mahindra Mahindra Logistics Limited

Arena Space, 10th & 11th Floor,

LOGISTICS Plot No, 20, Jogeshwari VikhroLi Link Road,
Near Majas Bus Depot, Jogeshwari (East),
Mumbai - 400060, Maharashtra.
TeL +91 22 6836 7900
Email enquiries-mtt@mahindra.com
www.mahindraLogistics.com
CIN: L63000MH2007PLC173466

Ref: MLLSEC/99/2023

24 July 2023

To,
BSE Limited, National Stock Exchange of India Ltd.,
(Security Code: 540768) (Symbol: MAHLOG)
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1,
Dalal Street, Fort, “G” Block, Bandra-Kurla Complex, Bandra (East),
Mumbai - 400 001 Mumbai – 400 051

Dear Sirs,

Sub: Earnings Presentation for the quarter ended 30 June 2023 - Regulation 30 of the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulation, 2015 (“SEBI Listing Regulations”)

In compliance with Regulation 30 read with Para 15(a) of Part A of Schedule III and other applicable
provisions of the SEBI Listing Regulations, please find enclosed herewith the Earnings Presentation
inter-alia, encompassing an overview of the Company, its operations and Financial Results for the
quarter ended 30 June 2023, subjected to Limited Review.

In compliance with Regulations 30 and 46 of the SEBI Listing Regulations, this intimation and the
earnings presentation are also being uploaded on the Company’s website and can be accessed at the
weblink: https://mahindralogistics.com/disclosures-under-sebi-regulation-46/

Kindly take the same on record.

Thanking you

For Mahindra Logistics Limited

RUCHIE
Digitally signed by: RUCHIE
RAVI KHANNA
DN: CN = RUCHIE RAVI
RAVI KHANNA C = IN O = PERSONAL
Date: 2023.07.24 20:32:37 +

KHANNA 05'30'

Ruchie Khanna
Company Secretary

Enclosure: As above

Regd. Office: Mahindra Towers, R K. Kurne Chowk, WorLi, Mumbai - 400018

Igniting Success I/
pu!LIOLLJ CJ 51151907

Investor Presentation
Business & Earnings Update
July 2023

it

IMO OD
F
1

Confidential 1
 Igniting Success*

Safe Harbor

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Mahindra Logistics Limited (the
“Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or
subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No
offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the
Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company
makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness,
fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the
information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly
excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that
are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are
subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not
limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the logistics industry
in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and
expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market
preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or
achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no
obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third
parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and
projections.

mahindra
LOGISTICS .. 2
 Igniting Success*

Company Overview

mahindra
LOGISTICS .. 3
 Igniting Success*

Purpose Vision
THANK YOU
ACCELERATING RISE to be a Rs. 10,000 crore logistics
COMMERCE
service provider by FY 2026; delivering
EMPOWERING exceptional customer experience through
COMMUNITIES TO
differentiated, technology enabled solutions
RISE

.
RP.

aS
4
 Igniting Success
Integrated supply chain logistics provider

z a
Contract Logistics 1' B2B Express
Providing Transportation, B2B express and PTL
Warehousing, Stores & Line Feed , transportation with pan
Fulfillment and VAS services India coverage

mallindra
A LOGISTICS
V
/14 Ir

te c4
Last Mile Delivery Freight Forwarding
Facilitates delivery to customers of Cross border freight forwarding
major e-com players and building business with expertise in
India’s largest 3W EV fleet ocean as well as air freight

mahindra
LOGISTICS .. 5
 Igniting Success

Multi service provider for mobility solutions

I
I
0 0
V& Az
Employee Transportation / AA Airport Services
Providing end-to-end employee / 4
transportation services
/ 4
Dedicated booking counter
with Kerb-side pickup
4 4
s mahindra v
Oft LOGISTICS 6d
47
4k gsf
qk dr
44 t
t C ‘

On Call Services Outstation

Customized hourly packages Flexible Rental packages with
pan India presence

mahindra
LOGISTICS .. 6
 Igniting Success
Macros are positive, continue to be driven by technology enhancements
and sustainable logistics
Industry Trends

