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Mahindra Logistics Reported Highest ever Quarterly Revenue with 15% YoY Growth

In Business
February 12, 2021

MUMBAI:
Mahindra Logistics Ltd. (MLL), one of India’s large 3PL solutions providers, today announced its consolidated financial results for the quarter and nine months ended on December 31, 2020.

Q3 FY21 performance compared with Q3 FY20
 Revenue Rs. 1,047 crore as compared to Rs. 908 crore last year
 EBITDA Rs. 55 crore as compared to Rs. 44 crore last year
 PBT Rs. 25 crore as compared to Rs. 21 crore last year
 PAT Rs. 18 crore as compared to Rs 16 crore last year
 EPS (Diluted) Rs. 2.53 as compared to Rs. 2.17 last year

9M FY21 performance compared with 9M FY20
 Revenue Rs. 2,290 crore as compared to Rs. 2,659 crore last year
 EBITDA Rs. 101 crore as compared to Rs. 131 crore last year
 PBT Rs. 23 crore as compared to Rs. 68 crore last year
 PAT Rs. 16 crore as compared to Rs 45 crore last year
 EPS (Diluted) Rs. 2.42 as compared to Rs. 6.32 last year

Key Highlights
 Strong growth in Supply Chain segment during the quarter at 24% YoY, driven by demand in E-commerce, Consumer, Freight Forwarding and recovery in Automotive vertical.
 Recorded highest ever quarterly revenue, despite the continuing softness in the Enterprise Mobility segment due to Covid related volume reductions.
 Revenue from Warehousing services & solutions grew 24% over the same period last year with continued focus on solutions-led approach to customer’s requirements in supply chain.
 Launched “EDel”: Electric last mile delivery solution. The Company sees strong demand environment with opportunity for continuing fleet deployment.
 Overall focus on returns maintained with stringent control on costs and cash flows across operations.
 Received Gold Award for “Overall Excellence in Logistics” at the CII Scale Award 2020.

Commenting on the performance, Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said, “We continue to see improving performance, driven by market recovery and execution of our strategy of providing customized, integrated solutions to our customers. In Q3, FY20-21 we delivered our highest-ever quarterly revenue, with significant contribution from E-commerce, Automotive and Freight Forwarding businesses. Strong momentum in Supply Chain has offset the continuing softness in the Enterprise Mobility segment, which remains impacted by the Covid-19 pandemic. We continue to expand and grow our service lines. During the quarter, we launched our Last mile delivery service, ‘Edel’ which uses 100% electric powered vehicles. The service has been launched in 6 cites; to be expanded to 14 cities in coming 12 months. The business environment is improving and evolving at the same time. We look forward to stronger revival in economic environment and with it, the improving demand across end-markets will create more opportunities for growth.”