Mahindra Logistics Ltd. Delivers Strong 37 percent Revenue Growth in H1FY18Mahindra Logistics Ltd. (1:15PM)
Business Wire India
Mahindra Logistics Ltd. (MLL), one of India's largest 3PL solutions providers in the Indian logistics industry, today announced its consolidated financial results for the half year ended September 30, 2017.
H1 FY18 performance compared with H1 FY17
Revenue grows to Rs. 1,688 crore from Rs. 1,228 crore, up 37%
EBITDA expands to Rs. 56 crore from Rs. 42 crore, up 35%
PAT increases to Rs. 29 crore from Rs. 22 crore, up 30%
Diluted Earnings Per Share increases to Rs. 4.09 compared to Rs. 3.23
MLL has reported a strong operational and financial performance in H1 FY18 on the back of new client wins and by expanding existing long-term customer relationships
Non-Mahindra Supply Chain revenue grows by 49%.
Commenting on the performance, Mr. Pirojshaw Sarkari (Phil), CEO of Mahindra Logistics, said, "I am delighted to present the first financial results following our successful public listing. I extend a warm welcome to all our public shareholders and look forward to their participation and support in our exciting journey of sustained progress, which we believe will create increasing long term value for all our stakeholders.
We have reported a strong financial and operational performance in H1 FY18 on the back of new client wins and by expanding existing long-term customer relationships. Going forward, GST coupled with infrastructure status will further enable 3PL players to organize the logistics space."
About Mahindra Logistics
Mahindra Logistics Limited (MLL) is a portfolio company of Mahindra Partners, the USD 1 billion private equity division of the USD 19 billion Mahindra Group. MLL is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and people transport solutions. Founded more than a decade ago, MLL serves over 300 corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an "asset-light" business model, providing customised and technology enabled solutions that span across the supply chain and people transport operations.
For more information, visit www.mahindralogistics.com
About Mahindra Partners
Mahindra Partners is the 1 billion USD Incubation, Private Equity & Venture Capital division of the Mahindra Group. Its mission is to accelerate value creation through a diversified global portfolio of emergent businesses. The portfolio spans across multiple industries like logistics, steel processing, renewable energy, conveyor systems, retail, infrastructure consulting and skill building, luxury boat manufacturing and media. It has recently expanded operations in U.S. by investing in the IoT and shared mobility space.
For more information, visit www.mahindrapartners.com
The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.
Learn more about Mahindra on www.mahindra.com / Twitter: @MahindraRise Facebook: @MahindraRise
Mumbai, Maharashtra, India