Sharekhan's research report on Mahindra Logistics
MLL reported an in-line operational performance for Q4FY2022 with consolidated revenues rising by 10% y-o-y with an improvement in OPM by 86bps q-o-q. The company expects H2FY2023 to show strong growth led by a revival in growth in auto and other end-user industries. The OPM is expected to inch up gradually. Over the longer term, rise in volumes, change in revenue mix, and lower impact of IND AS are expected to drive net earnings.
Outlook
We retain a Buy on the stock of Mahindra Logistics Limited (MLL) with a revised PT of Rs. 630, assigning a higher valuation multiple.
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