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Presentation Q4 2020-21 VRL LOGISTICS LTD c ftaj ann€re . r.uir Noure Road HUESaLU, rao 029 h'nataka nare € mail headofi.e@vn oqisticrcoh Nallonar stek Ex.hanse .r rndi. rimhed Er.hahge Pra,a, Ptor No.c/r" c-Bto.L 8.ndE-Ku acompte&&ndE(E), sub: subnrssion o, Eahings presenration Ret t .jp cod€s IBSE: 539113, flsEJ wnh espect to abow cptioned subl.ct and in ac@dane wilh the errant provisionr of lhe srBt l-stn3 oh igdro4r and qequ.Fments)RABltarons oi*tosuF ?ots and dh.i.ppt..bte t {! for lime Llrh" n,.33 p'.snfron r orrhe conpany whtrh *outd a s be honed or the ft b5 te of ourcompany. we request you to kindly tate nde of the sare corporare ofli(e: GiriralArnexe cn.uit House Road HUBaA[t-5aoo29 Karnataka Phone 0336 221751 r Fax : 03162256612 e mai headoffke-dvrtooiti(.om CustonerCar€ | HUBBALLI r 0316 2lo7s0o ..mail : (ustom.r..re@vrttogBti(s,(om Webrite:www.vrll09isti.s.(om ClNr L602t0KAl933PLCoos247 GSITN (KAR) : r9AABCV3609Cr ZJ EARNINGS PRESENTATION VRL Financial Results - FY 2020-21 June 12, 2021 1 • 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 or correctness of the information or opinions contained herein. • This presentation may contain certain forward looking statements within the meaning of applicable securities law and regulations. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. Such forward-looking statements is 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 in light of its operating experience of recent years. Many factors could cause the actual results, performance or achievement of the Company 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 for 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 04 Company Overview 05 Key Differentiators 07 Vehicle Scrappage Policy 08 Financial Performance updates 11 Business Segment Overview 25 Key Points 26 Shareholding Pattern Company Strategy 28 Transporting 29 Branches and Distribution Network Beyond 31 Operational Capabilities Boundaries 33 Promoters & Management 36 Awards & Recognition 3 Listed on Exchanges Only “Owned Asset” organised player in Less than Truck load logistics business in India Pan-India surface logistics services provider with an established brand having one of the largest distribution networks in India Integrated hub-and-spoke operating model ensuring efficient consignment distribution Dedicated in-house maintenance facilities, inventory of spare parts and from own fuel Depository: stations In-house software technology capabilities Diversified customer base and revenue sources Track record of growth and robust financial position Ability to recruit and retain experienced and qualified Staff 4 We are LTL logistics service provider in the B2B space and its service dynamics are way different from that handed by typical B2C ecommerce operators, Express cargo players or LTL consignment by Railways, etc Lower operating costs and higher margins in GT business which contributes ~90% of Total Revenue Operating with owned fleet - specially in house designed - and customised for our operations Higher Payload compared to Hired vehicles leading to higher earnings per km Usage of Hired vehicles only on need basis – No payment for vendor margins 55% of GT vehicles fully depreciated - no additional depreciation costs 93% of GT vehicles are debt free – no associated finance costs 5 Scrappage Policy and its benefits to VRL Very low debt levels – insignificant finance costs Diversified customer base across sectors, - no dependency on specific sector or customers - Top 10 clients contribute ~3% of total GT revenue. Lowest Trade Receivables in the industry Highest Cash Profit margins & Cash EPS in the industry Moving towards new age Electric Vehicles Usage of environment friendly Bio-Diesel - lower pressure on margins in the current scenario of rising fuel prices. Our Bulk procurement policy driven by economies of scale 6 The vehicle scrappage policy is a government-initiated program to replace old vehicles from Indian roads. According to the new policy, commercial vehicles >15 years and passenger vehicles of >20 years will have to be mandatorily scrapped if they do not pass the fitness and emission tests from April 01, 2022 • Competitors outsourced transport charges will increase substantially (due to lesser availability of vehicles) — which October 1, 2021: Rules for fitness scrapping centres will be difficult to pass on, as most companies that will be released outsource vehicles operate on thin margin. April 1, 2022: Fitness testing for government and • VRL will be benefited from a rise in Freight Charges and public-sector undertaking (PSU) vehicles this will straightaway add to PAT. April 1, 2023: Fitness testing for heavy commercial • Outsourcing vehicles gradually become unsustainable. vehicles • The company will not book loss as vehicles older than 9 June 1, 2024: Fitness test rules to be rolled out for years are fully depreciated. other categories • Post scrappage, the useful spares an be used for the existing vehicles •Realisation of salvage value would be an additional income to VRL As on Mar 31,2021, VRL has 841 vehicles, with total capacity of 8407 Tons which are more than 15 years. This hardly constitutes around12% of our total capacity. 7 Financial Performance Update - Q4 & FY 2020-21 8 1) The Statement of Audited Financial Results ("Financial Results") for the quarter and year ended 31 March 2021, are prepared and published in accordance with Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended. These financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 12 June 2021. These financial results are prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013, ("the Act") read with the relevant Rules thereunder and other accounting principles generally accepted in India. 2) The figures for the quarters ended March 31 as reported in these Financial Results are the balancing figures between audited figures in respect of the full financial years ended March 31 and the published year to date figures up to the end of the third quarter of the relevant financial year. 3) The Segment Information for the year ended 31 March 2021, forms an integral part of the Financial Results. 4) The Board of Directors had approved a proposal to buy back a maximum of 20 lakh equity shares of the Company having a face value of Rs.10 each at a price not exceeding Rs.300 per share aggregating to Rs.6000 lakhs, from the open market through Stock Exchange mechanism in accordance with the provisions of the Act and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. Accordingly, the Company has, based on the above approval, bought back 20 lakh equity shares at an average rate of Rs.253.36 per equity share, resulting in total cash outflow of Rs.5187.46 lakhs (including transaction costs and buyback related expenses of Rs.120.21 lakhs). The Company has utilised an amount of Rs.4987.46 lakhs from the Securities Premium in accordance with the requirements of section 52 of the Act. The tax outgo on account of the buy-back amounts to Rs.1133.87 lakhs which has been adjusted from Securities Premium. The shares so bought back were fully extinguished by 24 March 2021. 5) The Company‘s operations were impacted during the first quarter of the financial year 2020-21, following the nationwide lockdown imposed by the Government of India during the first wave of COVID-19 pandemic. The Company has since resumed operations, taking all due care for the health and safety of its employees. The Company has thereafter evaluated the impact of this pandemic on its business operations, financial position and, based on its review of current indicators, there is no significant impact on the Company‘s assets, capital and financial resources and liquidity position for the year ended 31 March 2021. The profitability for the year was impacted during the first quarter of the financial year due to sub optimal operations on account of the lockdown. However, the assessment of impact of COVID-19 pendemic is a continuous process, given the uncertainties associated with its nature and duration. The financial implications are contingent on the various business parameters which may emerge from time to time and the Company will continue to closely monitor any material changes from those estimated as on the date of adoption of these Financial Results.
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