About Mahindra Logistics Limited
Data last updated:
Mahindra Logistics Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Mahindra And Mahindra Limited. It operates in the 3pl (third party logistics) services segment of the transport and logistics sector. It was incorporated on 24 August 2007 and has been in existence for over 19 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L63000MH2007PLC173466. Its GSTIN is 27AAFCM2530H1ZO (Maharashtra). The company holds 26 GST registrations, of which 25 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 540768 and NSE: MAHLOG.
The company has an authorised share capital of ₹200 Cr and a paid-up capital of ₹99.28 Cr. It is led by directors including Hemant Sikka (Managing Director) and Malvika Sahni Sinha.
Its last annual general meeting (AGM) was held on 20 July 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Mahindra Towers P.K. Kurne Chowk Worli, Mumbai, Maharashtra, India – 400018.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹6,999.3 Cr, a growth of 14.7% compared to the previous year. For the same year it recorded a net profit of ₹3.68 Cr (net margin 0.1%) and EBITDA of ₹368.92 Cr (EBITDA margin 5.3%). The net worth stands at ₹1,174.78 Cr (up 168.3% YoY). Total assets are valued at ₹1,872.88 Cr (up 38% YoY).
The company has about 4,005 employees on its provident fund (EPFO) records. Its group structure includes 7 subsidiaries.
The company is associated with 7 brands, including Rivigo, Mahindra, Meru, LORDS, Whizzard and others. As per MCA filings, the company has satisfied charges of ₹95 Cr on record. Court records list 388 cases involving the company, including 64 filed by the company and 324 filed against it; 74 cases are pending. The company has 24 deals on record (12 market trades, 6 funding rounds, 5 secondary share transfers), with disclosed funding of ₹161.91 Cr; the latest was in January 2026. The company has 26 MSME Form 1 returns on record between 2012 and 2023, listing 905 overdue payments to 81 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mahindralogistics.com.
Company details
CIN history
Mahindra Logistics has one previous CIN (Corporate Identification Number): U63000MH2007PLC173466. The current CIN is L63000MH2007PLC173466, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L63000MH2007PLC173466 | Current |
| U63000MH2007PLC173466 | Previous |
Contact details
Mahindra Logistics Limited's registered office is in Mumbai, Maharashtra. Its website is mahindralogistics.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressMahindra Towers P.K. Kurne Chowk Worli, Mumbai, Maharashtra, India – 400018
- IndustryTransport and Logistics, 3PL (Third Party Logistics) Services
To see the full contact details of Mahindra Logistics Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Mahindra Logistics operates multiple associated brands including Rivigo, Mahindra, and Meru. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Online platform offering B2B logistics and trucking services | rivigo.com | |
| Diversified operations span automotive, agriculture, and financial services. | mahindra.com | |
| Ride-hailing services are facilitated via an app-based platform. | meru.in | |
| Air and sea freight forwarding services are provided by LORDS. | lordslogistics.com | |
| Last-mile delivery services for e-commerce are provided intracity. | whizzard.in | |
| Integrated supply chain and mobility solutions are provided globally. | mahindralogistics.com | |
| Venture capital firm backed by Mahindra group | mahindrapartners.com |
Business activity
The main business activities of Mahindra Logistics are transportation and storage and transport and storage. In detail, this covers land transport and transport via pipelines and warehousing and storage. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transportation and storage | 49 | Land transport and transport via pipelines | |
| H | Transport and storage | H6 | Warehousing and storage |
To see the full business activity and turnover split of Mahindra Logistics Limited, buy the company report.
