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VRL Logistics (VRLLOG) investor relations material
VRL Logistics Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 FY26 total income was INR 831 crore, flat year-on-year and up 3% sequentially, driven by improved realizations, new client additions, and return of lost accounts.
Profit after tax for Q3 was INR 65 crore, up 9% year-on-year and 30% sequentially, aided by lower interest costs.
EBITDA margin for Q3 FY26 improved to 20.9%, up 20 bps year-on-year, supported by higher realization and cost control.
Interim dividend of INR 5 per share was approved.
Unaudited financial results for the quarter and nine months ended 31 December 2025 were approved, with independent auditor review confirming no material misstatements.
Financial highlights
Q3 FY26 EBITDA at INR 174 crore, up 1% year-on-year; 9M FY26 EBITDA at INR 490 crore, up 20% year-on-year.
Realization per ton increased 10% year-on-year in Q3 FY26; tonnage declined 9% year-on-year due to exit from low-margin business.
Net debt reduced to INR 272 crore as of December 2025, down from INR 304 crore in September 2025 and INR 470 crore a year earlier.
Fuel cost as a percentage of income fell to 24.8% in Q3 and ~25% in 9M FY26 from higher levels a year earlier.
Revenue from operations for the quarter ended 31 December 2025 was INR 82,696.23 lakhs, nearly flat year-over-year.
Outlook and guidance
Expecting 3-4% sequential tonnage growth in Q4 and 10-11% tonnage and revenue growth in FY27, targeting revenue of INR 3,600 crore and EBITDA of INR 730-740 crore.
Realization per ton to remain stable at current levels; no further price hikes planned unless cost structure changes.
CapEx for FY27 projected at INR 350 crore, including INR 160-170 crore for 500 new vehicles and similar amount for land/building purchases.
Focus on intensified marketing and strategic expansion in untapped geographies to drive volume growth.
No incremental financial impact expected from the new Labour Codes as per current assessment; company will monitor for future regulatory changes.
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