Monitoring Agency Report for the quarter ended 31 March 2026
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CARE Ratings Limited has submitted its monitoring agency report for Mahindra Logistics' Rights Issue of ₹749.27 crore completed in July-August 2025. The report confirms that proceeds have been utilized appropriately with no deviations from the stated objects. As of March 31, 2026, ₹663.27 crore (88.5%) has been utilized, with ₹557.93 crore used for repayment/prepayment of borrowings and ₹100.77 crore for general corporate purposes. The unutilized ₹86 crore is parked in Fixed Deposits with Kotak Mahindra Bank. The monitoring agency notes the company reported a consolidated loss of ₹11.79 crore in 9MFY26. All utilization has been verified by Deloitte Haskins & Sells LLP.
This is a routine compliance filing confirming proper use of rights issue funds. The debt prepayment of ₹557.93 crore indicates the company is reducing its borrowings as planned. The reported loss in 9MFY26 may raise concerns among investors about operational profitability.