VRL Logistics Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2022 • Goods Transport: 89.3% • Bus Operation: 8.6% • Sale of Wind Power: 1.1%
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company has delivered good profit growth of 39.4% CAGR over last 5 years
- Company has a healthy return on capital (ROCE) of 22.8%
- Latest quarter profit grew 60.9% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.21x)
- Operating margins have improved to 20.2% from 15.8%
- Company has been maintaining a healthy dividend payout of 36.9%
CONS
- Growth is decelerating - 3Y profit CAGR (12.5%) trails the 5Y trend (39.4%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCOR | 499.80 | 30.65 | 38065.66 | 1.72 | 268.90 | 0.61 | 2159.76 | 0.28 | 13.63 | 20.41 |
| DELHIVERY | 438.60 | 351.36 | 32864.05 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 2.97 | 4.75 |
| SHADOWFAX | 253.25 | 133.05 | 14862.94 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 11.58 | 6.76 |
| BLACKBUCK | 629.05 | 67.88 | 11459.23 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | 12.75 | 24.35 |
| TCI | 859.95 | 14.47 | 6607.09 | 1.16 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| TVSSCS | 130.35 | 88.81 | 5751.35 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| VRLLOG | 231.45 | 18.88 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| MAHLOG | 396.65 | 102.33 | 3937.84 | 0.63 | 278.30 | 3048.09 | 20028.80 | 1132.85 | 10.40 | 5.76 |
| SINDHUTRAD | 24.08 | 47.98 | 3712.96 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| GATEWAY | 53.34 | 10.91 | 2665.10 | 6.09 | 51.27 | -17.56 | 549.30 | -0.21 | 17.99 | 21.31 |
| TCIEXP | 513.50 | 23.94 | 1974.11 | 1.36 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| ALLCARGO | 12.15 | 60.66 | 1819.80 | 0.00 | 140.00 | 241.47 | 5460.00 | 43.06 | 8.70 | 13.00 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 674 | 709 | 737 | 768 | 727 | 799 | 825 | 809 | 744 | 797 | 827 | 853 | 8,788 | |
| 572 | 618 | 642 | 663 | 640 | 666 | 659 | 622 | 593 | 646 | 657 | 675 | 7,773 | |
| Operating Profit | 102 | 92 | 94 | 105 | 87 | 133 | 166 | 187 | 152 | 151 | 170 | 177 | 1,015 |
| OPM % | 15.12% | 12.95% | 12.81% | 13.71% | 11.95% | 16.64% | 20.17% | 23.07% | 20.37% | 18.97% | 20.55% | 20.81% | 11.55% |
| 9 | 6 | 2 | 4 | 15 | 2 | 6 | 3 | 6 | 7 | 4 | 6 | 60 | |
| Interest | 16 | 19 | 21 | 22 | 23 | 22 | 24 | 26 | 26 | 24 | 22 | 23 | 227 |
| Depreciation | 49 | 52 | 57 | 58 | 62 | 64 | 65 | 64 | 65 | 65 | 68 | 64 | 624 |
| Profit before Tax | 46 | 28 | 19 | 29 | 18 | 49 | 83 | 100 | 67 | 69 | 84 | 98 | 1,075 |
| Tax % | 25.56% | 27.80% | 26.93% | 26.00% | 23.64% | 27.34% | 28.80% | 25.44% | 25.57% | 27.82% | 22.77% | 26.15% | 25.10% |
| Net Profit | 34 | 20 | 14 | 22 | 13 | 36 | 59 | 74 | 50 | 50 | 65 | 72 | 805 |
| 3.88 | 2.27 | 1.56 | 2.46 | 1.54 | 2.05 | 3.40 | 4.25 | 5.72 | 2.85 | 3.70 | 4.12 | 4.60 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,803 | 1,922 | 2,110 | 2,119 | 1,763 | 2,164 | 2,649 | 2,889 | 3,161 | 3,221 | 3,356 | |
| 1,587 | 1,688 | 1,865 | 1,820 | 1,515 | 1,788 | 2,246 | 2,494 | 2,586 | 2,569 | 2,755 | |
| Operating Profit | 216 | 235 | 244 | 299 | 248 | 376 | 403 | 394 | 575 | 652 | 600 |
| OPM % | 11.97% | 12.22% | 11.59% | 14.11% | 14.07% | 17.38% | 15.22% | 13.66% | 18.19% | 20.24% | 17.88% |
| 9 | 14 | 8 | 10 | 13 | 17 | 15 | 22 | 24 | 24 | 23 | |
