Landmark Cars Limited , a leading automotive retailer in India, has announced its financial results for the second quarter of fiscal year 2026, showcasing significant growth in revenue and profitability.

Financial Highlights

For the quarter ended September 30, 2025 (Q2 FY2026), Landmark Cars reported:

• Consolidated Revenue: ₹12,109.17 million, up 33.5% year-over-year (YoY)
• Profit After Tax: ₹45.02 million, compared to a loss of ₹10.24 million in Q2 FY2025
• EBITDA: ₹591.55 million, an increase of 8.0% YoY

Half-Year Performance

For the half-year period (H1 FY2026), the company achieved:

• Total Income: ₹22,827.02 million, a 30.9% increase from ₹17,433.49 million in H1 FY2025
• Profit After Tax: ₹88.68 million, up 134.9% from ₹37.76 million in the previous year

Operational Highlights

• New Vehicle Sales: The company's proforma revenue from new vehicle sales and allied businesses reached ₹14,031 million in Q2 FY2026, up from ₹10,391 million in Q2 FY2025.
• After-Sales Business: Revenue from after-sales services grew to ₹2,541 million in Q2 FY2026, compared to ₹2,286 million in the same quarter last year.
• Average Selling Price: The average selling price for new vehicles increased to ₹23.16 lakh in Q2 FY2026, up from ₹20.20 lakh in Q2 FY2025.

Strategic Developments

1. Agency Model with Mercedes-Benz: Landmark Cars has transitioned to an agency model for Mercedes-Benz sales, where the company earns commission on each sale made directly by Mercedes-Benz India Private Limited (MBIL) to customers.

2. Expansion: The company opened two new outlets during the quarter, bringing its total to 75 showrooms and 65 workshops across India.

3. New Subsidiary: Landmark Luxury Retail Private Limited, a wholly-owned subsidiary, was incorporated on August 14, 2025, for retail trading of luxury items.

4. Acquisition Plans: Landmark Cars has executed a Share Purchase Agreement to acquire the remaining 17% equity shares of its subsidiary, Landmark Cars (East) Private Limited, for ₹141.67 million.

Management Commentary

Sanjay Thakker, Chairman and Executive Director of Landmark Cars Limited, stated, "Our Q2 FY2026 results demonstrate strong growth across all business segments. The transition to the agency model with Mercedes-Benz has been smooth, and we're seeing positive impacts on our revenue streams. Our focus on expanding our network and diversifying into luxury retail is aligned with our long-term growth strategy."

Future Outlook

Landmark Cars remains optimistic about its future prospects, citing a robust product pipeline from partner brands and sustained demand driven by recent GST rate reductions. The company's strategic initiatives, including the expansion of its dealership network and entry into luxury retail, are expected to drive growth in the coming quarters.

As Landmark Cars continues to strengthen its position in the Indian automotive retail market, investors and industry observers will be watching closely to see how these strategic moves translate into long-term value creation for the company and its shareholders.

Landmark Cars Limited, a leading automotive retailer in India, has reported robust financial results for the second quarter, showcasing resilience amid the GST 2.0 transition period. The company's strategic focus on premium automotive brands and expansion efforts have contributed to its strong performance.

Q2 Financial Highlights

Landmark Cars demonstrated significant growth in the quarter ended September 30:

• Proforma Revenue surged by 30.7% year-over-year to ₹16,572.00 million
• Reported Revenue increased by 33.5% to ₹12,109.00 million
• Gross Profit rose by 17.0% to ₹1,958.00 million
• Reported EBITDA grew by 8.0% to ₹592.00 million
• Profit After Tax (PAT) showed a remarkable increase of 353.8% to ₹15.00 million

H1 Performance

The company's half-yearly results also reflected strong growth:

• Proforma Revenue up by 26.4% year-over-year to ₹30,723.00 million
• Reported Revenue increased by 30.7% to ₹22,726.00 million
• Gross Profit grew by 15.9% to ₹3,802.00 million
• Reported EBITDA rose by 19.9% to ₹1,253.00 million
• PAT surged by 134.9% to ₹89.00 million

Strategic Expansion and Brand Portfolio

Landmark Cars has been actively expanding its network across premium automotive brands. The company's portfolio includes Mercedes-Benz, Volkswagen, Honda, MG, and BYD. Notably, three new partner brands - MG, Kia, and M&M - contributed 19% to the total revenue in H1, indicating successful integration and growth of these newer partnerships.

GST 2.0 Transition and Market Adaptation

The introduction of GST 2.0 in September marked a significant shift for the Indian automotive industry. Despite short-term challenges, Landmark Cars has adapted well to the new tax structure. The company offered strategic discounts and incentives to boost sales during the transition period, successfully minimizing overall cess liability.

After-Sales Business Performance

The after-sales business continues to be a strong contributor to Landmark's success:

• After-sales revenue for H1 reached ₹4,888.00 million
• EBITDA for the after-sales segment in H1 was ₹838.00 million
• The company serviced 191,359 vehicles in H1, up from 171,842 in the previous H1

Future Outlook

Landmark Cars remains optimistic about future growth, citing several factors:

1. Robust product pipeline from partner brands
2. Sustained demand driven by GST rate reduction
3. Expansion of the electric vehicle (EV) portfolio
4. Focus on margin recovery and scaling up after-sales services

The company expects these factors to drive continued growth and profitability in the coming quarters.

Management Commentary

Sanjay Thakker, Chairman and Executive Director of Landmark Cars, commented, "Our Q2 and H1 results demonstrate the strength of our business model and our ability to navigate market transitions effectively. The GST 2.0 implementation, while presenting initial challenges, is expected to catalyze broader industry growth. We're particularly encouraged by the performance of our new brand partnerships and the consistent growth in our after-sales business."

Landmark Cars' strong performance amid the GST transition underscores its resilience and strategic positioning in the Indian automotive retail sector. As the company continues to expand its brand portfolio and optimize operations, it appears well-positioned to capitalize on the evolving dynamics of the Indian auto market.