April 25, 2023

Mahindra Logistics FY23 revenue up 24%

While EBITDA increased to Rs 276 crore ($34 million), net profit was up at Rs 25 crore ($3 million) on 15% YoY growth in 3PL supply chain services
Rivigo acquisition expands Mahindra Logistics presence to over ~19,000 pin-codes across India. The integration is underway and expect to start realising cost reduction benefits from Q1FY24.
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Warehouse space under management stood at 19 million sq. ft. including all service lines. The company announced development of a new one million sq. ft. park at Chakan.
Despite slowdown in some end markets, our core 3PL business demonstrated positive traction on order intake and margin expansion, driven by our diversified market segments: Rampraveen Swaminathan, Mahindra Logistics
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