Integrated Filing — IndAS

General information about company
Scrip Code	540768
NSE Symbol	MAHLOG
MSEI Symbol	NOTLISTED
ISIN	INE766P01016
Name of company	MAHINDRA LOGISTICS LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-Apr-2024
Date of end of financial year	31-Mar-2025
Date of board meeting when results were approved	21-Apr-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	12-Apr-2025
Description of presentation currency	INR (in Actuals)
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Supply Chain Management
Start date and time of board meeting	21-Apr-2025   13:46:00
End date and time of board meeting	21-Apr-2025   15:35:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Declaration of unmodified opinion
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	2025-01-27
Indicate Company website link for updated RPT policy of the Company	https://mahindralogistics.com/tabs/cms/files/Policy-for-determinig-Material-RPTs.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
Not Applicable as there is no default.

Financial Results Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	12931300000	50125600000
	Other income	14300000	113000000
	Total income	12945600000	50238600000
2	Expenses
(a)	Cost of materials consumed	0	0
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	727000000	2928100000
(e)	Finance costs	136800000	543100000
(f)	Depreciation, depletion and amortisation expense	499900000	1960500000
(f)	Other Expenses
1	Operating Expenses	11127800000	43024600000
2	Other Expenses	279500000	1200500000
	Total other expenses	11407300000	44225100000
	Total expenses	12771000000	49656800000
3	Total profit before exceptional items and tax	174600000	581800000
4	Exceptional items	0	0
5	Total profit before tax	174600000	581800000
6	Tax expense
7	Current tax	52900000	190400000
8	Deferred tax	-9500000	-43600000
9	Total tax expenses	43400000	146800000
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	131200000	435000000
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	131200000	435000000
17	Other comprehensive income net of taxes	5900000	3900000
18	Total Comprehensive Income for the period	137100000	438900000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	721300000	721300000
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		6271200000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	1.82	6.04
	Diluted earnings (loss) per share from continuing operations	1.82	6.03
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	1.82	6.04
	Diluted earnings (loss) per share from continuing and discontinued operations	1.82	6.03
24	Debt equity ratio	0.2145	0.2145
25	Debt service coverage ratio	2.269	1.6409
26	Interest service coverage ratio	5.8286	5.4736
27	Disclosure of notes on financial results		1. The Standalone Financial Results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their respective Meetings held on 21 April 2025. The statutory auditors have performed audit of the Standalone financial results for the year ended 31 March 2025 and limited review for the quarter ended 31 March 2025 and have issued an unmodified opinion. n n2. The Standalone Financial Results have been prepared and published in accordance with the Indian Accounting Standards, Section 133 of the Companies Act, 2013 read with Rules framed thereunder and Regulation 33 of SEBI Listing Regulations, as amended from time to time. Additional information pursuant to Regulation 52(4) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015 is annexed. n n3. On 4 March 2025, MLL Global Logistics Limited, a wholly owned subsidiary of the Company which was incorporated in United Kingdom, had obtained the consent of its shareholders for its voluntary dissolution and has made an application for strike-off and dissolution with the Registrar of Companies, United Kingdom. n n4. On 27 March 2025, the Company acquired 3,50,00,000 equity shares of Rs. 10 each fully paid pursuant to the rights offer made by MLL Express Services Private Limited amounting to Rs. 35 crores for cash consideration. n n5. During the quarter ended 31 March 2025, the Company has allotted 81,129 equity shares of Rs. 10 each fully paid-up, on exercise of Restricted Stock Units (RSUs) by eligible employees under the Mahindra Logistics Employee Restricted Stock Unit Plan 2018. n n6. The figures of the last quarter ended 31 March 2025 are the balancing figures between audited figures in respect of the full financial year and published year to-date figures upto the third quarter of the respective financial years and there are no material adjustments made in the results of the quarter ended 31 March 2025 which pertain to earlier periods. These have been subjected to limited review by the auditors. n n7. The Board has recommended a dividend of Rs. 2.50 per share on equity share of Rs. 10 each (25%) subject to approval of members of the company at the forthcoming Annual General Meeting. n n8. Figures for the corresponding previous periods have been regrouped wherever necessary to facilitate comparison.

Remarks
Debt equity ratio
Debt service coverage ratio	Earnings available to service the current debt and interest is higher.
Interest service coverage ratio	Earnings available to service the interest cost is higher.

