VRL Logistics Ltd. share price target

Monthly Chartbook: India's recovery gaining ground. Weekly Wrap: India's fiscal impulse drive yields higher. VRLL: Earnings momentum gathering pace

Registered Office:Rukmini Towers, 3rd& 4th Floor, # 3/1, Platform Road, Sheshadripuram, Bangalore - 560 020,...

VRL Logistics' (VRLL) Q2FY21 print beat our estimates on all fronts.

Registered Office:Rukmini Towers, 3rd& 4th Floor, # 3/1, Platform Road, Sheshadripuram, Bangalore - 560 020,...

Weekly Wrap: Global yields rise as recovery continues. VRLL: Insipid Q1 but steady recovery bodes well. MTLM: Q1 revenues slump; outlook improving

VRL Logistics (VRLL) reported a weak topline in Q1FY21, as the lockdowns and other headwinds put pressure on both goods and bus segments. Improvement seen in July on operational front. Management highlighted the following: (1) Targets nominal profit in FY21E, PAT positive in July (2) No major capex for FY21 (3) Price hikes taken to offset volume fall. (3) Focus on client addition (4) Cost control measures taken like pay cuts (5) Improvement in availability of workers and drivers (6) Asked for rent waiver for April month (7)...

Lockdown-induced disruptions catalysed a steep 70% YoY decline in VRL Logistics' (VRLL) Q1FY21 topline to Rs 1.6bn.

VRL Logistics reported the muted revenue growth for FY20 as the difficult macroeconomic conditions put pressure on both Goods Transport (~81% of revenue) and Bus Segment (~16% of revenue). Both the segments were hit badly by COVID-19. The asset ownership model operated by the company along with ~20,000 employee base and fluctuation in diesel cost attracts has affected monthly fixed costs which is expected to put huge pressure on margin and expect to incur the losses in FY21. Recovery is...

VRL Logistics' (VRLL) Q4FY20 print was weak.

We initiate coverage on VRL Logistics (VRLL) with BUY and a Mar'21 TP of Rs 330, set at 22x FY22E P/E.