Fundamental

VRL LOGISTICS LTD 

Ticker : 539118
BUY: Rs292.70
Target: Rs325 

VRL Logistics is engaged in providing a safe and reliable delivery network in the field of parcel service. It has spread its operations to courier service, express cargo and air chartering to meet the growing demand of the burgeoning customer base. Recently, ICRA upgraded the long term rating of the company from ICRA A to ICRA A plus. The outlook on the long term rating is 'stable'. Also, on the financial front, the company posted net sales of Rs 512.92 crore in Q4Fy19, up 4 per cent from Rs 489.174 crore in the same quarter of the previous year. The PBIDT grew by 35 per cent YoY in Q4FY19 to Rs 60.01 crore from Rs 44.40 crore. The PAT expanded over 70 per cent YoY to Rs 20.51 crore in Q4Fy19 as against Rs 12.02 crore. We recommend a BUY considering the above mentioned factors.