Mahindra Logistics Ltd. · NSE:MAHLOG
Mahindra Logistics — Q3 FY26 Earnings Presentation
36 slides from Mahindra Logistics's earnings presentation, Jan 27, 2026
Slide 1: Exchange filing cover letter for earnings presentation
mahindra 6> Mahindra Logistics Limited Arena Space, 10th & 11th Floor, LOGISTICS Plot No. 20, Jogeshwari Vikhroli Link Road, Near Majas Bus Depot, Jogeshwari (East), Mumbai – 400060, Maharashtra. Tel: +91 22 6836 7900 Email: enquiries@mahindralogistics.com www.mahindralogistics.com CIN: L63000MH2007
Slide 2: Q3 FY26 Investor Presentation
Igniting Success * 1it LonISTIcs Fon,To • OS muswl epeu.k, I Q3 FY26 Investor Presentation Business & Earnings Update mahindra LOGISTICS January 2026
Slide 3: Safe Harbor
Igniting Success Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Mahindra Logistics Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or sub
Slide 4: Company Overview
Igniting Success Company Overview mahindra LOGISTICS
Slide 5: India's leading logistics provider of integrated solutions
Igniting Success India’s leading logistics provider of integrated solutions 0 0 Contract Logistics B2B Express Providing Transportation, z B2B express and PTL SUPPLY CHAIN MANAGEMENT Warehousing, Stores & Line Feed , transportation with pan Fulfilment and VAS services India coverage mahindra 6> LOGI
Slide 6: Leading logistics service provider of India
Igniting Success Leading logistics service provider of India 22 Mn 30,000+ 1,100+ Sq. ft. space under management Total workforce Locations across India across India 19,000+ 1,500+ 50+ EV fleet 'II." Pin-codes MU/ Global trade covered (Cargo + PV) lanes 50,000+ 47 Mn+ 10,000+ WE) Full Truck Trips Gre
Slide 7: Presence in High Growth Segments (End-Markets)
Igniting Success Presence in High Growth Segments (End-Markets) ▪ India is 4th largest automobile market in the world by production Auto ▪ Favorable ecosystem for exports & government support II & 01 Hero ▪ ~25% contribution in contract logistics market, ~7% in GDP Auto Components ▪ FMCG & FMCD grow
Slide 8: Business Updates
Igniting Success Business Updates mahindra LOGISTICS
Slide 9: Management Commentary
Igniting Success Management Commentary Mr. Hemant Sikka – Managing Director and CEO “Q3 FY26 marks a defining inflection point for Mahindra Logistics. After 11 straight quarters of losses, we have returned to profitability, driven by sharper execution, stronger cost discipline, and a more focused gr
Slide 10: Q3 FY26 Business Highlights
Igniting Success Q3 FY26 Business Highlights Contract Logistics B2B Express Cross border Last Mile Delivery Mobility 01 02 03 04 05 O f •t I'M U ▪ Overall revenue at ₹1,502 Cr, ▪ Overall revenue at ₹114 ▪ Overall revenue at ₹95 Cr, ▪ Overall revenue at ₹82 Cr, ▪ Overall revenue at ₹106 growth of 20%
Slide 11: Contract Logistics - Key Trends & Opportunities
Igniting Success Contract Logistics - Key Trends & Opportunities Logistics Sector Industry Structure Key Trends Flo ▪ Higher Demand for Integrated 4,500 ▪ Highly fragmented with top 10 GNG Solutions instead of piece-meal players having ~15% share Market Size (Rs. ‘000 Crore) 3,000 logistics services
Slide 12: Contract Logistics - Core competency & capabilities
Igniting Success Contract Logistics - Core competency & capabilities End to End transport Warehousing solution Integrated Solutions solutions Manage WH with expertise in Centralized management Single point of contact design and operations of all transportation for E2E logistics Efficient Space Impro
Slide 13: Contract Logistics - Operating Highlights
Igniting Success Contract Logistics - Operating Highlights Space under Operating management locations 20.4+ Mn. Sq. Ft. 400+ jn ,nahluvra LoGurrtcs Im 1,-.00151105 rrohinc.Irj Vehicles Business Deployed Associates 15,000+ 1,500+ .. • Trucks Per month 12 mahindra Values as of Q3 FY26 LOGISTICS V ..
