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Values in Rs. in  Crores

Mahindra Logistics Sep 23 Year on Year Revenue increase by 2.9% to Rs.1365 Crore and Year on Year Loss up by 221.2% to Rs.-15 Crore. Quarter to Quarter Revenue Zooms by 5.5% and Q to Q Loss increases by 81.4%

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Revenue Analysis:

Mahindra Logistics, has reported a revenue of Rs. 1365 Crore, which has crosses by 5.5% as compared to previous quarter revenue of Rs. 1293 Crore. As compared to revenue of September-22, there is a rise by 2.9% from Rs. 1326 Crore. to Rs. 1365 Crore.


Market Expectations V/s Actual

The Market Estimate of the Revenue was Rs.1395 Crore . Company's reported Revenue of Rs. 1365 is fairly in line with expectations.


Profit and Cost Analysis

Quarterly Loss has balloons by 221.2% to Rs.-15 Crore from Rs. 13 Crore, when compared with year ago quarter results. In comparison with preceding quarter of June, 2023 , quarter loss has drastically increased by 81.4% to Rs.-15 Crore from Rs. -8 Crore. Net Profit % of the Company has remained at -1.1% compared to -0.7% in previous quarter and 1.0% in year ago quarter.


On analysis, it is observed that this Quarter's EBITDA (Operating Profit) Margin has nearly maintains same to 3.9% from 5.2% as compared with June, 2023 quarter. The reason for the nearly stays similar of EBITDA Margin is due to,

a) Cost of Sales has nearly stays similar to 85.4% (Previous Quarter: 84.2%). Cost of Sales in absolute terms has rise from Rs. 1089 Crore to 1165 Crore.

b) Employee Cost has shrinks to 7.6% (Previous Quarter: 7.7%). Employee Cost in exact value has crosses from Rs. 99 Crore to 103 Crore.

c) Other Expenses has surge to 3.1% (Previous Quarter: 2.9%). Other Expenses zooms from Rs. 38 Crore to 43 Crore.


The finance cost has dwindle from Rs. 17.78 Crore to 16.53 Crore by -7.0%.


Key Matrix:

Price to Earning (PE) ratio of the company is 639.39 as compared to the Industry PE of 21.21. High PE signifies that there can be scope of correction in prices in future, unless market estimates high growth in the company. Companies Return on Equity (ROE) is NA and Return of Capital Employed (ROCE) is 7.2%.


Share Price Movement:

The Return on Share Prices were -6.2% in past one month, -0.4% in 3 months, -0.5% in 6 months, -32.2% in 12 months, -45.5% in 24 months.


Summary:

To summarize, as compared to June'23, Revenue has increased by 5.5%. Gross Margin has shrink from 15.8% to 14.6%. EBITDA Margin has nearly maintains same to 3.9% from 5.2%. and Net Profit After Tax Margin has reduced to -1.1% from -0.7%.


The Brief of Quarterly Results is as follows:


Mahindra Logistics Limited

Particulars (In Cr.)
Sep, 2023
Jun, 2023
Mar, 2023
Dec, 2022
Revenue
1364.8
1293.2
1272.5
1329.6
Cost of Goods Sold
1165.3
1089.4
1073.1
1134.2
Employee Cost
103.1
99.2
98.1
94.5
Other Expenses
42.8
38
36.8
38.3
EBITDA
53.6
66.7
64.5
62.5
Depreciation
51.8
54.5
55.3
49.8
Interest Expense
16.5
17.8
16.9
15
Other Income
6.8
6.2
3.8
5.6
Profit B4 Excep. Items
-8
0.6
-3.8
3.3
Exception Items
0
0.2
1.2
0.6
Net Profit Before Tax
-8
0.4
-5.1
2.8
Taxes
7.3
8.9
-4.8
1.9
Net Profit After Tax
-15.3
-8.4
-0.2
0.9
Gross Margin %
14.60%
15.80%
15.70%
14.70%
Employee Cost %
7.60%
7.70%
7.70%
7.10%
Other Expense Cost %
3.10%
2.90%
2.90%
2.90%
EBITDA %
3.90%
5.20%
5.10%
4.70%
Net Profit After Tax %
-1.10%
-0.70%
0.00%
0.10%

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