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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Mahindra Logistics
Mahindra Logistics (MAHLOG) investor relations material
Mahindra Logistics Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 26/27 earnings summary23 Oct, 2026
Executive summary
Q2 FY27 consolidated revenue from operations was ₹2,095.43 crore; net profit was ₹28.87 crore versus a net loss of ₹8.36 crore in Q2 FY26.
Priorities include profitable growth, execution, operational excellence and capital efficiency; H1 FY27 ROCE rose to 12.9% from 1.7%, and MESPL achieved EBITDA positivity in Q2 and H1.
Financial highlights
Q2 revenue rose 24.3% YoY to ₹2,095.43 crore; H1 revenue increased 23.8% to ₹4,098.31 crore.
Q2 reported EBITDA excluding other income was ₹124.0 crore, up 46% YoY; H1 EBITDA was ₹239.4 crore, up 48%.
Q2 PAT after JV and NCI was ₹26.2 crore versus a ₹10.4 crore loss YoY; H1 PAT was ₹51.6 crore versus a ₹21.2 crore loss.
Adjusted Q2 EBITDA was ₹60.5 crore, or 2.9% of revenue, versus ₹29.9 crore and 1.8% in Q2 FY26; H1 adjusted EBITDA was ₹117.4 crore.
H1 operating cash flow was ₹233.30 crore versus an outflow of ₹35.6 crore in the prior-year period; free cash flow was ₹52 crore versus negative ₹210 crore.
Outlook and guidance
Priorities include scaling Contract Logistics, improving Express profitability, operational excellence and technology-led differentiation, with focus on lane utilization, customer satisfaction and transport costs.
Management targets 100 bps gross-margin improvement from the prior-year exit level over the medium term; no specific timeline was given, and progress may vary by quarter.
FY27 CapEx is expected near INR 110 crore, mainly for Contract Logistics and the 2x2 joint venture; approvals are tied to return metrics and project reviews.
MESPL’s next milestone is PAT positivity; management expects continued investment in technology, network reach, hubs and capacity as it pursues multi-year growth.
Freight Forwarding is rebuilding in H2, with principal results expected in FY28; Last Mile Delivery is shifting from no-loss operations toward profitable growth.
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Latest events from Mahindra Logistics
- Revenue and PAT grew strongly as diversification and technology remained strategic priorities.MAHLOG
Q4 18/19 - FY18 revenue grew 28.11% as SCM expansion lifted consolidated PAT 41.58%.MAHLOGQ4 17/18
- Revenue rose 25% and EBITDA 38%, with mobility recovery and cost volatility still in play.MAHLOGQ4 21/22
- Revenue and PAT fell amid auto weakness and COVID-19; growth areas offered partial offset.MAHLOGQ4 19/20
- SCM recovery and expansion softened, but did not offset COVID-hit mobility and lower profit.MAHLOGQ4 20/21
- Record revenue and higher EBITDA, with acquisition integration and profitability the next test.MAHLOGQ4 22/23
- Q1 FY 2027 delivered 23% revenue growth and a PAT turnaround, led by strong segment execution.MAHLOGQ1 26/27
- Q2 FY25 revenue up 11.5% YoY to INR 1,521 crore; net loss after tax narrowed to INR 9.61 crores.MAHLOGQ2 24/25
- Q1 FY25 revenue up 10% YoY, but net losses and margin pressures continue amid new JV launches.MAHLOGQ1 24/25
Next Mahindra Logistics earnings date
Q3 26/2727 Jan, 2027
Mahindra Logistics
Next Mahindra Logistics earnings date
Q3 26/2727 Jan, 2027
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Frequently asked questions
Mahindra Logistics Ltd offers integrated logistics services including warehousing, transportation, freight forwarding, and supply chain management. It serves automotive, consumer goods, e-commerce, and other sectors across India. The company is headquartered in Mumbai, India, and its shares are listed on the NSE.