Mahindra Logistics

April 23 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS Q4 CONSOL NET PROFIT 201.9 MILLION RUPEES

• MAHINDRA LOGISTICS Q4 CONSOL REVENUE FROM OPERATIONS 17.91 BILLION RUPEES

Source text: ID:nBSEbPm5td

Further company coverage: MALO.NS

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Updates

** Shares of India's Mahindra Logistics MALO.NS extend gains to a record high of 338.20 rupees, last up ~14.5%, in its biggest intraday percentage rise

** Co swung to a quarterly profit for the first time since 2022 on rising shipping demand

** Motilal Oswal ("buy", PT at 330 rupees) says co's revenue grew around 19% y/y to 18.98 bln rupees, 9% above the brokerage's estimate

** Q3 consol net profit came to 32.5 mln rupees vs loss of 90.3 mln rupees last year, marking co's first quarterly profit since Q3 FY 2023

** Trading vols at 6.11 mln shares, about 85x the 30-day-avg of 72,103 shares

** Stock rated "hold" on avg by 8 analysts, median PT at 339 rupees- LSEG data

** MALO lost 8.7% in 2025, stock down ~6.7% so far in Jan

(Reporting by Surbhi Misra in Bengaluru)

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Jan 27 (Reuters) - India's Mahindra Logistics MALO.NS swung to a quarterly profit for the first time since 2022, it reported on Tuesday, as demand for shipping increased during the festive season and its supply chain management segment turned a profit.

The Mumbai-based company's consolidated net profit came at 32.5 million rupees ($354,551.90) during the quarter ended December 31, from a loss of 90.3 million rupees ($985,108.82) a year ago.

This is the company's first quarterly profit since the third quarter of fiscal year 2023. Its supply chain management is its biggest segment, contributing 94.4% to the topline.

Revenue rose more than 19% to 18.98 billion rupees.

For further earnings highlights, [click here].

KEY CONTEXT

The Mahindra Group unit has been facing rising costs and tougher competition from domestic as well as international firms in India’s $342 billion logistics market, along with losses linked to its 2022 acquisition of express‑cargo firm Rivigo.

However, in a pre-earnings note, Elara Capital analysts said the firm would receive support in the third quarter from the addition of new warehouses and its core third‑party logistics business.

They also expected B2B express volumes to improve and losses to narrow, helped by possible price hikes and better operating efficiency.

Although December does not fall within India’s main festive season, which started in mid‑September, year‑end holidays and discount events still provide logistics firms with a modest boost in demand.

Mahindra Logistics, Delhivery and Blue Dart are also facing growing pressure from Amazon AMZN.O and Walmart WMT.O ‑owned Flipkart, which are steadily expanding their in‑house logistics operations.

PEER COMPARISON

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 91.6650 Indian rupees

(Reporting by Yagnoseni Das and Abhirami G in Bengaluru; Editing by Harikrishnan Nair)

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Dec 31 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• RECEIVES TAX DEMAND AND PENALTY OF 224 MILLION RUPEES EACH

Source text: ID:nNSEb9Dvc7

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Dec 30 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• RECEIVES TAX PENALTY OF 109.5 MILLION RUPEES

Source text: ID:nBSE1KPLmD

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July 21 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS Q1 CONSOL NET LOSS 108 MILLION RUPEES

• MAHINDRA LOGISTICS Q1 CONSOL REVENUE FROM OPERATIONS 16.25 BILLION RUPEES

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July 11 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS LTD - TO RAISE UP TO 7.50 BILLION RUPEES VIA RIGHTS ISSUE

• MAHINDRA LOGISTICS LTD - FUND RAISING FOR REPAYMENT OF BORROWINGS, CORPORATE PURPOSES

Source text: ID:nBSE7mXp1X

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** Shares of Mahindra Logistics MALO.NS up 2.7% at 377 rupees, set to rise for a fifth straight session

** Logistics firm to consider fund raise by issuing shares or other securities on July 11

** More than 317,000 shares traded, ~3x its 30-day moving average

** Shares traded most since April 22

** Avg rating of nine analysts covering the stock is "hold" and median PT is 312.5 rupees, ~17% lower than current price - data compiled by LSEG

** MALO has risen 35.5% over the last four months but is flat on YTD basis

(Reporting by Anuran Sadhu in Bengaluru)

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July 8 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• TO CONSIDER FUND RAISING ON JULY 11

Source text: ID:nBSE1Vq2FF

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** Shares of India's Mahindra Logistics MALO.NS jump 4.3% to 321 rupees

** Logistics firm's Q4 losses narrows y/y, rev rises 8%

** Brokerage ICICI Securities says improvement visible, upgrades stock to "add" from "hold"

** MALO, on an avg, rated "hold" with median PT 335 rupees - LSEG data

** Day's jump trims YTD decline to ~16%

(Reporting by Hritam Mukherjee in Bengaluru)