Changing Channel Emerging demand Government policy Shift in global trade Higher demand for
landscape driven by clusters across Tier II support for logistics flows due to China+1 Integrated Solutions
changing customer / III cities strategy
behavior

Technology Shaping operations and decisions

ip Sustainability – Drive to net zero

mahindra
LOGISTICS .. 7
 Igniting Success*
MLL Strategy

3PL > Integrated Solutions

Strategic Platforms

Grow in profitable markets ▪ Increase focus on TCO vs purchased cost

▪ Create a MOAT with clients

▪ Access higher share-of-wallet

1 2 3 4

Expand Integrated Operations Digitization

Offerings Solutions Excellence & Expand Network Services
Innovation

▪ Express B2B

▪ Global Freight Forwarding

Customer Focus Business Partner Network ▪ Last Mile Delivery

Strategic Enablers
Asset Light Model Great Place to Work
▪ EV Cargo

mahindra
LOGISTICS .. 8
 Igniting Success 0

Presence in High Growth Segments (End-Markets)

▪ India is 4th largest automobile market in the world

Auto
& 01
▪
▪
Favorable ecosystem for exports & government support
25% contribution in contract logistics market
CA I:
Hero
Auto Components

▪ 10% contribution in contract logistics market

FMCG / Durables/ 02 ▪ Durables is growing at a 22% CAGR, to reach $22 Bn by 2025 PSG OO
Retail
▪ Govt support through allocation of $976 Mn in PLI schemes 0

Industrial & ▪ Demand driven by investments, capacity creation in core sectors

Engineering 03 ▪ Government Initiatives - 100% FDI, Make in India
▪ FY23-24 budget outlay of $120 Bn in infrastructure BOSCH

Ecommerce

ED
▪ Fastest growing industry in India, with a CAGR of 25%
04 zomato amazon
▪
▪
Ecom growth has led to rise in D2C & Last Mile Delivery
Significant outsourcing in FCs, SCs & Dark Store management
4
Mobility
05 ▪ Air travel is back to pre-covid levels
Allianz 0
▪ Office leasing is expected to grow at 20% CAGR WLPRO airtei
▪ Corporate employees are gradually moving to work from office

mahindra Note: The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only
LOGISTICS .. 9
 Igniting Success*

Business Updates

mahindra
LOGISTICS .. 10
 Igniting Success 0
Management Commentary

Mr. Rampraveen Swaminathan – Managing Director and CEO

“ In Q1 FY24, we continued focusing on customer growth and expanding margins across integrated
logistics & mobility solutions. Despite the slowdown in some end markets, the 3PL, Mobility and Last
Mile businesses demonstrated positive traction on order intake and account expansion. Our continued
focus on margin improvement resulted in positive traction in 2x2 Logistics, MLL Mobility and Zip Zap
Logistics. We implemented our integration program for the PTL business acquired from Rivigo. We
remain optimistic of positive demand uptick in coming quarters and remain focused on consolidating
and leveraging our portfolio.”

mahindra
LOGISTICS .. 11
 Igniting Success*
Business Highlights

Contract Logistics B2B Express Freight Forwarding Last Mile Delivery Mobility

-..-,-.---
01 02 03 04 05
il l

IIII
111
II
11

0
V
0 e
0

▪ 30% drop in Revenue

▪ Revenue up by 6% YoY & ▪ Revenue up by 82% ▪ Revenue up 13% YoY, ▪ Revenue up 39% YoY
YoY, %GM up by 56 bps
%GM up by 171 bps YoY YoY % GM up by 249 bps ▪ Airport network
▪ Slowdown in global
▪ Momentum from growth in ▪ Service levels back on ▪ Quick commerce expansion underway
economy impacting
Auto & Telecom business track network expansion slow ▪ Demand expected to
volumes
▪ Focus on increasing share ▪ Focus on volume due to funding winter improve in FY24 with
▪ Start of International air
of business from existing recovery from existing ▪ Focus on margins & return to office being
charter operations in
accounts customers synergy with Whizzard normalized
Dubai

mahindra
LOGISTICS .. 12
 Igniting Success

Contract Logistics - Key Trends & Opportunities

9
Logistics Sector Industry Structure Key Trends

oovto°°'° 2,400 ▪ Highly fragmented with top 10

▪ Higher Demand for Integrated
Solutions instead of piece-meal
players having ~15% share
Market Size (Rs. ‘000 Crore)

logistics services
1,400

▪ Emerging consumption centers

FY20 FY26 E ▪ ~65% of the sector constitutes of
driving new fulfilment models and
transportation
hubs in Tier 2 / 3 cities

