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Mahindra Logistics Q4 Review - Margin Reverts To Normal, Expect Further Uptick In FY23: ICICI Direct

Mahindra Logistics Q4 Review - Margin Reverts To Normal, Expect Further Uptick In FY23: ICICI Direct

<div class="paragraphs"><p>Mahindra Logistics fleet. (Source: Company website)</p></div>
Mahindra Logistics fleet. (Source: Company website)

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ICICI Direct Report

Mahindra Logistics Ltd. is an end-to-end third-party logistics solution provider, from performing milk run to in-factory logistics, warehousing to first mile and last mile logistics. It serves over 400 customers via its two business segment: supply chain management, 96% of revenues and enterprise mobility.

The company's Q4 FY22 results were better than our estimates on all fronts.

Revenues grew 10% YoY to Rs 1073 crore, led by better-than-expected supply chain management segment performance.

Ebitda grew 19% to Rs 55 crore with margins at 5.1% (versus expected 4.3%).

However, Mahindra Logistics' profit after tax was flat at Rs 12 crore as strong operating performance was impacted by higher interest and depreciation.

Click on the attachment to read the full report:

ICICI Direct Mahindra Logistics Q4FY22 Update.pdf

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