Landmark Cars Ltd. · NSE:LANDMARK
Landmark Cars — Q4 FY24 Earnings Presentation
44 slides from Landmark Cars's earnings presentation, May 23, 2024
Slide 1: Regulation 30 filing cover letter to exchanges
May 23, 2024 To, To, The Secretary, The Secretary, BSE Limited, National Stock Exchange of India Limited P. J. Towers, Exchange Plaza, C-1, Block- G, Dalal Street, Bandra Kurla Complex, Bandra(E) Mumbai- 400 001 Mumbai – 400 051 Scrip Code – 543714 Symbol – LANDMARK Dear Sir/Madam, Subject: Investor
Slide 2: Investor Presentation May 2024
Driven by India’s Growth And Our Passion Investor Presentation May 2024
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Landmark Cars Limited (the “Company ”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securi
Slide 4: Company Snapshot
Company Snapshot Share of sales in India by units for the OEM for Q4FY24 Outlet Count Entering in the 26th Year of Leadership 11th state Driven by you and Your with dealership Faith in Us for Honda Cars in Rajasthan #1 Partner #1 Partner #1 Partner #1 Partner #3 Partner 17.1% Share of sales 4.6% Sha
Slide 5: Industry Overview
Industry Overview Factors, trends and updates influencing the industry 4
Slide 6: Growth in Premium Segment Continues
Growth in Premium Segment Continues Diversified customer mix arising out of change in demographics and lifestyle preferences Luxury Vehicles sold in CY 2023 44,290 up 24% YoY Average age of Luxury Car Buyers 30-35 Years Fastest emerging class of Premium & Luxury Buyers Start-up Founders, Professiona
Slide 7: Company Overview
Company Overview Deep dive into the operations & business segments of the company 6
Slide 8: Journey So Far...
Journey So Far... - Acquired 4 Mercedes-Benz workshops in Mumbai. - MG Motor dealerships in Indore, Ashok Leyland - Acquired Volkswagen Bhopal & Goa. dealership in Ahmedabad & dealership in Surat. - Significant foray into pre-owned Vadodara, Jeep - Acquired Honda car business. Gujarat. dealerships D
Slide 9: Growth Strategy
Growth Strategy ▪ OEs vision for growth Brand Selection ▪ Premium/Luxury Brands ▪ Strong pipeline for upcoming model launches Higher Market Potential ▪ Growth Markets Geography & ▪ Better Infrastructure Development ▪ Growing PV Industry Volumes ▪ Payback period in line with internal benchmarks Healt
Slide 10: Growth Strategy
Growth Strategy Mahindra Kia MG Motor ▪ Mahindra is one of the fastest growing brands in ▪ Kia plans an aggressive business • JSW MG Motor India will invest Rs. 5,000 Cr; focus India. strategy for India in 2024, including on New Energy Vehicles. expanding the production capacity by ▪ Aspires a growt
Slide 11: Expansion in High Growth Markets
Expansion in High Growth Markets Hyderabad – PV Industry Sales Hyderabad 1,60,563 ▪ 5th largest urban economy of India. (US$74 billion). ▪ 6th most populous city in India. 93,968 ▪ 6th largest deposit centre and 4th largest credit centre nationwide as ranked by the RBI. 79,037 ▪ Per Capita Income of
Slide 12: Footprint Overview FY24
