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Financial Results for the Quarter and Half- Year ended September 30, 2026 Leading the way in LTL logistics with robust owned-asset infrastructure, ensuring reliability and service excellence
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DISCLAIMER • 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 herein. • The information contained in this presentation has not been independently verified and no representation or warranty expressed or implied, is made and no reliance should be placed on the fairness, accuracy, completeness of the information contained herein. • This presentation may contain certain forward looking statements within the meaning of applicable securities laws and regulations. These statements include details of the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial position of the Company. Such forward-looking statements are not a guarantee of future performance 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. Many factors could cause the actual results, to be materially different 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, etc • 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 contents or otherwise arising in connection with this document. • This document does not constitute an offer or invitation to purchase or subscribe to 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
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FINANCIALS
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PERFORMANCE AND PROGRESS REVENUE RATING UPGRADE A+ (ICRA) VRL LOGISTICS LTD A NEW BENCHMARK IN H1 FY27 Q2 FY27 ₹ 967 Cr 20% QYOY REVENUE EBITDA ₹ 226 Cr 43% QYOY PROFIT ₹ 103 Cr 106% QYOY ₹ 1851 Cr 19% H1-YOY REVENUE EBITDA ₹ 418 Cr 32% H1-YOY PROFIT ₹ 183 Cr 84% H1-YOY ₹ 5.89 106% Q-YOY EPS EQUITY BUYBACK @ ₹ 320/- per equity share EQUITY BUYBACK Total Size of ₹ 280 Cr Record Date : 22/10/2026 ₹ 10.49 84% H1-YOY EPS
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Q2 & H1FY27 Key Highlights +19% Total Income (₹ Cr.) EBITDA (₹ Cr.) PAT (₹ Cr.) Tonnage ( in ‘000s) Realisation per ton (₹) 90.4% 8.2% 1.4% LTL FTL Others Cash Flow from Operations (before working capital changes) (in ₹ Cr.) 416 H1FY27 Sales Mix (%) 19.7% 23.3% Margin % 6.2% 10.7% 5 (vs ₹ 314 in H1FY26) Net Debt (in ₹ Cr.) 337 (vs ₹ 440 cr. As at Mar 2026) 20.3% 22.6% 6.4% 9.9% 804 967 Q2FY26 Q2FY27 1555 1851 H1FY26 H1FY27 158 226 Q2FY26 Q2FY27 316 418 H1FY26 H1FY27 50 103 Q2FY26 Q2FY27 100 183 H1FY26 H1FY27 976 1079 Q2FY26 Q2FY27 1911 2099 H1FY26 H1FY27 8079 8840 Q2FY26 Q2FY27 7968 8697 H1FY26 H1FY27 +20% +43% +32% +9% +9% +10%+11% +106% +84% • Note: % to Total Revenue • LTL- Less than Truck Load • FTL- Full Truck Load GROWTH -Intensified Marketing Efforts in established and new branches to improve volumes Expansion - Strategic Geographical Expansion in untapped areas Efficiency - Disciplined cost management ensuring efficiency in key operating expense
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Profit & Loss Statement 6 Profit and Loss (in ₹ Cr.) Q2FY27 Q2FY26 Q-YoY Q1 FY27 QoQ H1FY27 H1FY26 H-YoY Revenue from Operations 961.9 797.0 21% 878.8 9% 1840.8 1541.3 19% Other Income 4.7 7.0 6.0 10.7 13.5 Total Income 966.6 803.9 20% 884.8 9% 1851.4 1554.8 19% Freight, handling and servicing cost 567.8 480.4 522.0 1089.8 920.9 Employee Cost 159.3 147.1 153.6 312.9 282.8 Other Expenses (Administrative Expenses) 13.9 18.3 16.6 30.5 34.9 EBITDA 225.6 158.1 43% 192.6 17% 418.2 316.2 32% EBITDA Margin 23.3% 19.7% 367 bps 21.8% 158 bps 22.6% 20.3% 225 bps Depreciation 63.9 64.8 62.4 126.2 129.4 EBIT 161.8 93.4 73% 130.2 24% 292.0 186.8 56% EBIT Margin 16.7% 11.6% 512 bps 14.7% 202 bps 15.8% 12.0% 376 bps Finance Cost 23.9 24.2 22.7 46.6 50.5 Profit before Tax 137.8 69.1 99% 107.5 28% 245.4 136.3 80% Profit before Tax Margin 14.3% 8.6% 566 bps 12.2% 211 bps 13.3% 8.8% 448 bps Tax 34.9 19.2 27.0 61.9 36.4 Profit for the year (Excl. comprehensive loss/income) 103.0 49.9 106% 80.5 28% 183.5 99.9 84% Profit After Tax Margin 10.7% 6.2% 445 bps 9.1% 155 bps 9.9% 6.4% 348 bps
