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Landmark Cars Company Details
Landmark Cars is a leading premium automotive retail business in India with dealerships for Mercedes-Benz, Honda, Jeep, Volkswagen and Renault. It also caters to the commercial vehicle retail
business of Ashok Leyland in India. t 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. The Company started its operations and opened its first dealership for Honda in CY1998, and it has expanded its network to include 112 outlets in 8 Indian states, comprised of 61 sales showrooms and outlets and 51 after-sales service and spares outlets, as of September
30, 2021. It is focused on the premium and luxury automotive segments.
CRISIL Research expects the premium segment to grow at a CAGR of 10-12% CAGR from Fiscal 2021 to Fiscal 2026, while the luxury segment is expected to grow at a CAGR of 20-22% during the same period. . It was number one dealer in India by sales volumes of new vehicles for Mercedes-Benz (in Fiscal 2021), Honda (in Fiscal 2021), Volkswagen (in CY 2020) and Stellantis (Jeep) (in Fiscal 2021), and we were the third largest dealer by sales volume for Renault (in CY2020).
New Vehicle Sales : In the six months ended September 30, 2021 and in Fiscal 2021, it sold 8,295 and 13,282 new vehicles, respectively, including new passenger vehicles of Mercedes-Benz, Honda, Volkswagen, Jeep and Renault and new commercial vehicles of Ashok Leyland. Its consolidated revenue from new vehicle sales were Rs.11,352.91 million and Rs 14,455.44
million, respectively, in the six months ended September 30, 2021 and in Fiscal 2021, and comprised 80.35% and 73.90%, respectively, of its consolidated total revenue from operations in those periods.
The following table sets forth (i) the volume of new vehicles that we sold for each OEM in the six months ended September 30, 2021 and in Fiscal 2021, (ii) the year it opened its first dealership with each particular OEM (iii) its market position and (iv) percentage of passenger vehicles sold with respect to that OEM in 2021 or Fiscal 2021
Its vehicle dealership network is spread across 31 cities in eight states and union territories including Maharashtra, Uttar Pradesh, Gujarat, Haryana, Madhya Pradesh, Punjab, West Bengal and the National Capital Territory of Delhi. These states constituted more than 51% of Indian vehicle demand in Fiscal 2021. . In addition, we have an online presence through our website for Group Landmark, websites for its individual dealerships and the websites of our OEMs to showcase our brands including the latest model launches by its OEM partners and to facilitate lead generation. It began taking bookings online through its website for Group Landmark in June 2021 which is leading to monthly sales each month.
Expansion into Pure EV Sales : It has recently signed a letter of intent with the automaker BYD, a leading player in the global EV market , for the Company to be their dealer in the National Capital Region (Delhi) and Mumbai in respect of their electric passenger vehicles.
After-Sales Service and Spare Parts
Its after-sales service and spare parts offerings at each of its 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 provides after-sales service and repairs through 51* after-sales service and spares outlets, as of September 30, 2021. During the six months ended September 30, 2021 and Fiscal 2021, Fiscal 2020 and Fiscal 2019, we serviced 127,337, 213,755^, 280,952^ and 261,670^ passenger vehicles, respectively, and 5,343, 7,713, 10,088 and 10,236 commercial vehicles, respectively. In the six months ended September 30, 2021, Fiscal 2021, Fiscal 2020 and Fiscal 2019, its after-sales service and spare parts revenues was Rs 2,430.15 million, Rs4,229.56 million, Rs 4,806.40 million and Rs 4,602.16 million, respectively. In addition, as authorized dealers for Mercedes-Benz, Honda, Volkswagen, Jeep, Renault and Ashok Leyland, it also sell spare parts, lubricants, accessories and other products at its after-sales service and spares outlets. In the six months ended
September 30, 2021 and in Fiscal 2021, Fiscal 2020 and Fiscal 2019, it earned an average of Rs18,316, Rs19,098, Rs16,515 and Rs16,926 respectively, from each vehicle serviced, and we serviced an average of 16, 17, 17 and 12 vehicles for every new vehicle sold in the respective periods.
Pre-owned Passenger Vehicle Sales It buys and sells pre-owned passenger vehicles at each of its dealerships. It operates on two business models: (1) it facilitate the sale of used vehicles through its appointed panel of agents on a commission basis; and (2) it 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 in which we held a 19.97% equity interest (as at September 30, 2021), in its pre-owned car business. Sheerdrive’s technology platform enables digital evaluation and real time used car prices, which it believes 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.
Third-party financial and insurance products : As a value add-on to its passenger vehicle sales, it facilitates the sale of third-party financial products including insurance policies and vehicle finance through its dealerships. Increasing the penetration of finance and insurance product sales will further drive profitability of its overall business.
For more information, click www.grouplandmark.in
The Promoter of Landmark Cars
Sanjay Karsandas Thakker
Landmark Cars IPO Main Objects
The Offer comprises the Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company and Subsidiaries
Landmark Cars IPO Details
IPO opens on (?) , 2022
IPO closes on (?) ,2022
Issue Type: Book Built Issue IPO
Issue : up to ? Shares /Rs 762 Crore
* Fresh Issue of (?) Sh/ Rs.150 Cr
* Offer for Sale Up to (?) Sh/ Rs 612 Cr
Face Value per share : Rs. 5
Landmark Cars IPO Price Band Per Equity Share: Rs. (?)
Landmark Cars IPO Retail Lot Size (?) Shares
Landmark Cars Listing will at BSE,NSE
Shares offered to
QIB (?%) (?) Shares = Rs (?) Cr
NII (?%) Shares = Rs (?) Crs
RII (?%) Shares = Rs (?) Crs
Emp(?%) Shares = Rs (?) Crs
Lot size: (?) Shares = (?) Forms
Min Retail Application : (?) Sh , Rs. (?)
Max Retail Application : (?) Sh, Rs (?)
Landmark Cars IPO Tentative timeTable
IPO opens on (?) , 2022
IPO closes on (?) ,2022
Landmark Cars IPO Allotment on (?) 2022
Unblocking of ASBA ? 2022
Credit to Demat Accounts ? 2022
Listing on ? 2022
Landmark Cars IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs (7.84)
Earnings per Share 2020-21,Rs 3.09
Earnings per Share 2021-22 6M Rs 7.58
Return on Net Worth: 19-20 (16.99) %
Return on Net Worth: 20-21: 6.23 %
Return on Net Worth: 20-21 6M : 13.32%
Equity Shares prior to the IPO : 36,625,620 Shares
Book Value of the Share as on 30.9.2021 Rs 56.93
NAV per Equity Share after the Offer (?)
Upper Price Band/last EPS:
Upper offer price/Book Value Ratio
Upper offer price/BV after IPO Ratio:
Landmark Cars IPO Peer Comparison:
There are no listed companies in India that engage in a business similar to that of this Company.
Landmark Cars IPO Lead Managers
Axis Capital , ICICI Securities
Registrar to Landmark Cars IPO
Linkintime India Pvt Ltd.
Registered Office of Landmark Cars
Landmark House, Opp. AEC, S.G. Highway, Thaltej, Near Gurudwara, Ahmedabad 380 059
Company Secretary & Compliance Officer : Amol Arvind Raje
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