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Mahindra Logistics Q2 FY27 Share Price & Earnings Call Analysis

₹411.95-3.56% today
Market cap
₹4,090 Cr
P/E
103.79
ROE
0.32%
PEG
-1.93
Price to sales
0.55
Debt to equity
0.55
52W high / low
₹443 / ₹280
Sales growth (5Y)
16.48%
EBITDA margin
5.63%
Net profit margin
0.17%
Promoter holding
59.54%
Sales (last year)
₹7,378 Cr

Mahindra Logistics Ltd is an integrated logistics & mobility solutions provider. The company offers Supply Chain expertise to diverse industry verticals such as Automotive, Engineering, Consumer Goods, Pharmaceuticals, Telecommunications, Commodities, and E-commerce. [1]

Guidance scorecard · Q2 FY27 call

What Mahindra Logis.'s management guided
and where it ranks in Transport Services

#7of 31 in
Transport Services
Revenue20–40%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Mahindra Logistics is confidently targeting EBITDA break-even in the Express business within the current financial year, indicating strong growth expectations.
  • Both volume and yield improvements are driving revenue growth in Express and Mobility segments.
  • Contract Logistics shows growth driven by both M&M and non-M&M verticals like e-commerce and telecom.
  • The company expects a 150-200 bps gross margin expansion across the overall business over the medium term.
  • White space reduction strategy aims to lower underutilized warehousing by 95% by September 2026, improving asset utilization.
  • Growth in Mobility business driven by B2B client expansion and launching new services like airport taxi.

2 more points from Mahindra Logis.'s call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 0–2%

See what Mahindra Logis. said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Focus on reducing white space in warehousing by 95% by September 2026, indicating ongoing optimization of warehousing assets.
  • Expansion and scaling of the airport taxi business in Noida and Delhi Airports, with a focus on profitable operations rather than scale for its Mobility business.
  • Emphasis on strengthening Express Logistics network, improving asset utilization, and leveraging technology to drive productivity and customer experience.
  • Overall, the company is prioritizing profitable scaling, operational excellence, and technology-led growth without mentioning explicit capex commitments.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Mahindra Logis. said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • The company is winning new businesses and customers at yields higher than internal targets.
  • They have exceeded aggressive internal plans for new client wins in Q1 FY27.
  • Growth drivers include strong associations with Mahindra & Mahindra (M&M), e-commerce, manufacturing, and telecom verticals.
  • Large marquee clients in manufacturing were recently won, indicating a healthy pipeline.

2 more points from Mahindra Logis.'s call on the order book

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Full Q1 FY27 analysis
Full Transport Services ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Transport Services
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Mahindra Logis. rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Transport Services companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹795 Cr24.9
240%+Flat₹16,984 Cr98.6
340%+Flat₹4,361 Cr29.7
440%+Flat₹591 Cr16.6
520–40%Up 2%+₹510 Cr6.7
620–40%Up 2%+₹234 Cr8.1

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Pro shows every company guiding 40%+ revenue growth →Full Transport Services ranking

Financials of Mahindra Logis.

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Mahindra Logis.

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +58.04%58.04%58.03%58.03%58.03%57.97%57.97%59.60%59.60%59.58%59.58%59.54%
FIIs +5.92%5.77%5.51%4.95%5.02%5.22%4.79%3.86%4.40%4.82%4.09%5.33%
DIIs +15.71%17.37%17.51%18.22%15.92%13.85%13.87%13.65%12.33%13.86%14.44%13.78%
Public +20.31%18.80%18.94%18.81%21.03%22.96%23.38%22.89%23.68%21.74%21.90%21.35%
No. of Shareholders80,20580,68778,70878,16480,20880,31579,05580,92479,13875,95475,21374,601

Financials of Mahindra Logis.

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,3651,3971,4511,4201,5211,5941,5701,6251,6851,8981,7912,0032,095
Expenses +1,3111,3451,3941,3541,4551,5211,4921,5481,6001,7951,6791,8881,972
Operating Profit545257666674787685103112115124
OPM %3.9%3.7%3.9%4.7%4.4%4.6%5.0%4.7%5%5%6%6%6%
Other Income +763626253-24108
Interest17161719192221232217141415
Depreciation52515155545958657272707277
Profit before tax-8-10-9-2-5-11-6-512323940
Tax %89%71%29%214%93%531%671%62%55%52%30%29%28%
Net Profit +-16-17-12-8-10-7-5-9-86222829
EPS in Rs-1.61-1.76-1.30-0.94-1.08-0.91-0.68-1.09-1.040.332.032.562.64

Financials of Mahindra Logis.

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,9312,0642,6673,4163,8513,4713,2644,1415,1285,5066,1056,9997,788
Expenses +1,8742,0122,5903,2963,7003,3133,1293,9564,8685,2755,8206,6207,333
Operating Profit575276120152158135184260231284379454
OPM %3.0%2.5%2.9%3.5%3.9%4.6%4.1%4.5%5%4.2%4.7%5%6%
Other Income +9131067141413162015720
Interest013431820305268817560
Depreciation681520227390142190209226278290
Profit before tax59566810213381392635-26-833124
Tax %35%36%32%36%35%32%26%43%21%97%291%68%
Net Profit +393646658655291525-53-301185
EPS in Rs4.714.404.886.548.725.603.051.782.65-5.53-3.610.237.56
Dividend Payout %0%0%0%17%15%19%60%82%68%-33%-50%1,083%

Financials of Mahindra Logis.

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital60606871717272727272729999
Reserves2052422803484274734964754904203661,0761,106
Borrowings +428342638201269402834739869650721
Other Liabilities +2502624355406696768491,0271,1571,2451,2721,2801,514
Total Liabilities5195918179861,2051,4221,6871,9752,5532,4772,5793,1053,439
Fixed Assets +26506266712313615018308369301,1471,225
CWIP0311315314416462422
Investments11068585081355118100623125219
Other Assets +3834716978701,0501,1731,2681,3431,6201,6191,5811,8081,973
Total Assets5195918179861,2051,4221,6871,9752,5532,4772,5793,1053,439

Financials of Mahindra Logis.

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +27-48-34129585294191119227343254
Cash from Investing Activity +-1651-30-9536-108-140-310-53-155-316
Cash from Financing Activity +1031844-11-76-87-117183-276-148105
Net Cash Flow-35-28-3316-114598-66-8-1024142
Free Cash Flow16-83-57-25612422510057165167118
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit73%-19%24%68%90%74%180%138%74%104%112%93%

Financials of Mahindra Logis.

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days384356564956544346473736
Inventory Days
Days Payable
Cash Conversion Cycle384356564956544346473736
Working Capital Days315181515164-11-17-12-4-5
ROCE %30%19%20%25%28%15%8%6%7%3%6%7%

Guidance history

How Mahindra Logis.'s guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%Up 0–2%Planned——
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →20–40%Up 0–2%Planned——
Q2 FY26 call →10–20%FlatNone plannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

33out of 100

Momentum score · price trend

33 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+13.2%71%
Last 6 months+2.1%58%
Last 3 months+0.6%68%

The price is 41.1% below its all-time high of ₹699.14 (27 Aug 2021). Stocks more than 20% below their peak have their score halved, so 65 became 33.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Mahindra Logis.: 0.4 × 71 + 0.4 × 58 + 0.2 × 68 = 65, halved to 33 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Mahindra Logis.'s management said in earlier quarters

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