VRL Logistics Limited has informed the Exchange about Investor Presentation

Corporate Office : Giriraj Annexe Circuit House Road HUBBALLI - 580 029 Karnataka State Phone : 0836 2237511 Fax : 0836 2256612 e-mail : headoffice@vrllogistics.com

To,

BSE Limited Phiroze Jeejeebhoy Towe6 Dalal Street Mumbai- 400 001 Scrip Codes : 539118

Dear 5ir / Madam,

sub: Submission of Earnings Presentation

National Stock Exchange of lndia Limited Exchange Plaza, Plot No.C/l, G-Block, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051 Scrip Codes : VRLLOG

With respect to above captioned subject and in accordance with the extant provislons of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 and other applicable laws for time beingln force, we enclose herewith the Earnings Presentation ofthe Company which would also be hosted on the website of our Company.

we request you to kindly take note of the same

Thanking you,

Yours fait

\

For vRL LqGdrlcS LIMITED

fll

uqf,..

1-Li.

ANIRUDDHA PHADNAVIS COMPANY SECRETARY AND COMPLIANCE OFFICER

Date:01.11.2021 Place: Hubballi

Regd. & Admn. offlce : Bengaluru Road Varur HUBBALLT - 5A1 2O7 Karnataka state Phone :0836 2237613 Fax :0836 2237614 e-mail : varurho@vrllogistics'com Customer Care : HUBBALLI @ 0835 - 23O78OO e-mall : customercare@Yrllogistics.com Website : www.vrllogistics.com CIN : 160210KA1983P1C005247 GSTTN (KAR): 29AABCV36O9C1A

VRL Financial Results - Q2 FY2021-22

Earnings Presentation

November 01, 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 33.76 billion(as on 30th September, 2021)

Pre dominantly parcel delivery service provider (~90% of total Revenue for FY21) with pan–India last mile connectivity operating through a fleet of 4687 owned Goods transport vehicles complemented by third party hired vehicles on need basis

Integrated hub-and-spoke operating model which enables proper aggregation of across multiple industries and parcels locations

from a diversified customer base

Diverse customer base of Corporate, SMEs and traders with focus on B2B services

Passenger transportation through 280 owned buses of various makes

Extensive pan India network with presence across 22 states & 4 union territories in 902 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

India – 73% Goods transported by road

 Long Term Sustainability

Key Differentiators

 VRL

 Only “Owned Asset” organised player in LTL business in India

 Operating model

 Integrated hub-and-spoke operating model ensuring

efficient consignment distribution

 VRL owns 4687 GT vehicles

 Distribution Network



Efficient operations with largest fleet and minimal outsourcing of transportation

 Robust pan India network across 22 states, 4 union

territories, having 902 branches, including 45 massive transhipment hub facilities

 Vehicles Specially Designed by

OEM`s / in-house

 Ensures Higher Payload

 Owned Vehicle operations and maintenance

 Entry Barrier

4

Key Differentiators

 More than 52% vehicles Fully Depreciated

 More than 91% vehicles Debt Free

 Financial performance & position

 EBITDA Margins

 Cash Profits/Cash EPS

 Minimal Outsourcing of transport

 Bulk procurement policy

 Addition of Electric vehicles

















Lower Costs

No Associated finance costs

Track record of growth and robust financial position

@18.03% (Q2FY22) – Highest in the industry

High cash profit margins & Cash EPS

No Additional Margin to be Paid to Outside Vehicle Service Provider

Economies of scale

Moving toward new age vehicles

5

 Most efficient collection mechanism

Annual bad debt less than Rs.5 lakh on ~Rs.2,000 Cr. Revenue.

• • Hardly any collectible more than 90 days.

 Procurement of diesel directly from Refineries by establishing own fuel pumps in key locations.

 Wide range of Customers

• Not dependent on any single customer or any single product.

 Own workshop, Own fittings, Own Body Building, Own Design

•

Lowest cost Operator.

 Double digit business volume growth.

 Much lower Debt Level – INR 154 Crs.

•

Least cash burnout for servicing and repayment.

 Gradual margin growth in core GT segment, driven by freight volume.

 PROACTIVELY preparing for Scrapping policy

•

VRL has 1137 vehicles > 15 years, as of September 30, 2021 with a total capacity of 11088 tons, whereas VRL added 10550 tons capacity from 2019 onwards.

6

Market Leader in LTL segment

Operations : 22 States,4 Union Territories.