Footprint Overview | FY 24 New Facilities commenced in FY 24 Brand Facility Location Count Showroom Goa 1 Workshop Goa 1 Showroom Workshop Indore Indore 1 1 20 New Facilities Showroom Bhopal 1 Workshop Bhopal 1 Showroom Ujjain 1 Showroom Howrah 1 ~Rs. 400 Mn Workshop Howrah 2 Total Investment Worksh
Slide 13: Recently Inaugurated Facilities FY24
Recently Inaugurated Facilities | FY 24 M&M Howrah - 2 Showrooms & 1 Workshop MG Motors Goa - Showroom VW - Gandhinagar MG Motors Ujjain - Showroom VW - Ahmedabad MG Motors Indore - Showroom VW - Vadodara Board Meeting | Landmark Cars Ltd. | 12
Slide 14: New Facilities FY25
New Facilities | FY 25 Q1 FY 2025 Q2 FY 2025 Q3 FY 2025 Brand Facility Location Count Brand Facility Location Count Brand Facility Location Count Showroom Mumbai 1 Workshop Hyderabad 1 Workshop Mumbai 1 Showroom Ahmedabad 1 Showroom Rajasthan 3 Workshop Mumbai 1 Workshop Ahmedabad 1 Workshop Rajasth
Slide 15: Recently Inaugurated Facilities Q1 FY25
Recently Inaugurated Facilities | Q1 FY 25 MG Motors Ahmedabad - Showroom + Workshop MG Motors Mumbai - Showroom 14
Slide 16: Recent Developments of Partner OEMs
Recent Developments of Partner OEMs Homologation of BYD Atto3 BYD Seal, an electric sedan was launched in March 2024 starting from Rs. 41 Lakhs and received good response and will contribute to volume growth M&M launched Mahindra XUV 3XO in April and received 50,000 bookings in the first hour. Jeep
Slide 17: Senior Leadership Team
Senior Leadership Team Yashovardhan Bichu K. Ravishankar Manjeet Sawant Mahendra R. Aditya Kunal CEO - Gujarat CEO - Mumbai CEO CEO CEO Ex - Mercedes-Benz India, Bosch Ex - Audi India, Pfizer, PepsiCo, Gujarat Telangana Madhya Pradesh India Toyota Middle East Ex - Automobile, Telecom, Ex – Maruti Su
Slide 18: Presence Across The Automotive Value Chain
Presence Across The Automotive Value Chain New Vehicle Sales Premium and luxury passenger vehicles 01 After-Sales Service & Electric Vehicles Spares Rs. 45,950 Commercial Vehicles 02 Customer paid services Warranty Work Rs. 46,554 Million Pre-owned Accessories Million (FY23) Passenger Vehicles Facil
Slide 19: New Vehicle Sales Business
New Vehicle Sales Business • Landmark offers a wide range of new passenger vehicles, from premium to luxury, 38,052 46,554 electric vehicles as well as commercial vehicles FY24 656 FY24 Proforma Revenue Proforma Revenue FY24 EBITDA (Rs. In Mn) (Rs. In Mn) (Rs. In Mn) • This extensive brand portfolio
Slide 20: After Sales Business
After Sales Business • Provides a stable revenue stream and contributes to higher-margin revenues which helps mitigate the cyclical nature of new vehicle sales 8,502 FY24 Revenue • Emphasis on customer service leading to increased customer retention and higher revenue per vehicle (Rs. In Mn) service
Slide 21: After Sales Business – High Growth, High Margin
After Sales Business – High Growth, High Margin, High EBIDTA, High ROCE & Non-cyclical Rs. in Mn 19.2% ~30.6% Revenue CAGR from ~40.7% ~18.2% Gross Margin EBIDTA ROCE FY24 FY14 to FY24 After Sales Revenue (Rs. Mn) EBITDA Margin % 17.9% 17.8% 18.2% 18.3% 18.2% 8,502 7,454 1,548 5,967 1,367 4,642 4,83
