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Landmark Cars Q3 Results Review: ICICI Securities Upgrades Rating To 'Buy', Hikes Target Price — Here's Why
ICICI Securities upgrade Landmark Cars to Buy from Add with a DCF-based target price of Rs 650 (earlier: Rs 641), implying ~18x FY27E earnings per share.
14 Feb 2025, 10:20 AM IST 
Landmark Cars' new car sales revenue (proforma) was up ~32% YoY at Rs14 billion and ASP at Rs 2.1 million, was up 8% YoY
(Photo Source: Company website)
Landmark Cars added 23 outlets in 9M FY25 (~17% of total outlet count), which added to revenue growth (revenue +25% YoY) and helped diversify with high-growth brands such as M&M, Kia, MG and BYD.
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