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7 Revenue increased by 20% Q2YoY , 9% QoQ & 19% H1YoY Driven by strong value proposition and deep customer trust, business improved with volumes increasing 11% Q2YoY , 6% QoQ & 10% H1YoY Fuel price escalation along with rationalization of freight contracts necessitated freight rate hike, resulting in 9% Q2YoY ,3% QoQ & 9% H1YoY uplift in realisation. We expanded our footprint by adding 67 new branches in H1FY27, strengthening our geographic reach Addition of New customers including Contractual customers. FINANCIAL PERFORMANCE Revenue Analysis
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Profitability Analysis – Q2 YoY Q2 YOY Q2-27 Q2-26 Q2-27 Q2-26 Difference (%) Reasons ₹ in Crores (% to Revenue) EBITDA 225.6 158.1 23.34% 19.67% 3.67% Increase in Volumes & Freight Rates leads to increase in margins Fuel Cost 247.1 205.7 25.57% 25.59% -0.02% • Fuel consumption qty increased by 5.5% • Average procuring cost per litre of Diesel increased from ₹ 85.44 to ₹ 97.05 • Bulk Purchase from refineries down from 40.6% to 13.1%, as bulk prices were higher than the Retail prices. Bridge & Toll Expenses 68.3 62.3 7.07% 7.75% -0.68% • Increase in kms by own Vehicles, Increase in number of Toll Plazas from 1861 to 2057 across India, Increase in toll prices from 1st April, However Percentage to revenue is decreased due to freight hikes Hamali (Loading & Unloading charges) 58.4 50.4 6.05% 6.27% -0.22% • Increase in Tonnage, Percentage to revenue is decreased due to freight hikes Vehicle Running, R & M 53.5 42.2 5.53% 5.25% 0.29% • Increase in Kms run by own Vehicles, Increase in Driver incentives per km Lorry Hire Charges 43.2 35.6 4.47% 4.43% 0.04% • Increase in long haul hired vehicle Kms.and Increase in Cost per Km Other Operating Expenses 97.2 84.2 10.06% 10.48% -0.42% • Percentage to revenue is decreased due to increase in Volumes & Freight rates Employee cost 159.3 147.1 16.48% 18.30% -1.82% • Increments from Aug 25. However Percentage to revenue is decreased due to increase in Volumes & Freight rates Administrative Expenses 13.9 18.3 1.43% 2.28% -0.84% • Decrease in Legal & Professional fees & CSR expenses Depreciation 63.9 64.8 6.61% 8.06% -1.45% • Decrease in ROU EBIT 161.8 93.4 16.73% 11.61% 5.12% • Due to increase in EBITDA margins Finance Costs 23.9 24.2 2.48% 3.02% -0.54% • Due to decrease in Interest on Lease liability PBT 137.8 69.1 14.26% 8.60% 5.66% • Due to increase in EBIT margins PAT 103.0 49.9 10.65% 6.21% 4.45% • Due to increase in PBT margins. 8
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Profitability Analysis - QoQ QoQ Q2-27 Q1-27 Q2-27 Q1-27 Difference (%) Reasons ₹ in Crores (% to Revenue) EBITDA 225.6 192.6 23.34% 21.76% 1.58% Margins increased due to increase in Volumes and effect of Freight hikes Fuel Cost 247.1 224.5 25.57% 25.37% 0.19% • Fuel consumption qty increased by 6.4% • Average purchase cost per litre of fuel increased from ₹ 93.73 to ₹ 97.05 • Bulk Purchase from refineries in Q2FY27 was 13.14%. No bulk purchases in Q1FY27 as prices were higher than the Retail prices. Bridge & Toll Expenses 68.3 63.3 7.07% 7.16% -0.09% • Increase in Kms. Increase in number of Toll Plazas from 2026 to 2057. Percentage to revenue is decreased due to effect of freight hikes Hamali (Loading & Unloading charges) 58.4 54.2 6.05% 6.12% -0.08% • Increase in Tonnage, Percentage to revenue is decreased dueto freight hikes Vehicle Running, R & M 53.5 48.5 5.53% 5.48% 0.06% • Increase in Kms run by own Vehicles Lorry Hire Charges 43.2 39.3 4.47% 4.44% 0.03% • Increase in long haul hired vehicle Kms Other Operating Expenses 97.2 92.2 10.06% 10.42% -0.36% • Percentage to revenue is decreased due to increase in Volumes & Freight rates Employee cost 159.3 153.6 16.48% 17.36% -0.89% • Percentage to revenue is decreased due to increase in Freight rates Administrative Expenses 13.9 16.6 1.43% 1.88% -0.44% • Decrease in Travel & Conveyance & CSR expenses Depreciation 63.9 62.4 6.61% 7.05% -0.44% • Increase in Capex. Percentage to revenue is decreased due to freight hikes EBIT 161.8 130.2 16.73% 14.72% 2.02% • Due to increase in EBITDA Finance Costs 23.9 22.7 2.48% 2.56% -0.09% • Due to increase in interest on borrowings. Percentage to revenue is decreased due to freight hikes PBT 137.8 107.5 14.26% 12.15% 2.11% • Due to increase in EBIT PAT 103.0 80.5 10.65% 9.10% 1.55% • Due to increase in PBT 9
