Dolat Capital recommended accumulate rating on VRL Logistics with a target price of Rs 300 in its research report dated February 11, 2019.
Dolat Capital's research report on VRL Logistics
Even with high competition intensity and uncertainty in fuel cost, there are signs of improvement in business sentiment with a likely a tonnage growth of 7-8%. This likely to help the company able to achieve its targeted revenue growth of 10% YoY for FY19, in our view.
Hence, we continue to be positive on the company’s growth prospects, with an estimated CAGR growth of 13% for FY18-21E in earnings and continue to maintain Accumulate with a TP ` 300.
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