Company Update : Mahindra Logistics by Motilal Oswal Financial Services Ltd
Revenue in line; high operating expenses dent profitability
Earnings snapshot: 1QFY26
* Revenue grew by ~14% YoY to INR16.2b (in line).
* EBITDA margin came in at 4.7% (flat YoY and -30bp QoQ) vs. our estimate of 5%. EBITDA grew ~15% YoY to INR763m (8% below estimate).
* Adjusted net loss narrowed to INR108m in 1QFY26 from INR93m in 1QFY25 (our estimate of INR93m profit).
Segmental performance
* Supply Chain management recorded revenue of INR15.4b (+15% YoY) and EBIT loss of ~INR103m. Enterprise Mobility Services (EMS) reported revenue of INR819m (+2% YoY) and EBIT of INR46m.
* On 17th Jul’25, the board approved a rights issue of 27,049,301 fully paid-up equity shares of face value INR10 each at INR277 per share, aggregating up to INR7.5b. The rights entitlement is in the ratio of 3:8 for eligible shareholders as on the record date of 23th Jul’25. The issue will be open from 31st Jul’25 to 14th Aug’25.
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SEBI Registration number is INH000000412
