Landmark Cars LimitedQ1 FY27 Results & Financial Update
Landmark Cars Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,302.36 Cr, PAT ₹14.55 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Landmark Cars price & chart
Market price₹418.00
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Landmark Cars Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Landmark Cars Limited delivered its strongest first-quarter performance to date in Q1 FY27, achieving record turnover and operating profitability supported by favorable industry momentum following GST 2.0 reforms. Consolidated reported revenue from operations reached Rs. 1,302.36 crore (Rs. 13,024 million), reflecting a 22.7% increase compared to Q1 FY26, while proforma revenue from operations stood at Rs. 1,732.5 crore, up 22.4% year-on-year.
Operating profitability expanded during the quarter, with reported EBITDA climbing 13.7% year-on-year to Rs. 75.24 crore (Rs. 752.4 million), driven by disciplined cost management and the maturation of previously established outlet capacity. Reported profit before tax reached Rs. 19.151 crore, representing a 93.7% jump compared to Q1 FY26.
Gross profit margin for Q1 FY27 was recorded at 15.72% on reported revenues, compared to 17.37% in Q1 FY26 and 17.10% in Q4 FY26. Management noted that the moderation in gross margin was primarily attributable to changes in the sales and service revenue mix, the accounting timing of annual incentives recognized in previous periods, and Ind AS gains recorded in the comparative period.
Despite gross margin pressures, the company maintained its EBITDA margin close to previous fiscal levels by successfully driving down personnel and other operating expenses as a percentage of proforma revenue through an ongoing cost rationalization program.
The after-sales division demonstrated continued resilience, with the total number of services expanding to 98,281 during the quarter and generating reported after-sales revenue of Rs. 267.0 crore alongside an after-sales EBITDA of Rs. 49.2 crore. Average revenue per vehicle serviced rose to Rs. 27,172 compared to Rs. 25,029 in Q1 FY26.
The electric vehicle portfolio continued to gain strategic traction, contributing approximately 30% of total new car sales revenue in Q1 FY27. Internal company data across sampled brands indicated that EV customers exhibit higher annual running distances and increased service visit frequencies compared to internal combustion engine counterparts.
01 · Business model
What does Landmark Cars do?
Landmark Cars Limited operates as a leading premium and luxury automotive retail chain in India, representing prominent original equipment manufacturers across multiple locations and formats. The company's portfolio covers sales showrooms, after-sales service workshops, and delivery operations spanning internal combustion engine vehicles, hybrid models, and battery electric vehicles.
The business generates revenue streams through new car sales, pre-owned car transactions, vehicle servicing, repair works, spare parts distribution, and allied financial and insurance services. Landmark collaborates with major global and domestic automotive brands including Mercedes-Benz, Honda, Volkswagen, Renault, Jeep, Citroën, Ashok Leyland, BYD, MG Motor, Mahindra & Mahindra, and Kia.
With an operational history spanning over 27 years, Landmark manages a widespread network encompassing multiple states and urban centers across India. The company maintains an extensive infrastructure of sales outlets and after-sales service touchpoints to serve a growing base of vehicle owners.
The economic model is anchored in building long-term customer relationships through comprehensive vehicle life-cycle management, where high-margin after-sales and service revenues provide a resilient, non-cyclical cash flow buffer alongside new vehicle sales volumes.
02 · Historical context
What shaped the business before this quarter
During the period leading up to FY27, Landmark expanded its brand portfolio from 8 to 11 brands by onboarding three major new high-growing brands, which collectively contributed approximately 20% to total proforma revenues in FY26.
The company added approximately 18% of its total outlets over the three fiscal years prior to Q1 FY27, funding the expansion primarily through internal accruals while improving operating cash flow conversion.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,302.36 Cr |
| Total income | ₹1,305.60 Cr |
| Profit before tax | ₹19.15 Cr |
| Profit after tax | ₹14.55 Cr |
| EPS | ₹3.51 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Reported revenue from new vehicle sales and allied businesses expanded to Rs. 1,035.3 crore in Q1 FY27 from Rs. 827.0 crore in Q1 FY26, supported by an average selling price per new vehicle sold of Rs. 22.46 lakh.
After-sales revenue rose to Rs. 267.0 crore in Q1 FY27 compared to Rs. 234.7 crore in Q1 FY26, driven by an increased service volume of 98,281 vehicles and an average revenue per vehicle serviced of Rs. 27,172.
What drove margins
Reported gross profit margin contracted to 15.72% in Q1 FY27 from 17.37% in Q1 FY26, weighed down by shifts in product and service mix, annual incentive timing differences, and base-period Ind AS effects.
Personnel expenses and other operating expenses were held in check as a percentage of proforma revenue, with personnel expenses at 4.0% and other expenses at 3.5% of proforma revenue in Q1 FY27, neutralizing gross margin headwinds on EBITDA.