3PL Business
Vio ▪ Rise of Multi-modal logistics with
150 ▪ Road transport accounts for nearly
Gati-Shakti & National Logistics
~75% of transportation
Policy
68

▪ 3PL penetration in India is just 5% ▪ Technology & Automation have

FY20 FY26 E vs. global average of 10% become critical differentiators

Source: Internal analysis, secondary research reports

mahindra
LOGISTICS .. 13

Contract Logistics - Core competency & capabilities
End to End transport
Warehousing solution
Manage WH with expertise in Centralized management
design and operations of all transportation
Efficient Space
Utilization
High density racking,
warehouse design
High Productivity
• Visibility
Mechanization and tech,
-
process improvements
Full Inventory Visibility
WMS integrated with
client ERP
•
fi VAS
Re-Packing, kitting,
labelling, co-packing
mahindra
LOGISTICS ..
Igniting Success
Integrated Solutions
solutions
Single point of contact
for E2E logistics
Improved Dispatch
Cost Optimization Plan
TMS enabled load I Visibility on inbound and
consolidation, route outbound trucks,
• • •
optimization resources accordingly
mobilized
Consignment
-
-
-
TMS with track & Addn. cost synergies
trace, alerts/updates Ability to consolidate
more loads, ad-hoc
SLA Adherence orders – reduced courier
Faster deliveries through
superior BA network and
Improved utilization of
tech interventions
100% Compliance
Safety, Statutory
1041 customer resources
Lower focus and time on
non-core functions
compliance
14
 Igniting Success

Contract Logistics - Operating Highlights

LOG

Space under
management -farr-171-FITT1
•

19 Operating
Mn. Sq. Ft. locations

t- 500+

Vehicles Deployed

15,000+
Trucks Business
Per month Associates
1,500+ _
• •

mahindra
LOGISTICS .. 15
 Igniting Success

B2B Express - Key Trends & Opportunities

B2B Express (Surface) Industry Structure Key Trends

ob,

24,000 ▪ Organized players account for ▪ Increasing demand for Direct to

~70% of volume Consumer, Omni-channel fulfillment
14,000
Market Size (Rs. Crore)

▪ Skewed load distribution, ~70% load ▪ Push for automation & process
FY22 FY26 E
is originated from North & West standardization to improve service
India quality

B2B Express (Air)

▪ Auto & Engineering (30%), Pharma ▪ High adoption by MSMEs & small
oio
(14%), Apparel & Lifestyle (13%) brands – Increased reach at lower
4,350
are major end-markets cost
3,200

▪ Increase in demand from smaller

▪ Air express is being increasingly
towns, share of tier-2&3 cities to
FY22 FY26 E
used by corporates to deliver
reach ~50% by 2025
Source: Aviral consulting, Indian chamber of commerce, Internal Analysis
mahinclra
LOGISTICS .. 16
 Igniting Success*
B2B Express - Core competency & capabilities

Significant Network Coverage

•

• t.
• •

•
▪ Pan India coverage - 19,000+ Pin-codes
•9.
• f.:.•• •
MC., •

.' •

•1,7-1-72 ▪ 300+ Processing Centers & Branches

•

0: Ta
•
•
• in
• • * •
•

.9. •

•
•
•
•
•
•
▪ 400+ partners for first mile & last mile connectivity
• .• .
•
• •••••IIMENIP
•
•
•

• •

. •
•
.
•
• 9 c.,9_a•
▪ 9.
Best in class technology suite
•

▪ ERP integrations for minimum manual interference​

m
„ri: • . •
• v* ▪ Billing technology for faster and accurate billing
• 9,•
▪ In-house automated sales management tool
Processing centers

mahindra Note: Maps not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness
LOGISTICS .. 17
 Igniting Success

B2B Express - Operating Highlights

Pin-code reach
RIVIGO BY
mahindra LOGISTICS.
19,000+ RMGO
pErtrigKup
Average Volume
30,000+
7
V 0 u
Tonnes 10

Transhipment Hubs 11.1111:14lb

‘.' .

