Landmark Cars IPO - Investment Rationale, Key Strategies, Risks, Valuations, Financials: Anand Rathi


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Landmark Cars Ltd. are a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. They also have a commercial vehicle dealership with Ashok Leyland Ltd. in India.

They have a presence across the automotive retail value chain, including sales of new vehicles, after-sales service and repairs (including sales of spare parts, lubricants and accessories), sales of pre-owned passenger vehicles and facilitation of the sales of third-party financial and insurance products.

They started their operations and opened their first dealership for Honda in CY1998, and they have expanded their network to include 112 outlets in eight Indian states and union territories, comprised of 59 sales showrooms and outlets and 53 after-sales service and spares outlets, as of June 30, 2022.

They are focused on the premium and luxury automotive segments. They were the number one dealer in India for Mercedes in terms of retail sales for Fiscal 2022, number one dealer in India for Honda and Jeep in terms of wholesale sales for Fiscal 2022 and were the top contributor to Volkswagen retail sales for calendar year 2021.

In addition, they were the third largest dealership in India for Renault in terms of wholesale sales contribution for calendar year 2021.

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