VRL Logistics Limited, a leading pan-India surface logistics and parcel delivery service providers, posted a Net Profit (standalone unaudited) of Rs. 35.38 crore...
VRL Logistics Limited, a leading pan-India surface logistics and parcel delivery service providers, posted a Net Profit (standalone unaudited) of Rs. 35.38 crore posting a strong increase of 40.93% (as compared to Rs. 25.1 crore) for the first quarter (Q1 FY16) ended June 30, 2015. The Net Profit increased 82.67% as compared to Rs. 19.37 crore in Q4 FY15.
The Total Income from operations increased to Rs. 447.011 crore (up 9%) from Rs. 411.36 crore for the quarter.
Earnings per share (not annualised) was Rs. 3.94 as compared to Rs. 2.94 in Q1 FY15.
The Company held its 32nd Annual General Meeting on August 8, 2015, which was attended by Dr. Vijay Sankeshwar (Chairman) and Mr. Anand Sankeshwar (MD).
The segment revenue of the Goods transport business increased to Rs. 339.69 crore (up 12.66%) in Q1 Fy16. The segment revenue from Bus operations stood at Rs. 94.69 crore in Q1 FY16. The segment revenues from sale of power increased to Rs. 7.1 crore (up 10.54%) in Q1 FY16.
The Company completed its Initial Public Offering (IPO) pursuant to which 22,823,333 equity shares of the Company of ₹ 10 each were allotted at a price of ₹ 205 per equity share consisting of fresh issue of 5,707,333 equity shares and an offer for sale of 17,116,000 equity shares by the selling shareholders. Out of the total proceeds from the IPO of Rs. 467.88 crore, the Companys share is Rs. 117.00 crore arising from the fresh issue of equity shares. The equity shares of the Company were listed on National Stock Exchange of India Limited and BSE Limited on April 30, 2015.
VRL Logistics Ltd. owned and operated the largest fleet of commercial vehicles in the private sector in India (Source: Limca Book of Records, 2013, data as of May 2012). It provides general parcel and priority parcel delivery (less than truckload services, LTL), courier and full-truckload (FTL) services through its widespread transportation network in 28 States and four Union Territories across India. Its operational infrastructure for the goods transportation business as of December 31, 2014 comprised 624 branches (comprising 604 leased branches and 20 owned branches) and 346 agencies across India, and of such 624 branches, 48 (41 leased branches and seven owned branches) served as strategic transshipment hubs for its operations.
The Company operates through a hub-and-spoke operating model, which enables it to transport various parcel sizes and provide customers with access to multiple destinations for booking and delivery of goods. Its extensive network enables it to provide last mile connectivity to even remote areas in India. As of December 31, 2014, the Company goods transportation fleet included 3,546 owned vehicles. The large fleet, most of which is owned by the Company, enables it to reduce dependence on hired vehicles, retain control of the value chain and service quality, and establish a reputation for reliable and timely delivery of consignments.
The variety of goods transportation vehicles in the fleet also enables the Company to serve a diverse mix of consignments. Its goods transportation service business serves a broad range of industries, including the fast moving consumer goods (FMCG) sector as well as other industries including food, textiles, apparel, furniture, appliances, pharmaceutical products, rubber, plastics, metal and metal products, wood, glass, automotive parts and machinery. The Company differentiated service offerings, large integrated hub-and-spoke transportation network, extensive operational and maintenance infrastructure and in-house technology systems have enabled it to develop its brand across India.
The Company also provides luxury bus services across the States of Karnataka, Maharashtra, Goa, Andhra Pradesh, Telengana, Tamil Nadu, Gujarat and Rajasthan. It also operates car carrier vehicles for transportation of cars, vehicles for liquid transportation, as well as a courier service business across the State of Karnataka. The Company has received various industry awards and recognition over the years, including the India Logistics Voice of Customer Award by Frost and Sullivan in 2014 for achieving excellence in logistics and Service Provider of the Year (luxury coaches) in 2013 from World Travel Brands for bus operations. In addition, Chairman and Managing Director, Dr. Vijay Sankeshwar and Managing Director, Mr. Anand Sankeshwar have also received several awards in recognition of their entrepreneurship and business excellence.