Blue Dart Express Ltd

₹ 5,682 0.34%

08 May - close price

About

Blue Dart Express Limited, incorporated in 1988, is involved in transportation and door-to-door distribution of time-sensitive shipments, through an integrated ground and air transportation network. The company is regarded as South Asia’s leading courier and integrated air express package distribution company. ^[1]

Key Points

History
In FY2005, DHL Express Singapore Pte Ltd. (a 100% subsidiary of Deutsche Post AG, or DP DHL) acquired an 81% stake in BDEL from its erstwhile promoters - Mr. Clyde Cooper, Mr. Tushar Jani, and Mr. Khushroo Dubash, and other shareholders. In November 2012, to meet the SEBI’s requirements for promoter holding in public listed companies, DP DHL reduced its shareholding to 75% through an offer for sale (OFS). ^[1]

Website BSE NSE

Market Cap ₹ 13,483 Cr.
Current Price ₹ 5,682
High / Low ₹ 7,225 / 4,683
Stock P/E 49.4
Book Value ₹ 772
Dividend Yield 0.44 %
ROCE 18.4 %
ROE 15.8 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 24.6%

Cons

Stock is trading at 7.36 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Services Services Transport Services Logistics Solution Provider

Part of BSE 500 Nifty 500 Nifty500 Shariah BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market BSE Services Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE 1000 Nifty India Infrastructure & Logistics

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	1,217	1,238	1,324	1,383	1,323	1,343	1,448	1,512	1,417	1,442	1,549	1,616	1,533
	1,088	1,124	1,194	1,249	1,183	1,233	1,327	1,365	1,299	1,342	1,392	1,426	1,409
Operating Profit	128	113	130	134	139	109	122	146	118	100	157	190	125
OPM %	11%	9%	10%	10%	11%	8%	8%	10%	8%	7%	10%	12%	8%
	14	16	15	23	18	19	19	20	21	21	19	-25	18
Interest	4	5	5	5	5	7	7	7	8	7	11	13	12
Depreciation	44	44	46	47	50	52	52	52	53	50	59	71	66
Profit before tax	94	80	95	105	102	69	82	106	78	63	107	81	65
Tax %	26%	25%	25%	22%	26%	26%	26%	26%	32%	26%	25%	14%	33%
	70	60	71	82	76	52	61	79	53	47	80	70	43
EPS in Rs	29.64	25.18	30.04	34.37	32.05	21.72	25.61	33.34	22.43	19.78	33.50	29.52	18.21
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,268	2,552	2,681	2,791	3,165	3,166	3,280	4,409	5,172	5,268	5,720	6,141
	2,045	2,221	2,416	2,531	2,992	2,978	2,903	3,705	4,540	4,750	5,221	5,569
Operating Profit	224	331	264	260	174	188	377	704	632	517	499	572
OPM %	10%	13%	10%	9%	5%	6%	11%	16%	12%	10%	9%	9%
	24	31	28	23	18	-50	-13	-7	51	72	75	33
Interest	11	31	31	26	15	32	32	24	17	19	29	42
Depreciation	44	40	44	45	48	153	201	169	167	187	209	247
Profit before tax	194	290	217	212	128	-47	131	504	499	383	336	316
Tax %	34%	34%	36%	33%	32%	-19%	27%	25%	27%	25%	27%	24%
	127	190	140	142	88	-38	96	376	366	289	245	240
EPS in Rs	53.46	80.07	58.82	59.89	36.92	-16.14	40.59	158.65	154.43	121.65	103.10	101.02
Dividend Payout %	300%	38%	26%	21%	34%	0%	37%	38%	19%	25%	24%	25%

Compounded Sales Growth
10 Years:	9%
5 Years:	13%
3 Years:	6%
TTM:	7%

Compounded Profit Growth
10 Years:	4%
5 Years:	19%
3 Years:	-8%
TTM:	19%

Stock Price CAGR
10 Years:	1%
5 Years:	1%
3 Years:	-1%
1 Year:	-15%

Return on Equity
10 Years:	21%
5 Years:	23%
3 Years:	17%
Last Year:	16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	24	24	24	24	24	24	24	24	24	24	24	24
Reserves	273	447	498	597	641	560	655	931	1,237	1,415	1,600	1,807
	332	332	332	166	146	75	431	248	260	279	348	579
	345	351	398	439	559	903	726	830	813	857	1,060	1,107
Total Liabilities	974	1,154	1,252	1,226	1,370	1,561	1,837	2,034	2,333	2,575	3,031	3,517
	215	243	234	219	247	562	494	432	483	541	612	879
CWIP	25	21	33	47	46	4	3	19	26	2	3	0
Investments	20	73	144	144	144	144	294	351	315	451	530	557
	714	817	840	816	933	851	1,045	1,232	1,510	1,580	1,886	2,081
Total Assets	974	1,154	1,252	1,226	1,370	1,561	1,837	2,034	2,333	2,575	3,031	3,517

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	153	271	143	210	157	94	449	583	319	446	489
	32	-61	-58	-5	-46	-39	-394	-112	-217	-133	-267
	-126	-89	-117	-235	-71	-222	-70	-371	-190	-242	-222
Net Cash Flow	60	121	-32	-30	40	-168	-15	100	-88	71	-0
Free Cash Flow	94	210	96	167	81	38	423	531	227	370	416
CFO/OP	101%	111%	85%	108%	128%	79%	127%	101%	72%	99%	115%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	47	42	49	55	56	60	57	48	45	46	50	54
Inventory Days
Days Payable
Cash Conversion Cycle	47	42	49	55	56	60	57	48	45	46	50	54
Working Capital Days	8	10	-9	-4	-9	-16	-41	-25	-14	-13	-13	16
ROCE %	32%	45%	30%	29%	18%	7%	21%	48%	37%	24%	19%	18%

Insights

In beta

Mar 2015

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Number of Shipments
Lakhs

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						xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx

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Tonnage
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Aircraft Fleet size
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Location Coverage (Pin Codes)
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Vehicle Fleet size
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Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	4.24%	4.73%	5.29%	5.40%	5.37%	5.46%	5.98%	5.46%	5.53%	5.04%	4.14%	3.42%
	11.10%	11.76%	11.76%	11.73%	12.65%	12.94%	12.49%	13.04%	13.04%	13.13%	13.62%	14.54%
	9.64%	8.50%	7.94%	7.88%	6.98%	6.60%	6.50%	6.49%	6.44%	6.82%	7.26%	7.04%
No. of Shareholders	36,840	35,019	29,294	34,031	29,994	30,301	30,925	29,904	30,906	34,123	37,308	35,375

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
	6.51%	6.68%	4.50%	2.68%	1.97%	3.25%	4.85%	5.40%	5.46%	3.42%
	6.65%	5.90%	5.22%	10.87%	11.31%	9.51%	9.86%	11.73%	13.04%	14.54%
	11.84%	12.42%	15.28%	11.45%	11.72%	12.24%	10.29%	7.88%	6.49%	7.04%
No. of Shareholders	19,308	16,787	17,042	16,867	22,222	29,768	36,656	34,031	29,904	35,375

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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