& DCs Air

300+ Line Hauls & Mid-

mile
1,100+ RIVIGO
Trucks
•~.
_®

mahindra
LOGISTICS .. 18
 Igniting Success

Freight Forwarding - Key Trends & Opportunities

Freight Forwarding Industry Structure Key Trends

-V.
GP,G1 ▪ Highly fragmented, largely ▪ Near shoring on account of regional
64,000
dominated by companies with conflicts, reducing dependence on
45,600
turnover of < Rs.100 Cr China (China+1 strategy)
Market Size (Rs. Crore)

I FY22 FY26
▪ Top trading partners of India –
US, China, UAE, Europe
▪ PLI Scheme to boost
manufacturing in many sectors,
giving rise to exports

Ocean & Air Freight Split

▪ Few large players have presence ▪ Multiple trade agreements to
38% in major markets, small & mid- drive trade
sized players use agent network
62%
-•••••....MIL .A.M...---

▪ Rise of SaaS based Freight

Forwarders
• Ocean • Air

Source: TVS SCS, Delhivery DRHP, Internal Analysis

mahindra
LOGISTICS .. 19
 Igniting Success*
Freight Forwarding - Core competency & capabilities
Expanding International
Air Freight Ocean Freight Project Logistics
presence

A ^1

Yid NI L

► Airport-to-Airport ► Ocean consolidation: ► ODC solutions catering ► Expand presence in

USA /Europe /Asia to & to diverse industries China, UK, UAE
► Door-to-Door
from India ► Oil & Gas ► Develop Air chartering
► Expertise in OD, DG
► Direct FCL’s: All over the ► Mining business
shipments
world ► Access to Europe via UK
► Control on TAT ► Renewables
► Special equipment and office
► Advance & EPCG ► Engineering &
breakbulk handling
license liaison Manufacturing
► Controlling more than
► Single window solution 13,250 TEU's per annum
on customers clearance
► Committed Space and
Equipment

mahindra
LOGISTICS .. 20
 Igniting Success

Freight Forwarding - Operating Highlights

4,
Ii

Ocean Freight Rate

Index .r

Ocean Freight
~80%↓ Volume
vs Q1FY23
~3,000
TEUs in Q1 FY24

Air Freight Volume

No. of Forwarding
~2,150 Lanes
Tonnes in Q1 FY24
50+
Globally

mahindra
LOGISTICS .. 21
 Igniting Success

Last Mile Delivery - Key Trends & Opportunities

9
Last Mile Delivery, India Industry Structure Key Trends

▪ Last Mile is most expensive ▪ High growth in Micro fulfillment,

Olo
36,500
component of supply chain, ~50% sub same day delivery and dark
contribution in transportation cost store management
Market Size (Rs. Crore)

15,000

▪ Highly complexity coupled with ▪ Rapid Last mile Fleet

high service level requirements electrification; Demand dispersion
FY22 FY26 E & faster TAT expectations
LMD Segmentation by
End-markets
▪ High competition from startups & ▪ ONDC likely to disrupt LMD space
12%
18% 40% hyperlocal players

30%
▪ Different types of models in place – ▪ Increasing internet penetration,
Shift from Delivery as a Service to leading to rise in D2C & Quick
• FMCG • Ecom Retail • Others Distribution & Fulfilment solutions commerce
Source: Redseer Consulting Report, Internal Analysis
mahindra
LOGISTICS .. 22
 Igniting Success*