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Profitability Analysis – H1-YoY H1-YoY H1-27 H1-26 H1-27 H1-26 Difference (%) Reasons ₹ in Crores (% to Revenue) EBITDA 418.2 316.2 22.59% 20.34% 2.25% Increase in Volumes & Freight Rates leads to increase in margins Fuel Cost 471.6 396.5 25.47% 25.50% -0.03% • Fuel consumption qty increased by 5% • Average purchase cost per litre of fuel increased from ₹ 84.30 to ₹ 95.46 • Bulk Purchase from refineries down by 34.17% from 41.03% to 6.86% as bulk prices were higher than the Retail prices. Bridge & Toll Expenses 131.6 120.4 7.11% 7.74% -0.63% • Increase in kms by own Vehicles, Increase in number of Toll Plazas from 1861 to 2057 across India, Increase in toll prices from 1st April, However Percentage to revenue is decreased due to freight hikes Hamali (Loading & Unloading charges) 112.6 97.5 6.08% 6.27% -0.19% • Increase in Tonnage, Percentage to revenue is decreased due to freight hikes Vehicle Running, R & M 102.0 76.9 5.51% 4.95% 0.56% • Increase in Kms run by own Vehicles, Increase in Driver incentives per km Lorry Hire Charges 82.5 65.1 4.46% 4.19% 0.27% • Increase in long haul hired vehicle Kms. Increase in rate per km Other Operating Expenses 189.5 164.5 10.23% 10.58% -0.35% • Percentage to revenue is decreased due to increase in Volumes & Freight rates Employee cost 312.9 282.8 16.90% 18.19% -1.29% • Increase in Employee strength. Percentage to revenue is decreased dueto increase in Volumes & Freight rates Administrative Expenses 30.5 34.9 1.65% 2.24% -0.60% • Decrease in Legal & Professional fees & CSR expenses Depreciation 126.2 129.4 6.82% 8.32% -1.51% • Decrease in ROU EBIT 292.0 186.8 15.77% 12.01% 3.76% • Due to increase in EBITDA Finance Costs 46.6 50.5 2.52% 3.25% -0.73% • Due to decrease in Interest on Lease Liabilities PBT 245.4 136.3 13.25% 8.77% 4.48% • Due to increase in EBIT PAT 183.5 99.9 9.91% 6.43% 3.48% • Due to increase in PBT 10
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1070 1093 1104 1006 935 976 1007 1037 1019 1079 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Volume & Realisation 6723 7241 7390 7944 7852 8079 8117 8147 8546 8840 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 11700+ tons serviced on a daily basis (Q2FY2027) 11 Realization and margins improved through price hike from Q2FY25 and a strategic exit from low-margin business in Q4FY25 GT Tonnage (in ‘000) Strategic refocusing caused a temporary volume dip, followed by a strong rebound and a more robust market position Realisation per ton (₹)
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Balance Sheet 12 Assets (in ₹ Crs.) SEP-26 SEP-25 Non - Current Assets 2475.5 2401.2 Property Plant & Equipment 1803.6 1706.8 CWIP 32.8 22.5 Right-of-use assets 566.7 596.7 Investment Properties 0.8 0.8 Intangible assets 0.2 0.2 Financial Assets Investments 0.1 0.1 Others Financial Assets 36.1 34.6 Income tax assets (net) 11.0 10.3 Other non-current assets 24.3 29.3 Current Assets 485.8 203.9 Inventories 42.0 43.7 Investments 280.8 Trade receivables 101.6 85.6 Cash and cash equivalents 12.0 15.5 Bank balances other than cash and cash equivalents 0.1 0.1 Other Financial Assets 19.0 19.4 Other Current Assets 30.3 39.6 Total Assets 2961.3 2605.1 Equity & Liabilities (in ₹ Crs.) SEP-26 SEP-25 Total Equity 1324.0 1142.4 Share Capital 174.9 174.9 Other Equity 1149.1 967.5 Non-Current Liabilities 1152.1 1048.8 Financial Liabilities (i) Borrowings 446.5 334.1 (ii) Lease Liabilities 525.6 545.8 (iii) Other Financial Liabilities 16.1 14.9 Provisions 76.6 70.9 Deferred Tax Liabilities 87.4 83.1 Current Liabilities 485.2 413.9 Financial Liabilities (i) Borrowings 183.7 121.6 (ii) Trade Payables 30.0 26.3 (iii) Lease Liability 156.9 152.6 (iv) Other Financial Liabilities 52.6 57.9 Other Current Liabilities 24.5 23.5 Income tax liabilities (net) 18.8 14.6 Provisions 18.8 17.5 Total Equity & Liabilities 2961.3 2605.1