Finance costs for Q1 FY27 stood at Rs. 19.754 crore (Rs. 197.5 million on reported reconciliation), reflecting a minor decrease from Rs. 20.45 crore in Q1 FY26 as working capital efficiency improved.
05 · Demand, customers & order book
Where demand is coming from
The company's cumulative customer base exceeded 550,000 vehicle owners across its operating regions.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Mercedes-Benz maintained its position as the core volume contributor, accounting for 37% of new car sales contribution to proforma revenue and 39% of after-sales revenue in Q1 FY27 across 24 outlets.
New high-growing brands such as BYD and MG expanded their revenue contributions, with BYD accounting for 12% of new car sales contribution to proforma revenue and MG contributing 12% in Q1 FY27.
Honda contributed 6% to new car sales proforma revenue, Volkswagen 5%, Jeep & Citroën 3%, and Ashok Leyland 8% through 8 outlets in Q1 FY27.
Geography and market mix
Landmark operated 141 total outlets across 29 cities and 12 states in India as of Q1 FY27, comprising 77 sales showrooms and 64 workshops.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Management highlighted that newly set-up outlets across recent expansion phases are maturing on schedule, contributing to operational leverage.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Landmark established an industry-first business arrangement with EV charging network provider ChargeZone, offering customer wallet credits and securing a recurring revenue share on charging transactions from onboarded EV customers.
Internal analysis across sampled brands indicated that EV vehicle running distances are 37% to 62% higher and visit frequencies are 25% to 64% higher than ICE vehicles, supporting stable long-term after-sales engagement.
09 · Reported developments
What changed operationally
Achieved the strongest first-quarter performance in the company's history with highest-ever turnover and EBITDA levels.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash flows from operating activities reached Rs. 57.5 crore (Rs. 575 million) for Q1 FY27, reflecting strong operational cash conversion.
Landmark's inventory days stood at 33 days at the end of June 2026, comparing favorably against the broader industry average of 34 days reported by FADA.
11 · Management guidance & targets
What management is targeting from here
Management stated that upcoming quarters look promising, supported by strong market momentum, the timely maturing of newly established outlets, and a robust pipeline of upcoming model launches.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Upcoming Model Launches
The company outlined a pipeline of upcoming vehicle launches scheduled for late 2026 and early 2027, including the M&M Scorpio N Facelift (August 2026), KIA Sorento (September 2026), MG 520 and MG IM6 (October 2026), Mercedes-Benz AMG GT 4 Door Coupe (October 2026), Renault Duster Hybrid (November 2026), BYD Seal U (December 2026), and Honda Alpha 0 (January 2027).
13 · Previous-quarter changes
What changed since the previous quarter
Reported revenue from operations moved from Rs. 1,278.5 crore in Q4 FY26 to Rs. 1,302.36 crore in Q1 FY27, representing a 1.9% sequential increase.
14 · Key Q&A
The quarter, answered directly
What does Landmark Cars do?
Landmark Cars Limited operates as a leading premium and luxury automotive retail chain in India, representing prominent original equipment manufacturers across multiple locations and formats. The company's portfolio covers sales showrooms, after-sales service workshops, and delivery operations spanning internal combustion engine vehicles, hybrid models, and battery electric vehicles.
What is the clearest takeaway from Q1 FY27?
Landmark Cars Limited delivered its strongest first-quarter performance to date in Q1 FY27, achieving record turnover and operating profitability supported by favorable industry momentum following GST 2.0 reforms. Consolidated reported revenue from operations reached Rs. 1,302.36 crore (Rs. 13,024 million), reflecting a 22.7% increase compared to Q1 FY26, while proforma revenue from operations stood at Rs. 1,732.5 crore, up 22.4% year-on-year.
What drove revenue or demand?
Reported revenue from new vehicle sales and allied businesses expanded to Rs. 1,035.3 crore in Q1 FY27 from Rs. 827.0 crore in Q1 FY26, supported by an average selling price per new vehicle sold of Rs. 22.46 lakh.
What mattered most for margins or profitability?
Reported gross profit margin contracted to 15.72% in Q1 FY27 from 17.37% in Q1 FY26, weighed down by shifts in product and service mix, annual incentive timing differences, and base-period Ind AS effects.
What changed operationally beyond the headline numbers?
Management highlighted that newly set-up outlets across recent expansion phases are maturing on schedule, contributing to operational leverage.
What is management guiding or targeting from here?
Management stated that upcoming quarters look promising, supported by strong market momentum, the timely maturing of newly established outlets, and a robust pipeline of upcoming model launches.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Outlet Maturity Progress: Monitor the revenue ramp-up and margin contribution from recently commissioned outlets and new brand partnerships.
- 02
Model Launch Execution: Track the commercial rollout and customer reception of upcoming OEM model launches scheduled through the remainder of FY27.
- 03
EV Charging Revenue Realisation: Observe the initial financial contribution and customer onboarding metrics from the ChargeZone partnership.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.