Blue Dart Express Ltd

₹ 4,481 -3.12%

01 Oct 4:01 p.m.

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 ₹ 10,633 Cr.
Current Price ₹ 4,481
High / Low ₹ 7,036 / 4,472
Stock P/E 32.8
Book Value ₹ 749
Dividend Yield 0.53 %
ROCE 15.8 %
ROE 15.7 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 22.4%

Cons

* 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 Services Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE 1000 Nifty India Infrastructure & Logistics Nifty500 Shariah Nifty Smallcap 500 Nifty MidSmallcap400 50:50 BSE 500 BSE 250 SmallCap Index BSE 400 MidSmallCap Index

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,238	1,324	1,383	1,323	1,343	1,448	1,512	1,417	1,442	1,549	1,616	1,533	1,658
	1,047	1,102	1,170	1,097	1,141	1,230	1,272	1,204	1,246	1,297	1,335	1,311	1,396
Operating Profit	191	223	213	226	202	218	239	213	196	252	281	222	261
OPM %	15%	17%	15%	17%	15%	15%	16%	15%	14%	16%	17%	14%	16%
	10	5	24	11	9	9	12	12	10	10	-33	12	15
Interest	19	20	20	19	21	21	21	20	19	22	24	22	21
Depreciation	99	111	111	113	118	121	121	124	121	131	145	140	137
Profit before tax	82	98	108	105	72	85	109	81	66	109	79	73	119
Tax %	26%	25%	17%	26%	26%	26%	26%	32%	26%	26%	14%	33%	26%
	61	73	89	78	53	63	81	55	49	81	68	49	88
EPS in Rs	25.83	30.79	37.46	32.78	22.51	26.48	34.14	23.24	20.58	34.30	28.80	20.59	37.29
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,272	2,563	2,690	2,799	3,174	3,175	3,288	4,410	5,172	5,268	5,720	6,141	6,357
	2,048	2,157	2,348	2,447	2,888	2,701	2,602	3,410	4,235	4,415	4,844	5,190	5,340
Operating Profit	224	406	342	352	286	475	686	1,000	938	853	876	951	1,016
OPM %	10%	16%	13%	13%	9%	15%	21%	23%	18%	16%	15%	15%	16%
	25	35	26	20	19	-49	-6	-5	32	51	38	-2	3
Interest	11	43	45	40	43	117	111	87	67	78	82	86	88
Depreciation	44	102	104	114	128	347	430	395	394	433	485	536	552
Profit before tax	194	296	219	217	134	-39	140	512	508	393	347	327	380
Tax %	34%	33%	36%	33%	33%	7%	27%	25%	27%	23%	27%	24%
	129	197	140	145	90	-42	102	382	371	301	252	247	287
EPS in Rs	54.51	82.95	58.93	60.99	37.83	-17.64	42.91	161.08	156.16	126.86	106.38	104.26	120.98
Dividend Payout %	294%	36%	25%	21%	33%	0%	35%	37%	19%	20%	24%	24%

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

Compounded Profit Growth
10 Years:	3%
5 Years:	18%
3 Years:	-10%
TTM:	31%

Stock Price CAGR
10 Years:	-2%
5 Years:	-6%
3 Years:	-12%
1 Year:	-19%

Return on Equity
10 Years:	24%
5 Years:	25%
3 Years:	18%
Last Year:	16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	284	358	406	508	554	467	568	848	1,156	1,344	1,535	1,753
	332	397	491	418	573	530	1,522	1,066	1,120	1,073	1,007	1,142
	349	486	477	553	661	1,620	783	891	923	1,021	1,097	1,208
Total Liabilities	988	1,265	1,397	1,503	1,811	2,641	2,897	2,829	3,223	3,461	3,663	4,127
	216	453	471	518	654	1,665	1,583	1,437	1,437	1,823	1,814	2,035
CWIP	25	21	67	99	91	18	7	69	439	74	77	27
Investments	26	0	0	0	0	0	150	207	171	307	386	413
	721	790	860	885	1,066	958	1,158	1,115	1,176	1,257	1,386	1,652
Total Assets	988	1,265	1,397	1,503	1,811	2,641	2,897	2,829	3,223	3,461	3,663	4,127

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	153	361	225	317	243	364	750	860	717	847	735	810
	32	-149	-228	-190	-280	-193	-529	11	-514	-375	-300	-315
	-126	-95	-33	-152	79	-340	-235	-772	-291	-401	-434	-424
Net Cash Flow	60	118	-36	-25	42	-169	-14	99	-89	71	2	72
Free Cash Flow	94	252	57	119	-44	167	590	689	147	585	488	498
CFO/OP	102%	116%	91%	114%	113%	90%	113%	100%	93%	107%	94%	98%

Ratios

Consolidated / View Standalone

	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	41	49	55	56	61	57	48	45	46	50	55
Inventory Days
Days Payable
Cash Conversion Cycle	47	41	49	55	56	61	57	48	45	46	50	55
Working Capital Days	8	0	-18	-17	-22	-37	-74	-49	-23	-47	-23	-35
ROCE %	32%	48%	31%	28%	17%	13%	17%	31%	26%	19%	16%	16%

Insights

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Domestic locations covered
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Number of employees
count

Number of shipments
millions

Tonnage
thousand tonnes

Aircraft fleet size
count

Number of facilities
count

B2B share of revenue
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 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%
	4.73%	5.29%	5.40%	5.37%	5.46%	5.98%	5.46%	5.53%	5.04%	4.14%	3.42%	3.35%
	11.76%	11.76%	11.73%	12.65%	12.94%	12.49%	13.04%	13.04%	13.13%	13.62%	14.54%	14.47%
	8.50%	7.94%	7.88%	6.98%	6.60%	6.50%	6.49%	6.44%	6.82%	7.26%	7.04%	7.17%
No. of Shareholders	35,019	29,294	34,031	29,994	30,301	30,925	29,904	30,906	34,123	37,308	35,375	37,650

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	75.00%	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%	3.35%
	6.65%	5.90%	5.22%	10.87%	11.31%	9.51%	9.86%	11.73%	13.04%	14.54%	14.47%
	11.84%	12.42%	15.28%	11.45%	11.72%	12.24%	10.29%	7.88%	6.49%	7.04%	7.17%
No. of Shareholders	19,308	16,787	17,042	16,867	22,222	29,768	36,656	34,031	29,904	35,375	37,650

* 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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