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Mahindra Logistics (MAHLOG) investor relations material
Mahindra Logistics Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed a comprehensive business review, focusing on operational excellence, cost optimization, and site-level economics for long-term margin growth.
Achieved consolidated revenue of ₹1,685 Cr in Q2 FY26, up 11% year-over-year, with gross margin improvement and EBITDA up 28% YoY.
Express/B2B Express logistics business turned gross margin positive for the first time since acquisition, with ongoing efforts to reach EBITDA positivity.
Rights issue of ₹749.27 crore completed, reducing consolidated debt from ₹601 crore to ₹33.92 crore and strengthening the balance sheet.
Financial statements for Q2 and H1 FY2026 were approved and reviewed by the Board and auditors, prepared in accordance with Indian Accounting Standards and SEBI Listing Regulations.
Financial highlights
Q2 FY26 consolidated revenue was ₹1,685.27 crore, up from ₹1,521.10 crore YoY; H1 FY26 revenue was ₹3,309.86 crore, up from ₹2,941.12 crore YoY.
Gross margin for Q2 FY26 improved to 10.1% from 9.2% YoY; EBITDA for the quarter was ₹85.1 crore, up from ₹66.4 crore YoY.
PAT loss for Q2 FY26 was ₹8.36 crore, marginally improved YoY, with a one-time charge of ₹4.8 crore for doubtful debts.
Standalone revenue for Q2 FY26 was ₹1,366.91 crore, up from ₹1,235.92 crore YoY; standalone net profit was ₹3.79 crore.
Warehousing segment revenue rose 20% YoY to ₹333 crore; supply chain management contributed ₹1,595.42 crore in Q2 FY26 revenue.
Outlook and guidance
Focus remains on yield improvement, operational excellence, customer retention, and network optimization for sustainable value creation.
No new BTS warehouse space planned; future expansion to be RTM-based unless back-to-back client commitments arise.
Continued investment in technology, sustainability, and expansion in high-growth segments.
Earnings per share for comparative periods have been retrospectively adjusted for the rights issue.
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