Mahindra Logistics Limited has announced a change in its senior management personnel due to an internal group movement. Mr. Ankur Bansal, currently the Head – Strategy & Transformation, will cease to hold this position and will no longer be a Senior Management Personnel of the company effective 31 May 2026.

The transition is part of the Mahindra group's internal talent mobility practices. Consequently, Mr. Bansal is set to join MLL Express Services Private Limited, a wholly-owned subsidiary of the company, as its Chief Executive Officer with effect from 1 June 2026.

This leadership change at the subsidiary level follows the resignation of Mr. Prasanna Pahade, the outgoing Chief Executive Officer of MLL Express Services Private Limited. Mr. Pahade resigned effective 31 May 2026 to pursue professional interests outside the group, with his last day of employment scheduled for 24 July 2026.

Details of Management Change

The company provided specific details regarding the cessation of the Senior Management Personnel in its regulatory filing.

The company confirmed that the event occurred on 19 May 2026 at 9:45 a.m. IST. The information has been disseminated to the stock exchanges and is available on the company's official website.

Mahindra Logistics Limited has achieved a significant milestone by returning to profitability in FY26 after two consecutive years of losses, marking a successful operational turnaround driven by disciplined execution and strategic focus on profitable growth.

Financial Performance Highlights

The company delivered strong financial results across key metrics, demonstrating the effectiveness of its transformation initiatives.

The company introduced adjusted EBITDA metrics to provide clearer visibility into operational performance by accounting for rent expenses of long-term leases under Ind AS 116. Adjusted EBITDA margin expanded from 2.4% to 3.2% in Q4 FY26.

Express Business Turnaround

The Express business (MESPL) demonstrated remarkable improvement throughout FY26, achieving significant operational milestones.

The business achieved sequential gross margin improvement for three consecutive quarters, moving from INR20 lakh in Q2 FY26 to INR2.7 crores in Q3 FY26 and INR6.6 crores in Q4 FY26. Management indicated the business is approaching EBITDA breakeven, with volume growth in the mid-to-high teens range and improved yield management driving performance.

Segment-wise Performance

Contract Logistics

The Contract Logistics segment maintained steady growth with revenue of INR5,490 crores in FY26, up 16% from the previous year. Q4 FY26 revenue reached INR1,381 crores, representing 12% year-on-year growth. Reported EBITDA for the segment increased 24% to INR389 crores, reflecting improved operational efficiencies and focus on profitable customers.

Freight Forwarding

The Freight Forwarding business achieved 14% revenue growth for the full year, with Q4 FY26 revenue of INR89 crores, up 17% year-on-year. Gross margins expanded significantly by 50% in Q4, driven by improved trade flows and operational leverage. Full-year EBITDA improved from INR6.8 crores in FY25 to INR10.1 crores in FY26.

Mobility Business

The Mobility segment recorded strong performance with FY26 revenue of INR386 crores, up 22% from INR316 crores in FY25. Q4 FY26 revenue grew 42% year-on-year, with gross margins increasing 17%, driven by significant scale-up in large B2B accounts.

Operational Excellence Initiatives

The company made substantial progress in optimizing its operational footprint and improving efficiency metrics. White space reduction remained a key focus area, with the company achieving a reduction of 9 lakh square feet in FY26, bringing total white space down from 1.6 million square feet to 0.7 million square feet. Management reaffirmed its commitment to the September 2026 target for achieving 95% white space reduction.

The e-commerce and quick commerce business scaled meaningfully, reaching more than INR1,000 crores in annual revenue, reinforcing the company's position in fast-growing segments of the logistics ecosystem.

Strategic Outlook

Management emphasized a focus on sustainable, profitable growth rather than short-term revenue expansion. The company plans to enter new segments within Contract Logistics to improve mix and profitability, with decisions expected during the current fiscal year. Technology investments in the Express business are planned for FY27 to support continued growth and operational efficiency.

The transformation has strengthened the company's competitive position, with improved customer satisfaction levels and enhanced service delivery capabilities across all business segments.