Financials of Mahindra Logistics Limited
FY 2025-26 filings availableMahindra Logistics Limited reported revenue of ₹6,999.3 Cr (up 14.7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 6,999 | 6,105 | 5,506 | 5,128 | 4,141 | 3,264 | 3,471 |
| Revenue growth | +14.7% | +10.9% | +7.4% | +23.9% | +26.9% | -6.0% | - |
| EBITDA | 369 | 284 | 229 | 260 | 184 | 131 | 158 |
| EBITDA margin | +5.3% | +4.7% | +4.2% | +5.1% | +4.5% | +4.0% | +4.6% |
| Profit before tax | 33.16 | (7.67) | (26.39) | 34.54 | 26.31 | 39.20 | 81.19 |
| Net profit | 3.68 | (40.53) | (56.57) | 26.32 | 17.51 | 32.22 | 55.26 |
| Net profit margin | +0.1% | -0.7% | -1.0% | +0.5% | +0.4% | +1.0% | +1.6% |
| EPS (₹) | 0.23 | (4.97) | (7.60) | 3.65 | 2.44 | 4.19 | 7.70 |
| Balance sheet | |||||||
| Total assets | 1,873 | 1,358 | 1,277 | 1,427 | 980 | 856 | 767 |
| Net worth | 1,175 | 438 | 492 | 562 | 546 | 568 | 545 |
| Total debt | 650 | 869 | 739 | 834 | 402 | 269 | 201 |
| Cash & bank | 200 | 75.97 | 71.07 | 126 | 134 | 198 | 99.53 |
| Net working capital | 283 | 156 | 134 | 189 | 139 | 318 | 330 |
| Cash flow | |||||||
| Cash from operations | 254 | 343 | 227 | 119 | 191 | 294 | 85.38 |
| Cash from investing | (316) | (155) | (52.55) | (310) | (140) | (108) | 35.51 |
| Cash from financing | 105 | (148) | (276) | 183 | (117) | (87.49) | (76.31) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,095 | 2,003 | 1,791 | 1,898 | 1,685 | 1,625 | 1,570 | 1,594 |
| Revenue growth (YoY) | +24.3% | +23.3% | +14.1% | +19.1% | +10.8% | +14.4% | - | - |
| Other income | 8.42 | 9.83 | 3.86 | 5.26 | 2.94 | 5.07 | 2.17 | 6.25 |
| EBITDA | 124 | 115 | 112 | 95.39 | 85.04 | 76.21 | 77.70 | 73.66 |
| EBITDA margin | +5.9% | +5.8% | +6.3% | +5.0% | +5.0% | +4.7% | +5.0% | +4.6% |
| Depreciation | 76.58 | 72.31 | 69.89 | 71.69 | 71.72 | 64.57 | 58.39 | 59.01 |
| Interest | 15.44 | 13.83 | 14.30 | 16.52 | 21.67 | 22.53 | 20.55 | 22.05 |
| Profit before tax | 40.30 | 39.06 | 31.95 | 12.44 | (5.41) | (5.82) | 0.93 | (1.15) |
| Tax | 11.43 | 11.23 | 9.59 | 6.43 | 2.95 | 3.62 | 6.24 | 6.11 |
| Net profit | 28.87 | 27.83 | 22.36 | 6.01 | (8.36) | (9.44) | (5.31) | (7.26) |
| EPS (₹) | 2.64 | 2.55 | 2.03 | 0.33 | (1.20) | (1.44) | (0.93) | (1.25) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 5,672 | 5,013 | 4,530 | 4,459 | 3,631 | 2,959 | 3,261 |
| Revenue growth | +13.2% | +10.7% | +1.6% | +22.8% | +22.7% | -9.3% | - |
| EBITDA | 348 | 297 | 292 | 276 | 180 | 117 | 148 |
| EBITDA margin | +6.1% | +5.9% | +6.5% | +6.2% | +5.0% | +4.0% | +4.5% |
| Profit before tax | 58.20 | 58.18 | 85.55 | 80.44 | 32.69 | 32.64 | 80.69 |
| Net profit | 47.54 | 43.68 | 62.42 | 62.63 | 24.49 | 27.14 | 55.28 |
| Net profit margin | +0.8% | +0.9% | +1.4% | +1.4% | +0.7% | +0.9% | +1.7% |
| EPS (₹) | 4.34 | 6.03 | 8.60 | 8.96 | 3.40 | 3.35 | 7.71 |
| Balance sheet | |||||||
| Total assets | 2,047 | 1,275 | 1,158 | 1,202 | 951 | 819 | 725 |
| Net worth | 1,476 | 699 | 675 | 628 | 575 | 565 | 545 |
