VRL Logistics Limited has informed the Exchange about Investor Presentation
VRL LOGISTICS LTD
Corporate Ofliae : Giriraj Annexe Circuit House Road HUBBALLI - 580029 Karnataka State Phone : 0836 2237511 Fax . 0836 2256612 e-mail : headoffice@vrllogistics.com
TO,
8SC Limited Phiroze Jeeieebhoy Towers Dalal Street Mumbai-4(x)001
DearSir/Madam,
Sub: Submission of Earnings Presentation
Ref: S.rip Codes (BSE:539118, NSE: VRLLOG)
NationalStock Exchange of tndia Limited Exchange Plaza, Plot No.C/l, G-Btock, Bandra - l(urla Complex, Bandra (E), Mumbai-400 0S1
With respect to above captioned subject and in accordance with the extant provisions oI the SEBI (Listing Obligations and Oisclosure Requirements) Regulations 2015 and other applicable laws for time being in Iorce, we enclose herewith the Earnings presentafion of the Company which would also be hosted on the website of our Company.
We request you to kindlytake note ofthe same
Thankintyou,
Yours faitl*r\y
For VRL tOGISTICS
i
LIMITED
[r1
ut I
ANIRUDDHA PHADNAVIS COMPANY SECRETARY AND COMPI-IANCE OFFICER
Date:06.02.2021 Placer Hubballi
Corporate Offi<e i Giriraj Annexe Circuit House Road HUBBALLI - 580 029 Karnataka Phone : 0836 2237 51 1 Fax : 0836 2256612 e-mail : headoffi ce@vrllogistics.com CustomerCare : HUBBALLI aO 0836- 2307800 e-mail i (ustomer(are@vrllo9isti6..om
W€bsite
: www.vrllogisti(s.(om CIN : 16021 0KA 1 983P1C005247 GSTIN (KAR),29AABCV3609ClZJ
VRL Financial Results - Q3 2020-21
Earnings Presentation
February 6, 2021
1
• 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 therein.
•The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied is made as to 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 is not guarantee of future performance and involve risks and uncertainties 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 in light of its operating experience of recent years. Many factors could cause the actual results, performance or achievement of the Company to be materially different from any future results performance or achievement 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 and other statutes
• 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 content 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
A public listed company on NSE & BSE Exchange with a Market capitalization of INR 18.25 billion (as on 31st December, 2020).
A pre dominantly parcel delivery service provider (87% of total Revenue for FY20) with pan–India last mile connectivity operating through a fleet of 4649 owned Goods transport vehicles complemented by third party hired vehicles on need basis.
Integrated hub-and-spoke operating model which enables optimal aggregation of parcels from a diversified customer base across multiple industries and locations.
Diverse customer base of Corporate, SMEs and traders with exclusive focus on B2B services
Passenger transportation through 332 owned buses of various makes.
Extensive pan India network with presence in 866 locations, Ensuring last mile delivery even in remote locations.
State - of - the – art vehicle maintenance facilities with performance enhancing technological innovations.
Own fuel stations at key locations and tie up with IOCL
Dedicated In house software with own servers and real time data for analysis and MIS
3
Market Leader in LTL segment
Operations : 22 States,5 Union Territories,
671 Branches
150 Agencies
45 Strategically placed Hubs
Hub-and-Spoke model to aggregate small parcels and maximize capacity utilization of its vehicles
Efficient operations with largest fleet and a robust pan India network in 866 locations
4
Own Vehicle Numbers
As of
0.5 tons to 2.5 tons
2.5 tons to 7.5 tons
7.5 tons and above
Car Carrier (1)
Available Capacity (tons)
Tanker (2)
Cranes (3)
Total Vehicles Owned
BUSES
TOTAL FLEET
31-Mar-17
31-Mar-18
31-Mar-19
31-Mar-20
31-Dec-20
117
150
257
312
305
969
960
1009
981
956
2723
2765
3004
3428
3355
102
102
102
0
0
52099
52954
64776
70012
69003
17
17
13
20
20
13
13
13
13
13
3941
4007
4398
4754
4649
419
396
381
337
332
4360
4403
4779
5091
4981
Note: (1) Used for transportation of automobiles, converted to HGV’s from 2020. (2) Used for transportation of liquid (3) Cranes are predominantly used for internal operations.
