Mahindra Logistics Limited (MLL), a leading third-party logistics solution provider, has announced significant changes in its leadership team. The company's Board of Directors, in a meeting held on August 26, 2025, approved key transitions in the role of Chief Financial Officer (CFO).

Resignation of Saurabh Taneja

Mr. Saurabh Taneja, the current CFO of Mahindra Logistics, has decided to step down from his position to pursue career opportunities outside the company. His last day of service will be September 19, 2025. In his resignation letter, Taneja expressed gratitude to his fellow leadership team, Board Members, and the entire MLL team for their support during his tenure.

Appointment of Isha Dalal

Taking the reins from Taneja will be Ms. Isha Dalal, who has been appointed as the new Chief Financial Officer and Key Managerial Personnel of Mahindra Logistics, effective September 22, 2025. Dalal brings with her a wealth of experience in finance and strategic planning.

Isha Dalal's Professional Background

Dalal joins MLL from her current role as SVP and Head of Group FP&A at Mahindra Group, where she has been responsible for financial planning, forecasting, budgeting, and capital allocation. Her experience includes:

• Serving as Chief Risk Officer at Mahindra Group
• Previous experience as a member of the Finance Leadership Team at Hindustan Unilever
• Investment experience in consumer and consumer tech businesses at Multiple Private Equity fund
• Over 15 years of diverse experience in media, investment banking, private equity, and corporate finance

Dalal holds an MBA in Finance from Columbia University, New York, adding to her impressive credentials.

Board Approval and Regulatory Compliance

The changes in leadership were approved by the MLL Board of Directors based on recommendations from the Nomination and Remuneration Committee and approval from the Audit Committee. This transition adheres to the regulatory requirements set by the Securities and Exchange Board of India (SEBI) Listing Regulations.

Looking Ahead

With this transition, Mahindra Logistics aims to continue its growth trajectory in the competitive logistics sector. Isha Dalal's appointment is expected to bring fresh perspectives to the company's financial strategies, leveraging her extensive experience across various sectors of finance and management.

The smooth transition in the CFO role underscores Mahindra Logistics' commitment to maintaining strong financial leadership and corporate governance standards. As the company moves forward, stakeholders will be keen to observe how this change in financial leadership might influence MLL's strategic direction and financial performance in the coming years.

Mahindra Logistics Limited (MLL) has seen its parent company, Mahindra & Mahindra Limited (M&M), strengthen its position by increasing its shareholding from 57.97% to 59.60% through a rights issue subscription. This strategic move, completed on August 18, 2025, demonstrates M&M's commitment to its logistics business and confidence in MLL's future prospects.

Rights Issue Details

The Rights Issue Committee of Mahindra Logistics approved the allotment of 2,70,49,301 fully paid-up equity shares with a face value of Rs. 10 each. M&M acquired 1,73,00,670 shares, representing an additional 1.63% stake in MLL. Following this transaction, M&M now holds a total of 5,91,12,927 shares in Mahindra Logistics.

Impact on Share Capital

As a result of the rights issue, Mahindra Logistics' total equity share capital has seen a significant increase:

Subsidiary Investments

In conjunction with the rights issue, Mahindra Logistics has also approved investments in two of its wholly-owned subsidiaries:

1. MLL Express Services Private Limited (MESPL):

   • Investment of up to Rs. 263.86 crore
   • Subscription to 26,38,60,000 equity shares at par value of Rs. 10 each

2. V-Link Freight Services Private Limited:

   • Investment of up to Rs. 2.02 crore
   • Subscription to 20,20,000 equity shares at par value of Rs. 10 each

These investments are aimed at repaying debt in the respective subsidiaries, aligning with the objectives outlined in MLL's Letter of Offer dated July 17, 2025.

Strategic Implications

The increased stake in Mahindra Logistics underscores M&M's confidence in the logistics sector and its commitment to strengthening its presence in this growing industry. By injecting capital into its subsidiaries, MLL is positioning itself to optimize its operations and potentially enhance its market competitiveness.

As the logistics industry continues to evolve, particularly in the wake of changing global supply chain dynamics, M&M's strategic move to consolidate its hold on MLL could prove beneficial in capturing emerging opportunities in the sector.

The rights issue and subsequent investments reflect a broader strategy to streamline operations, reduce debt, and position the Mahindra Group's logistics arm for future growth in India's dynamic and expanding logistics market.