Vrl Logistics Ltd. · NSE:VRLLOG
Vrl Logistics — Q2 FY27 Earnings Presentation
35 slides from Vrl Logistics's earnings presentation, Nov 2, 2026
Slide 1: Submission of Earnings Presentation cover letter
To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No.C/1, G-Block, Dalal Street Bandra – Kurla Complex, Bandra (E), Mumbai- 400 001 Mumbai – 400 051 Scrip Code: 539118 Scrip Code: VRLLOG Dear Sir / Madam, Sub: Submission of Earnings Presentation
Slide 2: Financial Results for the Quarter and Half-Year ended September 30, 2026
Financial Results for the Quarter and Half- Year ended September 30, 2026 Leading the way in LTL logistics with robust owned-asset infrastructure, ensuring reliability and service excellence
Slide 3: Disclaimer
DISCLAIMER • Certain statements contained in this document may be statements of future expectations/forward looking statements that are based on management‘s current view and assumptions and involve known and unknown risks and uncertainties that could cause actual results/performance or events to di
Slide 4: Financials
FINANCIALS
Slide 5: A New Benchmark in Performance and Progress
VRL LOGISTICS LTD A NEW BENCHMARK IN PERFORMANCE AND PROGRESS Q2 FY27 H1 FY27 REVENUE REVENUE EQUITY BUYBACK ₹ 967 Cr ₹ 1851 Cr 20% QYOY REVENUE 19% H1-YOY @ ₹ 320/- per equity share EBITDA EBITDA ₹ 226 Cr ₹ 418 Cr EQUITY BUYBACK 43% QYOY 32% H1-YOY Total Size of ₹ 280 Cr PROFIT PROFIT Record Date :
Slide 6: Q2 & H1FY27 Key Highlights
Q2 & H1FY27 Key Highlights Total Income (₹ Cr.) EBITDA (₹ Cr.) PAT (₹ Cr.) Cash Flow from Operations (before working capital 19.7% 23.3% 20.3% 22.6% 6.2% 10.7% 6.4% 9.9% changes) (in ₹ Cr.) +20% +43% +32% +106% 967 +19% 226 418 103 +84% 183 416 (vs ₹ 314 in H1FY26) 804 1851 316 158 100 1555 50 GRO
Slide 7: Profit & Loss Statement
Profit & Loss Statement Profit and Loss (in ₹ Cr.) Q2FY27 Q2FY26 Q-YoY Q1 FY27 QoQ H1FY27 H1FY26 H-YoY Revenue from Operations 961.9 797.0 21% 878.8 9% 1840.8 1541.3 19% Other Income 4.7 7.0 6.0 10.7 13.5 Total Income 966.6 803.9 20% 884.8 9% 1851.4 1554.8 19% Freight, handling and servicing cost 56
Slide 8: Financial Performance: Revenue Analysis
FINANCIAL PERFORMANCE Revenue Analysis Revenue increased by 20% Q2YoY, 9% QoQ & 19% H1YoY Driven by strong value proposition and deep customer trust, business improved with volumes increasing 11% Q2YoY , 6% QoQ & 10% H1YoY Fuel price escalation along with rationalization of freight contracts n
Slide 9: Profitability Analysis – Q2 YoY
Profitability Analysis – Q2 YoY Q2-27 Q2-26 Q2-27 Q2-26 Difference Q2 YOY (%) Reasons ₹ in Crores (% to Revenue) EBITDA 225.6 158.1 23.34% 19.67% 3.67% Increase in Volumes & Freight Rates leads to increase in margins • Fuel consumption qty increased by 5.5% • Average procuring cost per litre of Dies
Slide 10: Profitability Analysis - QoQ
Profitability Analysis - QoQ Q2-27 Q1-27 Q2-27 Q1-27 Difference QoQ (%) Reasons ₹ in Crores (% to Revenue) EBITDA 225.6 192.6 23.34% 21.76% 1.58% Margins increased due to increase in Volumes and effect of Freight hikes • Fuel consumption qty increased by 6.4% • Average purchase cost per litre of fue
Slide 11: Profitability Analysis – H1-YoY
Profitability Analysis – H1-YoY H1-27 H1-26 H1-27 H1-26 Difference H1-YoY (%) Reasons ₹ in Crores (% to Revenue) EBITDA 418.2 316.2 22.59% 20.34% 2.25% Increase in Volumes & Freight Rates leads to increase in margins • Fuel consumption qty increased by 5% • Average purchase cost per litre of fuel in
Slide 12: Volume & Realisation
Volume & Realisation GT Tonnage (in ‘000) 1079 1037 1019 1104 1093 1070 1006 1007 935 976 Strategic refocusing caused a temporary volume dip, followed by a strong 11700+ tons serviced on a daily basis (Q2FY2027) rebound and a more robust market position Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY
