Vrl Logistics Limited (VRLLOG)

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Vrl Logistics Limited (VRLLOG) · mywealthgrid

About

VRL Logistics operates transport and logistics services within India's industrials sector, with quarterly revenue ₹878 Cr and market cap ₹5,182 Cr. Operating margins average around 20%, though quarter-to-quarter swings are significant. ROE of 21.27% and conservative debt-to-equity of 0.4 reflect efficient capital use.

Face value: ₹10

Market cap

₹4,986 Cr

P/E

18.7×

P/B

4.4×

Dividend yield

5.3%

ROE

21.3%

ROCE

18.8%

Debt / equity

0.4

OPM

20.2%

EPS (TTM)

₹15.3

Book value

₹65.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Earnings volatile: EPS ranges ₹2.85–₹8.49 and net profit ₹35.82–₹80.53 Cr across eight quarters; verify whether cyclical demand, pricing pressure, or operational issues drive volatility.

Operating margin contracted to 16.64% in Sep 2024 and fluctuated 18.97%–21.23% recently; verify cost inflation (fuel, labor) or rate competition pressure.

One-year return 5.12% modest given 52-week price range ₹229.56–₹305.25, indicating volatility without upward momentum.

Verify customer concentration, fuel hedging mechanisms, and driver availability in competitive transport market.

Generated analysis · source review pending

Growth drivers

Revenue grew 18% YoY (Jun 2026: ₹878.84 Cr vs Jun 2025: ₹744.34 Cr); verify whether underlying logistics demand, pricing, or volume expansion sustains this.

Latest quarter OPM 21.23% held above 20.19% historical level, indicating operational cost management.

ROE 21.27% reflects capital deployed efficiently; verify reinvestment in fleet expansion, routes, or geographic capability.

Five dividend and bonus payouts (mid-2023 onward) signal cash generation; verify capex investment matches cash availability.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹285.1+0.9%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 20.2%
+Profit CAGR of 39.4% over the last 5 years
+Dividend yield of 5.3%
+Dividend payout of 98.1% of profit
+High promoter holding of 60.2% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

59/100

Business quality: 53
Growth: 51
Valuation: 72

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,722	1,803	1,922	2,110	2,119	1,763	2,394	2,649	2,889	3,161	3,221
	1,455	1,609	1,688	1,866	1,820	1,515	1,989	2,247	2,495	2,588	2,571
	267	194	234	244	298	247	404	402	393	573	650
OPM %	15.5%	10.8%	12.2%	11.6%	14.1%	14%	16.9%	15.2%	13.6%	18.1%	20.2%
Depreciation	90	—	98	101	168	160	168	159	216	254	261
Interest	31	24	11	11	37	37	43	54	78	95	95
	8	9	14	8	10	13	17	171	21	25	24
Profit before tax	154	108	139	140	104	64	210	360	121	250	318
Tax	52	35	47	49	14	19	50	36	32	67	81
Tax %	33.6%	32.6%	33.6%	34.6%	13.6%	29.3%	23.7%	10.1%	26.4%	26.8%	25.5%
	102	70	93	92	90	45	160	323	89	183	237
PAT margin %	5.9%	3.9%	4.8%	4.4%	4.3%	2.6%	6.7%	12.2%	3.1%	5.8%	7.4%
EPS (₹)	11.3	7.7	10.2	10.2	10	5	18.1	36.6	10.2	20.9	13.5
EPS adjusted (₹)	6	3.9	5.1	5.1	41.8	20.9	9.1	18.3	5.1	10.5	13.5
	44.4%	51.8%	0%	54.1%	70.2%	80.2%	44.2%	13.7%	0%	71.7%	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	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	90	90	11	11	88	88	87	87	175
Reserves	270	450	503	556	7	8	563	888	858	997	968
Minority interest	—	—	—	—	0	—	—	—	—	—	—
	291	123	69	131	35	31	116	179	279	447	456
	305	233	200	201	6	9	613	737	989	1,054	1,007
Total equity & liabilities	951	897	862	978	60	59	1,380	1,892	2,214	2,586	2,605
	701	691	622	703	21	21	1,097	999	1,900	2,242	2,304
CWIP	9	2	8	42	0	0	35	38	24	15	23
Investments	0	0	0	0	1	2	1	16	1	1	1
	241	204	232	234	38	36	247	839	290	328	278
Total assets	951	897	862	978	60	59	1,380	1,892	2,214	2,586	2,605

