Mahindra Logistics Ltd (MLL), a leading provider of integrated logistics and mobility solutions in India, has announced its unaudited consolidated financial results for the quarter ended 30 September 2025. Mahindra Logistics Ltd reported steady progress in its financial performance for the second quarter of FY26, recording a consolidated revenue of ₹1,685 crore compared to ₹1,521 crore in the same period last year, marking an 11% year-on-year growth.
The company’s EBITDA improved to ₹85 crore from ₹66 crore, reflecting operational efficiency and better cost management. Despite these improvements, the company reported a pre-tax loss of ₹5.41 crore, slightly higher than the loss of ₹4.97 crore recorded in Q2 FY25. Net loss narrowed marginally to ₹10.35 crore compared to ₹10.75 crore in the previous year, with diluted earnings per share standing at ₹(1.20) as against ₹(1.44) last year.
For the first half of FY26, Mahindra Logistics registered consolidated revenue of ₹3,310 crore, an increase from ₹2,941 crore in H1 FY25, reflecting sustained growth across business segments. EBITDA for the half year rose to ₹161 crore from ₹133 crore, supported by improved business volumes and efficiency gains. The company reported a pre-tax loss of ₹11.23 crore compared to ₹7.47 crore in the same period last year, while net loss stood at ₹21.15 crore as against ₹20.07 crore. The diluted earnings per share for H1 FY26 was ₹(2.62) compared to ₹(2.68) in H1 FY25.
On a standalone basis, Mahindra Logistics posted revenue of ₹1,367 crore in Q2 FY26, up from ₹1,236 crore in Q2 FY25. EBITDA grew to ₹82 crore from ₹69 crore, demonstrating strong operational performance. However, profit before tax declined to ₹5.12 crore from ₹11.61 crore due to higher input and expansion-related costs. Profit after tax stood at ₹3.79 crore compared to ₹8.54 crore in the same quarter last year, with diluted earnings per share at ₹0.44 compared to ₹1.14.
For the first half of FY26, the company’s standalone revenue reached ₹2,713 crore, a growth from ₹2,393 crore in H1 FY25. EBITDA improved to ₹161 crore from ₹141 crore, showcasing steady performance across core business operations. Profit before tax was ₹13.80 crore compared to ₹25.35 crore last year, while profit after tax was ₹10.23 crore against ₹18.76 crore in H1 FY25. Diluted earnings per share stood at ₹1.26 compared to ₹2.50 in the corresponding period of the previous year.
The company’s business performance during the quarter was supported by broad-based growth across its key verticals—3PL, Freight Forwarding, Mobility, and Express. The Express segment turned gross margin positive for the first time since its acquisition, driven by improved yield management and a 7.2% increase in delivered volumes year-on-year. Freight Forwarding reported a 22% sequential growth, overcoming challenges from global trade disruptions and tariff-related pressures. The Mobility business maintained strong traction, achieving 15% growth both year-on-year and sequentially, aided by the launch of Alyte, a new tech-enabled premium mobility service for modern travelers.
During the quarter, Mahindra Logistics continued expanding its warehousing and logistics infrastructure, taking its managed capacity to 22.1 million square feet. The company strengthened its presence in Eastern India by adding two Grade-A facilities in Guwahati and Agartala, contributing over 4 lakh square feet of additional capacity. Its Last Mile Delivery and Freight Forwarding businesses received multiple industry accolades, including awards from Amazon, Flipkart, and the Cold Chain Excellence Awards 2025, recognizing operational excellence and service reliability.
Commenting on the company’s performance, Hemant Sikka, Managing Director and CEO of Mahindra Logistics Ltd., said that the recent months marked a period of transformation and strategic realignment for the organization. He noted that the company has recalibrated its business model, optimized operations, and strengthened its balance sheet through a successful rights issue, positioning it for long-term resilience and profitability. He also emphasized key achievements, including over 20% reduction in whitespace, positive margins in the Express business, the launch of eight new projects, expansion from repeat clients, and cost rationalization across overheads and discretionary expenditures.
Mr Sikka also noted that during the festive season, the company’s e-commerce network dispatched over 3.5 crore shipments from fulfillment centres, processed 4.3 crore shipments through sortation hubs, and completed 6,000+ trips across India. He added, “As we enter the second half of the year, our focus will remain on operational excellence, customer retention, and network efficiency to drive sustainable value creation.”
Mahindra Logistics Ltd is an integrated third-party logistics (3PL) service provider offering supply chain management and enterprise mobility solutions. Serving over 400 corporate clients across industries including automobile, engineering, consumer goods, and e-commerce, the company operates through an asset-light model, leveraging technology-enabled, customized solutions.
Part of the Mahindra Group, founded in 1945, MLL benefits from the group’s global presence across over 100 countries and leadership in farm equipment, utility vehicles, IT, financial services, and renewable energy. The Mahindra Group remains committed to ESG leadership, rural development, and urban advancement, driving its vision to enable communities to Rise.
