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Mahindra Logistics

NSEI:MAHLOG
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MAHLOG
NSEI
₹39B
Market Cap
  1. Home
  2. IN
  3. Transportation
Company description

Mahindra Logistics Limited provides third party logistic services in India and internationally. The last earnings update was 84 days ago. More info.


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MAHLOG Share Price and Events
7 Day Returns
-2.6%
NSEI:MAHLOG
-2.2%
IN Logistics
-1.9%
IN Market
1 Year Returns
12.6%
NSEI:MAHLOG
-16.4%
IN Logistics
-2.8%
IN Market
MAHLOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mahindra Logistics (MAHLOG) -2.6% 9.5% 4.9% 12.6% - -
IN Logistics -2.2% -2.8% 2.5% -16.4% -35.6% 18.5%
IN Market -1.9% 1.2% 5.1% -2.8% 38.3% 71%
1 Year Return vs Industry and Market
  • MAHLOG outperformed the Logistics industry which returned -16.4% over the past year.
  • MAHLOG outperformed the Market in India which returned -2.8% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Mahindra Logistics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Mahindra Logistics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Mahindra Logistics.

NSEI:MAHLOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:MAHLOG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Logistics Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 35%) (0.84%))
1.027
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.027 * 8.6%)
16.38%

Discounted Cash Flow Calculation for NSEI:MAHLOG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Mahindra Logistics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:MAHLOG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 16.38%)
2019 836.25 Analyst x4 718.53
2020 941.50 Analyst x4 695.09
2021 857.50 Analyst x4 543.95
2022 820.83 Est @ -4.28% 447.40
2023 814.85 Est @ -0.73% 381.62
2024 829.15 Est @ 1.76% 333.65
2025 858.12 Est @ 3.49% 296.70
2026 898.54 Est @ 4.71% 266.94
2027 948.52 Est @ 5.56% 242.12
2028 1,006.94 Est @ 6.16% 220.85
Present value of next 10 years cash flows ₹4,146.85
NSEI:MAHLOG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹1,006.94 × (1 + 7.55%) ÷ (16.38% – 7.55%)
₹12,260.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹12,260.10 ÷ (1 + 16.38%)10
₹2,689.00
NSEI:MAHLOG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹4,146.85 + ₹2,689.00
₹6,835.84
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹6,835.84 / 71.45
₹95.68
NSEI:MAHLOG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:MAHLOG represents 1.01052x of BSE:540768
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.01052x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 95.68 x 1.01052
₹96.68
Value per share (INR) From above. ₹96.68
Current discount Discount to share price of ₹538.10
= -1 x (₹538.10 - ₹96.68) / ₹96.68
-456.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Mahindra Logistics is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Mahindra Logistics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mahindra Logistics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:MAHLOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹11.61
BSE:540768 Share Price ** BSE (2019-04-24) in INR ₹532.5
India Logistics Industry PE Ratio Median Figure of 19 Publicly-Listed Logistics Companies 17.81x
India Market PE Ratio Median Figure of 2,739 Publicly-Listed Companies 16.02x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Mahindra Logistics.

NSEI:MAHLOG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:540768 Share Price ÷ EPS (both in INR)

= 532.5 ÷ 11.61

45.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mahindra Logistics is overvalued based on earnings compared to the IN Logistics industry average.
  • Mahindra Logistics is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Mahindra Logistics's expected growth come at a high price?
Raw Data
NSEI:MAHLOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 45.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
27%per year
India Logistics Industry PEG Ratio Median Figure of 7 Publicly-Listed Logistics Companies 1.48x
India Market PEG Ratio Median Figure of 586 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

NSEI:MAHLOG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 45.88x ÷ 27%

1.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mahindra Logistics is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Mahindra Logistics's assets?
Raw Data
NSEI:MAHLOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹62.93
BSE:540768 Share Price * BSE (2019-04-24) in INR ₹532.5
India Logistics Industry PB Ratio Median Figure of 20 Publicly-Listed Logistics Companies 1.54x
India Market PB Ratio Median Figure of 3,630 Publicly-Listed Companies 1.09x
NSEI:MAHLOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:540768 Share Price ÷ Book Value per Share (both in INR)

