Slide 1: Submission of Earnings Presentation to stock exchanges
Corporate Office: Giriraj Annexe Circuit House Road HUBBALLI- 580 029 Karnataka State Phone : 0836- 2237511 Fax : 0836 2256612 e-mail : headoffice@vrllogistics.com To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No.C/1, G-Block, Dalal Street Ba
Slide 2: Q2 FY2023-24 Earnings presentation
Q2 FY2023-24 Earnings presentation 1
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: VRL – Market Leader in B2B Parcel Segment
VRL – MARKET LEADER IN B2B PARCEL SEGMENT Only “Owned Asset” organised Pan-India surface logistics services Integrated hub-and-spoke player in Less than Truckload provider with an established brand operating model ensuring logistics business in India having one of the largest efficient consignment d
Slide 5: VRL at a glance: workforce, customers, hubs, vehicles
20800+ WORKFORCE led by experienced 8 LAKH + management 49 CUSTOMER BASE MASSIVE TRANSHIPMENT 1165 HUBS HIRED VEHICLES BRANCHES ENGAGED ON NEED BASIS 5782 OWNED VEHICLES .
Slide 6: VRL - Key Differentiators
VRL - KEY DIFFRENTIATORS India – 66% Goods transported by road Long Term Sustainability VRL Only “Owned Asset” organised player in LTL business in India Operating model Integrated hub-and-spoke operating model ensuring efficient consignment distribution VRL owns 5782 GT vehicles Efficie
Slide 7: VRL - Key Differentiators
VRL - KEY DIFFRENTIATORS ~29% vehicles Fully Depreciated Lower Costs ~ 85% vehicles Debt Free No Associated finance costs Financial performance & position Track record of growth and robust financial position EBITDA Margins @15% (H1FY24) – Amongst the best in the Industry Cash Profits/C
Slide 8: VRL - Key Differentiators
VRL - KEY DIFFRENTIATORS Most efficient collection mechanism • Provisions for Bad debt(H1FY24) ~ Rs.135 lakhs on ~ Rs.1398 Cr. Revenue. • Hardly any collectible more than 90 days. • Trade Receivables at 11 days of Total revenue in H1FY24 Procurement of diesel directly from Refineries by establis
Slide 9: Key Metrics
KEY METRICS Q2YoY QoQ H1YoY 71533 9% 71533 5% 139843 10% Total Income (Rs in Lakhs) 65667 68310 127397 1165 11% 1165 2% 1165 11% Branches 1045 1140 1045 1048 8% 1048 5% 2050 10% Tonnage Delivered (in‘000s) 967 1002 1872 84726 13% 84726 3% 84726 13% Capacity Addition (tons) 75084 81885 75084 11172 33
Slide 10: Financials
FINANCIALS Q2 Q2 YoY Q1 QoQ H1 H1 YoY Particulars (INR in Lakhs) FY24 FY23 Growth (%) FY24 Growth (%) FY24 FY23 Growth (%) Total Income 71533 65667 9% 68310 5% 139843 127397 10% Total Expenses 68822 61377 12% 63749 8% 132571 118226 12% Profit Before Tax from Continuing Operations 2711 4290 (37%) 456
Slide 11: Financials
FINANCIALS Rupees in Q2 Q2 YoY Q1 QoQ H1 H1 YoY Lakhs FY24 FY23 Growth (%) FY23 Growth (%) FY24 FY23 Growth (%) Total Income 71533 65667 9% 68310 5% 139843 127397 10% EBITDA 9783 9523 3% 11081 (12%) 20864 18945 10% Margin (%) 14% 15% 16% 15% 15% EBIT 4563 5684 (20%) 6188 (26%) 10751 11769 (9%) Margi
Slide 12: Financial Performance
FINANCIAL PERFORMANCE Revenue Analysis • GT revenue increases by 8.38% Q2YoY, up by 5.21% QoQ , & up by 9.04% H1YoY • Volumes up by 8.4% Q2YoY from 967 thousand tons to 1048 thousand tons , up by 4.57% QoQ from 1002 thousand tons to 1048 thousand tons, & up by 9.53% H1YoY from 1872 thousand tons to
Slide 13: Profitability Analysis
PROFITABILITY ANALYSIS Q2-24 Q2-23 Difference Q2 YOY (%) Reasons (% to Revenue) EBITDA 13.68% 14.50% (0.82%) • GT DIESEL consumption qty increased by 13.36%. Increase in own vehicle Kms in overall Kms • Average procuring cost per litre of Diesel down by 2.05%, from Rs 89.65 in Q2-23 to Rs 87.81 in Q
Slide 14: Profitability Analysis
PROFITABILITY ANALYSIS Q2-24 Q1-24 Difference QOQ (%) Reasons (% to Revenue) EBITDA 13.68% 16.22% (2.54%) • GT DIESEL consumption qty increased by 9.82% • Average procuring cost per litre of Diesel up by 0.3% from Rs 87.54 in Q1-24 to Rs 87.81 in Q2-24. Fuel cost 31.17% 29.76% 1.42% Procurement from
