Landmark Cars Q4 FY26: Profit up 958%, revenue +17%

Key takeaways from the Q4 FY26 update

Landmark Cars Ltd. reported a sharp improvement in profitability in Q4 FY26, supported by double-digit growth in revenue and a stronger contribution from after-sales services. The company also highlighted that FY26 ended with after-sales revenue crossing ₹1,000 crore, a milestone for its service and spares business. The earnings conference call was held on May 27, 2026 at 10:00 AM IST.

Alongside the company-specific numbers, management commentary referenced broader industry conditions. After what it described as a slow first half, FY26 passenger vehicle (PV) sales closed at 47 lakh units, implying 13% year-on-year growth.

Management commentary: growth ahead of industry and network execution

On an annual basis, the company said it delivered 20% year-on-year topline growth, ahead of the industry growth of 13%. It also attributed Q4 execution to its market presence and its role as a large volume contributor for multiple OEMs.

A central theme in the commentary was the maturing of recently added service capacity. The company linked after-sales growth to the ramp-up and stabilisation of newly opened workshops, and said the segment delivered its highest-ever quarterly performance.

Q4 FY26 revenue: two reported measures to track

In the conference-call remarks, the company referred to “performance revenue” of ₹1,795 crore in Q4 FY26, up 18% year on year. It also cited “reported revenue” of ₹1,279 crore, up 17% year on year.

Separately, published quarterly segment disclosure described consolidated Q4 FY26 revenue from operations (including agency sales) at ₹1,790 crore, up 17.30% from ₹1,526 crore in Q4 FY25. In that disclosure, vehicle sales (including agency sales and pre-owned vehicle sales) were ₹1,508 crore, and after-sales service, spare parts and others were ₹282 crore.

The presence of both “performance revenue” and “reported revenue” suggests the company tracks more than one revenue lens in its quarterly commentary. Investors typically focus on the statutory consolidated revenue line while also using management’s operating measure to understand throughput and mix.

Q4 FY26 margins and costs: gross margin at 17.1%, EBITDA margin about 6%

For Q4 FY26, the company reported gross profit of ₹219 crore and a gross margin of 17.1%. It said employee cost and other operating expenses were within an internal benchmark of 4% of performance revenue.

EBITDA (referred to as “AIDA” in the transcript) for the quarter was ₹79 crore, up 30% year on year, with an EBITDA margin of 6.2% on reported revenue. Depreciation for the quarter was ₹37 crore and finance cost was ₹20 crore.

The company also pointed to exceptional items related to expenses for outlet closure and relocation.

Q4 FY26 profit: net income around ₹15 crore, up sharply

Landmark Cars’ quarterly net income was reported at ₹15.03 crore (₹150.34 million) in Q4 FY26 versus ₹1.42 crore (₹14.22 million) in Q4 FY25, implying a year-on-year increase of about 958%. The conference-call transcript also cited profit after tax of ₹15 crore and referenced a 758% year-on-year growth figure.

Basic and diluted earnings per share from continuing operations were both stated at ₹3.63 in Q4 FY26 compared with ₹0.34 a year ago.

FY26 performance: revenue at ₹6,713 crore and after-sales above ₹1,000 crore

For FY26, the company reported revenue of ₹6,713 crore (also described as ₹48,962 million), up 19.32% from ₹5,626 crore in FY25. The company’s own commentary also referenced annual performance revenue of about ₹6,719 crore.

Within FY26, vehicle sales revenue was stated at ₹5,664 crore to ₹5,668 crore (figures appear across different summaries), while after-sales revenue was stated at ₹1,049 crore. Management highlighted that this marked after-sales revenue crossing ₹1,000 crore on an annual basis.

FY26 gross profit was reported at ₹819 crore, translating into a gross margin of 16.7%. The company reported its highest-ever annual EBITDA (“AIDA”) of ₹283 crore with an EBITDA margin of 5.8%.

Cash flow and quarterly cash metric mentioned by management

For FY26, Landmark Cars said it generated net operating cash flow of ₹267 crore.

For Q4 FY26, the conference-call transcript also referenced “cash pack” of ₹33 crore with a margin of 2.6%. The disclosure in the provided text does not elaborate further on the definition, so the figure should be read as a management metric rather than a standard reporting line.

Stock reaction and recent quarterly comparison

In market reaction cited in the text, Landmark Cars rose 2.91% to ₹436.85 after the company’s revenue from operations jumped 17.50% year on year to ₹1,790 crore in Q4 FY26.

For context, the company’s Q3 FY26 numbers included consolidated net profit of ₹14.18 crore, up 24.93% year on year, with revenue from operations of ₹1,345.07 crore.

Summary table of reported figures

Why the after-sales milestone matters for a dealer model

Crossing ₹1,000 crore in annual after-sales revenue is material for an auto retail business because service and spares typically add recurring throughput beyond new-vehicle cycles. In the company’s narrative, after-sales growth was supported by newer workshops moving from ramp-up to stabilisation, which can influence capacity utilisation and cost absorption.

At the same time, the numbers show vehicle sales remain the largest revenue driver. For Q4 FY26, vehicle sales of ₹1,508 crore were more than five times the after-sales line of ₹282 crore, reinforcing that demand and delivery execution in the core dealership business still dominate quarterly swings.

Conclusion

Landmark Cars’ Q4 FY26 results showed strong year-on-year growth across revenue and profitability, with consolidated net income rising to about ₹15 crore and revenue from operations reaching ₹1,790 crore. For FY26, the company reported revenue of ₹6,713 crore and highlighted after-sales revenue of ₹1,049 crore, crossing the ₹1,000 crore milestone. The next set of management inputs is expected to come through subsequent filings and scheduled investor communications following the May 27, 2026 conference call.