.
Is Landmark Cars Ltd planning capital expenditure?
No organic new workshop openings planned in H2 FY '26; recent openings include Patna Mercedes-Benz and Kia Hyderabad workshops.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.