| Total debt | 559 | 560 | 464 | 555 | 361 | 240 | 165 |
| Cash & bank | 152 | 43.39 | 15.33 | 115 | 131 | 197 | 99.28 |
| Net working capital | 153 | 51.04 | 59.71 | 120 | 134 | 280 | 297 |
| Cash flow | |||||||
| Cash from operations | 256 | 382 | 249 | 146 | 204 | 281 | 80.40 |
| Cash from investing | (601) | (226) | (103) | (148) | (150) | (105) | 35.15 |
| Cash from financing | 364 | (127) | (245) | (14.34) | (121) | (77.23) | (71.11) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,714 | 1,655 | 1,414 | 1,545 | 1,367 | 1,346 | 1,293 | 1,327 |
| Revenue growth (YoY) | +25.4% | +23.0% | +9.3% | +16.5% | +10.6% | +16.4% | - | - |
| Other income | 20.09 | 8.29 | 3.12 | 3.92 | 2.50 | 1.96 | 1.43 | 4.41 |
| Total expenses | 1,608 | 1,550 | 1,315 | 1,457 | 1,285 | 1,267 | 1,213 | 1,250 |
| EBITDA | 106 | 105 | 99.08 | 88.21 | 82.16 | 78.73 | 79.70 | 76.92 |
| EBITDA margin | +6.2% | +6.3% | +7.0% | +5.7% | +6.0% | +5.8% | +6.2% | +5.8% |
| Depreciation | 65.91 | 62.55 | 61.14 | 62.47 | 62.75 | 55.99 | 49.99 | 50.91 |
| Interest | 13.02 | 11.58 | 12.02 | 14.30 | 16.79 | 16.02 | 13.68 | 15.05 |
| Profit before tax | 46.84 | 38.78 | 29.04 | 15.36 | 5.12 | 8.68 | 17.46 | 15.37 |
| Tax | 9.21 | 9.78 | 7.66 | 3.96 | 1.33 | 2.24 | 4.34 | 3.75 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,095 | 2,003 | 1,791 | 1,898 | 1,685 | 1,625 | 1,570 | 1,594 |
| Revenue growth (YoY) | +24.3% | +23.3% | +14.1% | +19.1% | +10.8% | +14.4% | - | - |
| Other income | 8.42 | 9.83 | 3.86 | 5.26 | 2.94 | 5.07 | 2.17 | 6.25 |
| EBITDA | 124 | 115 | 112 | 95.39 | 85.04 | 76.21 | 77.70 | 73.66 |
| EBITDA margin | +5.9% | +5.8% | +6.3% | +5.0% | +5.0% | +4.7% | +5.0% | +4.6% |
| Depreciation | 76.58 | 72.31 | 69.89 | 71.69 | 71.72 | 64.57 | 58.39 | 59.01 |
| Interest | 15.44 | 13.83 | 14.30 | 16.52 | 21.67 | 22.53 | 20.55 | 22.05 |
| Profit before tax | 40.30 | 39.06 | 31.95 | 12.44 | (5.41) | (5.82) | 0.93 | (1.15) |
| Tax | 11.43 | 11.23 | 9.59 | 6.43 | 2.95 | 3.62 | 6.24 | 6.11 |
| Net profit | 28.87 | 27.83 | 22.36 | 6.01 | (8.36) | (9.44) | (5.31) | (7.26) |
| EPS (₹) | 2.64 | 2.55 | 2.03 | 0.33 | (1.20) | (1.44) | (0.93) | (1.25) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 6,999 | 6,105 | 5,506 | 5,128 | 4,141 | 3,264 | 3,471 |
| Revenue growth | +14.7% | +10.9% | +7.4% | +23.9% | +26.9% | -6.0% | - |
| Other income | 17.13 | 15.82 | 21.72 | 15.85 | 13.58 | 17.47 | 13.98 |
| Total expenses | 6,630 | 5,821 | 5,277 | 4,869 | 3,956 | 3,132 | 3,313 |
| Employee cost | 427 | 404 | 405 | 355 | 315 | 296 | 307 |
| EBITDA | 369 | 284 | 229 | 260 | 184 | 131 | 158 |
| EBITDA margin | +5.3% | +4.7% | +4.2% | +5.1% | +4.5% | +4.0% | +4.6% |
| Depreciation | 278 | 226 | 209 | 190 | 142 | 89.65 | 73.43 |
| Interest | 75.02 | 81.21 | 68.16 | 51.57 | 29.82 | 20.09 | 17.63 |
| Profit before tax | 33.16 | (7.67) | (26.39) | 34.54 | 26.31 | 39.20 | 81.19 |
| Tax | 22.59 | 22.33 | 25.68 | 7.12 | 11.25 | 10.02 | 25.74 |
