Price Target Changed • Apr 29
Price target increased by 13% to ₹427 Up from ₹379, the current price target is an average from 7 analysts. New target price is approximately in line with last closing price of ₹409. Stock is up 35% over the past year. The company is forecast to post earnings per share of ₹11.66 for next year compared to ₹0.25 last year. Buy Or Sell Opportunity • Apr 26
Now 26% undervalued Over the last 90 days, the stock has risen 40% to ₹406. The fair value is estimated to be ₹550, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings are also forecast to grow by 59% per annum over the same time period. Declared Dividend • Apr 25
Dividend of ₹2.50 announced Dividend of ₹2.50 is the same as last year. Ex-date: 10th July 2026 Payment date: 19th August 2026 Dividend yield will be 0.6%, which is lower than the industry average of 0.8%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (22% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 8 years and payments have been stable during that time. Reported Earnings • Apr 24
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: ₹0.25 (up from ₹4.97 loss in FY 2025). Revenue: ₹70.2b (up 15% from FY 2025). Net income: ₹22.9m (up ₹381.4m from FY 2025). Profit margin: 0% (up from net loss in FY 2025). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 25%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Mar 27
Mahindra Logistics Limited to Report Q4, 2026 Results on Apr 23, 2026 Mahindra Logistics Limited announced that they will report Q4, 2026 results on Apr 23, 2026 Reported Earnings • Jan 28
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: ₹0.33 (up from ₹1.25 loss in 3Q 2025). Revenue: ₹19.0b (up 19% from 3Q 2025). Net income: ₹32.5m (up ₹122.8m from 3Q 2025). Profit margin: 0.2% (up from net loss in 3Q 2025). Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) missed analyst estimates by 5.7%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Dec 26
Mahindra Logistics Limited to Report Q3, 2026 Results on Jan 27, 2026 Mahindra Logistics Limited announced that they will report Q3, 2026 results on Jan 27, 2026 Price Target Changed • Nov 08
Price target increased by 8.1% to ₹389 Up from ₹360, the current price target is an average from 9 analysts. New target price is 14% above last closing price of ₹342. Stock is down 14% over the past year. The company is forecast to post earnings per share of ₹3.10 next year compared to a net loss per share of ₹4.97 last year. Buy Or Sell Opportunity • Nov 01
Now 22% undervalued Over the last 90 days, the stock has risen 8.2% to ₹354. The fair value is estimated to be ₹454, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Oct 28
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: ₹1.20 loss per share (improved from ₹1.50 loss in 2Q 2025). Revenue: ₹16.9b (up 11% from 2Q 2025). Net loss: ₹103.5m (loss narrowed 3.7% from 2Q 2025). Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Announcement • Oct 01
Mahindra Logistics Limited to Report Q2, 2026 Results on Oct 27, 2025 Mahindra Logistics Limited announced that they will report Q2, 2026 results on Oct 27, 2025 New Risk • Aug 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 38% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Shareholders have been substantially diluted in the past year (38% increase in shares outstanding). Minor Risk Paying a dividend despite being loss-making. Price Target Changed • Jul 24
Price target increased by 7.1% to ₹386 Up from ₹360, the current price target is an average from 10 analysts. New target price is 7.9% above last closing price of ₹358. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₹5.43 next year compared to a net loss per share of ₹4.97 last year. Announcement • Jul 22
Mahindra Logistics Limited Approves the Appointment of Hemant Sikka as Director Mahindra Logistics Limited held its AGM on July 21, 2025 approved the appointment of Mr. Hemant Sikka (DIN: 00922281) as a Director of the Company. Announcement • Jul 13
Mahindra Logistics Limited to Report Q1, 2026 Results on Jul 21, 2025 Mahindra Logistics Limited announced that they will report Q1, 2026 results on Jul 21, 2025 Upcoming Dividend • Jul 04
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 20 August 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (1.3%). Reported Earnings • Jun 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ₹4.97 loss per share (improved from ₹7.60 loss in FY 2024). Revenue: ₹61.0b (up 11% from FY 2024). Net loss: ₹358.5m (loss narrowed 35% from FY 2024). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. MD, CEO & Director Hemant Sikka was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 23