Last Mile Delivery – Strengthening our leadership position in EV

Vehicle as a Service
A

• Offer a fleet of vans (with drivers) to customers who

then use it as per their requirement -77

OWN
Distribution as a Service
tik

• Manage Last mile stations that receive, process,

* 6M
sort, route, allocate and do doorstep deliveries
144

Delivery as a Service t noun

• Offer fleet of bikes/ vans that pickup orders from

customers distribution Centers and do deliveries

Fulfilment as a Service
• Manage Micro fulfilment center that holds inventories,
processes orders and does distribution from it

mahindra
LOGISTICS .. 23
 Igniting Success 0

Last Mile Delivery - Operating Highlights

Volume handled

300,000+
orders per day Fleet Deployed

6,000+
Vehicles per day

Last Mile stations

140+ Geographic Reach ersei_ atom_

4,000+ •

Pin-codes Pan-
India PCS

mahindra
LOGISTICS .. 24
 Igniting Success

Mobility - Key Trends & Opportunities

Enterprise Mobility Industry Structure Key Trends

20,000
▪ Highly fragmented with large ▪ Recovery in Air passenger traffic,
14,000
unorganized supply growth in Business travel
Market Size (Rs. Crore)

Ili ▪ Shift from vendor model to ▪ Increasing adoption of organized

FY23 FY26 E
complete mobility solutions cab services over traditional taxi
provider

Airport
7,200 ▪ ITES, BPO & BFSI are the major ▪ Increasing demand for EV Fleet,
end-markets for enterprise with push from government &

L
5,000 mobility solutions incumbents alike
-•••••...,M, .A.M...---

▪ Lack of adequate public

infrastructure & increased traffic
FY23 FY26 E congestion

mahindra
LOGISTICS .. 25

Mobility - Core competency & capabilities
;
Enterprise Mobility Services
▪ Fleet Management
▪ Adherence to OTA & OTD
▪ 24 x 7 Call Centre
▪ Trained Drivers
Compliant Fleet
mahindra
LOGISTICS
4ar
Cab on Demand Services
▪ Semi Luxury Vehicle Options
▪ Mobile App Enabled Booking
▪ Flexible Rental Packages
▪ 24 x 7 Call Centre
▪ Certified Drivers
Service Excellence
Igniting Success
• r
I.
• -
,4v.Ipmx....1
Airport & Outstation Upkeep Services
▪ Assured Vehicles for Airport Transfers ▪ Fleet Management
▪ Comfort and Convenience ▪ Lowest TAT at Remote location
▪ 24 x 7 Call Centre ▪ 24 x 7 Call Centre
▪ Multi Channel Booking ▪ Client web Access
▪ Certified Drivers
Real Time Tracking & Execution Mobile based Billing
 Igniting Success*
Mobility - Operating Highlights

c
Revenue (Rs. Crores)
•

No. of Trips 76 80
65
15,000+ 57
Per day
No. of vehicles
deployed
5,000+
Per day Q1FY23 Q3FY23 Q4FY23 Q1FY24

No. of operating Gross Margin (Rs. Crores)

locations
200+
Pan India
I No. of supply
partners
12.3% 12.3% 9.2% 11.3%
•

350+ 9
Pan India 8
7 7

Q1FY23 Q3FY23 Q4FY23 Q1FY24

mahindra
LOGISTICS 27
 Igniting Success

Drive to Net Zero

Carbon Neutral by 3.2 3.2

Mn Mn
Sq Sq
Feet
Feet
2040 Solar Powered
Solar warehouses
Powered Warehouses

1,550+ EV ~2.8Million
~2.8 Million
3W and PCV GreenKM
Green KMwith
withEVs
EVs
\\

5 IGBC Gold & Platinum •Ili Accreditation

MENNi
Certified buildings
buildings Ecovadis - Bronze

5% reduction TCO2/E ~11 Million Kms

"*. Scope 1+ 2 per
per SBTI
SBTI Alternative fuels

*
Witszian 1,47,701 900+ Kg
Trees planted Waste Plastic Collected

mahindra
LOGISTICS .. 28
 Igniting Success*
CSR Updates

Health Check-up camps

Categories Q1 FY24 Activities Impact
•

Community Welfare Activities:

▪ Health Check-up camps
▪ 9,416 underprivileged people were
Building ▪ Blood Donation camps
benefited through various Plastic collection drive
Communities ▪ Plastic collection drive under •
community initiatives
Swachh Bharat Abhiyan
▪ Road Safety Activities

