Landmark Cars Ltd - Stock Valuation and Financial Performance

BSE: 543714 | NSE: LANDMARK | Automobiles - Dealers & Distributors | Small Cap

Landmark Cars Share Price

725 24.00 3.42%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Landmark Cars

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

andmark Cars stock performance -

mw4me loader
P/E Ratio (SA):
95.21
Market Cap:
3,034.9 Cr.
52-wk low:
504.1
52-wk high:
902

Is Landmark Cars Ltd an attractive stock to invest in?

1. Is Landmark Cars Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Landmark Cars Ltd is a average quality company.

2. Is Landmark Cars Ltd undervalued or overvalued?

The key valuation ratios of Landmark Cars Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Landmark Cars Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Landmark Cars Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Landmark Cars:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Landmark Cars Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -7.3%14.3%10.7%7%9.5%4.5%2.1%6.2%11.2%12.7%-
Value Creation
Index
-1.50.0-0.2-0.5-0.3-0.7-0.9-0.6-0.2-0.1-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 0455581525695765658561681484569
Sales YoY Gr.-NA27.8%-9.7%32.5%10%-13.9%-14.9%21.5%-28.9%-
Adj EPS -4.4115.63.610.41.50.24.19.712.97.7
YoY Gr.-NA-49.1%-35.4%186.7%-85.2%-89.6%2487.5%133.1%33.8%-
BVPS (₹) 2.152.245.849.459.264.362.767.176.5118.5121.3
Adj Net
Profit
-5.513.68.95.716.45.70.615.235.451.232
Cash Flow from Ops. -18.4-32.923.435.645.126.113.74452.652.7-
Debt/CF from Ops. -4.7-2.813.12.95.610.82.21.41.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA-7%-9.8%-28.9%
Adj EPS NA4.5%332.1%33.8%
BVPS56.8%14.9%23.6%54.9%
Share Price - - - 42.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-89.140.4137.619.13.40.26.213.213.46.4
Op. Profit
Mgn %
05.53.63.14.73.13.16.99.819.917.1
Net Profit
Mgn %
031.51.12.40.70.12.75.210.65.6
Debt to
Equity
34.11.40.31.41.40.60.60.40.30.2-
Working Cap
Days
096108130107112129142105194106
Cash Conv.
Cycle
066374858485352315041

Recent Performance Summary

Net Profit is growing at healthy rate in last 3 years 332.12%

Sales growth is good in last 4 quarters at 27.97%

Return on Equity has declined versus last 3 years average to 6.40%

Sales growth has been subdued in last 3 years -9.75%

Latest Financials - Landmark Cars Ltd.

Standalone Consolidated
TTM EPS (₹) 7.7 16.8
TTM Sales (₹ Cr.) 569 3,278
BVPS (₹.) 121.3 127.1
Reserves (₹ Cr.) 480 504
P/BV 6.06 5.78
PE 95.21 43.68
From the Market
52 Week Low / High (₹) 504.05 / 901.95
All Time Low / High (₹) 433.20 / 901.95
Market Cap (₹ Cr.) 3,035
Equity (₹ Cr.) 20.7
Face Value (₹) 5
Industry PE 61.6

Management X-Ray of Landmark Cars:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Landmark Cars

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales0455581525695765658561681484
Operating Expenses 7430560509663742639522615388
Manufacturing Costs045558861321
Material Costs0400523467603660573472530258
Employee Cost 0121618263533264256
Other Costs 7151718293926183052
Operating Profit -7252116322319386696
Operating Profit Margin (%) -5.4%3.6%3.1%4.7%3.0%2.9%6.8%9.7%19.9%
Other Income 03344478911
Interest 0676511111169
Depreciation 04457916162230
Exceptional Items 000000000-1
Profit Before Tax -7181392570204768
Tax -245392051217
Profit After Tax -514961650153551
PAT Margin (%) -3.0%1.5%1.1%2.3%0.7%0.0%2.6%5.1%10.5%
Adjusted EPS (₹)-4.411.25.63.610.21.4-0.14.09.612.8
Dividend Payout Ratio (%)-26%7%9%8%9%0%0%9%4%18%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 365727894235230246280469
Share Capital 111881818181820
Reserves 263717086217211227262450
Minority Interest0000000000
Debt878615107131145145976971
Long Term Debt22864007686
Short Term Debt65789103131145138916165
Trade Payables111111817222630344147
Others Liabilities 1832354470568391150146
Total Liabilities 119194241246316462488468540734

