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Informist, Thursday, Jul. 16, 2026

 

By Deesha Jadhav

 

MUMBAI – Mahindra Logistics Ltd. is expected to report a higher net profit for the June quarter led by an improvement in supply chain management, narrowing losses in the business-to-business express business, and Mahindra & Mahindra's auto volume growth, according to brokerages tracking the company.  

 

Mahindra Logistics is expected to report a consolidated net profit of INR 242.50 million, a turnaround from the loss of INR 108 million it had reported in the year-ago quarter, according to the average of estimates from four brokerages. Sequentially, the net profit is expected to increase 20% from INR 202 million. The company's consolidated net sales are expected to be INR 18.46 billion, up almost 14% on year and 3% sequentially, according to the estimates.

 

The highest estimate for the company's June quarter net profit is INR 280 million from Nuvama Wealth Management Ltd. and the lowest is INR 178 million from PhillipCapital (India) Pvt. Ltd. The highest estimate for revenue is INR 18.87 billion from Nuvama and the lowest is INR 18.15 billion from PhillipCapital.

 

The turnaround to profitability in the June quarter will be on the back of reduced losses in the business-to-business segment. Additionally, operational efficiency in the contract logistics segment helped in sustaining growth, according to Elara Securities (India) Pvt. Ltd. The company is focusing on improving margins rather than pursuing revenue growth, the brokerage said.

 

Mahindra Logistics is expected to report a healthy performance as parent Mahindra & Mahindra's auto volumes grew over 21% in the June quarter, along with improving traction in the business-to-business express business, Prabhudas Lilladher Pvt. Ltd. said. Mahindra Logistics' growth depends on Mahindra & Mahindra as 56% of supply chain management revenue is contributed by the parent.

 

Logistics activity remained steady in April-May due to industry consolidation and higher outsourcing by e-commerce companies and due to improving demand. Indicators such as goods and services tax collections, e-way bill generation, railway freight traffic, and cargo handled at major ports showed that freight movement remained healthy during the period, Motilal Oswal said.

 

The sector is also expected to see continued growth, supported by government reforms and rising demand from e-commerce and other emerging industries, the brokerage said. Freight rates stayed firm in the quarter but higher fuel and operating costs are likely to keep margins under pressure in the June quarter. Margins are expected to improve in the coming quarters as transporters gradually pass on the higher costs through freight rate hikes, Motilal Oswal said.

 

Mahindra Logistics is expected to report earnings before interest, tax, depreciation, and amortisation of INR 1.1 billion, up 49% from a year ago, according to the average of four estimates. The highest estimate for EBITDA is INR 1.2 billion from Nuvama and the lowest is INR 1.0 billion from Motilal Oswal.

 

The company's EBITDA margin is expected to be in the range of 5.9-6.5%, up from 4.7% a year ago, according to estimates. The increase in margin is supported by a healthy performance in the core third-party segment and narrowing losses in the business-to-business segment, Prabhudas Lilladher said.  

 

Mahindra Logistics Ltd. is an integrated logistics and mobility solutions providers. The company provides supply chain solutions by integrating its third-party logistics, full truck load transportation, warehousing, cross-border logistics, last mile and business-to-business express logistics services. It had acquired the business-to-business express business of Rivigo Services Pvt. Ltd. through its subsidiary MLL Express Services Pvt. Ltd. in November 2022.

 

On Thursday, shares of Mahindra Logistics closed almost unchanged at INR 388.65 on the National Stock Exchange. The shares are down 12.2% since the company announced its March quarter earnings in April.

 

Of the five research reports on the company available with Informist, four have a 'buy' recommendation on the stock at an average target price of INR 444 and one brokerage has a 'hold' recommendation on the stock at a target price of INR 410. The company will report its earnings for June quarter on Jul. 20.

 

Following are the Apr-Jun earnings estimates for Mahindra Logistics Ltd. from four brokerages in descending order of the estimate of net profit in INR million:

 

Brokerage	Net sales	Net profit	EBITDA
Nuvama Wealth Management Ltd.	18,867	280	1,234
Elara Securities (India) Pvt Ltd.	18,330	268	1,165
Motilal Oswal Financial Services Ltd.	18,512	244	1,074
PhillipCapital (India) Pvt Ltd.	18,154	178	1,078
Average	18,465.75	242.50	1,137.75

 

End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Deesha Jadhav

Edited by Avishek Dutta

 

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