VRL Logistics share price today

VRL Logistics Ltd's share price was ₹312.60 at the close on 5 November 2026. It has been rising for 10 weeks. That is 15.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹230 and ₹313, and at that close it was at the high of that range.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today VRL Logistics Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +105% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: highest quarterly profit in 13 quarters and highest quarterly revenue in 15 quarters.

1. Highest quarterly profit in 13 quarters

   Profit of ₹81 crore in the June 2026 quarter is the highest of the last 13 quarters.

   Why: Profit hit its highest because more goods moved and customers accepted higher freight rates, which covered fuel cost increases.

   Next results: check whether the margin holds as fuel and driver costs rise.

   From the earnings call on 5 Aug 2026.

2. Highest quarterly revenue in 15 quarters

   Revenue of ₹879 crore in the June 2026 quarter is the highest of the last 15 quarters.

   Why: Revenue hit its highest because more goods moved and customers accepted higher freight rates, which covered fuel cost increases.

   Next results: check whether goods carried keep growing at the pace management expects.

   From the earnings call on 5 Aug 2026.

For July to September 2026 (the quarter ended 30 September 2026), VRL Logistics reported revenue of ₹962 crore, up 20.7% from ₹797 crore a year earlier, and a profit of ₹103 crore, up 106.0% from ₹50.0 crore.

VRL Logistics results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 5 August 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

VRL Logistics closed at ₹312.60 on 5 November 2026, up 14.5% from ₹273.10 a year earlier (7 November 2025) and up 42.5% over five years. Its highest weekly close since February 2016 was ₹391.30 on 15 December 2023.

VRL Logistics share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

565 weekly closes from 26 February 2016 to 5 November 2026.

5 Nov 2026: VRL Logistics closed at ₹312.60, up 20.3% on the week and up 10.0% on the month. Results for July to September 2026: Revenue up 20.7% and profit up 106.0% on a year earlier.

Earlier

• 5 Aug 2026: VRL Logistics held its results call for April to June 2026. Management guided: Tonnage growth around 8% in FY27, with 7-8% volume growth over the next 3-4 years.
• 13 Feb 2026: ex-date for an interim dividend of ₹5 a share.
• 14 Aug 2025: Bonus issue: 1 new share for every 1 held (ex-date).

VRL Logistics paid ₹5 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.60% at the ₹312.60 close on 5 November 2026. The last was an interim dividend of ₹5 a share, ex-date 13 February 2026.

VRL Logistics dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. VRL Logistics Ltd paid out 37% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 5 August 2026, VRL Logistics' management guided: Tonnage growth around 8% in FY27, with 7-8% volume growth over the next 3-4 years.

“An EBITDA margin of around 20% to 21% is maintainable even over the next 3 to 4 years.”Sunil Nalavadi, CFO, on the call for April to June 2026

What management guided

• July to September 2026 realization improvement of ₹50-100 per ton if fuel rates do not decline.
• July to September 2026 tonnage growth at least 9%, with July around 10%.
• FY27 cash profit/free cash flow ₹480-500 crore to fund capital spending and buyback without year-end debt increasing; annual shareholder rewards remain planned.
• FY27 annual capital spending stated as ₹220-240 crore initially and ₹200-240 crore later; vehicle/property split remained unresolved.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 5 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The changes showing up in VRL Logistics' own numbers are debt falling. It is too early to say whether they last.

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Checked against results and calls up to April to June 2026, 10 October 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

A reported operating margin below the guided band while tonnage recovery stalls would show that price pass-through and network utilization are no longer offsetting fuel, labour and hired-vehicle costs.

Each change stops working if

• Price pass-through: Customers reject rate increases or the pass-through lag exceeds the period of fuel and hired-vehicle cost inflation.
• Branch-led volume recovery: New branches fail to reach break-even on the stated timetable or returning customers do not convert into sustained tonnage.
• Owned-asset utilization: Scrappage or demand volatility causes hired vehicles to rise faster than owned-fleet utilization.
• : Capital spending rises while operating cash falls and receivable days reverse upward.

The main risks

• Guidance revisions: The tonnage goal, capital-spending range and fleet narrative have changed across recent calls. ⚠ estimate
• Fuel and hired-vehicle cost pressure: Fuel procurement remains suspended at the cited relative-price condition and hired capacity has added cost pressure. ⚠ estimate
• Volume recovery falls short: The growth case depends on customer returns, branch maturation and broader geographic coverage. ⚠ estimate
• Capital allocation and buyback funding: Management plans capital spending and a buyback from internal cash without year-end debt increasing. ⚠ estimate

Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When VRL Logistics reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Net debt at September 2026 stays at or below ₹391 crore and interest expense stays at or below 23 crore while capital spending continues.

VRL Logistics is on 2 of our India lists: Multibagger study list and Momentum stocks.

VRL Logistics Ltd earned ₹103 Cr of net profit in the Sep 2026 quarter, +106.0% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹237 Cr. Over 10 years profit has grown 8.6% a year on average. That is 10.7% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹50.0 Cr.

For the full year, FY26 profit was ₹237 Cr (+29.5% on the year before).

Why profit moved: revenue changed +20.7% on a year earlier and the margin moved +4.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +43.9% and revenue +11.1%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

VRL Logistics Ltd reported ₹962 Cr of revenue in the Sep 2026 quarter, +20.7% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 6.5% a year on average. The last full year, FY26, came in at ₹3,221 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Management attributes the latest margin expansion to higher freight realization and says contractual accounts are linked to fuel movements. This is the Input Cost Pass-Through Test: the driver works only if realized rate changes arrive before fuel and hired-capacity costs erode the reported margin.

The last four reported quarters add to ₹3,521 Cr.

FY26 revenue was ₹3,221 Cr, +1.9% on the year before.

Recent pace: the last four quarters grew +11.1% on average, against 6.5% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +10.9%, against +7.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +37.8%, against +94.3% a year (rolling over).

VRL Logistics Ltd's operating margin was 23.0% in the Sep 2026 quarter, 4.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 12.0% and 20.0%. The latest quarter is above every full year in that period.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +4.0 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.

Over the last 3 years, 321% of VRL Logistics Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹654 Cr of operating cash against ₹237 Cr of profit. After ₹330 Cr of spending on assets, ₹324 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 321% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 2.1× depreciation over three years. The next section checks what that spending is building.

VRL Logistics Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 10 days in FY26, down from 13 days in FY21. It spent ₹1,538 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹3,221 Cr, each day of that cycle ties up about ₹8.8 Cr, so roughly ₹88.0 Cr is tied up in the business at any time.

Spending on assets: ₹1,538 Cr over the last 3 years, against ₹731 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹22.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

VRL Logistics Ltd's P/E is 17.2×, near the low end of its own history: it has been lower only 6% of the time. Its usual P/E (the middle reading) is 31.7×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.