Company Valuation: Mahindra Logistics Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 36,266 25,501 29,452 18,870 33,021 41,698 - -
Change - -29.68% 15.49% -35.93% 75% 26.28% - -
Enterprise Value (EV) 1 37,779 31,908 36,542 26,700 36,292 45,803 46,133 45,936
Change - -15.54% 14.53% -26.93% 35.93% 26.21% 0.72% -0.43%
P/E 98.2x 97.3x -53.8x -52.6x 1,331x 36.7x 25x 19.9x
PBR 6.14x 4.54x 5.98x 4.31x 2.81x 3.39x 3.04x -
PEG - -3.3x 0x 1.5x -13x 0x 0.5x 0.8x
Capitalization / Revenue 0.89x 0.5x 0.53x 0.31x 0.47x 0.51x 0.45x 0.4x
EV / Revenue 0.93x 0.62x 0.66x 0.44x 0.52x 0.56x 0.5x 0.45x
EV / EBITDA 19.1x 12.3x 16x 9.4x 9.64x 9.14x 7.7x 6.49x
EV / EBIT 59.8x 45.4x 182x 46.3x 36.8x 22.4x 16.5x 12.8x
EV / FCF 40.2x 66x 23.4x 16.5x 31.7x 13.7x 11.9x 9.25x
FCF Yield 2.49% 1.52% 4.27% 6.08% 3.16% 7.29% 8.38% 10.8%
Dividend per Share 2 2 2.5 2.5 2.5 2.5 2.5 2.5 -
Rate of return 0.4% 0.71% 0.61% 0.96% 0.75% 0.59% 0.59% -
EPS 2 5.14 3.64 -7.6 -4.97 0.25 11.46 16.82 21.1
Distribution rate 38.9% 68.7% -32.9% -50.3% 1,000% 21.8% 14.9% -
Net sales 1 40,830 51,283 55,060 61,048 69,993 81,637 92,222 103,126
EBITDA 1 1,977 2,598 2,290 2,840 3,765 5,011 5,988 7,076
EBIT 1 631.5 702.6 200.5 577.2 986 2,046 2,792 3,588
Net income 1 370.7 262.8 -547.4 -358.5 22.9 1,138 1,669 2,090
Net Debt 1 1,512 6,406 7,090 7,830 3,271 4,105 4,435 4,238
Reference price 2 504.60 354.30 408.85 261.60 332.80 420.25 420.25 420.25
Nbr of stocks (in thousands) 71,872 71,977 72,036 72,131 99,222 99,222 - -
Announcement Date 4/26/22 4/24/23 4/22/24 4/21/25 4/23/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
36.67x0.56x9.14x0.59% 435M
25.27x8.07x15.78x0.81% 76.42B
20.95x6.79x13.95x2.15% 73.02B
35.8x2.56x15.17x-.--% 20.28B
24.26x1x17.13x1.71% 17.19B
35.61x1.51x9.46x1.26% 10.36B
55.94x - - - 10.54B
16.73x1.24x5.7x1.52% 9.03B
18.13x3.57x6.45x1.44% 5.74B
30.11x0.91x7.84x1.26% 5.48B
Average 29.95x 2.91x 11.18x 1.19% 22.85B
Weighted average by Cap. 26.25x 5.66x 14.04x 1.33%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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