Q2 2025 Mahindra Logistics Ltd Earnings Call Transcript
Key Points
- Mahindra Logistics Ltd (NSE:MAHLOG) reported a revenue increase of 11.5% year-on-year for Q2 FY25, indicating strong growth despite challenging market conditions.
- The 3PL contract logistics business grew by 7% year-on-year, driven by new site volume growth and healthy order intake.
- The company expanded its warehousing network, with operations commencing in new locations like Guwahati and Kolkata, contributing to a total warehousing space of 21.6 million square feet.
- Freight forwarding segment showed recovery with growth in tonnage and a favorable pricing environment, particularly in ocean freight.
- The mobility business reported a 72% increase in PAT year-on-year, reflecting improved profitability.
- The express business faced a challenging quarter with a 7% to 8% decline in volumes from existing customers, impacting overall performance.
- Mahindra Logistics Ltd (NSE:MAHLOG) reported a consolidated loss of INR10.8 crores for the quarter, indicating financial challenges.
- The company experienced unabsorbed white space in its warehousing operations, leading to a pretax impact of INR7.5 crores to INR8 crores.
- Rivigo, a subsidiary, continues to experience cash burn, with reported losses of INR24.2 crores for the quarter.
- The automotive sector showed mixed trends, with commercial vehicle sales remaining subdued, impacting logistics demand.
Ladies and gentlemen, good day, and welcome to Mahindra Logistics Limited Q2 and H1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Shogun Jain. Thank you, and over to you, sir.
Thank you for joining us on the call today. We have with us Mr. Rampraveen Swaminathan, MD and CEO; Mr. Saurabh Taneja, CFO; and the senior management team. 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 exchanges.
We will begin the call with opening remarks from management, followed by an open forum for Q&A. Before we begin, I'd like to point out that some of the statements may be forward-looking. A disclaimer to that effect was included in the earnings presentation.
With this, I'd like to invite Ram to make some preliminary remarks.
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