Landmark Cars shares zoom up to 12% to hit one-month high on M&M, BYD store additions

The latest market report highlights that Shares of Landmark Cars rose nearly 12% to an over one-month high of Rs 537.85 apiece on September 29 even amid broader market softness. The move came after the firm expanded its business by adding a new showroom for Chinese carmaker BYD in Noida and one for Mahindra & Mahindra in Kolkata. With this, Landmark Cars' showroom count for Mahindra is 12 and for BYD is 11.

On Tuesday, the stock snapped its four-session downward run during which it shed 7%. Over 12.5 million shares of the firm have changed hands till late afternoon trade, which is over 12 times its three-month average of daily traded volumes.

At 2:55 pm on September 29, Landmark Cars shares were trading 4% elevated at Rs 495.95 apiece.

"Landmark Cars is BYD’s largest retail and service partner in India, and the new facility in Noida further expands its network with the brand. Similarly, the new Mahindra & Mahindra location in Kolkata helps to strengthen the Firm’s presence with Mahindra & Mahindra in the region. These additions align with Landmark Cars' long-term strategy to deepen engagement with existing OEM partners and strengthen its presence across key geographies," stated the firm in a stock exchange filing.

The firm’s EV portfolio contributed around 30% of new car sales topline in Q1FY27, with BYD and Mahindra & Mahindra among the leading EV brands within firm’s portfolio. With these additions, Landmark Cars will have 12 outlets for Mahindra & Mahindra and 11 outlets for BYD, bringing the total count to 143 outlets across India. Landmark Cars stated it "stays focused on building long-term, scalable relationships with its OEM partners via network expansion and deeper market presence".

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

Incred Equities recently maintained its 'Buy' rating on the stock with target price of Rs 652.

"Landmark Cars Ltd delivered its strongest-ever first-quarter performance in 1QFY27, with proforma topline rising 22.4% YoY to Rs 1,733 crore and noted topline from operations up 22.7% YoY to Rs 1,302 crore, aided by post-GST 2.0 industry momentum and the timely maturing of outlets set up over FY24-26. Expansion was led by the new vehicle sales & allied vertical, where proforma topline grew 24.1% YoY to Rs 1,465 crore on 16% volume expansion and a 7.1% YoY gain in ASP to Rs 22.46 lakh.

"Mercedes-Benz grew 20.7% YoY, while the four newer brands – BYD, MG, M&M and Kia – lifted their combined share of new car sales topline to 38% from 31% in FY26, with the EV portfolio now contributing 30%. Gross margin compressed 141 bps YoY to 15.47% on an adverse sales-versus-service topline mix; After-sales topline grew 13.8% YoY to Rs 267 crore with EBITDA margin at 18.4%, though services volume expansion of 4.8% YoY stays the key monitorable as contribution from new OEMs will start to show up. Working capital discipline held, with inventory at 33 days versus 42 days in Jun-25 and net cash flow from operating activities of Rs 58 crore, implying 0.81x CFO/EBITDA conversion. We maintain a BUY rating on the stock with an increased target price of Rs 652 (628 earlier), based on 20x FY28E EPS of Rs 32.6 increased from 31.4," stated the brokerage.