VRL Logistics FY26 PAT Rises 29% to ₹237 Crore

VRL Logistics reported a 29% YoY increase in FY26 PAT to ₹237 crore, driven by a 198 bps expansion in EBITDA margin to 20.8%.
Revenue from operations grew 2% YoY to ₹3,221 crore, with Q4 volumes increasing 3% YoY and QoQ after strategic discontinuation of low-margin contracts.
The company expanded its network by adding 110 branches in FY26 and incurred ₹298 crore in capex while maintaining a net debt-to-equity below 0.4x.
ICRA upgraded the company's long-term credit rating to A+ (positive) from A+ (stable), reflecting improved financial performance and stability.