Blue Dart Express Ltd
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]
- Market Cap ₹ 12,573 Cr.
- Current Price ₹ 5,298
- High / Low ₹ 7,225 / 5,190
- Stock P/E 47.2
- Book Value ₹ 688
- Dividend Yield 0.47 %
- ROCE 16.3 %
- ROE 16.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.5%
- Company has been maintaining a healthy dividend payout of 20.8%
- Promoter holding has increased by 75.0% over last quarter.
Cons
- Stock is trading at 7.71 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 BSE SmallCap BSE Allcap BSE 250 SmallCap Index
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,937 | 2,272 | 2,563 | 2,690 | 2,799 | 3,174 | 3,175 | 3,288 | 4,410 | 5,172 | 5,268 | 5,720 | 5,920 | |
| 1,764 | 2,048 | 2,157 | 2,348 | 2,447 | 2,888 | 2,701 | 2,602 | 3,410 | 4,235 | 4,415 | 4,844 | 5,020 | |
| Operating Profit | 172 | 224 | 406 | 342 | 352 | 286 | 475 | 686 | 1,000 | 938 | 853 | 876 | 900 |
| OPM % | 9% | 10% | 16% | 13% | 13% | 9% | 15% | 21% | 23% | 18% | 16% | 15% | 15% |
| 39 | 25 | 35 | 26 | 20 | 19 | -49 | -6 | -5 | 32 | 51 | 38 | 44 | |
| Interest | 0 | 11 | 43 | 45 | 40 | 43 | 117 | 111 | 87 | 67 | 78 | 82 | 81 |
| Depreciation | 27 | 44 | 102 | 104 | 114 | 128 | 347 | 430 | 395 | 394 | 433 | 485 | 497 |
| Profit before tax | 184 | 194 | 296 | 219 | 217 | 134 | -39 | 140 | 512 | 508 | 393 | 347 | 366 |
| Tax % | 34% | 34% | 33% | 36% | 33% | 33% | 7% | 27% | 25% | 27% | 23% | 27% | |
| 123 | 129 | 197 | 140 | 145 | 90 | -42 | 102 | 382 | 371 | 301 | 252 | 266 | |
| EPS in Rs | 51.67 | 54.51 | 82.95 | 58.93 | 60.99 | 37.83 | -17.64 | 42.91 | 161.08 | 156.16 | 126.86 | 106.38 | 112.26 |
| Dividend Payout % | 29% | 294% | 36% | 25% | 21% | 33% | 0% | 35% | 37% | 19% | 20% | 24% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 12% |
| 3 Years: | 9% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 46% |
| 3 Years: | -16% |
| TTM: | -6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 4% |
| 3 Years: | -8% |
| 1 Year: | -19% |
| Return on Equity | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 28% |
| 3 Years: | 24% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| Reserves | 619 | 284 | 358 | 406 | 508 | 554 | 467 | 568 | 848 | 1,156 | 1,344 | 1,535 | 1,608 |
| 0 | 332 | 397 | 491 | 418 | 573 | 530 | 1,522 | 1,066 | 1,120 | 1,073 | 1,007 | 1,081 | |
| 297 | 349 | 486 | 477 | 553 | 661 | 1,620 | 783 | 891 | 923 | 1,021 | 1,097 | 1,109 | |
| Total Liabilities | 940 | 988 | 1,265 | 1,397 | 1,503 | 1,811 | 2,641 | 2,897 | 2,829 | 3,223 | 3,461 | 3,663 | 3,821 |
| 228 | 216 | 453 | 471 | 518 | 654 | 1,665 | 1,583 | 1,437 | 1,437 | 1,823 | 1,814 | 1,912 | |
| CWIP | 8 | 25 | 21 | 67 | 99 | 91 | 18 | 7 | 69 | 439 | 74 | 77 | 35 |
| Investments | 24 | 26 | 0 | 0 | 0 | 0 | 0 | 150 | 207 | 171 | 307 | 386 | 351 |
| 679 | 721 | 790 | 860 | 885 | 1,066 | 958 | 1,158 | 1,115 | 1,176 | 1,257 | 1,386 | 1,523 | |
| Total Assets | 940 | 988 | 1,265 | 1,397 | 1,503 | 1,811 | 2,641 | 2,897 | 2,829 | 3,223 | 3,461 | 3,663 | 3,821 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 120 | 153 | 361 | 225 | 317 | 243 | 364 | 750 | 860 | 717 | 847 | 735 | |
| 39 | 32 | -149 | -228 | -190 | -280 | -193 | -529 | 11 | -514 | -375 | -300 | |
| -294 | -126 | -95 | -33 | -152 | 79 | -340 | -235 | -772 | -291 | -401 | -434 | |
| Net Cash Flow | -136 | 60 | 118 | -36 | -25 | 42 | -169 | -14 | 99 | -89 | 71 | 2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 50 | 47 | 41 | 49 | 55 | 56 | 61 | 57 | 48 | 45 | 46 | 50 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 50 | 47 | 41 | 49 | 55 | 56 | 61 | 57 | 48 | 45 | 46 | 50 |
| Working Capital Days | 12 | 8 | 0 | -18 | -17 | -22 | -37 | -74 | -49 | -23 | -47 | -23 |
| ROCE % | 28% | 32% | 48% | 31% | 28% | 17% | 13% | 17% | 31% | 26% | 19% | 16% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 24h
- Announcement under Regulation 30 (LODR)-Newspaper Publication 19 Jan
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 16 Jan
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Board Meeting Intimation for Board Meeting Intimation For Approval Of Unaudited Financial Results For The Quarter And Nine Months Ended December 31, 2025
16 Jan - Board meeting Jan 30, 2026 to approve unaudited results for quarter/9M ended Dec 31, 2025; trading window closed.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
12 Jan - Launch of 'India on the Move 2025' outlook; 2025 data: 14,000+ tonnes peak day, 47M parcels, −196°C coldest shipment.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2011
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Financial Year 2010
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Concalls
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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]