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April 21 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• RAMPRAVEEN SWAMINATHAN RESIGNS AS MANAGING DIRECTOR AND CEO

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March 5 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS LTD - APPROVES INVESTMENT IN SUBSIDIARY MESPL UP TO 350 MILLION RUPEES

• MAHINDRA LOGISTICS - INVESTMENT VIA SUBSCRIPTION TO RIGHTS ISSUE OF MLL EXPRESS SERVICES SHARES

Source text: ID:nBSE9fJ7jD

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Feb 6 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS LTD - PARTNERS WITH ASIAN PAINTS FOR TRANSPORTATION SOLUTIONS

Source text: ID:nNSE1GJ75b

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Jan 27 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS Q3 CONSOL NET LOSS AFTER TAX 90.3 MILLION RUPEES

• MAHINDRA LOGISTICS Q3 CONSOL REVENUE FROM OPERATIONS 15.94 BILLION RUPEES; IBES EST. 15.59 BILLION RUPEES

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** Shares of Mahindra Logistics MALO.NS decline 4.5% to 469.55 rupees

** Logistics arm of Mahindra Group reported a widened Q2 loss as freight and warehousing costs surged

** Stock also down amid losses in broader markets, with Nifty 50 .NSEI down 0.6% .BO

** Analysts' avg rating on stock is "Sell", while peers Delhivery DELH.NS and VRL Logistics VRLL.NS are rated "Buy" - LSEG data

** Median PT on MALO is 480 rupees, a 2.3% discount on last close

** MALO has risen ~21% YTD, while DELH and VRLL are down ~4% and ~28%, respectively

(Reporting by Manvi Pant in Bengaluru)

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Oct 21 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS Q2 CONSOL NET LOSS AFTER TAX 107.5 MILLION RUPEES

• MAHINDRA LOGISTICS Q2 CONSOL REVENUE FROM OPERATIONS 15.21 BILLION RUPEES

Source text for Eikon: ID:nnAZN2GV48E

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** Shares of logistics services provider Blue Dart BLDT.NS rise 3.8% to 8,522 rupees in early trading

** Co on Monday said it will increase prices for its services starting Jan. 1, 2025

** Avg price increase in range of 9%-12%, depending on product variabilities, it said

** Analysts, on avg, rate BLDT close to equivalent of 'hold' vs a 'sell' on Mahindra Logistics MALO.NS and 'buy' on Delhivery DELH.NS - LSEG data

** Median PT on BLDT is 7,900 rupees

** BLDT up 15% so far this year, vs 29% and 10% rise in MALO and DELH, respectively

(Reporting by Ashna Teresa Britto in Bengaluru)

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July 22 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• Q1 CONSOL NET LOSS AFTER TAX 93.2 MILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 14.2 BILLION RUPEES

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April 22 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS Q4 CONSOL NET LOSS AFTER TAX 128.5 MILLION RUPEES

• MAHINDRA LOGISTICS Q4 CONSOL REVENUE FROM OPERATIONS 14.51 BILLION RUPEES

• MAHINDRA LOGISTICS YEAR AGO Q4 CONSOL NET LOSS 8.2 MILLION RUPEES, REVENUE 12.73 BILLION RUPEES

Source text for Eikon: [ID:]

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Feb 29 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• EXPANDS ITS FULFILMENT OPERATIONS IN WEST BENGAL

• INTRODUCES THIRD FULFILMENT CENTRE IN MALDA

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Feb 2 (Reuters) - Indian logistics firm Delhivery DELH.NS posted its first-ever quarterly profit since listing on Friday, helped by healthy demand for online shopping during the festive season.

Consolidated profit for the three months ended Dec. 31 was 117.1 million rupees ($1.41 million) compared with a loss of 1.96 billion rupees a year earlier, the company said in an exchange filing.

"We are satisfied that network quality remained robust even through the peak season," said Sahil Barua, MD & CEO of the Gurugram-based company.

Analysts had said the company, which delivers orders for Amazon AMZN.O and Walmart WMT.N-owned Flipkart, would achieve profit after tax break-even by the second half of fiscal year 2025.

Revenue from the company's express parcel services, which contributes more than half to the total, climbed 21% year-on-year.

The company, which also operates the Part Truckload and Truckload businesses, saw its total income rise 21% to 23.25 billion rupees.

Total expenses were up 7.7%, with freight, handling and servicing costs jumping 11.5%.

Rival Blue Dart Express BLDT.NS reported a marginal rise in quarterly profit last week, driven by a recovery in demand during the festive season.

Delhivery also approved a scheme of amalgamation for the merger of its units Spoton Logistics and Spoton Supply Chain Solutions into and with the company.

Shares of Delhivery closed 0.9% up ahead of the results.

