Landmark Cars rallies 17% after posting record Q1 business update

The shares of Gujarat-based luxury automotive retail dealer Landmark Cars surged nearly 17% in intraday trade on Tuesday after the company reported its highest-ever first-quarter sales and a strong business update for the quarter ended June 30, 2026.

The stock climbed as much as 17.4% to an intraday high of ₹496.70 on the NSE before trimming some gains to trade at ₹486.55, up about 15%, in afternoon trade. The rally came after the company said its proforma consolidated revenue from operations rose 22.47% year-on-year to ₹1,733 crore during the June quarter.

Record Q1 sales drive optimism

Landmark Cars said it delivered its highest-ever first-quarter sales, supported by robust growth in both vehicle sales and the after-sales business.

Vehicle sales, including agency sales and pre-owned vehicles, increased 24.15% to ₹1,465 crore, while revenue from after-sales service, spare parts and other businesses rose 14.04% to ₹268 crore during the quarter.

The company noted that deliveries of several key models, including the Mercedes-Benz CLA, MG Majestor and the new Renault Duster, commenced during the June quarter. It also expects upcoming launches from Mercedes-Benz, BYD, MG, Mahindra, Honda and Kia to support sales momentum in the coming quarters.

BYD supply improves, workshop expansion underway

Landmark Cars said the supply of BYD vehicles improved during the June quarter and is expected to strengthen further in the current quarter.

The company also said its after-sales business benefited from the ramp-up of newly opened workshops and that it is expanding workshop capacity across multiple brands to meet rising demand in key markets.

The reported revenue is on a proforma basis to account for Mercedes-Benz's agency sales model, under which customers now purchase vehicles directly from Mercedes-Benz India while Landmark earns a commission on each sale. This enables a like-for-like comparison with the previous year.

Landmark Cars has not yet announced the date of its board meeting to approve the June quarter (Q1 FY27) financial results, the filing released today is only a provisional business update.

The shares of Landmark Cars have declined nearly 12% over the past one year, underperforming the benchmark Nifty 50, which has fallen over 4% during the same period. Tuesday's rally, however, helped the stock recover a part of those losses.