Landmark Cars Reports 21.56% Revenue Growth in Q1FY26

Landmark Cars Limited reported consolidated total revenue from operations of Rs 1,415 crore for the first quarter of fiscal year 2026 (Q1FY26), marking a 21.56% year-on-year growth compared to Rs 1,164 crore in the corresponding period last year. The Ahmedabad-based automotive retailer disclosed these figures to stock exchanges on July 15, 2025, as part of its quarterly business update under SEBI regulations.

Vehicle sales, including agency sales and pre-owned vehicle sales, contributed Rs 1,180 crore to the total revenue, representing a 24.60% increase from Rs 947 crore in Q1FY25. After-sales service, spare parts, and other services generated Rs 235 crore, up 8.29% from Rs 217 crore in the previous year.

The company's revenue figures include sales through the Mercedes-Benz agency model, where customers place orders directly with Mercedes-Benz India Limited (MBIL) through Landmark Cars, with the company earning commission on each sale.

Landmark Cars expanded its operations in July 2025 by operationalizing two KIA workshops in Hyderabad and commencing Mercedes-Benz operations in Patna. The company expects these developments to impact Q2FY26 results.

The automotive retailer is strengthening its partnership with Mahindra and Mahindra through planned opening of a sales outlet in Kolkata and small KIA sales outlets in Hyderabad and Kolkata. Operations for MG Select are set to begin in Ahmedabad and Kolkata, with the luxury brand's products Cyberster and M9 EV scheduled for delivery by end of July 2025.

Investment firm B&K Securities recently released a coverage note on Landmark Cars, assigning a share price target of ₹820. The note highlighted the company’s proforma revenue growth of 11% between FY23 and FY25—almost twice the compound annual growth rate of India’s passenger vehicle market during the same period. Though newer outlets incurred early-stage losses, they are expected to reach break-even in Q1FY26 and turn profitable by year-end. Margin improvements are projected as the share of after-sales services from newer brands grows to match the 17% contribution seen in the company’s established brand portfolio.

The company targets achieving growth rates close to its historical performance in after-sales services for the current financial year through new workshop openings.