Mahindra Logistic Limited
NSE: MAHLOG · Logistics Solution Provider · sector
₹390.15NSE close 2026-10-26
Key numbers
Market cap₹3,871 cr
Price₹390.15
52w high / low₹450 / ₹275
P/E104.6xSector median 13.7x
P/B3.3xSector median 1.4x
Book value₹118.4
Dividend yield0.46%Sector median 0.60%
ROE4.8%Sector median 9.1%
ROCE11.9%Sector median 11.4%
OPM5.5%Sector median 7.0%
Debt / equity0.04xSector median 0.24x
EV/EBITDA8.8xSector median 8.9x
Interest cover2.2x
Current ratio1.16x
Sales growth 3y+10.9%Sector median +7.7%
Profit growth 3y-55.7%Sector median -9.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 51 companies in Logistics Solution Provider (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹323 cr vs borrowings ₹44 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 2.2x in the last 12 months.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 5 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 57% of net profit in the last 12 months.
- Debtor days went from 47 (FY24) to 36 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹390.15 on 2026-10-26: -13.3% from the 52-week high, +41.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹506.10 · low ₹245.01
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,521 | 1,594 | 1,570 | 1,625 | 1,685 | 1,898 | 1,791 | 2,003 |
| EBITDA | 66 | 74 | 78 | 76 | 85 | 95 | 112 | 115 |
| OPM % | 4.4% | 4.6% | 5.0% | 4.7% | 5.0% | 5.0% | 6.3% | 5.8% |
| Other income | 2 | 6 | 2 | 5 | 3 | 5 | 4 | 10 |
| Net profit | -11 | -9 | -7 | -11 | -10 | 3 | 20 | 25 |
| EPS (₹) | -1.50 | -1.25 | -0.93 | -1.50 | -1.20 | 0.33 | 2.04 | 2.56 |
| Revenue YoY | +10.8% | +19.1% | +14.1% | +23.3% | ||||
| Profit YoY | – | – | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 4,083 | 5,128 | 5,506 | 6,105 | 6,999 | 7,378 |
| EBITDA | 198 | 260 | 233 | 284 | 369 | 408 |
| Net profit | 37 | 26 | -55 | -36 | 2 | 38 |
| EPS (₹) | 5.16 | 3.65 | -7.60 | -4.97 | 0.25 | 3.73 |
| Revenue growth | +25.6% | +7.4% | +10.9% | +14.7% | +16.9% | |
| Profit growth | -29.1% | -308.3% | – | – | – | |
| Dividend / share (₹) | 2.50 | 2.00 | 2.50 | 2.50 | 2.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.9% | +16.5% | +16.9% |
| Net profit | -55.7% | -40.2% | – |
| EPS | -59.1% | -43.1% | – |
| Share price | – | -11.0% (2y) | +6.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 562 | 492 | 438 | 1,175 |
| Borrowings | – | 401 | 339 | 424 | 44 |
| Cash & equivalents | – | 193 | 77 | 97 | 323 |
| Total assets | – | 2,553 | 2,477 | 2,580 | 3,108 |
| Fixed assets | – | 584 | 552 | 662 | 889 |
| Capital work in progress | – | 3 | 16 | 46 | 24 |
| Investments | – | 33 | 0 | 0 | 0 |
| Receivables | – | 652 | 702 | 625 | 690 |
| Inventory | – | 0 | 0 | 0 | 0 |
| Payables | – | 1,048 | 1,111 | 1,100 | 1,119 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 200 | 119 | 227 | 343 | 254 |
| Cash from investing | -150 | -310 | -53 | -155 | -316 |
| Cash from financing | -116 | 183 | -276 | -148 | 105 |
| Capex | 106 | 71 | 71 | 181 | 139 |
| Free cash flow | 94 | 48 | 156 | 162 | 115 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 4.7% | -11.1% | -8.2% | 0.2% |
| ROCE % | – | 8.9% | 5.0% | 8.5% | 8.9% |
| Debtor days | – | 46 | 47 | 37 | 36 |
| Inventory days | – | 21 | 0 | 0 | 0 |
| Payable days | – | 54,415 | 9,89,230 | 66 | 58 |
| Cash conversion cycle (days) | – | -54,348 | -9,89,183 | -29 | -22 |
| Working capital days | – | 7 | 0 | 2 | 11 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 59.54% |
| FIIs | 5.33% |
| DIIs | 13.79% |
| of which Mutual funds | 10.92% |
| of which Insurance | 1.52% |
