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Dolat Capital Report
VRL Logistics Ltd. reported a weak topline in Q1 FY21, as the lockdowns and other headwinds put pressure on both goods and bus segments. Improvement seen in July on operational front.
Management highlighted the following:
- Targets nominal profit in FY21E, profit after tax positive in July
- No major capex for FY21
- Price hikes taken to offset volume fall
- Focus on client addition
- Cost control measures taken like pay cuts
- Improvement in availability of workers and drivers
- Asked for rent waiver for April
- Utilisation too has improved from July
- Commodities like agri, food grains, pharma saw an uptake in volumes while textile witnessed a decline
- Geography-wise bookings mix has not changed much -- South largest with 40%. North and West saw growth.
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