Mahindra Logistics Ltd. (MLL), one of India’s integrated logistics & mobility solutions providers, announced its audited consolidated financial results for the quarter and year ended on March 31st, 2024.
Q4 FY24 MLL Standalone compared with Q4 FY23. Revenue Rs.1,183 crores as compared to Rs.1,055 crores. EBITDA Rs.64 crores as compared to Rs.80 crores. PBT Rs.10 crores as compared to Rs. 25 crores. PAT Rs.8 crores as compared to Rs.22 crores. EPS (Diluted) Rs. 1.09 as compared to Rs 3.10.
FY24 MLL Standalone compared with FY23.Revenue Rs.4,530 crores as compared to Rs.4,459 crores. EBITDA Rs.292 crores as compared to Rs.276 crores. PBT Rs.86 crores as compared to Rs. 80 crores. PAT Rs. 62.0 crores as compared to Rs. 64.6 crores. EPS (Diluted) Rs.8.58 as compared to Rs. 8.94
Q4 FY24 (consolidated) performance compared with Q4 FY23.Revenue Rs. 1,451 crores as compared to Rs. 1,273 crores. EBITDA Rs.57 crores as compared to Rs.64 crores. PBT Rs. (9.2) crores as compared to Rs. (4.6) crores. PAT loss Rs. 12.9 crores compared to Rs. 0.8 crores. EPS (Diluted) Rs. (1.78) as compared to Rs. (0.11)
FY24 (consolidated) performance compared with FY23.Revenue Rs.5,506 crores as compared to Rs. 5128 crores. EBITDA Rs. 229 crores as compared to Rs. 260 crores. PBT Rs. (26.4) crores as compared to Rs. 34.5 crores. PAT loss Rs. 54.7 crores compared to profit of Rs. 26.3 crores. EPS (Diluted) Rs. (7.60) as compared to Rs. 3.64.
3PL Supply Chain services growing 14% in Q4FY23 on YOY basis, full year growth of 7% driven by growth in automotive and engineering, consumer.Freight forwarding and Express businesses continue to show improvements in volume on a sequential quarter basis. Express business continued with the positive trend on network and cost optimization.
Strong quarter of order intake in Mobility and across the 3PL supply chain business, driven by growth in FMCG, Engineering and Auto.Warehouse space under management stood at 20 mn sq. ft. in the 3PL business. Current expansions in Chakan, Kolkata, Nasik, and Guwahati are on track.
During the year completed the 2nd tranche of share purchase in Whizzard/Zip Zap Logistics (a last mile delivery company) in Dec'23. MLL now owns 60% stake in the company. The acquisition will complement MLL’s existing last mile delivery business & Edel and will help drive deeper penetration.
Commenting on the performance Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. said,
“The quarter gone by was marked by an increasing volume recovery and growth as we saw positive momentum across our businesses, with strong growth in 3PL and Mobility segments. Our B2B express business has started seeing the benefits of cost optimization, as we continued to improve operating margins & EBITDA. The mobility segment remains on a recovery path. Overall In FY 2023-24, excluding one-time charges, earnings across our core 3PL and other businesses were stable and improving. Completion of the 2nd tranche of investment in Zip Zap Logistics will help us further consolidate and provide an expanded range of services form last mile delivery and micro-fulfilment. We remain focused on driving the value of logistics solutions by integrating services across India, leveraging our technology, process and human capital.”
