Q1 2026 Mahindra Logistics Ltd Earnings Call Transcript
Key Points
- Mahindra Logistics Ltd (NSE:MAHLOG) reported a 14% year-on-year increase in revenue for Q1 FY26, reaching INR 1,625 crore.
- The warehousing segment demonstrated strong growth with an 18% increase in revenue year-on-year.
- The company recorded a 135% quarter-on-quarter growth in 3PL wins, reflecting growing customer confidence across sectors.
- The Express business crossed the INR 100 crore mark for the first time, showing solid momentum with a 10% sequential increase in tonnage.
- A rights issue of approximately INR 750 crore is planned to enhance financial flexibility and consolidate the capital structure, with significant interest cost savings expected.
- Despite revenue growth, Mahindra Logistics Ltd (NSE:MAHLOG) reported a loss of INR 10.8 crore for Q1 FY26.
- The gross margin slightly decreased to 9.4% in Q1 FY26 from 9.5% in Q1 FY25.
- The Express business reported a PAT loss of INR 23.9 crore in Q1 FY26.
- The company is facing challenges in improving yield in the Express business, which is critical for profitability.
- There is a significant amount of white space in warehousing (approximately 1.5 million square feet) that the company is actively working to optimize.
(technical difficulty) '26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Mandar Chavan. Thank you, and over to you, sir.
Thank you. Good evening, everyone, and thank you for joining us for Mahindra Logistics Limited Q1 FY26 earnings conference call. We are pleased to have with us today Mr. Hemant Sikka, Managing Director and CEO; Mr. Saurabh Taneja, Chief Financial Officer, along with the members of the senior management team.
At the outset, I would like to extend a warm welcome to Hemant Sikka as he joined us for his maiden earnings call in the capacity of Managing Director and the CEO of Mahindra Logistics (technical difficulty) years of leadership experience across the Mahindra Group.
As the President of Farm Equipment Sector, he steered the business to the highest ever market share and led several transformative initiatives, including the Krish-e platform. His expertise span sourcing,
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