| Net profit | 3.68 | (40.53) | (56.57) | 26.32 | 17.51 | 32.22 | 55.26 |
| Net profit margin | +0.1% | -0.7% | -1.0% | +0.5% | +0.4% | +1.0% | +1.6% |
| EPS (₹) | 0.23 | (4.97) | (7.60) | 3.65 | 2.44 | 4.19 | 7.70 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 99.22 | 72.13 | 72.04 | 71.98 | 71.87 | 71.67 | 71.54 |
| Reserves & surplus | 1,076 | 366 | 420 | 490 | 475 | 496 | 473 |
| Shareholders' funds (net worth) | 1,175 | 438 | 492 | 562 | 546 | 568 | 545 |
| Minority interest | 24.48 | 16.35 | 11.77 | (1.37) | 0.28 | 2.77 | 5.43 |
| Secured loans | 43.53 | 169 | 242 | 236 | 28.98 | 21.48 | 29.86 |
| Unsecured loans | 606 | 700 | 497 | 598 | 373 | 248 | 171 |
| Total debt | 650 | 869 | 739 | 834 | 402 | 269 | 201 |
| Total liabilities | 1,873 | 1,358 | 1,277 | 1,427 | 980 | 856 | 767 |
| Assets | |||||||
| Gross block | 1,964 | 1,653 | 1,433 | 1,316 | 856 | 571 | 374 |
| Net block | 1,147 | 930 | 836 | 830 | 501 | 361 | 231 |
| Capital work in progress | 24.32 | 45.76 | 16.24 | 3.78 | 13.82 | 3.06 | 15.04 |
| Investments | 125 | 22.63 | 5.86 | 99.87 | 118 | 55.07 | 3.14 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.41 | 1.43 | 0.00 | 0.00 |
| Sundry debtors | 690 | 625 | 702 | 652 | 489 | 486 | 536 |
| Cash & bank balances | 200 | 75.97 | 71.07 | 126 | 134 | 198 | 99.53 |
| Loans & advances | 626 | 676 | 561 | 536 | 509 | 466 | 349 |
| Total current assets | 1,515 | 1,377 | 1,334 | 1,315 | 1,134 | 1,149 | 985 |
| Total current liabilities | 1,232 | 1,221 | 1,200 | 1,126 | 995 | 831 | 655 |
| Net working capital | 283 | 156 | 134 | 189 | 139 | 318 | 330 |
| Total assets | 1,873 | 1,358 | 1,277 | 1,427 | 980 | 856 | 767 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 65.09 | 24.39 | 126 | 134 | 200 | 99.53 | 54.95 |
| Net cash from operating activities | 254 | 343 | 227 | 119 | 191 | 294 | 85.38 |
| Net cash from investing activities | (316) | (155) | (52.55) | (310) | (140) | (108) | 35.51 |
| Net cash from financing activities | 105 | (148) | (276) | 183 | (117) | (87.49) | (76.31) |
| Net change in cash | 42.03 | 40.70 | (102) | (7.68) | (66.33) | 98.23 | 44.58 |
| Closing cash | 200 | 75.97 | 71.07 | 126 | 134 | 198 | 99.53 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +14.7% | +10.9% | +7.4% | +23.9% | +26.9% | -6.0% | - |
| EBITDA growth | +29.9% | +24.0% | -11.8% | +41.0% | +40.2% | -16.9% | - |
| PBT growth | +9998.0% | +70.9% | - | +31.3% | -32.9% | -51.7% | -39.2% |
| Net income growth | +109.1% | +28.4% | -314.9% | +50.3% | -45.7% | -41.7% | - |
| Revenue CAGR (3Y) | +10.9% | +13.8% | +19.0% | +13.9% | +2.4% | -1.5% | +9.2% |
| EBITDA CAGR (3Y) | +12.4% | +15.5% | +20.3% | +18.0% | +6.8% | +3.2% | +27.6% |
| Profitability & leverage | |||||||
| Net income margin | +0.2% | -0.5% | -1.0% | +0.5% | +0.4% | +0.9% | +1.6% |
| Return on capital employed | +7.3% | +5.6% | +3.1% | +7.2% | +6.1% | +7.3% | +15.0% |
| Return on net worth | +1.5% | -7.5% | -9.9% | +5.0% | +2.7% | +5.2% | +10.6% |
