Mahindra Logistics Limited — Earnings Release 2020

Feb 5, 2020

Our Ref: MLLSEC/23/2020

Date: 5 February 2020

To. BSE Limited (Security Code: 540768) Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai-400 001

National Stock Exchange of India Ltd., (Symbol: MAHLOG) Exchange Plaza, 5^th Floor, Plot No. C/1, "G" Block, Bandra - Kurla Complex, Bandra (East) Mumbai -400 051

Dear Sirs,

Mahindra Logistics Limited Unit No. 3 & 4, 7^th Floor, Techniplex 2, Techniplex Complex, Veer Savarkar Marg, Goregaon (West). Mumbai - 400 062

Tel: +91 22 28715500 Toll Free: 1800 258 6787 Mahindralogistics.com

Regd Office Mahindra Towers, P. K. Kurne Chowk, Worli, Mumbai - 400 018

CIN: L63000MH2007PLC173466

Sub: Newspaper Publication - Regulation 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations")

Ref: Outcome of Board Meeting vide letter dated 4 February 2020

In compliance with Regulation 47 and other applicable provisions of the Listing Regulations, please find enclosed newspaper publication, in prescribed format, of the Unaudited Consolidated Financial Results for the 3^rd quarter and nine months ended 31 December 2019 (subjected to limited review), approved by the Board of Directors of Mahindra Logistics Limited at their Meeting held on Tuesday, 4 February 2020, published today i.e. on Wednesday, 5 February 2020 in the Newspapers viz. -Business Standard (English) and Sakal (Marathi).

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Kindly take the above on record and acknowledge receipt of the same.

Thanking you, For Mahindra Logistics Limited

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Briibala Batwal Company Secretary

Enclosures: As above

Mahindra
MAHINDRA LOGISTICS LIMITED Registered Office: Mahindra Towers, P.K. Kurne Chowk, Worli, Mumbai - 400018 Website: www.mahindralogistics.com E-mail: cfo.mll@mahindra.com Tel No: +91 22 24901441 Fax No: +91 22 2490 0833 CIN: L63000MH2007PLC173466
EXTRACT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER, 2019			(Rs. in Crores)
Particulars	Quarter Ended 31-Dec-19 Unaudited	Nine Months Ended 31-Dec-19 Unaudited	Quarter Ended 31-Dec-18 Unaudited
Total Revenue from Operations	907.93	2,659.38	981.12
Net Profit for the period (before Tax, Exceptional items and/or Extraordinary	21.34	67.76	30.87
items) Net Profit for the period before Tax (after Exceptional and/or Extraordinary	21.34	67.76	30.87
items) Net Profit for the period after Tax (after Exceptional and/or Extraordinary	15.67	45.65	19.34
items but before share of profit/(loss) of Joint venture) Net Profit for the period after Tax (after Exceptional and/or Extraordinary	15.50	45.21	19.19
items and after share of profit/(loss) of Joint venture)
Attributable to Shareholders of the company Attributable to Non-Controlling Interests	15.55 (0.05)	45.39 (0.18)	19.16 0.03
Total Comprehensive Income for the period [Comprising profit for the period (after tax) and other Comprehensive Income (after tax)]
Attributable to Shareholders of the Company	15.61	45.55	19.11
Attributable to Non-Controlling Interests Equity Share Capital (Face value Rs 10/- per share)	(0.05) 71.48	(0.18) 71.48	0.03 71.37
Earnings per share (Face value Rs 10/- per share)
Basic Earnings per share (Rs) Diluted Earnings per share (Rs)	2.17	6.35	2.69
2013 read with Rules framed thereunder and Regulation 33 of SEBI Listing Regulations, as amended from time to time. During the quarter ended 31st December, 2019 the Company has allotted 36,720 equity shares of Rs. 10 each fully paid-up, on exercise of stock options by employees under the MLL-Key Executive Stock Option Scheme, 2012. During the quarter ended 31st December, 2019 the Company granted 1,28,313 Restricted Stock Units (RSU's) under the Mahindra Logistics Employee
Restricted Stock Unit Plan 2018 and also approved grant of 40,000 RSU's w.e.f 1st February, 2020 under the same Scheme. Effective 1st April, 2019 the Group has adopted Ind AS 116 "Leases" and applied the standard to all lease contracts existing on 1st April, 2019 using the modified retrospective method on the date of initial application. Consequently, the group recorded the lease liability and right of use assets at the present value of the lease payments discounted at the incremental borrowing as on date of initial application. Resultantly, the figures for the current period are not comparable with the previous periods.
Reconcillation for the effects of the transition on the Statement of Profit and loss for the quarter and Nine Months ended 31st December, 2019 is as follows:			(Rs. in crores)
Quarter Ended 31-Dec-19 Particulars		Nine Months Ended 31-Dec-19
Comparable Basis Ind-AS 116 Effect	As Reported	Comparable Basis Ind-AS 116 Effect	As Reported
Revenue from operations 908.06 Other income 1.98	(0.13) 907.93 2.01 0.03	2,659.76 (0.38) 10.77 0.10	2,659.38 10.87
Operating Expenses 779.51	(12.67) 766.84	2,288.95 (34.88)	2,254.07
19.82 Other Expenses	18.52 (1.30)	57.14 (3.20)	53.94
Depreciation and amortisation expense 6.49	12.33 18.82	17.72 33.68	51.40
1.05 Finance Cost Profit Before Tax 23.02	3.22 4.27 (1.68) 21.34	2.83 9.14 72.78 (5.02)	11.97 67.76
Unaudited Standalone Financial Results for the quarter and nine months ended 31st December, 2019 are as under:
	Quarter Ended	Nine Months Ended	Quarter Ended
Particulars	31-Dec-19	31-Dec-19	31-Dec-18
Total Income	Unaudited	Unaudited	Unaudited
Profit before tax	859.53 21,45	2,523.50 67.50	(Rs. in Crores) 940.25 30.81