= 532.5 ÷ 62.93

8.46x

* Primary Listing of Mahindra Logistics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Mahindra Logistics is overvalued based on assets compared to the IN Logistics industry average.
X
Value checks
We assess Mahindra Logistics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Logistics industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Logistics industry average (and greater than 0)? (1 check)
  5. Mahindra Logistics has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Mahindra Logistics expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
27%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mahindra Logistics expected to grow at an attractive rate?
  • Mahindra Logistics's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Mahindra Logistics's earnings growth is expected to exceed the India market average.
  • Mahindra Logistics's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:MAHLOG Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:MAHLOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 27%
NSEI:MAHLOG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 16.3%
India Logistics Industry Earnings Growth Rate Market Cap Weighted Average 30.9%
India Logistics Industry Revenue Growth Rate Market Cap Weighted Average 15.2%
India Market Earnings Growth Rate Market Cap Weighted Average 18.3%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:MAHLOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:MAHLOG Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-03-31 88,790 1
2023-03-31 77,209 1
2022-03-31 67,138 1
2021-03-31 50,817 1,217 1,472 4
2020-03-31 44,555 1,173 1,157 6
2019-03-31 38,642 1,068 881 6
NSEI:MAHLOG Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 37,293 826
2018-09-30 35,833 783
2018-06-30 34,918 732
2018-03-31 34,161 119 640
2017-12-31 32,464 554
2017-09-30 31,265 520
2017-06-30 29,048 493
2017-03-31 26,666 -342 456
2016-03-31 20,639 -479 365

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mahindra Logistics's earnings are expected to grow significantly at over 20% yearly.
  • Mahindra Logistics's revenue is expected to grow by 16.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:MAHLOG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Mahindra Logistics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:MAHLOG Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 20.60 22.20 19.10 5.00
2020-03-31 16.28 16.70 15.70 5.00
2019-03-31 12.38 12.80 12.00 5.00
NSEI:MAHLOG Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 11.61
2018-09-30 11.01
2018-06-30 10.33
2018-03-31 9.13
2017-12-31 7.98
2017-09-30 7.57
2017-06-30 7.25
2017-03-31 6.71
2016-03-31 5.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Mahindra Logistics is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Mahindra Logistics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Mahindra Logistics has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Mahindra Logistics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Mahindra Logistics's growth in the last year to its industry (Logistics).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Mahindra Logistics's year on year earnings growth rate has been positive over the past 5 years.
  • Mahindra Logistics's 1-year earnings growth exceeds its 5-year average (49.2% vs 17.2%)
  • Mahindra Logistics's earnings growth has exceeded the IN Logistics industry average in the past year (49.2% vs 27.5%).
Earnings and Revenue History
Mahindra Logistics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Mahindra Logistics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:MAHLOG Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 37,293.20 826.00 652.20
2018-09-30 35,832.60 783.00 652.20
2018-06-30 34,918.40 732.20 652.20
2018-03-31 34,161.20 640.10 652.20
2017-12-31 32,464.27 553.69 405.55
2017-09-30 31,264.98 519.78 405.55
2017-06-30 29,048.11 493.01 534.95
2017-03-31 26,665.90 456.20 405.50
2016-03-31 20,639.33 365.45 340.33
2015-03-31 19,308.96 392.60 299.60
2014-03-31 17,506.96 366.16 16,074.22
2013-03-31 15,320.50 244.25 14,237.55

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Mahindra Logistics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Mahindra Logistics used its assets less efficiently than the IN Logistics industry average last year based on Return on Assets.
  • Mahindra Logistics has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Mahindra Logistics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Logistics industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Mahindra Logistics has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Mahindra Logistics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Mahindra Logistics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mahindra Logistics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mahindra Logistics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mahindra Logistics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 27x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Mahindra Logistics Company Filings, last reported 3 months ago.

