Mahindra Logistics Ltd

Mahindra Logistics receives reaffirmed ratings and assignments from ICRA, including for bank limits

28 Aug 2026

Mahindra Logistics Ltd. announced reaffirmations and assignments of ratings across various instruments by ICRA, including reaffirmation of its Long Term/Short Term - Fund based/ Non -Fund based rating of [ICRA]AA(Stable)/ [ICRA]A1+ for a total amount of 350, its Commercial Paper rating of [ICRA]A1+ for 100, and reaffirmed ratings for Financial Sector Regulator instruments of 350.00, also at [ICRA]AA (Stable)/ [ICRA]A1+, alongside ratings assigned on August 25, 2026, for Bank Limits from HDFC Bank Limited (100.00), Kotak Mahindra Bank Limited (100.00), Axis Bank Limited (100.00), and ICICI Bank Limited (50.00), and an assigned Commercial Paper rating of [ICRA]A1+ for 100.00; additionally, ICRA has noted a rights issue of Rs. 749.3 crore utilized for debt reduction, resulting in deleveraging with Total debt to OPBITDA reduced to 1.7 times from 3.1 times in FY2026 and gearing moderated to around 0.5 times from 1.9 times in FY2025, while N/A has reaffirmed a rating of AAA (Stable) for the parent company, Mahindra & Mahindra Limited (M&M), and A1+ for financial support likelihood.

Mahindra Logistics jumps as Q1 PAT turns profitable

20 Jul 2026

Mahindra Logistics jumped 4.23% to Rs 403.75 after the integrated logistics and mobility solutions provider reported a strong turnaround in earnings for the quarter ended 30 June 2026.

The company's consolidated net profit stood at Rs 25.39 crore in Q1 FY27, compared with a net loss of Rs 10.80 crore in Q1 FY26. Profit increased 25.76% QoQ from Rs 20.19 crore in Q4 FY26. Revenue from operations increased 23.29% YoY and 11.83% QoQ to Rs 2,002.88 crore in the June 2026 quarter. Profit before tax stood at Rs 39.06 crore in Q1 FY27, compared with a pre-tax loss of Rs 5.82 crore in Q1 FY26. PBT increased 22.25% QoQ from Rs 31.95 crore in Q4 FY26. EBITDA increased 51% YoY and 3% QoQ to Rs 115 crore during the quarter. On the cost front, total expenses increased 20.68% YoY to Rs 1,973.60 crore. Operating expenses rose 22.88% YoY to Rs 1,729.40 crore, while employee benefit expenses increased 9.01% YoY to Rs 113.89 crore. Finance costs declined 38.53% YoY to Rs 13.83 crore, while depreciation and amortisation expenses rose 12% YoY to Rs 72.31 crore. Current tax expense rose to Rs 15.21 crore from Rs 4.52 crore a year ago. Operationally, the Contract Logistics business grew 26% YoY, with EBITDA rising 31%, supported by operating efficiencies and improved customer profitability. The Express business reported 58% YoY and 10% QoQ revenue growth, with gross margin and EBITDA improving for the fourth consecutive quarter. The Mobility business expanded 38% YoY, while EBITDA increased 8%. The Last Mile Delivery business reported EBITDA of Rs 2.6 crore, compared with a loss of Rs 0.5 crore a year ago, despite a 16% YoY decline in revenue due to portfolio recalibration. Warehouse space under management increased by 1.52 million sq. ft. sequentially to 21.9 million sq. ft. Managing director and CEO Hemant Sikka said the quarter reflected the company's transition from a transformation journey to a growth journey, driven by strong execution, operational excellence and improved customer economics. He said Mahindra Logistics remains focused on profitable growth, technology-led solutions and becoming India's leading logistics services provider. Mahindra Logistics is an integrated third-party logistics and enterprise mobility solutions provider serving more than 400 corporate customers across industries including automotive, engineering, consumer goods and e-commerce. Powered by Capital Market - Live News

Mahindra Logistics reports turnaround Q4 numbers

24 Apr 2026

Mahindra Logistics's consolidated net profit of Rs 22.36 crore in Q4 FY26, compared with a net loss of Rs 5.29 crore in Q4 FY25.