Fixed Assets

Gross Block314045669196100102219260
Accumulated Depreciation361014202715315178
Net Fixed Assets2834355271698571167182
CWIP 1081000020
Investments 11144142157177183203
Inventories671021191301121091129073117
Trade Receivables511171110208221526
Cash Equivalents 17591310227615
Others Assets1538554010511310410193191
Total Assets 119194241246316462488468540734

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -18-332336452614445353
PBT -7181392570204768
Adjustment 778781620192130
Changes in Working Capital -18-571020209-43-2-29
Tax Paid 0-1-7-1-8-7-22-12-16
Cash Flow From Investing Activity -14-9-13-10-31-15-14-26-42-157
Capex -14-10-14-14-23-9-6-2-9-25
Net Investments 000000-11-16-4-6
Others 0024-8-63-7-28-127
Cash Flow From Financing Activity 3048-13-21-11-1511-33-13110
Net Proceeds from Shares 0500000000140
Net Proceeds from Borrowing 365-4-15-7-19-12-2
Interest Paid -5-6-7-6-4-12-11-11-6-9
Dividend Paid 00-200-100-1-1
Others 00000013-21-8-18
Net Cash Flow -26-243-311-15-36
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-89.1641.2412.917.6218.823.04-0.086.2313.3113.53
ROCE (%)-9.4919.4115.810.5114.46.162.848.3314.9116.9
Asset Turnover Ratio02.912.682.162.471.971.391.181.350.76
PAT to CFO Conversion(x)N/A-2.362.5662.815.2-INF2.931.511.04
Working Capital Days
Receivable Days07910678101015
Inventory Days0686987645361664472
Payable Days0104553121318252662

Landmark Cars Ltd Stock News

Landmark Cars Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Landmark Cars on 28-Mar-2024 16:01 is ₹725.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Landmark Cars stood at ₹3,034.9.
The latest P/E ratio of Landmark Cars as of 28-Mar-2024 16:01 is 95.21.
The latest P/B ratio of Landmark Cars as of 28-Mar-2024 16:01 is 6.06.
The 52-week high of Landmark Cars is ₹902.0 and the 52-week low is ₹504.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Landmark Cars is ₹568.8 ( Cr.) .

About Landmark Cars Ltd

The company was originally incorporated as “Landmark Insurance Broking Private Limited” at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated February 23, 2006, issued by the Registrar of Companies, Maharashtra at Mumbai (“RoC, Mumbai”). The name of the Company was subsequently changed to ‘Landmark Cars Private Limited’ pursuant to a fresh certificate of incorporation granted by the RoC, Mumbai on May 6, 2009. Subsequently, the Company was converted into a public limited company under the Companies Act, 2013, pursuant to the approval accorded by its Shareholders at their extra-ordinary general meeting held on November 10, 2021. Consequently, the name of the Company was changed to “Landmark Cars Limited” and a fresh certificate of incorporation consequent upon conversion from a private limited company to a public limited company was issued to the Company by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli at Ahmedabad (“RoC”) on December 3, 2021.

Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. It also has a commercial vehicle dealership with Ashok Leyland in India. It has 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. It started its operations and opened its first dealership for Honda in CY1998. It is focused on the premium and luxury automotive segments. The company’s after-sales service and spare parts offerings at each of company’s dealerships comprise repair and collision repair services and include both warranty work, insurance claim work and customer paid services. It operate as authorized service centers for Mercedes-Benz, Honda, Volkswagen, Jeep, Renault and Ashok Leyland, and it provide after-sales service and repairs through its after-sales service and spares outlets.

