Blue Dart Express Ltd

Blue Dart Express Ltd

₹ 4,742 -0.66%
29 May - close price
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]

  • Market Cap 11,249 Cr.
  • Current Price 4,742
  • High / Low 7,080 / 4,683
  • Stock P/E 40.1
  • Book Value 749
  • Dividend Yield 0.53 %
  • 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,217 1,238 1,324 1,383 1,323 1,343 1,448 1,512 1,417 1,442 1,549 1,616 1,533
1,017 1,047 1,102 1,170 1,097 1,141 1,230 1,272 1,204 1,246 1,297 1,335 1,311
Operating Profit 199 191 223 213 226 202 218 239 213 196 252 281 222
OPM % 16% 15% 17% 15% 17% 15% 15% 16% 15% 14% 16% 17% 14%
9 10 5 24 11 9 9 12 12 10 10 -33 12
Interest 15 19 20 20 19 21 21 21 20 19 22 24 22
Depreciation 96 99 111 111 113 118 121 121 124 121 131 145 140
Profit before tax 97 82 98 108 105 72 85 109 81 66 109 79 73
Tax % 28% 26% 25% 17% 26% 26% 26% 26% 32% 26% 26% 14% 33%
69 61 73 89 78 53 63 81 55 49 81 68 49
EPS in Rs 29.27 25.83 30.79 37.46 32.78 22.51 26.48 34.14 23.24 20.58 34.30 28.80 20.59
Raw PDF

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: -1%
5 Years: -5%
3 Years: -8%
1 Year: -29%
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 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Number of Shipments
Lakhs

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Tonnage
Metric Tonnes
Aircraft Fleet size
Number
Location Coverage (Pin Codes)
Number
Vehicle Fleet size
Number

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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%
4.24% 4.73% 5.29% 5.40% 5.37% 5.46% 5.98% 5.46% 5.53% 5.04% 4.14% 3.42%
11.10% 11.76% 11.76% 11.73% 12.65% 12.94% 12.49% 13.04% 13.04% 13.13% 13.62% 14.54%
9.64% 8.50% 7.94% 7.88% 6.98% 6.60% 6.50% 6.49% 6.44% 6.82% 7.26% 7.04%
No. of Shareholders 36,84035,01929,29434,03129,99430,30130,92529,90430,90634,12337,30835,375

* 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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