Revenue from operations jumped 14.13% year-on-year (YoY) to Rs 1,791.41 crore for the quarter ended 31 March 2026. Profit before tax stood at Rs 31.95 crore in Q4 FY26, compared with Rs 0.95 crore in Q4 FY25. EBITDA stood at Rs 112 crore in Q4 FY26, registering a growth of 43.59% compared with Rs 112 crore posted in Q4 FY25. Total expenses increased 12.25% to Rs 1,763.25 crore in Q4 FY26 as compared with Rs 1,570.75 crore in Q4 FY25. Operating expenses was at Rs 1,535.13 crore (up 12.98% YoY), employee benefit expenses stood at Rs 106.26 crore (up 11.11% YoY) and finance cost was at Rs 14.30 crore (down 30.41% YoY) during the period under review. The company reported a stronger consolidated performance for FY26, with revenue rising to Rs 6,999 crore from Rs 6,105 crore in FY25, reflecting steady business growth. EBITDA increased to Rs 376 crore compared to Rs 284 crore in the previous fiscal, indicating improved operational efficiency. Operational profit after tax (PAT) stood at Rs 8.2 crore, a significant turnaround from a loss of Rs 35.8 crore in FY25. Reported PAT came in at Rs 2.3 crore for the year. The company has reported strong revenue growth of 15% driven across business verticals. Operating and financial discipline has resulted in a return to profitability after two financial years, with reported FY26 PAT of Rs 2.3 crores and Operational PAT of Rs 8.2 crores. The Express Business has grown its revenue by 25% YoY. Network optimization, yield actions across customers, coupled with effective cost control and focus on maintaining and improving Network Service Levels (NSL) have driven steady gross margin expansion over the last three quarters. The Express Business delivered positive GM of 1.3% in FY26. Freight Forwarding demonstrated resilience with 14% revenue growth YoY despite a challenging global trade environment. EBITDA grew 48%, driven by margin expansion on the back of traction in the nomination business and better penetration with key customers. Mobility recorded a 22% increase in revenue and a 45% growth in EBITDA YoY driven by new additions to the B2B portfolio and the successful launch of Alyte Prive, a premium, tech-enabled B2C mobility service offering airport-to-city and intercity travel. Last Mile Delivery (LMD) has consolidated its presence across customers, exiting unviable businesses and strengthening presence in high-potential areas. It continues to demonstrate strong execution, leveraging technology, human capital and process discipline. In Q4 F26, the business generated EBITDA of Rs 2.2 cr vs Rs 1 cr loss in Q3 FY26. Warehousing operations maintained scale with 20.4 million square feet space under management. The Company made meaningful progress in optimizing its portfolio, and white space reduction is on track Hemant Sikka, managing director and CEO of Mahindra Logistics, said, 'Q4 FY26 reflects sustained momentum in our transformation journey. Building on last quarter's return to profitability, we saw stronger execution discipline, tighter operational rigor, sharper focus on customer level economics, and positive customer feedback on service reliability, responsiveness, and operating standards, enabled by a more stable and aligned leadership structure. These Improvements were driven by stronger performance across our contract logistics businesses (with multiple wins across segments), meaningful progress in the Express business turnaround, and sustained focus on operational excellence. Alongside these, our presence in e-commerce and quick commerce continues to grow strongly. The transformation at Mahindra Logistics is now firmly embedded and gaining traction. We remain committed to becoming the #1 Logistics services provider in India, delivering superior customer experience through technology led solutions along with a passionate team.' The board has recommended a final dividend of Rs 2.50 per equity share (25%) for FY26, subject to shareholder approval at the upcoming AGM. The record date is 10 July 2026, and the dividend will be paid after 20 July 2026, within stipulated timelines. Mahindra Logistics (MLL) is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility. Shares of Mahindra Logistics fell 3.79% to Rs 426.30 on the BSE.