Q1FY22 Result Update - Mahindra Logistics - ICICI Direct

QoQ performance dip was much lower than expected.

- Revenues de-grew 10% QoQ (vs. I-direct expectation of 22% de-growth) to Rs. 873 crore, led by better-than-expected SCM segment performance

- EBITDA was flat QoQ at Rs. 45 crore with margins at 5.2% (vs. expected 4.3%)

- PAT de-grew 27% QoQ to Rs. 9 crore (vs. expected Rs. 3 crore), as operating performance was impacted by higher interest and depreciation expense

Key triggers for future price performance

MLL has been steadily building up its presence in non-auto segments such as e-commerce, pharma, consumer segment enabling it to

- Shift buying behaviour (more online shopping), leading to higher warehousing space requirement and 3PL relevance

- Increased investment in technology and multi-modal transport offering to customers

- Asset light business model, with projected 30%+ RoIC in FY23

For details, click on the link below: Link to the report

Shares of Mahindra Logistics Ltd was last trading in BSE at Rs. 748.2 as compared to the previous close of Rs. 673.15. The total number of shares traded during the day was 161146 in over 12981 trades.

The stock hit an intraday high of Rs. 807.3 and intraday low of 658. The net turnover during the day was Rs. 118549453.

Source : Equity Bulls

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