Mahindra Logistics share price today

Mahindra Logistics Ltd's share price was ₹416.55 at the close on 4 November 2026. It has been rising for 37 weeks. That is 8.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹290 and ₹432, and at that close it sat 89% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Mahindra Logistics Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 9 years the share price moved +6% while the NIFTY 500 moved +144%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), highest quarterly profit in 16 quarters and profit up on a year earlier for 5 quarters in a row.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹2,095 crore, +24.3% on a year earlier.

2. Highest quarterly profit in 16 quarters

   Profit of ₹29 crore in the September 2026 quarter is the highest of the last 16 quarters.

3. Profit up on a year earlier for 5 quarters in a row

   In the September 2026 quarter profit was ₹29 crore, +462.5% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), Mahindra Logistics reported revenue of ₹2,095 crore, up 24.3% from ₹1,685 crore a year earlier, and a profit of ₹29.0 crore, against a loss of ₹8.00 crore a year earlier.

Mahindra Logistics results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Mahindra Logistics' management discussed these results on a call held on 23 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Mahindra Logistics closed at ₹416.55 on 4 November 2026, up 21.8% from ₹341.95 a year earlier (7 November 2025) and down 31.9% over five years. Its highest weekly close since November 2017 was ₹699.14 on 27 August 2021.

Mahindra Logistics share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

476 weekly closes from 10 November 2017 to 4 November 2026.

4 Nov 2026: Mahindra Logistics closed at ₹416.55, up 1.1% on the week and up 0.0% on the month. 23 Oct 2026: Mahindra Logistics held its results call for July to September 2026. Management guided: Consolidated gross margin improvement of about 100 basis points from FY26 exit over the medium term, not within two quarters or one year.

Earlier

• Results for July to September 2026: Revenue up 24.3% on a year earlier.
• 10 Jul 2026: ex-date for a dividend of ₹2.50 a share.

Mahindra Logistics paid ₹2.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.60% at the ₹416.55 close on 4 November 2026. The last was a dividend of ₹2.50 a share, ex-date 10 July 2026.

Mahindra Logistics dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Mahindra Logistics Ltd paid out 1,083% of its profit as dividends in FY26, and it paid a dividend in 7 of its last 13 reported years. 2 of those years show a negative figure because profit itself was negative.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 23 October 2026, Mahindra Logistics' management guided: Consolidated gross margin improvement of about 100 basis points from FY26 exit over the medium term, not within two quarters or one year.

“You will not see that improvement within 2 quarters or within 1 year. You will see it only over the medium term, and there will be positives and negatives along the way.”Isha Dalal, CFO, on the call for July to September 2026

What management guided

• FY27 capital spending close to ₹100 crore, plus or minus ₹10 crore; about half spent in H1 and plan on track.
• MSPL profit positivity identified as the next milestone, expected through execution over the next few months and quarters.
• Last-mile delivery year-on-year revenue growth expected from October to December 2026 after portfolio recalibration.
• Freight forwarding H2FY27 framed as a rebuild phase, with results expected to emerge in FY28.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 23 October 2026.

When Mahindra Logistics reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: MSPL operating profit remains positive as volume contribution begins to supplement yield-led improvement.

Mahindra Logistics is on one of our India lists: Momentum stocks.

Mahindra Logistics Ltd earned ₹29.0 Cr of net profit in the Sep 2026 quarter. Full-year FY26 profit was ₹11.0 Cr. Over 10 years profit has grown −11.2% a year on average. That is 1.4% of the quarter's revenue. The same quarter a year earlier lost ₹8.0 Cr. 8 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Mahindra Logistics Ltd reported ₹2,095 Cr of revenue in the Sep 2026 quarter, +24.3% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 13.0% a year on average. The last full year, FY26, came in at ₹6,999 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹7,787 Cr.

FY26 revenue was ₹6,999 Cr, +14.6% on the year before.

Recent pace: the last four quarters grew +20.2% on average, against 13.0% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +20.3%, against +16.0% a year over the last 8 quarters (accelerating).

Mahindra Logistics Ltd's operating margin was 6.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 2.5% and 5.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +0.9 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 1,106% of Mahindra Logistics Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹254 Cr of operating cash against ₹11.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹473 Cr of spending on assets, free cash was −₹219 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 1,106% of profit came in as cash: the cash cycle got 18 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: no single use of cash stands out. The next section checks both the cash tied up in daily operations and the spending on assets.

Mahindra Logistics Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 36 days in FY26, down from 54 days in FY21. It spent ₹1,050 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹6,999 Cr, each day of that cycle ties up about ₹19.2 Cr, so roughly ₹690 Cr is tied up in the business at any time.

Spending on assets: ₹1,050 Cr over the last 3 years, against ₹713 Cr of depreciation (the yearly wear and tear on existing assets). So it is building a little beyond replacing what wears out. Work still in progress is ₹24.0 Cr (FY26): assets paid for that are not earning yet.

In short: neither the daily cycle nor new spending is soaking up the cash, so the picture is fairly clean.

Mahindra Logistics Ltd's P/E is 54.4×, near the low end of its own history: it has been lower only 22% of the time. Its usual P/E (the middle reading) is 103.2×, over 9 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹7.56.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.

Where the price move came from: over 5 years the price moved −7.4% a year; about +12.9% a year came from earnings growth and about −20.3 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 38% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Mahindra Logistics Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 9 quarters of 2 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: with too little history, we say so rather than guess a direction.

The latest quarter’s profit includes a one-off item bigger than the normal business, so the profit line is shown but does not count in this reading.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

There are fewer than eight usable quarters, so this page does not guess a direction from so little history.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Mahindra Logistics Ltd earned a ROCE of 7% in FY26. That is up from a low of 3% in FY24. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 0.2% net margin and 2.25× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 0.2% net margin × 2.25× asset turnover × 2.64× leverage (assets divided by equity) ≈ 1.2% on equity. The margin does its share; borrowing is a big part of it.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 38% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Mahindra Logistics Ltd had ₹650 Cr of borrowings against ₹1,175 Cr of equity in FY26, so its debt is 0.55× its equity. Its operating profit is 5 times its interest bill. Over 5 years borrowings went from ₹269 Cr to ₹650 Cr. Over the last 3 of those years it spent ₹1,050 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 38% on reported income across 16 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Domestic institutions cut their stake in Mahindra Logistics Ltd by 4.4 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 13.8% of the company. Promoters moved +1.5 points over the same period, to 59.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Domestic institutions: −4.4 points over 8 quarters, to 13.8%; Promoters: +1.5 points over 8 quarters, to 59.5%; Foreign institutions: +0.4 points over 8 quarters, to 5.3%.

Why the owners changed: domestic institutions drove it (−4.4 points), with the other side taken by promoters (+1.5 points). They reduced their stake.

For Mahindra Logistics Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

54.8 out of 100, rank 4 of 8 in Logistics - Warehousing/Supply Chain, with 67% of the evidence available.

Mahindra Logistics Ltd scores 54.8 out of 100 against the 8 companies it is compared with in Logistics - Warehousing/Supply Chain, ranking 4. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 18.7 + 7.3 + 9.8 + 19 = 54.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Mahindra Logistics ranks 4 of 8 Logistics - Warehousing/Supply Chain companies on the 4-Factor Sector Score, with 54.8 out of 100.