Mahindra Logistics Ltd. (IN:MAHLOG)
:MAHLOG
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Mahindra Logistics Ltd.
(MAHLOG)
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Rating:53Neutral
Price Target:
₹366.00
▲(16.26% Upside)
Action:Reiterated
Date:04/25/26
The score is driven primarily by mixed financial performance: strong revenue growth and improved leverage are offset by very weak/unstable profitability and softer recent free-cash-flow momentum. Technicals are supportive with strong trend strength, but momentum looks stretched. Valuation is a major constraint due to an extremely high P/E and low dividend yield.
Positive Factors
Consistent revenue growth
Sustained top-line expansion across 2022–2026 (annual growth ~7%–27%, Fundamentals.RevenueGrowth ~14.7%) indicates the company is scaling its 3PL and mobility offerings. Durable revenue growth supports recurring contract wins, network leverage and long-term client relationships.
Negative Factors
Very thin and volatile profitability
Low operating margins leave little cushion vs. cost inflation or contract price pressure; swings from profit to loss (2024–2025) show earnings instability. Persistently thin margins constrain reinvestment, limit free cash build and heighten operational risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent revenue growth
Sustained top-line expansion across 2022–2026 (annual growth ~7%–27%, Fundamentals.RevenueGrowth ~14.7%) indicates the company is scaling its 3PL and mobility offerings. Durable revenue growth supports recurring contract wins, network leverage and long-term client relationships.
Read all positive factors
Mahindra Logistics Ltd. (MAHLOG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹35.82B
Dividend Yield0.69%
Average Volume (3M)6.27K
Price to Earnings (P/E)40.8
Beta (1Y)1.63
Revenue Growth14.65%
EPS Growth95.62%
CountryIN
Employees3,740
SectorServices
Sector StrengthN/A
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)-4.75
Shares Outstanding99,222,480
10 Day Avg. Volume7,222
30 Day Avg. Volume6,274
Financial Highlights & Ratios
PEG Ratio-12.67
Price to Book (P/B)2.59
Price to Sales (P/S)0.44
P/FCF Ratio26.60
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)11.53
Revenue Forecast (FY)₹80.50B
Mahindra Logistics Ltd. Business Overview & Revenue Model
Company Description
Mahindra Logistics Limited provides integrated logistics and mobility solutions in India and internationally. It operates through two segments, Supply Chain Management (SCM) and Enterprise Mobility Services (EMS). The SCM segment provides customiz...
How the Company Makes Money
Mahindra Logistics makes money primarily by delivering logistics and mobility services under contracts for corporate customers, earning service fees based on the scope and volume of activity managed.
Key revenue streams include:
- Integrated logi...
Mahindra Logistics Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 64.74B | 69.99B | 61.05B | 55.06B | 51.28B | 41.31B |
| Gross Profit | 30.07B | 62.94B | 1.92B | 1.71B | 1.98B | 1.32B |
| EBITDA | 2.06B | 3.86B | 3.00B | 2.51B | 2.76B | 1.98B |
| Net Income | -369.30M | 22.90M | -358.50M | -547.40M | 262.80M | 175.60M |
Balance Sheet | ||||||
| Total Assets | 31.28B | 31.08B | 25.80B | 24.77B | 25.53B | 19.75B |
| Cash, Cash Equivalents and Short-Term Investments | 2.43B | 8.19B | 966.10M | 769.10M | 1.93B | 2.52B |
| Total Debt | 6.76B | 6.50B | 8.69B | 7.39B | 8.34B | 4.02B |
| Total Liabilities | 19.63B | 19.09B | 21.26B | 19.73B | 19.93B | 14.29B |
| Stockholders Equity | 11.45B | 11.75B | 4.38B | 4.92B | 5.62B | 5.46B |
Cash Flow | ||||||
| Free Cash Flow | -1.11B | 1.15B | 1.62B | 1.56B | 483.70M | 949.80M |
| Operating Cash Flow | -356.10M | 2.54B | 3.43B | 2.27B | 1.19B | 1.91B |
| Investing Cash Flow | -2.42B | -3.16B | -1.55B | -542.90M | -3.10B | -1.40B |
| Financing Cash Flow | 2.54B | 1.05B | -1.48B | -2.76B | 1.83B | -1.17B |
Mahindra Logistics Ltd. Technical Analysis
Negative
314.80
Price Trends
385.98
Negative
367.11
Negative
351.67
Positive
Market Momentum
-8.69
Positive
33.85
Neutral
11.12
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAHLOG, the sentiment is Negative. The current price of 314.8 is below the 20-day moving average (MA) of 396.19, below the 50-day MA of 385.98, and below the 200-day MA of 351.67, indicating a neutral trend. The MACD of -8.69 indicates Positive momentum. The RSI at 33.85 is Neutral, neither overbought nor oversold. The STOCH value of 11.12 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MAHLOG.
Mahindra Logistics Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹67.68B | 18.01 | ― | 0.94% | 8.65% | 13.08% | |
66 Neutral | ₹341.19B | 204.26 | ― | ― | 17.65% | -6.32% | |
66 Neutral | ₹12.90B | ― | ― | 19.52% | -66.71% | -356.19% | |
63 Neutral | ₹116.45B | 45.53 | ― | 0.46% | 7.35% | -1.99% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹35.82B | 40.78 | ― | 0.69% | 14.65% | 95.62% | |
47 Neutral | ₹48.82B | 116.38 | ― | ― | 5.51% | ― |
* Services Sector Average
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Mahindra Logistics Ltd. Corporate Events
Mahindra Logistics Posts 15% FY26 Revenue Growth and Returns to Profit
Apr 23, 2026
Mahindra Logistics reported consolidated revenue of Rs. 6,999 crore for FY26, a 15% year-on-year rise from Rs. 6,105 crore, with EBITDA improving to Rs. 376 crore and reported profit after tax turning positive at Rs. 2.3 crore versus a loss in the...
Mahindra Logistics Faces GST Demand and Penalty, Sees No Material Impact
Mar 16, 2026
Mahindra Logistics Ltd. has disclosed that the Deputy Commissioner in Haridwar, Uttarakhand has issued an order for the FY 2019-20 GST assessment, raising a tax demand of Rs 28.7 lakh, along with interest of Rs 33.1 lakh and an equivalent penalty,...
Mahindra Logistics Elevates Yash Jalta to Lead Fleet Services Business
Mar 9, 2026
Mahindra Logistics has appointed Yash Jalta as Head – Fleet Service Business and designated him as a Senior Management Personnel, effective 10 March 2026, following approval by the board based on the Nomination and Remuneration CommitteeR...
Mahindra Logistics flags GST dispute; sees no material financial impact
Mar 7, 2026
Mahindra Logistics Ltd. has disclosed that it received an order from the Deputy Commissioner in Haridwar, Uttarakhand, related to a GST assessment for FY 2019-20, citing alleged excess Input Tax Credit claimed under the Uttarakhand GST, CGST, and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.