Mahindra Logistics

₹362.9 -5.4 | 1.5%

WEBSITE BSE:540768 NSE : MAHLOG 23 Mar, 16:01

Market Cap ₹2612 Cr.

Stock P/E 66.4

P/B 4.7

Current Price ₹362.9

Book Value ₹ 77.8

Face Value 10

52W High ₹567.3

Dividend Yield 0.55%

52W Low ₹ 357

Edit Ratio

Mahindra Logistics Research see more...

Mahindra Logistics Ltd: Growth story should stem from asset-light business model

Overview Inc. Year: 2007Industry: Logistics

Mahindra Logistics Ltd is an primarily India based agency, which operates as a third party logistics (3PL) carrier provider. It provides logistics services to both external and internal customers. It offers inter-plant movement, warehousing, inbound and outbound logistics, linefeed and other services. It also offers People Transport Solutions, a line of commercial enterprise which offers customized services to organizations for transfer of employees from home to their workplace and back. The Company’s Mahindra People Transport Solutions division guarantees on time pickups and drops with a focal point on protection, comfort and protection.

Quarterly Price

Quarterly Monthly

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Peer Comparison

Mahindra Logistics Quarterly Results

#(Fig in Cr.)	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Net Sales	833	1047	974	873	1019	1118	1073	1200	1326	1330
Other Income	8	2	5	2	2	3	6	3	3	6
Total Income	841	1049	979	875	1021	1121	1078	1203	1330	1335
Total Expenditure	795	994	928	828	969	1070	1018	1134	1259	1267
Operating Profit	46	55	51	47	52	50	61	69	71	68
Interest	4	5	6	6	7	7	9	9	11	15
Depreciation	21	24	26	29	33	36	37	41	44	50
Exceptional Income / Expenses	0	0	-3	0	0	0	0	0	0	0
Profit Before Tax	20	25	16	12	12	7	14	19	17	4
Provision for Tax	5	7	4	3	3	2	3	5	5	2
Profit After Tax	15	18	12	9	9	5	11	14	12	2
Adjustments	0	-0	0	0	1	1	1	-0	0	-0
Profit After Adjustments	15	18	13	9	10	6	12	14	12	1
Adjusted Earnings Per Share	2.1	2.5	1.8	1.3	1.4	0.8	1.7	1.9	1.7	0.2

Mahindra Logistics Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1964	2084	2667	3416	3851	3471	3264	4083	4929
Other Income	8	13	10	8	8	14	17	12	18
Total Income	1973	2097	2676	3424	3859	3485	3281	4095	4946
Total Expenditure	1906	2032	2590	3298	3700	3313	3130	3885	4678
Operating Profit	66	65	86	126	159	172	152	210	269
Interest	0	1	3	4	3	18	20	30	44
Depreciation	6	8	15	20	22	73	90	135	172
Exceptional Income / Expenses	0	0	0	0	0	0	-3	0	0
Profit Before Tax	60	55	68	102	133	81	39	46	54
Provision for Tax	21	19	22	37	47	26	10	11	15
Profit After Tax	39	36	46	65	87	55	29	35	39
Adjustments	1	1	-0	-1	-1	-0	1	3	1
Profit After Adjustments	40	36	46	64	86	55	30	37	39
Adjusted Earnings Per Share	6.7	6.1	6.7	9	12	7.7	4.2	5.2	5.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	25%	2%	9%	0%
Operating Profit CAGR	38%	10%	20%	0%
PAT CAGR	21%	-26%	-5%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-18%	19%	-5%	NA%
ROE Average	6%	7%	12%	13%
ROCE Average	12%	13%	19%	19%

Mahindra Logistics Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	265	302	348	420	498	545	568	590
Minority's Interest	4	3	5	7	6	5	3	0
Borrowings	0	20	20	18	9	2	1	0
Other Non-Current Liabilities	4	5	-0	1	-2	115	173	257
Total Current Liabilities	242	256	431	527	676	734	920	1057
Total Liabilities	516	586	804	972	1186	1402	1665	1904
Fixed Assets	26	50	62	66	73	231	361	485
Other Non-Current Assets	8	13	72	122	131	184	100	187
Total Current Assets	482	523	668	784	982	985	1204	1232
Total Assets	516	586	804	972	1186	1402	1665	1904

