Company Valuation: VRL Logistics Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 20,500 43,668 55,886 48,138 41,390 40,447 - -
Change - 113.01% 27.98% -13.86% -14.02% -2.28% - -
Enterprise Value (EV) 1 21,353 44,958 56,925 50,742 45,323 45,318 51,383 50,376
Change - 110.55% 26.62% -10.86% -10.68% -0.01% 0.16% -1.96%
P/E 46.5x 27.3x 17.3x 54.2x 22.6x 17.3x 16.4x 14.8x
PBR 3.43x 6.7x 5.73x 5.09x 3.82x 3.58x 3.15x 2.8x
PEG - 0x 0x -0.8x 0x 0.6x 1.2x 1.4x
Capitalization / Revenue 1.16x 1.82x 2.11x 1.67x 1.31x 1.27x 1.16x 1.07x
EV / Revenue 1.21x 1.88x 2.15x 1.76x 1.43x 1.41x 1.48x 1.34x
EV / EBITDA 8.63x 11.1x 14.2x 12.9x 7.91x 6.97x 7.58x 6.94x
EV / EBIT 24.3x 19x 23.5x 28.6x 14.2x 11.6x 12.4x 11.5x
EV / FCF 9.2x 25.3x -60.5x 36.5x 41.6x 12.7x 13.4x 12.1x
FCF Yield 10.9% 3.95% -1.65% 2.74% 2.4% 7.85% 7.46% 8.29%
Dividend per Share 2 2 4 2.5 - 5 5.82 6.775 7.55
Rate of return 1.72% 1.62% 0.79% - 2.11% 2.52% 2.93% 3.27%
EPS 2 2.495 9.06 18.27 5.08 10.46 13.54 14.08 15.58
Distribution rate 80.2% 44.2% 13.7% - 47.8% 46.9% 48.1% 48.4%
Net sales 1 17,629 23,937 26,485 28,886 31,609 32,211 34,794 37,637
EBITDA 1 2,475 4,042 4,017 3,934 5,730 6,502 6,780 7,256
EBIT 1 877 2,362 2,425 1,773 3,193 3,892 4,154 4,397
Net income 1 450.7 1,601 3,232 848.5 1,825 2,368 2,465 2,727
Net Debt 1 852.6 1,290 1,039 2,603 3,933 4,401 10,936 9,929
Reference price 2 116.02 247.15 316.30 275.18 236.60 231.21 231.21 231.21
Nbr of stocks (in thousands) 176,687 176,687 176,687 174,937 174,937 174,937 - -
Announcement Date 6/12/21 5/27/22 5/20/23 5/20/24 5/21/25 5/18/26 - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.62x1.6x8.02x2.52% 424M
26.07x8.47x16.39x0.77% 80.13B
22.32x7.18x14.78x2.11% 75.71B
46.82x3.09x18.64x-.--% 24.41B
31.77x1.4x22.64x1.3% 22.81B
43.2x1.75x11.29x1.05% 12.22B
51.02x - - - 11.69B
18.91x1.35x6.09x1.37% 10.4B
39.46x1.09x9.46x1.08% 6.37B
15.07x3.32x6.01x2.12% 5.22B
Average 31.33x 3.25x 12.59x 1.37% 24.94B
Weighted average by Cap. 29.29x 5.85x 15.57x 1.25%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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