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	Consolidated
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	Multi segment
Description of single segment
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

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	Consolidated	Consolidated
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	15695100000	61048300000
	Other income	21700000	158200000
	Total income	15716800000	61206500000
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	956300000	4036000000
(e)	Finance costs	205500000	812100000
(f)	Depreciation, depletion and amortisation expense	583900000	2263200000
(f)	Other Expenses
1	Operaing Expenses	13587600000	52608900000
2	Other Expenses	374200000	1562900000
	Total other expenses	13961800000	54171800000
	Total expenses	15707500000	61283100000
3	Total profit before exceptional items and tax	9300000	-76600000
4	Exceptional items	0	0
5	Total profit before tax	9300000	-76600000
6	Tax expense
7	Current tax	56200000	212500000
8	Deferred tax	6200000	10800000
9	Total tax expenses	62400000	223300000
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	-53100000	-299900000
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	200000	-100000
16	Total profit (loss) for period	-52900000	-300000000
17	Other comprehensive income net of taxes	3100000	1100000
18	Total Comprehensive Income for the period	-49800000	-298900000
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	-67500000	-358500000
	Total profit or loss, attributable to non-controlling interests	14600000	14600000
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	-63700000	-356700000
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	13900000	57800000
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		3657500000
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-0.93	-4.97
	Diluted earnings (loss) per share from continuing operations	-0.93	-4.97
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	-0.93	-4.97
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.93	-4.97
24	Debt equity ratio	0.93	0.93
25	Debt service coverage ratio	1.81	1.22
26	Interest service coverage ratio	3.78	3.5
27	Disclosure of notes on financial results		1. The Consolidated 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 Consolidated 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 Consolidated 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. 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 n5. 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. n n6. 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.

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		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	6622400000
	Capital work-in-progress	457600000
	Investment property
	Goodwill	587600000
	Other intangible assets	2085600000
	Intangible assets under development
	Biological assets other than bearer plants
	Investments accounted for using equity method	19900000
	Non-current financial assets
	Non-current investments	0
	Trade receivables, non-current
	Loans, non-current	0
	Other non-current financial assets	1211000000
	Total non-current financial assets	1211000000
	Deferred tax assets (net)	455500000
	Other non-current assets	384600000
	Total non-current assets	11824200000
2	Current assets
	Inventories	0
	Current financial asset
	Current investments	206400000
	Trade receivables, current	6251000000
	Cash and cash equivalents	650900000
	Bank balance other than cash and cash equivalents	108800000
	Loans, current	0
	Other current financial assets	5579800000
	Total current financial assets	12796900000
	Current tax assets (net)
	Other current assets	1180400000
	Total current assets	13977300000
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	25801500000
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	721300000
	Other equity	3657500000
	Total equity attributable to owners of parent	4378800000
	Non controlling interest	163500000
	Total equity	4542300000
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	4104700000
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities	3081200000
	Total non-current financial liabilities	7185900000
	Provisions, non-current	339600000
	Deferred tax liabilities (net)	13500000
	Deferred government grants, Non-current
	Other non-current liabilities
	Total non-current liabilities	7539000000
	Current liabilities
	Current financial liabilities
	Borrowings, current	137100000
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	1500400000
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	9496200000
	Total Trade payable	10996600000
	Other current financial liabilities	2122400000
	Total current financial liabilities	13256100000
	Other current liabilities	335400000
	Provisions, current	91300000
	Current tax liabilities (Net)	37400000
	Deferred government grants, Current
	Total current liabilities	13720200000
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	21259200000
	Total equity and liabilites	25801500000
	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		Consolidated	Consolidated
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
1	Supply Chain Management	14905200000	57892700000
2	Enterprise Mobility Services	800200000	3205300000
	Total Segment Revenue	15705400000	61098000000
	Less: Inter segment revenue	10300000	10300000
	Revenue from operations	15695100000	61048300000
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
1	Supply Chain Management	-4000000	-130800000
2	Enterprise Mobility Services	13300000	54200000
	Total Profit before tax	9300000	-76600000
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax	9300000	-76600000
3	(Segment Asset - Segment Liabilities)
	Segment Asset
1	Supply Chain Management	24743000000	24743000000
2	Enterprise Mobility Services	1058500000	1058500000
	Total Segment Asset	25801500000	25801500000
	Un-allocable Assets	0	0
	Net Segment Asset	25801500000	25801500000
4	Segment Liabilities
	Segment Liabilities
1	Supply Chain Management	20586400000	20586400000
2	Enterprise Mobility Services	672800000	672800000
	Total Segment Liabilities	21259200000	21259200000
	Un-allocable Liabilities	0	0
	Net Segment Liabilities	21259200000	21259200000
	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	Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Remeasurements of the defined benefit plans	5300000	2600000
	Total Amount of items that will not be reclassified to profit and loss	5300000	2600000
2	Income tax relating to items that will not be reclassified to profit or loss	2200000	1500000
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	3100000	1100000

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			Consolidated
Part I	Blue color marked fields are non-mandatory.
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax			-76600000
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs			812100000
	Adjustments for decrease (increase) in inventories			0
	Adjustments for decrease (increase) in trade receivables, current			-205900000
	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			300500000
	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			2263200000
	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			-21800000
	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			-55400000
	Other adjustments to reconcile profit (loss)			75000000
	Other adjustments for non-cash items			89100000
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships			0
	Total adjustments for reconcile profit (loss)			3256800000
	Net cash flows from (used in) operations			3180200000
	Dividends received			0
	Interest paid			0
	Interest received			0
	Income taxes paid (refund)			-251500000
	Other inflows (outflows) of cash			0
	Net cash flows from (used in) operating activities			3431700000
	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			0
	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			0
	Purchase of property, plant and equipment			1808900000
	Proceeds from sales of investment property			0
	Purchase of investment property			0
	Proceeds from sales of intangible assets			50300000
	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			14100000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			217000000
	Net cash flows from (used in) investing activities	-1547500000
	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			2830300000
	Repayments of borrowings			1973900000
	Payments of lease liabilities			0
	Dividends paid			180100000
	Interest paid			425500000
	Income taxes paid (refund)			0
	Other inflows (outflows) of cash			-1728800000
	Net cash flows from (used in) financing activities			-1477200000
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes			407000000
	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			407000000
	Cash and cash equivalents cash flow statement at beginning of period			243900000
	Cash and cash equivalents cash flow statement at end of period			650900000