Mahindra Logistics Limited has informed the Exchange about Transcript. In compliance with Regulation 30(6) read with Schedule III and other applicable provisions of the SEBI Listing Regulations, please find enclosed the transcript of the earnings conference call of the Company for the first quarter ended 30 June 2025, held on Tuesday, 22 July 2025. Detailed disclosure in this regard is attached.
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Mahindra Logistics filed the transcript of its Q1 FY26 earnings call held on July 22, 2025, which was the maiden call for new MD & CEO Hemant Sikka. Consolidated revenue grew 14% YoY to ₹1,625 crore, with EBITDA at ₹76.3 crore versus ₹66.3 crore last year, though the company reported a net loss of ₹10.8 crore. The Express business crossed ₹100 crore in quarterly revenue for the first time but posted a ₹23.9 crore loss, with management emphasising that yield (price per kg) matters more than volume. The company announced a ₹750 crore rights issue, with ~₹560 crore earmarked for repaying borrowings (making MLL effectively debt-free) and yielding annual interest savings of ₹40–45 crore. Management also highlighted 135% QoQ growth in 3PL wins, new warehouse contracts with Mahindra & Mahindra (300,000 sq ft in Nashik, 100,000 sq ft in Haridwar, 80,000 sq ft in Pune), and renewed focus on reducing 1.5 million sq ft of vacant warehousing (white space).
For shareholders: the rights issue at ₹277 per share (vs market ~₹410) will dilute equity but materially strengthen the balance sheet and reduce finance costs. Near-term profitability remains pressured by Express business losses and weak auto volumes, though interest savings and white space monetisation should support margins from H2 FY26 onwards. Stock may see short-term pressure due to dilution but longer-term debt-free status and operational focus are positives.