# VRL Logistics share price today (VRL Logistics Ltd, NSE: VRLLOG)

> VRL Logistics share price today: ₹295.45 at the NSE close on 3 November 2026, up 5.6% in a year. VRL Logistics (NSE: VRLLOG) is worth ₹5,167 crore, trades at a P/E of 19.3 and has closed between ₹229.89 and ₹297.70 over the past 52 weeks. > VRL Logistics Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 12% of past readings. VRLLOG · Logistics - Warehousing/Supply Chain · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/vrl-logistics-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹295.45 (+5.6% in a year)
- P/E: 19.3× (lower than 88% of the last 11 years)
- Revenue (Jun 2026): ₹879 Cr (+18.1% on a year ago)
- Profit (Jun 2026): ₹81.0 Cr (+62.0% on a year ago)
- Operating margin: 21.0% (+1.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 14.8%, against a 12.0% cost of capital: +2.8 points

Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. ## What is the VRL Logistics share price today? VRL Logistics Ltd's share price was ₹295.45 at the close on 3 November 2026. It has been rising for 10 weeks. That is 9.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹230 and ₹298, and at that close it sat 97% of the way up from that low. 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 +94% 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. ## What changed at VRL Logistics this quarter? 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. ## What are VRL Logistics' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), VRL Logistics reported revenue of ₹879 crore, up 18.1% from ₹744 crore a year earlier, and a profit of ₹81.0 crore, up 62.0% from ₹50.0 crore. ### VRL Logistics results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹879 crore | ₹744 crore | +18.1% |
| Profit | ₹81.0 crore | ₹50.0 crore | +62.0% |
| Earnings per share | ₹4.60 | ₹2.86 | +60.8% |
| Operating margin | 21.0% | 20.0% | +1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). VRL Logistics' management discussed these results on a call held on 5 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the VRL Logistics share price history? VRL Logistics closed at ₹295.45 on 3 November 2026, up 5.6% from ₹279.85 a year earlier (31 October 2025) and up 34.7% over five years. Its highest weekly close since February 2016 was ₹391.30 on 15 December 2023. ### VRL Logistics share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹260.10 | +13.6% |
| 1 month ago · 1 Oct 2026 | ₹285.05 | +3.6% |
| 6 months ago · 30 Apr 2026 | ₹253.17 | +16.7% |
| 1 year ago · 31 Oct 2025 | ₹279.85 | +5.6% |
| 3 years ago · 3 Nov 2023 | ₹338.18 | −12.6% |
| 5 years ago · 4 Nov 2021 | ₹219.40 | +34.7% |
| 10 years ago · 4 Nov 2016 | ₹142.38 | +107.5% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹152.68 | +93.5% |
| Highest weekly close since February 2016 · 15 Dec 2023 | ₹391.30 | −24.5% |
| Lowest weekly close since February 2016 · 3 Apr 2020 | ₹71.53 | +313.0% |
| 52-week high (weekly close) · 4 Sep 2026 | ₹297.70 | −0.8% |
| 52-week low (weekly close) · 12 Jun 2026 | ₹229.89 | +28.5% |

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 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (565 weekly closes from 26 February 2016 to 3 November 2026.)

## What is the latest news on VRL Logistics? 3 Nov 2026: VRL Logistics closed at ₹295.45, up 13.6% on the week and up 3.6% on the month. 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. ### Earlier

- Results for April to June 2026: Revenue up 18.1% and profit up 62.0% on a year earlier. - 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). ## What dividend does VRL Logistics pay? VRL Logistics paid ₹5 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 1.69% at the ₹295.45 close on 3 November 2026. The last was an interim dividend of ₹5 a share, ex-date 13 February 2026. ### VRL Logistics dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 13 Feb 2026 | ₹5 | Interim | same day |
| 30 Jul 2025 | ₹10 | Dividend | same day |
| 29 Nov 2024 | ₹5 | Interim | same day |
| 31 Jul 2023 | ₹5 | Dividend | same day |
| 10 Feb 2022 | ₹8 | Interim | 11 Feb 2022 |
| 29 Jul 2021 | ₹4 | Dividend | 31 Jul 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did VRL Logistics management say on the latest results call? 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](https://files.tijorifinance.com/insight/india/5728/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 5 August 2026.)

