Date: 20 July 2026

Financial Performance Overview

Mahindra Logistics Ltd. announced its unaudited consolidated financial results for the quarter ended 30th June, 2026 (Q1 F27).

Key Financial Metrics (Consolidated)

  • Revenue: ₹2,003 crore, representing 23% year-over-year (YoY) growth and 12% quarter-over-quarter (QoQ) growth
  • EBITDA: ₹115 crore, showing 51% YoY growth and 3% QoQ growth
  • PAT: ₹25.4 crore, marking the fourth consecutive quarter of profitability improvement
  • Comparison: Versus loss of ₹10.8 crore in Q1 F26 and profit of ₹20.2 crore in Q4 F26
  • EPS (Diluted): ₹2.55 compared to ₹(1.44) in Q1 F26 and ₹2.03 in Q4 F26

Segment-wise Performance Breakdown

Contract Logistics Business

  • Revenue growth of 26% YoY
  • EBITDA growth of 31% YoY
  • Performance driven by operating efficiencies, cost discipline, sustained improvement in customer level profitability, and operating leverage
  • Margin improvement exceeded revenue growth

Express Business

  • Revenue growth of 58% YoY and 10% sequentially (QoQ)
  • Growth driven by mix of volumes and yield improvement
  • Gross margin and EBITDA improvement for the fourth consecutive quarter

Last Mile Delivery Business

  • EBITDA improved to ₹2.6 crore versus loss of ₹0.5 crore in Q1 F26
  • Business degrew 16% YoY due to portfolio recalibration
  • Strategic choice to prioritize profitable customers amid sustained pricing and cost pressures

Mobility Business

  • Revenue expansion of 38% YoY
  • Driven by new customer additions in the B2B segment
  • EBITDA grew by 8% YoY

Operational Metrics

  • Warehouse space under management: 21.9 million square feet
  • Quarterly increase: 1.52 million square feet over previous quarter
  • Expansion due to addition of new sites for specific customers

Management Commentary

Mr. Hemant Sikka, Managing Director and CEO, commented:

"Q1 F27 reflects the continued momentum of our transformation journey evolving into a growth journey. Strong revenue growth, a return to healthy profitability, and improved business fundamentals demonstrate the impact of disciplined execution, sharper customer-level economics, and a relentless focus on operational excellence.

Performance this quarter was driven by continued strength in our Contract Logistics business with new customer wins across sectors, significant progress in the Express business turnaround, and sustained improvements in operational efficiency across the network. At the same time, our e-commerce and quick commerce business continues to scale, reinforcing our position in fast-growing logistics segments.

The foundations we have built over the last year are now translating into stronger business outcomes. We remain focused on profitable growth, intelligent scale, superior customer experience, and our vision of becoming India's #1 logistics services provider through technology-led solutions and a passionate team."

Company Background

Mahindra Logistics Limited (MLL) is an integrated third-party logistics (3PL) service provider specializing in supply chain management and enterprise mobility. The company serves over 400+ corporate customers across various industries including Automobile, Engineering, Consumer Goods and E-commerce. The company pursues an "asset-right" business model, providing customized and technology-enabled solutions across the supply chain and people mobility services.