Vrl Logistics Ltd. · NSE:VRLLOG
Vrl Logistics — Q4 FY2026 Earnings Presentation
42 slides from Vrl Logistics's earnings presentation, May 18, 2026
Slide 1: Submission of Earnings Presentation cover letter
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: Financial Results for the Quarter and Year ended March 31, 2026
Financial Results for the Quarter and Year ended March 31, 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: Q4 & FY26 Key Highlights
Q4 & FY26 Key Highlights Total Income (₹ Cr.) EBITDA (₹ Cr.) PAT (₹ Cr.) Cash Flow from Operations (before working capital changes) (in ₹ 23.3% 21.4% 18.8% 20.8% 9.1% 8.4% 5.7% 7.3% Cr.) +6% 859 +2% 3245 -3% +13% 674 -3% +29% 237 667 (vs ₹ 583 in FY25) 189 74 184 72 183 598 812 3186 Net Debt (in ₹ C
Slide 6: Profit & Loss Statement
Profit & Loss Statement Profit and Loss (in ₹ Cr.) Q4FY26 Q4 FY25 YoY Q3 FY26 QoQ FY26 FY25 YoY Revenue from Operations 853 809 5% 827 3% 3221 3161 2% Other Income 6 3 4 24 24 Total Income 859 812 6% 831 3% 3245 3185 2% Direct Expenses 509 473 493 1922 1998 Employee Cost 154 139 151 587 545 Other Ex
Slide 7: Financial Performance Revenue Analysis
FINANCIAL PERFORMANCE Revenue Analysis • Revenue increases by 6% Q4YoY, 3% QoQ & 2% YoY • Driven by strong value proposition and deep customer trust, bookings stabilised in Q4FY26 with volumes increasing 3% both Q4YoY and QoQ. • While rate rationalisation and strategic discontinuation of low-margin
Slide 8: Profitability Analysis – Q4 YoY
Profitability Analysis – Q4 YoY Q4-26 Q4-25 Q4-26 Q4-25 Difference Q4 YOY (%) Reasons ₹ in Crores (% to Revenue) EBITDA 183.9 189.1 21.40% 23.30% -1.90% Increase in certain operational costs leads to decline in margins • Fuel consumption qty decreased by 2.1% • Average procuring cost per litre of Di
Slide 9: Profitability Analysis - QoQ
Profitability Analysis - QoQ Q4-26 Q3-26 Q4-26 Q3-26 Difference QoQ (%) Reasons ₹ in Crores (% to Revenue) EBITDA 183.9 173.8 21.40% 20.92% 0.48% Margins increased due to increase in Volumes and Realisation • Fuel consumption qty increased by 1.3% Fuel Cost 205.3 206.4 23.90% 24.84% -0.95% • Average
Slide 10: Profitability Analysis - YoY
Profitability Analysis - YoY FY-26 FY-25 FY-26 FY-25 Difference YOY (%) Reasons ₹ in Crores (% to Revenue) Increase in Freight Rates and Discontinuation of low margin business leads to EBITDA 673.9 598.4 20.77% 18.78% 1.99% improvement in realisation and margins • Fuel consumption qty decreased by 7
Slide 11: Volume & Realisation
Volume & Realisation GT Tonnage (in ‘000) 1130 1037 1104 1092 1093 1048 1070 1002 1006 1007 935 976 Strategic refocusing caused a temporary volume dip, followed by a strong 11500+ tons serviced on a daily basis (Q4FY2026) rebound and a more robust market position Q1 FY24 Q2 FY24 Q3FY24 Q4FY24 Q1FY25
Slide 12: Balance Sheet
Balance Sheet Assets (in ₹ Crs.) Mar-26 Mar-25 Equity & Liabilities (in ₹ Crs.) Mar-26 Mar-25 Non - Current Assets 2401 2340 Total Equity 1142 1085 Property Plant & Equipment 1707 1554 Share Capital 175 87 CWIP 23 15 Other Equity 968 997 Right-of-use assets 597 687 Non-Current Liabilities 1049 1108
Slide 13: Cash Flow Statement
Cash Flow Statement Particulars (in ₹ Cr.) Mar-26 Mar-25 Net Profit Before Tax 318 250 Adjustments for: Non -Cash Items / Other Investment or Financial Items 350 333 Operating profit before working capital changes 667 583 Changes in working capital 40 21 Cash generated from operating activities befo
Slide 14: Strong Cash Flows, Steady Shareholders Returns
Strong Cash Flows, Steady Shareholders Returns Operating Profit before working capital changes (before IND AS adjustments) Strong Cashflows helping both growth and 667 consistent shareholder return 583 Strong Cash Flow through internal accruals led to robust expansion plans 462 Strong Cash flow
Slide 15: Key Financial Ratios
Key Financial Ratios Trade Receivable turnover Net Debt to Equity (x) ratio (times) 36.5 36.1 0.4 0.4 35.6 0.3 34.9 0.2 0.2 33.9 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Debt to Equity = Debt/Networth Trade receivables turnover ratio = Revenue from operations / Average Trade Receivables ROC
Slide 16: Key Developments – FY26
Key Developments – FY26 Number of branches increased from 1253 branches in FY25 to 1293 branches in FY26. New Branches opened in FY26 is 110. Closed/Merged : 70, Net addition is 40 branches Purchase of properties at Ernakulam, Edapally, Vasanatanarsapura, Indore, Anantapur, Aroor, Trivandrum, Vishak
Slide 17: About VRL
ABOUT VRL
Slide 18: Market Leader in B2B Parcel Segment
Market Leader in B2B Parcel Segment Operating Superior Fleet Distribution Strategy & Design Network Efficient operations with wide fleet Robust Pan-India network across 28 → Only "Owned Asset" organized LTL → → variety.(Trucks, Trailers) States & UTs. player in India. → Integrated Hub-and-Spoke mode
Slide 19: 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.1.83 cr claim on Not dependent Net Debt @ 21000+ of diesel ~ Rs. 3245 Cr on any major Hardly
