Mahindra Logistics Ltd (MLL) reported a consolidated revenue of ₹1,791 crore for Q4 FY26, as compared to ₹1,570 crore in the corresponding quarter last year. EBITDA stood at ₹112 crore, up from ₹78 crore.
Return to profit In Q4
The company posted a profit after tax (PAT) of ₹20.2 crore in Q4 FY26, compared to a loss of ₹6.7 crore in Q4 FY25. Diluted earnings per share (EPS) came in at ₹2.03, as against a negative ₹0.90 in the year-ago period.
FY26 performance marks turnaround year
For FY26, Mahindra Logistics recorded consolidated revenue of ₹6,999 crore, as compared to ₹6,105 crore in FY25, reflecting steady growth. EBITDA rose to ₹376 crore from ₹284 crore.
Profitability restored after two years
The company clocked an operational PAT of ₹8.2 crore for FY26, compared to a loss of ₹35.8 crore in FY25, while reported PAT stood at ₹2.3 crore. Diluted EPS was ₹0.25, compared to a negative ₹4.78 in the previous fiscal, marking a return to profitability after two years.
Growth driven across business verticals
Mahindra Logistics delivered strong revenue growth of 15% in FY26, driven across business verticals. Operating and financial discipline played a key role in improving profitability and overall performance.
Express business gains momentum
The Express business recorded a 25% year-on-year revenue growth, supported by network optimization, yield improvement initiatives, cost control, and enhanced Network Service Levels (NSL). The segment reported a positive gross margin of 1.3% in FY26.
Freight forwarding and mobility drive expansion
Freight Forwarding demonstrated resilience with 14% revenue growth and a 48% rise in EBITDA, driven by margin expansion and improved customer penetration. The Mobility segment recorded a 22% increase in revenue and a 45% growth in EBITDA, aided by B2B portfolio expansion and the launch of Alyte Prive, a premium tech-enabled B2C mobility service.
Last mile and warehousing strengthen operations
Last Mile Delivery (LMD) continued to strengthen its presence by exiting unviable businesses and focusing on high-potential areas. In Q4 FY26, the segment generated an EBITDA of ₹2.2 crore, compared to a loss of ₹1 crore in Q3 FY26. Warehousing operations maintained scale with 20.4 million square feet under management, alongside ongoing portfolio optimization.
CEO on transformation journey
Managing Director and CEO Hemant Sikka 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.”
Focus on market leadership and technology
He added that the company continues to see strong growth in e-commerce and quick commerce, and remains committed to becoming the #1 logistics services provider in India through technology-led solutions and a strong customer-centric approach.