Mahindra Logistics Limited (MLL) reported consolidated revenue of ₹2,095 crore for the second quarter of FY27, an increase of 24% year-on-year and 5% quarter-on-quarter. EBITDA rose 46% year-on-year to ₹124 crore, while the EBITDA margin expanded by 90 basis points to 5.9%. Profit after tax (PAT) stood at ₹26.2 crore, compared with a loss in the corresponding quarter last year, representing an improvement of ₹37 crore year-on-year. Diluted earnings per share were ₹2.64, against a loss of ₹1.20 in Q2 FY26 and ₹2.55 in Q1 FY27. Return on capital employed (ROCE) for the first half of FY27 increased to 12.9%, from 1.7% in the same period last year.
The contract logistics business recorded 28% year-on-year revenue growth, supported by higher volumes from key customers, including Mahindra & Mahindra’s automotive business. The company said profitability improved alongside revenue, supported by contract selection and operating discipline.
Mahindra Logistics’ express business, operated through MESPL, grew 69% year-on-year and 11% sequentially. It recorded its first EBITDA-positive quarter since acquisition, supported by improved yields, higher volumes and a focus on unit economics. The last-mile delivery business generated revenue of ₹68 crore during the quarter. EBITDA increased to ₹1.6 crore from ₹0.4 crore in Q2 FY26, as the business prioritised service quality and margins. The mobility business grew 33% year-on-year, driven by new customer additions in the business-to-business segment, while also improving margins. Freight forwarding revenue increased 12% quarter-on-quarter, accompanied by higher profitability.
Hemant Sikka, Managing Director and CEO of Mahindra Logistics, said the quarter reflected stronger execution, operating discipline and a focus on profitable growth. He said the improvement in ROCE showed better capital productivity, while MESPL’s return to positive EBITDA marked progress in its turnaround. He added that the company would continue to focus on productivity, service levels, customer outcomes and sustainable growth across its businesses.
Mahindra Logistics provides third-party logistics and enterprise mobility services to more than 400 corporate customers across sectors including automotive, engineering, consumer goods and e-commerce. The company follows an asset-right business model and provides technology-enabled supply chain and people mobility solutions.
Mahindra Logistics Limited is part of the Mahindra Group, which was founded in 1945 and operates across more than 100 countries. The group has businesses spanning farm equipment, utility vehicles, information technology, financial services, renewable energy, agriculture, logistics, hospitality and real estate.