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2022 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Goods Transport	2,137.38	270.53	—	596.78
Bus Operations	204.84	-1.36	—	26.88
Sale of Power	25.26	7.49

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	11.6%	14.1%	14%	16.9%	15.2%	13.6%	18.1%	20.2%
EBIT margin %	6.8%	6.2%	5%	9.9%	9.2%	6.1%	10.1%	12.1%
PAT margin %	4.4%	4.3%	2.6%	6.7%	12.2%	3.1%	5.8%	7.4%
Working capital
Receivable days	14	2	3	10	11	11	11	10
Inventory days	6	5	5	8	9	6	6	6
Payable days	1	1	2	4	2	2	2	4
NWC days	18	6	5	15	18	15	15	12
Leverage
Current ratio	1.39	2.24	2.28	0.65	0.91	0.54	0.64	0.49
Debt to EBITDA	0.54	0.12	0.13	0.29	0.45	0.71	0.78	0.7
Debt to equity	0.2	1.96	1.67	0.18	0.18	0.3	0.41	0.4
Interest coverage	13.9	3.8	2.7	5.9	4.7	2.5	3.6	4.3
Asset turnover	2.16	35.52	29.86	1.73	1.4	1.3	1.22	1.24
Return ratios
Return on assets %	9.4%	151.1%	76.4%	11.6%	17.1%	4%	7.1%	9.1%
Return on capital employed %	19.4%	31.5%	234.1%	43.7%	19%	11.6%	17.1%	18.8%
Return on equity %	14.2%	500.6%	240%	24.6%	33.1%	9.4%	16.9%	20.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%	60.24%
	2.16%	2.51%	3.27%	3.84%	3.94%	3.64%	3.61%	3.98%	3.99%	3.75%	2.98%	2.68%
	29.02%	28.13%	26.56%	25.64%	25.47%	25.57%	25.33%	24.55%	24.28%	23.49%	25.05%	24.92%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	8.58%	9.12%	9.93%	10.28%	10.35%	10.55%	10.82%	11.23%	11.49%	12.52%	11.73%	12.16%
No. of shareholders	—	—	—	—	—	—	—	—	78,887	85,289	79,810	80,971

Promoter holding up 0 percentage points since Sep 2023.

7 deals · 14 Dec 2022 – 8 Sept 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
8 Sept 2023	ANAND VIJAY SANKESHWAR	Bulk	BSE	Sell	35,00,000	₹681.08	₹238.38 Cr
8 Sept 2023	SBI MUTUAL FUND	Bulk	BSE	Buy	13,54,201	₹681.00	₹92.22 Cr
8 Sept 2023	SBI MUTUAL FUND	Bulk	BSE	Buy	5,74,804	₹681.00	₹39.14 Cr
14 Dec 2022	VIJAY BASAVANNEPPA SANKESHWAR	Bulk	NSE	Sell	47,92,000	₹570.01	₹273.15 Cr
14 Dec 2022	MAX LIFE INSURANCE COMPANY LIMITED	Bulk	NSE	Buy	7,01,754	₹570.00	₹40.00 Cr
14 Dec 2022	ICICI PRUDENTIAL MUTUAL FUND	Bulk	NSE	Buy	5,91,366	₹570.00	₹33.71 Cr
14 Dec 2022	QUANT MUTUAL FUND	Bulk	NSE	Buy	5,26,316	₹570.00	₹30.00 Cr

