Capitaline

Sales of Supply Chain Management segment has gone up 17.64% to Rs 1,264.57 crore (accounting for 95.11% of total sales). Sales of Enterprise Mobility Service segment rose 6.44% to Rs 64.98 crore (accounting for 4.89% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has slumped 94.24% to Rs 3.55 crore. PBIT of Supply Chain Management segment fell 89.67% to Rs 5.97 crore (accounting for 168.17% of total PBIT). PBIT of Enterprise Mobility Service reported loss of Rs 2.42 crore compared to profit of Rs 3.85 crore.

PBIT margin of Supply Chain Management segment fell from 5.38% to 0.47%. PBIT margin of Enterprise Mobility Service segment fell from 6.31% to 3.72%. Overall PBIT margin fell from 5.43% to 0.27%.

Nine month performance

Net sales (including other operating income) of Mahindra Logistics has increased 26.33% to Rs 3855.78 crore. Sales of Supply Chain Management segment has gone up 26.86% to Rs 3,670.71 crore (accounting for 95.20% of total sales). Sales of Enterprise Mobility Service segment rose 16.55% to Rs 185.07 crore (accounting for 4.80% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has slumped 12.78% to Rs 162.68 crore. PBIT of Supply Chain Management segment fell 12.26% to Rs 157.50 crore (accounting for 96.82% of total PBIT). PBIT of Enterprise Mobility Service segment fell 26.11% to Rs 5.18 crore (accounting for 3.18% of total PBIT).

PBIT margin of Supply Chain Management segment fell from 6.20% to 4.29%. PBIT margin of Enterprise Mobility Service segment fell from 4.41% to 2.80%. Overall PBIT margin fell from 6.11% to 4.22%.

Operating profit margin has jumped from 4.35% to 5.08%, leading to 47.60% rise in operating profit to Rs 196.04 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 0.24% to 0.17%. Employee cost decreased from 7.70% to 6.65%. Other expenses rose from 87.71% to 88.10%. Freight charges rose from 85.57% to 85.66%.

Other income rose 65.11% to Rs 12.02 crore. PBIDT rose 48.51% to Rs 208.06 crore. Provision for interest rose 67.42% to Rs 34.64 crore.

PBDT rose 45.23% to Rs 173.42 crore. Provision for depreciation rose 31.03% to Rs 134.25 crore.

Profit before tax grew 131.09% to Rs 39.17 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 11.95 crore, compared to Rs 8.17 crore. Effective tax rate was 31.77% compared to 48.20%.

Minority interest decreased 4.35% to Rs -1.44 crore. Net profit attributable to owners of the company increased 166.73% to Rs 27.10 crore.

Promoters’ stake was 58.10% as of 31 December 2022 ,compared to 58.18% as of 31 December 2021 .

Quarter ended

Year to Date

Year ended

Particulars

202212

202112

Var.(%)

202212

202112

Var.(%)

202203

202103

Var.(%)

Net Sales (including other operating income)

1,329.55

1,136.00

17.04

3,855.78

3,052.23

26.33

4,140.76

3,263.72

26.87

OPM (%)

4.72

3.99

73 bps

5.08

4.35

73 bps

4.45

4.11

34 bps

62.74

45.34

38.38

196.04

132.82

47.60

184.27

134.22

37.29

Other Inc.

5.58

2.88

93.75

12.02

7.28

65.11

13.58

17.47

-22.27

PBIDT

68.32

48.22

41.68

208.06

140.10

48.51

197.85

151.69

30.43

Interest

14.97

7.52

99.07

34.64

20.69

67.42

29.82

20.09

48.43

PBDT

53.35

40.70

31.08

173.42

119.41

45.23

168.03

131.60

27.68

Depreciation

49.8

37.5

32.80

134.25

102.46

31.03

141.72

89.65

58.08

PBT

3.55

3.20

10.94

39.17

16.95

131.09

26.31

41.95

-37.28

Share of Profit/(Loss) from Associates

-0.56

-1.56

0.01

-0.39

PBT before EO

2.99

3.2

-6.56

37.61

16.95

121.89

26.32

41.56

-36.67

EO Income

-2.75

PBT after EO

2.99

3.2

-6.56

37.61

16.95

121.89

26.32

38.81

-32.18

Taxation

1.88

2.05

-8.29

11.95

8.17

46.27

11.25

10.02

12.28

PAT

1.11

1.15

-3.48

25.66

8.78

192.26

15.07

28.79

-47.66

Minority Interest (MI)

-0.28

-0.62

54.84

-1.44

-1.38

-4.35

-2.49

-1.21

-105.79

Net profit

1.39

1.77

-21.47

27.1

10.16

166.73

17.56

-41.47

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

1.39

1.77

-21.47

27.1

10.16

166.73

17.56

-41.47

EPS (Rs)*

0.19

0.25

-21.47

3.77

1.41

166.73

2.44

4.46

-45.35

* EPS is on current equity of Rs 71.98 crore, Face value of Rs 10, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year to Date

Year ended

% of (Total)

202212

202112

Var.(%)

% of (Total)

202212

202112

Var.(%)

% of (Total)

202203

202103

Var.(%)

Sales

Supply Chain Management

95.11

1,264.57

1,074.95

17.64

95.20

3,670.71

2,893.44

26.86

95.12

3,938.68

3,144.64

25.25

People Transport Solution

0.00

Enterprise Mobility Service

4.89

64.98

61.05

6.44

4.80

185.07

158.79

16.55

4.88

202.08

119.08

69.70

Total Reported Sales

100.00

1,329.55

1,136.00

17.04

100.00

3,855.78

3,052.23

26.33

100.00

4,140.76

3,263.72

26.87

Less: Inter segment revenues

0.00

Net Sales

100.00

1,329.55

1,136.00

17.04

100.00

3,855.78

3,052.23

26.33

100.00

4,140.76

3,263.72

26.87

PBIT

Supply Chain Management

168.17

5.97

57.80

-89.67

96.82

157.50

179.51

-12.26

96.80

243.48

222.35

9.50

People Transport Solution

0.00

Enterprise Mobility Service

-68.17

-2.42

3.85

3.18

5.18

7.01

-26.11

3.20

8.05

3.07

162.21

Total PBIT

100.00

3.55

61.65

-94.24

100.00

162.68

186.52

-12.78

100.00

251.53

225.42

11.58

Less : Interest

0.00

1.21

4.34

3.42

26.90

4.68

5.29

-11.53

Add: Other un-allcoable

0.00

-57.24

-119.17

-166.15

28.28

-220.54

-180.93

-21.89

PBIT Margin(%)

Supply Chain Management

0.47

5.38

-490.49

4.29

6.20

-191.33

6.18

7.07

-88.90

People Transport Solution

0.00

Enterprise Mobility Service

-3.72

6.31

-1,003.05

2.80

4.41

-161.57

3.98

2.58

140.55

PBT

100.00

3.55

3.20

10.94

100.00

39.17

16.95

131.09

100.00

26.31

39.20

-32.88