Small Logistics

Mahindra Logistics Ltd.

MAHLOG

₹325.5

0.43% (1.4)

Market Cap

₹2,334 Cr.

P/E

0.00

Mahindra Logistics Ltd.
Overview
Financials
Benchmarking
Shareholding

Mahindra Logistics Ltd.

Mahindra Logistics Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on Mahindra Logistics Ltd. Shareprice

Has the share price of Mahindra Logistics grown faster than its competition?

Mahindra Logistics has given lower returns compared to its competitors.
Mahindra Logistics has grown at ~-12.04% over the last 3yrs while peers have grown at a median rate of -3.89%

Is Mahindra Logistics stock expensive?

Mahindra Logistics is not expensive.
Latest PE of Mahindra Logistics is 0.0, while 3 year average PE is 96.13.
Also latest EV/EBITDA of Mahindra Logistics is 9.44 while 3yr average is 16.99.

View FAQ's On Business

Growth Table

Mahindra Logistics Ltd.
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-23.90	-5.31	-11.76	-12.25	2.23	-6.78	-7.15	—	—	—
TTM EPS CAGR	—	—	—	—	—	—	—	—	—	—
Sales CAGR	10.88	9.11	13.81	16.95	11.95	7.98	8.65	19.81	—	—
PAT Margin (Abs Growth)	-1.45	-1.29	-1.82	-2.52	-3.17	-2.84	-2.65	-2.65	-2.92	-3.02
PE CAGR	—	-100.00	-100.00	-100.00	-100.00	-100.00	-100.00	—	—	—
CFO CAGR	90.00	8.99	-8.25	27.67	19.03	63.35	—	—	26.79	16.66

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

Mahindra Logistics Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	586	804	972	1,186	1,402	1,665	1,949	2,511	2,432	2,580
Non Current Assets	71.43	147	202	221	435	483	724	1,171	1,137	1,182
Net Block	49.51	61.51	65.89	71.31	231	361	501	830	836	533
Capital Work in Progress	2.84	0.69	0.55	2.59	15.04	3.06	13.82	3.78	16.24	45.76
Intangible Assets Under Development	0.42	—	—	—	—	0.99	13.39	0.53	0.19	—
Long Term Investments	0.02	—	—	3.75	3.14	18.75	46.11	32.63	—	1.99
Current Assets	523	668	782	982	985	1,204	1,252	1,382	1,340	1,398
Inventory	2.89	—	—	—	—	—	1.43	0.41	—	—
Accounts Receivable	245	412	520	518	536	486	489	652	702	625
Short Term Investments	68.02	58.04	50.05	77.52	—	55.07	118	67.24	5.86	20.64
Cash & Bank Balances	91.63	50.18	66.03	69.95	99.53	198	134	126	71.07	75.97
Liabilities	586	804	972	1,186	1,402	1,665	1,949	2,511	2,432	2,580
Shareholders Funds	302	348	420	498	545	568	546	562	492	438
Share Capital	101	68.00	71.14	71.45	71.54	71.67	71.87	71.98	72.04	72.13
Reserves	201	280	348	427	458	482	464	483	414	366
Non Current Liabilities	25.37	19.67	18.73	6.52	118	174	272	523	484	754
Secured Loans	20.11	19.77	18.07	8.89	2.31	0.90	0.65	220	220	—
Unsecured Loans	—	—	—	—	—	—	—	3.60	3.60	410
Current Liabilities	256	431	527	676	734	920	1,130	1,428	1,444	1,372
Accounts Payable	226	399	486	600	617	766	868	1,048	1,111	1,100
Short Term Loans	3.48	8.24	8.12	19.63	27.00	25.53	39.85	178	115	13.71