Slide 20: 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 21: B2B LTL Focus
B2B LTL Focus Focus on high margin LTL business LTL 89.5% • LTL involves transportation of consignments belonging to multiple customers in single vehicle • Our wider reach and adequate infrastructure helps TO PAY 69% in aggregating LTL consignments from various clients and sending them to the desire
Slide 22: 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 23: 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 40176 11965 13214 9466 5491 1367 2183 No. of GT Vehicles 481 1319 1140 243 480 2 70 <5 tons 5 - 10 tons10 - 15 tons 15 - 20 tons 20 - 25 tons 25 - 30 tons >30 tons Capacity (Tons) Total Vehicles V
Slide 24: Core to Edge Connectivity with Continuous Expansion
Core to Edge Connectivity with Continuous Expansion VRL’s Extensive Presence Across 24 States & 4 Union Leader Territories Powers Nationwide Growth and Demand Fulfillment J&K-UT in the B2B LTL Segment 9 HP Focus on 1293 50 ~ 89% CH-UT 16 PB 01 34 UK 08 Geographical Expansion DL Branches Hubs Revenue
Slide 25: 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 26: 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 27: 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 28: 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 29: 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 30: Key Strengths and Future Growth Drivers
Key Strengths and Future Growth Drivers 1 Only ‘Asset Right’ organised player in the LTL Segment 2 Broad Customer Base with Low Revenue Concentration Risk with Most Efficient Collection Mechanism 3 Cash-Rich Operations Supporting Consistent Shareholder Returns 29
Slide 31: 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 32: Shareholding Pattern as on Mar 31, 2026
Shareholding Pattern as on Mar 31, 2026 TOP TWENTY SHAREHOLDERS (PAN BASED) SL No NAME % to EQUITY CATEGORY 1 HDFC SMALL CAP FUND 9.77% MUT NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA MULTI CAP 2 FUND 3.11% MUT 3 BANDHAN VALUE FUND 3.00% MUT 4 SBI MULTI ASSET ALLOCATION FUND 2.71% MUT 2.98% 12.44
Slide 33: And VRL is all set to encash on India's growth story
And VRL is all set to encash on India’s growth story by …. ……maintaining its position as the leading service provider in the LTL segment by scaling up its infrastructure to deliver unmatched service levels committed to Quality, Reliability & Punctuality
Slide 34: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit and Loss (in ₹ Cr.) FY25 FY24 FY23 FY22 FY21* Revenue from Operations 3160.9 2,888.6 2,648.5 2,163.6 1,762.9 Other Income 24.2 21.1 14.3 16.8 12.9 Total Income 3185.2 2,909.7 2,662.9 2,180.4 1,775.8 Direct Expenses 1998.1 1,966.8 1,799.0 1,418.2 1,181.7 Empl
Slide 35: Historical Balance Sheet
Historical Balance Sheet Assets (in ₹ Cr.) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21* Equity & Liabilities (in ₹ Cr.) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21* Non - Current Assets 2339.9 2,005.2 1,612.9 1,209.2 1,021.9 Total Equity 1084.5 945.8 975.8 651.6 597.1 Property Plant & Equipment 1554.2 1,198.2 998.5 7
Slide 36: Historical Cashflow Statement
Historical Cashflow Statement Particulars (in ₹ Cr.) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21* Net Profit Before Tax 250.0 121.0 423.4 209.9 63.7 Adjustments for: Non -Cash Items / Other Investment or Financial Items 332.7 288.4 38.6 203.3 192.8 Operating profit before working capital changes 582.7 409.4
Slide 37: Industry
INDUSTRY
Slide 38: Modal Breakup of Freight Transport in India (2025-26)
Modal Breakup of Freight Transport in India (2025-26) Mode of Transport Percentage Share (%) Volume/Intensity Source Dominant mode for Roadways 66.0% NITI Aayog (Feb 2026) short to medium haul. Focus of the National Economic Survey Railways 22.0% Rail Plan 2030. 2025-26 Growth in Coastal & Ministry
Slide 39: Significance of Roadways in Indian Logistics Landscape
Significance of Roadways in INDIAN LOGISTICS LANDSCAPE VIKSIT BHARAT @ 2047 THE LOGISTICS VISION "To Transform India into a $30 Trillion Global Powerhouse" 01 02 Logistics Cost Backbone of Transportation Accessibility & Reach Aiming for 5-6% of GDP Roadways are the primary mode connecting rural and
Slide 40: Present Logistics Scenario
Present Logistics Scenario Market Dominance Ownership Strategic Solutions The landscape is dominated by the Highly fragmented industry where truck unorganized sector, particularly in Road owners with <5 vehicles comprise the Transport and Warehousing operations. majority of the market fleet. Regulat
Slide 41: Economic Performance & Market size
Economic Performance & Market size Key Metric 2014 Scenario 2026 Present Source 1 Logistics Cost as % of GDP A historic decline from the 13–14% range a Logistics Cost ~14% of GDP 7.97% of GDP Economic Survey 2026 7.97% decade ago — placing India closer to efficiency levels of the US (8.8%) and Germa
Slide 42: 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