VRL Logistics - Price Hike Supports Margins; Branch Expansion To Drive Volume Growth: Motilal Oswal

The brokerage reiterates its Buy rating on VRL Logistics with a target price of Rs 670 (based on 28x Sep’26 earnings per share).

VRL Logistics Ltd.'s transport fleet standing in a line. (Source: Company website)

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Motilal Oswal Report

VRL Logistics Ltd. expects the focus on branch expansion to continue, which will contribute to its volume growth through market share gains. Sustaining the margin profile would be a key monitorables going forward.

We expect VRL Logistics to clock a volume/revenue/Ebitda/profit after tax compound annual growth rate of 7%/13%/ 15%/36% over FY24-27. We reiterate our Buy rating with a target price of Rs 670 (based on 28x Sep’26 earnings per share).

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Motilal Oswal VRL Logistics Company Update.pdf
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