Port Wings News Network:
Mahindra Logistics Ltd. (MLL), one of India’s large 3PL solutions providers, on 30 October 2020 announced its consolidated financial results for the quarter and half year ended on Sept 30, 2020.
Commenting on the performance, Mr. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said, “We have seen a strong rebound in our supply chain operations during the quarter. Our fulfillment logistics solutions & services continued to witness strong growth driven by E-commerce, Pharma and FMCG verticals. We also continued to see strong growth from the Farm segment during the quarter. While we are not yet completely back to normalcy since the advent of Covid-19 pandemic, our focus on select industry verticals, our deep partner network and our ability to fulfil customer requirements efficiently, has enabled year-on-year growth in our supply chain business.”
Mr. Rampraveen Swaminathan stated: “We have in this period, also scaled up the speed on technology adoption with several IT systems and functionalities going live, which will enable seamless data flow and support businesses better. During the quarter we launched two new built-to-suit warehouses aggregating 0.8 million square feet and continued to see strong demand for value-added services & solutions.”
“The business environment is steadily improving. With improving auto demand, combined with growth in our E-commerce, Consumer and Freight Forwarding business, we remain positive that the execution of our strategy will continue to provide strong momentum,” added Mr. Rampraveen Swaminathan.
Q2 FY21 performance compared with Q2 FY20
Revenue Rs. 833 crore as compared to Rs. 852 crore last year,
EBITDA Rs. 46 crore as compared to Rs. 40 crore last year,
PBT Rs. 20 crore as compared to Rs. 18 crore last year,
PAT Rs. 15 crore as compared to Rs 11 crore last year,
EPS (Diluted) Rs. 2.08 as compared to Rs. 1.55 last year.
H1 FY21 performance compared with H1 FY20
Revenue Rs. 1,243 crore as compared to Rs. 1,751 crore last year,
EBITDA Rs. 46 crore as compared to Rs. 87 crore last year,
PBT Rs. -2 crore as compared to Rs. 46 crore last year,
PAT Rs. -2 crore as compared to Rs 30 crore last year,
EPS (Diluted) Rs. -0.12 as compared to Rs. 4.15 last year.
- Significant recovery in operations despite ongoing pandemic, driven by growth across all supply chain end-markets including Farm, E-commerce, Consumer and Pharma verticals
- Company sustained its efforts to ramp up operations by expanding industry diversification and new customer additions, with a year-on-year growth in supply chain segment. This is despite the disruption in Q1 FY21.
- Continuing growth in value-added services & solutions with improving performance especially in E-commerce and Consumer, combined with growth in Freight Forwarding verticals.
- Generated positive free cash in the reported period, backed by prudent cash flow management practices.