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 ₹ 4,814 Cr.
- Current Price ₹ 550
- High / Low ₹ 799 / 517
- Stock P/E 37.6
- Book Value ₹ 104
- Dividend Yield 0.91 %
- ROCE 17.9 %
- ROE 39.7 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 28.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.6%
- Company has been maintaining a healthy dividend payout of 45.4%
Cons
- The company has delivered a poor sales growth of 6.62% over past five years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.154 Cr.
- Promoter holding has decreased over last 3 years: -7.81%
* 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
Sector: Logistics Industry: Miscellaneous
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,130 | 1,326 | 1,494 | 1,673 | 1,723 | 1,803 | 1,922 | 2,110 | 2,119 | 1,763 | 2,164 | 2,649 | 2,818 | |
938 | 1,130 | 1,285 | 1,396 | 1,451 | 1,584 | 1,688 | 1,865 | 1,815 | 1,515 | 1,788 | 2,245 | 2,416 | |
Operating Profit | 192 | 196 | 209 | 277 | 272 | 220 | 235 | 245 | 303 | 248 | 376 | 404 | 402 |
OPM % | 17% | 15% | 14% | 17% | 16% | 12% | 12% | 12% | 14% | 14% | 17% | 15% | 14% |
5 | 10 | 16 | 8 | 8 | 9 | 14 | 8 | 6 | 13 | 21 | 171 | 154 | |
Interest | 65 | 59 | 61 | 60 | 32 | 25 | 12 | 11 | 37 | 37 | 44 | 56 | 69 |
Depreciation | 70 | 82 | 87 | 88 | 90 | 98 | 98 | 101 | 168 | 160 | 144 | 159 | 203 |
Profit before tax | 62 | 64 | 77 | 138 | 158 | 105 | 139 | 140 | 104 | 64 | 209 | 360 | 284 |
Tax % | -24% | 28% | 26% | 34% | 34% | 33% | 34% | 35% | 14% | 29% | 23% | 10% | |
77 | 46 | 57 | 91 | 104 | 70 | 93 | 92 | 90 | 45 | 160 | 323 | 260 | |
EPS in Rs | 10.85 | 6.46 | 6.67 | 10.66 | 11.42 | 7.72 | 10.25 | 10.17 | 9.97 | 5.10 | 18.12 | 36.58 | 29.56 |
Dividend Payout % | 25% | 99% | 60% | 38% | 44% | 52% | 0% | 54% | 70% | 78% | 44% | 14% |
Compounded Sales Growth | |
---|---|
10 Years: | 7% |
5 Years: | 7% |
3 Years: | 8% |
TTM: | 11% |
Compounded Profit Growth | |
---|---|
10 Years: | 22% |
5 Years: | 28% |
3 Years: | 51% |
TTM: | -19% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 14% |
3 Years: | 34% |
1 Year: | -12% |
Return on Equity | |
---|---|
10 Years: | 21% |
5 Years: | 22% |
3 Years: | 26% |
Last Year: | 40% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 71 | 71 | 86 | 86 | 91 | 91 | 90 | 90 | 90 | 88 | 88 | 88 | 87 |
Reserves | 117 | 108 | 221 | 271 | 423 | 450 | 503 | 556 | 527 | 509 | 563 | 888 | 821 |
Preference Capital | 0 | 110 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
603 | 501 | 505 | 443 | 262 | 185 | 81 | 141 | 454 | 422 | 537 | 720 | 907 | |
142 | 286 | 166 | 154 | 166 | 171 | 188 | 191 | 154 | 180 | 192 | 196 | 220 | |
Total Liabilities | 932 | 965 | 978 | 953 | 942 | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,035 |
695 | 710 | 740 | 707 | 712 | 694 | 625 | 705 | 990 | 954 | 1,098 | 1,482 | 1,683 | |
CWIP | 10 | 14 | 14 | 9 | 16 | 2 | 8 | 42 | 4 | 6 | 35 | 38 | 61 |
Investments | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 |
228 | 241 | 223 | 237 | 211 | 201 | 230 | 231 | 230 | 238 | 247 | 356 | 291 | |
Total Assets | 932 | 965 | 978 | 953 | 942 | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,035 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
163 | 163 | 203 | 235 | 264 | 198 | 205 | 192 | 257 | 272 | 371 | 318 | |
-240 | -90 | -91 | -49 | -107 | -59 | -44 | -209 | -119 | -32 | -180 | -144 | |
76 | -71 | -112 | -185 | -155 | -146 | -154 | 11 | -138 | -234 | -201 | -171 | |
Net Cash Flow | -1 | 2 | 0 | 2 | 2 | -7 | 7 | -6 | 0 | 6 | -10 | 3 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 25 | 24 | 20 | 20 | 15 | 15 | 15 | 14 | 15 | 13 | 11 | 11 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 25 | 24 | 20 | 20 | 15 | 15 | 15 | 14 | 15 | 13 | 11 | 11 |
Working Capital Days | -22 | -22 | -24 | -15 | -4 | 3 | 11 | 11 | 12 | 12 | 8 | 11 |
ROCE % | 19% | 16% | 16% | 24% | 24% | 17% | 22% | 21% | 16% | 10% | 22% | 18% |
Documents
Announcements
- Closure of Trading Window 1d
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
15 Mar - In accordance with Regulation 30(6) of the SEBI (LODR) Regulations 2015, please find below schedule of Investor meeting proposed to be held.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 Mar - In accordance with Regulation 30(6) of the SEBI (LODR) Regulations 2015, please find below schedule of Investors meeting proposed to be held.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Feb - In accordance with Regulation 30(6) of the SEBI (LODR) Regulations 2015, please find schedule of Investors meeting proposed to be held on February 12,2024.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Feb - In accordance with Regulation 30(6) of the SEBI (LODR) Regulations 2015, please find the schedule of Investors meeting with proposed to be held -
Annual reports
Concalls
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Leading Player in Road Logistics
VRL is the only “Owned Asset” organized
player in Less than Truckload logistics[1] business in India with the largest fleet of owned vehicles, comprising 5671 vehicles. In FY23, 36%+ vehicles were fully depreciated and 95%+ vehicles were debt free.[2] Company has placed an additional order for 1667 Goods Transportation vehicles from TATA and Ashok Leyland and added 1338 vehicles in FY23. Net Vehicle increase (after scrappage) was 855.[3]
Company has its driver training facility at Hubballi.[4]
Company has focused to open new branches in North, East and North-East regions.[5]