Blue Dart Express Ltd

About [ edit ]

Blue Dart Express is engaged in the business of integrated air and ground transportation and distribution of time sensitive packages to various destinations, primarily within India.(Source : 202003 Annual Report Page No:125)

  • Market Cap 12,827 Cr.
  • Current Price 5,405
  • High / Low 5,848 / 1,860
  • Stock P/E 109
  • Book Value 249
  • Dividend Yield 0.00 %
  • ROCE 19.8 %
  • ROE 21.7 %
  • Face Value 10.0

Pros

Cons

  • Stock is trading at 21.67 times its book value
  • The company has delivered a poor sales growth of 5.11% over past five years.
  • Company has a low return on equity of 12.84% for last 3 years.

Peer comparison

Sector: Logistics Industry: Couriers

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
735 800 858 782 789 802 858 726 416 867 1,037 968
666 733 768 722 675 676 716 634 459 638 785 720
Operating Profit 69 68 89 60 113 126 142 92 -43 229 252 248
OPM % 9% 8% 10% 8% 14% 16% 17% 13% -10% 26% 24% 26%
Other Income 5 5 5 5 6 7 -62 1 3 -29 14 7
Interest 9 10 12 12 30 29 29 30 28 30 27 26
Depreciation 30 31 34 34 81 83 88 95 96 112 115 108
Profit before tax 35 31 49 18 9 21 -38 -31 -163 57 124 122
Tax % 35% 28% 35% 33% 34% 29% 15% 3% 23% 26% 23% 26%
Net Profit 23 23 32 12 6 15 -32 -31 -126 42 95 90
EPS in Rs 9.68 9.50 13.49 5.16 2.52 6.17 -13.45 -12.88 -53.03 17.84 40.17 37.93

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
908 1,150 1,495 2,172 1,937 2,272 2,563 2,690 2,799 3,174 3,175 3,288
803 995 1,315 1,892 1,764 2,048 2,157 2,348 2,447 2,888 2,701 2,602
Operating Profit 104 155 180 280 172 224 406 342 352 286 475 686
OPM % 12% 14% 12% 13% 9% 10% 16% 13% 13% 9% 15% 21%
Other Income 8 5 22 29 39 25 35 26 20 19 -49 -6
Interest 1 0 0 0 0 11 43 45 40 43 117 111
Depreciation 18 19 22 35 27 44 102 104 114 128 347 430
Profit before tax 94 141 180 274 184 194 296 219 217 134 -39 140
Tax % 35% 33% 32% 30% 34% 34% 33% 36% 33% 33% -7% 27%
Net Profit 61 95 124 193 123 129 197 140 145 90 -42 102
EPS in Rs 25.78 39.91 52.34 81.46 51.67 54.51 82.95 58.93 60.99 37.83 -17.64 42.91
Dividend Payout % 4% 3% 4% 87% 29% 294% 36% 25% 21% 33% 0% 35%
Compounded Sales Growth
10 Years:11%
5 Years:5%
3 Years:6%
TTM:4%
Compounded Profit Growth
10 Years:2%
5 Years:-10%
3 Years:-7%
TTM:7492%
Stock Price CAGR
10 Years:15%
5 Years:0%
3 Years:15%
1 Year:151%
Return on Equity
10 Years:24%
5 Years:20%
3 Years:13%
Last Year:22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
24 24 24 24 24 24 24 24 24 24 24 24
Reserves 429 521 640 636 619 284 358 406 508 554 467 568
Borrowings 0 0 0 0 0 332 397 491 418 573 532 1,172
126 151 180 391 297 349 486 477 553 661 1,618 1,133
Total Liabilities 580 697 844 1,051 940 988 1,265 1,397 1,503 1,811 2,641 2,897
172 184 233 221 228 216 453 471 518 654 1,665 1,586
CWIP 17 27 3 12 8 25 21 67 99 91 18 4
Investments 105 97 74 23 24 26 0 0 0 0 0 150
285 389 534 795 679 721 790 860 885 1,066 958 1,158
Total Assets 580 697 844 1,051 940 988 1,265 1,397 1,503 1,811 2,641 2,897

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
38 38 107 183 120 153 361 225 317 243 364 750
-58 -25 -99 25 39 32 -149 -228 -190 -280 -193 -529
-3 -3 -3 -6 -294 -126 -95 -33 -152 79 -340 -235
Net Cash Flow -23 9 5 202 -136 60 118 -36 -25 42 -169 -14

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 22% 28% 30% 43% 28% 32% 48% 31% 28% 17% 13% 20%
Debtor Days 51 49 46 38 50 47 41 49 55 56 61 57
Inventory Turnover 3.63 4.19 4.18 6.13 5.75 5.03 15.02 8.49 9.48 11.13 8.84 0.00

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00
5.57 5.62 4.45 4.50 4.54 4.48 3.66 2.68 2.39 1.60 1.81 1.97
6.57 6.53 5.97 5.22 4.97 9.43 9.91 10.87 11.12 11.94 11.70 11.31
12.86 12.85 14.58 15.28 15.49 11.09 11.43 11.45 11.49 11.46 11.49 11.72

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