Slide 14: B2B Express - Key trends and Opportunities
Igniting Success B2B Express – Key trends and Opportunities Industry Structure Key Trends B2B Express (Surface) / Ae . 22,500 ▪ Organized players account for ▪ Increasing demand for Direct to Cl ~70% of volume Consumer, Omni-channel fulfillment 11,000 Market Size (Rs. Crore) ▪ Skewed load distributi
Slide 15: B2B Express - Core competency & capabilities
Igniting Success B2B Express – Core competency & capabilities Significant Network Coverage • ▪ Pan India coverage - 19,000+ Pin-codes ▪ ~200 Processing Centers & Branches/Terminals D • • • • • ▪ 500+ partners for first mile & last mile connectivity • • 4 • 9 • • • • • • • • • • • • ■ • • 0 Best in c
Slide 16: B2B Express - Operating Highlights
Igniting Success B2B Express – Operating Highlights Pin-code Space under reach management NW- 19,000+ ~1.6 REP Direct+ODA Mn. Sq Ft. RIVIGO BY mohindra LOGISTICS Pr Fr• Trans-shipment Line Hauls & Hubs & DCs Mid-mile 200+ 1,100+ Trucks RIVIG0 15 mahindra Values as of Q3 FY26 LOGISTICS V ..
Slide 17: Cross Border - Key Trends & Opportunities
Igniting Success Cross Border – Key Trends & Opportunities Industry Structure Key Trends Freight Forwarding ok, 380 / GP. ▪ Highly fragmented, dominated by ▪ Near shoring on account of regional 300 freight forwarders across major conflicts, reducing dependence on Market Size (Rs. ‘000 Crore) markets
Slide 18: Cross Border - Core competency & capabilities
Igniting Success Cross Border – Core competency & capabilities Expanding International Air Freight Ocean Freight Project Logistics presence Airw16`'` ;aim F rag I ► Ocean consolidation: USA ► ODC solutions catering to ► Expand presence in ► Airport-to-Airport /Europe /Asia to & from diverse industri
Slide 19: Cross Border - Core competency & capabilities
Igniting Success Cross Border – Core competency & capabilities F. Agent Partners Ocean Freight Volume • 250+ ~2,900+ Globally TEUs per quarter r ' • • IIIIIIIII r!. . . - IP` Air Freight No. of Forwarding Volume Lanes ~1500+ 50+ Tons per quarter Globally • 18 mahindra Values as of Q3 FY26. LOGISTICS
Slide 20: Last Mile Delivery - Key Trends & Opportunities
Igniting Success Last Mile Delivery – Key Trends & Opportunities Industry Structure Key Trends Last Mile Delivery, India / ▪ Last Mile is most expensive ▪ High growth in Micro fulfillment, 40,000 component of supply chain, ~50% sub same day delivery and dark Olo contribution in transportation cost s
Slide 21: Last Mile Delivery - Operating Highlights
Igniting Success Last Mile Delivery – Operating Highlights Volume Fleet eoeL epeLo handled Deployed Ear edLL —••••0 1.1110. 350,000+ 6,000+ orders per day Vehicles per day eoeL p / 4.0 eDeLo Last Mile Geographic stations 200+ Reach 4,000+ 1eL me Pin-codes Pan-India 'Mb -.- 20 mahindra Values as of Q
Slide 22: Mobility - Key Trends and Opportunities
Igniting Success 0 Mobility – Key Trends and Opportunities Airport Passenger* Industry Structure Key Trends ▪ Highly fragmented with large ▪ Recovery in Air passenger traffic, 60 unorganized supply growth in Business travel Market Size (Crore Pax) ▪ Shift from vendor model to ▪ Increasing adoption o
Slide 23: Mobility - Core competency & capabilities
Igniting Success Mobility – Core competency & capabilities L 4 LI ' qr-- 1 • gist . 'avow IL. .._ • in.. • • Maw a lire .„ -••••=••••• A a Enterprise Mobility Services Cab on Demand Services Airport & Outstation Upkeep Services ▪ Fleet Management ▪ Premium Vehicle (EVs) ▪ Assured Vehicles for Airpor
Slide 24: Mobility - Operating Highlights
Igniting Success Mobility – Operating Highlights No. of No. of vehicles Trips (B2B + B2C) deployed 10,000+ 5,000+ Per day Vehicles per day aly,ter> 0 0 U No. of operating No. of supply tit locations partners 100+ 300+ clIgtew> At& Per day Pan-India 23 mahindra Values as of Q3 FY26 LOGISTICS V ..
