External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>Landmark Cars’ (LMC) EBITDAM at 5.6%, was down 20bps QoQ, led by weaker gross margins as service revenues at new outlets is in ramp-up phase.</li><li>LMC added 23 outlets in 9MFY25 (~17% of total outlet count), which added to revenue growth (revenue +25% YoY) and helped diversify with high-growth brands such as M&amp;M, Kia, MG and BYD.</li><li>LMC’s revenue from new outlets in Q3 was ~12% of total, at INR 1.9bn (proforma).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Landmark Cars’ (LMC) EBITDAM at 5.6%, was down 20bps QoQ, led by weaker gross margins as service revenues at new outlets is in ramp-up phase.LMC added 23 outlets in 9MFY25 (~17% of total outlet count), which added to revenue growth (revenue +25% YoY) and helped diversify with high-growth brands such as M&amp;M, Kia, MG and BYD.LMC’s revenue from new outlets in Q3 was ~12% of total, at INR 1.9bn (proforma).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Landmark Cars - New Store Additions to Drive Growth Ahead

India

Landmark Cars is a prominent multi-brand automotive retail company in India, primarily focusing on the premium and luxury segments. The company sells new and pre-owned vehicles, provides after-sales services and spare parts, and distributes luxury items and car care products. Headquartered in Ahmedabad, Gujarat, the company was founded in 1998.

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