1–7 of 7

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. VIJAY BASAVANNEPPA SANKESHWARExecutive Director-Chairperson related to Promoter-MD
Sunil NalavadiChief Financial Officer
Mr. ANAND VIJAY SANKESHWARExecutive Director-MD
Mr. SHIVA A SANKESHWARNon-Executive - Non Independent Director
Mr. RAMANAND LAXMINARAYAN BHATExecutive Director
Mr. SHANKAR VASANTRAO PINGENon-Executive - Independent Director
Mr. SHANTILAL DHANRAJ JAINNon-Executive - Independent Director
Mr. VIRUPAXAGOUDA ANNADANAGOUDA PATILNon-Executive - Independent Director
Mr. VINAY JWALAKUMAR JAVALINon-Executive - Independent Director
Mrs. SHAILAJA SHIVASHANKAR AMBLINon-Executive - Independent Director
Mr. D V GURUPRASADNon-Executive - Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 4 fund houses

Held by these funds

6.22%

of the company's equity

All mutual funds

24.17%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

4 schemes · 4 fund houses

		Shares
Multi Cap FundNEW	Nippon India Mutual Fund	60.4 L	183.11	0.33%	3.453%	—
Multi Asset Allocation Fund	SBI Mutual Fund	47.4 L	143.69	0.69%	2.71%	-0
Multi Sector Rotation Fund	Shriram Mutual Fund	1.04 L	2.92	1.73%	0.059%	-2,400
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	208	0.01	0.01%	0%	+1

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

We wish to inform you that ICRA Limited has revised the Long- term Fund based term loan and Long term Fund based -Working Capital Loan related Credit rating of the Company from [ICRA] A+ ....19 Nov 2025 from ICRA

Investor Presentation and earnings call

Aug 2026Transcript AI SummaryPPTREC
May 2026Transcript AI Summary PPTREC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

12

Interim dividend13 Feb 2026 · ex-date₹5
Final dividend30 Jul 2025 · ex-date₹10
Interim dividend29 Nov 2024 · ex-date₹5
Final dividend31 Jul 2023 · ex-date₹5
Interim dividend10 Feb 2022 · ex-date₹8
Final dividend29 Jul 2021 · ex-date₹4
Interim dividend18 Feb 2020 · ex-date₹3
Interim dividend21 Nov 2019 · ex-date₹4
Final dividend1 Aug 2019 · ex-date₹2
Interim dividend15 Nov 2018 · ex-date₹3.5
Interim dividend2 Feb 2017 · ex-date₹4
Interim dividend8 Feb 2016 · ex-date₹5