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

Mahindra Logistics Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	2,084	2,667	3,416	3,851	3,471	3,264	4,141	5,128	5,506	6,105
Operating Expenses	2,032	2,590	3,298	3,700	3,313	3,130	3,957	4,875	5,281	5,821
Raw Material	20.08	—	—	—	—	—	9.81	6.58	0.41	0.00
Material Cost (%)	0.96	0.00	0.00	0.00	0.00	0.00	0.23	0.14	0.01	0.00
Employee Cost	151	188	229	264	307	296	315	355	405	404
Power & Fuel Cost	2.50	16.10	23.89	28.97	25.02	23.92	22.26	23.55	35.05	—
Operating Profit	51.42	76.26	118	151	158	134	183	254	225	284
Other Income	13.49	9.65	7.74	7.63	13.98	17.47	14.50	22.06	22.03	15.82
OPM (%)	2.47	2.86	3.45	3.93	4.56	4.11	4.43	4.94	4.08	4.65
Depreciation and Amortisation	8.41	14.60	19.73	21.95	73.43	89.65	142	190	209	226
Interest	1.18	3.49	3.77	3.48	17.63	20.09	29.82	51.57	68.16	81.21
Profit Before Tax	55.32	67.82	102	133	81.19	39.20	26.31	34.54	-26.39	-7.66
Tax	19.45	21.72	36.84	46.79	25.74	10.02	11.25	7.12	25.68	22.33
Net Profit	36.44	45.62	64.01	85.64	55.12	30.00	17.56	26.28	-54.74	-29.99
Number of shares(Crs)	—	7.03	7.11	7.14	7.15	7.17	7.19	7.20	7.20	—
Dividend Payout Ratio(%)	0.00	0.00	16.67	15.02	19.47	59.72	81.86	68.47	—	—

TTM Values as of Mar 2025

Cash Flow

Mahindra Logistics Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	-47.89	-34.18	11.94	94.95	85.38	294	191	119	227	343
Profit Before Tax	55.32	67.82	102	133	81.19	39.20	26.33	34.54	-26.39	-7.66
Adjustments	-0.67	16.26	28.18	29.96	102	119	177	246	297	316
OCF Before Working Capital	54.66	84.08	130	163	183	158	203	280	271	309
Working Capital Changes	-64.53	-65.64	-48.30	-26.51	-65.26	83.83	50.69	-87.24	-31.24	9.46
Taxes Paid	-38.02	-52.62	-70.05	-41.94	-32.50	51.49	-62.55	-73.83	-12.94	25.15
Cash from Investing Activity	19.01	-3.44	0.06	-94.69	35.51	-108	-140	-310	-54.29	-155
Net Fixed Assets Purchased	-35.25	-23.13	-37.20	-34.16	-61.72	-68.97	-91.42	-62.34	-61.70	-176
Fixed Assets Purchased	-35.38	-23.21	-37.59	-34.48	-62.41	-71.15	-106	-71.03	-70.94	-181
Fixed Assets Sold	0.13	0.08	0.39	0.32	0.69	2.18	14.79	8.69	9.24	5.03
Investment Purchased	—	-1,562	-1,802	-1,917	-649	-713	-1,236	-1,194	-1,161	—
Investment Sold	42.10	1,572	1,810	1,873	743	658	1,187	992	1,164	—
Interest Recieved	8.87	8.58	3.34	3.28	3.60	4.78	1.26	4.72	4.41	1.41
Dividends Recieved	1.53	0.53	0.37	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	-4.46	—	-4.00	—	-50.41	—	—
Cash from Financing Activity	18.41	4.17	3.85	-11.34	-76.31	-87.49	-117	183	-276	-148
Proceeds From Shares	—	1.35	7.20	2.67	0.37	0.17	0.52	0.11	0.01	—
Net Long Term Borrowings	19.59	6.16	0.31	2.33	-1.81	-6.70	0.00	223	0.00	199
Proceeds From Borrowings	19.59	11.14	7.56	10.77	7.37	112	—	223	—	283
Repayment From Borrowings	—	-4.98	-7.25	-8.44	-9.18	-119	—	—	—	-84.35
Interest Paid	-1.18	-3.34	-3.66	-3.48	-3.60	-4.22	-3.92	-17.37	-31.84	-42.55
Dividend Paid	—	—	—	-12.86	-15.50	-10.74	-17.94	-14.39	-18.01	-18.01
Net Cash Flow	-10.47	-33.45	15.85	-11.08	44.58	98.23	-66.33	-7.68	-104	40.70
Opening Cash & Cash Equivalents	102	83.63	50.18	66.03	54.95	99.53	200	134	126	24.39
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	91.63	50.18	66.03	54.95	99.53	198	134	126	24.39	65.09
Net Capex (est)	35.25	23.13	37.20	34.16	61.72	68.97	91.42	62.34	61.70	176
Free Cash Flow (est)	-83.14	-57.31	-25.26	60.79	23.66	225	99.56	57.06	165	167