Slide 22: Pre-owned Car Business
Pre-owned Car Business Empowers customers to enjoy benefits of • Paying a lower EMI, ▪ The pre-owned car Easy upgrade to a which includes market is gaining better variant warranty, service prominence in the auto cost, insurance market. Market studies • Future buy-back shows that this market is to gu
Slide 23: Pre-owned Car Business – Website
Pre-owned Car Business – Website Click Here for the Website - https://www.grouplandmark.in/index.html 22
Slide 24: Q4 & FY24 Performance
Q4 & FY24 Performance Detailed Financial Performance Highlights for the Quarter and Year end 23
Slide 25: Key Performance Metrics
Key Performance Metrics *Proforma Revenues Reported Revenues Gross Profit 18.3% 18.9% 19.8% 13,016 12,995 12,126 9,592 8,640 8,538 1,760 1,614 1,707 Q3FY24 Q4FY23 Q4FY24 Q3FY24 Q4FY23 Q4FY24 Q3FY24 Q4FY23 Q4FY24 EBITDA Cash Profit after Tax# Profit after Tax (After Exceptional Items) 7.0% 7.5% 6.5%
Slide 26: Vertical Wise Performance Highlights – Q4
Vertical Wise Performance Highlights – Q4 *Proforma Revenue (Rs. Mn) Reported Revenue (Rs. Mn) New Vehicle Sales EBITDA (Rs. Mn) Average Selling Price for New Vehicle Sold (Rs. In lakh) 10,744 10,775 New 7,321 10,171 6,584 22.06 6420 219 235 18.75 20.48 vehicle 175 sales & Allied Businesses Q1 FY23
Slide 27: Vertical Wise Performance Highlights – FY24
Vertical Wise Performance Highlights – FY24 *Proforma Revenue (Rs. Mn) Reported Revenue (Rs. Mn) New Vehicle Sales EBITDA (Rs. Mn) Average Selling Price for New Vehicle Sold (Rs. In lakh) New 38,496 38,052 20.03 vehicle 17.71 26,370 sales & 24,377 1,023 Allied 656 Businesses Q1 FY23 Q1 FY24 Q1 FY23
Slide 28: Consolidated Profit And Loss Account
Consolidated Profit And Loss Account Key takeaways from the Q4 & FY24 Performance: Profit and Loss (Rs. Mn unless mentioned Q4 FY24 Q4 FY23 YoY Q3 FY24 QoQ FY24 FY23 YoY otherwise) • In this period, the Company partnered with MG Proforma Revenue from operations 12,995 12,126 7.16% 13,016 -0.16% 46,5
Slide 29: Cost Rationalization Plan | Operating Leverage
Cost Rationalization Plan | Operating Leverage Personnel Expenses Other Expenses % of Proforma Revenue % of Proforma Revenue 4.5% 4.7% 4.5% 4.1% 4.1% ~4% ~4% 3.8% FY 2022 FY 2023 FY 2024 FY 2025 (Plan) FY 2022 FY 2023 FY 2024 FY 2025 (Plan) 28
Slide 30: Reconciliation for Adjusted Profit – FY24
Reconciliation for Adjusted Profit – FY24 Particulars (Rs. in Mn) FY24 (Adjusted) Effect of Ind AS FY24 (Reported) FY23 (Adjusted) Effect of Ind AS FY23 (Reported) YoY (Adjusted) YoY (Reported) Revenue from operations 32,878.87 - 32,878.87 33,823.51 - 33,823.51 -2.79% -2.79% Other income 79.11 17.27
Slide 31: Reconciliation for Adjusted Profit – Q4FY24
Reconciliation for Adjusted Profit – Q4FY24 Particulars (Rs. in Mn) Q4 FY24 (Adjusted) Effect of Ind AS Q4 FY24 (Reported) Q4 FY23 (Adjusted) Effect of Ind AS Q4 FY23 (Reported) YoY (Adjusted) YoY (Reported) Revenue from operations 8,639.73 - 8,639.73 8,537.98 - 8,537.98 1.19% 1.19% Other income 17.
