Mahindra Logistics Ltd. (MLL), one of India’s large 3PL solutions providers, has announced its audited consolidated financial results for the quarter and full year ended on March 31, 2021.
It recorded revenue of Rs. 974 crores in Q$ FY21 as compared to Rs. 812 crores Q4 of last year, whereas EBITDA was Rs. 51 crores as compared to Rs. 41 crores last year.
In the overall performance for FY21, it recorded a revenue of Rs. 3,264 crores as compared to Rs. 3,471 crores last year. Its EBITDA was Rs. 152 crores in FY21 as compared to Rs. 172 crores last year.
The Board of Directors has recommended an increased dividend of 25% (Rs. 2.50 per share).
The company recorded 20% growth in overall quarterly revenue, despite continuing softness in the Enterprise Mobility segment, due to Covid related volume reductions. Growth in the Supply Chain segment during the quarter at 28% YoY, sustained by increased business volume across end markets served.
Its revenue from warehousing services & solutions grew 12% over the same period last year with continued focus on solutions-led approach to customer’s requirements.
Positive traction observed post launch of “EDel”: Electric last mile delivery solution. The Company saw a strong demand environment with opportunity for continuing fleet deployment.
Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said, “We delivered continuing growth in Q4, FY20-21, driven by market recovery and execution of our strategy of providing customized, integrated solutions to our customers. Our revenue growth was driven by E-commerce, Consumer, Automotive and Freight Forwarding businesses. Strong momentum in the Supply Chain has offset the continuing softness in the Enterprise Mobility segment, which remains impacted by the Covid-19 pandemic. We continue to expand and grow our service lines.”
During the quarter, ‘Edel’, its 100% electric powered vehicles solution, commenced operations in the last mile delivery services.
“We are again witnessing a significant increase in the spread of the Covid-19 pandemic. In this challenging environment, we are focused on the safety & health of our employees and partners. We are also partnering with local authorities and supporting Covid-19 relief activities across multiple regions.”