VRL Logistics Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,555 Cr
- P/E
- 17.04
- ROE
- 21.71%
- PEG
- -1.86
- Price to sales
- 1.36
- Debt to equity
- 1.01
- 52W high / low
- ₹305 / ₹230
- Sales growth (5Y)
- 12.81%
- EBITDA margin
- 20.42%
- Net profit margin
- 7.50%
- Promoter holding
- 60.24%
- Sales (last year)
- ₹3,356 Cr
VRL Logistics Ltd 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)
Guidance scorecard · Q1 FY27 call
What VRL Logistics Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
0–10%- VRL Logistics expects around 8% volume growth on a full-year basis, up from the earlier guidance of 6%-7%.
- Volume growth is driven by branch network expansion (from around 900-950 branches two years ago to 1,300 now) and geography expansion, especially into Eastern and Northeast sectors.
- Freight rate increases have been implemented to offset rising fuel costs, supporting revenue growth without impacting volume growth.
- Estimated CAPEX of Rs. 200-240 crores annually (vehicles and property) to support volume growth, while maintaining healthy cash flows and stable debt levels.
2 more points from VRL Logistics Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what VRL Logistics Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Annual CAPEX guidance is around Rs. 220-240 crores.
- CAPEX split: approximately Rs. 120-140 crores for vehicles and Rs. 80-100 crores for property (sorting centers and hubs).
- Current quarter CAPEX: Rs. 18 crores on vehicles, Rs. 49 crores on land and building facilities at critical locations.
- Plan to convert more hubs to owned properties; currently 12-13 out of 50 hubs are company-owned.
- No plans for large inorganic acquisitions; focus is on organic branch expansion.
- CAPEX expected to align with volume growth (~7-8% annually).
2 more points from VRL Logistics Ltd's call on capex
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FundraisingQ1 FY27 call
See what VRL Logistics Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what VRL Logistics Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | 40%+ | Flat | ₹16,984 Cr | 98.6 | |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
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Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of VRL Logistics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of VRL Logistics Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 698 | 674 | 709 | 737 | 768 | 727 | 799 | 825 | 809 | 744 | 797 | 827 | 853 |
| Expenses + | 584 | 572 | 617 | 642 | 663 | 640 | 666 | 659 | 622 | 593 | 646 | 657 | 675 |
| Operating Profit | 114 | 102 | 92 | 94 | 105 | 87 | 133 | 166 | 187 | 152 | 151 | 170 | 177 |
| OPM % | 16% | 15% | 13% | 13% | 14% | 12% | 17% | 20% | 23% | 20% | 19% | 21% | 21% |
| Other Income + | 137 | 9 | 6 | 2 | 4 | 15 | 2 | 6 | 3 | 6 | 7 | 4 | 6 |
| Interest | 13 | 16 | 19 | 21 | 22 | 23 | 22 | 24 | 26 | 26 | 24 | 22 | 23 |
| Depreciation | 45 | 49 | 52 | 57 | 58 | 62 | 64 | 65 | 64 | 65 | 65 | 68 | 64 |
| Profit before tax | 192 | 46 | 27 | 19 | 29 | 18 | 49 | 83 | 100 | 67 | 69 | 84 | 98 |
| Tax % | -0% | 26% | 28% | 27% | 26% | 24% | 27% | 29% | 25% | 26% | 28% | 23% | 26% |
| Net Profit + | 193 | 34 | 20 | 14 | 22 | 13 | 36 | 59 | 74 | 50 | 50 | 65 | 72 |
| EPS in Rs | 10.93 | 1.94 | 1.13 | 0.78 | 1.23 | 0.77 | 2.05 | 3.40 | 4.25 | 2.86 | 2.85 | 3.70 | 4.12 |
Financials of VRL Logistics Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,673 | 1,723 | 1,803 | 1,922 | 2,110 | 2,119 | 1,763 | 2,164 | 2,649 | 2,889 | 3,161 | 3,221 |
| Expenses + | 1,396 | 1,451 | 1,584 | 1,688 | 1,865 | 1,815 | 1,515 | 1,788 | 2,245 | 2,494 | 2,587 | 2,571 |
| Operating Profit | 277 | 272 | 220 | 235 | 245 | 303 | 248 | 376 | 404 | 394 | 574 | 650 |
