Board Meeting Details

The Board meeting commenced at 3:45 p.m. and concluded at 5:10 p.m. on August 11, 2026.

Key Decisions and Approvals

1. Financial Results: Considered and approved the Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2026. The financial results along with the limited review report by Statutory Auditors are enclosed as required under Regulation 33.

2. Annual General Meeting: Approved convening of the 20th Annual General Meeting on Thursday, September 24, 2026, at 3:00 p.m. (IST) through Video Conference/Other Audio Visual Means.

3. Dividend Record Date: Fixed the record date as Thursday, September 17, 2026 for determining members entitled to dividend payment.

4. Register Closure: Approved closure of Register of Members and Share Transfer Books from Friday, September 18, 2026 to Thursday, September 24, 2026 (both days inclusive).

5. Director Reappointments:

  • Reappointment of Mr. Manish Chokhani (DIN: 00204011) as Independent Director for a second term of 3 years from October 28, 2026, subject to shareholder approval.
  • Reappointment of Mr. Gautam Trivedi (DIN: 02647162) as Independent Director for a second term of 5 years from October 28, 2026, subject to shareholder approval.

6. New Director Appointment: Appointment of Ms. Rita Teaotia (DIN: 02876666) as Additional Director designated as Independent Director effective August 11, 2026, subject to shareholder approval.

7. ESOP Grant: Approved grant of 2,000 Stock Options to eligible employees under Landmark Employee Stock Option Plan - 2023 based on Nomination and Remuneration Committee recommendation.

8. Strategic MOU: Entered into Memorandum of Understanding with Tecso Charge Zone Limited (EV charging infrastructure provider) to provide Wallet Credit and other benefits to eligible customers through a designated referral code.

9. Committee Reconstitution: Reconstituted Nomination and Remuneration Committee and Audit Committee by appointing Ms. Rita Teaotia as member effective August 11, 2026.

Financial Results Highlights

Consolidated Results (₹ in Million, except per share data):

  • Total Income: ₹13,055.96 (Q1 FY27) vs ₹12,816.12 (Q4 FY26) vs ₹10,668.83 (Q1 FY26)
  • Profit Before Tax: ₹191.51 (Q1 FY27) vs ₹207.20 (Q4 FY26) vs ₹98.86 (Q1 FY26)
  • Profit for Period: ₹145.46 (Q1 FY27) vs ₹150.34 (Q4 FY26) vs ₹73.66 (Q1 FY26)
  • Earnings Per Share (Basic & Diluted): ₹3.51 (Q1 FY27) vs ₹3.63 (Q4 FY26) vs ₹1.67 (Q1 FY26)
  • Paid-up Equity Share Capital: ₹207.32 million (Face value ₹5 per share)

Standalone Results (₹ in Million, except per share data):

  • Total Income: ₹1,980.00 (Q1 FY27) vs ₹2,388.47 (Q4 FY26) vs ₹1,455.70 (Q1 FY26)
  • Profit Before Tax: ₹154.33 (Q1 FY27) vs ₹172.94 (Q4 FY26) vs ₹114.86 (Q1 FY26)
  • Profit for Period: ₹115.86 (Q1 FY27) vs ₹129.54 (Q4 FY26) vs ₹86.30 (Q1 FY26)
  • Earnings Per Share (Basic & Diluted): ₹2.79 (Q1 FY27) vs ₹3.13 (Q4 FY26) vs ₹2.09 (Q1 FY26)

Director Profile Details

Mr. Manish Chokhani: Holds MBA from London Business School, Associate of ICAI, Fellow of All-India Management Association. Former CEO of Enam Securities Private Limited (2006-2011), Managing Director and CEO of Axis Capital Limited (2011-2013). Currently Director of Enam Holdings Pvt Ltd and serves on boards of several listed companies and Governing Board of Flame University.

Mr. Gautam Trivedi: Holds Bachelor's degree in Commerce from Sydenham College, Bachelor's degree in Law from Government Law College, and MBA from University of Southern California. Former positions include Vice President at Reliance Industries Limited, CEO at Religare Capital Markets, and Managing Director at Goldman Sachs (Asia) LLC. Cofounder and Director since 2019.

Ms. Rita Teaotia: Indian Administrative Service officer (Gujarat cadre, 1981 batch) with 41 years experience. Former Managing Director of Gujarat Industries Power Company Ltd, Additional Secretary/Special Secretary in Ministry of Telecommunications and Information Technology, Commerce Secretary in Ministry of Commerce & Industry (July 2015-July 2018). Former Chairperson of Food Safety & Standards Authority of India (2018-2021). Currently serves as Independent Director on boards of Transpek Industries Ltd, Supreme Petrochem and Avenue Supermarts Ltd.

ESOP Grant Details

  • Number of Options: 2,000
  • Total Shares Covered: 2,000 equity shares (face value ₹5 each)
  • Each option carries right to 1 equity share
  • Exercise Price: Based on 3-month average of daily opening and closing price with maximum 20% discount, not lower than face value
  • Total ESOP Plan Limit: 200,000 Options (0.48% of total paid-up capital)
  • Current Grant: 2,000 Options (0.0048% of total paid-up capital)
  • Vesting: Based on tenure and performance parameters

Committee Composition

Nomination and Remuneration Committee (w.e.f. August 11, 2026):

  • Gautam Yogendra Trivedi (Independent Director) - Chairperson
  • Mahesh Pansukhlal Sarda (Independent Director) - Member
  • Rita Teaotia (Additional Independent Director) - Member

Audit Committee (w.e.f. August 11, 2026):

  • Mahesh Pansukhlal Sarda (Independent Director) - Chairperson
  • Rita Teaotia (Additional Independent Director) - Member
  • Gautam Yogendra Trivedi (Independent Director) - Member

Subsidiary Information

The consolidated results include 13 entities: Landmark Cars Limited (Holding Company) and 12 subsidiaries including Landmark Cars (East) Private Limited, Automark Motors Limited, Watermark Cars Private Limited, Benchmark Motors Private Limited, Landmark Premium Cars Private Limited, Landmark Mobility Private Limited, Landmark Lifestyle Cars Private Limited, Landmark Commercial Vehicles Private Limited, Aeromark Cars Private Limited, Landmark Automobiles Limited, Motorone India Private Limited, and Landmark Luxury Retail Private Limited (w.e.f. August 14, 2025).

Business Model Update

The dealership agreement with Mercedes-Benz India Private Limited has converted to an agency model where new car sales are made directly to customers by MBIL. The company earns commission on each sale, with values of cars sold on behalf of MBIL being ₹5,548.63 million (Q1 FY27), ₹4,821.60 million (Q4 FY26), ₹3,716.78 million (Q1 FY26), and ₹9,137.64 million (FY26).

Pending Corporate Action

The Board approved amalgamation of Landmark Cars (East) Private Limited with the company through a scheme filed with NCLT. Equity shares held in LCEPL will stand cancelled with no share issuance or cash payment. NCLT sanction is awaited.

Auditor Review

The financial results were reviewed by M S K C & Associates LLP (ICAI Firm Registration Number: 001595S/S000168) who concluded that nothing has come to their attention that causes them to believe the statements contain material misstatements.