Tree Plantation
▪ Tree Plantation under Mahindra •
"TIM
Hariyali ▪ Planted saplings on World
Sustainability
▪ Plastic Recycle, Reuse awareness Environment Day
under Green Guardian project

mahindra
LOGISTICS .. 29
 Igniting Success

Awards and Recognition

Logistics Company of the year, ILSC Excellence in Corporate Governance, ICSI

Igniting Success loO. mahindra Igniting Success ►►

LOGISTICS

Igniting Si_la s,0 with Gcbcocl

Recognized for

2022 Promoting Culture &

Good Governance
Logistics Company of the Year
at
22n° ICSI National Awards for Excellence
mahindra LOGISTICS in Corporate Governance
ISCM
The Institute of Company Secretaries
of India (ISCI) •
A Recognition of All-round Excellence - Business
Growth, Contribution to Sustainability, Driver Welfare,
and Woman Empowerment

Overall Excellence in Supply Chain, CII Scale Awards Energy Excellence Large - Platinum, CII
Igniting Success 0.0.
LOGISTICS

, 4
Championship Award
- PLATINUM
for

Energy Excellence Large (Service)

1St. Cu National Competitiveness

E. Cluster Su rInrni, =OM=

CII
Confederation of Indlan Industry

-
mahindra
LOGISTICS .. 30
 Igniting Success*

Financial Update

mahindra
LOGISTICS .. 31
 Igniting Success
Quarterly Revenue Performance by Segment (Consolidated)

Rs. Crores

1,327 1,330
1,273 1,293
63 65
1,200 55 60 76 80
1,136 57 79 44 48
1,088 106
61 42 73 77
1,033 43 51 91
58 39 109 105 85
55
35 141 113 47
883
101 42
43 41
29 43
95
33

1052 1035 1,004

945 975
799 835 851
683

Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24

• Contract Logistics ■ B2B Express Freight Forwarding ■ Last Mile Delivery Mobility

mahindra
LOGISTICS .. 32
 Igniting Success*
Financial Highlights – Q1 FY24
Standalone Consolidated

19% 8% 10%
-2% Y-o-Y
Y-o-Y Y-o-Y
Y-o-Y
Revenue GM Revenue GM

Rs. 1,051 Crore Rs. 1,293 Crore Rs. 136 Crore

Rs. 131 Crore

63% 6% -164%
33% Y-o-Y
Y-o-Y Y-o-Y PAT
Y-o-Y
EBITDA PAT EBITDA

Rs. 23 Crore Rs. 73 Crore Rs. (9) Crore

Rs. 87 Crore

mahindra Note: EBITDA includes other income

LOGISTICS .. 33
 Igniting Success*
Entity wise results
Q1 Financial Performance Rs. Crores

Revenue EBITDA PAT

Particulars
Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23

MLL Standalone 1,050.9 1,068.9 86.9 65.5 23.0 14.0

Lords Freight 76.8 109.2 2.3 5.0 1.6 3.3

MLL Mobility 79.5 22.0 1.6 (0.5) (1.8) (2.2)

MLL Express 84.3 - (18.5) 0.2 (29.4) 0.2

2x2 Logistics 13.2 0.1 1.2 (1.3) 0.2 (1.7)

Whizzard - - - - (0.2) (0.4)

Consolidated 1,293.2 1,199.9 72.8 68.8 (8.5) 13.3

Note: For MLL Mobility, Q1FY24 financials include Alyte business along with Meru, where as Q1FY23 includes only standalone Meru business
mahindra
LOGISTICS .. 34
 Igniting Success*
Segment wise Financials Rs. Crore

SCM Mobility
•
6% 39%
Revenue from
Operations

1,214
80
57
1,143

Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24

SCM Mobility
• •
0 9%
i
34%
Gross Margin

127 9
116
7

Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24

mahindra
LOGISTICS 35
 Igniting Success*
SCM Financials (1/2) Rs. Crore

Contract Logistics B2B Express

6% 82%
Revenue from
Operations

1,004 85

47
945

Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24

Contract Logistics B2B Express

0 23%
i
Gross Margin

128 -0.4
105

-12.5
Q1 FY23 Q1 FY24
Q1 FY23 Q1 FY24

mahindra
LOGISTICS 36
 Igniting Success*
SCM Financials (2/2) Rs. Crore

Freight Forwarding Last Mile Delivery

•
-30% 13%
Revenue from
Operations

109
48
42
77

Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24

Freight Forwarding Last Mile Delivery

• •
-25% 79%
Gross Margin

10 3
8
2

Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24

mahindra
LOGISTICS 37
 Igniting Success*
Warehousing & solutions - Revenue, Yield

Warehousing Revenue (Rs Crore) Warehousing Yield (GM per sq. ft.)