| Debt / equity | 0.94 | 1.73 | 1.49 | 1.12 | 0.60 | 0.42 | 0.23 |
| Long-term debt / equity | 0.73 | 1.30 | 0.97 | 0.72 | 0.40 | 0.27 | 0.13 |
| Interest cover | 82.39 | 140.70 | 339.95 | 73.40 | 70.08 | 48.04 | 20.78 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 3.87 | 3.96 | 4.01 | 4.72 | 5.80 | 6.91 | 13.26 |
| Inventory turnover | 0.00 | 0.00 | 26,858.39 | 5,574.23 | 5,791.27 | 0.00 | 0.00 |
| Debtors turnover | 10.65 | 9.20 | 8.13 | 8.99 | 8.50 | 6.39 | 6.59 |
| EPS (₹) | 0.23 | (4.97) | (7.60) | 3.65 | 2.44 | 4.19 | 7.70 |
| Dividend per share (₹) | 2.50 | 2.50 | 2.50 | 2.50 | 2.00 | 2.50 | 1.50 |
| Book value per share (₹) | 118.40 | 60.71 | 68.36 | 78.02 | 76.03 | 79.25 | 76.13 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,714 | 1,655 | 1,414 | 1,545 | 1,367 | 1,346 | 1,293 | 1,327 |
| Revenue growth (YoY) | +25.4% | +23.0% | +9.3% | +16.5% | +10.6% | +16.4% | - | - |
| Other income | 20.09 | 8.29 | 3.12 | 3.92 | 2.50 | 1.96 | 1.43 | 4.41 |
| Total expenses | 1,608 | 1,550 | 1,315 | 1,457 | 1,285 | 1,267 | 1,213 | 1,250 |
| EBITDA | 106 | 105 | 99.08 | 88.21 | 82.16 | 78.73 | 79.70 | 76.92 |
| EBITDA margin | +6.2% | +6.3% | +7.0% | +5.7% | +6.0% | +5.8% | +6.2% | +5.8% |
| Depreciation | 65.91 | 62.55 | 61.14 | 62.47 | 62.75 | 55.99 | 49.99 | 50.91 |
| Interest | 13.02 | 11.58 | 12.02 | 14.30 | 16.79 | 16.02 | 13.68 | 15.05 |
| Profit before tax | 46.84 | 38.78 | 29.04 | 15.36 | 5.12 | 8.68 | 17.46 | 15.37 |
| Tax | 9.21 | 9.78 | 7.66 | 3.96 | 1.33 | 2.24 | 4.34 | 3.75 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 5,672 | 5,013 | 4,530 | 4,459 | 3,631 | 2,959 | 3,261 |
| Revenue growth | +13.2% | +10.7% | +1.6% | +22.8% | +22.7% | -9.3% | - |
| Other income | 11.50 | 11.30 | 14.81 | 14.74 | 9.56 | 15.50 | 13.29 |
| Total expenses | 5,324 | 4,715 | 4,238 | 4,183 | 3,452 | 2,842 | 3,113 |
| Employee cost | 325 | 293 | 285 | 289 | 282 | 280 | 291 |
| EBITDA | 348 | 297 | 292 | 276 | 180 | 117 | 148 |
| EBITDA margin | +6.1% | +5.9% | +6.5% | +6.2% | +5.0% | +4.0% | +4.5% |
| Depreciation | 242 | 196 | 178 | 169 | 130 | 82.75 | 65.95 |
| Interest | 59.13 | 54.31 | 44.11 | 41.42 | 26.04 | 17.11 | 14.43 |
| Profit before tax | 58.20 | 58.18 | 85.55 | 80.44 | 32.69 | 32.64 | 80.69 |
| Tax | 15.18 | 14.68 | 23.57 | 15.91 | 8.25 | 8.65 | 25.55 |
| Net profit | 47.54 | 43.68 | 62.42 | 62.63 | 24.49 | 27.14 | 55.28 |
| Net profit margin | +0.8% | +0.9% | +1.4% | +1.4% | +0.7% | +0.9% | +1.7% |
| EPS (₹) | 4.34 | 6.03 | 8.60 | 8.96 | 3.40 | 3.35 | 7.71 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 99.22 | 72.13 | 72.04 | 71.98 | 71.87 | 71.67 | 71.54 |
| Reserves & surplus | 1,377 | 627 | 603 | 556 | 503 | 494 | 474 |
| Shareholders' funds (net worth) | 1,476 | 699 | 675 | 628 | 575 | 565 | 545 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 559 | 560 | 464 | 555 | 361 | 240 | 165 |
| Total debt | 559 | 560 | 464 | 555 | 361 | 240 | 165 |
| Total liabilities | 2,047 | 1,275 | 1,158 | 1,202 | 951 | 819 | 725 |
