ICICI Direct has given Buy recommendation for Mahindra Logistics with a target price of Rs. 750 in its research report issued on Nov 01, 2021

ICICI Direct’s research report on Mahindra Logistics

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.Serves over 400 customers via its two business segment: Supply chain management [(SCM), 96% of revenues] and enterprise mobility Revenues from Mahindra comprise 52% of SCM revenues (FY21) while the rest is contributed by non-Mahindra


We remain positive on the long term growth prospects of the stock and maintain our BUY recommendation We value the stock at Rs 750 i.e. 49x P/E on FY23E EPS


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