IPO Review - Landmark Cars - ICICI Direct

Landmark Cars (LMC) is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. LMC also has a commercial vehicle dealership for Ashok Leyland in India.

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

- It has a network of 112 outlets in eight Indian states and union territories, comprising 59 sales showrooms and outlets along with 53 after-sales service and spares outlets, as of June 30, 2022

- In FY22, LMC contributed 15.8% to retail sales of Mercedes-Benz, 5.8% to wholesale sales of Honda, 8.7% to wholesale sales of Volkswagen, 26.8% to wholesale sales of Jeep and 5.1% to wholesale sales of Renault

Key triggers / Highlights

- Leading automotive dealership for major OEMs with strong focus on high growth segments (premium & luxury)

- Growing presence in after-sales segment leading to predictable growth in revenues and superior margins

- Inclusive business model capturing entire customer value chain

- Robust business - leveraging upon innovation and digitisation

For details, click on the link below: Link to the report

Source : Equity Bulls

Keywords

LandmarkCars IPO ReviewReport ICICIDirect