Mahindra Logistics reports turnaround Q4 numbers
Revenue from operations jumped 14.13% year-on-year (YoY) to Rs 1,791.41 crore for the quarter ended 31 March 2026.
Profit before tax stood at Rs 31.95 crore in Q4 FY26, compared with Rs 0.95 crore in Q4 FY25.
EBITDA stood at Rs 112 crore in Q4 FY26, registering a growth of 43.59% compared with Rs 112 crore posted in Q4 FY25.
Total expenses increased 12.25% to Rs 1,763.25 crore in Q4 FY26 as compared with Rs 1,570.75 crore in Q4 FY25. Operating expenses was at Rs 1,535.13 crore (up 12.98% YoY), employee benefit expenses stood at Rs 106.26 crore (up 11.11% YoY) and finance cost was at Rs 14.30 crore (down 30.41% YoY) during the period under review.
The company reported a stronger consolidated performance for FY26, with revenue rising to Rs 6,999 crore from Rs 6,105 crore in FY25, reflecting steady business growth.
EBITDA increased to Rs 376 crore compared to Rs 284 crore in the previous fiscal, indicating improved operational efficiency.
Operational profit after tax (PAT) stood at Rs 8.2 crore, a significant turnaround from a loss of Rs 35.8 crore in FY25. Reported PAT came in at Rs 2.3 crore for the year.
The company has reported strong revenue growth of 15% driven across business verticals. Operating and financial discipline has resulted in a return to profitability after two financial years, with reported FY26 PAT of Rs 2.3 crores and Operational PAT of Rs 8.2 crores.
The Express Business has grown its revenue by 25% YoY. Network optimization, yield actions across customers, coupled with effective cost control and focus on maintaining and improving Network Service Levels (NSL) have driven steady gross margin expansion over the last three quarters. The Express Business delivered positive GM of 1.3% in FY26.
Freight Forwarding demonstrated resilience with 14% revenue growth YoY despite a challenging global trade environment. EBITDA grew 48%, driven by margin expansion on the back of traction in the nomination business and better penetration with key customers.
Mobility recorded a 22% increase in revenue and a 45% growth in EBITDA YoY driven by new additions to the B2B portfolio and the successful launch of Alyte Prive, a premium, tech-enabled B2C mobility service offering airport-to-city and intercity travel.
Last Mile Delivery (LMD) has consolidated its presence across customers, exiting unviable businesses and strengthening presence in high-potential areas. It continues to demonstrate strong execution, leveraging technology, human capital and process discipline. In Q4 F26, the business generated EBITDA of Rs 2.2 cr vs Rs 1 cr loss in Q3 FY26.
Warehousing operations maintained scale with 20.4 million square feet space under management. The Company made meaningful progress in optimizing its portfolio, and white space reduction is on track
Hemant Sikka, managing director and CEO of Mahindra Logistics, said, ?Q4 FY26 reflects sustained momentum in our transformation journey. Building on last quarter?s return to profitability, we saw stronger execution discipline, tighter operational rigor, sharper focus on customer level economics, and positive customer feedback on service reliability, responsiveness, and operating standards, enabled by a more stable and aligned leadership structure.
These Improvements were driven by stronger performance across our contract logistics businesses (with multiple wins across segments), meaningful progress in the Express business turnaround, and sustained focus on operational excellence. Alongside these, our presence in e-commerce and quick commerce continues to grow strongly. The transformation at Mahindra Logistics is now firmly embedded and gaining traction. We remain committed to becoming the #1 Logistics services provider in India, delivering superior customer experience through technology led solutions along with a passionate team.?
The board has recommended a final dividend of Rs 2.50 per equity share (25%) for FY26, subject to shareholder approval at the upcoming AGM. The record date is 10 July 2026, and the dividend will be paid after 20 July 2026, within stipulated timelines.
Mahindra Logistics (MLL) is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility.
Shares of Mahindra Logistics fell 3.79% to Rs 426.30 on the BSE.