715 Branches

142 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 902 locations

7

Own Vehicle Numbers

0.5 tons to 2.5 tons (a)

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

150

257

312

311

361

960

1009

981

942

942

2765

102

52954

3004

102

64776

3428

3289

3349

0

0

0

70012

68107

69011

17

13

20

20

22

13

13

13

13

13

4007

396

4403

4398

4754

4575

4687

381

337

291

280

4779

5091

4866

4967

As of

31-Mar-18

31-Mar-19

31-Mar-20

31-Mar-21

30-Sep21

Note: (a) – this category consists of electric vehicles. (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 Sep 30, 2021

25618

15170

14741

1178

610

896

6133

5739

517

1435

658

524

12

432

<5 tons

5 - 10 tons

10 - 15 tons

15 - 20 tons

20 - 25 tons

25 - 30 tons

>30 tons

1.71%

8.89%

8.32%

37.12%

21.98%

21.36%

0.62%

8

No of Vehicles

Capacity (tons)

% of total capacity

Goods transportation fleet

Significance of own vehicles

4687 owned vehicles as on

September 30, 2021

4253 (91%) debt free vehicles

Wide range of vehicles with carrying capacity from 1 ton to 36 tons

2460 (52%) of vehicles

are fully depreciated

and operating in

optimal condition

Bus Operations fleet

280 owned vehicles as on September 30, 2021

280 (100%) vehicles are debt free

 Enables us to significantly control

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 4967 owned vehicles provides greater advantage in terms of pricing and service

9

1) The above Statement of Unaudited Financial Results ("Financial Results") for the quarter and half year ended 30 September 2021 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 1 November 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 Obligations & Disclosure Requirements) Regulations, 2015, as amended.

2) These Financial Results are prepared in accordance with the Indian Accounting Standard 34 'Interim Financial Reporting' (Ind AS) 34, as prescribed under Section 133 of the Companies Act, 2013, ("the Act") read with the relevant Rules issued thereunder and other accounting principles generally accepted in India.

3) The Unaudited Statement of Cash Flows has been prepared under the indirect method as set out in

Ind AS 7 - Statement of Cash Flows.

4) The Unaudited Statement of Assets and Liabilities as at 30 September 2021, Unaudited Statement of Cash Flows for half year ended 30 September 2021 and Segment Information for the quarter and half year ended 30 September 2021, form an integral part of the financial results.

5) Previous period figures have been regrouped / restated wherever considered necessary to conform to the current

period classification.

10

Consolidated (INR in Lakhs)

TOTAL INCOME

EBITDA

EBITDA Margins(%)

EBIT

EBIT Margins(%)

PBT

PBT Margins(%)

PAT (excludes comprehensive income)

PAT Margins(%)

Q2 FY22 (Unaudited)

Q1 FY22 (Unaudited)

Q2 FY21 (Unaudited)

H1 FY22 (Unaudited)

H1 FY21 (Unaudited)

FY21 (Audited)

63813.76

41728.10

44180.76

105541.86

60421.14

177578.73

11506.06

3956.57

8946.91

15462.63

5791.75

26035.04

18.03%

9.48%

20.25%

14.65%

9.59%

14.66%

7549.49

188.28

5066.46

7737.77

(2276.48)

10056.03

11.83%

0.45%

11.47%

7.33%

(3.77%)

5.66%

6568.45

(761.83)

4170.21

5806.62

(4210.56)

6374.07

10.29%

(1.83%)

9.44%

5.50%

(6.97%)

3.59%

4947.80

(604.18)

3088.07

4343.62

(3183.42)

4506.79

7.75%

(1.45%)

6.99%

4.12%

(5.27%)

2.54%

11

(INR in lakhs)

Goods Transport

Particulars

Revenue

Quarter ended

Half Year ended

Year ended

30.09.2021 (Unaudited)

30.06.2021 (Unaudited)

30.09.2020 (Unaudited)

30.09.2021 (Unaudited)

30.09.2020 (Unaudited)

31.03.2021 (Audited)

56881.55

38482.59

40771.41

95364.14

55596.00

159275.00

EBITDA - After Ind As 116

10978.64

4306.25

8441.58

15284.89

5971.16

26643.13

EBITDA Margin(%)

EBIT- After Ind AS 116

EBIT Margin(%)

19.30%

11.19%

20.70%

16.03%

10.74%

16.73%

7928.89

1446.95

5584.67

9375.84

3.55

14727.88

13.94%

3.76%

13.70%

9.83%

0.01%

9.25%

(INR in lakhs)

Bus Operations

Particulars

Revenue

Quarter ended

Half Year ended

Year ended

30.09.2021 (Unaudited)

30.06.2021 (Unaudited)

30.09.2020 (Unaudited)

30.09.2021 (Unaudited)

30.09.2020 (Unaudited)

31.03.2021 (Audited)

5026.65

1756.83

1678.17

6783.48

2207.6

13033.56

EBITDA - After Ind As 116

32.67

(383.24)

(88.76)

(350.57)

(661.61)

(575.48)

EBITDA Margin(%)

EBIT- After Ind AS 116

EBIT Margin(%)

0.65%

(21.81%)

(5.29%)

(5.17%)

(29.97%)

(4.42%)

(284.92)

(710.82)

(540.41)

(995.74)

(1618.47)

(2318.56)

(5.67%)

(40.46%)

(32.20%)

(14.68%)

(73.31%)

(17.79%)

12

(INR in lakhs)

Sale of Power

Particulars

Revenue

EBITDA - After Ind As 116

Quarter ended

Half Year ended

Year ended

30.09.2021 (Unaudited)