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Cash Flow Statement 13 Particulars (in ₹ Cr.) SEP-26 SEP-25 Net Profit Before Tax 245.4 136.3 Adjustments for: Non -Cash Items / Other Investment or Financial Items 170.4 177.7 Operating profit before working capital changes 415.7 314.1 Changes in working capital 0.8 26.9 Cash generated from operating activities before tax 416.5 341.0 Income taxes paid (net of refund) -54.0 -6.8 Net Cash from Operating Activities 362.5 334.2 Net Cash from Investing Activities -440.5 -43.1 Net Cash from Financing Activities 74.5 -284.5 Net Decrease in Cash and Cash equivalents -3.5 6.6 Add: Cash & Cash equivalents at the beginning of the period 15.5 53.1 Cash & Cash equivalents at the end of the period 12.0 59.8
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Key Financial Ratios Net Debt to Equity (x) Trade Receivable turnover ratio (times) ROCE (%) ROAE (%) 14 0.2 0.2 0.3 0.4 0.4 0.3 FY22 FY23 FY24 FY25 FY26 H1FY27 36.5 35.6 33.9 34.9 36.1 FY22 FY23 FY24 FY25 FY26 30% 21% 15% 21% 25% FY22 FY23 FY24 FY25 FY26 26% 20% 9% 18% 21% FY22 FY23 FY24 FY25 FY26 Debt to Equity = (Borrowings-Cash & Cash Eq-Investments) / Total Equity ROCE= EBIT/CAPITAL EMPLOYED Trade receivables turnover ratio = Revenue from operations / Average Trade Receivables ROAE = Profit for the year / Average NetworthCapital employed = Tangible net worth (i.e., net worth - intangible assets) + total borrowings + deferred tax liabilities
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15 Number of branches increased from 1293 branches in FY26 to 1337 branches in H1FY27. New Branches added in H1FY27 is 67 branches. Closed/Merged : 23 branches, Net addition is 44 branches Purchase of properties at Vijayawada, Nagpur, Chikkamagaluru, Aroor, Lucknow, Raipur. The size and key location of these properties make it ideal for future expansion plans to support the Company's growth objectives Expansion of existing Branch Area/TPT Area at select locations Number of GT Vehicles increased from 5932 vehicles in FY26 to 5941 vehicles in H1FY27. New Vehicles added in H1FY27 -238 (HCV- 225, LCV-4,SV-8, EV-1), sold/scrapped : 229 vehicles- (HCV-160, LCV-68,CRANE-1). Net vehicle numbers increased by 9 vehicles in H1FY27 Direct procurement of fuel is reduced from 41.03% in H1-FY26 to 6.86% in H1-FY27 due to increase in bulk supply fuel rates Total CAPEX incurred in H1FY27 is ₹ 158 crores. ( Q1 FY27 – 76 crores, Q2FY27 - 82 crores) Net debt decreased from ₹ 440 crores as on 31.03.2026 to ₹ 337 crores as on 30.09.2026 Long term ICRA Credit Rating improves from A+(stable) to A+(positive) The shareholders of the Company approved the aforesaid buy-back through postal ballot on 3 October 2026, and the Company submitted the Letter of Offer dated 24 October 2026 to the National Stock Exchange of India Limited and BSE Limited. The record date for determining the entitlement and eligibility of shareholders for participation in the buy-back is fixed as 22 October 2026. The buy-back process is expected to complete upon settlement of the bids received through the stock exchange mechanism. Accordingly, the consequential reduction in equity share capital and other equity will be recognised in the interim financial results for the quarter and nine-months period ending 31 December 2026. Key Developments – H1FY27
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Growth Blueprint 1 Core focus on GT Business Expansion in network & ownership of necessary infrastructure 4 Strategic Fleet Planning Assess the need for fleet addition based on tonnage growth and evolving demand scenario Expand in newer Geographies Focus on branch addition in untapped geographies such as North & Northeastern region 2 Focus on Volume improvement Undertake mass marketing in existing as well as newer branch locations for volume growth and identify profitable freight contracts 3 Key Focus Areas 16 Actively managing risks posed by current geopolitical developments and potential thereof to cause volatility in fuel rates and other input costs
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ABOUT VRL