NSEI:MAHLOG Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,544.40 325.70 1,910.50
2018-09-30 4,544.40 325.70 1,910.50
2018-06-30 4,265.50 346.30 1,160.80
2018-03-31 4,265.50 346.30 1,160.80
2017-12-31 3,893.00 360.63 2,267.23
2017-09-30 3,893.00 360.63 2,267.23
2017-06-30 3,687.45 391.53 959.47
2017-03-31 3,524.60 343.20 1,162.20
2016-03-31 3,047.31 281.60 1,517.13
2015-03-31 2,681.50 40.18 2,124.20
2014-03-31 1,243.43 0.00 871.74
2013-03-31 859.30 0.00 407.06
  • Mahindra Logistics's level of debt (7.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 7.2% today).
  • Debt is well covered by operating cash flow (36.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 907.1x coverage).
X
Financial health checks
We assess Mahindra Logistics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Mahindra Logistics has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Mahindra Logistics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.28%
Current annual income from Mahindra Logistics dividends. Estimated to be 0.97% next year.
If you bought ₹2,000 of Mahindra Logistics shares you are expected to receive ₹6 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Mahindra Logistics's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.51%).
  • Mahindra Logistics's dividend is below the markets top 25% of dividend payers in India (1.95%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:MAHLOG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
India Logistics Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 0.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:MAHLOG Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2024-03-31
2023-03-31
2022-03-31
2021-03-31 5.70 2.00
2020-03-31 4.60 2.00
2019-03-31 2.65 2.00
NSEI:MAHLOG Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-05-02 1.500 0.283

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Mahindra Logistics has stable dividend payments.
  • Mahindra Logistics only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Mahindra Logistics's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (7.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
X
Income/ dividend checks
We assess Mahindra Logistics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Mahindra Logistics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mahindra Logistics has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Mahindra Logistics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Phil Sarkari
COMPENSATION ₹33,600,000
AGE 52
TENURE AS CEO 9.1 years
CEO Bio

Mr. Pirojshaw Sarkari, also known as Phil, has been the Chief Executive Officer of Mahindra Logistics Limited since March 2, 2010.

CEO Compensation
  • Insufficient data for Phil to compare compensation growth.
  • Phil's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Mahindra Logistics management team in years:

3.4
Average Tenure
43.5
Average Age
  • The tenure for the Mahindra Logistics management team is about average.
Management Team

Phil Sarkari

TITLE
Chief Executive Officer
COMPENSATION
₹34M
AGE
52
TENURE
9.1 yrs

Brijbala Batwal

TITLE
Company Secretary
COMPENSATION
₹2M
AGE
43
TENURE
2.8 yrs

Yogesh Patel

TITLE
CFO & Compliance Officer
TENURE
0.6 yrs

Sushil Rathi

TITLE
Chief Operating Officer
COMPENSATION
₹11M
TENURE
3.7 yrs

Shantanu Roy

TITLE
Chief Information Officer
AGE
42
TENURE
3.4 yrs

Mehernosh Mehta

TITLE
VP of Human Resource
COMPENSATION
₹6M
AGE
43

Ravi Begur

TITLE
Senior General Manager
COMPENSATION
₹3M
AGE
51
TENURE
3.4 yrs

Prasanna Pahade

TITLE
Chief Strategy Officer
AGE
44

Neeraj Balani

TITLE
VP of Business Development
COMPENSATION
₹7M
AGE
42

Rama Malik

TITLE
VP of People Transport Solutions
COMPENSATION
₹7M
AGE
47
TENURE
3.4 yrs
Board of Directors Tenure

Average tenure and age of the Mahindra Logistics board of directors in years:

2.9
Average Tenure
49
Average Age
  • The average tenure for the Mahindra Logistics board of directors is less than 3 years, this suggests a new board.
Board of Directors

Zhooben Bhiwandiwala

TITLE
Non-Executive Chairman
AGE
58
TENURE
1.8 yrs

Parag Shah

TITLE
Non-Executive Director
AGE
42
TENURE
10 yrs

Chandrasekar Kandasamy

TITLE
Non-Executive Director
AGE
64
TENURE
11.5 yrs

Darius Pandole

TITLE
Non-Executive Independent Director
COMPENSATION
₹775K
AGE
52
TENURE
1.8 yrs