Dividend of ₹2.50 announced Dividend of ₹2.50 is the same as last year. Ex-date: 11th July 2025 Payment date: 20th August 2025 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (11% cash payout ratio). The dividend has increased by an average of 7.6% per year over the past 7 years and payments have been stable during that time. Announcement • Apr 22
Mahindra Logistics Limited Announces CEO Changes Mahindra Group announced senior leadership appointments across businesses. Hemant Sikka, who is currently President of the Farm Equipment Sector (FES), has been appointed as the MD & CEO of Mahindra Logistics (MLL) by the MLL Board. MLL has tremendous potential for growth and value creation and are committed to realising this potential. Hemant is one of top leaders and brings with him a powerful combination of strategic skills, operational rigor,customer centricity and people leadership capabilities. The current CEO, Ram Swaminathan has decided to step down to pursue other professional interests. Reported Earnings • Apr 22
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ₹4.97 loss per share (improved from ₹7.60 loss in FY 2024). Revenue: ₹61.2b (up 11% from FY 2024). Net loss: ₹358.5m (loss narrowed 35% from FY 2024). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Announcement • Apr 13
Mahindra Logistics Limited to Report Q4, 2025 Results on Apr 21, 2025 Mahindra Logistics Limited announced that they will report Q4, 2025 results on Apr 21, 2025 Price Target Changed • Jan 29
Price target decreased by 11% to ₹398 Down from ₹447, the current price target is an average from 11 analysts. New target price is 11% above last closing price of ₹360. Stock is down 13% over the past year. The company is forecast to post a net loss per share of ₹3.63 next year compared to a net loss per share of ₹7.60 last year. Reported Earnings • Jan 28
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: ₹1.25 loss per share (improved from ₹2.42 loss in 3Q 2024). Revenue: ₹16.0b (up 14% from 3Q 2024). Net loss: ₹90.3m (loss narrowed 48% from 3Q 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Announcement • Jan 18
Mahindra Logistics Limited to Report Q3, 2025 Results on Jan 27, 2025 Mahindra Logistics Limited announced that they will report Q3, 2025 results on Jan 27, 2025 Price Target Changed • Oct 25
Price target decreased by 7.4% to ₹447 Down from ₹483, the current price target is an average from 11 analysts. New target price is 9.2% above last closing price of ₹409. Stock is up 16% over the past year. The company is forecast to post earnings per share of ₹2.48 next year compared to a net loss per share of ₹7.60 last year. Reported Earnings • Oct 22
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: ₹1.50 loss per share (improved from ₹2.21 loss in 2Q 2024). Revenue: ₹15.2b (up 12% from 2Q 2024). Net loss: ₹107.5m (loss narrowed 33% from 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Oct 11
Mahindra Logistics Limited to Report First Half, 2025 Results on Oct 21, 2024 Mahindra Logistics Limited announced that they will report first half, 2025 results on Oct 21, 2024 Announcement • Aug 29
Mahindra Logistics Limited Announces Resignation of Vishal Barnabas as Head Consumer and Manufacturing Business, Effective November 30, 2024 Mahindra Logistics Limited announced that Mr. Vishal Barnabas, Head Consumer and Manufacturing Business and Senior Management Personnel (SMP) of the Company, as per Regulation 16(1)(d) of SEBI Listing Regulations, has resigned from the services of the Company on 29 August 2024, on account of personal commitments. The Company shall relieve him from the services w.e.f. close of business hours of 30 November 2024. Announcement • Jul 23
Mahindra Logistics Limited Declares Final Dividend for the Financial Year Ended 31 March 2024 Mahindra Logistics Limited at its AGM held on July 22, 2024, declared final dividend (INR 2.50 per equity share of face value
of INR 10 each fully paid) on the equity shares of the Company for the financial year ended 31 March 2024. Announcement • Jul 22