| Assets | |||||||
| Gross block | 1,431 | 1,148 | 962 | 904 | 755 | 520 | 324 |
| Net block | 778 | 592 | 529 | 551 | 474 | 346 | 210 |
| Capital work in progress | 6.16 | 45.76 | 0.30 | 3.59 | 13.82 | 3.06 | 15.04 |
| Investments | 855 | 419 | 332 | 260 | 137 | 76.48 | 21.41 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.41 | 1.43 | 0.00 | 0.00 |
| Sundry debtors | 510 | 462 | 509 | 451 | 406 | 408 | 476 |
| Cash & bank balances | 152 | 43.39 | 15.33 | 115 | 131 | 197 | 99.28 |
| Loans & advances | 479 | 589 | 506 | 510 | 494 | 441 | 328 |
| Total current assets | 1,140 | 1,094 | 1,030 | 1,077 | 1,032 | 1,047 | 902 |
| Total current liabilities | 987 | 1,043 | 970 | 957 | 898 | 767 | 605 |
| Net working capital | 153 | 51.04 | 59.71 | 120 | 134 | 280 | 297 |
| Total assets | 2,047 | 1,275 | 1,158 | 1,202 | 951 | 819 | 725 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 43.36 | 15.31 | 115 | 131 | 197 | 99.28 | 54.84 |
| Net cash from operating activities | 256 | 382 | 249 | 146 | 204 | 281 | 80.40 |
| Net cash from investing activities | (601) | (226) | (103) | (148) | (150) | (105) | 35.15 |
| Net cash from financing activities | 364 | (127) | (245) | (14.34) | (121) | (77.23) | (71.11) |
| Net change in cash | 18.55 | 28.05 | (99.33) | (16.41) | (66.09) | 97.86 | 44.44 |
| Closing cash | 152 | 43.39 | 15.33 | 115 | 131 | 197 | 99.28 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +13.2% | +10.7% | +1.6% | +22.8% | +22.7% | -9.3% | - |
| EBITDA growth | +17.1% | +1.7% | +5.8% | +53.9% | +53.5% | -20.8% | - |
| PBT growth | +0.0% | -32.0% | +6.4% | +146.1% | +0.2% | -59.6% | -38.1% |
| Net income growth | +8.8% | -30.0% | -0.3% | +155.7% | -9.8% | -50.9% | - |
| Revenue CAGR (3Y) | +8.4% | +11.4% | +15.3% | +11.0% | -0.3% | -2.8% | +8.0% |
| EBITDA CAGR (3Y) | +8.0% | +18.3% | +35.7% | +23.2% | +9.2% | +3.4% | +29.6% |
| Profitability & leverage | |||||||
| Net income margin | +0.8% | +0.9% | +1.4% | +1.5% | +0.7% | +0.8% | +1.7% |
| Return on capital employed | +7.5% | +9.3% | +11.0% | +11.3% | +6.6% | +7.0% | +15.4% |
| Return on net worth | +4.4% | +6.3% | +9.5% | +10.7% | +4.3% | +4.9% | +10.6% |
| Debt / equity | 0.51 | 0.74 | 0.78 | 0.76 | 0.53 | 0.36 | 0.16 |
| Long-term debt / equity | 0.38 | 0.51 | 0.43 | 0.47 | 0.39 | 0.27 | 0.11 |
| Interest cover | 55.87 | 53.67 | 38.41 | 38.67 | 52.96 | 49.96 | 17.63 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 4.40 | 4.75 | 4.86 | 5.38 | 5.70 | 7.01 | 15.39 |
| Inventory turnover | 0.00 | 0.00 | 22,097.07 | 4,846.63 | 5,078.43 | 0.00 | 0.00 |
| Debtors turnover | 11.68 | 10.33 | 9.43 | 10.41 | 8.92 | 6.70 | 6.82 |
| EPS (₹) | 4.34 | 6.03 | 8.60 | 8.96 | 3.40 | 3.35 | 7.71 |
| Dividend per share (₹) | 2.50 | 2.50 | 2.50 | 2.50 | 2.00 | 2.50 | 1.50 |
| Book value per share (₹) | 148.80 | 96.94 | 93.76 | 87.24 | 79.98 | 78.87 | 76.22 |
To see the full year-wise statements and ratios of Mahindra Logistics Limited, buy the company report.