## What is the future of VRL Logistics? What is changing in the business? The changes showing up in VRL Logistics' own numbers are debt falling. It is too early to say whether they last. Debt falling too early to call

Interest cost fell from 98 crore in the four quarters to June 2025 to 92 crore in the four quarters to June 2026. Net debt fell to ₹272 crore in December 2025 from ₹304 crore, rose to ₹440 crore by March 2026 after ₹298 crore of FY26 capital spending, then fell to ₹391 crore by June 2026 from operating cash. Why it may last: whether interest keeps falling depends on that plan landing. Next check: Net debt at September 2026 stays at or below ₹391 crore and interest expense stays at or below 23 crore while capital spending continues. Quarter by quarter, 4 quarters

July to September 2025

No VRL summary for this quarter (the stored summary is a different company). Interest was 24 crore vs 22 crore a year earlier, so it rose; balance-sheet borrowings fell to 1,107 crore at Sep 2025 from 1,228 crore at Mar 2025. ✓ fact

October to December 2025

Net debt down to ₹272 crore; interest 22 crore vs 24 crore a year earlier. ✓ fact

From our notes of the call for October to December 2025: Net debt ₹272 crore (down from ₹304 crore Sept 2025)

January to March 2026

Capital spending of ₹298 crore in FY26 pushed net debt back up to ₹440 crore by March 2026 (figure from the June 2026 call); borrowings 1,154 crore at Mar 2026 vs 1,107 crore at Sep 2025. Interest was 23 crore, still below 26 crore a year earlier but up from 22 crore the quarter before. ✓ fact

From our notes of the call for January to March 2026: Capital spending composition FY26-27: ₹298 crore deployed FY26 (₹101 crore vehicles, ₹165 crore land/buildings)

April to June 2026

Net debt fell from ₹440 crore to ₹391 crore from surplus cash after ₹76 crore of capital spending; interest 23 crore, flat on the quarter before and below 26 crore a year earlier. ✓ fact

From our notes of the call for April to June 2026: Surplus cash reduced net debt from ₹440 crore at March 31 to ₹391 crore at quarter-end. 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.)

## What could change the VRL Logistics story? What are the risks? 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.)

## What to watch in VRL Logistics' next results? When VRL Logistics reports July to September 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. | What to check | Why |
| --- | --- |
| Net debt at September 2026 stays at or below ₹391 crore and interest expense stays at or below 23 crore while capital spending continues. | Debt falling |
| Q2 realization and tonnage recovery - check whether the full-quarter pricing effect arrives without losing volume momentum. | From the call |
| Operating margin resilience under fuel, driver-incentive, and hired-vehicle costs - check whether pricing continues to offset pressure. | From the call |
| Bulk-fuel procurement restart after the spread reverses - check whether refinery purchases resume and operating costs benefit. | From the call |
| Property and vehicle capital spending plus buyback funding - check execution without year-end debt increasing. | From the call |

## Which stock lists is VRL Logistics on? VRL Logistics is on 3 of our India lists: Multibagger study list, Momentum stocks and Dividend stocks. - [Multibagger study list Study stage: middle](https://www.sectoralpha.in/multibagger-stocks-india)
- [Momentum stocks Market cap cr: 4877.659099653713](https://www.sectoralpha.in/momentum-stocks-india)
- [Dividend stocks Regular dividend yield (%): 1.79](https://www.sectoralpha.in/dividend-stocks-india)