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

Mahindra Logistics Ltd.
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.98	2.03	1.55	1.49	1.45	1.34	1.31	1.11	0.97	0.93
Liquid Assets (Crs)	479	520	668	782	982	985	1,204	1,250	1,382	1,340
Current Liabilities (Crs)	242	256	431	527	676	734	920	1,130	1,428	1,444
Current Ratio	1.99	2.05	1.55	1.49	1.45	1.34	1.31	1.11	0.97	0.93
Current Assets (Crs)	482	523	668	782	982	985	1,204	1,252	1,382	1,340
Current Liabilities (Crs)	242	256	431	527	676	734	920	1,130	1,428	1,444
Interest Coverage Ratio	266	47.88	20.43	28.08	39.34	5.61	2.95	1.88	1.67	0.61
EBIT (Crs)	60.44	56.50	71.31	106	137	98.82	62.04	56.13	86.11	37.95
Interest Expenses (Crs)	0.23	1.18	3.49	3.77	3.48	17.63	20.09	29.82	51.57	68.16
Fixed Asset Turnover	35.21	24.01	26.14	27.32	25.74	9.28	5.72	4.84	3.90	3.84
Net Sales (Crs)	1,964	2,084	2,667	3,416	3,851	3,471	3,264	4,141	5,128	5,506
Fixed Assets (Crs)	55.79	86.78	102	125	150	374	571	856	1,316	1,433
Cash Conversion Cycle	-2,378	-4,054	-0.46	-0.72	-5.90	-11.99	-23.70	43.08	39.97	43.90
Inventory Days	0.51	0.50	0.00	0.00	0.00	0.00	0.00	0.13	0.06	0.00
Days Receivable	37.25	39.06	45.00	49.80	49.20	55.41	57.10	42.95	39.91	43.90
Days Payable	2,416	4,093	45.46	50.52	55.10	67.40	80.81	0.00	0.00	0.00
Debt to Equity Ratio	0.02	0.09	0.10	0.08	0.08	0.07	0.05	0.07	0.71	0.69
Total Debt (Crs)	4.02	28.16	34.32	34.63	37.70	35.89	29.19	40.50	401	339
Shareholders Equity (Crs)	265	302	348	420	498	545	568	546	562	492
Free Cash Flow/Sales (%)	0.81	-3.99	-2.15	-0.74	1.58	0.68	6.89	2.40	1.11	3.00
Free Cash Flow(est) (Crs)	15.98	-83.14	-57.31	-25.26	60.79	23.66	225	99.56	57.06	165
Net Sales (Crs)	1,964	2,084	2,667	3,416	3,851	3,471	3,264	4,141	5,128	5,506
Profitability Ratios
Gross Margin (%)	98.29	99.04	100.00	100.00	100.00	100.00	100.00	99.77	99.86	99.99
Op Profit Margin (%)	2.97	2.47	2.86	3.45	3.93	4.56	4.11	4.43	4.94	4.08
Operating Profit (Crs)	66.41	64.91	85.91	126	159	172	152	198	276	247
Net Sales (Crs)	1,964	2,084	2,667	3,416	3,851	3,471	3,264	4,141	5,128	5,506
Net Profit Margin (%)	2.03	1.75	1.71	1.87	2.22	1.59	0.92	0.42	0.51	-0.99
Net Profit (Crs)	39.96	36.44	45.62	64.01	85.64	55.12	30.00	17.56	26.28	-54.74
Net Sales (Crs)	1,964	2,084	2,667	3,416	3,851	3,471	3,264	4,141	5,128	5,506
ROCE (%)	22.12	17.12	19.16	23.78	26.82	14.80	8.33	6.85	7.95	3.84
EBIT (Crs)	60.44	56.50	71.31	106	137	98.82	62.04	56.13	86.11	37.95
Capital Employed (Crs)	273	330	372	445	510	668	745	819	1,083	988
Return on Assets (%)	7.75	6.22	5.68	6.59	7.22	3.93	1.80	0.90	1.05	-2.25
Net Profit (Crs)	39.96	36.44	45.62	64.01	85.64	55.12	30.00	17.56	26.28	-54.74
Total Assets (Crs)	516	586	804	972	1,186	1,402	1,665	1,949	2,511	2,432
ROIC (%)	63.14	17.38	16.82	24.33	27.04	14.11	7.21	4.69	7.34	4.51
Op Profit after Taxes (Crs)	34.05	27.88	41.91	62.73	83.96	57.94	33.18	23.83	50.85	31.41
Invested Capital (Crs)	53.92	160	249	258	310	411	460	508	693	696
ROE (%)	15.06	12.08	13.12	15.26	17.19	10.12	5.28	3.21	4.68	-11.12
Net Profit Margin (%)	2.03	1.75	1.71	1.87	2.22	1.59	0.92	0.42	0.51	-0.99
Asset Turnover ratio	3.81	3.56	3.32	3.51	3.25	2.48	1.96	2.13	2.04	2.26
Equity Multiplier	1.94	1.94	2.31	2.32	2.38	2.57	2.93	3.57	4.47	4.94
Adjusted EPS	6.68	6.09	6.71	9.00	11.99	7.70	4.19	2.44	3.65	-7.60
Valuation Ratios
P/E	0.00	0.00	0.00	53.87	43.63	29.30	138	207	96.92	0.00
Price to Book	0.00	0.00	0.00	8.22	7.50	3.05	7.50	6.79	4.59	6.07
EV/EBITDA	0.04	0.57	0.61	27.20	23.32	9.01	26.27	17.93	10.24	13.02
Dividend Yield (%)	—	—	—	0.31	0.34	0.66	0.43	0.39	0.71	0.61

