On Friday, September 12, 2025, Motilal Oswal (MOSL) maintained a buy rating on VRL Logistics with a target price of ₹350, implying a potential upside of nearly 29% from the current market price (CMP) of ₹271.95.
MOSL said the company is focusing on profitable growth, with recent GST cuts expected to support volumes in the near term. Realisations are projected to remain stable, with FY26 volume growth likely flat year-on-year, followed by 7–8% growth expected in FY27.
The brokerage highlighted that new branch additions will slow in FY26 compared to the earlier guidance of 80–100 annually, as the company shifts its strategy towards profitability-led expansion. MOSL also noted that the board approved employee salary revisions from August 2025, which may impact profitability by around 2–3% of revenue.
Despite muted volume growth, VRL Logistics aims to sustain high margins. MOSL projects revenue, EBITDA, and PAT to grow at a CAGR of 6%, 10%, and 19% respectively over FY25–27.
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