30.06.2021 (Unaudited)

30.09.2020 (Unaudited)

30.09.2021 (Unaudited)

30.09.2020 (Unaudited)

31.03.2021 (Audited)

857.92

690.17

554.27

388.67

755.87

642.36

1412.19

1235.04

1757.44

1078.83

960.22

1159.03

EBITDA Margin(%)

80.45%

70.12%

84.98%

EBIT- After Ind AS 116

419.25

119.12

372.81

EBIT Margin(%)

48.87%

21.49%

49.32%

76.39%

538.37

38.12%

77.75%

421.12

34.10%

65.95%

80.83

4.60%

(INR in lakhs)

Transport of Passengers by Air

Quarter ended

Half Year ended

Year ended

30.09.2021 (Unaudited)

30.06.2021 (Unaudited)

30.09.2020 (Unaudited)

30.09.2021 (Unaudited)

30.09.2020 (Unaudited)

31.03.2021 (Audited)

371.28

350.33

377.23

EBITDA - After Ind As 116

97.61

(41.00)

96.89

EBITDA Margin(%)

26.29%

(11.70%)

25.68%

EBIT- After Ind AS 116

42.95

(95.50)

56.15

721.61

56.61

7.84%

(52.55)

484.8

(4.69)

1182.37

(270.68)

(0.97%)

(22.89%)

(94.25)

(453.20)

EBIT Margin(%)

11.57%

(27.26%)

14.88%

(7.28%)

(19.44%)

(38.33%)

13

Particulars

Revenue

d e t a d

i l

o s n o C

s d o o G

t r o p s n a r T

s n o i t a r e p O s u B

Pre-Covid levels

1st wave

Recovery

Recovery after 2nd wave

54204

52692

55964

50026

56855

60302

44181

Revenue EBITDA

9119

7626

8206

5907

16240

-3155

8947

10392

9851

41728

3957

63814

11506

Q1FY20

Q2FY20

Q3FY20

Q4FY20

Q1FY21

Q2FY21

Q3FY21

Q4FY21

Q1FY22

Q2FY22

42339

43202

45264

6854

6435

6633

41664

5441

14824

-2471

50101

53577

40771

8442

10315

10357

56882

Revenue

EBITDA

10979

38483

4306

Q1FY20

Q2FY20

Q3FY20

Q4FY20

Q1FY21

Q2FY21

Q3FY21

Q4FY21

Q1FY22

Q2FY22

10396

9466

7451

7058

Revenue EBITDA

2096

503

1734

696

529

Q1FY20

Q2FY20

Q3FY20

Q4FY20

-573

Q1FY21

5614

5212

473

5027

33

1757

-383

1678

-89

Q2FY21

Q3FY21

-443

Q4FY21

Q1FY22

Q2FY22

Recovery from Pandemic – Set for Higher growth

14

 Overall demand picked up in the second quarter and Business growth was back to pre-pandemic levels .

 In spite of the difficulties faced, the impact on business was lesser than the first wave witnessed last year, as supply chains were well evolved enough to cope with localized and staggered lockdowns

 Addition of 22 new branches in Q2FY22 and overall 31 new branches in H1FY22. Planning to expand network by opening new branches in untapped market.

Number of GT Vehicles increased from 4575 in FY 21 to 4687 vehicles in H1FY2021-22. New vehicles added in Q1FY22- 54 vehicles, in Q2FY22- 138 vehicles, Total Vehicles added in H1 2021-22 is 192, Sold/scrapped – 80, Net vehicle addition is 112 vehicles.

 Procurement of Bio-fuel @ 11.75% of total quantity in H1FY22, (Q1FY22- 13.49% of total quantity, Q2FY22– 10.55% of total quantity)

 9 electric vehicles added during H1FY22.

Enabled All India Permit for Buses from 01.4.2021

The ICRA Debt rating is reaffirmed as A+(stable)

 Net debt increased from Rs 10144.31 lakhs as on Mar 31, 2021 to Rs 15371.71 lakhs as on Sep 30, 2021.

15

Net Debt to Equity

Gearing Ratio

6278

12880

17706

10144

15372

0.1

0.2

0.3

0.2

0.3

24.32%

9.57%

16.62%

22.30%

14.52%

FY18

FY19

FY20

FY21

Q2FY21

FY17

FY18

FY19

FY20

FY21

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

Return (Profit for the year+Finance costs) on Average capital employed Return(Profit for the year) on average equity

21.7

23.2

9.5

8.4

7.1

0.8

0.3

0.5

0.6

0.4

FY 17

FY 18

FY 19

FY 20

FY 21

Net debt/Ebitda(x)

Ebitda/finance cost(x)

13%

13%

16%

15%

14%

15%

16%

14%

11%

7%

FY 17

FY 18

FY 19

FY 20

FY 21

16

17

For further discussions/queries please contact :

Sunil Nalavadi Chief Financial Officer +91 93425 59298

cfo@vrllogistics.com