Capacity Breakup as on December 31, 2020
25727
No of Vehicles
Capacity (tons)
% of total capacity
15193
14481
1113
560
881
5968
6088
550
1440
659
514
12
432
<5 tons
5 - 10 tons
10 - 15 tons
15 - 20 tons
20 - 25 tons
25 - 30 tons
>30 tons
1.61%
8.65%
8.82%
37.28%
22.02%
20.99%
0.63%
5
Goods transportation fleet
Significance of own vehicles
4649 owned vehicles as on
December 31, 2020
4335 (93%) debt free vehicles
Wide range of vehicles with carrying capacity from 1 ton to 36 tons
2564 (55%) of vehicles
are fully depreciated
and operating in
optimal condition
Bus Operations fleet
332 owned vehicles as on December 31, 2020
332 (100%) vehicles are debt free
Enables us to significantly control hiring
and operational costs
Higher payload per vehicle for LTL
consignments
Enables us to cover a large number of
routes and reduce dependence on third
party hired vehicles
Enables better control and time bound
delivery, thereby enhancing service
quality
Bus Operations: Owned vehicles enable
us to provide safe and on time travel
experience
Total of 4981 owned vehicles provides greater advantage in terms of pricing and service
6
1) The above Statement of Unaudited Financial Results for the quarter and nine months ended 31 December 2020 (Financial Results) have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 6 February 2021. These Financial Results have been subjected to a limited review by the Statutory Auditors of the Company. These Financial Results are prepared and published in accordance with Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended.
2) The Financial Results are prepared in accordance with the Indian Accounting Standards 34 ‘Interim Financial Reporting’ (Ind AS 34), as prescribed under Section 133 of the Companies Act, 2013, and the relevant Rules issued thereunder and other accounting principles generally accepted in India.
3) The Segment Information for the quarter and nine months ended 31 December 2020 form an integral part of the Financial Results.
4) The Board of Directors has approved a proposal to buy back a maximum of 2000000 equity shares of the Company having a face value of Rs.10 each, for an amount not exceeding Rs. 600000000 from the open market through Stock Exchange mechanism in accordance with the provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.
5) Due to COVID-19 pandemic and the consequent lockdown across the country, the Company’s operations and financial results for the nine month period have been impacted. The operations of the Company for the current quarter have improved and the business of the Company continued to operate at normal levels. The Company is taking all necessary steps to secure the health and safety of our employees and the extended eco-system. The Company will continue to monitor changes to the future economic conditions for any material impact as the situation evolves.
6) Previous period figures have been regrouped/restated wherever considered necessary to conform to the current period classification.
7
ensures Rising
Margins and
offsets the
Total Income(Rs)
55964
Proactive steps
50026
56855
44181
29% QoQ Growth
16240
Q3 2019-20
Q4 2019-20
Q1 2020-21
Q2 2020-21
Q3 2020-21
Total Income
EBITDA (Rs )
setback caused
8206
5907
10392
8947
16% QoQ Growth
due to the
panademic
Q3 2019-20
Q4 2019-20
Q1 2020-21
Q2 2020-21
Q3 2020-21
EBITDA
(3155)
8
Consolidated (INR in Lakhs)
TOTAL INCOME
EBITDA
EBITDA Margins(%)
EBIT
EBIT Margins(%)
PBT
PBT Margins(%)
PAT (excludes comprehensive income)
PAT Margins(%)
Q3 FY21 (Unaudited)
Q2 FY21 (Unaudited)
Q3 FY20 (Unaudited)
9M-FY21 (Unaudited)
9M-FY20 (Unaudited)
FY20 (Audited)
56855.46
44180.76
55964.13
117276.60
162859.33
212885.65
10392.47
8946.91
8205.99
16184.22
24951.55
30858.48
18.28%
20.25%
14.66%
13.80%
15.32%
14.50%
6285.65
5066.46
4125.36
4009.17
12726.84
14105.05
11.06%
11.47%
7.37%
3.42%
7.81%
6.63%
5453.47
4170.21
3261.35
1242.91
10104.21
10431.68
9.59%
9.44%
5.83%
1.06%
6.20%
4.90%
3973.77
3088.07