Board of directors of Mahindra Logistics Limited
Mahindra Logistics has 8 current directors and 29 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Malvika Sahni Sinha Also directs: Lords Freight (India) Private Limited, Mahanagar Gas Limited, Bajaj Asset Management Limited and 2 more | Director | 30 Jul 2020 | 6 Years 3 Months | Current |
| Naveen Raju Kollaickal Also directs: Seino MLL Logistics Private Limited, Zipzap Logistics Private Limited, V-Link Freight Services Private Limited and 5 more | Director | 03 Sep 2020 | 6 Years 2 Months | Current |
| Anish Dilip Shah Also directs: Mahindra Lifespace Developers Limited, Mahindra Holidays & Resorts India Limited, Tech Mahindra Limited and 4 more | Director | 02 Apr 2021 | 5 Years 7 Months | Current |
| Darius Dinshaw Pandole | Director | 25 Jul 2017 | 9 Years 3 Months | Current |
| Ranu Vohra | Director | 25 Jul 2017 | 9 Years 3 Months | Current |
| Avani Vishal Davda Also directs: MLL Express Services Private Limited, Kolte-Patil Developers Limited, Emami Limited and 3 more | Director | 06 Jun 2018 | 8 Years 5 Months | Current |
Auditor
Mahindra Logistics Limited is audited by Deloitte Haskins & Sells LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins & Sells LLP | FY 2025 | 117366W/W-100018 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 59.60%, foreign institutional investors hold 4.10%, domestic institutional investors hold 14.40% and retail and other public shareholders hold 21.90%.
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 59.60% | 59.60% | 59.60% | 59.60% |
| Public | 40.40% | 40.40% | 40.40% | 40.40% |
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 14 Sep 2020 | 100375150 | Others | ₹22 Cr | Satisfied | |
| 18 Jan 2011 | 10265693 | The Zoroastrian Co-Operative Bank Limited | ₹8 Cr | Satisfied | |
| 01 Jun 2009 | 10163449 | The Dhanalakshmi Bank Ltd | ₹15 Cr | Satisfied | |
| 13 Oct 2008 | 10128274 | Hdfc Bank Limited | ₹50 Cr | Satisfied |
To see the full charge records of Mahindra Logistics Limited, buy the company report.
Total charge records: 4 View all charges
Deals & funding
Mahindra Logistics Limited has 24 deals on record (12 market trades, 6 funding rounds, 5 secondary share transfers), with disclosed funding of ₹161.91 Cr; the latest was in January 2026.
Deals on record (5 of 24)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2026 | Market trade | ₹18.37 Cr | Buyer: NK Securities Research Private Limited Seller: NK Securities Research Private Limited |
| Jan 2024 | Market trade | ₹19.91 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jul 2023 | Market trade | ₹19.15 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Mar 2015 | Secondary share transfer | Undisclosed | Buyer: Kedaara Capital Seller: Mahindra Logistics Limited , Mahindra Partners Employee Options Trust, Others - Mahindra Logistics Limited |
| Mar 2014 | Secondary share transfer | Undisclosed | Buyer: Kedaara Capital Seller: Mahindra Logistics Limited , Mahindra Partners Employee Options Trust, Others - Mahindra Logistics Limited |
To see the full deal history of Mahindra Logistics Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mahindra Logistics Limited has 388 court cases on record: 64 filed by Mahindra Logistics, 324 filed against it. 74 cases are pending and 314 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 306 | 285 | 54 |
| High courts | 80 | 37 | 20 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 388)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Court case (COMIP) | Filed against the company by Mahindra and Mahindra Limited | Pending |
| High Court of Karnataka | Court case (MFA) | Filed by the company against Bajaj Allianz General Insurance Company Limited and 1 other | Pending |
| High Court, MAHARASHTRA | Appeal | Filed by the company against M/S Aakash Automotive, (Dealer of Mahindra and Mahindra Ltd.) Dhule and 6 others | Pending |
| High Court, MAHARASHTRA | Appeal | Filed by the company against Icici Lombard General Insurance Co. Ltd., Aurangabad and 6 others | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Interim or miscellaneous application | Filed by the company against M/S.Indra Kumar Import Export Pvt. Ltd. and 3 others | Pending |
To see the full case history of Mahindra Logistics Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Mahindra Logistics Limited was last rated by Icra on 30 Jun 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 30 Jun 2021 |
To see the full credit ratings and regulatory alerts of Mahindra Logistics Limited, buy the company report.
