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Mahindra Logistics Ltd

| Consolidated Financial Results for Quarter & Year Ended March 31, 2026

Report Source

⬤23rd Apr 26

Summary : Mahindra Logistics reported positive FY26 results with an unmodified audit opinion and recommended dividend, despite auditor's note on going concern uncertainty.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated FY26 Operating Expenses: 6,029.26 Crores
  2. Consolidated FY26 Employee benefits: 427.40 Crores
  3. Consolidated FY26 Finance cost: 75.02 Crores
  4. Consolidated FY26 Depreciation & amortisation: 277.87 Crores
  5. Consolidated FY26 Other expenses: 166.17 Crores
  6. Consolidated FY26 Total expenses: 6,975.72 Crores
  7. Standalone FY26 Operating expenses: 4,863.56 Crores
  8. Standalone FY26 Employee benefits: 325.01 Crores
  9. Standalone FY26 Finance cost: 59.13 Crores
  10. Standalone FY26 Depreciation & amortisation: 242.35 Crores
  11. Standalone FY26 Other expenses: 130.47 Crores
  12. Standalone FY26 Total expenses: 5,620.52 Crores
  13. Consolidated FY26 Revenue from operations: 6,999.30 Crores
  14. Consolidated FY26 Other income: 17.13 Crores
  15. Consolidated FY26 Total Income: 7,016.43 Crores
  16. Standalone FY26 Revenue from operations: 5,671.98 Crores
  17. Standalone FY26 Other income: 11.50 Crores
  18. Standalone FY26 Total Income: 5,683.48 Crores
  19. Consolidated FY26 Net cash from operating activities: 253.61 Crores
  20. Consolidated FY26 Net cash used in investing activities: (316.16) Crores
  21. Consolidated FY26 Net cash from financing activities: 104.58 Crores
  22. Consolidated FY26 Cash & equivalents at year end: 107.12 Crores
  23. Standalone FY26 Net cash from operating activities: 255.90 Crores
  24. Standalone FY26 Net cash used in investing activities: (601.47) Crores
  25. Standalone FY26 Net cash from financing activities: 364.12 Crores
  26. Standalone FY26 Cash & equivalents at year end: 61.91 Crores
  27. Consolidated FY26 Total Assets: 3,108.02 Crores
  28. Consolidated FY26 Total Equity: 1,199.26 Crores
  29. Consolidated FY26 Total Liabilities: 1,908.76 Crores
  30. Standalone FY26 Total Assets: 3,034.45 Crores
  31. Standalone FY26 Total Equity: 1,476.39 Crores
  32. Standalone FY26 Total Liabilities: 1,558.06 Crores
  33. Both consolidated and standalone financial results are presented

Corporate Overview

  1. Subsidiaries: Lords Freight, MLL Express Services, MLL Mobility, 2X2 Logistics, V-Link Freight Services, ZipZap Logistics
  2. Joint Venture: Seino MLL Logistics Private Limited
  3. Supply Chain Management
  4. Enterprise Mobility Services
  5. Supply Chain Management (6,613.03 Crores)
  6. Enterprise Mobility Services (400.17 Crores)

Risk Factors

  1. Auditor noted material uncertainty about going concern.
  2. Net cash used in investing activities.
  3. Consolidated net profit after tax is low.
  4. Increased total expenses for the year.

Key Drivers

  1. Unmodified audit opinion for financial results.
  2. Board recommended dividend of Rs. 2.50 per share.
  3. Positive profit after tax for the financial year.
  4. Growth in total income for the financial year.

Auditor’s Report

  1. Unmodified opinion on consolidated and standalone financial results

Board Commentary

  1. Allotment of 41,712 equity shares under RSU plan
  2. Recommended dividend of Rs. 2.50 per share (25%) for FY26
  3. Material uncertainty regarding going concern for Group and joint venture

Management Discussion & Analysis

Risk Control Measures

  1. Disclosures in financial results address going concern uncertainty

Critical Risks

  1. Material uncertainty regarding going concern for Group and joint venture