Corporate Office :

Giriraj Annexe Circuit House RoadHUBBALII - 580029 Karnataka StatePhone : 0836 2237511Fax : 0836 2256612e-mail : headoffice@vrllogistics.com

To,

BSE timitedPhiroze Jeejeebhoy TowersDalal StreetMumbai- 400001

National Stock Exchange of lndia timitedExchange Plaza, Plot No.C/1, G-BloclgBandra - Kurla Complex, Bandra (E),

Mumbai - 400 051

Dear Sir / Madam,

Sub: Outcome ol Bodrd Meeting held on 08h Februdry 2O2O

Ref: Scrip Codes (BSE: 539118, NSE: VRttOG)

Pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015, Board of Directors at their meeting held today, inter olia, have transacted thefollowing items:

a) Considered and approved the reviewed un-audited financial results of the Company for the

quarter and nine months ended 31't December 2019 and the report of the auditors thereon;

b) Declared the second interim dividend for the Financial year 2019-20 of Rs. 3.00/- per equity

share and fixed 18th February 2020 as the Record date for the purpose of interim dividend. The

said Dividend would be paid on or before 26th February 2020.

c) Re-appointment of Mr. shankarasa Ladwa as an lndependent Director w.e.f. 19.02.2020 whose

initial term of appointment concludes on !8.02.2020, subject to approval of shareholders at the

ensuing general meeting.

d) Re-appointment of Dr. Anand Pandurangi as an lndependent Director w.e.f. 19.02.2020 whose

initial term of appointment concludes on 18.02.2020, subject to approval of shareholders at the

ensuing general meeting.

We enclose herewith a copy of the reviewed un-audited financial results alongwith the LimitedReview Report furnished by the Auditors of the company for your reference and records.

/.58$

Corporate Office: Giriraj Annexe Circuit House Road HUBBALLI - 580 Karnata kaPh one : 0836 2237511 Fax : 0836 2256612 e-mail : headoffice@vrllogistics.com

customer care : HUBBALLI @ 0836 - 2307800 e-mail : customercare@vrllogistics.comWebsite : www.vrllogistics.com CIN: 16021OKA1983pLC005247 GSTTN (KAR):2gAAeCVsOOgCtZJ

VRL LOGISTIGS LTD

The Board Meeting commenced at 2.30 p.m. and concluded at 3.45 p.m. The above information willalso be hosted on the company's website www.vrlEroup. in. we request you to kindly take note ofthe same.

Thanking you,

Yours fa

FoT VRL LIMITED Gls

t:

ANIRUDDHA PHADNAVIS

COMPANY SECRETARY AND COMPTIANCE OFFICER/.sBo

Date:08.02.2020Place: Hubballi

PROFILE OF MR. SHANKARASA TADWA

PROFITE OF DR. ANAND PANDURANGI

An lndependent Director of the Company, he is a consulting Psychiatrist in Dharwad and holds abachelors degree in medicine and surgery from the Karnataka University, Dharwad. He also has aDiploma in Psychological Medicine from the Karnatak University, Dharwad. He has been awarded a

certificate of Life Fellowship by the Indian Psychiatric Society on January 1, 1999. He is the recipient

corporate OffiGe :Giriraj Annexe Circuit House RoadHUBBALLI - 580029 Karnataka StatePhone : 0836 2237511Fax : 0836 2256612e-mail : headoffice@vrllogistics.com

jyotsava Award" by the Governmentof several awards and recognitions including the "Karnataof Karnataka.

