Transportation & Logistics company Mahindra Logistics announced H1FY25 & Q2FY25 results Q2FY25 Standalone Financial Highlights: Revenue Rs1,236 crore as compared to Rs 1,136 crore. EBITDA Rs 69 crore as compared to Rs 74 crore. PBT Rs 11.6 crore as compared to Rs 25.6 crore. PAT Rs 8.5 crore as compared to Rs 18.6 crore. EPS (Diluted) Rs 1.18 as compared to Rs 2.58. H1FY25 Standalone Financial Highlights: Revenue Rs 2,393 crore as compared to Rs 2,187 crore. EBITDA Rs141 crore as compared to Rs 157 crore. PBT Rs 25.3 crore as compared to Rs 56.7 crore PAT Rs 18.8 crore as compared to Rs 41.6 crore. EPS (Diluted) Rs 2.60 as compared to Rs 5.76. Q2FY25 Consolidated Financial Highlights: Revenue Rs 1,521 crore as compared to Rs 1,365 crore. EBITDA Rs 66 crore as compared to Rs 54 crore. PBT Rs (5.0) crore as compared to Rs (8.2) crore. PAT loss Rs 10.7 crore compared to Rs 15.9 crore. EPS (Diluted) Rs (1.50) as compared to Rs (2.21). H1FY25 Consolidated Financial Highlights: Revenue Rs 2,941 crore as compared to Rs 2,658 crore. EBITDA Rs133 crore as compared to Rs 120 crore. PBT Rs (7.5) crore as compared to Rs (7.6) crore. PAT Rs (20.1) crore as compared to Rs (24.5) crore. EPS (Diluted) Rs (2.79) as compared to Rs (3.40). Key Highlights: Overall Revenues during Q2FY25 demonstrated a strong growth of 11.5% on YOY across businesses. Continued the focus on expanding capacity and making investments in the Eastern and North Eastern region, focussing on warehouses, delivery stations and express logistics. We expect these investments to be accretive to our growth across businesses in the later part of the year. The revenues for Freight forwarding the business grew by 65% on YoY basis on the back of improved pricing in Ocean freight. The ongoing geopolitical conflicts continue to impact the cross-border market and remain a key monitorable. The losses for the Express business were reduced by 32% on YoY basis, driven by continuous cost optimization. The EBITDA losses were also reduced by 10% on QoQ basis. Growth in volumes continues to be a key priority for the business as it progresses towards an EBITDA breakeven. 3PL business proactively geared up and built capacity to meet the increased demand during the festive peak in Q3FY25. Warehouse space under management in the 3PL business stood at over 21.6 million. Square feet. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics said: “During the quarter, we saw strong revenue performance with year-on-year growth of 11.5%.Our 3PL contract logistics, cross border and last mile delivery segments registered strong growth driven by account additions, new offerings and a stable cross border pricing environment. During the quarter, we expanded our offerings for transportation & green logistics. We continue to expand the overall network, with new infrastructure expansions in the east to support warehousing, last mile and express segments, which should help drive future growth. With the upcoming peak in Q3, we have expanded capacity and resources in contract logistics and last mile delivery, having a seasonal impact on operating earnings in the quarter. A soft demand environment and operating conditions impacted the express business. We believe H2 will be stronger driven by the festive peak and impact of margin improvement programs across all the businesses.” Result PDF
Conference Call with Mahindra Logistics Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Transportation & Logistics company Mahindra Logistics announced Q1FY25 results: Consolidated: Revenue Rs 1,420 crore as compared to Rs 1,293 crore in Q1FY24. EBITDA Rs 66 crore as compared to Rs 67 crore in Q1FY24. PBT Rs (2.5) crore as compared to Rs 0.6 crore in Q1FY24. PAT loss Rs 9.3 crore compared to Rs 8.6 crore in Q1FY24. EPS (Diluted) Rs (1.29) as compared to Rs (1.19) in Q1FY24. Standalone: Revenue Rs 1,157 crore as compared to Rs 1,051 crore in Q1FY24. EBITDA Rs 72 crore as compared to Rs 83 crore in Q1FY24. PBT Rs 13.7 crore as compared to Rs 31.1 crore in Q1FY24. PAT Rs 10.2 crore as compared to Rs 23.0 crore in Q1FY24. EPS (Diluted) Rs 1.42 as compared to Rs 3.18 in Q1FY24. Business Highlights: Moderate demand environment, Contract Logistics experienced a 9% YoY revenue growth in Q1FY25. Freight forwarding business saw a 12% QoQ increase, driven by a growth in demand for inbound ocean cargo The Express business saw an improvement of 2% YoY in revenue and a 16% YoY reduction in PAT losses driven by continuous cost optimization Mobility and Last Mile Delivery continued their improvement journey. Warehouse space under management in the 3PL business stood at over 20 million+ square feet. The company launched its state-of-the-art BTS warehouse at Guwahati during the quarter. MLL announced a joint venture with Seino Holdings Ltd. during the Quarter aiming to offer integrated logistics solutions to Japanese auto and auto-ancillary customeRs This partnership will leverage Seino’s global relationships with Japanese automotive customers to meet their logistics needs in India. Commenting on the performance, Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics said, Despite the muted demand environment, the quarter gone by saw healthy order booking in 3PL and cross border business. The cross-border business saw good traction, driven by a growth in demand for inbound ocean cargo. The Mobility, Last Mile Delivery and auto outbound logistics business 2x2, continued their improvement journey and delivered a healthy performance. Earnings were impacted due to extended start-up costs, coupled with higher manpower and Warehousing lease costs. The Express business was impacted by lower volumes, which was offset by our cost optimization initiatives. We expect to see strong improvement in the overall operating performance in later part of the year. Result PDF