VRL Logistics Ltd

VRL Logistics Ltd

₹ 242 1.94%
02 Jun - close price
About

VRL Logistics Ltd 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)

Key Points

Leading Player in Road Logistics[1]
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). It is an established brand in surface transportation and the industry leader in the parcel transportation space.

  • Market Cap 4,224 Cr.
  • Current Price 242
  • High / Low 325 / 225
  • Stock P/E 17.8
  • Book Value 65.3
  • Dividend Yield 3.10 %
  • ROCE 17.9 %
  • ROE 21.3 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 3.70 times its book value
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -3.93%

* 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.

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Quarterly Results

Figures in Rs. Crores

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
698 674 709 737 768 727 799 825 809 744 797 827 853
584 572 617 642 663 640 666 659 622 593 646 657 675
Operating Profit 114 102 92 94 105 87 133 166 187 152 151 170 177
OPM % 16% 15% 13% 13% 14% 12% 17% 20% 23% 20% 19% 21% 21%
137 9 6 2 4 15 2 6 3 6 7 4 6
Interest 13 16 19 21 22 23 22 24 26 26 24 22 23
Depreciation 45 49 52 57 58 62 64 65 64 65 65 68 64
Profit before tax 192 46 27 19 29 18 49 83 100 67 69 84 98
Tax % -0% 26% 28% 27% 26% 24% 27% 29% 25% 26% 28% 23% 26%
193 34 20 14 22 13 36 59 74 50 50 65 72
EPS in Rs 10.93 1.94 1.13 0.78 1.23 0.77 2.05 3.40 4.25 2.86 2.85 3.70 4.12
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,673 1,723 1,803 1,922 2,110 2,119 1,763 2,164 2,649 2,889 3,161 3,221
1,396 1,451 1,584 1,688 1,865 1,815 1,515 1,788 2,245 2,494 2,587 2,571
Operating Profit 277 272 220 235 245 303 248 376 404 394 574 650
OPM % 17% 16% 12% 12% 12% 14% 14% 17% 15% 14% 18% 20%
8 8 9 14 8 6 13 21 171 21 25 24
Interest 60 32 25 12 11 37 37 44 56 79 96 95
Depreciation 88 90 98 98 101 168 160 144 159 216 254 261
Profit before tax 138 158 105 139 140 104 64 209 360 121 250 318
Tax % 34% 34% 33% 34% 35% 14% 29% 23% 10% 26% 27% 26%
91 104 70 93 92 90 45 160 323 89 183 237
EPS in Rs 5.33 5.71 3.86 5.12 5.09 4.99 2.55 9.06 18.29 5.08 10.46 13.54
Dividend Payout % 38% 44% 52% 0% 54% 70% 78% 44% 14% 0% 72% 0%
Compounded Sales Growth
10 Years: 6%
5 Years: 13%
3 Years: 7%
TTM: 2%
Compounded Profit Growth
10 Years: 9%
5 Years: 40%
3 Years: -10%
TTM: 34%
Stock Price CAGR
10 Years: 6%
5 Years: 13%
3 Years: -11%
1 Year: -15%
Return on Equity
10 Years: 18%
5 Years: 22%
3 Years: 16%
Last Year: 21%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 86 91 91 90 90 90 88 88 88 87 87 175
Reserves 271 423 450 503 556 527 509 563 888 858 997 968
443 262 185 81 141 454 422 537 720 1,036 1,226 1,154
154 166 171 188 191 154 180 192 196 232 275 309
Total Liabilities 953 942 897 862 978 1,225 1,199 1,380 1,892 2,214 2,586 2,605
707 712 694 625 705 990 954 1,098 1,482 1,901 2,243 2,305
CWIP 9 16 2 8 42 4 6 35 38 24 15 22
Investments 0 3 0 0 0 0 0 0 15 0 0 0
237 211 201 230 231 230 238 247 356 290 328 278
Total Assets 953 942 897 862 978 1,225 1,199 1,380 1,892 2,214 2,586 2,605

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
235 264 198 205 192 257 272 371 318 424 558 654
-49 -107 -59 -44 -209 -119 -32 -180 -144 -243 -430 -294
-185 -155 -146 -154 11 -138 -234 -201 -171 -174 -93 -398
Net Cash Flow 2 2 -7 7 -6 0 6 -10 3 7 35 -38
Free Cash Flow 186 154 136 160 -19 137 239 190 -90 148 128 359
CFO/OP 95% 110% 99% 109% 100% 99% 115% 114% 100% 114% 106% 109%

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 20 15 15 15 14 15 13 11 11 11 11 10
Inventory Days
Days Payable
Cash Conversion Cycle 20 15 15 15 14 15 13 11 11 11 11 10
Working Capital Days -37 -15 -10 -1 6 -15 -21 -18 -16 -25 -22 -26
ROCE % 24% 24% 17% 22% 21% 16% 10% 22% 18% 11% 16% 18%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Number of Branches
Count

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Owned GT Fleet Size
Number of Vehicles
Goods Transport Tonnage
000 Tons
Realisation per Ton
INR

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
64.24% 60.24% 60.24% 60.24% 60.24% 60.24% 60.24% 60.24% 60.24% 60.24% 60.24% 60.24%
2.18% 2.16% 2.51% 3.26% 3.83% 3.94% 3.65% 3.62% 3.98% 3.99% 3.75% 2.98%
25.10% 29.02% 28.13% 26.57% 25.64% 25.47% 25.57% 25.33% 24.55% 24.28% 23.49% 25.05%
8.48% 8.58% 9.11% 9.93% 10.28% 10.34% 10.55% 10.82% 11.22% 11.49% 12.52% 11.72%
No. of Shareholders 58,22158,23958,74462,99764,83564,71865,42665,76765,72978,88785,28979,810

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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