Quarterly Results

Mahindra Logistics Ltd.
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	1,330	1,273	1,293	1,365	1,397	1,451	1,420	1,521	1,594	1,570
Operating Expenses	1,267	1,209	1,227	1,311	1,345	1,394	1,354	1,455	1,521	1,492
Increase/Decrease in Stock	0.00	0.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Raw Material	0.00	0.01	0.39	0.00	0.02	0.00	0.00	0.00	0.00	0.00
Employee Cost	94.48	98.13	99.16	104	108	93.78	102	105	101	95.63
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	62.74	63.72	66.63	53.57	52.23	56.61	66.28	66.38	73.69	77.70
Other Income	5.58	3.83	6.18	6.58	2.26	2.88	5.67	1.73	6.25	2.17
Interest	14.97	16.93	17.78	16.53	16.42	17.43	19.49	19.12	22.05	20.55
PBDT	53.35	50.62	55.03	43.62	41.89	42.06	52.46	48.99	57.89	59.32
Depreciation and Amortization	49.80	55.25	54.46	51.79	51.46	51.28	54.96	53.96	59.01	58.39
Profit Before Tax	3.55	-4.63	0.57	-8.17	-9.57	-9.22	-2.50	-4.97	-1.12	0.93
Tax	1.88	-4.83	8.87	7.29	6.83	2.69	5.34	4.64	6.11	6.24
Profit After Tax	1.67	0.20	-8.30	-15.46	-16.40	-11.91	-7.84	-9.61	-7.23	-5.31
Exceptional Items	0.00	0.00	0.00	0.00	3.82	0.00	0.00	0.00	0.00	0.00
Net Profit	1.39	-0.82	-8.55	-15.93	-17.41	-12.85	-9.32	-10.75	-9.03	-6.75
Quarterly Ratios
EPS	0.19	-0.11	-1.19	-2.21	-2.42	-1.78	-1.29	-1.49	-1.25	-0.94
Operating Profit Margin	4.72	5.01	5.15	3.93	3.74	3.90	4.67	4.36	4.62	4.95
Net Profit Margin	0.13	0.02	-0.64	-1.13	-1.17	-0.82	-0.55	-0.63	-0.45	-0.34

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

#N/A.0

Implied Growth Rate over a 5 year period*

#N/A.0

Implied Growth Rate over a 10 year period*

#N/A.0

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Rhapson method.

Learn how to use Reverse DCF

FAQs on Mahindra Logistics Ltd. Financials

How strong is Mahindra Logistics balance sheet?

Balance sheet of Mahindra Logistics is strong.
But short term working capital might become an issue for this company.

Is the debt of Mahindra Logistics increasing or decreasing?

Yes, The net debt of Mahindra Logistics is increasing.
Latest net debt of Mahindra Logistics is ₹348 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹197 Crs.

Is the profitablity of Mahindra Logistics improving?

The profit is oscillating.
The profit of Mahindra Logistics is -₹29.99 Crs for TTM, -₹54.74 Crs for Mar 2024 and ₹26.28 Crs for Mar 2023.

Does Mahindra Logistics pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Mahindra Logistics latest dividend payout ratio is 68.47% and 3yr average dividend payout ratio is 75.17%

How has Mahindra Logistics allocated its funds?

Companies resources are majorly tied in miscellaneous assets

View FAQ's On Shareholding

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Mahindra Logistics Ltd.

Mahindra Logistics Ltd.

Has the share price of Mahindra Logistics grown faster than its competition?

Is Mahindra Logistics stock expensive?

How strong is Mahindra Logistics balance sheet?

Is the debt of Mahindra Logistics increasing or decreasing?

Is the profitablity of Mahindra Logistics improving?

Does Mahindra Logistics pay decent dividends?

How has Mahindra Logistics allocated its funds?

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