Landmark Cars543714Periodic business update

Q2 FY27 update: highest-ever quarterly proforma revenue of Rs. 1,943 crore, up 17.26% YoY

Q2 FY27 business update (proforma, provisional).

By ScoutQuest · Wed 14 Oct 2026, 2:02 PM IST · 2 min read

Q2FY27 Total Revenue from Operations (proforma, incl. agency sales): Rs. 1,943 crore in Q2FY27 vs Rs. 1,657 crore in Q2FY26, up 17.26% YoY
H1FY27 Total Revenue from Operations: Rs. 3,675 crore vs Rs. 3,073 crore, up 19.59%
Sequential Revenue Growth: up 12.18% over Q1FY27's Rs. 1,732 crore

Revenue at a record

Proforma total revenue from operations (including agency sales) for Q2FY27 was Rs. 1,943 crore, against Rs. 1,657 crore in Q2FY26, a rise of 17.26%.
Sequentially, this is 12.18% higher than the Rs. 1,732 crore recorded in Q1FY27.
For the half year, H1FY27 revenue was Rs. 3,675 crore versus Rs. 3,073 crore in H1FY26, up 19.59%.
Vehicle sales (including agency sales and pre-owned vehicle sales) stood at Rs. 1,662 crore in Q2FY27 against Rs. 1,403 crore, up 18.46%; Q1FY27 was Rs. 1,465 crore, up 13.45%; H1FY27 was Rs. 3,127 crore against Rs. 2,584 crore, up 21.01%.
After-sales service and spare parts and others contributed Rs. 281 crore in Q2FY27 against Rs. 254 crore, up 10.63%; Q1FY27 was Rs. 267 crore, up 5.24%; H1FY27 was Rs. 548 crore against Rs. 489 crore, up 12.07%.
The figures are presented in Rs. crore on a proforma basis, and the company states the information is provisional on a consolidated basis and subject to a limited review by its statutory auditors.

Why the numbers are called proforma

The proforma revenue includes revenue from the sale of cars through the Mercedes-Benz agency model. Under the agency agreement, customers now place orders directly with MBIL, on which LCL and LCEPL earn a commission on each sale of Mercedes-Benz cars.

What the company highlights

It recorded its highest-ever quarterly and half-yearly Total Revenue from Operations on a proforma basis, supported by outlet ramp-up and stabilisation.
H1 is seasonally weaker than H2, and business activity typically gains momentum during the festive period, which starts in October this year versus September last year.

New launches

Recent launches, including the Kia Sorento, MG Hector Tomahawk and BYD Sealion 7 Dynamic, are expected to commence full-scale deliveries from October.
The next quarter will feature key launches such as the India-made Mercedes-Benz GLC EV and BYD's luxury brand, Denza.
The company also expects improved availability of the Mercedes-Benz CLA EV, following strong customer demand and initial supply constraints.

Other points from the update

During the quarter, the company entered a strategic partnership with OLX India, part of CarTrade Tech, to develop an integrated phygital pre-owned car platform, combining OLX India's digital reach with the company's physical retail network.
Significant flooding in Gujarat during Q2FY27 affected business operations, impacting new vehicle sales and after-sales activities in the affected regions.

Outlook

The company remains optimistic about the festive season and expects to enter H2 on a strong footing, supported by a healthy pipeline of customer enquiries and bookings during the ongoing festive season, while remaining mindful of interest rate hikes and evolving macroeconomic conditions.

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