VRL Logistics plans to expand its fleet size to approximately 7,200 trucks by the next financial year, following its latest order for 1,560 trucks from Ashok Leyland. Currently, it is operating 5,700 trucks.
Vijay Sankeshwar, the Managing Director of VRL Logistics, also expressed his ambition to grow the company by 25–30 per cent in FY24. “We posted an annual turnover of ₹2,410.5 crore in FY22 and around ₹400 crore would be added to this for our turnover in FY23.”
The firm said that it will be bringing in a range of trucks, including 50 30-tonner trailer horses, 1,200 10-wheelers, and 20-tonner vehicles, as well as about 400 trailers with carrying capacity.
VRL Logistics has budgeted INR 697 crore in total capital expenditures for the development and modernization of its fleet in FY24. According to VRL, the capex covers the cost of the chassis at list pricing, as well as the costs of bodywork, registration, insurance, and a buffer for unforeseen circumstances.
The company will discard between 1,000 and 1,100 of its old vehicles this year while also adding new ones. According to VRL, the company must replace its older cars ito comply with the Centre’s continuing vehicle scrapping program. With Tata and Reliance, the company had placed an order for 1,650 vehicles 14 months ago.
