Mahindra Logistics business impacted due to Covid-19
24 Jun 2021
2 Min Read
CW Team
Mahindra Logistics experienced a significant impact on its business in the last two months due to lockdowns imposed on various states. But now, it's on the way to a stronger recovery path after expecting its momentum to consolidate in the next half of this fiscal year.
According to media reports, due to Covid-19 lockdowns and restricting easing in various states, the company is carrying positivity in its business outlook from June to the third and fourth quarter of FY22.
Mahindra Logistics is a logistic service provider that offers solutions in two business segments: supply chain management and enterprise mobility. The company provides supply chain solutions to vast industry verticals like engineering, consumer goods, telecom, pharmacies, commodities, and e-commerce.
Explaining the challenges in the recent months, MD and CEO of Mahindra Logistics, Rampraveen Swaminathan, said that the company faced an impact due to the lockdowns regarding demand beyond many geographies. He also said that e-commerce was restricted only to essential services.
According to Swaminathan, the situation will improve from the second quarter, with the second wave of the pandemic coming under control.
Mahindra Logistics has redesigned most of its operating processes and warehouse to raise production and to lower the availability of manpower to reduce the impact of the probable third wave of the Covid-19 pandemic.
The company cannot fully mitigate the broader set of regulatory actions. If there is a larger lockdown, the company cannot mitigate that impact, and there is something out of its direct control, Swaminathan said.
Also read: Real estate hit badly by pandemic, confirms Brickwork Ratings report
Mahindra Logistics experienced a significant impact on its business in the last two months due to lockdowns imposed on various states. But now, it's on the way to a stronger recovery path after expecting its momentum to consolidate in the next half of this fiscal year.
According to media reports, due to Covid-19 lockdowns and restricting easing in various states, the company is carrying positivity in its business outlook from June to the third and fourth quarter of FY22.
Mahindra Logistics is a logistic service provider that offers solutions in two business segments: supply chain management and enterprise mobility. The company provides supply chain solutions to vast industry verticals like engineering, consumer goods, telecom, pharmacies, commodities, and e-commerce.
Explaining the challenges in the recent months, MD and CEO of Mahindra Logistics, Rampraveen Swaminathan, said that the company faced an impact due to the lockdowns regarding demand beyond many geographies. He also said that e-commerce was restricted only to essential services.
According to Swaminathan, the situation will improve from the second quarter, with the second wave of the pandemic coming under control.
Mahindra Logistics has redesigned most of its operating processes and warehouse to raise production and to lower the availability of manpower to reduce the impact of the probable third wave of the Covid-19 pandemic.
The company cannot fully mitigate the broader set of regulatory actions. If there is a larger lockdown, the company cannot mitigate that impact, and there is something out of its direct control, Swaminathan said.
Image Source
Also read: Real estate hit badly by pandemic, confirms Brickwork Ratings report
Next Story
MoHUA Plans New Role for Smart City SPVs
In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..
Next Story
ADB Approves $110 Million Loan to Boost Skills in Gujarat
The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..
Next Story
SDAL Tests Rudrastra UAV and Bhargavastra Defence System
Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..