Mahindra Logistics Limited Approves Executive Changes Mahindra Logistics Limited announced that at its board meeting held on 22 July 2024, approved the following changes in the Senior Management Personnel (SMP) of the Company: resignation of Mr. Edwin Lobo, Head - Human Resource and Administration and SMP of the company, as per Regulation 16(1)(d) of SEBI Listing Regulations, on account of personal commitments, effective from the close of business hours of 30 September 2024; appointment of Mr. Sanjay Gawde, as SMP and Head - Human Resource and Administration of the company with effect from 1 October 2024. Mr. Sanjay Gawde is a seasoned HR professional, with 22+ years of well-rounded experience. He has experience in Rewards, Talent Management, Industrial Relations, HR Operations and across domains like ITeS, Manufacturing, Consulting and Financial Services. Mr. Sanjay Gawde has held several leadership position with Mahindra and Mahindra Limited, John Deere etc as Head of Group Talent Management and Group Rewards. Mr. Sanjay Gawde is not related to any director of the company. Announcement • Jul 13
Mahindra Logistics Limited to Report Q1, 2025 Results on Jul 22, 2024 Mahindra Logistics Limited announced that they will report Q1, 2025 results on Jul 22, 2024 Upcoming Dividend • Jul 05
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 12 July 2024. Payment date: 21 August 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (0.8%). Reported Earnings • Jun 28
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: ₹7.60 loss per share (down from ₹3.65 profit in FY 2023). Revenue: ₹55.1b (up 7.4% from FY 2023). Net loss: ₹547.4m (down 308% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Price Target Changed • May 28
Price target increased by 7.1% to ₹468 Up from ₹437, the current price target is an average from 12 analysts. New target price is 8.2% above last closing price of ₹432. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₹5.94 next year compared to a net loss per share of ₹7.60 last year. Recent Insider Transactions • May 03
Insider recently sold ₹1.2m worth of stock On the 29th of April, Lovinder Saggu sold around 3k shares on-market at roughly ₹479 per share. This transaction amounted to 36% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹5.0m more than they bought in the last 12 months. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. Non-Executive Independent Director Ameet Hariani was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 23
Mahindra Logistics Limited, Annual General Meeting, Jul 22, 2024 Mahindra Logistics Limited, Annual General Meeting, Jul 22, 2024. Reported Earnings • Apr 23
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: ₹7.60 loss per share (down from ₹3.65 profit in FY 2023). Revenue: ₹55.2b (up 7.7% from FY 2023). Net loss: ₹547.4m (down 308% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Apr 23
Mahindra Logistics Limited Recommends Final Dividend for the Financial Year Ended 31 March 2024 Mahindra Logistics Limited recommended Final Dividend of INR 2.50 per equity share of the face value of INR 10/- each (25%) for the financial year ended 31 March 2024. The dividend payout is subject to the Members' approval at the ensuing 17th Annual General Meeting ("AGM") of the Company. The final dividend on equity shares for the financial year ended 31 March 2024, as recommended by the Board of Directors and if approved and declared at the ensuing AGM, will be paid/dispatched by the Company in permitted modes after 23 July 2024 within the stipulated timelines to those Shareholders or their mandates: whose names appear as Beneficial Owners as at the end of the business hours on Friday, 12 July 2024 in the list of Beneficial Owners to be furnished by National Securities Depository Limited and Central Depository Services (India) Limited in respect of the shares held in dematerialised form; and whose names appear as Members in the Register of Members of the Company on 12 July 2024 in respect of the shares held in the physical form, after giving effect to valid request(s), if any received for transmission/transposition of shares. Reported Earnings • Jan 30
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: ₹2.42 loss per share (down from ₹0.19 profit in 3Q 2023). Revenue: ₹14.0b (up 5.3% from 3Q 2023). Net loss: ₹174.1m (down ₹188.0m from profit in 3Q 2023). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Jan 19
Mahindra Logistics Limited to Report Q3, 2024 Results on Jan 29, 2024 Mahindra Logistics Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Announcement • Jan 06
Mahindra Logistics Limited Announces Resignation of Ankur Singhai, Head - Auto and Farm Business Mahindra Logistics Limited announced that Mr. Ankur Singhai, Head - Auto and Farm Business and Senior Management Personnel (SMP) of the Company, has resigned from the services of the Company on 5 January 2024, on account of personal commitments. The Company has relieved him from the services with effect from close of business hours of 5 January 2024. Announcement • Nov 15