| Public (non-institutions) | 21.34% |
| Quarter | Mar 2025 | Jun 2025 | Aug 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 57.97% | 57.97% | 59.60% | 59.60% | 59.60% | 59.58% | 59.58% | 59.54% |
| Promoter group | % |
|---|---|
| Mahindra & Mahindra Limited | 59.54% |
| Mahindra Steel Service Centre Limited | 0.00% |
| Mahindra First Choice Wheels Limited | 0.00% |
| Gromax Agri Equipment Limited (Formerly known as Mahindra Gujarat Tractor Limited) | 0.00% |
| Mahindra Agri Solutions Limited (Formerly known as Mahindra Shubhlabh Services Limited) | 0.00% |
| Mahindra Accelo Limited (Formerly known as Mahindra Intertrade Limited) | 0.00% |
| Mahindra Holidays & Resorts India Limited | 0.00% |
| Mahindra Hotels and Residences India Limited | 0.00% |
| Mahindra Holdings Limited | 0.00% |
| NBS International Limited | 0.00% |
| Mahindra & Mahindra Financial Services Limited | 0.00% |
| Mahindra Insurance Brokers Limited | 0.00% |
| Mahindra Rural Housing Finance Limited | 0.00% |
| Bristlecone India Private Limited (formerly known as Bristlecone India Limited) | 0.00% |
| Mahindra Lifespace Developers Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund | 4.50% |
| Kotak Infrastructure & Economic Reform Fund | 1.68% |
| Steinberg India Emerging Opportunities Fund Limited | 1.61% |
| Mahindra Manulife Small Cap Fund | 1.55% |
| Uti-Transportation And Logistics Fund | 1.55% |
74,601 shareholders. Pledged: – of promoter shares.
Peers in Logistics Solution Provider
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| CONCOR | ₹31,348 cr | 25.1x | 2.4x | 9.8% | 13.2% | 21.6% | +3.6% | 2.22% |
| DELHIVERY | ₹28,082 cr | 300.0x | 2.9x | 1.0% | 2.2% | 5.5% | +13.3% | – |
| SHADOWFAX | ₹16,722 cr | 128.7x | 9.6x | 6.4% | 7.5% | 5.0% | – | – |
| BLUEDART | ₹10,124 cr | 35.3x | 5.7x | 17.2% | 23.6% | 15.3% | +5.9% | 0.59% |
| TCI | ₹6,508 cr | 14.2x | 2.5x | 19.4% | 15.8% | 10.6% | +9.1% | 1.08% |
| TVSSCS | ₹4,879 cr | 75.7x | 2.4x | 3.4% | 8.3% | 7.0% | – | – |
| VRLLOG | ₹4,687 cr | 17.6x | 4.1x | 24.0% | 28.1% | 20.4% | +6.7% | 3.73% |
| MAHLOG | ₹3,871 cr | 104.6x | 3.3x | 4.8% | 11.9% | 5.5% | +10.9% | 0.46% |
| AFCOM | ₹3,781 cr | 18.9x | 8.3x | 54.4% | 45.9% | 35.1% | – | – |
| GATEWAY | ₹2,323 cr | 9.5x | 1.0x | 10.9% | 13.2% | 21.6% | +15.9% | 7.17% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Supply Chain Management | ₹6,613 cr | 94.3% | ₹24 cr | 0.4% |
| Enterprise Mobility Services | ₹400 cr | 5.7% | ₹10 cr | 2.5% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-10 | Dividend | Dividend - Rs 2.50 Per Share |
| 2025-07-23 | Rights | Rights 3:8 @ Premium Rs 267/- |
| 2025-07-11 | Dividend | Dividend - Rs 2.50 Per Share |
| 2024-07-12 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2023-07-14 | Dividend | Dividend - Rs 2.50 Per Share |
| 2022-07-21 | Dividend | Dividend - Rs 2 Per Sh |
| 2021-07-19 | Dividend | Dividend - Rs 2.50 Per Share |
| 2020-07-23 | Dividend | Dividend - Rs 1.50 Per Share |
| 2019-07-23 | Dividend | Dividend - Rs 1.8 Per Share |
| 2018-07-25 | Dividend | Dividend- Rs 1.50 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Transportation by road: Freight transport services
- Warehousing services: Supporting transport service
| Sector | Services |
| Industry | Logistics Solution Provider |
| Sub-industry | Logistics Solution Provider |
| Symbol | MAHLOG |
| BSE code | 540768 |
| ISIN | INE766P01016 |
| Face value | ₹10.0 |
| Incorporated | 2007-08-24 |
| Website | www.mahindralogistics.com |
| Plants (India / abroad) | 15 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.