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VRL Logistics

Q2 FY26Transport Services

VRL Logistics Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹290
Market cap₹5.1K Cr
P/E18.9
Updated26 Aug 2026
Read4 min read

The short version

Q2 saw ~14%-15% of volumes from new customers and 2%-3% growth from existing customers on a quarter-on-quarter (QoQ) basis. VRL Logistics expects quarter-on-quarter volume growth of around 4% to 5% in Q3 and Q4 FY '26.

From VRL Logistics's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

  • Q2 saw ~14%-15% of volumes from new customers and 2%-3% growth from existing customers on a quarter-on-quarter (QoQ) basis.
  • Expected continued QoQ volume growth in Q3 and Q4.
  • Full-year revenue growth is projected at around 4%-5%, with EBITDA margin maintained at ~19%.
  • Stable rate rationalization completed by April, no further price hikes planned.
  • Medium-term volume growth target is 8%-10% annually from FY '27 onwards.
  • Growth driven by new customer acquisition, expanded branch network, and operational efficiencies.
  • Door-to-door service now constitutes ~40% of volume, indicating potential for service expansion.
  • Anticipated tonnage growth of 5%-6% QoQ from Q2 to Q3 and 7%-8% in Q4.

Profitability & Margins

See what VRL Logistics said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Planned capital expenditure (capex) of around INR 160 crores in the second half of FY '26.
  • Approximately INR 130-140 crores earmarked for investment in land, buildings, company-owned branches, and transshipment hubs at key locations such as Salem, Ernakulam, and Tumkur industrial area.
  • Around INR 10-20 crores allocated for vehicle additions and other capital needs.
  • Conversion of leased branches to owned facilities with an investment of INR 23 crores in 3-4 key locations.
  • Addition of 1-2 new fuel pumps in Visakhapatnam and Chennai to increase refinery fuel procurement from current 40-41% to 43-44%, improving fuel cost efficiency.
  • Future vehicle additions expected but modest, with possible reliance on outside vehicle engagement to manage incremental tonnage.
  • Capex mainly funded through internal accruals, supported by a strong balance sheet and healthy cash flows.

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Ranked on what management guided this quarter

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what VRL Logistics said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The provided transcript of VRL Logistics Limited's Q2 and FY '26 earnings call does not explicitly mention the current or expected order book or pending orders. However, some related insights include: - The company is focusing on adding new customers, which contributed around 14% to quarter-on-quarter volume growth in Q2. - There is an expected quarter-on-quarter volume growth of 4% to 5% in the upcoming quarters (Q3 and Q4). - On a full-year basis, the company anticipates 4% to 5% revenue growth, maintaining EBITDA around 19%. - The company is optimistic about gaining back volumes from customers who had temporarily shifted to other transporters. - From FY '27 onwards, an 8% to 10% volume growth is expected. - Branch expansion and product-wise expansion are facilitating growth and customer additions. No specific data on order book or pending orders was disclosed in the transcript.

VRL Logistics — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹853 Cr, net profit ₹72 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were VRL Logistics Q2 FY26 results?

Q2 saw ~14%-15% of volumes from new customers and 2%-3% growth from existing customers on a quarter-on-quarter (QoQ) basis. VRL Logistics expects quarter-on-quarter volume growth of around 4% to 5% in Q3 and Q4 FY '26.

What is VRL Logistics share price analysis?

VRL Logistics currently shows a neutral. The stock trades at a P/E of 18.9 with a market cap of ₹5,051 Cr. Investors should review the full earnings analysis for detailed insights.

Is VRL Logistics planning capital expenditure?

Planned capital expenditure (capex) of around INR 160 crores in the second half of FY '26.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.