• Sales of Supply Chain Management segment has gone up 6.21% to Rs 1,213.76 crore (accounting for 93.86% of total sales).  Sales of Enterprise Mobility Service segment rose 39.01% to Rs 79.46 crore (accounting for 6.14% of total sales).  
• Profit before interest, tax and other unallocable items (PBIT) has slumped 99.28% to Rs 0.57 crore.  PBIT of Supply Chain Management segment fell 97.03% to Rs 2.23 crore (accounting for 391.23% of total PBIT).  PBIT of Enterprise Mobility Service reported loss of Rs 1.66 crore compared to profit of Rs 3.90 crore.  
• PBIT margin of Supply Chain Management segment fell from 6.56% to 0.18%.  PBIT margin of Enterprise Mobility Service segment fell from 6.82% to 2.09%.  Overall PBIT margin fell from 6.57% to 0.04%.  

Full year results analysis.

Net sales (including other operating income) of Mahindra Logistics has increased 23.85% to Rs 5128.29 crore.  Sales of Supply Chain Management segment has gone up 23.59% to Rs 4,867.72 crore (accounting for 94.92% of total sales).  Sales of Enterprise Mobility Service segment rose 28.94% to Rs 260.57 crore (accounting for 5.08% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 37.16% to Rs 158.05 crore.  PBIT of Supply Chain Management segment fell 36.83% to Rs 153.80 crore (accounting for 97.31% of total PBIT).  PBIT of Enterprise Mobility Service segment fell 47.20% to Rs 4.25 crore (accounting for 2.69% of total PBIT).  

PBIT margin of Supply Chain Management segment fell from 6.18% to 3.16%.  PBIT margin of Enterprise Mobility Service segment fell from 3.98% to 1.63%.  Overall PBIT margin fell from 6.07% to 3.08%.  

Operating profit margin has jumped from 4.45% to 5.07%, leading to 40.97% rise in operating profit to Rs 259.76 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 0.24% to 0.13%.   Employee cost decreased from 7.60% to 6.91%.   Other expenses rose from 87.71% to 87.89%.   Freight charges fell from 85.49% to 85.41%.   

Other income rose 16.72% to Rs 15.85 crore.  PBIDT rose 39.30% to Rs 275.61 crore.  Provision for interest rose 72.94% to Rs 51.57 crore.  Loan funds rose to Rs 834.05 crore as of 31 March 2023 from Rs 402.42 crore as of 31 March 2022.  Inventories declined from Rs 1.43 crore as of 31 March 2022 to Rs 0.41 crore as of 31 March 2023.  Sundry debtors were higher at Rs 652.49 crore as of 31 March 2023 compared to Rs 488.90 crore as of 31 March 2022.  Cash and bank balance declined from Rs 134.33 crore as of 31 March 2022 to Rs 126.23 crore as of 31 March 2023.  Investments declined from Rs 117.75 crore as of 31 March 2022 to Rs 99.87 crore as of 31 March 2023.  

PBDT rose 33.33% to Rs 224.04 crore.  Provision for depreciation rose 33.71% to Rs 189.5 crore.  Fixed assets increased to Rs 610.57 crore as of 31 March 2023 from Rs 532.39 crore as of 31 March 2022.  Intangible assets increased from Rs 28.09 crore to Rs 246.55 crore.  

Profit before tax grew 31.28% to Rs 34.54 crore.  Provision for tax was expense of Rs 7.12 crore, compared to Rs 11.25 crore.  Effective tax rate was 22.43% compared to 42.74%.

Minority interest increased 33.73% to Rs -1.65 crore.  Net profit attributable to owners of the company increased 49.66% to Rs 26.28 crore.  

Cash flow from operating activities decreased to Rs 119.40 crore for year ended March 2023 from Rs 190.98 crore for year ended March 2022.  Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 71.03 crore, compared to Rs 106.21 crore during the year ended March 2022.  

Promoters’ stake was 58.04% as of 30 June 2023 ,compared to 58.12% as of 30 June 2022 .  Promoters’ stake was 58.09% as of 31 March 2023 ,compared to 58.18% as of 31 March 2022 .  

Equity capital increased from Rs 71.87 crore as of 31 March 2022 to Rs 71.98 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.