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Mahindra Logistics Limited Q2 FY26 earnings call summary

NSE: MAHLOG · BSE: 540768

Earnings call of 28 Oct 2025, summarised by AI from the filing.

Mahindra Logistics Q2 FY26 revenue rose 11% to ₹1,685 cr; Express turned gross margin positive at 0.2%.

Key takeaways

  1. Revenue Q2 FY26 revenue ₹1,685 cr, up 11% YoY, driven by e-commerce and M&M Auto and Farm.
  2. Guidance White space cost to be reduced by about 95% by September 2026.
  3. Express turnaround Express business turned gross margin positive at 0.2% in Q2 FY26, first time since acquisition.
  4. Risk Customer-driven pricing pressure continues in last-mile delivery.

Original filing on BSE

Mahindra Logistics Limited Q1 FY27 results

As filed: Revenue ₹2,003 cr (+23% year on year), EBITDA ₹115 cr (+50% year on year), PAT ₹27.8 cr, EBITDA margin 5.8% (+102 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹1,791 cr (+14% year on year), EBITDA ₹112 cr (+44% year on year), PAT ₹22.4 cr, EBITDA margin 6.3% (+130 bps). Score 66 of 100, Above trend. Revenue growth was in line with the company's own trend; EBITDA growth was well above it. EBITDA margin rose 130 bps year on year. Revenue fell 6% from last quarter. Share price after the results: −20.0% in 29 days (Nifty 500: −0.7%).
  • Q3 FY26: Revenue ₹1,898 cr (+19% year on year), EBITDA ₹103 cr (+39% year on year), PAT ₹6.0 cr, EBITDA margin 5.4% (+77 bps). Score 65 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was above it. EBITDA margin rose 77 bps year on year. Other income 42% of PBT. Tax rate 52%. Share price after the results: +43.1% in 30 days (Nifty 500: +2.8%).
  • Q2 FY26: Revenue ₹1,685 cr (+11% year on year), EBITDA ₹86.0 cr (+30% year on year), PAT −₹8.0 cr, EBITDA margin 5.1% (+76 bps). Score 45 of 100, In line with trend. Revenue growth was in line with the company's own trend; EBITDA growth was above it. EBITDA margin rose 76 bps year on year. Revenue rose ₹164 cr on a year ago, more than the ₹156 cr it added the year before. Share price after the results: −7.8% in 30 days (Nifty 500: +0.5%).
  • Q1 FY26: Revenue ₹1,625 cr (+14% year on year), EBITDA ₹77.0 cr (+18% year on year), PAT −₹9.0 cr, EBITDA margin 4.7% (+16 bps). Score 15 of 100, Below trend. Revenue growth was above the company's own trend; EBITDA growth was in line with it. EBITDA margin rose 16 bps year on year. Share price after the results: −22.0% in 30 days (Nifty 500: −0.6%).
  • Q4 FY25: Revenue ₹1,570 cr (+8% year on year), EBITDA ₹78.0 cr (+39% year on year), PAT −₹5.0 cr, EBITDA margin 5.0% (+111 bps). Score 45 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA growth was well above it. EBITDA margin rose 111 bps year on year. Other income 200% of PBT. Tax rate 700%. Share price after the results: +3.6% in 30 days (Nifty 500: +3.3%).
  • Q3 FY25: Revenue ₹1,594 cr (+14% year on year), EBITDA ₹74.0 cr (+45% year on year), PAT −₹7.0 cr, EBITDA margin 4.6% (+99 bps). Score 45 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA growth was well above it. EBITDA margin rose 99 bps year on year.
  • Q2 FY25: Revenue ₹1,521 cr (+11% year on year), EBITDA ₹66.0 cr (+22% year on year), PAT −₹10.0 cr, EBITDA margin 4.3% (+38 bps). Score 45 of 100, In line with trend. EBITDA margin rose 38 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Mahindra Logistics Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.