VRL Logistics Ltd
VRL Logistics is engaged in logistics services dealing mainly in domestic transportation of goods. Other businesses include bus operations, transport of passengers by air, sale of power and sale of certified emission reductions (CER) units generated from operation of wind mills. The operations of the Company are spread all over the country through various branches and transshipment hubs.(Source : 202003-01 Annual Report Page No:132)
- Market Cap ₹ 4,791 Cr.
- Current Price ₹ 274
- High / Low ₹ 325 / 216
- Stock P/E 20.5
- Book Value ₹ 62.6
- Dividend Yield 2.74 %
- ROCE 15.7 %
- ROE 17.4 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 4.37 times its book value
- The company has delivered a poor sales growth of 8.33% over past five years.
- Promoter holding has decreased over last 3 years: -9.35%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Transport Services Logistics Solution Provider
Part of BSE SmallCap BSE Allcap BSE Services
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,494 | 1,673 | 1,723 | 1,803 | 1,922 | 2,110 | 2,119 | 1,763 | 2,164 | 2,649 | 2,889 | 3,161 | 3,176 | |
| 1,285 | 1,396 | 1,451 | 1,584 | 1,688 | 1,865 | 1,815 | 1,515 | 1,788 | 2,245 | 2,494 | 2,587 | 2,520 | |
| Operating Profit | 209 | 277 | 272 | 220 | 235 | 245 | 303 | 248 | 376 | 404 | 394 | 574 | 656 |
| OPM % | 14% | 17% | 16% | 12% | 12% | 12% | 14% | 14% | 17% | 15% | 14% | 18% | 21% |
| 16 | 8 | 8 | 9 | 14 | 8 | 6 | 13 | 21 | 171 | 21 | 25 | 22 | |
| Interest | 61 | 60 | 32 | 25 | 12 | 11 | 37 | 37 | 44 | 56 | 79 | 96 | 100 |
| Depreciation | 87 | 88 | 90 | 98 | 98 | 101 | 168 | 160 | 144 | 159 | 216 | 254 | 258 |
| Profit before tax | 77 | 138 | 158 | 105 | 139 | 140 | 104 | 64 | 209 | 360 | 121 | 250 | 319 |
| Tax % | 26% | 34% | 34% | 33% | 34% | 35% | 14% | 29% | 23% | 10% | 26% | 27% | |
| 57 | 91 | 104 | 70 | 93 | 92 | 90 | 45 | 160 | 323 | 89 | 183 | 234 | |
| EPS in Rs | 3.33 | 5.33 | 5.71 | 3.86 | 5.12 | 5.09 | 4.99 | 2.55 | 9.06 | 18.29 | 5.08 | 10.46 | 13.36 |
| Dividend Payout % | 60% | 38% | 44% | 52% | 0% | 54% | 70% | 78% | 44% | 14% | 0% | 72% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 8% |
| 3 Years: | 13% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 14% |
| 3 Years: | 4% |
| TTM: | 177% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | 23% |
| 3 Years: | -1% |
| 1 Year: | 2% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 20% |
| 3 Years: | 21% |
| Last Year: | 17% |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 86 | 86 | 91 | 91 | 90 | 90 | 90 | 88 | 88 | 88 | 87 | 87 | 175 |
| Reserves | 221 | 271 | 423 | 450 | 503 | 556 | 527 | 509 | 563 | 888 | 858 | 997 | 921 |
| 505 | 443 | 262 | 185 | 81 | 141 | 454 | 422 | 537 | 720 | 1,036 | 1,226 | 1,107 | |
| 166 | 154 | 166 | 171 | 188 | 191 | 154 | 180 | 192 | 196 | 232 | 275 | 282 | |
| Total Liabilities | 978 | 953 | 942 | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,214 | 2,586 | 2,485 |
| 740 | 707 | 712 | 694 | 625 | 705 | 990 | 954 | 1,098 | 1,482 | 1,901 | 2,243 | 2,194 | |
| CWIP | 14 | 9 | 16 | 2 | 8 | 42 | 4 | 6 | 35 | 38 | 24 | 15 | 7 |
| Investments | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 | 0 |
| 223 | 237 | 211 | 201 | 230 | 231 | 230 | 238 | 247 | 356 | 290 | 328 | 284 | |
| Total Assets | 978 | 953 | 942 | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,214 | 2,586 | 2,485 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 203 | 235 | 264 | 198 | 205 | 192 | 257 | 272 | 371 | 318 | 424 | 558 | |
| -91 | -49 | -107 | -59 | -44 | -209 | -119 | -32 | -180 | -144 | -243 | -430 | |
| -112 | -185 | -155 | -146 | -154 | 11 | -138 | -234 | -201 | -171 | -174 | -93 | |
| Net Cash Flow | 0 | 2 | 2 | -7 | 7 | -6 | 0 | 6 | -10 | 3 | 7 | 35 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 20 | 20 | 15 | 15 | 15 | 14 | 15 | 13 | 11 | 11 | 11 | 11 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 20 | 20 | 15 | 15 | 15 | 14 | 15 | 13 | 11 | 11 | 11 | 11 |
| Working Capital Days | -51 | -37 | -15 | -10 | -1 | 6 | -15 | -21 | -18 | -16 | -25 | -22 |
| ROCE % | 16% | 24% | 24% | 17% | 22% | 21% | 16% | 10% | 22% | 18% | 11% | 16% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - The officials of the Company will be participating in a Non-Deal Roadshow (NDR) to meet Investors as per details attached.
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Announcement under Regulation 30 (LODR)-Credit Rating
19 Nov - ICRA changed VRL Logistics' long-term outlook to Positive from Stable for A+ term and working capital loans.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
7 Nov - In terms of Reg.30 of the SEBI (LODR) Regulations 2025, please find the attached transcript of the Earnings call held on November 4, 2025, for …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
4 Nov - Audio recording of earnings call for quarter/half-year ended 30 Sep 2025 available (04 Nov 2025).
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Announcement under Regulation 30 (LODR)-Investor Presentation
3 Nov - With respect to above captioned subject and in accordance with extent provisions of the SEBI (LODR) Regulations 2015 and other applicable provisions for the time …
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Concalls
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Feb 2022TranscriptAI SummaryPPT
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Nov 2017TranscriptAI SummaryPPT
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Nov 2015TranscriptAI SummaryPPT
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Leading Player in Road Logistics
The company is the only “Owned Asset” organized player in Less than Truckload logistics (shipments that are not large enough to take up the capacity of an entire truck). [1] It is a well-established brand in surface transportation and the industry leader in the parcel transportation space. [2] [3]