Blue Dart Express Ltd

Blue Dart Expres Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Blue Dart Express Ltd

₹ 6,305 0.70%
25 Apr - close price
bluedart.com BSE: 526612 NSE : BLUEDART
About

Blue Dart Express Limited, incorporated in 1983, 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 ₹ 14,962 Cr.
  • Current Price ₹ 6,305
  • High / Low ₹ 7,650 / 5,487
  • Stock P/E 52.9
  • Book Value ₹ 545
  • Dividend Yield 0.48 %
  • ROCE 36.6 %
  • ROE 31.9 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 20.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 33.8%
  • Company has been maintaining a healthy dividend payout of 31.4%

Cons

  • Stock is trading at 11.6 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

Sector: Logistics Industry: Couriers

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,035 966 865 1,124 1,255 1,166 1,293 1,325 1,337 1,217 1,238 1,324 1,383
862 792 781 925 1,051 948 1,103 1,163 1,186 1,088 1,124 1,194 1,249
Operating Profit 173 174 83 199 204 218 191 163 151 128 113 130 134
OPM % 17% 18% 10% 18% 16% 19% 15% 12% 11% 11% 9% 10% 10%
11 6 6 -30 8 9 10 12 14 14 16 15 23
Interest 8 8 7 6 5 6 5 4 4 4 5 5 5
Depreciation 55 52 43 43 43 39 40 42 41 44 44 46 47
Profit before tax 122 120 39 120 163 181 157 129 119 94 80 95 105
Tax % 23% 26% 25% 25% 25% 25% 25% 29% 27% 26% 25% 25% 22%
94 89 29 89 122 135 117 92 87 70 60 71 82
EPS in Rs 39.52 37.54 12.38 37.71 51.49 57.07 49.38 38.78 36.64 29.64 25.18 30.04 34.37
Raw PDF
Upcoming result date: 2 May 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,493 2,167 1,933 2,268 2,552 2,681 2,791 3,165 3,166 3,280 4,409 5,172 5,162
1,313 1,889 1,762 2,045 2,221 2,416 2,531 2,992 2,978 2,903 3,705 4,540 4,655
Operating Profit 180 277 171 224 331 264 260 174 188 377 704 632 506
OPM % 12% 13% 9% 10% 13% 10% 9% 5% 6% 11% 16% 12% 10%
21 29 44 24 31 28 23 18 -50 -13 -7 51 68
Interest 0 0 0 11 31 31 26 15 32 32 24 17 18
Depreciation 22 34 27 44 40 44 45 48 153 201 169 167 181
Profit before tax 179 271 187 194 290 217 212 128 -47 131 504 499 375
Tax % 32% 30% 34% 34% 34% 36% 33% 32% 19% 27% 25% 27%
122 189 124 127 190 140 142 88 -38 96 376 366 283
EPS in Rs 51.52 79.51 52.43 53.46 80.07 58.82 59.89 36.92 -16.14 40.59 158.65 154.43 119.23
Dividend Payout % 4% 89% 96% 300% 38% 26% 21% 34% 0% 37% 38% 19%
Compounded Sales Growth
10 Years: 9%
5 Years: 13%
3 Years: 18%
TTM: 1%
Compounded Profit Growth
10 Years: 6%
5 Years: 20%
3 Years: 139%
TTM: -34%
Stock Price CAGR
10 Years: 7%
5 Years: 15%
3 Years: 7%
1 Year: 5%
Return on Equity
10 Years: 27%
5 Years: 26%
3 Years: 34%
Last Year: 32%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 634 626 612 273 447 498 597 641 560 655 931 1,237 1,270
0 0 0 332 332 332 166 146 75 431 248 260 268
179 390 295 345 351 398 439 559 903 726 830 813 892
Total Liabilities 837 1,040 931 974 1,154 1,252 1,226 1,370 1,561 1,837 2,034 2,333 2,454
233 220 228 215 243 234 219 247 562 494 432 483 526
CWIP 3 12 8 25 21 33 47 46 4 3 19 26 2
Investments 71 20 20 20 73 144 144 144 144 294 351 315 258
530 788 675 714 817 840 816 933 851 1,045 1,232 1,510 1,668
Total Assets 837 1,040 931 974 1,154 1,252 1,226 1,370 1,561 1,837 2,034 2,333 2,454

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
105 182 120 153 271 143 210 157 94 449 583 319
-99 22 43 32 -61 -58 -5 -46 -39 -394 -112 -217
-3 -6 -294 -126 -89 -117 -235 -71 -222 -70 -371 -190
Net Cash Flow 3 199 -131 60 121 -32 -30 40 -168 -15 100 -88

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 46 38 50 47 42 49 55 56 60 57 48 45
Inventory Days
Days Payable
Cash Conversion Cycle 46 38 50 47 42 49 55 56 60 57 48 45
Working Capital Days 16 -13 13 8 10 13 8 -0 -16 -17 -17 -6
ROCE % 30% 43% 29% 32% 45% 30% 29% 18% 7% 21% 48% 37%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
2.47% 3.25% 3.21% 3.25% 3.50% 5.13% 5.08% 4.85% 4.24% 4.73% 5.29% 5.40%
10.18% 9.63% 9.39% 9.51% 9.59% 7.90% 8.45% 9.86% 11.10% 11.76% 11.76% 11.73%
12.35% 12.12% 12.40% 12.24% 11.91% 11.97% 11.45% 10.29% 9.64% 8.50% 7.94% 7.88%
No. of Shareholders 33,54832,45030,60829,76829,44934,40436,62836,65636,84035,01929,29434,031

* 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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