Landmark Cars Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 19 Jul 2026 | Automobiles | Market Cap: ₹2.1K Cr

Landmark Cars expects continued growth supported by new model launches from key OEMs like Mercedes-Benz (V Class, CLA), VW, MG, Renault Duster, and Mahindra's XUV models. - The company has demonstrated capacity to rapidly and profitably grow when opportunities arise, with a 20% growth in calendar year 2025 vs. Management is optimistic about future growth, standing at a threshold of greater profitability and bigger opportunities (Page 17).

From Landmark Cars Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹505

Market Cap

₹2.1K Cr

P/E Ratio

45.1

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Landmark Cars Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net profit ₹15 Cr.

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📊 Revenue & Sales Performance

→Landmark Cars expects continued growth supported by new model launches from key OEMs like Mercedes-Benz (V Class, CLA), VW, MG, Renault Duster, and Mahindra's XUV models.
→The company has demonstrated capacity to rapidly and profitably grow when opportunities arise, with a 20% growth in calendar year 2025 vs. industry growth of 10%.
→Aftersales business is ramping up, contributing to revenue growth with expectations to return to historic growth rates.
→With the EU Free Trade Agreement (FTA), opportunities for imported vehicles and parts are expected to grow, potentially boosting volumes and aftersales revenue over the medium to long term.
→Management indicates good visibility for growth but refrains from giving specific guidance for FY '27 until new business plans and OE models finalize.
→Market sentiment is positive, with disciplined cost controls and inventory management supporting sustainable growth ahead.

📈 Profitability & Margins

→Management is optimistic about future growth, standing at a threshold of greater profitability and bigger opportunities (Page 17).
→They expect an increase in gross profit (GP) margin by around 1% by Q4 FY26 and a continuous improvement driven by a better sales and aftersales mix (Page 16).
→Aftersales business, which offers higher GP and EBITDA margins, is expected to grow steadily with newer workshops ramping up, supporting revenue and margin expansion (Pages 6-16).
→EBITDA margins are improving quarter-on-quarter, with ambitions to return to previous peak EBITDA margin levels (~7%) by FY27, supported by growing aftersales and new model launches (Page 9).
→The company is focused on disciplined cost management and working capital efficiency, supporting cash generation and profitability (Pages 4-6).
→Growth rates of 20%+ were achieved recently and management expressed confidence in sustaining or accelerating growth as new models and OEM relationships mature (Page 9).
→Detailed growth and margin guidance for FY27 will be provided in the next quarterly update (Page 9).

🏗️ Capital Expenditure Plans

→Nine-month capex for Landmark Cars Limited is INR 50 crores (Surendra Agarwal, Page 14).
→No specific big-ticket or large expansions planned immediately; focus is on consolidating existing operations (Page 9).
→Management is currently in talks with OEMs for business plans and new model launches for FY '27; more clarity and potential investments expected next quarter (Pages 8-9, 14).
→Rapid expansion of outlets has largely stabilized; future expansion likely to be tactical and selective rather than large scale (Page 8).
→New workshops and outlets are in ramp-up phase, with gradual improvement expected (Page 7).
→Long-term opportunities exist with new product launches from partners like Mercedes and growth from brands like BYD, Mahindra, and Renault, implying potential future strategic investments (Page 4).

💰 Fundraising & Capital Structure

- There is no explicit mention of any current or planned fundraising through debt or equity in the provided transcript. - The management did not disclose any major expansions or big-ticket investments requiring new capital. - Sanjay Thakker mentioned being "at will" to expand and grow organically or through inorganic means, but no specific fundraising plans were shared. - Capex guidance indicated INR50 crores for the nine months, implying manageable ongoing investments without immediate capital raising needs. - For specific guidance on growth and margins for FY '27, management preferred to wait until next quarter before providing detailed outlooks, suggesting no immediate funding plans. In summary, no current or future fundraising through debt or equity was revealed during the call.

📋 Order Book & Pipeline

The transcript does not explicitly mention the current or expected orderbook or pending orders for Landmark Cars Limited. However, relevant insights include: - The company has a healthy pipeline of new model launches in the coming quarter (Mercedes-Benz V Class, CLA, VW Tayron, MG Majestor, Renault Duster). - Strong booking momentum was noted for Mahindra's XEV 9S and XUV 7XO, with over 93,000 bookings recorded in a few hours. - BYD showed robust volume growth despite supply constraints, with supplies expected to regularize from April 2026. - Renault deliveries for the new Duster are expected to begin from April 2026. - Jeep plans new model introductions from 2027, indicating a future order backlog may build. - Overall, demand sentiment is positive, supported by ongoing product launches and OEM confidence. No specific numerical orderbook or pending order figures were disclosed.

Key Metrics

What Landmark Cars's management said in earlier quarters

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Frequently Asked Questions

What were Landmark Cars Ltd Q3 FY26 results?

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?

Nine-month capex for Landmark Cars Limited is INR 50 crores (Surendra Agarwal, Page 14).

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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.