C D
1
-11% 57%

266 21.7
238

13.8

Q1FY23 Q1FY24 Q1FY23 Q1FY24

Note: Warehousing Yield excluding MESPL space

mahindra
LOGISTICS 38
 Igniting Success*
Income Statement Rs. Crore

Particulars Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q

Revenue 1,293.2 1,199.9 7.8% 1,272.5 1.6%
Other Income 6.2 3.1 3.8
GM 135.9 123.2 10.3% 129.6
GM% 10.5% 10.3% 24 bps 10.2% 32 bps
Total Overheads 69.2 57.4 65.9
EBITDA 72.8 68.8 67.6 7.8%
EBITDA % 5.6% 5.7% (10 bps) 5.3% 32 bps
Depreciation & Amortization
Fixed assets 19.7 14.9 22.3
Lease (Ind AS) 34.8 26 33.0
EBIT 18.4 27.9 -34.2% 12.3 49.2%
Finance Cost
Finance charges 8.0 1.4 7.7
Lease (Ind AS) 9.8 7.6 9.2
PBT 0.6 19.0 -97.0% -4.6 -
Tax 8.9 5.3 -4.8
PAT (before JV) -8.3 13.6 0.2
PAT (After JV) -8.5 13.3 -163.8% -1.0 -
PAT% -0.7% 1.1% (176 bps) -0.1% (57bps )
Basic EPS (in INR) -1.19 1.88 -0.11

Note:
mahindra 1. Consolidated financials 2. All figures are in Rs crore, unless stated otherwise.
LOGISTICS 39
 Igniting Success*

Outlook & Priorities

mahindra
LOGISTICS .. 40
 Igniting Success 4
Building blocks in place to achieve the vision

Grow Integrated logistics business

Leverage acquisition to unlock growth

.4

Focus on margin expansion through productivity

improvement

•1 •

Build on Technology & Automation to become

critical differentiators

mahindra
LOGISTICS .. 41
 44 ssappris Sup.!ugi

Path to Value Creation

Path to Value
Path to ROE Core Growth
41lir -4111*
Creation 4 -41*

110441•4‘>, Leadership in contract

Rivigo Turnaround Monetize investments
logistics

44 Leverage synergies
between core business Integrated solutions Digital Platform
& acquisitions

Customer service
Margin expansion Partnerships
is excellence
)4,

18% Return on Equity by FY26

OJOUILIOLL
SDI-I-51901
.. 42
 Igniting Success*

Contact Us

Company : Investor Relations Advisors :

mahindra sGAStrategic Growth Advisors

LOGISTICS
CIN: L63000MH2007PLC173466
Mr. Rampraveen Swaminathan
Chief Executive Officer
CEO.MLL@mahindra.com
CIN: U74140MH2010PTC204285
Mr. Shogun Jain / Mr. Mandar Chavan
shogun.jain@sgapl.net /
mandar.chavan@sgapl.net
+91 77383 77756 / +91 96993 82195

www.sgapl.net
www.mahindralogistics.com

mahindra
LOGISTICS
.. 43
 Igniting Success*

THANK YOU
mahindra
LOGISTICS
Corporate Office
10 & 11 Floor, Arena Space
Plot No 20, Jogeshwari-Vikhroli Link Road,
Near Majas Depot, Jogeshwari (East)
Mumbai- 400 060
mahindra LOGISTICS
Maharashtra, India

C.I.N: L63000MH2007PLC173466
Email:
enquiries-mll@mahindra.com
12ttS RIVIGO alyte iiciamERU
Website :
www.mahindralogistics.com X
2 ?
SHIP)? WHItARD

44