Mahindra Logistics Limited Appoints Swayantani Ghosh as Chief Sustainability & CSR Officer, Effective 16 November 2023 The Board of Directors of Mahindra Logistics Limited on 14 November 2023 approved the appointment of Ms. Swayantani Ghosh as Chief Sustainability & CSR Officer and Senior Management Personnel with effect from 16 November 2023. Ms. Swayantani Ghosh has 18 years of experience in strategizing sustainability and CSR initiatives, ESG reporting, stakeholder communications and change management in relation to non- financial parameters: Environmental, Social, and Governance. Ms. Swayantani Ghosh has led multi-country global sustainability initiatives in India, USA, UK, EMEA & APAC regions. In her previous stint at Technip Energies, she spearheaded the ESG and CSR team globally and was responsible for driving ESG materiality assessment with the participation internal and external stakeholders globally. She has also acted as an advisor to the Board of Directors on ESG risk mapping, performance, trends, and research. Prior to Technip Energies she has been associated with companies like TATA AIA Life Insurance and Rediff.com as Head Corporate Communications, PR, Marketing Communications and Media Relations. Ms. Swayantani Ghosh is an Environmental Engineer and has done her master's in business administration and marketing. She is a Certified in SA 8000 for Internal Social Audit from BSI. Reported Earnings • Oct 24
Second quarter 2024 earnings: EPS misses analyst expectations Second quarter 2024 results: ₹2.21 loss per share (down from ₹1.69 profit in 2Q 2023). Revenue: ₹13.7b (up 3.4% from 2Q 2023). Net loss: ₹159.3m (down 231% from profit in 2Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Oct 13
Mahindra Logistics Limited to Report Q2, 2024 Results on Oct 23, 2023 Mahindra Logistics Limited announced that they will report Q2, 2024 results on Oct 23, 2023 Major Estimate Revision • Sep 27
Consensus EPS estimates fall by 11% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from ₹5.86 to ₹5.21 per share. Revenue forecast steady at ₹57.8b. Net income forecast to grow 1,161% next year vs 20% growth forecast for Logistics industry in India. Consensus price target of ₹411 unchanged from last update. Share price fell 3.3% to ₹389 over the past week. Announcement • Aug 10
Mahindra Logistics Limited Announces Executive Changes Mahindra Logistics Limited announced that the Board of Directors of the Company noted and approved the following changes in the Senior Management Personnel ("SMP") of the Company: As part of Mahindra group's good people practices of talent movement, Mr. Prasanna Pahade, existing SMP and Head - Auto and Farm Business of the Company will be joining MLL Express Services Private Limited, wholly-owned subsidiary ("MESPL") as Chief Executive Officer (Designate) with effect from 1 September 2023. Consequently Mr. Prasanna Pahade will cease to be SMP and Head - Auto and Farm Business of the Company with effect from close of 31 August 2023, on account of his movement within the group. Approved elevation and appointment of Mr. Sajit Siddharthan, as SMP and Head - Ecommerce 3PL business of the Company with effect from 1 September 2023. New Risk • Jul 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (0.08% net profit margin). Reported Earnings • Jul 25
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: ₹1.19 loss per share (down from ₹1.88 profit in 1Q 2023). Revenue: ₹12.9b (up 7.8% from 1Q 2023). Net loss: ₹85.5m (down 163% from profit in 1Q 2023). Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 14
Mahindra Logistics Limited to Report Q1, 2024 Results on Jul 24, 2023 Mahindra Logistics Limited announced that they will report Q1, 2024 results on Jul 24, 2023 Upcoming Dividend • Jul 07
Upcoming dividend of ₹2.50 per share at 0.7% yield Eligible shareholders must have bought the stock before 14 July 2023. Payment date: 23 August 2023. Payout ratio is a comfortable 68% and this is well supported by cash flows. Trailing yield: 0.7%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (0.9%). Recent Insider Transactions • May 24
Senior Vice President of Sales recently sold ₹1.2m worth of stock On the 15th of May, Sreeram Venkateswaran sold around 3k shares on-market at roughly ₹368 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹7.2m more than they bought in the last 12 months. Price Target Changed • Apr 30
