Aditya Kondawar on pros and cons of Landmark Cars IPO
“The company’s financials are good in the sense that they generate a good amount of free cash flow but on the other hand, when I compare FY22 to FY23, the growth is not that meaningful. The company’s margins are very low in the sense that it is a dealership business at best which has no moat but at the same time, a lot of premiumisation is happening in the economy.”
