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 ₹ 11,671 Cr.
- Current Price ₹ 4,918
- High / Low ₹ 7,036 / 4,628
- Stock P/E 41.6
- Book Value ₹ 749
- Dividend Yield 0.51 %
- ROCE 16.6 %
- ROE 16.8 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 18.3%
- 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,272 | 2,563 | 2,690 | 2,799 | 3,174 | 3,175 | 3,288 | 4,410 | 5,172 | 5,268 | 5,720 | 6,141 | |
| 2,048 | 2,157 | 2,348 | 2,447 | 2,888 | 2,701 | 2,602 | 3,410 | 4,235 | 4,415 | 4,844 | 5,190 | |
| Operating Profit | 224 | 406 | 342 | 352 | 286 | 475 | 686 | 1,000 | 938 | 853 | 876 | 951 |
| OPM % | 10% | 16% | 13% | 13% | 9% | 15% | 21% | 23% | 18% | 16% | 15% | 15% |
| 25 | 35 | 26 | 20 | 19 | -49 | -6 | -5 | 32 | 51 | 38 | -2 | |
| Interest | 11 | 43 | 45 | 40 | 43 | 117 | 111 | 87 | 67 | 78 | 82 | 86 |
| Depreciation | 44 | 102 | 104 | 114 | 128 | 347 | 430 | 395 | 394 | 433 | 485 | 536 |
| Profit before tax | 194 | 296 | 219 | 217 | 134 | -39 | 140 | 512 | 508 | 393 | 347 | 327 |
| 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 | |
| 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 |
| 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: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 19% |
| 3 Years: | -8% |
| TTM: | 18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -2% |
| 5 Years: | -4% |
| 3 Years: | -12% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 25% |
| 3 Years: | 18% |
| Last Year: | 17% |
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 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | -11 |
| ROCE % | 32% | 48% | 31% | 28% | 17% | 13% | 17% | 31% | 26% | 19% | 16% | 17% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Domestic locations covered count |
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| Number of shipments millions |
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| Tonnage thousand tonnes |
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| Aircraft fleet size count |
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| Number of facilities count |
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| B2B share of revenue % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Resignation of Director
1d - Blue Dart appoints Charles Simon Dobbie as additional director and accepts Florian Bumberger’s resignation, effective July 10, 2026.
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Blue Dart appointed Charles Simon Dobbie as additional director and accepted Florian Bumberger’s resignation on July 10, 2026.
- Closure of Trading Window 24 Jun
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Closure of Trading Window
24 Jun - Trading window closed from July 1, 2026 until 48 hours after Q1 FY2027 results.
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Intimation Under Regulation 30 Of The Securities & Exchange Board Of India (LODR) Regulations, 2015
17 Jun - NRC reconstituted on June 17, 2026; Mr. Sebastian Paessens replaces Mr. Florian Bumberger.
Annual reports
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Financial Year 2025
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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]