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Nov 10, 2017 12:16 PM IST | Source: CNBC-TV18

Focus on growing non-Mahindra biz; targeting 20% topline growth: Mahindra Logisctics

The company has managed to create a unique positioning in the industry and is an asset-light organization, said Pirojshaw Sarkari, CEO, Mahindra Logistics.

CNBC TV18 @moneycontrolcom

It was a tepid listing for Mahindra Logistics. The third party logistics (3PL) solutions provider raised Rs 829.35 crore through the issue, at higher end of price band of Rs 425-429 per share during. Out of which, Rs 247 crore had raised from anchor investors.

Pirojshaw Sarkari, CEO, Mahindra Logistics said they are delighted to have one more IPO from our group after nearly 10 years.

He said the company has managed to create a unique positioning in the industry and is an asset light organization.

For an asset light organization the important parameter to look at is return on equity (RoE) to our shareholders. The RoE of the company has been more than 30 percent as on March 31, 2017, he said.

Moreover, asset light model has helped the company grow rapidly and the non-Mahindra business has grown at 65 percent CAGR.

Focus will be to continue growing the non-Mahindra business going forward as well along with Mahindra business of course, said Sarkari.

According to him, the logistic industry is at a very formidable stage and the company would be take leadership position and help shape the industry, said Sarkari.

The company so far has been at a 25-30 percent revenue growth. Sarkari said they would target a 20% topline growth for the next 3 years.
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