Mumbai, 21st October,2024: Mahindra Logistics Ltd. (MLL), one of India’s integrated logistics
& mobility solutions providers, today announced its unaudited consolidated financial results
for the quarter and half year ended 30th September, 2024.
Q2 FY25 (Consolidated) performance compared with Q2 FY24
• Revenue Rs. 1,521 crores as compared to Rs. 1,365 crores.
• EBITDA Rs.66 crores as compared to Rs.54 crores.
• PBT Rs. (5.0) crores as compared to Rs. (8.2) crores.
• PAT loss Rs. 10.7 crores compared to Rs. 15.9 crores.
• EPS (Diluted) Rs. (1.50) as compared to Rs. (2.21)
H1 FY25 (Consolidated) performance compared with H1 FY24
• Revenue Rs.2,941 crores as compared to Rs.2,658 crores.
• EBITDA Rs.133 crores as compared to Rs.120 crores.
• PBT Rs. (7.5) crores as compared to Rs. (7.6) crores
• PAT Rs. (20.1) crores as compared to Rs (24.5) crores.
• EPS (Diluted) Rs. (2.79) as compared to Rs (3.40)
Q2 FY25 MLL Standalone compared with Q2 FY24
• Revenue Rs.1,236 crores as compared to Rs.1,136 crores.
• EBITDA Rs.69 crores as compared to Rs.74 crores.
• PBT Rs.11.6 crores as compared to Rs. 25.6 crores
• PAT Rs.8.5 crores as compared to Rs.18.6 crores.
• EPS (Diluted) Rs. 1.18 as compared to Rs 2.58
H1 FY25 MLL Standalone compared with H1 FY24
• Revenue Rs.2,393 crores as compared to Rs.2,187 crores.
• EBITDA Rs.141 crores as compared to Rs.157 crores.
• PBT Rs.25.3 crores as compared to Rs.56.7 crores
• PAT Rs.18.8 crores as compared to Rs.41.6 crores.
• EPS (Diluted) Rs. 2.60 as compared to Rs 5.76
Key Highlights
• Overall Revenues during Q2 FY25 demonstrated a strong growth of 11.5% on YOY
across businesses.
• Continued the focus on expanding capacity and making investments in the Eastern
and North Eastern region, focussing on warehouses, delivery stations and express
logistics. We expect these investments to be accretive to our growth across businesses
in the later part of the year.
• The revenues for Freight forwarding the business grew by 65% on YoY basis on the
back of improved pricing in Ocean freight.
• The ongoing geopolitical conflicts continue to impact the cross-border market and
remain a key monitorable.
• The losses for the Express business were reduced by 32% on YoY basis, driven by
continuous cost optimization. The EBITDA losses were also reduced by 10% on QoQ
basis. Growth in volumes continues to be a key priority for the business as it
progresses towards an EBITDA breakeven.
• 3PL business proactively geared up and built capacity to meet the increased demand
during the festive peak in Q3 FY25.
• Warehouse space under management in the 3PL business stood at over 21.6 Mn.
Square feet.
Commenting on the performance, Mr. Rampraveen Swaminathan, Managing Director
and CEO of Mahindra Logistics Ltd. said,
“During the quarter, we saw strong revenue performance with year-on-year growth of 11.5%.
Our 3PL contract logistics, cross border and last mile delivery segments registered strong
growth driven by account additions, new offerings and a stable cross border pricing
environment. During the quarter, we expanded our offerings for transportation & green
logistics. We continue to expand the overall network, with new infrastructure expansions in
the east to support warehousing, last mile and express segments, which should help drive
future growth. With the upcoming peak in Q3, we have expanded capacity and resources in
contract logistics and last mile delivery, having a seasonal impact on operating earnings in the
quarter. A soft demand environment and operating conditions impacted the express business.
We believe H2 will be stronger driven by the festive peak and impact of margin improvement
programs across all the businesses.”
