Mahindra Logistics (MAHLOG) Q1 26/27 earnings summary

Executive summary

• Q1 FY 2027 saw strong revenue growth and a turnaround from a PAT loss of INR 10.8 crore in Q1 FY 2026 to a PAT profit of INR 25.4 crore, driven by transformation initiatives, disciplined execution, and customer focus.

• New customer wins in Contract Logistics and Express, with e-commerce and quick commerce scaling up.

• Consolidated revenue from operations for the quarter ended 30 June 2026 was ₹2,002.88 crore, up from ₹1,624.59 crore in the same quarter last year.

• Net profit after tax for the quarter was ₹27.83 crore, a turnaround from a net loss of ₹9.44 crore year-over-year.

Financial highlights

• Consolidated revenue grew 23% year-over-year to INR 2,003 crore; supply chain management contributed 94% and mobility 6%.

• Gross margin improved to 9.7% from 9.4% YoY; reported EBITDA rose to INR 115 crore from INR 76 crore; EBITDA margin at 5.8%.

• Adjusted EBITDA (pre-Ind AS 116) was INR 57 crore, up 76% YoY; adjusted EBITDA margin at 2.8%, up 85 bps.

• PAT for the quarter was INR 25.4 crore, including INR 4 crore of non-recurring income tax refund interest.

• Earnings per share (basic and diluted) were ₹2.56 and ₹2.55, respectively, compared to a loss per share of ₹1.44 in the prior year quarter.

Outlook and guidance

• Focus remains on profitable growth, operational efficiency, intelligent scale, and technology-driven customer experience.

• Targeting continued PAT positivity and EBITDA breakeven in the express business within FY 2027.

• Medium-term gross margin expansion of 150-200 bps expected across the business.

• Financial statements prepared in accordance with Indian Accounting Standards and SEBI regulations, with no material misstatements identified by auditors.