## Is VRL Logistics profitable? VRL Logistics Ltd earned ₹81.0 Cr of net profit in the Jun 2026 quarter, +62.0% on the same quarter a year earlier. Full-year FY26 profit was ₹237 Cr. Over 10 years profit has grown 8.6% a year on average. That is 9.2% of the quarter's revenue. 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 +18.1% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +27.1% and revenue +5.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does VRL Logistics make, and is it growing? VRL Logistics Ltd reported ₹879 Cr of revenue in the Jun 2026 quarter, +18.1% on the same quarter a year earlier. That is the 3rd 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. 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 ₹3,356 Cr. FY26 revenue was ₹3,221 Cr, +1.9% on the year before. Recent pace: the last four quarters grew +5.9% on average, against 6.5% a year over the longer run, so this year is growing at about the same pace as its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +5.6%, against +6.8% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +22.4%, against +97.1% a year (rolling over). ## How much of every ₹100 of sales does VRL Logistics keep? VRL Logistics Ltd's operating margin was 21.0% in the Jun 2026 quarter, 1.0 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. Why the margin moved: operating margin changed +0.9 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. ## Is VRL Logistics' profit turning into cash? 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. 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. ## Where does VRL Logistics' cash go? 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. 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. ## What is VRL Logistics' P/E ratio, and how does it compare with its own history? VRL Logistics Ltd's P/E is 19.3×, near the low end of its own history: it has been lower only 12% of the time. Its usual P/E (the middle reading) is 31.8×, 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. 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. Why the multiple is where it is: over the past year earnings per share moved +29.4% while the price moved +5.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +6.1% a year; about +21.6% a year came from earnings growth and about −15.5 percentage points from the multiple (the market paying less); over 10 years the price moved +7.6% a year; about +13.6% a year came from earnings growth and about −6.0 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the VRL Logistics share price assume? Worked out from its price on 11 October 2026, VRL Logistics Ltd's share price assumed profit growth of about 10.4% a year. Over the past 10 years its profit actually grew 8.6% a year. Today its P/E is 19.3×, lower than 88% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the VRL Logistics business getting better or worse? VRL Logistics Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +174.1% at its peak to +22.4%, but the business is still expanding, with ROCE steady at 20.6%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the VRL Logistics story, and has it been checked? VRL Logistics Ltd's story is not scored yet against the checks our research set on 22 August 2026. Our read, 22 August 2026. From the numbers. From the price. Price stage 2, week 10, below its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. What is not proven yet. 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. What would change our mind. 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. The test written in advance. 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. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Guidance revisions. Measured by: Guidance revisions A further reduction in full-year tonnage or capital-spending guidance. by the next result. What the company does. The latest quarter combined higher revenue, profit and reported operating margin with price pass-through and branch-led volume recovery. What the surface reading misses. What the surface reading misses. The surface reading is: A high operating margin reads as evidence of improved business economics. The research reads it further: The margin can reflect rate pass-through and utilization during a favourable operating phase rather than a permanent change in cost structure. Lever 4 · Paying down debt: building. Operating cash has covered the latest year's capital spending and debt reduction while receivables tightened. It stops working if Capital spending rises while operating cash falls and receivable days reverse upward. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did VRL Logistics management deliver what it promised? What VRL Logistics Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. FY27 Volume Guidance Changed Twice Without Full Reconciliation · 5 August 2026. February 2026 management expected roughly 10%-11% FY27 tonnage growth, while May 2026 reset the range to 6%-7%. In August 2026, the latest call moved the goal to 8%; management supported the increase versus May with 9% Q1 growth and returning customers, but did not reconcile the lower goal with its earlier 10%-11% expectation. FY27 Capex Guidance Cut · 5 August 2026. May 2026 guided FY27 capex to INR300-350 crores, consistent with the INR350 crores discussed in February 2026. August 2026 reduced the full-year range to INR220-240 crores, roughly a 29% midpoint cut versus May, without explaining whether projects were deferred, cancelled, or reprioritized. Vehicle Scrappage Plan Reversed · 5 August 2026. In May 2026, management explicitly said that no scrappage was planned for the vehicle program and emphasized additions. In August 2026, it said older vehicles were being scrapped as part of ongoing fleet rationalization, with no explanation of the change; this affects expected capacity additions and replacement capex. Volume Growth Guidance Downgrade · 19 May 2026. In the Feb 2026 call, management provided firm guidance for 10% to 11% tonnage growth in FY27, describing this as a conservative estimate supported by network expansion. However, in the latest May 2026 call, they revised this expectation significantly downward to a range of 6-7%, citing unexpected demand constraints in oil-linked commodities such as petrochemicals and plastics. Every quote above is taken word for word from the company’s own earnings calls. ## How much does VRL Logistics earn on its capital? VRL Logistics Ltd earned a ROCE of 18% in FY26. That is up from a low of 10% in FY21. Its return on capital used (ROIC) is 2.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 7.4% net margin and 1.24× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 7.4% net margin × 1.24× asset turnover × 2.28× leverage (assets divided by equity) ≈ 20.9% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 14.8% − 12.0% = +2.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 14.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does VRL Logistics have too much debt? VRL Logistics Ltd has total debt of ₹1,154 Cr against shareholder equity of ₹1,142 Cr as of Jun 2026, so its debt is 1.01× its equity. Year by year, that ratio went from 0.82 in FY22 to 1.01 in FY26. Keep that borrowing in mind when reading the returns on this page. Why this happened. This supports capacity spending, but does not prove that each new asset will earn its cost of capital. ## What is the VRL Logistics shareholding pattern? Domestic institutions cut their stake in VRL Logistics Ltd by 1.0 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 24.5% of the company. Foreign institutions moved −0.3 points over the same period, to 3.7%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −1.0 points over 8 quarters, to 24.5%; Foreign institutions: −0.3 points over 8 quarters, to 3.7%; Promoters: +0.0 points over 8 quarters, to 60.2%. Why the owners changed: domestic institutions drove it (−1.0 points). They reduced their stake. ## How far is VRL Logistics from balance-sheet trouble? For VRL Logistics Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does VRL Logistics rank in its industry? 75.0 out of 100, rank 1 of 8 in Logistics - Warehousing/Supply Chain, with 96% of the evidence available. VRL Logistics Ltd scores 75.0 out of 100 against the 8 companies it is compared with in Logistics - Warehousing/Supply Chain, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 19.3 + 20.4 + 19.5 + 15.8 = 75. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is VRL Logistics compared with? VRL Logistics ranks 1 of 8 Logistics - Warehousing/Supply Chain companies on the 4-Factor Sector Score, with 75.0 out of 100. 1. VRL Logistics Ltd this page VRLLOG · leader · Most evidence points up · 96% evidence 75.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 5.6% · Profit 22.4% · Operating margin change 1 points · 88% evidence Capital efficiency 20.4/25 · ROCE 18.3% · Operating margin 21% · 100% evidence Valuation 19.5/20 · P/E 17× · PEG 0.6 · 100% evidence Relative strength 15.8/20 · Lead over its industry 6.6% · Lead over NIFTY 500 3.3% · 1 year -7.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 19.3 + 20.4 + 19.5 + 15.8 = 75 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Navkar Corporation Ltd](https://www.sectoralpha.in/stocks/navkar-corporation-ltd) NAVKARCORP · quiet · Evidence leans up · 85% evidence 59.