VRL LOGISTICS LTD

Slnce 1976

Regd. & Admn. Offi(e :

Eengaluru Road Varur
HUBBALLI - 5A1 2O7 Karnataka State
Phone i 63661 '19394
Fax : 0A36 2237614
e-mail : varurho@vrllogistics.com

TO,

BSE Limited NationalStock Exchange of tndia Limited

Phiroze Jeeieebhoy Towers Exchange Plaza, Plot No.C/1, c-Block,
Dalal Street Bandra - Kurla Complex, Bandra (E),
Mumbai- 400 001 Mumbai-400051
Scrip Code:539118 Scrip Code: VRLLOG

Dear Sir / Madam,

Sub: Submission of Earnings Presentation

With respect to above captioned subject and in accordance with the extant provisions of the SEBI
(Listing Obligations and Disclosure Requirements) Regutations 2015 and other applicable laws for
time
being in force, we enclose herewith the Earnin8s presentation of the Company which would also be
hosted on the website ofour Company.

We request you to kindlytake note ofthe same

Thankingyou,

ForVRl- TIMITED

AN'RUDDHA PHADNAVIS
COMPANY SECRETARY AND COMPI.IANCE OFFICER

Date: 10.08.2022
Place: Hubballi

Corporate Offi(e i Giriraj Annexe Circuit House Road HUBBALLI - 5gO O29 Karnataka
Phone: 0836 2237511 Fax . 0836 2256612 e-mail : headoffice@vrllogistics.com
Customcr Care : HUBBALLI rA 0836 - 2307800 €-mail i <ustomercare@vrllogistics..om
Website : www.vrllogistics.(om CIN : 160210KA1983pLC005247 GSTTN (KAR)r 29AA BCV36O9C.I ZJ
 ( Since - 1976 )

Q1 FY2022-23
Earnings presentation

1
 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 differ materially from those expressed or implied herein.

• The information contained in this presentation has not been independently verified and no representation or warranty expressed or
implied is made, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions
contained herein.

• This presentation may contain certain forward looking statements within the meaning of applicable securities law and regulations. These
statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with
respect to the results of operations and financial condition of the Company. Such forward-looking statements are not a guarantee of
future performance and actual results may differ from those in such forward-looking statements as a result of various factors and
assumptions which the Company presently believes to be reasonable. Many factors could cause the actual results, to be materially
different and significant factors that could make a difference to the Company’s operations include domestic and international economic
conditions, changes in government regulations, tax regime, etc

• None of VRL Logistics Ltd. or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or
otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this
document.

• This document does not constitute an offer or invitation to purchase or subscribe for any shares and neither it nor any part of it shall
form the basis of or be relied upon in connection with any contract or commitment whatsoever.

2
 VRL – MARKET LEADER IN B2B PARCEL SEGMENT

Only “Owned Asset” organised player in Less than 5036 OWNED GOODS TRANSPORT
Truck load logistics business in India VEHICLES

HIRED VEHICLES ENGAGED ON NEED

Pan-India surface logistics services provider with an BASIS
established brand having one of the largest distribution
networks in India
1023 GOODS TRANSPORT BRANCHES

Integrated hub-and-spoke operating model ensuring

efficient consignment distribution 47 MASSIVE TRANSHIPMENT HUBS

Dedicated in-house maintenance facilities, inventory of

7 LAKH + CUSTOMER BASE
spare parts and In-house software & technology
capabilities
20000+ WORKFORCE
Apt asset owned model leads to higher operating
margins, higher cash flows & return metrics than asset 297 OWNED PASSENGER TRANSPORT
light model VEHICLES
3
 FINANCIAL PERFORMANCE
KEY HIGHLIGHTS
Q1FY23 records the highest ever Quarterly
Revenue @ turnover
Rs.72008 lakhs
Revenue grows 73% YoY and 7% QoQ

EBITDA increased by 197% YoY & (11%) QoQ

EBITDA @ Margins @ 16%
Rs.11738 lakhs PAT increased by 917% YoY and (12%) QoQ

Cash flow generated from operating

activities is Rs.11057 lakhs.