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Operating Strategy Only "Owned Asset" organized LTL Player in India. Integrated Hub-and-Spoke model for efficient consignment distribution . Customised supply chain solutions with storage facilities. Superior Fleet & Design Efficient operations with wide fleet variety.(Trucks, Trailers) Chassis specially designed by OEMs for high-performance. In-house vehicle body design facilities ensuring higher payloads. Distribution Network Robust Pan-India network across 28 States & UTs. Extensive branch network with massive transshipment hubs. Scalable infrastructure for seamless logistics flow. Cost & Financial Efficiency ~11% vehicles fully depreciated; ~76% debt-free. Minimal outsourcing of Outside Vehicles to save related margins. High EBITDA margins @ 20% and HIGHER cash flow from asset ownership. Self-Reliant Ecosystem Dedicated in-house maintenance & inventory facilities. Efficient & Effective Driver Management. High reliability through end-to-end operational controls Digital & Regulatory Edge Proprietary ERP system for real-time tracking. Full E-way bill automation and GST API integration. Data-driven decision making and regulatory compliance. → → → → → → → → → → → → → → → → → → Market Leader in B2B Parcel Segment 14
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Fuel Procurement Procurement of diesel directly from Refineries by setting own fuel pumps in key locations Supports in improvement of margins Wide range of Customers Not dependent on any major customer or any product category 10 lakh plus Diversified Customer base offering varied Commodity mix Lowest Claim ratio in the Industry Rs.0.68 cr claim on ~ Rs. 1851 Cr revenue(H1FY27) (Percentage to revenue is 0.04% All Consignments tagged with barcodes & scanned for effective tracking Vehicles equipped with OTP locks for additional security Experienced Manpower 22000+ Employees Lowest attrition rate 9000+ drivers on company payroll with all statutory benefits VRL - Key Differentiators Hardly any collectible more than 90 days. Trade Receivables at 10 days of Total revenue in FY26 Most efficient collection mechanism 15 Lower Net Debt Level Net Debt @ INR 337 Crs Lower cash burnout for servicing and repayment
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VRL’s GROWTH JOURNEY From ONE Truck to 5900+ Trucks 20 1976 Dr. Vijay Sankeshwar started ‘Goods Transport’ Business through a proprietary firm 1994 Became a deemed Public Limited company 1997 Status of the company changed from deemed Public Limited company to Public Limited Company 2003 Entered into Limca Book Records as the largest fleet owner of commercial vehicle in the private sector in India 2006 Company name changed to VRL Logistics Limited, Obtained ISO 9001:2000 2015 Listing on NSE and BSE stock exchanges 2017 Registered as a Member of International Air Cargo Association (IATA) Buy Back of Shares 20202023 Owned vehicles number crossed 5,000 2025 Crossed turnover of ₹3,000 Cr. Bonus issued 1:1 2012 Private Equity Placement 2021 Buy Back of Shares Buy Back of Shares 2026 Celebrating 50 years of logistics success Buy Back of Shares
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• LTL involves transportation of consignments belonging to multiple customers in single vehicle • Our wider reach and adequate infrastructure helps in aggregating LTL consignments from various clients and sending them to the desired destinations Focus on high margin LTL business • Majority of revenues from To –Pay and Paid customers with spot collection of revenue. • Lowest receivable days in the industry (Trade receivable days at 10 days in H1FY27) • Enhances cash flow stability – Reduces dependency on credit lines for working capital • Lowest Bad Debts Faster Revenue collections - Majority sales without credit • The primary focus is on B2B customers across diversified sectors. B2B Focus - Diversified sectors and customers B2B LTL Focus LTL 90.4% FTL 8.2% Others 1.4% • Note: % to Total Revenue • LTL- Less than Truck Load • FTL- Full Truck Load Revenue breakup (H1FY27) ACCOUNT 16% (Contractual customers with standard credit period) PAID 15% (Freight realization at Booking station from consignor with minimal credit days to select customers) TO PAY 68% (Freight realization at delivery station from consignee with minimal credit days to selected customers) 17