MSME payment delays
Mahindra Logistics Limited has 26 MSME Form 1 returns on record between 2012 and 2023, listing 905 overdue payments to 81 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 81)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Atharva Auto Logistics Private Limited | |||
| Aps Cargo Express India Private Limited | |||
| Elite Global Business Services Private Limited | |||
| Scinntc Supply Chain Solutions Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Mahindra Logistics Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Mahindra Logistics has 7 subsidiary companies and 2 associated companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| V-Link Automotive Services Private Limited | U50500MH2010PTC198987 | |
| V-Link Freight Services Private Limited | U62100MH2022PTC390187 | |
| 2 X 2 Logistics Private Limited | U63000MH2012PTC237062 | |
| Lords Freight (India) Private Limited | U63030MH2011PTC216628 | |
| V-Link Fleet Solutions Private Limited | U63040MH2006PTC165955 | |
| MLL Express Services Private Limited | U63040MH2006PTC165956 |
To see the full group structure of Mahindra Logistics Limited, buy the company report.
Employees & EPFO
Mahindra Logistics Limited has a workforce of 4,005 employees on its EPFO records as of Apr 02, 2024, across 2 active EPFO establishments.
GST
Mahindra Logistics has 26 GST registrations: 25 active and 1 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAFCM2530H1ZO | Maharashtra | Active | 01 Jul 2017 |
| 27AAFCM2530H2ZN | Maharashtra | Active | 02 Aug 2017 |
| 02AAFCM2530H1Z0 | Himachal Pradesh | Active | 01 Jul 2017 |
| 03AAFCM2530H1ZY | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Mahindra Logistics Limited, buy the company report.
Recent activity
Mahindra Logistics Limited has 59 board changes on record since 2007: 34 appointments and 25 cessations. The latest: Isha Dalal was appointed as CFO on 22 Sep 2025.
59 earlier events are in the company report.
News
Frequently asked questions
Mahindra Logistics is an active public limited company based in Mumbai, Maharashtra, India. The company works in 3pl (third party logistics) services, within the transport and logistics industry. It was incorporated on 24 August 2007 (19+ years old) and is registered under CIN L63000MH2007PLC173466. Listed on BSE: 540768 and NSE: MAHLOG.
Mahindra Logistics reported revenue of ₹6,999.3 Cr for FY 2025-26 (up 14.7% YoY) based on consolidated financials.
Mahindra Logistics has 8 current directors:
- Hemant Sikka - Managing Director
- Malvika Sahni Sinha - Director
- Naveen Raju Kollaickal - Director
- Anish Dilip Shah - Director
- Darius Dinshaw Pandole - Director
- Ranu Vohra - Director
- Avani Vishal Davda - Director
- Ameet Pratapsinh Hariani - Director
The latest financial statements of Mahindra Logistics on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 20 July 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Mahindra Logistics is 27AAFCM2530H1ZO, registered in Maharashtra. The company has 26 GST registrations in all, of which 25 are active and 1 is cancelled or inactive. Other active GSTINs include 27AAFCM2530H2ZN (Maharashtra), 02AAFCM2530H1Z0 (Himachal Pradesh), 03AAFCM2530H1ZY (Punjab).
The CIN (Corporate Identification Number) of Mahindra Logistics is L63000MH2007PLC173466. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Mahindra Logistics is a listed company as per MCA records. Its shares are listed on both BSE (code: 540768) and NSE (symbol: MAHLOG).
Mahindra Logistics has 388 court cases on record: 64 filed by the company and 324 filed against it. 74 are pending. Most are in the district courts.
Mahindra Logistics was incorporated on 24 August 2007, making it 19+ years old. It is registered with the Registrar of Companies, Mumbai.
Mahindra Logistics has 24 deals on record (12 market trades, 6 funding rounds, 5 secondary share transfers), with disclosed funding of ₹161.91 Cr; the latest was in January 2026.
Isha Dalal was appointed as CFO on 22 Sep 2025. Saurabh Taneja ceased to be CFO on 19 Sep 2025. Dhananjay Narendra Mungale ceased to be Director on 21 Jul 2025. Mahindra Logistics has 59 board changes on record in total.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
