Mahindra Logistics Ltd
Mahindra Logistics Ltd is an integrated logistics & mobility solutions provider. The company offers Supply Chain expertise to diverse industry verticals such as Automotive, Engineering, Consumer Goods, Pharmaceuticals, Telecommunications, Commodities, and E-commerce. [1]
- Market Cap ₹ 3,629 Cr.
- Current Price ₹ 366
- High / Low ₹ 435 / 218
- Stock P/E
- Book Value ₹ 115
- Dividend Yield 0.68 %
- ROCE 5.64 %
- ROE -7.96 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.17 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 12.0% over past five years.
- Company has a low return on equity of -4.35% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Transport Services Logistics Solution Provider
Part of BSE Allcap BSE Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,751 | 1,931 | 2,064 | 2,667 | 3,416 | 3,851 | 3,471 | 3,264 | 4,141 | 5,128 | 5,506 | 6,105 | 6,777 | |
| 1,699 | 1,874 | 2,012 | 2,590 | 3,296 | 3,700 | 3,313 | 3,129 | 3,956 | 4,868 | 5,275 | 5,820 | 6,436 | |
| Operating Profit | 51 | 57 | 52 | 76 | 120 | 152 | 158 | 135 | 184 | 260 | 231 | 284 | 342 |
| OPM % | 3% | 3% | 3% | 3% | 4% | 4% | 5% | 4% | 4% | 5% | 4% | 5% | 5% |
| 6 | 9 | 13 | 10 | 6 | 7 | 14 | 14 | 13 | 16 | 20 | 15 | 8 | |
| Interest | 0 | 0 | 1 | 3 | 4 | 3 | 18 | 20 | 30 | 52 | 68 | 81 | 81 |
| Depreciation | 3 | 6 | 8 | 15 | 20 | 22 | 73 | 90 | 142 | 190 | 209 | 226 | 266 |
| Profit before tax | 54 | 59 | 56 | 68 | 102 | 133 | 81 | 39 | 26 | 35 | -26 | -8 | 2 |
| Tax % | 33% | 35% | 36% | 32% | 36% | 35% | 32% | 26% | 43% | 21% | 97% | 292% | |
| 37 | 39 | 36 | 46 | 65 | 86 | 55 | 29 | 15 | 25 | -53 | -30 | -17 | |
| EPS in Rs | 4.51 | 4.71 | 4.40 | 4.88 | 6.54 | 8.72 | 5.60 | 3.05 | 1.78 | 2.65 | -5.53 | -3.61 | -2.48 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 17% | 15% | 19% | 60% | 82% | 68% | -33% | -50% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 12% |
| 3 Years: | 14% |
| TTM: | 13% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 43% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | 4% |
| 1 Year: | 49% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | -1% |
| 3 Years: | -4% |
| Last Year: | -8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 59 | 60 | 60 | 68 | 71 | 71 | 72 | 72 | 72 | 72 | 72 | 72 | 99 |
| Reserves | 65 | 205 | 242 | 280 | 348 | 427 | 473 | 496 | 475 | 490 | 420 | 366 | 1,046 |
| 0 | 4 | 28 | 34 | 26 | 38 | 201 | 269 | 402 | 834 | 739 | 869 | 676 | |
| 211 | 250 | 262 | 435 | 540 | 669 | 676 | 849 | 1,027 | 1,157 | 1,245 | 1,272 | 1,307 | |
| Total Liabilities | 335 | 519 | 591 | 817 | 986 | 1,205 | 1,422 | 1,687 | 1,975 | 2,553 | 2,477 | 2,579 | 3,128 |
| 16 | 26 | 50 | 62 | 66 | 71 | 231 | 361 | 501 | 830 | 836 | 930 | 1,137 | |
| CWIP | 0 | 0 | 3 | 1 | 1 | 3 | 15 | 3 | 14 | 4 | 16 | 46 | 24 |
| Investments | 0 | 110 | 68 | 58 | 50 | 81 | 3 | 55 | 118 | 100 | 6 | 23 | 11 |
| 319 | 383 | 471 | 697 | 870 | 1,050 | 1,173 | 1,268 | 1,343 | 1,620 | 1,619 | 1,581 | 1,956 | |
| Total Assets | 335 | 519 | 591 | 817 | 986 | 1,205 | 1,422 | 1,687 | 1,975 | 2,553 | 2,477 | 2,579 | 3,128 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 27 | -48 | -34 | 12 | 95 | 85 | 294 | 191 | 119 | 227 | 343 | ||
| -165 | 1 | -3 | 0 | -95 | 36 | -108 | -140 | -310 | -53 | -155 | ||
| 103 | 18 | 4 | 4 | -11 | -76 | -87 | -117 | 183 | -276 | -148 | ||
| Net Cash Flow | -35 | -28 | -33 | 16 | -11 | 45 | 98 | -66 | -8 | -102 | 41 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 32 | 38 | 43 | 56 | 56 | 49 | 56 | 54 | 43 | 46 | 47 | 37 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 32 | 38 | 43 | 56 | 56 | 49 | 56 | 54 | 43 | 46 | 47 | 37 |
| Working Capital Days | -0 | 3 | 15 | 18 | 15 | 15 | 16 | 4 | -11 | -17 | -12 | -4 |
| ROCE % | 52% | 30% | 19% | 20% | 25% | 28% | 15% | 8% | 6% | 7% | 3% | 6% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Warehousing Space Under Management Million Sq. Ft. |
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| Revenue Contribution from Mahindra Group % |
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| Total Pin-codes Covered Number |
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| Freight Forwarding - Ocean Freight Volume TEU |
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| Last Mile Delivery - Average Orders Per Day Orders |
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| Mobility - Number of Trips Per Day Trips |
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Documents
Announcements
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - GST
16 Mar - Received ₹28,72,901 GST penalty order dated 16 Mar 2026; interest ₹33,13,831.97; expects no material impact.
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - GST
12 Mar - GST order dated 12-Mar-2026 imposing Rs25,48,124.86 penalty; interest Rs24,74,264.14; company expects favorable outcome.
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - GST
12 Mar - Deputy Commissioner imposed Rs 1,57,58,256.97 GST demand and penalties; Order dated 11 Mar 2026.
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Announcement under Regulation 30 (LODR)-Change in Management
9 Mar - Appointment of Yash Jalta as Head–Fleet Service Business, effective 10 March 2026.
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015
7 Mar - GST penalty order Rs.8,86,944 dated 7 Mar 2026; total demand+interest+penalty ~Rs.27.92 lakh.
Annual reports
Concalls
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Feb 2026Transcript PPT
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Service Portfolio
a) Contract Logistics:[1][2]
The company offers end-to-end contract logistics solutions including transportation, warehousing, stores & line feed, fulfilment services, and value-added services (VAS). It manages 20.5+ million sq. ft. of warehouse space across 400+ locations, supported by a fleet of 15,000+ vehicles, ~1,500 trucks per month, and 1,500+ business associates.