Landmark Cars Ltd Q3 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 26 Aug 2026 | Automobiles | Market Cap: ₹2.1K Cr
October and December months were strong for auto retail in India, contributing to revenue growth. The company expects gradual profitability improvement in new stores, with existing profitable brands like Honda, Volkswagen, and Renault Mumbai supporting margins (Page 17).
From Landmark Cars Ltd's Q3 FY25 earnings-call transcript · updated 26 Aug 2026.
Price
₹528
Market Cap
₹2.1K Cr
P/E Ratio
45.1
How does Landmark Cars Ltd rank in Automobiles?
Compare Landmark Cars Ltd against every Automobiles company this quarter on revenue, margins and earnings-call signals.
Landmark Cars Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹15 Cr.
Full financials →📊 Revenue & Sales Performance
- →October and December months were strong for auto retail in India, contributing to revenue growth.
- →Industry volume growth for calendar year '24 was about 4%, with similar growth expected ahead.
- →Landmark expects double-digit growth in service revenue as new workshops for brands like Mahindra, MG, and Kia ramp up fully.
- →New outlets, especially for Mahindra, Kia, and MG, are ramping up, contributing positively to revenue and service business.
- →No large-scale store additions planned for next year; focus is on optimizing existing outlets and profitability rather than rapid expansion.
- →Service revenue guidance for FY 2026 is around INR 1,000 crores, indicating healthy growth expectations.
- →Gradual improvement from new brands’ profitability and higher utilization of the new cars business is expected to support revenue growth.
- →Stable pricing and improved margins anticipated as inventory levels normalize and discount pressures ease.
📈 Profitability & Margins
- →The company expects gradual profitability improvement in new stores, with existing profitable brands like Honda, Volkswagen, and Renault Mumbai supporting margins (Page 17).
- →Profitability in subsidiaries is near breakeven, with new stores improving steadily and Q4 expected to see better profitability (Page 17).
- →Service business growth is anticipated to return to historical double-digit CAGR (~15%) as new workshops ramp up to full capacity (Page 16).
- →The company targets achieving around 2% PAT margin on a steady-state basis from existing stores, indicating upward profit potential (Page 13).
- →Capex is expected to reduce substantially next year (INR15-25 crore range), implying better free cash flow (Page 12).
- →Revenue momentum continued strong in Q3 FY25 with highest quarterly EBITDA in last 8 quarters, supported by new outlets and festive season (Page 5).
- →EV penetration growth is expected but service revenue from EVs may be ~13-14% lower affecting margins slightly (Page 14).
- →Store openings to moderate, focus on optimizing current stores for profitability before further expansion (Pages 11-12).
🏗️ Capital Expenditure Plans
- →Capex for the 9 months ended December 2024 was around INR 125 crores, including INR 70 crores for 23 new stores and additional capex for existing stores and vehicle purchases.
- →Capex for the 23 new stores was approx. INR 65-70 crores, plus around INR 5 crores in deposits to landlords and additional stock inventory.
- →There is an expected substantial reduction in capex for the coming year, estimated between INR 15-25 crores, but the company will decide based on market conditions.
- →No aggressive store expansion planned for FY 2025; only selective new store openings if very attractive opportunities arise.
- →Most refurbishment of existing Mercedes-Benz outlets (such as MAR20 CI guidelines) has already been done, with no major further capex anticipated.
- →The company aims to better utilize existing store infrastructure instead of significantly increasing capex in the near term.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript.
- →Sanjay Thakker mentions that most of the recent expansion (around 25 stores) was funded through internal accruals and working capital, with capex around INR 75 crores, which was within budget.
- →The company has been reducing its debt quarter-on-quarter with an overall debt of INR 560 crores, including INR 150 crores interest-free debt from Mercedes-Benz demo cars.
- →Capex plans for the coming year are uncertain and will be based on how the market behaves; no aggressive store expansion or large capital requirement is planned as of now.
- →Sanjay states there is no specific compulsion for capex in the near term, indicating no immediate need for external fundraising.
- →Overall, current emphasis is on operational efficiency and profitability rather than raising funds.
📋 Order Book & Pipeline
Key Metrics
Frequently Asked Questions
What were Landmark Cars Ltd Q3 FY25 results?
October and December months were strong for auto retail in India, contributing to revenue growth. The company expects gradual profitability improvement in new stores, with existing profitable brands like Honda, Volkswagen, and Renault Mumbai supporting margins (Page 17).
What is Landmark Cars Ltd share price analysis?
Landmark Cars Ltd currently shows a neutral. The stock trades at a P/E of 45.1 with a market cap of ₹2,122 Cr. Investors should review the full earnings analysis for detailed insights.
Is Landmark Cars Ltd planning capital expenditure?
Capex for the 9 months ended December 2024 was around INR 125 crores, including INR 70 crores for 23 new stores and additional capex for existing stores and vehicle purchases. - Capex for the 23 new stores was approx.
Keep Landmark Cars Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.