Ajay Mehta

TITLE
Non-Executive Independent Director
COMPENSATION
₹1M
AGE
57
TENURE
4.1 yrs

Sunish Sharma

TITLE
Non-Executive Director
AGE
43
TENURE
5.1 yrs

Ranu Vohra

TITLE
Non-Executive Independent Director
COMPENSATION
₹825K
AGE
46
TENURE
1.8 yrs

Avani Davda

TITLE
Additional Non-Executive Independent Director
AGE
39
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • Mahindra Logistics insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
28. Mar 19 Sell Govindarajan Jayaraj Individual 27. Mar 19 27. Mar 19 -4,000 ₹497.98 ₹-1,991,931
20. Dec 18 Sell Ravi Begur Individual 17. Dec 18 18. Dec 18 -19,450 ₹500.43 ₹-9,667,083
14. Dec 18 Sell Vivek Shetty Individual 13. Dec 18 13. Dec 18 -1,500 ₹526.72 ₹-790,076
06. Dec 18 Sell Amit Kamat Individual 03. Dec 18 05. Dec 18 -2,462 ₹530.49 ₹-1,261,847
04. Dec 18 Sell Sushil Rathi Individual 30. Nov 18 30. Nov 18 -5,000 ₹538.43 ₹-2,692,152
03. Dec 18 Sell Amit Kamat Individual 30. Nov 18 30. Nov 18 -2,500 ₹539.72 ₹-1,349,310
26. Nov 18 Sell Lovinder Saggu Individual 22. Nov 18 22. Nov 18 -4,725 ₹525.28 ₹-2,481,936
20. Nov 18 Sell K. Ramesh Individual 16. Nov 18 16. Nov 18 -2,800 ₹512.57 ₹-1,435,205
20. Nov 18 Sell Ravi Begur Individual 19. Nov 18 19. Nov 18 -25,000 ₹507.37 ₹-12,684,160
15. Nov 18 Sell Pramod Nair Individual 14. Nov 18 14. Nov 18 -20,213 ₹510.97 ₹-10,328,253
14. Sep 18 Sell Kamal Kapoor Individual 10. Sep 18 11. Sep 18 -4,450 ₹578.94 ₹-2,488,726
06. Sep 18 Sell Pirojshaw Sarkari Individual 03. Sep 18 04. Sep 18 -30,000 ₹593.77 ₹-17,813,232
05. Sep 18 Sell Shantanu Roy Individual 03. Sep 18 03. Sep 18 -8,000 ₹594.91 ₹-4,759,283
05. Sep 18 Sell Neeraj Balani Individual 04. Sep 18 04. Sep 18 -20,000 ₹589.04 ₹-11,780,841
29. Jun 18 Sell Ravi Begur Individual 28. Jun 18 28. Jun 18 -5,000 ₹551.26 ₹-2,756,314
14. May 18 Sell Jonathan Chelli Individual 10. May 18 11. May 18 -5,000 ₹564.05 ₹-2,820,269
14. May 18 Sell Neeraj Balani Individual 11. May 18 11. May 18 -10,000 ₹554.06 ₹-5,540,638
11. May 18 Sell Govindarajan Jayaraj Individual 10. May 18 10. May 18 -2,000 ₹560.66 ₹-1,121,330
08. May 18 Sell Govindarajan Jayaraj Individual 07. May 18 07. May 18 -2,000 ₹518.36 ₹-1,036,723
X
Management checks
We assess Mahindra Logistics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Mahindra Logistics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Have Insiders Been Selling Mahindra Logistics Limited (NSE:MAHLOG) Shares This Year?

So shareholders might well want to know whether insiders have been buying or selling shares in Mahindra Logistics Limited (NSE:MAHLOG). … While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. … Mahindra Logistics insiders didn't buy any shares over the last year

Simply Wall St -

How Many Mahindra Logistics Limited (NSE:MAHLOG) Shares Do Institutions Own?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that have been privatized tend to have low insider ownership. … Mahindra Logistics is not a large company by global standards.

