VRL Logistics Ltd

About [ edit ]

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 2,338 Cr.
  • Current Price 259
  • High / Low 279 / 120
  • Stock P/E 233
  • Book Value 64.6
  • Dividend Yield 2.71 %
  • ROCE 15.7 %
  • ROE 14.8 %
  • Face Value 10.0

Pros

  • Company has been maintaining a healthy dividend payout of 41.41%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.84% over past five years.

Peer comparison

Sector: Logistics Industry: Miscellaneous

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
489 528 517 551 513 540 524 557 498 160 439 563
445 468 463 481 453 451 451 478 441 194 352 465
Operating Profit 44 60 54 70 60 89 73 80 57 -34 87 99
OPM % 9% 11% 10% 13% 12% 16% 14% 14% 11% -21% 20% 18%
Other Income 2 2 2 1 2 2 3 2 2 2 3 5
Interest 2 2 2 4 4 9 9 9 11 10 9 8
Depreciation 25 25 25 25 26 40 41 41 45 42 39 41
Profit before tax 20 37 29 42 33 42 26 33 3 -84 42 55
Tax % 39% 34% 29% 37% 37% 35% -34% 21% 35% 25% 26% 27%
Net Profit 12 24 21 27 21 27 35 26 2 -63 31 40
EPS in Rs 1.33 2.68 2.28 2.94 2.27 3.04 3.84 2.86 0.24 -6.94 3.42 4.40
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
642 711 889 1,130 1,326 1,494 1,673 1,723 1,803 1,922 2,110 2,119 1,661
540 572 721 938 1,130 1,286 1,397 1,451 1,584 1,688 1,865 1,815 1,452
Operating Profit 102 139 167 192 196 208 276 272 220 235 245 303 208
OPM % 16% 20% 19% 17% 15% 14% 16% 16% 12% 12% 12% 14% 13%
Other Income 7 2 3 5 10 17 10 8 9 14 8 6 12
Interest 59 51 48 65 59 61 60 32 25 12 11 37 38
Depreciation 46 46 51 70 82 87 88 90 98 98 101 168 167
Profit before tax 4 44 71 62 64 77 138 158 105 139 140 104 16
Tax % 66% 34% 27% -24% 28% 26% 34% 34% 33% 34% 35% 14%
Net Profit 1 29 52 77 46 57 91 104 70 93 92 90 10
EPS in Rs 0.18 4.07 7.31 10.85 6.46 6.67 10.66 11.42 7.72 10.25 10.17 9.97 1.12
Dividend Payout % 0% 76% 41% 25% 99% 60% 38% 44% 52% 0% 54% 70%
Compounded Sales Growth
10 Years:12%
5 Years:5%
3 Years:6%
TTM:-22%
Compounded Profit Growth
10 Years:12%
5 Years:1%
3 Years:9%
TTM:-91%
Stock Price CAGR
10 Years:%
5 Years:-7%
3 Years:-15%
1 Year:13%
Return on Equity
10 Years:20%
5 Years:16%
3 Years:15%
Last Year:15%

Balance Sheet

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
71 71 71 71 181 86 86 91 91 90 90 90 90
Reserves 33 36 63 117 108 221 271 423 450 503 556 527 494
Borrowings 421 378 443 603 501 505 443 262 185 81 141 454 355
92 134 158 142 286 166 154 166 171 188 191 146 180
Total Liabilities 617 619 735 932 965 978 953 942 897 862 978 1,217 1,119
491 471 500 695 710 740 707 712 694 625 705 990 925
CWIP 3 12 40 10 14 14 9 16 2 8 42 4 3
Investments 0 0 0 0 0 0 0 3 0 0 0 0 0
122 137 194 228 241 223 237 211 201 230 231 222 191
Total Assets 617 619 735 932 965 978 953 942 897 862 978 1,217 1,119

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
84 137 148 163 163 203 235 264 198 205 192 257
-9 -37 -130 -240 -90 -91 -49 -107 -59 -44 -209 -119
-70 -106 -20 76 -71 -112 -185 -155 -146 -154 11 -138
Net Cash Flow 4 -6 -3 -1 2 0 2 2 -7 7 -6 0

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 12% 19% 23% 19% 16% 16% 24% 24% 17% 22% 21% 16%
Debtor Days 25 25 28 25 24 20 20 15 15 15 14 14
Inventory Turnover 0.28 23.75 30.71 36.48 37.57 0.28 0.25 0.26 26.06 23.67 21.74 19.74

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
68.05 68.05 68.05 68.05 68.05 68.05 68.05 68.05 68.05 68.05 68.05 68.05
12.03 9.12 7.80 6.76 5.91 5.87 5.47 4.95 4.72 4.09 2.88 2.74
11.80 15.75 17.25 17.98 19.43 19.73 20.37 21.17 21.39 21.06 20.58 20.14
8.12 7.08 6.90 7.21 6.61 6.34 6.10 5.83 5.84 6.80 8.49 9.07

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