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LANDMARK CARS 2023-24 Annual Report Analysis
Mon, 2 Sep

LANDMARK CARS has announced its results for the year ended March 2024. Let us have a look at the detailed performance review of the company during FY23-24.

LANDMARK CARS Income Statement Analysis

  • Operating income during the year fell 2.8% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 6.9% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 6.6% in FY24 as against 6.9% in FY23.
  • Depreciation charges increased by 16.0% and finance costs increased by 4.2% YoY, respectively.
  • Other income declined by 20.2% YoY.
  • Net profit for the year declined by 32.8% YoY.
  • Net profit margins during the year declined from 2.5% in FY23 to 1.7% in FY24.

LANDMARK CARS Income Statement 2023-24

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Net Sales Rs m 33,824 32,879 -2.8%
Other income Rs m 121 96 -20.2%
Total Revenues Rs m 33,944 32,975 -2.9%
Gross profit Rs m 2,320 2,161 -6.9%
Depreciation Rs m 873 1,013 16.0%
Interest Rs m 527 549 4.2%
Profit before tax Rs m 1,041 695 -33.2%
Tax Rs m 190 123 -35.2%
Profit after tax Rs m 851 572 -32.8%
Gross profit margin % 6.9 6.6
Effective tax rate % 18.3 17.7
Net profit margin % 2.5 1.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Don't Miss: Key Information for Long-term Investors

LANDMARK CARS Balance Sheet Analysis

  • The company's current liabilities during FY24 stood at Rs 7 billion as compared to Rs 6 billion in FY23, thereby witnessing an increase of 29.2%.
  • Long-term debt stood at Rs 407 million as compared to Rs 260 million during FY23, a growth of 56.1%.
  • Current assets rose 29% and stood at Rs 9 billion, while fixed assets rose 16% and stood at Rs 6 billion in FY24.
  • Overall, the total assets and liabilities for FY24 stood at Rs 15 billion as against Rs 12 billion during FY23, thereby witnessing a growth of 23%.

LANDMARK CARS Balance Sheet as on March 2024

No. of Mths Year Ending 12 Mar-23* 12 Mar-24* % Change
Networth Rs m 4,634 5,370 15.9
 
Current Liabilities Rs m 5,513 7,120 29.2
Long-term Debt Rs m 260 407 56.1
Total Liabilities Rs m 12,472 15,337 23.0
 
Current assets Rs m 6,976 8,976 28.7
Fixed Assets Rs m 5,496 6,361 15.7
Total Assets Rs m 12,472 15,337 23.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



LANDMARK CARS Cash Flow Statement Analysis

  • LANDMARK CARS's cash flow from operating activities (CFO) during FY24 stood at Rs 408 million on a YoY basis.
  • Cash flow from investing activities (CFI) during FY24 stood at Rs -1 billion, an improvement of 56.9% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY24 stood at Rs 646 million, an improvement of 11,794% on a YoY basis.
  • Overall, net cash flows for the company during FY24 stood at Rs -79 million from the Rs -6 million net cash flows seen during FY23.

LANDMARK CARS Cash Flow Statement 2023-24

Particulars No. of months 12 12 % Change
Year Ending Mar-23 Mar-24
Cash Flow from Operating Activities Rs m 710 408 -42.5%
Cash Flow from Investing Activities Rs m -722 -1,133 -
Cash Flow from Financing Activities Rs m 5 646 11,793.7%
Net Cash Flow Rs m -6 -79 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Current Valuations for LANDMARK CARS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 13.9, an decline from the EPS of Rs 21.5 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 580.1, stands at 44.9 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 4.5 times, while the price to sales ratio stands at 0.7 times.
  • The company's price to cash flow (P/CF) ratio stood at 18.7 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-23* 12 Mar-24*
Sales per share (Unadj.) Rs 853.7 796.3
TTM Earnings per share Rs 21.5 13.9
Diluted earnings per share Rs 20.6 13.8
Price to Cash Flow x 13.0 18.7
TTM P/E ratio x 26.4 44.9
Price / Book Value ratio x 4.7 5.5
Market Cap Rs m 21,857 29,701
Dividends per share (Unadj.) Rs 2.3 1.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