| OPM % | 17% | 16% | 12% | 12% | 12% | 14% | 14% | 17% | 15% | 14% | 18% | 20% |
| Other Income + | 8 | 8 | 9 | 14 | 8 | 6 | 13 | 21 | 171 | 21 | 25 | 24 |
| Interest | 60 | 32 | 25 | 12 | 11 | 37 | 37 | 44 | 56 | 79 | 96 | 95 |
| Depreciation | 88 | 90 | 98 | 98 | 101 | 168 | 160 | 144 | 159 | 216 | 254 | 261 |
| Profit before tax | 138 | 158 | 105 | 139 | 140 | 104 | 64 | 209 | 360 | 121 | 250 | 318 |
| Tax % | 34% | 34% | 33% | 34% | 35% | 14% | 29% | 23% | 10% | 26% | 27% | 26% |
| Net Profit + | 91 | 104 | 70 | 93 | 92 | 90 | 45 | 160 | 323 | 89 | 183 | 237 |
| EPS in Rs | 5.33 | 5.71 | 3.86 | 5.12 | 5.09 | 4.99 | 2.55 | 9.06 | 18.29 | 5.08 | 10.46 | 13.54 |
| Dividend Payout % | 38% | 44% | 52% | 0% | 54% | 70% | 78% | 44% | 14% | 0% | 72% | 0% |
Financials of VRL Logistics Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | 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 | 91 | 90 | 90 | 90 | 88 | 88 | 88 | 87 | 87 | 175 |
| Reserves | 271 | 423 | 450 | 503 | 556 | 527 | 509 | 563 | 888 | 858 | 997 | 968 |
| Borrowings + | 443 | 262 | 185 | 81 | 141 | 454 | 422 | 537 | 720 | 1,036 | 1,226 | 1,154 |
| Other Liabilities + | 154 | 166 | 171 | 188 | 191 | 154 | 180 | 192 | 196 | 232 | 275 | 309 |
| Total Liabilities | 953 | 942 | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,214 | 2,586 | 2,605 |
| Fixed Assets + | 707 | 712 | 694 | 625 | 705 | 990 | 954 | 1,098 | 1,482 | 1,901 | 2,243 | 2,305 |
| CWIP | 9 | 16 | 2 | 8 | 42 | 4 | 6 | 35 | 38 | 24 | 15 | 22 |
| Investments | 0 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 0 | 0 | 0 |
| Other Assets + | 237 | 211 | 201 | 230 | 231 | 230 | 238 | 247 | 356 | 290 | 328 | 278 |
| Total Assets | 953 | 942 | 897 | 862 | 978 | 1,225 | 1,199 | 1,380 | 1,892 | 2,214 | 2,586 | 2,605 |
Financials of VRL Logistics Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 235 | 264 | 198 | 205 | 192 | 257 | 272 | 371 | 318 | 424 | 558 | 654 |
| Cash from Investing Activity + | -49 | -107 | -59 | -44 | -209 | -119 | -32 | -180 | -144 | -243 | -430 | -294 |
| Cash from Financing Activity + | -185 | -155 | -146 | -154 | 11 | -138 | -234 | -201 | -171 | -174 | -93 | -398 |
| Net Cash Flow | 2 | 2 | -7 | 7 | -6 | 0 | 6 | -10 | 3 | 7 | 35 | -38 |
| Free Cash Flow | 186 | 154 | 136 | 160 | -19 | 137 | 239 | 190 | -90 | 148 | 128 | 359 |
| CFO/OP | 95% | 110% | 99% | 109% | 100% | 99% | 115% | 114% | 100% | 114% | 106% | 109% |
Financials of VRL Logistics Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 20 | 15 | 15 | 15 | 14 | 15 | 13 | 11 | 11 | 11 | 11 | 10 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 20 | 15 | 15 | 15 | 14 | 15 | 13 | 11 | 11 | 11 | 11 | 10 |
| Working Capital Days | -37 | -15 | -10 | -1 | 6 | -15 | -21 | -18 | -16 | -25 | -22 | -26 |
| ROCE % | 24% | 24% | 17% | 22% | 21% | 16% | 10% | 22% | 18% | 11% | 16% | 18% |
Guidance history
How VRL Logistics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 0–10% | Flat | Planned | — | — |
| Q4 FY26 call → | 0–10% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
30 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −3.7% | 57% |
| Last 6 months | +2.7% | 59% |
| Last 3 months | −2.2% | 64% |
The price is 33.6% below its all-time high of ₹391.3 (15 Dec 2023). Stocks more than 20% below their peak have their score halved, so 59 became 30.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For VRL Logistics Ltd: 0.4 × 57 + 0.4 × 59 + 0.2 × 64 = 59, halved to 30 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What VRL Logistics Ltd's management said in earlier quarters
- Q4 FY25 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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