In This Article:
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Revenue: INR 1,594.2 crores, a 14.1% increase year-on-year for Q3.
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Warehousing Revenue: INR 299.6 crores in Q3 FY25, up 15% year-on-year.
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Gross Margin: 9.2% on a consolidated basis, up 10 basis points year-on-year.
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EBITDA: INR 73.7 crores, up from INR 52.3 crores in Q3 FY24.
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Overall Losses: INR 9 crores at a consolidated level for Q3 FY25.
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3PL Contract Logistics Orders: New orders worth INR 100 crores in annual contract value.
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Express Business Revenue: INR 89.1 crores, down from INR 95.6 crores year-on-year.
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Express Business PAT Losses: Reduced to INR 24.8 crores in Q3 FY25.
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Mobility Business Revenue: INR 78.1 crores, down from INR 83.9 crores year-on-year.
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Whizzard Revenue: INR 42.2 crores, up from INR 3.2 crores year-on-year.
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2x2 Logistics Revenue: INR 25.3 crores, up from INR 14 crores year-on-year.
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2x2 Logistics PAT: INR 2.1 crores, up from INR 40 lakhs year-on-year.
Release Date: January 28, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Mahindra Logistics Ltd (NSE:MAHLOG) reported a 14.1% year-on-year increase in revenue for Q3, reaching INR 1,594.2 crores.
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The warehousing segment saw a 15% year-on-year growth, contributing approximately INR 300 crores to the revenue.
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The company secured new orders worth INR 100 crores in the 3PL business and has a pending order board of over INR 250 crores.
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The mobility business won a key contract for the new Noida International Airport, indicating future growth potential.
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Mahindra Logistics Ltd (NSE:MAHLOG) launched a new analytics platform for emissions measurement, enhancing its service offerings and sustainability focus.
Negative Points
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The logistics sector faced challenges due to high costs driven by driver shortages, elevated fuel prices, and higher toll charges.
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The Express business experienced flat volumes sequentially, with operational challenges during the festive peak affecting service levels.
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The company reported a loss of INR 9 crores at a consolidated level for Q3, indicating financial pressure.
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The freight forwarding business was impacted by lower pricing in Q3, affecting revenue per TEU.
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The Express business continues to face a tough market environment, with competitive pricing and operational issues impacting growth.
Q & A Highlights
Q: Can you clarify the nature of the INR250 crores order book and the INR100 crores worth of new contracts in the 3PL business? Are these annual or lifetime values? A: These are annual contract volumes, representing a 12-month run rate for those contracts. - Rampraveen Swaminathan, CEO