Ratio Analysis for LANDMARK CARS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 1.3x during FY24, from 1.3x during FY23. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 2.3x during FY24, from 3.0x during FY23. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 10.7% during FY24, from 18.4% during FY24. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 21.5% during FY24, from 32.0% during FY23. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 7.3% during FY24, from 11.0% during FY23. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-23* 12 Mar-24*
Current ratio x 1.3 1.3
Debtors’ Days Days 11 15
Interest coverage x 3.0 2.3
Debt to equity ratio x 0.1 0.1
Return on assets % 11.0 7.3
Return on equity % 18.4 10.7
Return on capital employed % 32.0 21.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster



To see how LANDMARK CARS has performed over the last 5 years, please visit here.

LANDMARK CARS Share Price Performance

Over the last one year, LANDMARK CARS share price has moved down from Rs 702.3 to Rs 580.1, registering a loss of Rs 122.2 or around 17.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 58,856.2 (down 0.3%). Over the last one year it has moved up from 36,075.1 to 58,856.2, a gain of 22,781 points (up 63.1%).

Overall, the S&P BSE SENSEX is up 27.0% over the year.

(To know more, check out historical annual results for LANDMARK CARS and quarterly results for LANDMARK CARS)

Annual Report FAQs

What is the current share price of LANDMARK CARS?

LANDMARK CARS currently trades at Rs 634.6 per share. You can check out the latest share price performance of LANDMARK CARS here...

What was the revenue of LANDMARK CARS in FY24? How does it compare to earlier years?

The revenues of LANDMARK CARS stood at Rs 32,975 m in FY24, which was down -2.9% compared to Rs 33,944 m reported in FY23.

LANDMARK CARS' revenue has grown from Rs 22,289 m in FY20 to Rs 32,975 m in FY24.

Over the past 5 years, the revenue of LANDMARK CARS has grown at a CAGR of 10.3%.

What was the net profit of LANDMARK CARS in FY24? How does it compare to earlier years?

The net profit of LANDMARK CARS stood at Rs 572 m in FY24, which was down -32.8% compared to Rs 851 m reported in FY23.

This compares to a net profit of Rs 662 m in FY22 and a net profit of Rs 111 m in FY21.

Over the past 5 years, LANDMARK CARS net profit has grown at a CAGR of NaN%.

What does the cash flow statement of LANDMARK CARS reveal?

The cash flow statement is the financial statement that presents the cash inflows and outflows of a company during a given period of time.

This statement is one of the most useful tools for judging a company's liquidity position. The ratios and parameters in this statement helps test a company's financial health.

The cash flow statement of LANDMARK CARS reveals:

  • Cash flow from operations decreased in FY24 and stood at Rs 408 m as compared to Rs 710 m in FY23.
  • Cash flow from investments decreased in FY24 and stood at Rs -1,133 m as compared to Rs -722 m in FY23.
  • Cash flow from financial activity increased in FY24 and stood at Rs 646 m as compared to Rs 5 m in FY23.

Here's the cash flow statement of LANDMARK CARS for the past 5 years.

(Rs m)FY20FY21FY22FY23FY24
From Operations2,097428764710408
From Investments-659-220-339-722-1,133
From Financial Activity-1,483-334-3755646
Net Cashflow-45-12750-6-79

What does the Key Ratio analysis of LANDMARK CARS reveal?

Be it the company's profitability, operations effectiveness or utilization of funds, ratio analysis is an important tool which helps in making investment decisions.

The ratio/financial analysis of LANDMARK CARS reveals:

  • Operating profit margins witnessed a fall and stood at 6.6% in FY24 as against 6.9% in FY23.
  • Net profit margins declined from 2.5% in FY23 to 1.7% in FY24.
  • Debt to Equity ratio for FY24 stood at 0.1 as compared to 0.1 in FY23.

Here's the ratio/financial analysis of LANDMARK CARS for the past 5 years.

 FY20FY21FY22FY23FY24
Operating Profit Margin (%)3.35.65.96.96.6
Net Profit Margin (%)-1.30.62.22.51.7
Debt to Equity Ratio (x)0.30.30.20.10.1

 

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