Slide 15: Profitability Analysis
PROFITABILITY ANALYSIS H1-24 H1-23 Difference H1-YOY (%) Reasons (% to Revenue) EBITDA 14.92% 14.87% 0.05% • GT DIESEL consumption qty increased by 12.94%. • Average procuring cost per litre of Diesel down by 4%, from Rs 91.38 in H1-23 to Rs 87.68 in H1-24. Procurement Fuel cost 30.48% 30.52% (0.04%
Slide 16: Tonnage and Realisation
TONNAGE AND REALISATION 1009 1031 1048 GT Tonnage (in '000 tons) 1002 905 967 877 887 847 616 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 11000+ TONS SERVICED ON A DAILY BASIS (H1FY2024) 6755 6691 6679 6683 6649 6654 6650 6681 6589 6205 Q1 FY22 Q2 FY22 Q3 FY22 Q4
Slide 17: Consistent Growth in Tonnage & Realisation
CONSISTENT GROWTH IN TONNAGE & REALISATION 6584 6669 6268 6047 5698 5825 5429 5179 4972 4689 4180 3912 3696 3416 3227 2959 2659 2787 2596 2619 2624 2541 2323 2363 2406 2094 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 GT TONNAGE ('000 TONS)
Slide 18: B2B Focus
B2B FOCUS Focus on high margin LTL business Revenue breakup (H1 FY24) • LTL involves transportation of consignments belonging to multiple customers in single vehicle. • Our wider reach and adequate infrastructure helps in aggregating Less than less than truckload consignments from various clients an
Slide 19: Vehicles: 5782 company owned vehicles
VEHICLES 1338 vehicles added in FY 23 & 5782 Company owned vehicles 525 Vehicles added in H1FY24. Total Goods Transportation Vehicles Capacity at 84726 tons Handling 11000+ tons on a daily basis in H1FY24 Additional Usage of 1000+ Hired Vehicles 1 Ton to 36 Tons Carrying Capacity 18
Slide 20: Vehicles & Capacity
VEHICLES & CAPACITY Total GT Vehicles : 5782 No of GT Vehicles 34597 GT vehicles carrying Capacity: 84726 tons - Capacity (tons) -excluding Cranes(14) and Tankers(23) 14987 14832 10212 6907 1363 966 968 1922 1828 653 652 536 48 <5 tons 5 - 10 tons 10 - 15 tons 15 - 20 tons 20 - 25 tons 25 - 30 tons
Slide 21: Network
NETWORK LADAKH-UT J&K-UT 09 02 • Market Leader In LTL Segment HP CH-UT 01 PB 11 • Hub & Spoke Model 28 UK 09 DL HY 29 38 • Focus on Geographical Expansion. UP RJ 58 24 BR 16 AS- 09 ML-01 • 49 Branches Added in H1FY24 GJ MP 19 JH 10 WB 41 TR 01 • Service extended into newer territories 91 CG UT (DM &
Slide 22: Wide Range of Sectors Served
WIDE RANGE OF SECTORS SERVED Expertise In Handling Variety Of Commodities Sports Goods Educational Goods Machinery Diversified B2B Customer Base Across Wide Range Agriculture of Industries FMCG Products & Textile Implements No single customer contributing over ~1% of Total Electrical Pharma Leather
Slide 23: Key Developments
KEY DEVELOPMENTS Addition of 49 new branches in H1FY24. Closed : 10 branches. Branches added in Q1FY24- 21, Q2FY24-28. Total number of branches as on 30.09.2023 is 1165. Expansion of existing TPT / Branch Area and increasing Branch Density in Key Markets like Hubballi, Pune, Kanpur, Delhi, Patna, Gu
Slide 24: Leverage Metrics
LEVERAGE METRICS Net Debt to Equity Gearing Ratio 17706 10144 12990 16794 28046 22.30% 16.62% 14.52% 16.63% 14.70% 0.3 0.2 0.2 0.2 0.3 FY20 FY21 FY22 FY23 H1FY24 FY19 FY20 FY21 FY22 FY23 Net debt/Equity(x) Net debt position (Lakhs) Note : Debt for the above purpose includes non-current borrowings, c
Slide 25: Focus on core goods transportation business and geographic expansion
Focus solely on core competency- Focus on increasing Geographic Goods Transportation Business. presence of in hitherto untapped markets Priority to Volume Growth. Increase in Freight Rates as & when required Well positioned to conclude planned fleet addition 24
Slide 26: For further discussions or queries, please contact
For further discussions or queries, Please contact Sunil Nalavadi Chief Financial Officer +91 93425 59298 cfo@vrllogistics.com 25