The above is an extract of the detailed format of the said Financial Results for the quarter and nine months ended 31st December, 2019 filed
with the Stock Exchanges under Regulation 33 of the SEBI Listing Regulations. The

11333184 Place : Mumbai

Date: 4th February, 2020

For Mahindra Logistics Limited
Sd/-
Zhooben Bhiwandiwala
Chairman
DIN: 00110373

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	MAHINDRA LOGISTICS LIMITED
	Registered Office: Mahindra Towers, P.K. Kurne Chowk, Wodi, Mumbai - 400018 Website: www.mahindralogistics.com E-mail: do.m11(0.)mahindra.com
	Tel No: +91 22 24901441 Fax Nm+91 22 2490 0833 CIN: L63000MH2007PLC173466
EXTRACT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FORTHEQUAFaERAND NINE MONTHS ENDED 31ST DECEMBER, 2019				i
		Quarter Ended	Nine Months Ended	(RS. In Croies) Quarter Ended_
. Particulars		31-Dec-19 Unaudited	31-Dec-19 , Unaudited_	31-Dec-18 : Unaudited '
Total Revenue from Operations Net Profit for the period (before Tax, Exceptional items and/or Extraordinary		907.93	,' ,' 2,659.38	981.12
Items) Net Profit for the period befoM Tax (after Exceptional and/or Extraordinary		21.34	67.76	30.87
Items)		21.34	67.76	- 30.87 ,
Net Profit for the period after Tax (after Exceptional and/or Extraordinary items but before share of profit/(loss) of Joint venture)		15.67	45.65	19.34 -
Net Profit for the period after Tax (after Exceptional and/or Extraordinary Items and after share of prafit/(oss) of Joint venture)		. 15.50	45.21 :	19.19
Attributable to Shareholders of the company Attributable to Non-Controlling Interests		15.55 (0.05)	4539'x' (0.1 8)	19.16`. 0.03
Total Comprehensive income for the period (Comprising profit for the
period (after tax) and other Com prehen sNe'income (after tax)) Attributable to Shareholders of the Company		15.61	45.55	19.11
Attributable to Non-Controlling Interests Equity Share Capital (Face value Rs 10/- per share)		(0.05) 71,48	(0.18) 71.48	0.03 71.37
Earnings per share (Face value Rs 10/- per share) Basic Earnings per share (Rs)		2.17	6.35	2.69
Diluted Earnin s - en share R		117	6.32	2.68
on 4th February. 2020.1n compliance with the SEW (Listing Obligations and Disclosure Requirements) Regulations, 2015, ('SEBI Listing Regulations') a --. limited review of thesaidresults hasbeen cardedrutby the Statutory Atirli6rs of the Company. 2 Thesaid Financial Results have been prepared and published In accordanCeSvith the Indian Accounting Standards, Section 133 of the Companies Act, 2013 read with Rules framed thereunder and Regulation 33 of SEW ListingRegulations, as amended from time to time. During the quarter ended 31st December, 2019 the Company has allotted 36,720 equity shares of Rs. to each fully paid-up, anexercise of stock options by employees under the MIL-Key Executive Stodc Option Scheme. 2011 4 During the quarter ended 31st December, 2019 the Company granted 1,28,313 Restricted Stock Units (RSU's) under the Mahlndra logisticsEmployee -	,		1 been ieviewedand recommended by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held
RestriitedStock Unit Plan 2018 and also approved grant of 40,000 RSU's wef 1st February,2020 under the same Scheme. 5 EffectNe- 1st April, 2019 the Group has adopted Ind AS 116 'Leases' and applied the standard to all lease contracts eidsting on .1,s1AprIl, 2019 using the modified retrospective method on the date of initial application. Consequently, the group recorded the lease liability and right: -' of useassets at the present value of the lease payments discounted at the Incremental borrowing as on date of initial application. Resultantly, the figures for the current period are not comparable with the previous periods.
Reconciliation for the effects of - the transition on 'the Statement of Profit and loss for the quarter and Nine Months ended 31st December, 2019 Is as follows:
	alterEnded
Particulars	it_i _ 31-Dec-19		lineMonihsEnded 31-Dec-19	(Rs. In crones)
Revertudfromoperations	Corgarable Basis led-iLS116Effed 908.06 (0.13)	miteaorted 907.93	Comparable Basis Ind-A8116Effect 2,659.76 (03B)	As Reverted 2,659.38
09terTricorne 00.etating_Expenses	0.03 ' 1.98 779.51 (12.67) 0	2.01 766.84	10.77 0.10 2,288.95 (34.88)	10.87 _1254.07
Oilier Expenses Depreciation and amortisation expense	19.82 11.30) 1233 6.49	18.52 18.82	(330) 57.14 17.72 33.68
Finance Cost Profit Before Tax	1.05 3.22	4.27	2.83 9.14	53.94 51.40 11.97
6 Unaudited Standalone Financial Results for the quarter and nine months ended 31st December, 2019 areas under:	23.02 57.68).	21.34	(5.02) 72.78	67.76
				(Rs. in Crones)
Particulars	--.	'- Quarter Ended .3T-Liet-19	Nine Months Ended 31-Dec-19	Quarter Ended 31-Dec-18
Total Income		'Unaudited - 859.53	Unaudited . 2,523.50	Unaudited • 940.25
Profit before tax Profit after tax		21.45 1577	6750 - 45A5`	30.81
Total Comprehensive income 7 The above is an extract of the detailed format of the said Financial Results fo the quarter and nine months- ended 31st December, 2019 filed		15.83	45.61' '.	19.15 19.10