Slide 32: Historical Performance
Historical Performance Detailed Financial Performance Highlights over the past 3 years 31
Slide 33: Consolidated Profit And Loss Account
Consolidated Profit And Loss Account Particulars (Rs in Mn) FY 24 FY 23 FY 22 FY21 Vehicle Sales 24,377 26,369 23,799 15,216 After Sales Service & Spare parts & others 8,502 7,454 5,967 4,345 Revenue from Operations 32,879 33,824 29,765 19,561 Other income 96 121 126 102 Total Income 32,975 33,944 2
Slide 34: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs in Mn) Mar-24 Mar-23 Mar-22 Mar-21 Equity & Liabilities (Rs in Mn) Mar-24 Mar-23 Mar-22 Mar-21 Non - Current Assets 6,538 5,632 5,414 3,636 Total Equity 5,420 4,716 2,482 1,824 Property Plant & Equipments 2,850 2,424 2,146 1,901 Share Capital 206 198 183 183 CWI
Slide 35: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in Mn) Mar-24 Mar-23 Mar-22 Mar-21 Net Profit Before Tax 695 1,041 823 198 Adjustments for: Non -Cash Items / Other Investment or Financial Items 1,513 1,360 966 967 Operating profit before working capital changes 2,208 2,401 1,788 1,164 Changes in w
Slide 36: Key Performance Metrics
Key Performance Metrics *Proforma Revenues Reported Revenues Gross Profit 45,950 46,554 16.3% 16.0% 18.1% 19.8% 18.9% 19.8% 33,824 32,879 33,691 29,765 6,128 6,512 19,561 4,774 19,561 12,126 12,995 8,538 8,640 3,190 1,707 1,614 FY21 FY22 FY23 Q1 FY23 Q1 FY24 FY21 FY22 FY23 FY24 Q4FY23 Q4FY24 FY21 FY
Slide 37: Key Performance Ratios
Key Performance Ratios Capital Employed (Rs. In Mn) Debt* to Equity Ratio 1.9 10,041 1.7 7,617 1.1 5278 5,098 5,567 0.8 0.5 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 ROCE ROE 19.69% 20.49% 30.87% 23.75% 11.42% 8.45% 11.35% 0.95% 6.35% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 -16.21%
Slide 38: Annexures
Annexures Corporate Structure, Team Details, CSR & Marketing Initiatives 37
Slide 39: Board of Directors
Board of Directors Sanjay Thakker Promoter, Chairman and Executive Director Having accumulated extensive experience in the automobile industry for over two decades through his astute leadership. Acknowledged with the prestigious title of 'Business Leader of the Year' at both the 19th Global Edition
Slide 40: Senior Management Team
Senior Management Team Aryaman Thakker - Executive Director Sanjay Thakker - Promoter, Chairman and Executive Director Background: Master’s degree of science in marketing and strategy from the university Background: Founded the group landmark in 1998. of Warwick. Joined group landmark in 2017 as a G
Slide 41: Awards and Accolades FY24
Awards and Accolades | FY 24 Best Partner in People Management – Best in Digital Marketing After Sales – Best Marketing Partner – Landmark Highest Volume Achiever – Landmark Landmark Mercedes-Benz, Gujarat Landmark Mercedes-Benz, Mumbai Mercedes-Benz, Gujarat Honda Highest Sales Achievement – 1st Ru
Slide 42: Net Carbon Zero Mission
Net Carbon Zero Mission • Group Landmark embarked on a ‘Green Initiative’ to plant and nurture trees. we understand the need for Biodiversity and conservation of the rich Flora & Fauna of nature. • The Group has already planted over 78,000 trees since 2016. • The company pledges and is committed to
Slide 43: Corporate Structure
Corporate Structure Landmark Cars Limited Landmark Landmark Landmark Landmark Landmark Benchmark Automark Watermark Motorone Aeromark Landmark Lifestyle Commercia Premium Automobils Cars (East) Motors Motors Cars India Cars Mobility Cars l Vehicles Cars Private Ltd. Private Ltd. Private Ltd. Private
Slide 44: Thank You
Thank You Landmark Cars Ltd. CIN: L50100GJ2006PLC058553 Amol Raje Company Secretary Email id: companysecretary@landmarkindia.net Investor Relations Advisors Strategic Growth Advisors Pvt Ltd. CIN: U74140MH2010PTC204285 Devika Shah/ Shikha Puri devika.shah@sgapl.net / shikha.puri@sgapl.net Tel No: +9