($1 = 82.8870 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru;Editing by Sohini Goswami)

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** Shares of Mahindra Logistics MALO.NS drop 7.2% to 406.25 rupees, set for worst day since Feb 2022

** MALO reports fourth straight quarterly loss, as a 6% climb in total expenses outpaced a 5% rise in revenue

** Analysts' avg rating on stock is 'hold', median price target is 390 rupees - LSEG data

** Stock on track to snap three-sessions winning run, during which it climbed 5%

** Still, MALO is up just under 6% YTD, after a near 23% decline in 2023

(Reporting by Rama Venkat in Bengaluru)

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Jan 29 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• Q3 CONSOL LOSS AFTER TAX 174.1 MILLION RUPEES

• Q3 CONSOL REVENUE FROM OPERATIONS 13.97 BILLION RUPEES

• YEAR AGO Q3 NET PAT 13.9 MILLION RUPEES, REVENUE 13.3 BILLION RUPEES

Source text for Eikon: [ID:]

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Jan 26 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• EXPANSION OF ITS MULTI-CLIENT WAREHOUSING CAPACITY IN MAHARASHTRA

• CO, ALONG WITH PARTNERS, PLANS TO INVEST 1 BILLION RUPEES FOR ESTABLISHMENT OF NEW FACILITIES

• NEW FACILITY SCHEDULED TO BECOME OPERATIONAL BY END OF Q3 2024

Source text for Eikon: ID:nBSE3zc1xv

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Dec 19 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• RECEIVES ORDERS FROM OFFICE OF THE DEPUTY COMMISSIONER – 1 ST (ASSESSMENT), STATE TAX, UTTARAKHAND

• IMPOSED PENALTY OF 721,092 RUPEES WITH RESPECT TO GST ASSESSMENT FOR PERIOD FROM JULY 2017 TO MARCH 2018

• IMPOSED PENALTY OF 467,330 RUPEES WITH RESPECT TO GST ASSESSMENT FOR PERIOD FROM APRIL 2018 TO MARCH 2019

Source text for Eikon: ID:nBSE99QbS7

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** Festive season could boost earnings for most of the Indian logistics companies in Q3 after a mixed Q2, ICICI Securities said in a note

** Says weakness in export-import (EXIM) volume and EXIM imbalance remain key concerns, though the demand scenario is improving for companies

** We are now more positive on the industry as margins have seemingly troughed for most of the companies - ICICI Securities

** Believes worst is over for Container Corp CCRI.NS and Blue Dart Express BLDT.NS in terms of margins

** Says VRL Logistics VRLL.NS and TCI Express TCIE.NS have cheaper valuations and better prospects

** BLDT, CCRI down 1% and 0.7%, respectively; VRLL dips 0.4%, TCIE mostly flat

(Reporting by Sethuraman NR in Bengaluru)

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Nov 3 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• GOT ORDER IMPOSING PENALTY UNDER GST LAWS IN CONTENTION THAT EXCESS/ INCORRECT INPUT TAX CREDIT WAS CLAIMED BY CO

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** Shares of Mahindra Logistics MALO.NS down 4% at 353.10 rupees

** Logistics arm of Mahindra Group posts third straight quarterly loss after tax

** Q2 consol loss at 159.3 mln rupees ($1.92 mln) vs profit of 121.9 mln rupees a year ago

** Weak operating performance has lead to overall miss -Motilal Oswal

** More than 300,000 shares change hands by 9:51 a.m. IST 1.1x 30-day avg of 268,000 shares

** Five of 10 analysts covering stock have "buy" or "strong buy" rating, two have "hold" while three rate it "sell" or "strong sell"; median PT is 412.5 rupees - LSEG data

** Stock extends YTD losses to ~30%

($1 = 83.0360 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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BENGALURU, Oct 23 (Reuters) - Indian freight carrier Mahindra Logistics MALO.NS on Monday reported a loss for a third straight quarter, hurt by mounting expenses and muted demand.

The logistics arm of the tech-to-tractors conglomerate Mahindra group posted a consolidated loss after tax of 159.3 million rupees ($1.92 million) for the July-September quarter compared with a profit of 121.9 million rupees a year earlier.

A decline in freight rates and increased competition have hurt Mahindra Logistics' profitability in recent quarters.

The company, which competes with firms such as Delhivery DELH.NS, reported a marginal 2.9% on-year rise in revenue from operations to 13.65 billion rupees, which was offset by a 5.1% jump in its total expenses to 13.80 billion rupees.

The company's mainstay segment of supply chain management incurred a loss of 90.9 million rupees compared with a profit of 765.7 million rupees in the year ago quarter.

Shares of Mahindra Logistics closed down 3.2% at 369 rupees ahead of the results. They had gained 1.3% in the September quarter.

($1 = 83.1303 Indian rupees)

(Reporting by Manvi Pant and Ashna Teresa Britto in Bengaluru; Editing by Mrigank Dhaniwala)

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Sept 1 (Reuters) - Mahindra Logistics Ltd MALO.NS:

• MAHINDRA LOGISTICS AND FLIPKART COLLABORATE FOR INTEGRATED LINE HAUL SOLUTIONS

Source text for Eikon: [ID:]

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