VRL Logistics : Sale or disposal of unit/ division/subsidiary

Regd. & Admn. Office :
Bengaluru Road Varur
HUBBALLI - 581 207 Karnataka State
Phone : [phone]
Fax | 0836 2237614
e-mail :[e-mail]
BSE timit€d	NationalStock Exchange of lndla Llmlted
PhirozeJeeieebhoy Tow€rs	Exchange Plaza, Plot No.c/l, c-Blocl6
Dalal Street	Bandra - Kurla Complex, Bandra (E),
Mumbai- 400001	Mumbai- 400 051
script Code: 539118	Script Code: VRLLOG
Dear Sir / Madam,

sub:Disclosure under Clause 30 of the SEB| (Listing obligations & Disclosure Requlrements) Regulations, 2015 relating to Trarsfer of Wlnd Power undertaklng of the Company as a golng concern on a slump sale basls to Ratna Cements Prlvate Limited(Yadawad)

This is to inform that the Company has signed Memorandum of Understanding (MoU) on lSthApril 2022 with Ratna Cements (Yadwad) Limited(Rcl) for transfer of the Wind Power (Sale of Power) undertaking along with all underlying assets and liabilities as a going concern on a slump sale basis.

The MOU is being entered in order to initiate necessary applications to obtain the requisite transfer approvals from various Government Departments, Government agencles and enable financial arrangements from Banks /Financial lnstitutions for the Buyer. The Buyer has placed a token advance of Rs.2 crores prior to signing of this MoU and has been provided a time of upto 31" July 2022 to achieve the completion of transaction with all required approvals along with the remittanceof balance sales consideration.

The Wind Power Undertaking of the Company initially comprised of 34 wind turbine generators with capacity of 42.5 MW. As of date, the said projed comprises of 32 wind turbine generators with a capacity of 40 MW. These WTG'S are installed at Kappatgudda, District Gada& Karnataka State.

The management of the Company is looking to dispose offthis undertaklng considering the limited balance life of the said machines as also to focus on its Goods Transport business which is the major business segment ofthe Company,

Co.porate Ofli.e: Giriraj Annexe Circuit House Road HUBBALLI - 580 029 Karnataka

Phone: [phone] Fax I 0836 2256612 e-mail : headoffice@vrllogistics.(om

Cultomer C.re : HUBBALLI e OE36 - 2307800 .-mail : (ustomercaie@vrllogistl(s.com website: www.vrllogi5ti(s.<> crN: 16021 oKA 1983 PLCOO5247 GSTI (KAn): 29AABCV3609C1ZJ

Regd. & Admn. offi<> : Bengaluru Road Varur

HUBBALLI - sat 2o7 Karnataka State Phone : [phone]

Fax | 0836 2237614 ' e-mail :[e-mail]

Related disclosures are as under -

The amount and percentage of the Revenue:Windmill division recorded revenue of turnover or revenue andnet worth Rs.1,757.44 Lakhs (0.99% ofthe standalone contributed by such unit or division of revenue ofthe company, with an EBIT of the listed entity during the last Rs.80.83 Lakhs).

financialyear ended on 31.03.2021.

Net wonh: The Net Worth ofthe Sale of Power segment as of March 31, 2021was Rs.4195.48 lakhs

The revenue ofthe said segment forthe nine month period ended December 31, 2021were Rs.1,622.26 lakhs with an EBIT of Rs.307.99 lakhs and the corresponding net worth ofthe segment was Rs.3,641.35 lakhs as ofthe said date.

Date on which the MOU for transfer 18th April, 2022 has been entered into

The expected date of completion of 3lsJuly 2022 (Upon signing of Business Transfersale/disposal

Agreement)

Consideration received / expected The agreed upon consideration for the said

from such sale/disposal

Slump Sale ls Rs. 4,800 lakhs (Rupees four thousand eisht hundred lakhs)

Brief details of buyers and whether any Ratna Cements Limited(Yadawad),is a publlc of the buyers belonging to the limited company engaged in manufacturing of promoters/promoters group/ group of clinker cement having its registered office at

companies. lf yet details thereofPost: Yadawad, Taluk: Gokak, District: Belgaum.

The said entity does not belong and nor is related to the Promoters/ Promoter group.

whether the transaction would fall Not Applicable within related party transactions? lf yes, whether same is done at "arm's length

Corporate Offi<> i Giriraj Annexe Circuit House Road HUBBALLI - 580 029 Karnataka

Phone: [phone] Fax , Oa36 2256612 e-mail :[e-mail]

Custom.r Car. : HUBBALLI O Oa36 - 2307800 €-mail :[e-mail]3lte :www.vrlloglstlca.com CIN : L602loKA 1983 PLCOO5247 GSTIN (KAR): 29AABCV36O9C1ZJ

Regd. & Admn. ofti.e : Bengaluru Road Varur

HUBBALLI - 581 2o7 Karnataka State

Phone : [phone]

Fax | 0A36 2237614 e-mail :varurho@vrllogistics..om

Additionally, in case ofa slump sale,	The Buyer has been provided a time of upto July
indicative disclosures provided for	37,2022 to achieve financial closure and remit
amalgamation/merger, shall be	the balance sale consideration.
disclosed by the listed entity with
respect to such slump sale.

This is for the information ofshareholders and the publlc at large.

You are ed to kindly take note ofthe same,

For vRL

CS UMMD

ANIRUDDHA PHADNAVIS

COMPANY SECRETARY & COMPI.IANCE OFFICER

Place: Hubballi

Oate! 19,04.2022

Coiporate Offlce: Glriraj Annexe Circuit House Road HUBBALLI - 580 029 Karnataka

Phone: [phone] Fax | 0836 2256612 e-mail :[e-mail]

Customer Care : HUBBALLI @ 0836 - 2307800 e-mall :[e-mail] ! werw.vrlloglstl(i.com CIN: L602l0KA1 983 PLCOO5247 GSTI (KARI: 29AABCV36O9C1 ZJ