Q1 2025 Mahindra Logistics Ltd Earnings Call Transcript
Key Points
- Mahindra Logistics Ltd (NSE:MAHLOG) reported a 10% increase in revenue for Q1 FY25 compared to the same quarter last year, reaching INR 1,420 crores.
- The company secured several key orders, including contracts with a large international personal care cosmetics company and a leading e-commerce marketplace.
- The launch of a new 300,000 square feet multi-client facility in Guwahati, the largest of its kind in the Northeast, powered entirely by renewable energy.
- The company has completed over 13 million green miles, indicating significant progress in its EV penetration and sustainability efforts.
- The formation of a joint venture with Japan's leading auto logistics company, China Holding, to focus on Japanese automotive OEMs, which is expected to start showing results by the end of the financial year.
- PAT for Q1 FY25 was INR 10.2 crores, a significant decrease of approximately 54% compared to INR 23 crores in Q1 FY24.
- The company's gross margin on a fully consolidated basis decreased from 10.5% in Q1 FY24 to 9.5% in Q1 FY25, impacted by higher labor costs and extended start-up periods.
- The Express business, particularly the Rivigo segment, continues to face challenges with quarter-on-quarter flattish profitability and ongoing losses.
- The warehousing segment experienced a drop in yield to INR 6.2 per square foot, impacted by pre-operating costs and higher labor expenses.
- The company faced a mixed demand environment, with some categories affected by election-related slowdowns and slower consumption, impacting volumes in B2B Express and last-mile delivery businesses.
Ladies and gentlemen, good day, and welcome to Mahindra Logistics Limited Q1 FY25 earnings conference call. (Operator instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Shogun Jain from SGA. Thank you, and over to you, Mr. Jain.
Thank you. Good evening, everyone, and thank you for joining us on the Mahindra Logistics Limited Q1 FY25 earnings conference call. We have with us Mr. Rampraveen Swaminathan, MD and CEO; Mr. Saurabh Taneja, CFO, and the senior management of the company.
I hope everyone has had a chance to view the financial results and investor presentation, which were recently posted on the company's website and stock exchange. We will begin the call with opening remarks from the management, followed by an open forum for Q&A.
Before we begin, I'd like to point out that some of the statements made during today's call may be forward-looking. A disclaimer to that effect was included in the earnings presentation.
I now like to invite
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