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.0/35 · Revenue 50.3% · Profit 100% · Operating margin change 0 points · 100% evidence Capital efficiency 11.1/25 · ROCE 3.1% · Operating margin 15% · 100% evidence Valuation 12.9/20 · P/E 23.7× · PEG 0.85 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -18.7% · 1 year -36.9% · 25% evidence · 0 of 12 weeks ahead Exact sum: 28 + 11.1 + 12.9 + 7.5 = 59.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Allcargo Logistics Ltd](https://www.sectoralpha.in/stocks/allcargo-logistics-ltd) ALLCARGO · breaking out · Evidence leans up · 64% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue 5.3% · Profit 87.5% · Operating margin change 3 points · 62% evidence Capital efficiency 10.7/25 · ROCE 4.8% · Operating margin 13% · 76% evidence Valuation 10.2/20 · P/E 30.2× · PEG n/a · 15% evidence Relative strength 13.9/20 · Lead over its industry 1.6% · Lead over NIFTY 500 -1.7% · 1 year -22.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21 + 10.7 + 10.2 + 13.9 = 55.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Mahindra Logistics Ltd](https://www.sectoralpha.in/stocks/mahindra-logistics-ltd) MAHLOG · turning · Evidence leans up · 67% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.0/35 · Revenue 20.3% · Profit 100% · Operating margin change 1 points · 71% evidence Capital efficiency 7.3/25 · ROCE 7.4% · Operating margin 6% · 76% evidence Valuation 9.8/20 · P/E 53.8× · PEG n/a · 15% evidence Relative strength 19.0/20 · Lead over its industry 20.1% · Lead over NIFTY 500 16.2% · 1 year 16.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 19 + 7.3 + 9.8 + 19 = 55.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [TCI Express Ltd](https://www.sectoralpha.in/stocks/tci-express-ltd) TCIEXP · quiet · Evidence leans down · 81% evidence 49.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 8.1/35 · Revenue 5.2% · Profit 0% · Operating margin change 0 points · 88% evidence Capital efficiency 14.2/25 · ROCE 13.8% · Operating margin 10% · 100% evidence Valuation 18.2/20 · P/E 22× · PEG 0.99 · 100% evidence Relative strength 9.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -6% · 1 year -29.1% · 25% evidence · 4 of 12 weeks ahead Exact sum: 8.1 + 14.2 + 18.2 + 9.4 = 49.9 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 6. [TVS Supply Chain Solutions Ltd](https://www.sectoralpha.in/stocks/tvs-supply-chain-solutions-ltd) TVSSCS · quiet · Evidence leans down · 64% evidence 42.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.3/35 · Revenue 16.9% · Profit 24.1% · Operating margin change 0 points · 88% evidence Capital efficiency 9.6/25 · ROCE 10.1% · Operating margin 7% · 100% evidence Valuation 9.4/20 · P/E 65.2× · PEG n/a · 15% evidence Relative strength 8.4/20 · Lead over its industry n/a · Lead over NIFTY 500 -7.5% · 1 year -18.9% · 25% evidence · 3 of 12 weeks ahead Exact sum: 15.3 + 9.6 + 9.4 + 8.4 = 42.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Delhivery Ltd](https://www.sectoralpha.in/stocks/delhivery-ltd) DELHIVERY · basing · Evidence leans down · 74% evidence 40.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.6/35 · Revenue 23.6% · Profit 33.1% · Operating margin change 4.3 points · 74% evidence Capital efficiency 4.8/25 · ROCE 1% · Operating margin 7% · 100% evidence Valuation 8.5/20 · P/E 138× · PEG n/a · 15% evidence Relative strength 3.0/20 · Lead over its industry -4.5% · Lead over NIFTY 500 -7.4% · 1 year -17.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 24.6 + 4.8 + 8.5 + 3 = 40.9 · What this means: Earnings are strong; relative strength in its sector is -4.5% and the one-year return is -17.2%. 8. [Snowman Logistics Ltd](https://www.sectoralpha.in/stocks/snowman-logistics-ltd) SNOWMAN · quiet · Evidence leans down · 74% evidence 40.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.0/35 · Revenue 6.8% · Profit 100% · Operating margin change 1.8 points · 74% evidence Capital efficiency 11.2/25 · ROCE 3.6% · Operating margin 14.7% · 100% evidence Valuation 8.9/20 · P/E 88.7× · PEG n/a · 15% evidence Relative strength 3.2/20 · Lead over its industry -6.9% · Lead over NIFTY 500 -9.8% · 1 year -35.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 17 + 11.2 + 8.9 + 3.2 = 40.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Logistics - Warehousing/Supply Chain](https://www.sectoralpha.in/sectors/logistics-warehousing-supply-chain), all 8 compared on one page. ## Which companies are close to VRL Logistics in size? VRL Logistics is the 3rd largest of 8 Logistics - Warehousing/Supply Chain companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Delhivery and TVS Supply Chain Solutions. Just below it: Mahindra Logistics, TCI Express, Allcargo Logistics and Navkar Corporation. ### Logistics - Warehousing/Supply Chain companies close in size