PAT @ Margins @ 7%
Rs.4937 lakhs Cash flow from operations to EBITDA is a
healthy @ 94%
4
 CONSOLIDATED FINANCIALS
Consolidated
Q1 YoY Q4 QoQ YoY
(INR in Lakhs)
FY23 FY22 Growth (%) FY22 Growth (%) FY22 FY21 Growth (%)
Income from
71711 41377 73% 66513 8% 239365 176292 36%
operations
Other Income 296 351 662 1681 1286
Total Income 72008 41728 73% 67175 7% 241047 177579 36%
EBITDA 11738 3957 197% 13241 (11%) 42098 26035 62%
MARGINS (%) 16% 9% 20% 17% 15%
EBIT 7837 188 4063% 8609 (9%) 25298 10056 152%
MARGINS (%) 11% 0.5% 13% 11% 6%
PBT 6606 (762) 967% 7409 (11%) 20989 6374 229%
MARGINS (%) 9% (2%) 11% 9% 4%
PAT (exclusive of
other comprehensive 4937 (604) 917% 5619 (12%) 16011 4507 255%
income)
MARGINS (%) 7% (1%) 8% 7% 3% 5
 GOODS TRANSPORT
Q1 YoY Q4 QoQ YoY
Q1FY23 records the highest ever
Growth
FY23 FY22 Growth (%) FY22 Growth (%) FY22 FY21 revenue @ Rs.60887 lakhs,
(%)
Revenue 60887 38483 58% 58762 4% 213738 159275 34%

EBITDA 9975 4306 132% 12182 (18%) 40263 26641 51% Q1FY23 Revenue up by 58% YOY,
and 4% QoQ
Margin (%) 16% 11% 21% 19% 17%

EBIT 6953 1446 381% 8406 (17%) 27053 14726 84% Q1FY23 EBITDA @ 9975 lakhs ,
Margin (%) 11% 4% 14% 13% 9%
and Margins @16%
Note: All amount in lakhs

Revenue
56882 59612 58762 60887 Strategic planning, Addition of
EBITDA
38483 new branches, Capex plans
helps in increasing revenue to
10979 12798 12182 9975
4306 an all time high

Q1FY22 Q2FY22 Q3FY22 Q4 FY22 Q1 FY23 6

 GT PERFORMANCE

Revenue Analysis

GT revenue increased by 58% YoY and 4% QoQ

• Volumes up by 45% YoY and 1% QoQ

• 68 new branches added in Q1FY23 and 91 branches added in FY22

• Branches added in Q1FY23 & FY 2021-22 contributed ~8% of total tonnage in Q1FY23

• Addition of new clients due to Geographical expansion

• Also witnessed the shift of Clientele base from unorganized sectors as a result of increase in
compliance requirements under GST

7
 GT PERFORMANCE

Y-o-Y Profitability Analysis

• Economic revival during Q1FY23 as against pandemic affected Q1FY22 resulting into revenue growth and
profitable operations
• Useful life of the Goods transport vehicles revised from 8.84 years to 15 years resulting into lower
deprecation charges of Rs.931.07 lakhs in Q1FY23
Q-o-Q
• Company was forced to procure fuel from Retail outlets as there was an increase in rates for bulk
purchase of Diesel from refineries resulting in higher diesel costs
• Retail procurement increases from 53.83% in Q3FY22 to 74.12% in Q4FY22 to 99.25% in Q1FY23
• Decrease in Excise duty for procurement of fuel from retail outlets helped the company to curtail margin
decline
• Diesel costs as a percentage of revenue increased by 2.09% from 29.02% to 31.11%
• Lorry Hire expenses as a percent of Revenue increased 1.95% from 7.42% to 9.37% on account of
increased vehicle hiring costs driven by increase in fuel rates and kms run by hired vehicles.
• Decrease in Vehicle Running, Repairs & Maintenance by 0.90% from 7.01% to 6.11% on account of new
vehicles being added
• No major changes in other fixed and variable costs
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 BUS OPERATIONS
Q1 YoY Q4 QoQ YoY Improved performance on account of
Growth Growth overall increase in Number of passengers
FY23 FY22 FY22 Growth (%) FY22 FY21 travelled , Average seat occupation &
(%) (%)
Number of trips due to holiday season
Revenue 9787 1757 457% 6217 57% 20484 13034 57%

Q1FY23 Revenue @ 9787 lakhs, up by

EBITDA 1997 (388) 615% 392 409% 1135 (592) 292%
457% YoY and 57% QoQ
Margin (%) 20% (22%) 6% 6% (5%)