,.58t

Corporate Office: Giriraj Annexe Circuit House Road HUBBAILI -580029 KarnatakaPhone:0836 2237511 Fax :08362256612 e-mail : headoffice@vrllog istics.com

Customer Care : HUBBALLI @ 0836 - 2307800 e-mail : customercare@yrllogistics.GomWebsite : wwuvrllogistics.com CIN : 16021oKA1 983PLCO05247 GSTIN (KARI :29AABCV36O9C1 ZJ

VRL LOGISTICS LTD

An lndependent Director of the Company, he is fellow member of the lnstitute of CharteredAccountants of India since June 1993. He holds a Certificate of practice and pursuing his CAprofession in Bengaluru City. He has vast experience in taxation matters, auditinB, accounts andCorporate Laws. He is also the President of Sri Somavamsha Sahasrarjuna Kshatriya Samaj (R) andalso Team Leader of the legal & grievances sub-committee of Akhila Bharatiya SaomavanshiyaSahasrarjuna Kshatriya Samaj.

Walker Chandiok&Co LLP

It l*.r Chandiok & Co LLP

SB Marc. E phinsrone (w)

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Indep€n dent Auditor's R€view Report on t naudited euarterty Fina n ciat Resu tts and year to DateResults of the Company pursuant to Regutation 33 ot the SEBI (Listins Obtigarions andDisclosure Requir€ments) Reg ulations, 2015 (as amended)

To the Board of Directors ofVRL Logistics Limited

1. We have reviewed the accompanying statement of unaudited financtat resufis (,the Statement,) ofVRL Logistics Limlted (lhe Company') for the quarter ended 31 Decen-jber 2019 and rhe year lodate results for thc poriod 01 Aprll 2019 to 31 December 2019, boing subm tied by the Cotrrpanypursuanl to the requlremenls of Regutation 33 of the SEBt (Listing Obtigalions and DisctosureRequirements) Regulat oas, 2015 (as amefded), inctudinq retevant circu ars issued bv the SEAtorr t,me to lirne.

The Statement, whlch ls the respons bitity of the Company,s lvtanagement and approved by theCompany's Board of Directors, has been prepared in accordance wilh the recogniton-andmeasurernent princ p es laid dowf in tndian AccounUng Slandard 34, tnlerim Financia Reporting('lnd AS 34'), prescribed under Section 133 ofrhe Companies Acr 20t3 (the Acl), and as per lhepreseftalion requirements oi SEBi Circutar CtR/CFD/FAC/62/2016 daled S July 2016, (hereinafterreferred to as lhe SEBI Circular), ard otheraccounting principtes genera y ac;epted i; tndia. Ourresponsibility is lo express a conctusion on the Slatement based on our review.

We conducied our review of thc Statemert in accordance wlh the Standard on RevtewE.gagements (SRE) 2410 Rcview of flerim Einanciat tnformaton performed by the lfdependentAuditor oilhe Entity issued bytho tnslitute ofChartered Acco!nlants of tnOia. A review oitntenmfnancialinformation consists of nraki.g inquiries, primar y of persons responsibte fornnanciatandaccount ng matters, and applying afa yticat and other rev ew procedures. A review s substantialyless in scopethan af audit conducted in accodancewith the Standards on Auditing specified underSecton 143(10) oflheAct and consequeniy does nol efabte us to obrain asluiance that wewould become aware oi a lsgnificant matters |rat mtghl be rdentfied in an aud t. Accordingty wedo not express an audit opinion.

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Walker Chandiok&Co LLP

VRL Logisti.s Limiiedlndepend€nt Arditor,s Review on Unaudited Quartedy Financiat Resulrs and Year to Date Resuttsof the company pursuanrro n 33 olthe SEBI {Listing Obtigalion3 and Disclosure Requirementsi201s (as

:::ed oi gui.review conducied as above. nothing has come lo our attenlion rhat causes !s 10oelele lhal rhe aLcompary:1g Srarerrent p,epa,ed n accorddl.e wiin lhe re(oqnrt,on andmeasuremenl principtes tard down ,n lnd AS jZp". $," p,."",i"ro, ,e!,;#i;;;i# #ui^ lll sc-ribed, under sechon 133 or the Act, and asacceptednndahas;;id;;";d,',;i;#J;:"ffi 1;,.il;i::::HJJT jJ[:fj:: j;-",,iTr:reqLrirements of Regu atron 33 of the sEBt /iRegulalols. 20 5 Ias rrerdeo, .",ro,no ,n.'"t'"9

obl'gdliols and Drs''osule ReoLtre.renlsrconiarls any rrale rat m,s"ri"rn""r

- """ " " o ranrer n whir I rs lo be drsc'osed or lhat rl

ForWalker Chandiok & Co LLpChartered AccouftanlsFirm Registration No: 001076N/N500013

