VRL Logistics: Well Placed to Capitalize

Equity Bottom-Up

152 Views, 10 Jan 2022 11:45

EXECUTIVE SUMMARY

The management is optimistic on VRLL’s growth prospects over the next couple of years. A shift towards the organized sector would result in robust business opportunities
In the near term, stabilization of fuel prices and improved volumes will benefit this sector.
We expect VRLL to clock a revenue/EBITDA/PAT CAGR of ~19%/19%/45% over FY21- 24E. We reiterate our Buy rating, with a TP of INR540/share (35x FY24E EPS)

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