External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Mahindra Logistics Ltd / Equity Bottom-Up

<ul><li>MAHLOG reported a revenue growth of ~28% YoY to INR13.3b in 2QFY23 (12% above our estimate).</li><li>Revenue growth was driven by a recovery in the Auto industry and consumption-end markets, including Telecom.</li><li>EBITDA margin stood at 5.1% in 2QFY23 (up 55bp YoY, but down 40bp QoQ).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

MAHLOG reported a revenue growth of ~28% YoY to INR13.3b in 2QFY23 (12% above our estimate).Revenue growth was driven by a recovery in the Auto industry and consumption-end markets, including Telecom.EBITDA margin stood at 5.1% in 2QFY23 (up 55bp YoY, but down 40bp QoQ).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra Logistics - Inflationary Cost Pressures Impact Margin

<div><ul><li>Improved utilization levels drive margin improvement - <span style="font-size: var(--content-font-size);">MLL delivered a revenue growth of 10% YoY in 4QFY22 (6% below our estimate), driven by 25% growth in the non-Auto vertical. The Auto segment reported flattish growth YoY.</span></li><li>Volumes improve YoY; high depreciation impacts PAT - <span style="font-size: var(--content-font-size);">Revenue grew 10% YoY to ~INR10.7b; 6% below our estimates.</span></li></ul><div><ul><li>Highlights from the management commentary - <span style="font-size: var(--content-font-size);">Revenue growth was driven by the non-Auto vertical. MLL saw good traction in freight forwarding and e-commerce.</span></li></ul></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Improved utilization levels drive margin improvement - MLL delivered a revenue growth of 10% YoY in 4QFY22 (6% below our estimate), driven by 25% growth in the non-Auto vertical. The Auto segment reported flattish growth YoY.Volumes improve YoY; high depreciation impacts PAT - Revenue grew 10% YoY to ~INR10.7b; 6% below our estimates.Highlights from the management commentary - Revenue growth was driven by the non-Auto vertical. MLL saw good traction in freight forwarding and e-commerce.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra Logistics - Non-Auto Segment Driving Volume Growth

External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Mahindra Logistics is an end-to-end 3PL logistics solution provider, from performing milk run to in-factory logistics, warehousing to first mile and last mile logistics</li><li>Serves over 400 customers via its two business segment: supply chain management [(SCM), 96% of revenues] and enterprise mobility</li><li>Revenues from Mahindra comprise 52% of SCM revenues (FY21) while the rest is contributed by non-Mahindra</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Mahindra Logistics is an end-to-end 3PL logistics solution provider, from performing milk run to in-factory logistics, warehousing to first mile and last mile logisticsServes over 400 customers via its two business segment: supply chain management [(SCM), 96% of revenues] and enterprise mobilityRevenues from Mahindra comprise 52% of SCM revenues (FY21) while the rest is contributed by non-MahindraContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra Logistics Ltd: New Customers, Seasonality Impacts Margins

<p>PAT de-grew 27% QoQ to Rs 9 crore (vs. expected Rs 3 crore), as operating performance was impacted by higher interest and depreciation expense What should investors do? Continued momentum in the non-auto segment of MLL will drive higher contribution from value added services (sorting, bill processing...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PAT de-grew 27% QoQ to Rs 9 crore (vs. expected Rs 3 crore), as operating performance was impacted by higher interest and depreciation expense What should investors do? Continued momentum in the non-auto segment of MLL will drive higher contribution from value added services (sorting, bill processing...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mahindra Logistics: Improved Margins in Spite of Low Operating Leverage

India

Mahindra Logistics Limited provides logistic services. The Company offers people transportation, warehousing, distribution, brokerage, supply chain management, freight forwarding, e-commerce, engineering, auto outbound, transport management systems, and technology services. Mahindra Logistics serves customers in India.

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Mahindra Logistics Ltd (MAHLOG IN)

Mahindra Logistics - Inflationary Cost Pressures Impact Margin

MAHLOG reported a revenue growth of ~28% YoY to INR13.3b in 2QFY23 (12% above our estimate). Revenue growth was driven by a recovery in the Auto...

Motilal Oswal

Mahindra Logistics - Non-Auto Segment Driving Volume Growth

MLL delivered a revenue growth of 10% YoY in 4QFY22 (6% below our estimate), driven by 25% growth in the non-Auto vertical. The Auto segment...

Motilal Oswal

Mahindra Logistics Ltd: New Customers, Seasonality Impacts Margins

Mahindra Logistics is an end-to-end 3PL logistics solution provider, from performing milk run to in-factory logistics, warehousing to first mile...

ICICI Securities Limited

Mahindra Logistics: Improved Margins in Spite of Low Operating Leverage

PAT de-grew 27% QoQ to Rs 9 crore (vs. expected Rs 3 crore), as operating performance was impacted by higher interest and depreciation expense What...

ICICI Securities Limited

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