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VRL Logistics Ltd.

BSE: 539118 | NSE: VRLLOG |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE366I01010 | SECTOR: Transport & Logistics

BSE Live

Sep 27, 16:00
386.60 1.45 (0.38%)
Volume
AVERAGE VOLUME
5-Day
71,411
10-Day
42,139
30-Day
26,934
14,276
  • Prev. Close

    385.15

  • Open Price

    385.00

  • Bid Price (Qty.)

    386.60 (15)

  • Offer Price (Qty.)

    386.50 (30)

NSE Live

Sep 27, 15:59
387.15 1.90 (0.49%)
Volume
AVERAGE VOLUME
5-Day
925,685
10-Day
575,414
30-Day
393,992
429,579
  • Prev. Close

    385.25

  • Open Price

    380.05

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    387.15 (11014)

Annual Report

For Year :
2018 2017 2016 2015 2014

Chairman's Speech

Dear Shareholder VRL Logistics Limited has completed one year since its successful listing. The year gone by presented many challenges and we had to work hard to overcome these. I take great delight on the company crossing Rs.100 crores in net profits, a first in its history. The overall economy remained sluggish during the year. Reality at the ground level is that the business volume across sectors struggles to sustain preceding levels. Our company has had a long history of sustained growth even during similar tough times in the past. We managed to post a nominal growth in the overall business volume but remain satisfied that we have not compromised on the quality of our business for the sake of growth. The erosion in margin was predominantly on account of a significant increase in employee costs. We divided our business operations into metro, mid sized cities and smaller towns and have affixed a minimum salary scale for each of these to ensure a decent pay package for our staff, especially the lower level cadre and the same has resulted in salary correction. This is a one-time measure and I do not envisage something similar in the near medium term. On the capex front, we would continue to add to our fleet. Such fleet addition should not be linked to the immediate performance but would be undertaken with a long term perspective. Addition of vehicles would reduce dependence on outside vehicles, ensure vehicle availability during festive seasons and peak periods, lead to better service levels as also would be necessary to remain compliant with environmental regulatory requirements in certain pockets of the country. I am confident that we would complete the pending utilization of IPO proceeds earmarked for fleet addition in the coming year. On the business front we will continue to remain focused on existing verticals and aim to increase freight tonnage in the goods transportation division as also improve occupancy levels in the bus operation segment. The company''s top management continues to engage extensively with the senior and middle level management of the company across India to guide and mentor these individuals as also set a tone for inclusive decision making and the same has extensively benefited the company in the past. Regaining the erstwhile business growth would be the focal point in all such interactions. GST would soon be a reality and after overcoming the hiccups associated with the initial implementation this law will provide a big boost to organized players in our industry. VRL today is GST ready and eagerly awaits the stabilization of the new GST regime. I am confident that the share of Less than Truck Load (LTL) business would go up post implementation. I hope however that this law is implemented in right earnest and would actually bring in the benefits being anticipated by my fellow transport brethren. I sincerely hope that the government would also play equal emphasis in speeding up the passage and implementation of the impending Road Safety and Transport Bill. Coupled with GST this would bring in a seamless movement of goods vehicles across the country, reducing transit times and bring in more economy to the end users. The other developmental schemes and initiatives being announced by the present government are also expected to fuel growth in the days to come. At the Board level, the directors remain aware of their obligations to the business operations more specifically in respect of setting up internal controls and ensuring that these continue to operate in a satisfactory manner. The Board is committed to maintain the highest standards of Corporate Governance and integrity. The Board also opines that more executive representation is warranted at the Board level and there could be some changes on this front in the near future. Lastly, I wholeheartedly complement all the employees of VRL for their individual contribution at all levels. I also thank all the stakeholders - Bankers, Investors, Customers, Suppliers, Government authorities, Regulators and the management team including the Co-Directors on the Board for their continued association with VRL. I look forward to regaining our growth in the days to come. Sincerely, DR. VIJAY SANKESHWAR CHAIRMAN ACY- MANAGING DIRECTOR