Simply Wall St -

Mahindra Logistics Limited (NSE:MAHLOG): The Best Of Both Worlds

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Mahindra Logistics Limited (NSE:MAHLOG), it

Simply Wall St -

Mahindra Logistics Limited (NSE:MAHLOG) Is Employing Capital Very Effectively

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Want To Invest In Mahindra Logistics Limited (NSE:MAHLOG)? Here's How It Performed Lately

For investors with a long-term horizon, assessing earnings trend over time and against industry benchmarks is more valuable than looking at a single earnings announcement in one point in time. … Investors may find my commentary, albeit very high-level and brief, on Mahindra Logistics Limited (NSE:MAHLOG) useful as an attempt to give more color around how Mahindra Logistics is currently performing. … Were MAHLOG's earnings stronger than its past performances and the industry.

Simply Wall St -

Have Insiders Been Selling Mahindra Logistics Limited (NSE:MAHLOG) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Mahindra Logistics Limited (NSE:MAHLOG). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'? … In the last twelve months, the biggest single sale by an insider was when Chief Executive Officer Pirojshaw Sarkari sold ₹18m worth of shares at a price of ₹594 per share

Simply Wall St -

Could Mahindra Logistics Limited's (NSE:MAHLOG) Investor Composition Influence The Stock Price?

Every investor in Mahindra Logistics Limited (NSE:MAHLOG) should be aware of the most powerful shareholder groups. … With a market capitalization of ₹38b, Mahindra Logistics is a small cap stock, so it might not be well known by many institutional investors. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Is Mahindra Logistics Limited's (NSE:MAHLOG) ROE Of 18% Impressive?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows Mahindra Logistics has a return on equity of 18% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Mahindra Logistics Limited (NSE:MAHLOG): Why Return On Capital Employed Is Important

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … Therefore, looking at how efficiently Mahindra Logistics is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

Simply Wall St -

Is Mahindra Logistics Limited (NSE:MAHLOG) A Strong Transport Bet?

Mahindra Logistics Limited (NSE:MAHLOG), a ₹39.7b. … operates in the logistics industry … Since vendors have to ship orders fast, the demand for air cargo services has gone up considerably, due to its ability to move goods from one location to another within a short span of time

Simply Wall St -

Company Info

Description

Mahindra Logistics Limited provides third party logistic services in India and internationally. It operates through two segments, Supply Chain Management (SCM) and People Logistics Solutions (PTS). The SCM segment offers customized and end-to-end logistics solutions and services, including transportation and distribution, warehousing, in-factory logistics, and value added services. The segment serves domestic and multinational companies operating in various industry verticals, including automobile, engineering, consumer goods, pharmaceuticals, e-commerce, and bulk. The PTS segment provides technology-enabled people transportation solutions and services for domestic and multinational companies operating in the information technology, information technology-enabled service, business process outsourcing, financial services, consulting, and manufacturing industries. The company also provides freight forwarding services for exports and imports, customs brokerage operations, project cargo services, and charters. Mahindra Logistics Limited was incorporated in 2007 and is headquartered in Mumbai, India. Mahindra Logistics Limited is a subsidiary of Mahindra & Mahindra Limited.

Details
Name: Mahindra Logistics Limited
MAHLOG
Exchange: NSEI
Founded: 2007
₹38,660,341,812
71,447,684
Website: http://www.mahindralogistics.com
Address: Mahindra Logistics Limited
Techniplex 1, Techniplex Complex,
1A & 1B, 4th Floor,
Mumbai,
Maharashtra, 400062,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 540768 Equity Shares Mumbai Stock Exchange IN INR 10. Nov 2017
NSEI MAHLOG Equity Shares National Stock Exchange of India IN INR 10. Nov 2017
Number of employees
Current staff
Staff numbers
4,844
Mahindra Logistics employees.
Industry
Air Freight and Logistics
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 12:56
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/15
Last earnings filing: 2019/01/30
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.