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1 We take pride in our extensive fleet of modern, well-maintained vehicles that are optimized for efficiency and reliability. 2 Our diverse fleet includes a wide range of trucks, trailers, and specialized equipment to handle any freight requirements. Our vehicles are regularly serviced and inspected to meet the highest industry standards. 3 From large trucks for long-haul transportation to nimble delivery vans for urban areas, we have the right vehicle for every job. 5 With a strong focus on safety and compliance, all our drivers are on the payroll of the company & undergo extensive training . 4 Our vehicles are regularly serviced and Inspected to meet the highest industry standards. All our vehicles are covered and equipped with GPS to track vehicles as well as consignments. This commitment to excellence ensures that goods are transported with the utmost care and arrives at its destination on time and in perfect condition. 6 Owned Fleet
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Driving Reach with our Fleet Size and Operational Capacity 489 1374 1112 2252 210 4691327 9725 11656 41650 4733 12893 <5 tons 5 - 10 tons 10 - 15 tons 15 - 20 tons 20 - 25 tons 25 - 30 tons Number of Trucks & Capacity in each category No. of GT Vehicles Capacity (Tons) 23 Largest fleet owner in India 5900+ vehicles 76% Of total vehicles are debt free 11% Of total vehicles are fully depreciated and are operating in optimal condition Note: As on JUNE -26 Vehicles Added Vehicles Scrapped 490 Q2YoY|131QoQ 331 Q2YoY |171 QoQ Total Vehicles (Incl. Cranes and Tankers) 5941 Total Carrying Capacity (tons) (Excl. Cranes and Tankers) 4701 Q2YoY 393 QoQ ( 77284 in Q2FY26 \ 82378 in Q1FY27) 81985 159 Q2YoY 40 QoQ ( 5782 in Q2FY26 \ 5981 in Q1FY27)
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Core to Edge Connectivity with Continuous Expansion KA 238 AP 88 KL 40 TG 58 TN 142 UT(PY) 05 GOA 08 MH 172 GJ 113 UT(DM&SL)2 RJ 35 HY 44 CG 15 DL 42 HP 19 J&K-UT 11 PB 34 UK 09 UP 85 CH-UT 01 MP 26 BR 26 JH 12 OR 29 WB 68 AS- 12 TR 02 Note : Map not to scale VRL’s Extensive Presence Across 24 States & 4 Union Territories Powers Nationwide Growth and Demand Fulfillment 1337 Branches 50 Hubs ~ 90% Revenue from LTL Segment 1.87 Mn Sq. Ft.Owned Hubs 4.56 Mn Sq. Ft.Leased Hubs Owned Hubs Bhiwandi, Mumbai Bengaluru Hubballi, Varur Vijayapura Surat Davanagere Mangaluru Ballari Mysuru Focus on Geographical Expansion Leader in the B2B LTL Segment 24 ML- 01 Note: As on Sep 26 Vishakhapatnam Nagpur Owned properties in 40 locations
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Hub & Spoke Strategy Continuous Movement for Loads Reduced length of Haul Consistent On time Performance Improved Driver Recruitment & Retention Reduced Cost and enhanced productivity Lower Carbon Footprint Improved Vehicle Utilisation Strengths of the model Consolidation Distribution Fragmentation 25
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Diversified across Sectors and Customers Expertise In Handling Variety of Commodities Diversified B2B Customer Base across Wide Range of Industries Storage facility available in all our Delivery branches No single customer contributing more than 1% of Total Revenue Lowest Bad Debts 26 Only player offering customized bike cages designed in-house for 2-Wheelers Textile Goods Agriculture Products Construction Materials Industrial Goods Pesticides Sports Goods Leather Products Books, Paper & Education Goods Footwear & Rubber Products Electrical & Electronic Goods Metals & Hardware Stationery Goods Machinery Food Products Automotive Parts & Spares Pharma Goods FMCG Plastic Goods Packaging Goods General Goods Hassle Free Claim Settlement