Bharat Sh€tty

l\,4embership No. 106815

UDIN No:10:l o 68 t5-A &R./1Al<6 e8l

Date: 08 Febrlary 2020

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l) The financial results ee prepared in accordance with the companics (lndian Accounting Srandards) Rules,2015(lnd AS) (amended) as prescribed under S€ction 133 of the Companies Acr, 2013 and other recognised accountingpractices and policies, as applicable

2) The findci.l results wcrc revicwed by thc Audit Committce and were therearrer approved by the Bodd ofDirectors of the Company at their respective mcctings held on 8 February 2020. 'fhcre arc no qualjfi.ations in thelm,red reqes repod rssucd ror rhe sard pFr rod

3) The Company has elected to exercise the oprion pcrmirted under Secrion 115BAA of thc lncomc Td Act, 1961 asintroduccd by tbc]dation Laws (Amendmetrl)

^ct,2019. ccodilsly, thc Company had recoSmsed provision for

income tu for quarter and half ycar cnded 30 September 2019 a.d re measured its deferrcd t UabiUries/assetsbasis the rate prescibed in thc afolesaid section. 'lhc rcmcasurement of accuhulated deferred tu liabllities (net)has resulted in reversal of deferred td expcnses (ret) oI a I,289.82 lakhs.

4) Interim dividend of t 4 per cquity share of face value a 10 each was approved at thc mecring of rhe Board ofDirectors oflhe Company held on 9 Novcmbcr 2019.

5) The Bodd or Directors of the company at its meeting held on 8 Febqary 2O2O has decleed second jnterimdividcnd of1 3 pcr equity sharc of facc valuc a 10 each.

6) The Compahy has adopted Ind S tt6, Leases, effective 1 pnl 2019, using moditied retrospective approach,wherein comparative ihformation are nor required to bc lcstared. rhe Company has discounred Lease paJments usinsthc in.rcmcntal borrowing rate as at I April 2019 for measuring lease liabiliries at t 2?,047. 16 Iakhs and accordinglyrecognised riSht or.use asscts at 124,623.s3 lakhs by adjusring retained carninss by I r,9rr.2o lalhs (nct of ta),including adju6tments for prcpaid/accrued rcnt and lcasc equalisatioh Eserve, as at the aJoresaid dare. rn rheStatehent of Profit and Loss for the currenl period, cxpenses in thc nature of operating leases are recognised asamortisation of right of-use assets and linancc costs, as compared to lcase rcnt in prcvious pcriods, and to thisextent, .esults ior thc current period are not compaable.

The impacl of adoptinB Ind AS 116 on rhe financiat rcsutts for the nlne honths ended 3l December ZOrg is as

The impact of adoptinA Ind AS 116 on the lnucial rcsults for the quaner ended 31 Decembcr 2Or9 is as foltows

ended 31.12.2O19 37.12.2019

116)Irru,rht, handlinA and scNi.ins.osl I I3,02L01 107.152. r0 5,868.91

797.44 2,622.63 (1,825.59)Depreciation and amoltisation cxpcnsc fi.443.94)

10,544.43 to,t04 2l (rr0.6214,797 59 lt129 t,\)

37,\2.2079 31.t2.2019

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Freieht, handlins a.d seNi.nre cosl 39,.10 r.oL274 20

37,344.21 2,013.44864.01 1593.81)

Depreciation and amortisation expense 2,577.43 .1,080 63 11,503.6013,344.32 3.261.35 {83.97t2,644.26 2,579.78 (64 48)

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