Latest news with #MahindraLogisticsLtd
Mint
21-04-2025
- Automotive
- Mint
Anand Mahindra congratulates ‘Hemant, Veejay, Velu' of Mahindra Logistics: ‘New leaders, but old hands'
Mahindra Group chairperson Anand Mahindra on Monday congratulated the new leaders after the conglomerate announced a shuffle in the leadership in Mahindra Logistics. 'New Leaders… But old hands at leadership…. Congratulations, Hemant, Veejay, Velu. May you continue to Rise! [sic],' he said in a post on X. Mahindra Group on Monday appointed Hemant Sikka managing director and chief executive of Mahindra Logistics Ltd (MLL). Sikka had been the president of the farm equipment business since 2020. 'Hemant is one of our top leaders and brings with him a powerful combination of strategic skills, operational rigour, customer centricity and people leadership capabilities,' the Mumbai-based auto giant said in a statement. Sikka will take over as the MD and CEO from May 5. The current CEO, Ram Swaminathan, has decided to step down to pursue other professional interests, the statement said. In place of Sikka, president of the automotive division Veejay Neekra will take over as president of the farm equipment business, which the company recognises as one of the largest and profitable businesses with a return on capital employed over 60 per cent. 'There is a huge opportunity for us to grow the business profitably through tractors, farm machinery, and globalization,' the company said in its statement. Both of them will continue to report to M&M Executive Director and CEO (Auto and Farm Sector) Rajesh Jejurikar. To replace Neekra, the company has appointed R. Veluswamy, president of automotive technology and product development, as the president of the automotive business. As part of the reshuffle, the company is also bringing the SUV and LCV business under one leader of the automotive business. Mahindra Logistics reported a smaller quarterly loss on Monday for the quarter ended March 31, helped by growth in its key contract logistics division and a narrower loss in its express commerce segment. It reported a consolidated net loss of ₹ 6.75 crore in the fourth quarter of FY25. The company reported 67 per cent year-on-year jump in standalone profit after tax (PAT) to ₹ 13.12 crore in three months to March over the same period last year. For the full fiscal 2024-25, standalone PAT declined 30 per cent to ₹ 43.50 crore from ₹ 61.98 crore in FY24 while revenue for the April-March period of last fiscal stood at ₹ 5,013 crore from ₹ 4,530 crore, a growth of 10 per cent year-on-year, in the same period year-ago, the company said. First Published: 21 Apr 2025, 10:59 PM IST
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Business Standard
21-04-2025
- Business
- Business Standard
Mahindra Logistics Q4 PAT jumps 67% YoY to ₹13.1 cr, revenue at ₹1,293 cr
Mahindra Logistics on Monday reported 67 per cent year-on-year jump in standalone profit after tax (PAT) to Rs 13.12 crore in three months to March over the same period last year. The standalone PAT for the March quarter of 2023-24 was recorded at Rs 7.86 crore, Mahindra Logistics Ltd said in a statement. Standalone revenue for the quarter under review stood at Rs 1,293 crore as compared to Rs 1,183 crore in the March quarter of FY 24. For the full fiscal 2024-25, standalone PAT declined 30 per cent to Rs 43.50 crore from Rs 61.98 crore in FY24 while revenue for the April-March period of last fiscal stood at Rs 5,013 crore from Rs 4,530 crore, a growth of 10 per cent year-on-year, in the same period year-ago, the company said. "During the quarter, we saw a positive trend of revenue growth, with YoY growth of 8 per cent driven by growth in 3PL logistics contract logistics and Express. For the full year, revenue grew by 11 per cent driven by account additions, new offerings and new launches," said Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. The B2B express business demonstrated volume recovery in the quarter, combined with cost management. Cross-border continues to see volatility in pricing, he said. Freight Forwarding business revenue grew 21 per cent YoY, supported by favorable freight rates in H1 and strong demand in the pharma sector and new client acquisitions, MLL said. It also said that the warehousing and integrated solutions business grew by 15 per cent YoY. The warehouse space under management stood at 20.8 million square feet. And added that the current expansion in Pune, Kolkata, Phaltan and Agartala remains on track. The company said it continued the focus on expanding capacity and making investments in the eastern and North-eastern region, focusing on warehouses, delivery stations and express logistics. "We are on track with new warehousing additions in Maharashtra, West Bengal, Guwahati and Tripura. We remain focused on expanding margins through share of solutions, cost management, and turnaround of the express business," Swaminathan added. The company said the 11 per cent year-on-year revenue growth was driven by strong performance in 3PL, last mile delivery (LMD), and cross border services, adding that the losses for express business were reduced by 21 per cent and EBITDA margin improved by 801 bps through effective cost optimization measures. Earlier in the day, the Mahindra & Mahindra Group announced the appointment of Hemant Sikka, President of the Farm Equipment Sector at M&M Ltd as the managing Director and CEO of Mahindra Logistics in place of Swaminathan. Ram Swaminathan, the company in a statement said, has decided to step down to pursue other professional interests.