2579.78
790.35
8797.59
9011.49
6.99%
6.99%
4.61%
0.67%
5.40%
4.23%
9
(INR in lakhs)
Goods Transport
Particulars
Revenue
EBITDA
EBITDA Margin(%)
EBIT
EBIT Margin(%)
(INR in lakhs)
Particulars
Revenue
EBITDA
EBITDA Margin(%)
EBIT
EBIT Margin(%)
Quarter ended
Nine Months ended
Year ended
31.12.2020 (Unaudited)
30.09.2020 (Unaudited)
31.12.2019 (Unaudited)
31.12.2020 (Unaudited)
31.12.2019 (Unaudited)
31.03.2020 (Audited)
50100.82
40771.41
45263.93
105696.82
130805.31
172469.20
9754.42
7972.08
6077.01
14719.98
18215.06
23006.01
19.47%
19.55%
13.43%
13.93%
13.93%
13.34%
6546.39
13.07%
5115.17
12.55%
3202.49
7.08%
5544.35
5.25%
9698.99
7.41%
11115.93
6.45%
Bus Operations
Quarter ended
Nine Months ended
Year ended
31.12.2020 (Unaudited)
30.09.2020 (Unaudited)
31.12.2019 (Unaudited)
31.12.2020 (Unaudited)
31.12.2019 (Unaudited)
31.03.2020 (Audited)
5211.53
472.87
1678.17
(122.81)
9466.27
1696.20
7419.13
(259.96)
27312.82
34371.06
4214.30
4863.98
9.07%
(7.32%)
17.92%
(3.50%)
15.43%
14.15%
167.78
3.22%
(574.46)
(34.23%)
1076.01
11.37%
(1521.91)
(20.51%)
2251.83
8.24%
2331.57
6.78%
10
(INR in lakhs)
Sale of Power
Particulars
Revenue
EBITDA
EBITDA Margin(%)
EBIT
EBIT Margin(%)
(INR in lakhs)
Particulars
Revenue
EBITDA
EBITDA Margin(%)
EBIT
EBIT Margin(%)
Quarter ended
Nine Months ended
Year ended
31.12.2020 (Unaudited)
30.09.2020 (Unaudited)
31.12.2019 (Unaudited)
31.12.2020 (Unaudited)
31.12.2019 (Unaudited)
31.03.2020 (Audited)
313.26
147.86
755.87
642.36
226.46
68.40
1548.3
1108.07
1668.51
1197.82
1864.74
1239.56
47.20%
84.98%
30.20%
71.57%
71.79%
66.47%
(115.29)
(36.80%)
372.81
49.32%
(199.69)
(88.18%)
305.83
19.75%
381.44
22.86%
153.76
8.25%
Transport of Passengers by Air
Quarter ended
Nine Months ended
Year ended
31.12.2020 (Unaudited)
30.09.2020 (Unaudited)
31.12.2019 (Unaudited)
31.12.2020 (Unaudited)
31.12.2019 (Unaudited)
31.03.2020 (Audited)
403.56
(260.74)
377.23
96.89
523.24
24.86
888.36
(265.42)
1556.73
330.61
1982.34
320.18
(64.61%)
25.68%
4.75%
(29.88%)
21.24%
16.15%
(317.7)
(78.72%)
56.15
14.88%
(26.6)
(411.95)
(5.08%)
(46.37%)
189.21
12.15%
138.12
6.97%
11
Procurement of Bio-fuel @ 32.79% of Q1FY21, 53.18% in Q2FY21, 17.34% in Q3FY21).
total quantity in 9MFY21 ( 31.03% in
No new Vehicles added during Q3FY21.
The ICRA Debt Rating is maintained A+ (stable).
9MFY21 PAT turns positive driven by Q3FY21 performance, successful caused by the pandemic.
thereby indicating implementation of business strategies while responding to new challenges
The Board of Directors has approved a proposal to buy back a maximum of 2000000 equity shares of the Company having a face value of Rs.10 each, for an amount not exceeding Rs. 600000000 from the open market through Stock Exchange mechanism in the Companies Act, 2013 and the Securities and accordance with the provisions of Exchange Board of India (Buy-Back of Securities) Regulations, 2018.
Net debt reduced from Rs11456.34 lakhs as on Sep 30, 2020 to Rs 6420.19 lakhs as on Dec 31, 2020.
12
Net Debt to Equity
Gearing Ratio
17396
6278
12880
17706
6420
0.3
0.1
0.2
0.3
0.1
32.28%
24.32%
16.62%
22.30%
9.57%
FY17
FY18
FY19
FY20
Q3 FY21
FY16
FY17
FY18
FY19
FY20
Net debt/Equity(x)
Net debt position (Lakhs)
Note : Debt for the above purpose includes non-current borrowings, current borrowings and current maturities of non current borrowings and Interest accrued but not due on borrowings.
Return metrics
Leverage metrics
21.7
23.2
Return (Profit for the year+Finance costs) on Average capital employed Return(Profit for the year) on average equity
8.9
9.5
Net debt/Ebitda(x)
24%
20%
8.4
13%
13%
15%
16%
15%
14%
16%
14%
1.0
0.8
0.3
0.5
0.6
FY 16
FY 17
FY 18
FY 19
FY 20
Ebitda/finance cost(x)
FY 16
FY 17
FY 18
FY 19
FY 20
13
NBFC( RBI Registered), 0.02%
Public, 7.68%
Others, 1.37%
Foreign Portfolio Investors, 2.74%
Mutual Funds, 20.14%
Promoters, 68.05%
14
For further discussions/queries please contact :
Sunil Nalavadi Chief Financial Officer +91 93425 59298
cfo@vrllogistics.com