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Employees: 4,191
Size Mahindra Logistics (MAHLOG.NS) is an India Industrials company (Air Freight/Couriers) with a market value of $443M, the 890th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹421.10 on 6 Nov 2026.
Performance Over six months the shares gained 5.0%, against -12.5% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 20.3% over the last twelve months (peer median +2.8%); the operating margin is 2.1% (peer median 3.1%).
Valuation It trades at 34.9× forward earnings against a peer median of 26.9× (2nd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +17 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 8.0 points below its cost of capital (15.6% WACC).
Next results Next results expected around 1 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹77.9B | ₹70.0B | ₹61.0B | ₹55.1B | ₹51.3B |
| Revenue growth | — | +15% | +11% | +7% | — |
| Gross profit | ₹3.38B | ₹2.64B | ₹2.13B | ₹2.04B | ₹1.97B |
| EBITDA | ₹4.55B | ₹3.83B | ₹2.86B | ₹2.35B | ₹2.62B |
| Net income | ₹751M | ₹22.9M | -₹358M | -₹547M | ₹263M |
| Free cash flow | n/a | ₹946M | ₹1.21B | ₹1.28B | ₹357M |
| Capital expenditure | n/a | ₹1.39B | ₹1.81B | ₹709M | ₹710M |
| Total debt | ₹7.21B | ₹6.50B | ₹8.69B | ₹7.39B | ₹8.34B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MAHLOG.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.4% | -6.9% | 3rd highest of 21 |
| 6-month return | +5.0% | -12.5% | 3rd highest of 20 |
| Distance from 52-week high | -6.4% | -26.5% | highest of 21 |
| Revenue growth (TTM) | +20.3% | +2.8% | 4th highest of 21 |
| Operating margin | 2.1% | 3.1% | 9th lowest of 20 |
| Forward P/E | 34.9× | 26.9× | 2nd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 33.7% | 2.2% | 2nd most demanding of 13 |
| Growth delivered (Del g) | +16.5% | +4.7% | 2nd highest of 13 |
| Hurdle (Req g minus delivered) | +17.2 pp | -2.0 pp | 2nd most demanding of 13 |
| ROIC minus cost of capital | -8.0 pp | -2.3 pp | 4th lowest of 19 |
| EV / EBITDA | 10.1× | 9.3× | 5th most expensive of 11 |
| Net debt / EBITDA | 0.8× | 1.7× | 6th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mahindra Logistics MAHLOG.NS | India | $443M | +5% | +20% | 2% | 34.9× | 33.7% | +16.5% |
| Guangzhou Jiacheng International Logistics 603535.SS | China | $427M | -30% | -29% | -2% | n/a | 16.0% | -0.4% |
| HPF 300350.SZ | China | $465M | -13% | +73% | -5% | n/a | n/a | n/a |
| Shanghai Shine-Link International Logistics 603648.SS | China | $467M | -15% | +10% | 11% | n/a | -0.7% | +0.3% |
| Radiant Logistics RLGT | United States | $418M | +8% | +4% | 2% | 23.4× | 16.3% | +0.8% |
| PostNL PNL.AS | Netherlands | $473M | -16% | +2% | 1% | 30.5× | n/a | n/a |
| Sindhu Trade Links SINDHUTRAD.NS | India | $405M | -12% | -64% | 2% | n/a | n/a | n/a |
| Cedar Development 002485.SZ | China | $392M | -2% | -32% | -17% | n/a | n/a | n/a |
| Farglory Free Trade Zone Investment 5607.TW | Taiwan | $534M | 0% | +30% | 42% | 8.3× | -2.7% | +16.8% |
| Japan Transcity 9310.T | Japan | $538M | +15% | +1% | 7% | n/a | 1.3% | +4.4% |
| Bondex Supply Chain Management 603836.SS | China | $364M | -14% | +17% | 1% | n/a | n/a | n/a |
| Singapore Post S08.SI | Singapore | $546M | -17% | -73% | 3% | 77.5× | n/a | n/a |
| TVS Supply Chain Solutions TVSSCS.NS | India | $547M | -4% | +17% | 2% | 31.6× | 14.4% | +9.7% |
| Hichain Logistics 300873.SZ | China | $560M | -22% | +15% | 14% | 20.8× | 3.2% | +12.1% |
| COSCO Shipping International Singapore F83.SI | Singapore | $347M | -18% | +10% | 7% | n/a | 17.2% | +0.9% |
| Xiamen Xinde 000701.SZ | China | $568M | -3% | -22% | n/a | n/a | n/a | n/a |
| LEAP India LEAPIND.NS | India | $569M | n/a | +56% | 27% | n/a | n/a | n/a |
| Shanghai Ace Investment & Development 603329.SS | China | $341M | -19% | -60% | 10% | n/a | -6.5% | +10.9% |
| Guangdong Prolto Supply Chain Management 002769.SZ | China | $337M | -39% | -66% | -13% | n/a | 41.0% | -42.0% |
| Dimerco Express 5609.TWO | Taiwan | $333M | -1% | +2% | 4% | n/a | -15.9% | +5.3% |
| AIT 9381.T | Japan | $327M | -1% | +5% | 7% | n/a | -5.2% | +5.0% |