Internal auditor K N Vaidyanathan ceases at Mahindra Logistics

K N Vaidyanathan has ceased to be the Internal Auditor of mahindra logistic effective from the close of business hours on 30 June 2026. The cessation follows the conclusion of his term as the Group Chief Internal Auditor of Mahindra and Mahindra Limited, the holding company. The company acknowledged his contributions during his tenure.

The disclosure was submitted to BSE Limited and National Stock Exchange of India Ltd. in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30 January 2026.

Details of Cessation

The following table outlines the specific details regarding the change in the internal auditor position as per regulatory requirements.

Sr. No.	Details of Events	Cessation of Mr. K N Vaidyanathan
a.	Reason for change	Cessation upon conclusion of term as Group Chief Internal Auditor of Mahindra and Mahindra Limited, Holding Company.
b.	Date of cessation	Close of business hours on 30 June 2026.
c.	Brief profile	Not applicable
d.	Disclosure of relationships	Not Applicable
e.	Information pursuant to exchange circulars	Not Applicable

The company has confirmed that the intimation is available on its official website. Jignesh Ashok Parikh, Company Secretary, signed the disclosure on 30 June 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.19%	+0.21%	+12.13%	+25.82%	+11.52%	-25.37%

Mahindra Logistics Limited has scheduled its 19th Annual General Meeting for Monday, 20 July 2026 at 3:30 p.m. IST via Video Conferencing. The company has fixed Friday, 10 July 2026 as the record date for a final dividend of ₹2.50 per equity share, subject to shareholder approval. The meeting will consider the re-appointment of Mr. Ameet Pratapsinh Hariani as an Independent Director and approve Material Related Party Transactions with Mahindra & Mahindra Limited up to ₹4,880 crores.

Financial Performance: Return to Profitability

Mahindra Logistics returned to consolidated profitability in FY 2025-26 after two consecutive years of losses. Consolidated revenue rose 14.65% year-on-year to ₹6,999.30 crores, while consolidated EBITDA grew 32.54% to ₹376.47 crores. The company reported a consolidated Profit After Tax (PAT) of ₹10.57 crores compared to a loss of ₹30.00 crores in the previous year. Standalone revenue increased 13.16% to ₹5,671.98 crores, with a standalone PAT of ₹43.02 crores.

Metric	FY 2025-26	FY 2024-25
Consolidated Revenue	₹6,999.30 crores	₹6,104.83 crores
Consolidated EBITDA	₹376.47 crores	₹284.05 crores
Consolidated PAT	₹10.57 crores	₹(30.00) crores
Standalone Revenue	₹5,671.98 crores	₹5,012.56 crores
Standalone PAT	₹43.02 crores	₹43.50 crores

Segment-wise and Subsidiary Performance

The 3PL Contract Logistics segment contributed 78.44% of total revenue, growing 15.74% to ₹5,490.32 crores. The Express Services segment grew 25.08% to ₹448.83 crores, achieving Gross Margin positivity in the second quarter. Subsidiaries contributed 18.96% of consolidated revenue. Key subsidiary Lords Freight (India) Pvt. Ltd. reported a revenue of ₹343.46 crores and a PAT of ₹7.35 crores.

Rights Issue and Balance Sheet

The company completed a Rights Issue in August 2025, raising ₹749.27 crores. Proceeds were used to repay standalone borrowings, reducing debt from ₹150 crores to nil. As on 31 March 2026, cash and bank balance and liquid investments stood at ₹271.90 crores. ICRA Limited reaffirmed the credit ratings at [ICRA]AA(Stable)/[ICRA]A1+.

AGM and Voting Details

Remote e-voting commences on Wednesday, 15 July 2026 at 9:00 a.m. IST and closes on Sunday, 19 July 2026 at 5:00 p.m. IST. The cut-off date for voting is Monday, 13 July 2026. The Integrated Annual Report for FY 2025-26 was dispatched electronically on 23 June 2026.