Mahindra Logistics Limited — Earnings Release 2021

Apr 29, 2021

==> picture [185 x 64] intentionally omitted <==

Our Ref: MLLSEC/78/2021

29 April 2021

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

==> picture [172 x 169] intentionally omitted <==

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,

Sub: Press Release - Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Pursuant to Regulation 30 and other applicable provisions of the Listing Regulations, please find enclosed press release on the Annual Audited Financial Results of Mahindra Logistics Limited (“the Company”) for the financial year ended 31 March 2021, approved by the Board of Directors of the Company at their Meeting held today viz. Thursday, 29 April 2021.

This intimation is also being uploaded on Company’s website https://www.mahindralogistics.com

Kindly take the same on record and acknowledge receipt.

Thanking you, For Mahindra Logistics Limited

==> picture [74 x 42] intentionally omitted <==

Brijbala Batwal Company Secretary

Enclosure: As above

==> picture [578 x 85] intentionally omitted <==

==> picture [179 x 65] intentionally omitted <==

==> picture [142 x 36] intentionally omitted <==

Mahindra Logistics Ltd.

Corporate Office: 1A & 1B, 4th Floor, Techniplex 1, Techniplex Complex, Veer Savarkar Flyover, Goregaon West, Mumbai – 400062 CIN: L63000MH2007PLC173466

Press Release

Mahindra Logistics Q4 FY21 Revenue at Rs. 974 Cr up 20% over Q4 FY20,

PAT (before exceptional items) Rs. 14 Cr, up 47% YoY

Mumbai, April, 29, 2021 : Mahindra Logistics Ltd. (MLL), one of India’s large 3PL solutions providers, today announced its audited consolidated financial results for the quarter and full year ended on March 31, 2021.

Q4 FY21 performance compared with Q4 FY20

• Revenue Rs. 974 crores as compared to Rs. 812 crores last year

• EBITDA Rs. 51 crores as compared to Rs. 41 crores last year

• PBT Rs. 16 crores as compared to Rs. 13 crores last year

• PAT (before Exceptional Item) Rs 14 crores, compared to Rs. 10 crores last year

• Reported PAT Rs. 12 crores as compared to Rs 10 crores last year

• EPS (Diluted) Rs. 1.74 as compared to Rs. 1.35 last year

FY21 performance compared with FY20

• Revenue Rs. 3,264 crores as compared to Rs. 3,471 crores last year

• EBITDA Rs. 152 crores as compared to Rs. 172 crores last year

• PBT Rs. 39 crores as compared to Rs. 81 crores last year

• PAT (before Exceptional Item) Rs 31 crores as compared to Rs. 55 crores last year

• Reported PAT Rs. 29 crores as compared to Rs. 55 crores last year

• EPS (Diluted) Rs. 4.16 as compared to Rs. 7.67 last year

The Board of Directors has recommended an increased dividend of 25% (Rs. 2.50 per share)

Note: During the quarter and year ended March 31, 2021, the company has, as an exceptional item in its consolidated financials, recognised an aggregate impairment loss of Rs. 2.75 Cr (March 31, 2020: Rs. Nil) on its investment in joint venture considering the performance of the joint venture company, Transtech Logistics Pvt Ltd.

Page | 1

MLL Q4 FY2021 Press Release

==> picture [178 x 66] intentionally omitted <==

==> picture [87 x 23] intentionally omitted <==

Key Highlights

• Recorded 20% growth in overall quarterly revenue, despite continuing softness in Enterprise Mobility segment, due to Covid related volume reductions.

• Growth in Supply Chain segment during the quarter at 28% YoY, sustained by increased business volume across end markets served.

• Revenue from Warehousing services & solutions grew 12% over the same period last year with continued focus on solutions-led approach to customer’s requirements.

• Positive traction observed post launch of “EDel”: Electric last mile delivery solution. The Company sees strong demand environment with opportunity for continuing fleet deployment.

Commenting on the performance, Mr. Rampraveen Swaminathan, Managing Director and CEO of Mahindra Logistics, said ,

“We delivered continuing growth in Q4, FY20-21, driven by market recovery and execution of our strategy of providing customized, integrated solutions to our customers. Our revenue growth was driven by E-commerce, Consumer, Automotive and Freight Forwarding businesses. Strong momentum in Supply Chain has offset the continuing softness in the Enterprise Mobility segment, which remains impacted by the Covid-19 pandemic. We continue to expand and grow our service lines. During the quarter, ‘Edel’, our 100% electric powered vehicles solution, commenced operations in the last mile delivery services.

We are again witnessing a significant increase in the spread of the Covid-19 pandemic. In this challenging environment, we are focused on safety & health of our employees and partners. We are also partnering with local authorities and supporting Covid-19 relief activities across multiple regions.”

About Mahindra Logistics

Mahindra Logistics Limited (MLL) is an integrated third-party logistics (3PL) service provider, specializing in supply chain management and enterprise mobility (people transport solutions). Founded more than a decade ago, MLL serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an “asset-light” business model, providing customised and technology enabled solutions that span across the supply chain and people transport operations. MLL is part of the Mobility Services Sector of the Mahindra Group.

For more information, visit www.mahindralogistics.com

Page | 2

MLL Q4 FY2021 Press Release

==> picture [178 x 66] intentionally omitted <==

==> picture [87 x 23] intentionally omitted <==

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 200,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

For more information please contact:

Yogesh Patel (CFO) Shogun Jain / Vinit Vora Mahindra Logistics Ltd. Strategic Growth Advisors Pvt Ltd Tel: +91 22 2871 5500 Tel: +91 77383 77756 / +91 98205 19303 Email: CFO.MLL@mahindra.com Email : shogun.jain@sgapl.net vinit.vora@sgapl.net

DISCLAIMER:

Certain statements and opinions with respect to the anticipated future performance of Mahindra Logistics in the Press Release (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be correct. They involve a number of risks, uncertainties and assumptions which could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These include, among other factors, changes in economic, political, regulatory, business or other market conditions. Such forward-looking statements only speak as of the date the Press Release is provided to the recipient and Mahindra Logistics is not under any obligation to update or revise such forward-looking statements to reflect new events or circumstances. No representation or warranty (whether express or implied) is given in respect of any information in this Press Release.

Page | 3

MLL Q4 FY2021 Press Release