Has a market value of Rs. 4,597.84 Cr., VRL Logistics Ltd. is a small company engaged in the transportation services industry. The company is India’s largest and best-known transportation and logistics provider. The company announced today that its board of directors has authorized the repurchase of up to 8,75,000 fully paid shares. ¥Max total 10 ¥61.25Cr.at the buyback price of ¥700. This repurchase offer offers a 34.90% premium over the current share price of the shares.
The company said in a stock exchange filing today:face value ¥10 (10 rupees only) Each (“Share” or “Share”) at a price representing up to 0.99% of the total number of shares in the paid-up share capital of the Company, ¥700/- (Rs. 700 only) to be paid in cash up to the maximum amount not to exceed per share (“repurchase price”) ¥61,25,00,000/- (Rs 61 crore 25 lak only) (“repurchase size”), equivalent to 9.44% of the total fully paid share capital and free reserves of the company according to the latest information . Audited financial statements of the company for the fiscal year ended March 31, 2022. ”
VRL Logistics has stated that a buyback has been proposed by the company’s shareholders on the record date, i.e. 10 February 2023.
For the third quarter of fiscal year 2023, the company reported the following net income: ¥against 773.33 Cr ¥683.29 Cr was recorded in the third quarter of 2022, marking a 13.3% year-on-year growth. The company posted profit before tax (PBT). ¥Compared to 65.90 Cr for the quarter ended December 2022 ¥It hit 77.73 Cr in the quarter ended December 2021, down 15.2% year-on-year.The company recorded a net profit ¥Compared to 49.20 Cr in Q3 FY2023 ¥60.48 Cr was reported in the same period last year, representing a loss of 18.7% year-on-year.
VRL Logistics said in a report:going concern on a slump sale basis for the total sale consideration of ¥Rs 230 crore subject to approval by the Board of Directors on 15th September 2022 and by the shareholders on 31st October 2022. ¥225 million rupees from the Buyer for the above sales consideration.Pre-tax income was ¥INR 176.9 million on this sale (net of expenses incurred by 31 December 2022) ¥11 lakh), which is not reflected in these financial results. ”
“During the last quarter, we entered into a business transfer agreement for the sale/transfer of our wind power business (Sale of Power) as a going concern on a slump sale basis for total consideration. ¥52.85 million rupees.Approvals from the relevant regulatory authorities for the sale transaction have been obtained on 10 January 2023, resulting in pre-tax income of ¥INR 10.34 million (net of expenses incurred by 31 December 2022) on this sale ¥6 lakh), which is not reflected in these financial results,” said VRL Logistics’ board of directors in a statement.
9MFY23 added 127 new branches. The company opened 68 new branches in Q1 FY2023, 29 new branches in Q2 FY23 and 30 new branches in Q3 FY23. The company added that it has expanded its branch coverage and expanded its existing branch area in key markets such as Pune, Ahmedabad, Raipur, Salem, Chennai, Kanpur, Delhi, Kolkata, Patna, Guwahati, Siliguri and Cuttack.
At NSE, VRL Logistics Limited shares are today ¥522.00, down 0.74% from the previous close ¥525.90.
Know Your Inner Investor
Do you have nerves of steel or are you insomniac with investing? Define your investment approach.
take a test
Catch all business news, market news, breaking news events and breaking news updates with Live Mint. Download The Mint News app for daily market updates.
Less
