MAHLOG - Mahindra Logistics Limited Share Price

Question 1

Alok Deora: "First is on the Express business. We saw strong traction there...what led to this kind of volume growth?"

Hemant Sikka: "Thank you, Alok. The volume growth is due to better execution and stronger customer engagement. We're monitoring internal dashboards daily, which helps improve service levels and customer satisfaction. The successful management of lane utilization and effective consolidation also contributed. We believe this volume growth is sustainable, and I'm confident we'll continue to perform well."

Question 2

Alok Deora: "...the EBITDA really has not moved much. When can we expect the breakeven?"

Hemant Sikka: "While we achieved gross margin improvement, we haven't hit EBITDA positivity yet. However, we are very close to breakeven. We are focused on executing well to drive better performance. The actions on ground are yielding results that we believe will lead us to profitability soon."

Question 3

Krupashankar: "What was Mahindra Group's contribution last year compared to this quarter?"

Isha Dalal: "The contribution from Mahindra was in a similar range last year, slightly lower. We've seen growth stemming from the Mahindra & Mahindra business, but we're also gaining traction in other verticals."

Question 4

Krupashankar: "Can you comment on the white space reduction progress by September '26?"

Hemant Sikka: "We remain committed to reducing white space by 95% by September. I can't provide specific numbers to avoid pricing pressure, but we're slightly ahead on our glide path and confident we will achieve this goal."

Question 5

Krupashankar: "What tonnage is required for EBITDA breakeven in the Express business?"

Hemant Sikka: "We don't want to think about turnaround solely in tonnage terms. Our focus is on both tonnage and yield, and maintaining good yields is crucial. We are optimizing our operations to make this business EBITDA positive soon."

Question 6

Jinesh Joshi: "Can you clarify the yield status in the B2B Express business?"

Hemant Sikka: "Our volume growth is on steady yield. While we improved yields in previous quarters, our current positive financial results stem from maintaining stable yields this quarter."

Question 7

Jinesh Joshi: "Is the Express business routed through Rivigo and what's the in-house versus outsourced proportion?"

Hemant Sikka: "We do serve Mahindra for Express business, but it's a small segment of our overall operations and mostly in-house. The exact percentage isn't significant."

Question 8

Achal Lohade: "What's the pricing scenario in 3PL and Express businesses?"

Hemant Sikka: "There's no significant pricing pressure in most areas except for last mile, where we see challenges. We continue to negotiate effectively with customers to address pricing issues as necessary."

Question 9

Vikram Suryavanshi: "Outlook on the non-Mahindra 3PL business?"

Hemant Sikka: "We're seeing good performance across all verticals, including e-commerce and consumer products. We expect strong customer acquisition and pipeline growth in these sectors."

Question 10

Disha: "What minimum margin threshold do you keep to avoid unviable orders?"

Isha Dalal: "We evaluate each customer contract rigorously to ensure economic viability, but we don't disclose specific thresholds for competitive reasons."

Question 11

Disha: "How do you see the non-auto mix changing in 1-2 years?"

Hemant Sikka: "We aim to grow across all segments, but the ratios depend on how well our clients are performing. Our focus remains on serving customers effectively."

Question 12

Navneet: "Will a vision statement for the company be shared soon?"

Hemant Sikka: "Absolutely, we are currently stabilizing operations, and once we have a strong foundation, we will work on our long-term vision and share it."