Mahindra Logistics Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	87	102	84	50	66	55	100	198
Cash Flow from Operating Activities	27	-48	-34	12	95	85	294	201
Cash Flow from Investing Activities	-115	19	-3	0	-95	36	-108	-150
Cash Flow from Financing Activities	103	18	4	4	-11	-76	-87	-116
Net Cash Inflow / Outflow	15	-10	-33	16	-11	45	98	-66
Closing Cash & Cash Equivalent	102	92	50	66	55	100	198	132

Mahindra Logistics Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	6.68	6.09	6.71	9	11.99	7.7	4.19	5.16
CEPS(Rs)	7.55	7.4	8.93	11.95	15.2	18.02	16.58	23.53
DPS(Rs)	0	0	0	1.5	1.8	1.5	2.5	2
Book NAV/Share(Rs)	37.52	43.61	51.13	58.98	69.73	76.13	79.25	82.14
Core EBITDA Margin(%)	2.97	2.47	2.86	3.45	3.93	4.56	4.11	4.84
EBIT Margin(%)	3.08	2.71	2.67	3.1	3.56	2.85	1.82	1.85
Pre Tax Margin(%)	3.07	2.65	2.54	2.99	3.46	2.34	1.2	1.12
PAT Margin (%)	2	1.72	1.73	1.91	2.25	1.6	0.89	0.85
Cash Profit Margin (%)	2.3	2.12	2.28	2.49	2.82	3.71	3.64	4.14
ROA(%)	7.61	6.51	6.64	7.35	8.03	4.28	1.9	1.94
ROE(%)	17.47	14.78	15.15	17.01	18.88	10.63	5.25	5.97
ROCE(%)	22.44	18.86	20.03	25.32	27.66	17.7	10.07	12.3
Receivable days	37.25	39.06	45	49.8	49.2	55.41	57.1	43.13
Inventory Days	0.51	0.5	0	0	0	0	0	0.13
Payable days	2415.55	4093.3	0	0	0	0	0	0
PER(x)	0	0	0	53.87	43.63	29.3	138.45	98.21
Price/Book(x)	0	0	0	8.22	7.5	2.97	7.31	6.17
Dividend Yield(%)	0	0	0	0.31	0.34	0.66	0.43	0.39
EV/Net Sales(x)	0	0.02	0.02	1	0.96	0.45	1.22	0.87
EV/Core EBITDA(x)	0.04	0.57	0.61	27.2	23.32	9.01	26.27	16.9
Net Sales Growth(%)	0	6.08	27.96	28.11	12.74	-9.87	-5.98	25.1
EBIT Growth(%)	0	-6.52	26.21	48.48	29.32	-27.83	-40	27.07
PAT Growth(%)	0	-8.55	28.53	41.58	32.76	-36.01	-47.38	18.47
EPS Growth(%)	0	-8.8	10.12	34.12	33.21	-35.72	-45.67	23.22
Debt/Equity(x)	0.02	0.09	0.1	0.08	0.08	0.07	0.05	0.06
Current Ratio(x)	1.99	2.05	1.55	1.49	1.45	1.34	1.31	1.17
Quick Ratio(x)	1.98	2.03	1.55	1.49	1.45	1.34	1.31	1.16
Interest Cover(x)	266.16	47.88	20.43	28.08	39.34	5.61	2.95	2.55
Total Debt/Mcap(x)	0	0	0	0.01	0.01	0.02	0.01	0.01

Mahindra Logistics Shareholding Pattern

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	58.4	58.35	58.34	58.31	58.25	58.18	58.18	58.12	58.11	58.1
FII	20.43	20.39	20.93	20.99	21.84	21.66	20.39	20.08	15.8	15.55
DII	10.03	11.11	11.93	11.3	10.89	11.09	12.13	13.49	15.53	15.46
Public	11.14	10.16	8.8	9.41	9.02	9.06	9.3	8.31	10.56	10.89
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022
Promoter	4.18	4.18	4.18	4.18	4.18	4.18	4.18	4.18	4.18	4.18
FII	1.46	1.46	1.5	1.5	1.57	1.56	1.47	1.44	1.14	1.12
DII	0.72	0.8	0.86	0.81	0.78	0.8	0.87	0.97	1.12	1.11
Public	0.8	0.73	0.63	0.67	0.65	0.65	0.67	0.6	0.76	0.78
Others	0	0	0	0	0	0	0	0	0	0
Total	7.16	7.17	7.17	7.17	7.18	7.19	7.19	7.19	7.2	7.2