Statement of Asset and Liabilities
Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-Apr-2024
Date of end of reporting period		31-Mar-2025
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	5914700000
	Capital work-in-progress	457600000
	Investment property	0
	Goodwill	0
	Other intangible assets	8600000
	Intangible assets under development	0
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	4189900000
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	1004400000
	Total non-current financial assets	5194300000
	Deferred tax assets (net)	330100000
	Other non-current assets	336800000
	Total non-current assets	12242100000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	0
	Trade receivables, current	4618100000
	Cash and cash equivalents	433600000
	Bank balance other than cash and cash equivalents	300000
	Loans, current	44000000
	Other current financial assets	4884300000
	Total current financial assets	9980300000
	Current tax assets (net)	0
	Other current assets	960500000
	Total current assets	10940800000
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	23182900000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	721300000
	Other equity	6271200000
	Total equity attributable to owners of parent	6992500000
	Non controlling interest
	Total equity	6992500000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	1500000000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	2833800000
	Total non-current financial liabilities	4333800000
	Provisions, non-current	130600000
	Deferred tax liabilities (net)	0
	Deferred government grants, Non-current	0
	Other non-current liabilities	27200000
	Total non-current liabilities	4491600000
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	1459100000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	8037800000
	Total Trade payable	9496900000
	Other current financial liabilities	1837400000
	Total current financial liabilities	11334300000
	Other current liabilities	283600000
	Provisions, current	44400000
	Current tax liabilities (Net)	36500000
	Deferred government grants, Current	0
	Total current liabilities	11698800000
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	16190400000
	Total equity and liabilites	23182900000
	Disclosure of notes on assets and liabilities

Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-Jan-2025	01-Apr-2024
Date of end of reporting period		31-Mar-2025	31-Mar-2025
Whether accounts are audited or unaudited		Unaudited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-Jan-2025	01-Apr-2024
B	Date of end of reporting period	31-Mar-2025	31-Mar-2025
C	Whether results are audited or unaudited	Unaudited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurements of the defined benefit plans - Gains/(Losses)	8000000	5300000
	Total Amount of items that will not be reclassified to profit and loss	8000000	5300000
2	Income tax relating to items that will not be reclassified to profit or loss	2100000	1400000
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	5900000	3900000

Cash flow statement, indirect
Particulars				Year ended (dd-mm-yyyy)
A	Date of start of reporting period			2024-04-01
B	Date of end of reporting period			2025-03-31
C	Whether results are audited or unaudited			Unaudited
D	Nature of report standalone or consolidated			Standalone
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			581800000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			543100000
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			-222400000
	Adjustments for decrease (increase) in trade receivables, non-current			0
	Adjustments for decrease (increase) in other current assets			0
	Adjustments for decrease (increase) in other non-current assets			0
	Adjustments for other financial assets, non-current			0
	Adjustments for other financial assets, current			0
	Adjustments for other bank balances			0
	Adjustments for increase (decrease) in trade payables, current			606800000
	Adjustments for increase (decrease) in trade payables, non-current			0
	Adjustments for increase (decrease) in other current liabilities			0
	Adjustments for increase (decrease) in other non-current liabilities			0
	Adjustments for depreciation and amortisation expense			1960500000
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss			0
	Adjustments for provisions, current			0
	Adjustments for provisions, non-current			0
	Adjustments for other financial liabilities, current			0
	Adjustments for other financial liabilities, non-current			0
	Adjustments for unrealised foreign exchange losses gains			0
	Adjustments for dividend income			0
	Adjustments for interest income			0
	Adjustments for share-based payments			-26300000
	Adjustments for fair value losses (gains)			0
	Adjustments for undistributed profits of associates			0
	Other adjustments for which cash effects are investing or financing cash flow			-36200000
	Other adjustments to reconcile profit (loss)			77500000
	Other adjustments for non-cash items			46700000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			2949700000
	Net cash flows from (used in) operations			3531500000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			-283500000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			3815000000
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses			0
	Cash flows used in obtaining control of subsidiaries or other businesses			850000000
	Other cash receipts from sales of equity or debt instruments of other entities			0
	Other cash payments to acquire equity or debt instruments of other entities			0
	Other cash receipts from sales of interests in joint ventures			0
	Other cash payments to acquire interests in joint ventures			20000000
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships			0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships			0
	Proceeds from sales of property, plant and equipment			29900000
	Purchase of property, plant and equipment			1434900000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			0
	Purchase of intangible assets			0
	Proceeds from sales of intangible assets under development			0
	Purchase of intangible assets under development			0
	Proceeds from sales of goodwill			0
	Purchase of goodwill			0
	Proceeds from biological assets other than bearer plants			0
	Purchase of biological assets other than bearer plants			0
	Proceeds from government grants			0
	Proceeds from sales of other long-term assets			0
	Purchase of other long-term assets			0
	Cash advances and loans made to other parties			0
	Cash receipts from repayment of advances and loans made to other parties			0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts			0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts			0
	Dividends received			0
	Interest received			1500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			12600000
	Net cash flows from (used in) investing activities	-2260900000
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries			0
	Payments from changes in ownership interests in subsidiaries			0
	Proceeds from issuing shares			800000
	Proceeds from issuing other equity instruments			0
	Payments to acquire or redeem entity's shares			0
	Payments of other equity instruments			0
	Proceeds from exercise of stock options			0
	Proceeds from issuing debentures notes bonds etc			0
	Proceeds from borrowings			1500000000
	Repayments of borrowings			820000000
	Payments of lease liabilities			1593600000
	Dividends paid			180100000
	Interest paid			180700000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) financing activities			-1273600000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			280500000
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents			0
	Net increase (decrease) in cash and cash equivalents			280500000
	Cash and cash equivalents cash flow statement at beginning of period			153100000
	Cash and cash equivalents cash flow statement at end of period			433600000