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: Leading the way in LTL logistics - Q3 FY26 Investor Presentation
Leading the way in LTL logistics with a robust owned-asset infrastructure ensuring reliability and service excellence Q3 FY26 Investor Presentation | February 2026 1
Slide 3: Safe Harbor
Safe Harbor • 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 d
Slide 4: Agenda
Agenda Q3 & 9M FY26 Company Strategic Industry Historical Key Highlights Overview Positioning Overview Financials 3
Slide 5: Q3 & 9M FY26 Key Highlights
Current Section Q3 & 9M FY26 Company Strategic Industry Historical Key Highlights Overview Positioning Overview Financials 4
Slide 6: Q3 & 9M FY26 Key Highlights
Q3 & 9M FY26 Key Highlights Total Income (₹ Cr.) EBITDA (₹ Cr.) PAT (₹ Cr.) 20.7% 20.9% 17.2% 20.5% 7.2% 7.8% 4.6% 6.9% Net Debt (in ₹ Cr.) 0.5% +20% +52% 0.0% 2375 2386 +1% 409 490 +9% 109 165 272 (vs ₹ 304 cr. As at Sep. 2025) 831 831 172 174 59 65 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25
Slide 7: Volume and Realisation
Volume and Realisation GT Tonnage (in ‘000) 10,900+ tons serviced on a daily basis for Q3 FY26 Volume declined due to the strategic exit from low-margin business 1,092 1,130 1,070 1,093 1,104 1,002 1,048 1,006 1,007 935 976 Improved demand and customer recovery post GST reforms led to a gradual volu
Slide 8: Q3FY26 Profitability Analysis
Q3FY26 Profitability Analysis • Bulk Purchase from refineries increase to 40.02% in Q3 FY26 from 39.89% in Q3FY25 • Average procurement cost per litre increased to ₹ 86.13 in • Increase in Q3FY26 from ₹83.53 in number of Q3FY25. tolls from 1669 100.0 to 1896 • Increase in Toll Rates from Apr-25 24.8
Slide 9: 9MFY26 Profitability Analysis
9MFY26 Profitability Analysis • Bulk Purchase from refineries increase to 40.7% in 9MFY26 from 36.3% in 9MFY25 • Average procurement cost per litre reduced to ₹84.91 in 9MFY26 • Increase in • Decrease in from ₹85.19 in 9MFY25 number of Tonnage tolls from 1669 handled 100.0 to 1896 • Increase in • In
Slide 10: Profit & Loss Statement
Profit & Loss Statement Profit and Loss (in ₹ Cr.) Q3 FY26 Q3 FY25 YoY Q2 FY26 QoQ 9M FY26 9M FY25 YoY Revenue from Operations 827.0 825.2 0% 797.0 4% 2368.3 2351.9 1% ❖ Total income at ₹831 crore (vs. ₹831 crore in Q3 FY25) Other Income 3.8 5.7 7.0 17.3 22.9 impacted by volume Total Income 830.8 83
Slide 11: Key Developments in the Quarter
Key Developments in the Quarter ❖ ₹74 crs. in Q3 FY26 increased from ₹ 29 crs. in Q2FY26 Capex ❖ ₹ 56 crs. was invested to buy land and building for setting up owned premises ❖ Captive fuel pumps increased from 7 to 8 to enable higher bulk procurement and improve fuel Fuel Pumps cost efficiency ❖ Pl
Slide 12: Company Overview
Current Section Q2FY26 Company Strategic Industry Historical Key Highlights Overview Positioning Overview Financials 11
Slide 13: Leading in LTL segment with the Largest Fleet Ownership
Leading in LTL segment with the Largest Fleet Ownership Leader in Hub & 50 Years Only Asset LTL 5700+ Since Owned Owned GT Spoke LTL Focus with 90% vehicles Model inception LTL player in India contribution to sales Vehicle ERP System 24 States 5 UT 1249 branches incl. 50 Hubs Design Proprietary syst
Slide 14: From one Truck to 5700+ Trucks: VRL's Growth Journey
From one Truck to 5700+ Trucks: VRL’s Growth Journey Dr. Vijay Became a Status of the Entered into Limca Company Private Equity Sankeshwar deemed Public company changed Book of Records as name changed Placement started ‘Goods Limited from deemed the largest fleet to VRL Logistics Transport’ company
Slide 15: Core to Edge Connectivity with Continuous Expansion
Core to Edge Connectivity with Continuous Expansion VRL’s Extensive Presence Across 24 States & 5 Union Territories LADAKH-UT Leader Powers Nationwide Growth and Demand Fulfillment J&K-UT 02 in the B2B LTL Segment 8 HP Focus on 1249 50 ~ 90% CH-UT 14 PB 01 33 UK 08 Geographical Expansion Branches Hu
Slide 16: 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 17: Driving Reach with our Fleet Size and Operational Capacity
Driving Reach with our Fleet Size and Operational Capacity No of trucks & Capacity in each category 36441 12170 12983 7960 No. of GT Vehicles 5516 775 1539 1067 1155 1996 244 471 1 39 Capacity (Tons) <5 tons 5 - 10 tons 10 - 15 tons 15 - 20 tons 20 - 25 tons 25 - 30 tons >30 tons 5745 356 YoY | 37 Q
Slide 18: Diversified across Sectors and Customers
Diversified across Sectors and Customers No single customer contributing more than 1% of Total Revenue Agriculture Construction Textile Goods Products Food Products Materials Automotive Expertise In Handling Variety of Commodities Parts & Spares Diversified B2B Customer Base across Wide Range of Ind
Slide 19: Tech-Enabled Superiority in Every Kilometre
Tech-Enabled Superiority in Every Kilometre Alternative and Backup To tackle disruptions, enable robust In-house developed Enables real time operations and disaster recovery & business continuity ERP System movement of consignments Systems infrastructure Monitors vehicle movement, fuel Loading proce
Slide 20: Sustainability at core of our operations
Sustainability at core of our operations Environmentally Friendly Renewable Energy Waste Reduction and Fleet Initiatives Recycling ✓ We are committed to reduce our carbon ✓ We have invested in renewable water ✓ We have implemented comprehensive footprint through the use of a modern, solutions at our
Slide 21: Team of Excellence
Team of Excellence Dr. Vijay Sankeshwar Dr. Anand Sankeshwar Chairman & Managing Director Managing Director ❖ Honored With The Padma Shri Award in 2020 For Contribution To ❖ Honorary Doctorate by Karnataka State Open University Trade & Industry ❖ Actively Involved In Day-To-Day Business Operations.