Slide 13: Balance Sheet
Balance Sheet Assets (in ₹ Crs.) SEP-26 SEP-25 Equity & Liabilities (in ₹ Crs.) SEP-26 SEP-25 Non - Current Assets 2475.5 2401.2 Total Equity 1324.0 1142.4 Property Plant & Equipment 1803.6 1706.8 Share Capital 174.9 174.9 CWIP 32.8 22.5 Other Equity 1149.1 967.5 Right-of-use assets 566.7 596.7 Non-
Slide 14: Cash Flow Statement
Cash Flow Statement Particulars (in ₹ Cr.) SEP-26 SEP-25 Net Profit Before Tax 245.4 136.3 Adjustments for: Non -Cash Items / Other Investment or Financial Items 170.4 177.7 Operating profit before working capital changes 415.7 314.1 Changes in working capital 0.8 26.9 Cash generated from operating
Slide 15: Key Financial Ratios
Key Financial Ratios Trade Receivable turnover ratio (times) Net Debt to Equity (x) 36.5 36.1 0.4 0.4 35.6 0.3 34.9 0.3 0.2 0.2 33.9 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 H1FY27 Debt to Equity = (Borrowings-Cash & Cash Eq-Investments) / Total Equity Trade receivables turnover ratio = Rev
Slide 16: Key Developments – H1FY27
Key Developments – H1FY27 Number of branches increased from 1293 branches in FY26 to 1337 branches in H1FY27. New Branches added in H1FY27 is 67 branches. Closed/Merged : 23 branches, Net addition is 44 branches Purchase of properties at Vijayawada, Nagpur, Chikkamagaluru, Aroor, Lucknow, Raipur
Slide 17: Growth Blueprint
Growth Blueprint 1 Core focus on GT Business Expansion in network & ownership of necessary infrastructure Focus on Volume improvement Undertake mass marketing in existing as well as newer 2 branch locations for volume growth and identify profitable freight contracts Key Focus 4 Areas Strategic Fleet
Slide 18: About VRL
ABOUT VRL
Slide 19: Market Leader in B2B Parcel Segment
Market Leader in B2B Parcel Segment Operating Strategy Superior Fleet & Design Distribution Network → Only "Owned Asset" organized LTL → Efficient operations with wide fleet → Robust Pan-India network across 28 Player in India. variety.(Trucks, Trailers) States & UTs. → Integrated Hub-and-Spoke mode
Slide 20: VRL - Key Differentiators
VRL - Key Differentiators Most Fuel Lowest Claim ratio Wide range efficient Lower Net Experienced Procurement of in the collection Debt Level Manpower Customers Industry mechanism Procurement Rs.0.68 cr claim on Not dependent Hardly any collectible Net Debt @ 22000+ of diesel ~ Rs. 1851
Slide 21: VRL's Growth Journey: From One Truck to 5900+ Trucks
VRL’s GROWTH JOURNEY From ONE Truck to 5900+ Trucks Entered into Dr. Vijay Became a Status of the Limca Book Company name Private Equity Sankeshwar deemed Public company changed Records as the changed to Placement started ‘Goods Limited from deemed largest fleet VRL Logistics Transport’ company Publ
Slide 22: B2B LTL Focus
B2B LTL Focus Focus on high margin LTL business LTL 90.4% • LTL involves transportation of consignments belonging to multiple customers in single vehicle • Our wider reach and adequate infrastructure helps TO PAY 68% in aggregating LTL consignments from various clients and sending them to the desire
Slide 23: Owned Fleet
Owned Fleet 1 W e take pride in our extensive fleet of modern, well-maintained vehicles that are optimized for efficiency and reliability. O ur diverse fleet includes a wide range of 2 trucks, trailers, and specialized equipment to handle any freight requirements. Our vehicles are regularly serviced
Slide 24: Driving Reach with our Fleet Size and Operational Capacity
Driving Reach with our Fleet Size and Operational Capacity Number of Trucks & Capacity in each category 41650 11656 12893 9725 4733 1374 2252 No. of GT Vehicles 489 1327 1112 210 469 <5 tons 5 - 10 tons 10 - 15 tons 15 - 20 tons 20 - 25 tons 25 - 30 tons Capacity (Tons) Total Vehicles Vehicles Added
