VRL Logistics Ltd (Logistics - Warehousing/Supply Chain) — fundamental analysis, earnings data, and key metrics. PE: 18.0. ROE: 17.4%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 (ended December 31, 2025) earnings • Updated Feb 22, 2026
What: 100 vehicles delivered in Jan 2026, full delivery by Q2 FY27 supporting 10-11% volume growth
Impact: +₹327 Cr revenue
“We have ordered 500 vehicles, out of which 100 vehicles have been delivered in January 2026. This will add approximately 10% capacity to our existing fleet - Sunil Nalavadi”
What: 5-6% realization improvement from exiting unprofitable business
“We identified all low-margin businesses, and we discontinued those contracts. So that has led to further improvement in the realizations - Sunil Nalavadi”
What: 40% fuel sourced directly from refineries reducing fuel cost ratio by 160 bps
“Fuel cost as a percentage of total income declined to 24.8% from 26.4% aided by increased bulk procurement from refinery which accounted for about 40% of fuel sourcing during the quarter”
Earnings deceleration risks from management commentary
Trigger: If customer churn exceeds 5-6% sequentially
Impact: -200 bps margin impact
Management view: Around 8% of the tonnage we lost because the customers have discontinued business with us or we discontinued their business contract - Sunil Nalavadi
Monitor: Quarterly tonnage growth from new customers vs lost customers
Trigger: If wage increases exceed 3%
Impact: -150 bps margin impact
Management view: We continue to view these increases as investment in our people particularly given the industry wide shortage of skill drivers - Sunil Nalavadi
Monitor: Driver wage growth vs revenue per tonne
Key quotes from recent conference calls
“We remain confident on delivering around 10% volume growth in the next financial year. And with that 10% volume growth definitely will maintain the current EBITDA margins which are around 20% level — Sunil Nalavadi”
“Yield improvement remains a key profitability driver and reinforces our focus on sustainable margin led growth rather than volume led expansion — Sunil Nalavadi”
“Around 80% of our fleet is debt free as of now and 15% is fully depreciated providing strong operation leverage — Sunil Nalavadi”
Forward-looking targets from management for FY27
Revenue Growth Target
11%
Implied PAT Growth
15%
OPM Guidance
20%
Capex Plan
₹350 Cr
Key Milestones
• 500 vehicles delivered by Q2 FY27
• 10,900+ daily tonnage maintained
• 20% EBITDA margin maintained
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
VRL Logistics Ltd's latest quarterly results (Dec 2025) show
VRL Logistics Ltd's current PE ratio is 18.0x.
VRL Logistics Ltd's price-to-book ratio is 3.9x.
VRL Logistics Ltd's fundamental strength based on key financial ratios
VRL Logistics Ltd has a debt-to-equity ratio of N/A.
VRL Logistics Ltd's return ratios over recent years
VRL Logistics Ltd's operating cash flow is positive (FY2025).
VRL Logistics Ltd's current dividend yield is 3.05%.
VRL Logistics Ltd's shareholding pattern (Dec 2025)
VRL Logistics Ltd's promoter holding has remained stable recently.
VRL Logistics Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
VRL Logistics Ltd has 3 key growth catalysts identified from recent earnings analysis
VRL Logistics Ltd has 2 key risks worth monitoring
In Q3 FY26 (ended December 31, 2025), VRL Logistics Ltd's management highlighted
VRL Logistics Ltd's management has provided the following forward guidance for FY27
Based on quantitative research signals, here is why VRL Logistics Ltd may be worth studying
VRL Logistics Ltd investment thesis summary:
VRL Logistics Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
