• EV and Network Expansion: Landmark added nearly 22% capacity in a single year with a primary focus on EVs alongside Mahindra & Mahindra, BYD, and MG, bringing EV contribution to nearly 21% of total business.
• After-Sales Performance: The after-sales segment surpassed ₹1,000 crore in FY26, operating at a 40% gross margin and roughly 18% EBITDA margin with a 10-year compounding growth rate of 14–15%.
• Profitability and Margins: Management expects margin expansion as newer outlets mature and eliminate the roughly ₹40 crore front-loaded expense drag incurred during recent expansion.
• Cash Flow and Debt: The company funded its expansion entirely via internal accruals, generating nearly ₹270 crore in operating cash flow and ₹100 crore in cash profit last year to systematically reduce working capital debt.
• Inventory Strategy: Inventory levels remain tightly controlled below the 30-day industry norm, though the company stocked an extra 4–5 days of inventory in late March to capture one-time margin gains ahead of announced price hikes.