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Mahindra Logistics Limited (MAHLOG) Fair Value & Analysis

Industrials · IN · Market cap ₹38.3B

ML Mahindra Logistics Limited MAHLOG · NSE
Price₹404.95
Fair Value₹612.78
Upside+51.3%
Quality40/100
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Healthy Growth
Thin margins · 0.0% net margin
Low debt · generates free cash flow
0.67% dividend yield
Mixed vs. peers (4/10)
Narrow moat 23/100
Evidence: High Range ₹295.04 – ₹843.80 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +4.5% over the past month.

Below-average quality, screening 51% undervalued on our models.

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What matters now

  • The large discount to fair value meets weak quality (40/100). That raises the risk this is a value trap rather than a bargain.
  • The model range is unusually wide (₹295.04 to ₹843.80). The outcome hinges heavily on assumptions, so read the point estimate with caution.
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Price vs Fair Value (5 years)

₹782.09 ₹240.86 Fair Value ₹612.78 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹240.86 – ₹782.09 · fair‑value band ₹295.04 – ₹843.80 · the ₹404.95 price screens below the ₹612.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Mahindra Logistics Limited (MAHLOG) currently trades at ₹404.95, while our model-based Fair Value estimate is ₹612.78, implying the stock looks roughly 51.3% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Trailing-twelve-month revenue stands at ₹70.0B. Revenue grew 20.1% year over year. It earns a return on equity of 1.3%. Net debt stands at ₹5.4B. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹295.04 (bear case) to ₹843.80 (bull case); at ₹404.95, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 10% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 26% fair-value upside, at 51%, MAHLOG screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹14,969 ₹26,009 ₹44,919 80
Residual Income ₹7,568 ₹7,000 ₹4,710 76
Rev-Margin DCF ₹11,118 ₹18,228 ₹27,536 74
All 26 models by family
DCF Models
FCF DCF ₹15,116 ₹27,263 ₹48,715 38
Owner Earnings ₹18,456 ₹33,417 ₹59,837 31
5Y Revenue Exit ₹11,118 ₹18,347 ₹28,086 39
5Y EBITDA Exit ₹27,584 ₹52,667 ₹84,811 41
5Y P/E Exit ₹5,495 ₹6,626 ₹7,671 38
10Y Revenue Exit ₹12,038 ₹19,406 ₹30,600 36
10Y EBITDA Exit ₹23,305 ₹44,714 ₹78,598 37
10Y P/E Exit ₹8,592 ₹10,762 ₹13,327 35
Earnings-Based
Graham-Dodd ₹149.71 ₹720.92 ₹992.70 54
Lynch FV ₹192.63 ₹274.64 ₹357.60 50
PEG = 1.0 ₹192.63 ₹274.64 ₹357.60 46
EPV ₹7,655 ₹8,815 ₹9,830 59
Dividend Discount
Gordon GGM ₹1,591 ₹3,308 ₹5,248 70
DDM Multi-Stage ₹1,591 ₹2,789 ₹3,472 61
Multiples
P/E Multiple ₹347.11 ₹462.50 ₹577.88 63
P/S Multiple ₹280.36 ₹373.81 ₹467.26 58
P/B Multiple ₹280.36 ₹373.81 ₹467.26 55
EV/EBIT ₹12,780 ₹16,808 ₹20,835 53
EV/EBITDA ₹35,975 ₹47,734 ₹59,493 54
EV/Revenue ₹9,321 ₹13,018 ₹16,713 43
Asset-Based
NCAV (Graham) ₹5,645 ₹7,565 ₹11,291 50
Growth DCF
Growth DCF ₹14,969 ₹26,009 ₹44,919 80
Rev-Margin DCF ₹11,118 ₹18,228 ₹27,536 74
Economic Profit
Residual Income ₹7,568 ₹7,000 ₹4,710 76
ROIC Compounder ₹7,655 ₹8,815 ₹9,830 72
Growth Earnings
Growth-Adj P/E ₹300.38 ₹429.12 ₹557.85 68

