VRL Logistics Limited, established in 1976 by Dr. Vijay Sankeshwar, has evolved into one of India’s premier logistics and transportation companies. Headquartered in Hubballi, Karnataka, the company offers a diverse range of services, including parcel and courier delivery, full truckload (FTL) transportation, passenger transport via one of the largest commercial vehicle fleets in India, warehousing solutions, and temperature-controlled logistics for perishable goods. VRL Logistics boasts an expansive network, spanning 24 states and 5 Union Territories, supported by over 4,500 branches and franchisees and a fleet of more than 5,000 vehicles, making it one of the largest fleet owners in the country. Since its public listing in 2015 on the NSE and BSE, VRL has garnered multiple awards for its excellence in logistics and transportation. With a strong commitment to customer satisfaction, operational efficiency, and sustainability, VRL Logistics continues to strive towards being a trusted and innovative leader in the logistics industry, delivering cost-effective and reliable solutions nationwide.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | |
| Promoters + | 60.24% | 60.24% | 60.24% | 60.24% | 60.24% |
| FIIs + | 2.51% | 3.26% | 3.83% | 3.94% | 3.65% |
| DIIs + | 28.13% | 26.57% | 25.64% | 25.47% | 25.57% |
| Public + | 9.11% | 9.93% | 10.28% | 10.34% | 10.55% |
| No. of Shareholders | 58,744 | 62,997 | 64,835 | 64,718 | 65,426 |
The shareholding pattern of VRL Logistics demonstrates a stable distribution of ownership across various categories over 2024. Promoters consistently maintained a controlling stake of 60.24% throughout the year, ensuring a robust influence over the company’s strategic direction. Foreign Institutional Investors (FIIs) exhibited an incremental interest in the company, increasing their stake from 2.51% in December 2023 to a peak of 3.94% in September 2024 before slightly decreasing to 3.65% by December 2024.
Domestic Institutional Investors (DIIs) held a substantial stake but displayed a gradual decline from 28.13% in December 2023 to 25.57% by the end of 2024. Public shareholding steadily grew over the year, starting at 9.11% in December 2023 and reaching 10.55% by December 2024, reflecting increasing interest among retail investors.
The number of shareholders also rose from 58,744 in December 2023 to 65,426 by December 2024, showcasing growing investor confidence in VRL Logistics and its operations. This evolving shareholding pattern highlights the company’s appeal across diverse investor categories.
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➤ Zerodha
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➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| February 2025 | 505.99 | 389.22 |
| March 2025 | 516.61 | 397.40 |
| April 2025 | 511.50 | 393.46 |
| May 2025 | 496.60 | 382.00 |
| June 2025 | 518.95 | 399.19 |
| July 2025 | 508.77 | 391.36 |
| August 2025 | 524.51 | 403.47 |
| September 2025 | 530.80 | 408.31 |
| October 2025 | 544.60 | 418.93 |
| November 2025 | 558.22 | 429.40 |
| December 2025 | 583.34 | 448.72 |
In 2025, VRL Logistics is expected to experience dynamic price movements. February may see prices between ₹389.22 and ₹505.99, while March could range from ₹397.40 to ₹516.61. By mid-year, June might reach ₹518.95 at its peak and ₹399.19 at its lowest. As the year progresses, October could witness prices spanning ₹418.93 to ₹544.60. Concluding the year, December is anticipated to touch a maximum of ₹583.34 and a minimum of ₹448.72, marking a year of significant growth potential for VRL Logistics.
| When | Maximum Price | Minimum Price |
| January 2026 | 600.84 | 462.18 |
| February 2026 | 585.82 | 450.63 |
| March 2026 | 597.53 | 459.64 |
| April 2026 | 609.73 | 469.02 |
| May 2026 | 603.69 | 464.38 |
| June 2026 | 618.78 | 475.99 |
| July 2026 | 606.65 | 466.65 |
| August 2026 | 625.41 | 481.09 |
| September 2026 | 637.92 | 490.71 |
| October 2026 | 654.51 | 503.47 |
| November 2026 | 670.87 | 516.05 |
| December 2026 | 687.64 | 528.96 |
As we move through 2026, VRL Logistics is expected to exhibit steady price growth. In January, prices may range from ₹462.18 to ₹600.84, while February could see values between ₹450.63 and ₹585.82. By mid-year, June might reach a maximum of ₹618.78 and a minimum of ₹475.99. As we progress, September could witness prices spanning ₹490.71 to ₹637.92. Finally, as we move into December, VRL Logistics is anticipated to achieve a high of ₹687.64 and a low of ₹528.96.