Economic Times
21-04-2025
- Business
- Economic Times
Mahindra Logistics Q4 Results: Standalone profit jumps 67% to Rs 13 crore
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mahindra Logistics on Monday reported 67 per cent year-on-year jump in standalone profit after tax (PAT) to Rs 13.12 crore in three months to March over the same period last year. The standalone PAT for the March quarter of 2023-24 was recorded at Rs 7.86 crore, Mahindra Logistics Ltd said in a revenue for the quarter under review stood at Rs 1,293 crore as compared to Rs 1,183 crore in the March quarter of FY the full fiscal 2024-25, standalone PAT declined 30 per cent to Rs 43.50 crore from Rs 61.98 crore in FY24 while revenue for the April-March period of last fiscal stood at Rs 5,013 crore from Rs 4,530 crore, a growth of 10 per cent year-on-year, in the same period year-ago, the company said."During the quarter, we saw a positive trend of revenue growth, with YoY growth of 8 per cent driven by growth in 3PL logistics contract logistics and Express. For the full year, revenue grew by 11 per cent driven by account additions, new offerings and new launches," said Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics B2B express business demonstrated volume recovery in the quarter, combined with cost management. Cross-border continues to see volatility in pricing, he Forwarding business revenue grew 21 per cent YoY, supported by favorable freight rates in H1 and strong demand in the pharma sector and new client acquisitions, MLL also said that the warehousing and integrated solutions business grew by 15 per cent YoY. The warehouse space under management stood at 20.8 million square feet. And added that the current expansion in Pune, Kolkata, Phaltan and Agartala remains on company said it continued the focus on expanding capacity and making investments in the eastern and North-eastern region, focusing on warehouses, delivery stations and express logistics."We are on track with new warehousing additions in Maharashtra, West Bengal, Guwahati and Tripura. We remain focused on expanding margins through share of solutions, cost management, and turnaround of the express business," Swaminathan company said the 11 per cent year-on-year revenue growth was driven by strong performance in 3PL, last mile delivery (LMD), and cross border services, adding that the losses for express business were reduced by 21 per cent and EBITDA margin improved by 801 bps through effective cost optimization in the day, the Mahindra & Mahindra Group announced the appointment of Hemant Sikka, President of the Farm Equipment Sector at M&M Ltd as the managing Director and CEO of Mahindra Logistics in place of Swaminathan, the company in a statement said, has decided to step down to pursue other professional interests.
Time of India
21-04-2025
- Business
- Time of India
Mahindra Logistics Q4 Results: Standalone profit jumps 67% to Rs 13 crore
Mahindra Logistics on Monday reported 67 per cent year-on-year jump in standalone profit after tax (PAT) to Rs 13.12 crore in three months to March over the same period last year. The standalone PAT for the March quarter of 2023-24 was recorded at Rs 7.86 crore, Mahindra Logistics Ltd said in a statement. Standalone revenue for the quarter under review stood at Rs 1,293 crore as compared to Rs 1,183 crore in the March quarter of FY 24. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Explore Stylish Container Home Designs and Prices in the Philippines LocalPlan Search Now Undo For the full fiscal 2024-25, standalone PAT declined 30 per cent to Rs 43.50 crore from Rs 61.98 crore in FY24 while revenue for the April-March period of last fiscal stood at Rs 5,013 crore from Rs 4,530 crore, a growth of 10 per cent year-on-year, in the same period year-ago, the company said. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. "During the quarter, we saw a positive trend of revenue growth, with YoY growth of 8 per cent driven by growth in 3PL logistics contract logistics and Express. For the full year, revenue grew by 11 per cent driven by account additions, new offerings and new launches," said Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics Ltd. The B2B express business demonstrated volume recovery in the quarter, combined with cost management. Cross-border continues to see volatility in pricing, he said. Live Events Freight Forwarding business revenue grew 21 per cent YoY, supported by favorable freight rates in H1 and strong demand in the pharma sector and new client acquisitions, MLL said. It also said that the warehousing and integrated solutions business grew by 15 per cent YoY. The warehouse space under management stood at 20.8 million square feet. And added that the current expansion in Pune, Kolkata, Phaltan and Agartala remains on track. The company said it continued the focus on expanding capacity and making investments in the eastern and North-eastern region, focusing on warehouses, delivery stations and express logistics. "We are on track with new warehousing additions in Maharashtra, West Bengal, Guwahati and Tripura. We remain focused on expanding margins through share of solutions, cost management, and turnaround of the express business," Swaminathan added. The company said the 11 per cent year-on-year revenue growth was driven by strong performance in 3PL, last mile delivery (LMD), and cross border services, adding that the losses for express business were reduced by 21 per cent and EBITDA margin improved by 801 bps through effective cost optimization measures. Earlier in the day, the Mahindra & Mahindra Group announced the appointment of Hemant Sikka, President of the Farm Equipment Sector at M&M Ltd as the managing Director and CEO of Mahindra Logistics in place of Swaminathan. Ram Swaminathan, the company in a statement said, has decided to step down to pursue other professional interests.
