Landmark Cars Ltd Share Price – NSE  /  BSE

Retail, Small Cap

Landmark Cars announced that the Board of Directors of the Company at its meeting held on 23 May 2024, inter alia, have recommended the final dividend of Rs 1.5 per equity Share (i.e. 30%) , subject to the approval of the shareholders.

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Net profit of Landmark Cars declined 56.03% to Rs 10.58 crore in the quarter ended March 2024 as against Rs 24.06 crore during the previous quarter ended March 2023. Sales rose 1.19% to Rs 863.97 crore in the quarter ended March 2024 as against Rs 853.80 crore during the previous quarter ended March 2023.

For the full year,net profit declined 33.71% to Rs 56.01 crore in the year ended March 2024 as against Rs 84.49 crore during the previous year ended March 2023. Sales declined 2.79% to Rs 3287.89 crore in the year ended March 2024 as against Rs 3382.35 crore during the previous year ended March 2023.

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Landmark Cars will hold a meeting of the Board of Directors of the Company on 23 May 2024

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These outlets will be established in one of the wholly owned subsidiaries of Landmark Cars, namely, Landmark Mobility Private Ltd.

The company already has three Mahindra & Mahindra outlets in West Bengal.

This strategic initiative underscores Landmark's commitment to solidifying its presence in the vibrant Hyderabad market. Mahindra & Mahindra will be the third dealership for Landmark Cars in Hyderabad, after Mercedes-Benz and Kia.

This is in line with the company’s strategy of horizontal expansion with fast-growing, premium brands and vertical expansion by going deep into an identified geography,” Landmark Cars said in a statement.

Landmark Cars is the leading premium automotive retail business in India with dealerships for Mercedes Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra and MG Motors. The company also caters to the commercial vehicle retail business of Ashok Leyland in India.

The company reported 28.85% decline in consolidated net profit to Rs 184.81 crore in Q3 FY24 as compared with Rs 258.31 crore in Q3 FY23. Revenue from operations increased 9.49% to Rs 959.24 crore in Q3 FY24 from Rs 876.13 crore in Q3 FY23.

The scrip had risen 0.56% to end at Rs 768.20 on the BSE on Friday.

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