| When | Maximum Price | Minimum Price |
| January 2027 | 694.52 | 534.24 |
| February 2027 | 712.33 | 547.94 |
| March 2027 | 740.11 | 569.31 |
| April 2027 | 725.60 | 558.15 |
| May 2027 | 704.46 | 541.89 |
| June 2027 | 736.16 | 566.28 |
| July 2027 | 721.73 | 555.18 |
| August 2027 | 744.05 | 572.35 |
| September 2027 | 770.09 | 592.38 |
| October 2027 | 790.11 | 607.78 |
| November 2027 | 809.87 | 622.97 |
| December 2027 | 830.11 | 638.55 |
| When | Maximum Price | Minimum Price |
| January 2028 | 846.72 | 651.32 |
| February 2028 | 868.43 | 668.02 |
| March 2028 | 902.29 | 694.07 |
| April 2028 | 884.60 | 680.46 |
| May 2028 | 858.84 | 660.64 |
| June 2028 | 897.48 | 690.37 |
| July 2028 | 879.89 | 676.84 |
| August 2028 | 907.10 | 697.77 |
| September 2028 | 938.85 | 722.19 |
| October 2028 | 963.26 | 740.97 |
| November 2028 | 987.34 | 759.49 |
| December 2028 | 1,012.02 | 778.48 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,032.26 | 794.05 |
| February 2029 | 1,058.73 | 814.41 |
| March 2029 | 1,100.02 | 846.17 |
| April 2029 | 1,078.45 | 829.58 |
| May 2029 | 1,047.04 | 805.42 |
| June 2029 | 1,094.16 | 841.66 |
| July 2029 | 1,072.71 | 825.16 |
| August 2029 | 1,105.88 | 850.68 |
| September 2029 | 1,144.59 | 880.45 |
| October 2029 | 1,174.35 | 903.34 |
| November 2029 | 1,203.71 | 925.93 |
| December 2029 | 1,233.80 | 949.08 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,258.47 | 968.06 |
| February 2030 | 1,290.74 | 992.88 |
| March 2030 | 1,341.08 | 1,031.60 |
| April 2030 | 1,314.79 | 1,011.37 |
| May 2030 | 1,276.49 | 981.92 |
| June 2030 | 1,333.93 | 1,026.10 |
| July 2030 | 1,307.78 | 1,005.98 |
| August 2030 | 1,348.22 | 1,037.10 |
| September 2030 | 1,395.41 | 1,073.39 |
| October 2030 | 1,431.69 | 1,101.30 |
| November 2030 | 1,467.49 | 1,128.84 |
| December 2030 | 1,504.17 | 1,157.06 |
As we progress through 2030, VRL Logistics is expected to demonstrate significant growth. In January, the prices are projected to range from ₹968.06 to ₹1,258.47, while February may see values between ₹992.88 and ₹1,290.74. By mid-year, June might achieve a high of ₹1,333.93 and a low of ₹1,026.10. As we advance, September could record prices spanning ₹1,073.39 to ₹1,395.41. Finally, as we progress into December, VRL Logistics is anticipated to peak at ₹1,504.17, with a minimum of ₹1,157.06.
Financial Condition of VRL Logistics
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 2,119 | 1,763 | 2,164 | 2,649 | 2,889 | 3,032 |
| Expenses + | 1,815 | 1,515 | 1,788 | 2,245 | 2,494 | 2,612 |
| Operating Profit | 303 | 248 | 376 | 404 | 394 | 420 |
| OPM % | 14% | 14% | 17% | 15% | 14% | 14% |
| Other Income + | 6 | 13 | 21 | 171 | 21 | 23 |
| Interest | 37 | 37 | 44 | 56 | 79 | 88 |
| Depreciation | 168 | 160 | 144 | 159 | 216 | 240 |
| Profit before tax | 104 | 64 | 209 | 360 | 121 | 115 |
| Tax % | 14% | 29% | 23% | 10% | 26% | |
| Net Profit + | 90 | 45 | 160 | 323 | 89 | 84 |
| EPS in Rs | 9.97 | 5.1 | 18.12 | 36.58 | 10.16 | 9.66 |
| Dividend Payout % | 70% | 78% | 44% | 14% | 0% |
The financial performance of VRL Logistics has exhibited notable trends over recent years. From March 2020 to the trailing twelve months (TTM), sales have grown consistently, rising from ₹2,119 crore in March 2020 to ₹3,032 crore in the TTM period, reflecting robust operational growth. Despite this, expenses have also increased, from ₹1,815 crore in March 2020 to ₹2,612 crore in the TTM, maintaining the operating profit margin (OPM) around 14%, except for a peak of 17% in March 2022.
Operating profit improved from ₹303 crore in March 2020 to ₹420 crore in the TTM, showcasing the company’s efficiency. Other income saw a significant spike in March 2023, contributing ₹171 crore, but normalized thereafter. Interest expenses and depreciation have steadily risen, with interest increasing from ₹37 crore in March 2020 to ₹88 crore in the TTM.
Profit before tax demonstrated variability, peaking at ₹360 crore in March 2023 but declining to ₹115 crore in the TTM. Net profit followed a similar pattern, reaching ₹323 crore in March 2023 before tapering to ₹84 crore in the TTM. Earnings per share (EPS) mirrored this trend, hitting ₹36.58 in March 2023 and reducing to ₹9.66 in the TTM. Dividend payout percentages showed a decline, dropping from 70% in March 2020 to no payout in March 2024, reflecting a strategic reinvestment approach.
FAQS
As of February 2nd, 2025, the share price of VRL Logistics is around INR 468.
As per our analysis, VRL Logistics in 2025 is expected to trade between ₹382.00 to ₹583.34.
As per our analysis, VRL Logistics share price target for 2030 would be somewhere between ₹968.06 and ₹1,504.17.
You can invest in VRL Logistics shares through a stockbroker, either online or offline. You will need to open a Demat account and trading account to buy and sell shares. We recommend Groww and Paytm Money.
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Conclusion
In conclusion, VRL Logistics has demonstrated strong growth and stability in the logistics and transportation sector, with a well-established network and consistent sales expansion. Despite some fluctuations in profit margins due to rising costs, the company has maintained efficient operations and solid performance, as reflected in its financials. The shareholding pattern indicates confidence among promoters, increasing foreign and domestic institutional investments, and growing retail interest. With promising future share price projections for 2025 to 2030, VRL Logistics is poised for continued success, showcasing its potential for long-term growth and sustainability in the market.
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