Mahindra Logistics Limited (MLL) is India's premier integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility solutions. Founded in 2008, the company has established itself as a comprehensive logistics and supply chain management company, serving diverse industries across India and internationally.
The company operates through two primary segments: Supply Chain Management and Enterprise Mobility Services. The Supply Chain Management segment offers customized, end-to-end logistics solutions including transportation and distribution, warehousing, in-factory logistics, and value-added services. The Enterprise Mobility Services segment provides technology-enabled people transportation solutions across India for domestic and multinational companies operating in IT, ITeS, business process outsourcing, financial services, consulting, and manufacturing industries.
Mahindra Logistics has shown consistent revenue growth, despite reporting a net loss in the recent financial year.
For the full year ended March 2025, Mahindra Logistics reported revenue of ₹6,104.83 crores, representing a growth of 10.88% compared to ₹5,505.97 crores in the previous year. The company reported a net loss of ₹35.85 crores for FY25, which was a significant improvement from the net loss of ₹54.74 crores in the previous year.
In the fourth quarter ended March 2025, the company achieved revenue of ₹1,569.51 crores, marking an 8.19% increase from ₹1,450.76 crores in the same quarter of the previous year. The net loss for Q4 FY25 narrowed to ₹6.75 crores compared to ₹12.85 crores in Q4 FY24. EBITDA for the quarter showed strong growth of 37.2% to ₹77.7 crores compared to ₹56.6 crores in Q4 FY24.
• FY25 Performance: Revenue of ₹6,104.83 crores (+10.88% YoY), Net Loss of ₹35.85 crores (improved from ₹54.74 crores)
• Q4 FY25 Performance: Revenue of ₹1,569.51 crores (+8.19% YoY), Net Loss of ₹6.75 crores (improved from ₹12.85 crores), EBITDA of ₹77.7 crores (+37.2% YoY)
• Market Capitalization: ₹2,293 crores (as of July 2025)
• Earnings Per Share (EPS) FY25: ₹-5.1
• Promoter Holding: 57.97% (as of March 2025)
• Dividend Declared FY25: ₹2.50 per equity share
The company offers Supply Chain expertise to diverse industry verticals including Automotive, Engineering, Consumer Goods, Pharmaceuticals, Telecommunications, Commodities, and E-commerce. Under its contract logistics operations, the company manages over 22.1 million square feet of warehousing with automation and operates more than 15,000 trucks per month under an asset-light model.
The Enterprise Mobility Services segment includes on-call services, green-fleet solutions, event transportation, and subscription services. The company provides enterprise mobility services, cab on demand, airport pickup and transfer, outstation and upkeep services under the Alyte and Meru brands.
The company underwent a significant leadership change in May 2025, with Managing Director and CEO Rampraveen Swaminathan resigning with effect from May 4, 2025. The board approved the appointment of Hemant Sikka as the new Managing Director and CEO for a period of five years from May 5, 2025, to May 4, 2030, subject to shareholder approval.
Promoter holding in Mahindra Logistics has decreased marginally to 57.97% as of March 2025 from 58.03% as of June 2024, indicating a relatively stable ownership structure. The company's board has recommended a final dividend of ₹2.50 per equity share for FY25, consistent with the dividend of ₹2.50 per share declared for FY24.
Mahindra Logistics is focused on expanding its operations and improving profitability. The company saw positive revenue growth trends driven by growth in 3PL contract logistics and Express business, with full-year revenue growth of 11% driven by account additions, new offerings, and new launches.
The company is expanding its warehousing operations with new additions in Maharashtra, West Bengal, Guwahati, and Tripura, while focusing on expanding margins through solutions share, cost management, and turnaround of the express business. The company has also set ambitious sustainability goals, targeting carbon neutrality by 2040, alongside productivity improvement initiatives for margin expansion.
Mahindra Logistics competes with major players including Seamec, Balmer Lawrie Investments, TCI Express, Navkar Corporation, Allcargo Logistics, Sindhu Trade Links, and Gateway Distriparks. The company's market capitalization of ₹2,293 crores is positioned competitively against the median market cap of ₹2,743 crores among its industry peers.
The logistics sector in India continues to benefit from the country's growing economy, increasing e-commerce penetration, and infrastructure development. As an integrated logistics provider with strong parentage under the Mahindra Group, the company is well-positioned to capitalize on these growth opportunities while addressing operational challenges through strategic initiatives and new leadership.