Widest divergence: DCF Models (₹19,406) versus Earnings-Based (₹274.64). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹70.0B
Revenue growth (YoY) +20.1%
Net margin 0.0%
Return on equity 1.3%
Free cash flow ₹1.1B FY2026
Operating margin 2.5%
More key figures
EPS (TTM) ₹0.2600
Dividend yield 0.7%
EPS growth (YoY) +28.9%
Net debt ₹5.4B FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 44 · Market factors (momentum, volatility) 64

Profitability 50
Margins and returns on capital today
Quality Growth 57
Are margins and returns improving?
Cashflow 41
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 55
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Mahindra Logistics Limited provides integrated logistics solutions in India and internationally. It operates through two segments, Supply Chain Management (SCM) and Enterprise Mobility Services.

Full company description

Mahindra Logistics Limited provides integrated logistics solutions in India and internationally. It operates through two segments, Supply Chain Management (SCM) and Enterprise Mobility Services. The company offers logistics solutions and services, including warehousing, transportation, inventory management, inbound and outbound logistics, in-plant logistics, just-in-time, returns, and value-added services; and contract logistics, B2B express, last-mile delivery, freight forwarding, and mobility services. It also provides distribution, full truck load, and part truck load transportation services. The company serves automobile, engineering and manufacturing, fmcg and consumer durables, e-commerce, pharmaceuticals, telecom, and commodities sectors. Mahindra Logistics Limited was founded in 2000 and is based in Mumbai, India. The company is a subsidiary of Mahindra & Mahindra Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Mahindra Logistics Limited reported revenue of ₹70.0B in FY2026 versus ₹41.3B in FY2022, a compound +14.1%/yr. Reported net income was ₹22.9M in FY2026, compounding −39.9%/yr from FY2022.

Growth Quality 85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹70.0B
Latest YoY
+14.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.5%
Avg. growth/yr (13Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.4%
Revenue +14.1%/yr
FY22 ₹41.3B
FY23 ₹51.3B
FY24 ₹55.1B
FY25 ₹61.0B
FY26 ₹70.0B
Net income −39.9%/yr
FY22 ₹176M
FY23 ₹263M
FY24 −₹547M
FY25 −₹359M
FY26 ₹22.9M

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Cite: Fair Value Calculator (2026). "Mahindra Logistics Limited Fair Value". https://www.fairvalue-calculator.com/stock/MAHLOG

Peer Group

Integrated Freight & Logistics · 214 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 40 · Bottom 25%
Fair Value upside +51% · Top 25%
Return on equity (TTM) 1% · Below median
Return on assets 2% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 20% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/FCF 0.4× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 41
FUTURE 100 · sector 8
PAST 5 · sector 26
HEALTH 99 · sector 94
DIVIDEND 13 · sector 63

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $103.91 $103.34 -1%
FedEx Corporation FDX $326.77 $347.68 +6%
Deutsche Post AG DHL €55.32 €53.18 -4%
DSV A/S DSV kr 1,380 kr 712.57 -48%
J.B. Hunt Transport Services, Inc JBHT $275.96 $133.80 -52%
S.F. Holding 002352 ¥32.96 ¥48.64 +48%
ZTO Express (Cayman) Inc 2057 HK$178.20 HK$224.41 +26%
Hyundai Glovis Co 086280 199,700 KRW 468,982 KRW +135%
YTO Express Group 600233 ¥18.48 ¥26.51 +43%
JD Logistics, Inc 2618 HK$14.17 HK$21.45 +51%

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Frequently asked questions

Is Mahindra Logistics Limited (MAHLOG) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹612.78 versus a price of ₹404.95, about +51% (undervalued).
What is the fair value of MAHLOG?
Our model-based fair value for Mahindra Logistics Limited is ₹612.78 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹404.95.
What is the quality score of MAHLOG?
Mahindra Logistics Limited has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mahindra Logistics Limited (MAHLOG)?
Mahindra Logistics Limited reported trailing-twelve-month revenue of about ₹70.0B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MAHLOG?
The net profit margin of Mahindra Logistics Limited is about 0.0%, meaning it keeps roughly 0.0% of revenue as net income. Based on the latest reported figures.
Does Mahindra Logistics Limited pay a dividend?
Mahindra Logistics Limited currently shows a dividend yield of about 0.67% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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