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Tech-Enabled Superiority in Every Kilometre Enables real time operations and movement of consignments In-house developed ERP System Monitors vehicle movement, fuel consumption per km, distance travelled, driver payments Operations Monitoring System To ensure real time tracking Advanced Consignment Management system Complete automation by API integration with Government Software E-way bill, E- invoice GST Compliance Enhanced securityPrivate Cloud Hosting API integration with banks for real time monitoring Cash Management System(CMS) To tackle disruptions, enable robust disaster recovery & business continuity infrastructure Alternative and Backup Systems Loading process tracked live to optimize vehicle utilization before Trip sheet preparation Tracking Capacity Utilization GPS tracking devices in both hired and owned vehicles to monitor vehicle movement GPS Ability to generate real time reports instantly from Smartphones Real Time Report Generation To track vehicle maintenance for route planning Customized Software alert systems Monitoring of TPT operations; branch-wise rollout underway Centralized CCTV monitoring 27 Unlocking Trust with Technology - OTP-Based Vehicle Unlocking for Verified and Secure Deliveries
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Sustainability at core of our operations Environmentally Friendly Fleet Renewable Energy Initiatives Waste Reduction and Recycling We are committed to reduce our carbon footprint through the use of a modern, fuel-efficient fleet Our electric forklifts at TPTs are battery powered, promoting sustainable energy use. Our trucks feature advanced engine and emission technologies, helping reduce greenhouse gas emissions and meet the highest environmental standards. We invest in upgrading our vehicles to ensure they comply with environmental standards. We have invested in renewable water solutions at our facilities. We have installed rainwater harvesting systems, allowing us to generate clean, renewable water to power our operations We are exploring opportunities to implement other renewable energy sources, like solar panels to reduce reliance on traditional energy sources and minimize our environmental impact. We have implemented comprehensive waste management and recycling programs across our operations. Our facilities are designed to maximize recycling, and we partner with certified local waste management service providers to ensure the proper disposal and processing of all recyclable materials We salvage the spare parts that are in good working condition whenever a vehicle is scrapped. Our fleet has 77 EV Vehicles & 109 CNG Vehicles 28
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Leadership Team of Excellence Dr. Vijay Sankeshwar Chairman & Managing Director Dr. Anand Sankeshwar Managing Director Honored With The Padmashri Award in 2020 For contribution To Trade & Industry Honored with the Karnataka Rajyotsava Award by the Government of Karnataka on November 1, 2019 Actively Involved In Day-To-Day Management, Has Over Four Decades Of Experience In The Logistics Industry Former Member Of Parliament In 11th, 12th & 13th Lok Sabha. Honorary Doctorate By Karnatak University Recipient Of Several Awards Including The ‘Udyog Ratna’ By Institute Of Economic Studies New Delhi. ‘Transport Personality Of The Year’ Honorary Doctorate by Karnataka State Open University Actively Involved In Day-To-Day Business Operations. Recipient Of Awards - ‘YOUTH ICON’ By Annual Business Communicators Of India. ‘Best 2nd Generation Entrepreneur’ By Tie Global USA Inspirational Leaders Of New India Award The Most Admired Entrepreneur Of The Year (Logistics) by The RISING LEADERSHIP AWARDS The Prestigious “GAME CHANGER AWARD” Award by Media News 4u.com “Champions of Change- Karnataka 2023 award” by IFIE (Interactive Forum on Indian Economy) WINNER of South India Business Awards- South Power List 1001 29
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Shareholding Pattern as on September 30, 2026 30 60.24% 24.50% 3.69% 11.57% Promoter Mutual Funds Foreign Portfolio Investors Others Only ‘Asset Right’ organised player in the LTL Segment 1 Broad Customer Base with Low Revenue Concentration Risk with Most efficient Collection Mechanism 2 Cash-Rich Operations Supporting Consistent Shareholder Returns3 Key Strengths and Future Growth Drivers 2