1. [Delhivery Ltd](https://www.sectoralpha.in/stocks/delhivery-ltd) ₹28,932 crore
2. [TVS Supply Chain Solutions Ltd](https://www.sectoralpha.in/stocks/tvs-supply-chain-solutions-ltd) ₹4,619 crore
3. VRL Logistics Ltd ₹4,547 crore
4. [Mahindra Logistics Ltd](https://www.sectoralpha.in/stocks/mahindra-logistics-ltd) ₹4,090 crore
5. [TCI Express Ltd](https://www.sectoralpha.in/stocks/tci-express-ltd) ₹1,849 crore
6. [Allcargo Logistics Ltd](https://www.sectoralpha.in/stocks/allcargo-logistics-ltd) ₹1,387 crore
7. [Navkar Corporation Ltd](https://www.sectoralpha.in/stocks/navkar-corporation-ltd) ₹1,124 crore

[All 8 Logistics - Warehousing/Supply Chain companies, largest first](https://www.sectoralpha.in/sectors/logistics-warehousing-supply-chain#all-companies)

### Companies close in size in other industries

1. [Quess Corp Ltd](https://www.sectoralpha.in/stocks/quess-corp-ltd) ₹4,571 crore · Facility Management
2. [Puravankara Ltd](https://www.sectoralpha.in/stocks/puravankara-ltd) ₹4,549 crore · Realty - Construction & Contracting
3. VRL Logistics Ltd ₹4,547 crore
4. [SG Finserve Ltd](https://www.sectoralpha.in/stocks/sg-finserve-ltd) ₹4,540 crore · Finance & Investments - MSME Lending
5. [Vikram Solar Ltd](https://www.sectoralpha.in/stocks/vikram-solar-ltd) ₹4,540 crore · Capital Goods - Solar

## What else do people ask about VRL Logistics? ### What is VRL Logistics's share price today? VRL Logistics Ltd's share price is ₹295.45, +5.6% over the past year. The whole company is worth ₹5,167 Cr on the market. In the last 52 weeks it traded between ₹230 to ₹298; today it is 97% of the way up from the low, 9.7% above its 200-day average (as of 3 November 2026). ### What were VRL Logistics's latest quarterly results? VRL Logistics Ltd reported revenue of ₹879 Cr and net profit of ₹81.0 Cr for the Jun 2026 quarter. Revenue rose 18.1% and profit rose 62.0% compared with a year earlier. Earnings per share were ₹4.60. The operating margin was 21.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is VRL Logistics's market cap? VRL Logistics Ltd's market capitalisation is ₹5,167 Cr at a share price of ₹295.45. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is VRL Logistics performing? VRL Logistics Ltd's share price has been rising for 10 weeks. In its latest quarter, revenue rose 18.1% and profit rose 62.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will VRL Logistics's share price go up? This page does not forecast VRL Logistics Ltd's share price. What it shows instead: the share price is ₹295.45, and it has been rising for 10 weeks. Its P/E of 19.3× is higher than 12% of its own last 11 years (as of 3 November 2026). ### Who owns VRL Logistics? Promoters own 60.2% of VRL Logistics Ltd, foreign institutions 3.7%, domestic institutions 24.5% and the public 11.6% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 1.0 percentage points over 8 quarters (as of 3 November 2026). ### Does VRL Logistics have too much debt? Yes, VRL Logistics Ltd has a lot of debt: its debt is 1.01× its equity, and its operating profit is 7 times its interest bill. FY26 borrowings were ₹1,154 Cr against equity of ₹1,143 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is VRL Logistics in its business cycle? VRL Logistics Ltd's FY26 operating margin was 20.0%, against a 13-year range of 12.0% to 20.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 21.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the VRL Logistics story? Biggest thing to watch: margins are the best this company has ever reported. Every ratio looks better at a record, so the story depends on margins staying high. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is VRL Logistics a stock worth studying right now? What the numbers show: VRL Logistics Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 12% of past readings. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a VRL Logistics share price forecast for 2026? What management itself guided: Tonnage growth around 8% in FY27, with 7-8% volume growth over the next 3-4 years. The changes showing up in VRL Logistics' own numbers are debt falling. It is too early to say whether they last. What would change the story: 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. ## Lists

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