Price target decreased by 11% to ₹408 Down from ₹460, the current price target is an average from 9 analysts. New target price is 10% above last closing price of ₹370. Stock is down 28% over the past year. The company is forecast to post earnings per share of ₹7.90 for next year compared to ₹3.65 last year. Reported Earnings • Apr 25
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: ₹3.65 (down from ₹5.16 in FY 2022). Revenue: ₹51.4b (up 26% from FY 2022). Net income: ₹262.8m (down 29% from FY 2022). Profit margin: 0.5% (down from 0.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 11% per year. Major Estimate Revision • Feb 08
Consensus EPS estimates fall by 52% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from ₹9.73 to ₹4.68 per share. Revenue forecast steady at ₹52.5b. Net income forecast to grow 27% next year vs 0.8% decline forecast for Logistics industry in India. Consensus price target down from ₹569 to ₹519. Share price fell 11% to ₹415 over the past week. Price Target Changed • Feb 03
Price target decreased by 9.6% to ₹523 Down from ₹578, the current price target is an average from 10 analysts. New target price is 17% above last closing price of ₹446. Stock is down 22% over the past year. The company is forecast to post earnings per share of ₹7.93 for next year compared to ₹5.16 last year. Reported Earnings • Feb 03
Third quarter 2023 earnings: EPS misses analyst expectations Third quarter 2023 results: EPS: ₹0.19 (down from ₹0.79 in 3Q 2022). Revenue: ₹13.4b (up 19% from 3Q 2022). Net income: ₹13.9m (down 76% from 3Q 2022). Profit margin: 0.1% (down from 0.5% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 91%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. Announcement • Jan 20
Mahindra Logistics Limited to Report Q3, 2023 Results on Feb 01, 2023 Mahindra Logistics Limited announced that they will report Q3, 2023 results at 4:00 PM, Indian Standard Time on Feb 01, 2023 Recent Insider Transactions • Nov 27
Insider recently sold ₹2.9m worth of stock On the 24th of November, Kishore Fiske sold around 6k shares on-market at roughly ₹501 per share. This transaction amounted to 45% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.1m. Insiders have been net sellers, collectively disposing of ₹6.7m more than they bought in the last 12 months. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non-Executive Independent Director Ameet Hariani was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: ₹1.69 (vs ₹1.37 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.69 (up from ₹1.37 in 2Q 2022). Revenue: ₹13.3b (up 31% from 2Q 2022). Net income: ₹121.9m (up 24% from 2Q 2022). Profit margin: 0.9% (down from 1.0% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Logistics industry in India. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Buying Opportunity • Oct 10
Now 20% undervalued Over the last 90 days, the stock is up 7.1%. The fair value is estimated to be ₹659, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 44% in 2 years. Earnings is forecast to grow by 183% in the next 2 years. Recent Insider Transactions • Oct 05
Insider recently sold ₹3.1m worth of stock On the 30th of September, Sushil Rathi sold around 6k shares on-market at roughly ₹519 per share. This transaction amounted to 3.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹13m more than they bought in the last 12 months. Buying Opportunity • Sep 15
Now 20% undervalued Over the last 90 days, the stock is up 27%. The fair value is estimated to be ₹672, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 44% in 2 years. Earnings is forecast to grow by 183% in the next 2 years. Upcoming Dividend • Jul 14
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 28 August 2022. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (1.0%). Reported Earnings • Jul 07
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹5.16 (up from ₹4.19 in FY 2021). Revenue: ₹40.8b (up 25% from FY 2021). Net income: ₹370.7m (up 24% from FY 2021). Profit margin: 0.9% (in line with FY 2021). Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 1.6%. Over the next year, revenue is forecast to grow 22%, compared to a 26% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Buying Opportunity • Jun 10
Now 21% undervalued Over the last 90 days, the stock is up 9.5%. The fair value is estimated to be ₹595, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 31%. Revenue is forecast to grow by 45% in 2 years. Earnings is forecast to grow by 282% in the next 2 years.