Landmark Cars: ICICI Securities Reiterates BUY with INR 710 Target Price Amidst Growth Focus

Overview

ICICI Securities maintains a BUY rating on Landmark Cars with an unchanged target price of INR 710. Despite a slight QoQ dip in EBITDAR to 4.5% due to discounts and a higher proportion of new car sales, revenue surged 34% YoY. The company expanded its network by 23 outlets in FY25, diversifying with high-growth brands like M&M, Kia, MG, and BYD, which now contribute nearly 29% to revenue.