Slide 25: Owned properties in 40 locations; Core to Edge Connectivity
Core to Edge Connectivity with Continuous Expansion VRL’s Extensive Presence Across 24 States & 4 Union Territories Powers Nationwide Growth and Demand Fulfillment Leader in the B2B LTL Segment Owned properties in 40 locations J&K-UT 11 HP CH-UT PB 19 Focus on 1337 50 ~ 90% 01 34 HY UK 09 DL Geograp
Slide 26: Hub & Spoke Strategy
Hub & Spoke Strategy Consolidation Distribution Fragmentation Strengths of the model Continuous Movement for Consistent On time Improved Driver Reduced length of Haul Loads Performance Recruitment & Retention Reduced Cost and Improved Vehicle Lower Carbon Footprint enhanced productivity Utilisation
Slide 27: Diversified across Sectors and Customers
Diversified across Sectors and Customers No single customer contributing more than 1% of Total Revenue Textile Agriculture Food Construction Automotive Expertise In Handling Variety of Goods Products Materials Products Parts & Spares Commodities Diversified B2B Customer Base across Wide Range of Ind
Slide 28: Tech-Enabled Superiority in Every Kilometre
Tech-Enabled Superiority in Every Kilometre To tackle disruptions, enable In-house Alternative and Enables real time operations and robust disaster recovery & developed ERP Backup Systems business continuity movement of consignments System infrastructure Monitors vehicle movement, fuel Loading proce
Slide 29: Sustainability at core of our operations
Sustainability at core of our operations Environmentally Renewable Energy Waste Reduction and Friendly Fleet Initiatives Recycling We are committed to reduce our We have invested in renewable water We have implemented comprehensive carbon footprint through the use of solutions at our facilitie
Slide 30: Leadership Team of Excellence
Leadership Team of Excellence Dr. Vijay Sankeshwar Chairman & Dr. Anand Sankeshwar Managing Director Managing Director Honored With The Padmashri Award in 2020 For Honorary Doctorate by Karnataka State Open University contribution To Trade & Industry Actively Involved In Day-To-Day Business Op
Slide 31: Key Strengths and Future Growth Drivers; Shareholding Pattern
Shareholding Pattern as on September 30, 2026 Key Strengths and Future Growth Drivers 1 Only ‘Asset Right’ organised player 3.69% 11.57% in the LTL Segment 2 Cash-Rich Operations 24.50% 60.24% 2 Supporting Consistent 3 Shareholder Returns Broad Customer Base with Low Revenue Concentration Risk Promo
Slide 32: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit and Loss (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Revenue from Operations 3221.1 3160.9 2,888.6 2,648.5 2,163.6 Other Income 23.7 24.2 21.1 14.3 16.8 Total Income 3244.8 3185.2 2,909.7 2,662.9 2,180.4 Direct Expenses 1922.5 1998.1 1,966.8 1,799.0 1,418.2 Employee
Slide 33: Historical Balance Sheet
Historical Balance Sheet Assets (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Equity & Liabilities (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Non - Current Assets 2401 2339.9 2,005.2 1,612.9 1,209.2 Total Equity 1142 1084.5 945.8 975.8 651.6 Property Plant & Equipment 1707 1554.2 1,198.2 998.5 746.9 Share Capital 17
Slide 34: Historical Cashflow Statement
Historical Cashflow Statement Particulars (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Net Profit Before Tax 318 250.0 121.0 423.4 209.9 Adjustments for: Non -Cash Items / Other Investment or 350 332.7 288.4 38.6 203.3 Financial Items Operating profit before working capital changes 667 582.7 409.4 462.0 413.
Slide 35: For further discussions or queries, please contact
For further discussions or queries, Please contact Sunil Nalavadi Chief Financial Officer +91 93425 59298 [email protected] 34