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Historical Profit & Loss Statement 31 Profit and Loss (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Revenue from Operations 3221.1 3160.9 2,888.6 2,648.5 2,163.6 Other Income 23.7 24.2 21.1 14.3 16.8 Total Income 3244.8 3185.2 2,909.7 2,662.9 2,180.4 Direct Expenses 1922.5 1998.1 1,966.8 1,799.0 1,418.2 Employee Cost 587.4 545.2 485.1 414.9 346.9 Other Expenses (Administrative Expenses) 61.0 43.4 43.3 33.0 23.9 EBITDA 673.9 598.4 414.5 416.0 391.4 EBITDA Margin (%) 20.8% 18.8% 14.2% 15.6% 17.9% Depreciation 261.0 253.6 216.2 159.1 144.5 EBIT 412.9 344.8 198.4 256.9 246.9 EBIT Margin (%) 12.7% 10.8% 6.8% 9.6% 11.3% Finance Cost 95.0 94.8 77.9 54.3 42.2 Exceptional Item Gain / (Loss) 0.0 0.0 0.5 0.0 0.0 Profit before Tax 317.9 249.9 121.0 202.5 204.7 Profit before Tax Margin (%) 9.8% 7.8% 4.2% 7.6% 9.4% Tax 81.0 67.0 31.9 36.4 48.5 Profit for the year from continuing operations 236.8 182.9 89.1 166.1 156.1 Profit After Tax Margin (%) 7.3% 5.7% 3.1% 6.2% 7.2% EPS from continuing operations 13.5 10.46 10.18 18.1 17.68
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Historical Balance Sheet Assets (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Non - Current Assets 2401 2339.9 2,005.2 1,612.9 1,209.2 Property Plant & Equipment 1707 1554.2 1,198.2 998.5 746.9 CWIP 23 15.1 23.6 38.4 35.0 Right-of-use assets 597 687.3 701.1 482.6 349.8 Investment Properties 0.8 0.8 0.8 0.9 0.9 Intangible assets 0.2 0.3 0.3 0.2 0.4 Financial Assets Investments 0.1 0.1 0.1 0.1 0.1 Others Financial Assets 35 44.3 45.8 64.4 37.8 Income tax assets (net) 10 28.3 14.8 1.7 9.4 Other non-current assets 29 9.5 20.5 26.2 29.0 Current Assets 204 245.8 208.8 278.9 171.1 Inventories 44 42.9 41.2 52.8 45.9 Financial Assets (i) Investments 0.0 0.0 15.0 0.0 (ii) Trade receivables 86 92.9 88.5 81.7 67.3 (iii) Cash and cash equivalents 15 53.1 18.3 11.6 14.0 (iv) Bank balances other than cash and cash equivalents 0.1 0.1 0.7 63.6 0.5 Other Financial Assets 19 11.3 13.1 10.3 10.8 Other Current Assets 40 45.5 47.1 43.8 32.7 Total Assets 2605 2585.7 2,214.0 1,891.7 1,380.3 Equity & Liabilities (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Total Equity 1142 1084.5 945.8 975.8 651.6 Share Capital 175 87.5 87.5 88.3 88.3 Other Equity 968 997.1 858.3 887.5 563.3 Non-Current Liabilities 1049 1108.4 881.7 609.7 463.5 Financial Liabilities (i) Borrowings 334 367.2 183 107 81.4 (ii) Lease Liabilities 546 603.7 584.5 415.2 298.1 (ii) Other Financial Liabilities 15 12.8 12.3 13.0 16.3 Provisions 71 46.9 34.7 28.1 29.1 Deferred Tax Liabilities 83 77.8 67 46.1 38.6 Current Liabilities 414 392.7 386.5 306.2 265.2 Financial Liabilities (i) Borrowings 122 82.2 96.2 71.8 62.1 (ii) Trade Payables 26 30.9 15.3 14.2 20.1 (iii) Lease Liability 153 174.9 172.5 125.5 95.0 (iv) Other Financial Liabilities 58 52.1 62.4 54.7 52.0 Other Current Liabilities 23 20.1 21.9 23.0 19.8 Current tax liabilities (net) 15 11.4 0.0 1.7 2.0 Provisions 17 21.0 18.1 15.2 14.2 Total Equity & Liabilities 2605 2585.7 2,214.0 1,891.7 1,380.3 32 *FY21 financials inclusive of other divisions; all other years reflect standalone figures
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Historical Cashflow Statement Particulars (in ₹ Cr.) FY26 FY25 FY24 FY23 FY22 Net Profit Before Tax 318 250.0 121.0 423.4 209.9 Adjustments for: Non -Cash Items / Other Investment or Financial Items 350 332.7 288.4 38.6 203.3 Operating profit before working capital changes 667 582.7 409.4 462.0 413.2 Changes in working capital 40 21.1 40.9 -58.0 15.7 Cash generated from Operations 707 603.8 450.3 403.9 428.9 Direct taxes paid (net of refund) -53 -49.0 26.4 85.6 58.1 Net Cash from Operating Activities 654 554.8 423.9 318.3 370.8 Net Cash from Investing Activities -294 -429.7 -243.3 -144.5 -180.1 Net Cash from Financing Activities -398 -90.1 -173.8 -170.9 -200.8 Net Decrease in Cash and Cash equivalents -38 34.9 6.8 3.0 -10.1 Add: Cash & Cash equivalents at the beginning of the period 53 18.3 11.5 8.5 18.7 Cash & Cash equivalents at the end of the period 15 53.1 18.3 11.5 8.5 33 *FY21 financials inclusive of other divisions; all other years reflect standalone figures
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For further discussions or queries, Please contact Sunil Nalavadi Chief Financial Officer +91 93425 59298 cfo@vrllogistics.com 34