Slide 25: Drive to Net Zero
Igniting Success Drive to Net Zero 4.1 Mn Sq Feet Carbon Neutral by 2040 Solar Powered Warehouses 1,500+ EV ~47 Million ENE 2W, 3W & 4W CV Green KM with EVs 5 IGBC Gold & Platinum ill Recognition NENNI Certified buildings CII Scale Award – Green logistics BRSR 5000+ Kg Integrated Annual Report Waste
Slide 26: Corporate Social Responsibilities
Igniting Success Corporate Social Responsibilities BUILDING COMMUNITIES HIGHLIGHTS -- - ....... Joy of Giving Drive across 8 Locations Extended happiness to 530 beneficiaries through material donations, with the support of 103 volunteers contributing 213 volunteering elk hours. • Zero Fatality Zone
Slide 27: Financial Update
Igniting Success Financial Update mahindra LOGISTICS
Slide 28: Q3FY26 Consolidated Performance Highlights
Q3FY26 Consolidated Performance Highlights Igniting Success Amount in Rs. Cr +19% ( 9.2% ( 10.1% , # I 10.0% , I +28% C+11%D GM Margins +13% Revenue GM & 1,898.0 189.1 1,594.2 1,685.3 170.2 147.4 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 I 4.6% I 5.0% , * I 5.4% , -0.6% , I -0.6% I 0.5% , +39% +202%
Slide 29: 9MFY26 Consolidated Performance Highlights
9MFY26 Consolidated Performance Highlights Igniting Success Amount in Rs. Cr +15% 9.3% 3 I 9.8% C+21%) GM Margins 5,207.9 Revenue 4,535.3 GM & 512.7 422.4 9MFY25 9MFY26 9MFY25 9MFY26 I 4.5% 0 i 5.1% 0 -0.6% J I -0.2% 0, +28% ( +59%D EBITDA & EBITDA PAT Margins 264.1 Margins 206.3 PAT & -11.9 -29.1 9
Slide 30: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Igniting Success Amount in Rs. Cr Particulars Q3FY26 Q2FY26 QoQ Q3FY25 YoY 9MFY26 9MFY25 YoY Revenue 1,898.0 1,685.3 13% 1,594.2 19% 5,207.9 4,535.3 15% Other Income 5.3 2.9 6.3 13.3 13.6 Gross Margins 189.1 170.2 11% 147.4 28% 512.7 422.4 21% Gross Margins (%) 1
Slide 31: Segment Wise Performance
Segment Wise Performance Igniting Success Amount in Rs. Cr Revenue GM Segment Q3FY26 Q2FY26 Q3FY25 9MFY26 9MFY25 Q3FY26 Q2FY26 Q3FY25 9MFY26 9MFY25 1,791.9 1,595.4 1,517.3 4,931.6 4,298.7 180.1 161.5 139.7 486.1 397.9 SCM 12% 18% 15% 12% 29% 22% 1,502.0 1,316.3 1,255.2 4,107.1 3,511.0 164.8 147.5 12
Slide 32: Entity wise Performance
Entity wise Performance Igniting Success Amount in Rs. Cr Revenue EBITDA PAT Particulars (in INR Cr.) Q3FY26 Q2FY26 Q3FY25 Q3FY26 Q2FY26 Q3FY25 Q3FY26 Q2FY26 Q3FY25 MLL Standalone 1,545.3 1,366.9 1,326.9 93.0 82.2 76.9 14.9 3.8 11.6 Lords 90.2 90.2 71.5 3.7 2.3 1.5 2.8 1.7 1.5 2X2 34.0 23.4 25.3 9.2
Slide 33: Entity wise Performance
Entity wise Performance Igniting Success Amount in Rs. Cr Revenue EBITDA PAT Particulars (in INR Cr.) 9MFY26 9MFY25 9MFY26 9MFY25 9MFY26 9MFY25 MLL Standalone 4258.0 3719.4 253.9 217.5 25.2 30.4 Lords 254.2 229.3 7.1 6.4 5.4 5.5 2X2 81.3 60.7 20.9 15.8 6.1 4.9 Mobility 286.3 240.5 6.8 5.2 8.2 4.1 ME
Slide 34: Express Business Update
Express Business Update Igniting Success Amount in Rs. Cr Pricing/yield actions implemented Phase-2 initiatives Network Optimization across key customer sets underway Automation, hub Reduced linehaul & Improving consolidation & route handling cost per parcel revenue per parcel density expansion MESP
Slide 35: Contact Us
Igniting Success Contact Us Company : Investor Relations Advisors : mahinclra LOGISTICS I SGAStrategic Growth Advisors CIN: L63000MH2007PLC173466 CIN: U74140MH2010PTC204285 Mrs. Isha Dalal Mr. Mandar Chavan / Mr. Shogun Jain Chief Financial Officer mandar.chavan@sgapl.net / CFO.MLL@mahindralogistics
Slide 36: Thank You
THANKYOU mahindra LOGISTICS I Corporate Office 10 & 11 Floor, Arena Space Plot No 20, Jogeshwari-Vikhroli Link Road, Near Majas Depot, Jogeshwari (East) Mumbai- 400 060 Maharashtra, India ma h i nd ra LOGISTICS 0 C.I.N: L63000MH2007PLC173466 Email: enquiries@mahindralogistics.com MISI> RIVIGO g lya>