Q1FY23 EBITDA @ 1997 lakhs and

EBIT 1703 (715) 338% 93 1732% (136) (2335) 94% Margins @ 20%
Margin (%) 17% (41%) 1% (1%) (18%)
Note: All amount in lakhs
Number of buses increases from 295 to
9787
297- QoQ
Revenue
7483
EBITDA 6217
5027 Number of buses increases from 291 to
297 - YoY
1757 1997
1108
33 392
-383
Increase in realisation per passenger by
Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 27% QoQ & 18% YoY
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 SALE OF POWER
Q1 YoY Q4 QoQ YoY Q1FY23 Revenue @ 491 lakhs,
down by 11% YoY and 46% QoQ
FY23 FY22 Growth (%) FY22 Growth (%) FY22 FY21 Growth (%)

Revenue 491 554 (11%) 903 (46%) 2526 1757 44%

Q1FY23 EBITDA @ 319 lakhs,
down by 18% YoY and 55% QoQ,
EBITDA 319 389 (18%) 707 (55%) 1827 1159 58%
Margins @ 65%
Margin (%) 65% 70% 78% 72% 66%

EBIT Note: All amount in lakhs

50 119 (58%) 441 (89%) 749 81 826% The Company has accounted one
time CER income of Rs 691.49
Margin (%) 10% 21% 49% 30% 5% lakhs in Q4FY22

As informed, The company has sold this project with cut off date as 31.07.2022 and received
full consideration of Rs.48 crores on 03.08.2022. Final Documentation is in process

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 INFRASTRUCTURE
28177
No of GT Vehicles
Capacity (tons)

15096 14991

7410
6343

1184 917 685 1586 655

611 534 12 432

<5 tons 5 - 10 tons 10 - 15 tons 15 - 20 tons 20 - 25 tons 25 - 30 tons >30 tons

1.61% 8.61% 10.06% 38.27% 20.50% 20.36% 0.59%

Percent of total capacity Note: List of vehicles excludes Cranes and Tankers

VRL has 1178 vehicles > 15 years, as of June 30, 2022 with a total capacity of 12026 tons, whereas VRL added
16934 tons capacity from 2019 onwards. Further 1200+ higher capacity vehicles (~13000 tons) being added.
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 Goods Transportation Operational Network

• Market Leader In LTL Segment

• Operations: 23 States and 4 Union Territories
• 1023 Branches
• 47 Strategically Placed Hubs

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 Wide range of sectors served
Sports
Items
Educational Expertise In Handling Variety Of
Goods
Machinery Commodities
Agriculture
FMCG products Textile
Diversified B2B Customer Base Across
Wide Range Of Industries
Electrical
Leather
Pharma
Products
No single customer contributing over
Garments ~1% of Total Revenue

Food
Contribution from Top 10 customers
Hardware
Products Automotive Metal account for ~3% of total Goods
parts transportation business

Transit Storage facility available in all our

Delivery branches

Lowest bad debts and Hassle Free Claim

Settlement 13
 KEY DEVELOPMENTS

Addition of 68 new branches in Q1FY23 as against 91 branches in FY2021-22. Total number of branches as on
30.06.2022 is 1023. Planning to expand network by opening new branches in untapped market

Expansion of existing branch area and increasing branch density in key markets like Pune, Ahmedabad,
Raipur, Salem, Chennai, Kanpur, Delhi etc.

Number of GT Vehicles increased from 4816 vehicles in Q4FY22 to 5036 vehicles in Q1FY23. New GT vehicles
added in Q1FY23- 312 vehicles, Sold/scrapped – 92 vehicles, Net vehicle addition is 220 vehicles

Significant progress on Sale of Wind Power division – Receipt of full sale consideration

Capex of Rs.8547.26 lakhs incurred during Q1FY23 out of which Rs.7871.23 lakhs was towards Goods
Transport Segment

Net debt increased from Rs.12989.88 lakhs as on March 31, 2022 to Rs.15463.62 as on June 30 2022

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Continued focus on higher Focus on increasing Geographic
margin LTL segment presence in hitherto untapped
markets

Priority to Volume Growth- Wait

and Watch approach on Freight
Hike

Well positioned to conclude

planned fleet addition
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For Further discussions or Queries, Please contact

Sunil Nalavadi
Chief Financial Officer
+91 93425 59298
cfo@vrllogistics.com

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