Business area of the company

The company buys and sells pre-owned passenger vehicles at each of its dealerships. The company operates on two business models:  the company facilitates the sale of used vehicles through its appointed panel of agents on a commission basis; and the company also takes the vehicles on its books for sale after any needed refurbishment. It also receives an incentive from its OEMs for used vehicles traded in for new vehicles; this incentive or over-allowance is available to it as a new car dealer and helps it with closing these transactions. It has also implemented a digital SaaS platform developed by Sheerdrive, an auto technology start-up company. Sheerdrive’s technology platform enables digital evaluation and real time used car prices, which will help drive transparency, accuracy and velocity of used car transactions, and will help drive its strategy of combining its physical presence with digital scale and speed.

Major events and milestones

  • 1998: The company commenced its Honda dealership in Ahmedabad, Gujarat.
  • 2009: The company commenced its Volkswagen dealership in Ahmedabad, Gujarat.
  • 2009: The company commenced its Mercedes-Benz dealership in Ahmedabad, Gujarat.
  • 2012: The company commenced its Ashok Leyland dealership in Ahmedabad, Kheda, Anand, Gandhinagar, Vadodara, Panchmahal and Dahod, all in Gujarat.
  • 2013: The company commenced its Mercedes-Benz Kolkata dealership in West Bengal.
  • 2014: Investment by TPG Growth in the Company.
  • 2016: The company commenced its Renault dealership in Punjab.
  • 2018: The company acquired a competing Volkswagen dealer in Ahmedabad, Gujarat.
  • 2019: Composite Scheme of arrangement and amalgamation in the nature of demerger and amalgamation between the Company, Landmark Commercial Vehicles Private Limited and Watermark Commercial Vehicles Private Limited and their respective shareholders and creditors, approved and sanctioned by the National Company Law Tribunal, Ahmedabad by way of its order dated April 4, 2019.
  • 2019: Composite Scheme of arrangement and amalgamation in the nature of demerger and amalgamation between the Company, Landmark Automobiles Private Limited and Watermark Automobiles Private Limited and their respective shareholders and creditors, approved and sanctioned by the National Company Law Tribunal, Ahmedabad by way of its order dated April 4, 2019, read with order dated April 15, 2019.
  • 2019: Composite Scheme of arrangement and amalgamation in the nature of demerger and amalgamation between Company, Automark Motors Private Limited and Watermark Vehicles Private Limited and their respective shareholders and creditors, approved and sanctioned by the National Company Law Tribunal, Ahmedabad by way of its order dated April 4, 2019, read with order dated April 15, 2019.
  • 2021: Appointed as a dealer for Jeep in Ludhiana and Jalandhar in Punjab.
  • 2021: The company opened a Jeep connect showroom in Thane, Maharashtra.
  • 2021: Acquisition of four service centres of Mercedes-Benz, as a going concern, on a slump sale basis from Shaman Wheels Private Limited in Mumbai, Maharashtra and Navi Mumbai, Maharashtra.
  • 2022: The company opened a BYD showroom in NCR.

Awards, accreditations, and recognitions

  • 2010: Platinum Award for Best Overall Performance - 2010 Category B Benchmark Cars, Ahmedabad, Gujarat.
  • 2013: Highest volume achiever – Bronze was awarded to Landmark Honda at the Annual Dealer Convention, New Delhi.
  • 2013: HR Partner of the Year 2013 was awarded to Benchmark Cars, Gujarat.
  • 2015: Exceptional performance in sales satisfaction was awarded to Landmark Honda Ahmedabad, Gujarat for the sales period July – September 2015 by Honda Cars India Limited.
  • 2015: Mercedes Benz Winner of the best place to work award for 2015 (Category 2) was awarded to Benchmark Cars, Gujarat.
  • 2018: Benchmark Cars - Gujarat was awarded the Best Partner for Daimler Financial Services Category A H1-2018.
  • 2019: Group Landmark was awarded the “Customer Centricity” award by Autocar.
  • 2019: Group Landmark was awarded top dealer of the year (West) at the Auto Retail Forum.
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