1

Board meeting to consider results4 Aug 2026

1

Bonus 1:114 Aug 2025 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

13 announcementsExport CSV

3 Sept 2026, 10:25 amCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	11.6%	14.1%	14%	16.9%	15.2%	13.6%	18.1%	20.2%
EBIT margin %	6.8%	6.2%	5%	9.9%	9.2%	6.1%	10.1%	12.1%
PAT margin %	4.4%	4.3%	2.6%	6.7%	12.2%	3.1%	5.8%	7.4%
Working capital
Receivable days	14	2	3	10	11	11	11	10
Inventory days	6	5	5	8	9	6	6	6
Payable days	1	1	2	4	2	2	2	4
NWC days	18	6	5	15	18	15	15	12
Leverage
Current ratio	1.39	2.24	2.28	0.65	0.91	0.54	0.64	0.49
Debt to EBITDA	0.54	0.12	0.13	0.29	0.45	0.71	0.78	0.7
Debt to equity	0.2	1.96	1.67	0.18	0.18	0.3	0.41	0.4
Interest coverage	13.9	3.8	2.7	5.9	4.7	2.5	3.6	4.3
Asset turnover	2.16	35.52	29.86	1.73	1.4	1.3	1.22	1.24
Return ratios
Return on assets %	9.4%	151.1%	76.4%	11.6%	17.1%	4%	7.1%	9.1%
Return on capital employed %	19.4%	31.5%	234.1%	43.7%	19%	11.6%	17.1%	18.8%
Return on equity %	14.2%	500.6%	240%	24.6%	33.1%	9.4%	16.9%	20.7%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Container Corporation Of India LimitedCONCORCONCOR	₹33,663 Cr	₹33,687 Cr	₹9,085 Cr	₹1,962 Cr	21.5%	₹1,242 Cr	13.7%	12.5%	9.8%	10
Delhivery LimitedDELHIVERYDELHIVERY	₹29,952 Cr	₹29,955 Cr	₹11,145 Cr	₹633 Cr	6.1%	₹94 Cr	1.5%	2.8%	1.6%	7
Shadowfax Technologies LimitedSHADOWFAXSHADOWFAX	₹15,982 Cr	₹15,982 Cr	₹4,202 Cr	₹212 Cr	5%	₹112 Cr	2.7%	9.6%	10.4%	10
Blue Dart Express LimitedBLUEDARTBLUEDART	₹10,657 Cr	₹10,857 Cr	₹6,357 Cr	₹1,016 Cr	15.5%	₹287 Cr	4%	19.1%	14.8%	-17
Shiprocket LimitedSHIPROCKETSHIPROCKET	₹8,730 Cr	₹8,972 Cr	₹2,024 Cr	₹-67 Cr	-3.3%	₹-79 Cr	-3.9%	-3.1%	-5.4%	—
Transport Corporation Of India LimitedTCITCI	₹6,727 Cr	₹6,946 Cr	₹5,026 Cr	₹531 Cr	10.5%	₹460 Cr	9.4%	16.5%	19.5%	40
Tvs Supply Chain Solutions LimitedTVSSCSTVSSCS	₹5,666 Cr	₹6,776 Cr	₹11,746 Cr	₹830 Cr	7.1%	₹65 Cr	1.1%	7.9%	6%	-169
Vrl Logistics LimitedVRLLOGVRLLOG	₹4,986 Cr	₹5,441 Cr	₹3,356 Cr	₹685 Cr	20.2%	₹267 Cr	7.4%	18.8%	21.3%	12
Afcom Holdings LtdAFCOMAFCOM	₹4,251 Cr	₹4,314 Cr	₹583 Cr	₹234 Cr	40.1%	₹122 Cr	20.9%	36.7%	36%	73
Mahindra Logistics LimitedMAHLOGMAHLOG	₹4,131 Cr	₹4,174 Cr	₹7,378 Cr	₹416 Cr	5.4%	₹38 Cr	0.2%	8%	0.3%	-26
Gateway Distriparks LimitedGATEWAYGATEWAY	₹2,592 Cr	₹2,884 Cr	₹2,211 Cr	₹478 Cr	21.7%	₹244 Cr	11.7%	11.2%	11.4%	-278
Tci Express LimitedTCIEXPTCIEXP	₹1,938 Cr	₹1,971 Cr	₹1,264 Cr	₹129 Cr	10.1%	₹82 Cr	6.6%	13.7%	10.3%	44

Date	Category	Subject	Filing
3 Sept 2026, 10:25 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
2 Sept 2026, 11:54 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
1 Sept 2026, 5:02 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
1 Sept 2026, 4:24 pm	AGM/EGM Postal Ballot	Shareholder Meeting / Postal Ballot-Notice of Postal Ballot	PDF
20 Aug 2026, 5:36 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Aug 2026, 10:12 am	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
28 Jul 2026, 5:03 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
25 Jul 2026, 4:16 pm	Board Meeting	Board Meeting Intimation for Prior Intimation - Board Meeting For Q1 Results & Proposal For Buyback Of Shares - Regulation 29 Of SEBI (LODR) Regulations, 2015	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	264	198	205	192	257	271	371	318	424	558	654
	-107	-59	-44	-209	-119	-31	-180	-144	-243	-430	-294
	-155	-146	-154	11	-138	-234	-195	-171	-174	-93	-398
Net cash flow	2	-7	7	-6	0	5	-5	3	7	35	-38
Free cash flow	—	—	—	-19	135	232	177	-94	139	109	356
CFO / Operating profit %	99%	102%	87.7%	78.8%	86.3%	109.6%	91.7%	79.3%	107.8%	97.4%	100.6%

Vrl Logistics Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends12

Board meetings1

Bonus issues1

Announcements

Dividends12

Board meetings1

Bonus issues1

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

BUS OPERATIONS · revenue

12

1

1

12

1

1