Mahindra Logistics Ltd, incorporated in the year 2007, is a Mid Cap company with a market cap of Rs 3755.53 Crore, operating in Logistics sector.
Mahindra Logistics’ key Products/Revenue Segments include Services Rendered and Other Operating Revenue for the year ending 31-Mar-2020.
Investment Rationale
Yes Securities said, Q4 has been a mixed bag where transportation segment has done reasonably well but warehousing segment has struggled. Going forward, it believes Mahindra Logistics’ growth would be driven by growth in end use segments and how the new initiatives like Flex Warehousing solutions and EDEL (last mile delivery) play out.
Yes Securities largely retain its estimates for FY23 and retain its negative stance on the stock. While several new initiatives are being undertaken (like providing integrated solutions and value‐added services), Yes Securities believes the positives are priced in at current levels. It would await for a better entry point and hence retain a sell call for a target price of Rs 424.
Financials
For the quarter ended 31-03-2021, the company has reported a Consolidated Total Income of Rs 978.65 Crore, down 6.66 per cent from last quarter’s Total Income of Rs 1048.51 Crore and up 20.10 per cent from last year same quarter’s Total Income of Rs 814.87 Crore. Company has reported a net profit after tax of Rs 12.41 Crore in the latest quarter.
