Mahindra Logistics Returns to PAT Profitability in FY26

Mahindra Logistics returned to consolidated PAT profitability of INR2.3 crores in FY26 after two consecutive years of losses, driven by operational discipline.
The Express business (MESPL) achieved a significant turnaround with 25% revenue growth and became gross margin positive, nearing EBITDA breakeven.
Company-wide gross margin expanded to 10.5% in Q4 FY26, supported by a 9 lakh sq ft reduction in white space and improved contract economics.
Management highlighted headwinds in the Freight Forwarding segment due to the West Asia geopolitical crisis impacting global trade flows.