| Interest | 25 | 12 | 11 | 37 | 37 | 44 | 56 | 79 | 96 | 97 | 91 |
| Depreciation | 95 | 98 | 101 | 168 | 160 | 145 | 159 | 216 | 254 | 261 | 259 |
| Profit before Tax | 105 | 139 | 140 | 104 | 64 | 205 | 203 | 121 | 250 | 318 | 358 |
| Tax % | 33.07% | 33.59% | 34.57% | 13.61% | 29.29% | 23.72% | 17.96% | 26.40% | 26.82% | 25.50% | 25.37% |
| Net Profit | 70 | 93 | 92 | 90 | 45 | 156 | 166 | 89 | 183 | 237 | 267 |
| EPS | 7.72 | 10.25 | 10.17 | 9.97 | 4.99 | 18.12 | 36.58 | 10.18 | 20.91 | 13.54 | — |
| Dividend Payout % | 51.79% | 0.00% | 54.06% | 70.18% | 78.41% | 45.26% | 26.59% | 0.00% | 71.73% | 36.93% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 13%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 39%
- 3 Years:
- 13%
STOCK PRICE CAGR
- 10 Years:
- 7%
- 5 Years:
- 11%
- 3 Years:
- -7%
- 1 Year:
- 6%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 19%
- 3 Years:
- 16%
- Last Year:
- 21%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 91 | 90 | 90 | 90 | 88 | 88 | 88 | 87 | 87 | 175 |
| 450 | 503 | 556 | 527 | 509 | 563 | 887 | 858 | 997 | 968 | |
| 199 | 83 | 155 | 385 | 358 | 458 | 607 | 819 | 984 | 923 | |
| Trade Payables | 4 | 7 | 6 | 3 | 14 | 20 | 14 | 15 | 31 | 26 |
| 152 | 179 | 171 | 220 | 230 | 251 | 294 | 434 | 887 | 931 | |
| Total Liabilities | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,214 | 2,986 | 3,023 |
| 691 | 622 | 703 | 988 | 952 | 1,097 | 1,481 | 1,900 | 2,242 | 2,304 | |
| Capital Work in Progress | 2 | 8 | 42 | 4 | 6 | 35 | 38 | 24 | 15 | 22 |
| 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 | 0 | |
| 18 | 24 | 30 | 29 | 40 | 46 | 53 | 41 | 43 | 44 | |
| 0 | 81 | 0 | 0 | 0 | 0 | 0 | 88 | 93 | 86 | |
| Cash & Bank | 12 | 19 | 13 | 13 | 19 | 14 | 75 | 19 | 53 | 16 |
| 173 | 108 | 191 | 190 | 182 | 188 | 229 | 142 | 540 | 552 | |
| Total Assets | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,214 | 2,986 | 3,023 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 218 | 205 | 244 | 300 | 286 | 429 | 404 | 424 | 555 | 654 | |
| Cash from Investing | -59 | -44 | -209 | -119 | -32 | -180 | -144 | -243 | -430 | -294 |
| Cash from Financing | -146 | -154 | 11 | -138 | -234 | -201 | -171 | -174 | -90 | -398 |
| -7 | 7 | -6 | 0 | 6 | -10 | 3 | 7 | 35 | -38 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - VRL Logistics Limited has informed the Exchange about Schedule of meet
2026-09-02 - VRL Logistics Limited has informed the Exchange about Copy of Newspaper Publication Postal Ballot Notice
2026-09-01 - VRL Logistics Limited has informed the Exchange about Schedule of meet
2026-09-01 - VRL Logistics Limited has informed the Exchange regarding Notice of Postal Ballot
2026-08-20 - VRL Logistics Limited has informed the Exchange about Schedule of meet One-on-One virtual meeting w.r.t. discussion on Company s Business & Financial Results for the quarter ended 30th June 2026.
2026-08-10 - VRL Logistics Limited has informed the Exchange about Transcript
2026-08-05 - VRL Logistics Limited has informed the Exchange about Link of Recording
2026-08-04 - VRL Logistics Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 04, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-04 - VRL Logistics Limited has informed the Exchange about Investor Presentation
News
Recent coverage and analyst commentary for VRLLOG
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