Slide 22: Strategic Positioning
Current Section Q1FY26 Company Strategic Industry Historical Key Highlights Overview Positioning Overview Financials 21
Slide 23: 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 22
Slide 24: Only 'Asset Right' organised player in the LTL Segment
1. Only ‘Asset Right’ organised player in the LTL Segment Strategic asset ownership enables the company to deliver consistent service quality, strengthening customer trust and positioning it as a reliable long-term partner Added 1540 Vehicles in 5 years 4575 4816 5671 5994 6115 8 ^ Owned Fuel Pumps;
Slide 25: Low Concentration; High Efficiency
2. Low Concentration; High Efficiency* Widest customer base of over With Lowest Revenue 9 lakh+ 3.0% 99.0% 1.0% GST Registered customers 97.0% Concentration Risk across various sectors…. Top 10 Customers Others Top 3 Customers Others Disciplined Collection Mechanism in Place ✓ Provision for Bad Debt
Slide 26: Strong Cash Flows, Steady Shareholder Returns
3. Strong Cash Flows, Steady Shareholder Returns Operating Profit before working capital changes (before IND AS adjustments) Strong Cashflows enabling both 587 growth and consistent shareholder return ✓ Strong Cash Flows through internal 462 accruals led to robust expansion plans 413 409 Strong Cash
Slide 27: Growth Blueprint
Growth Blueprint 1 Core focus on GT Business Expansion in network & creation of necessary infrastructure Focus on Volume improvement Undertake mass marketing in existing as well as newer branch locations for 2 volume growth and identify profitable freight contracts Key Focus Areas 4 Strategic Fleet
Slide 28: Industry Overview
Current Section Q1FY26 Company Strategic Industry Historical Key Highlights Overview Positioning Overview Financials 27
Slide 29: Structural Tailwinds Driving the Logistics Industry
Structural Tailwinds Driving the Logistics Industry The Indian logistics industry is valued at ~$250 billion, contributing about 14% to the country's GDP Developments and Trends in the Indian Logistics Industry India’s logistics market • Government Initiatives & Policy Reforms- • NLP, PM GatiShakti
Slide 30: An Overview of Road Logistics in India
An Overview of Road Logistics in India 153.9 bn USD CAGR ~9% 236.3 bn USD The India Road Freight Transport Market Size : in FY25 in FY30 Significance of Road Logistics Backbone of Cost-Effective and Integrating Rural Accessibility and Reach Transportation Flexible Economies Challenges 1 Fuel Cost 2
Slide 31: Historical Financials
Current Section Q1FY26 Company Strategic Industry Historical Key Highlights Overview Positioning Overview Financials 30
Slide 32: Historical Financial Highlights
Historical Financial Highlights Total Income (₹ Cr.) EBITDA (₹ Cr.) PAT (₹ Cr.) 14.7% 17.9% 15.6% 14.2% 18.8% 2.5% 7.2% 6.2% 3.1% 5.7% +42% +16% 3,186 +23% 598 183 2,910 156 166 2,663 2,180 391 416 415 1,776 89 260 45 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Tonnage
Slide 33: Financial Ratios
Financial Ratios Net Debt to Equity (x) Working Capital Days (Days) Leverage Ratio (x) 0.4 23 9.8 0.3 18 19 7.7 0.3 7.1 16 16 6.3 6.3 13 5.3 0.2 0.2 0.2 0.3 0.4 0.3 0.6 0.7 0.5 FY21 FY22 FY23 FY24 FY25 H1 FY26 FY21 FY22 FY23 FY24 FY25 H1 FY26 FY21 FY22 FY23 FY24 FY25 H1 FY26 Net Debt/EBITDA EBITDA /
Slide 34: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit and Loss (in ₹ Cr.) FY25 FY24 FY23 FY22 FY21* Revenue from Operations 3,160.9 2,888.6 2,648.5 2,163.6 1,762.9 Other Income 25.5 21.1 14.3 16.8 12.9 Total Income 3,186.4 2,909.7 2,662.9 2,180.4 1,775.8 Direct Expenses 1,999.4 1,966.8 1,799.0 1,418.2 1,181.7 E
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 2,333.2 2,005.2 1,612.9 1,209.2 1,021.9 Total Equity 1,084.6 945.8 975.8 651.6 597.1 Property Plant & Equipment 1,554.2 1,198.2 998.
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 337.3 288.4 38.6 203.3 192.8 Operating profit before working capital changes 587.2 409.4
Slide 37: Thank You
Thank You Investor Relations: Strategic Growth Advisors (SGA) Company: VRL Logistics Limited CIN: U74140MH2010PTC204285 CIN: L60210KA1983PLC005247 Sunil Nalavadi – CFO Prachi Chhugani / Deven Dhruva cfo@vrllogistics.com prachi.chhugani@sgapl.net / deven.dhruva@sgapl.net Tel: +91 89492 92029 / + 91 9