23/4/2025, 12:28:02 pm

Hold Mahindra Logistics; target of Rs 287: Prabhudas Lilladher

Mahindra Logistics' top-line missed estimates by 7% due to lower 3PL demand, but EBITDA margin was in line at 5.0%. B2B express losses narrowed to Rs511mn in FY25 from Rs803mn in FY24. Management aims for EBITDA break-even by 2QFY26E, needing ~6K tons/month volume growth. The stock is rated HOLD with a target price of 287.