Delhivery Ltd
Delhivery provides a full range of Logistics services, including delivery of express parcels and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. The company also offers value-added services such as e-commerce return services, payment collection and processing, installation & assembly services, and fraud detection.[1]
- Market Cap ₹ 32,225 Cr.
- Current Price ₹ 430
- High / Low ₹ 490 / 237
- Stock P/E 116
- Book Value ₹ 135
- Dividend Yield 0.00 %
- ROCE 2.71 %
- ROE 1.78 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 20.8% CAGR over last 5 years
- Company's working capital requirements have reduced from 126 days to 72.4 days
Cons
- Stock is trading at 3.18 times its book value
- Company has a low return on equity of -2.86% over last 3 years.
- Earnings include an other income of Rs.365 Cr.
* 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 MidCap Nifty Smallcap 100 BSE Allcap
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 496 | 738 | 1,019 | 1,654 | 2,777 | 3,500 | 5,911 | 6,659 | 7,454 | 8,252 | 8,736 | |
| 797 | 1,318 | 1,703 | 3,355 | 2,946 | 3,548 | 6,370 | 7,048 | 7,277 | 7,865 | 8,193 | |
| Operating Profit | -301 | -580 | -683 | -1,701 | -169 | -48 | -459 | -389 | 178 | 387 | 543 |
| OPM % | -61% | -79% | -67% | -103% | -6% | -1% | -8% | -6% | 2% | 5% | 6% |
| 27 | 14 | 58 | 31 | 188 | 134 | 167 | 320 | 401 | 370 | 365 | |
| Interest | 3 | 13 | 12 | 19 | 49 | 89 | 94 | 86 | 88 | 125 | 135 |
| Depreciation | 40 | 53 | 47 | 92 | 254 | 353 | 478 | 657 | 659 | 519 | 576 |
| Profit before tax | -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 | 113 | 197 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
| -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 | 113 | 197 | |
| EPS in Rs | -3,324.10 | -6,618.19 | -7,141.90 | -18,583.47 | -2,914.15 | -2,136.22 | -13.45 | -11.15 | -2.28 | 1.51 | 2.64 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 12% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 30% |
| TTM: | 118% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| 1 Year: | 21% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | -3% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.95 | 0.95 | 0.96 | 0.96 | 0.97 | 2 | 64 | 73 | 74 | 75 | 75 |
| Reserves | 321 | -1,546 | -2,178 | 3,381 | 3,122 | 2,860 | 6,093 | 9,497 | 9,546 | 9,781 | 10,009 |
| 79 | 11 | 41 | 104 | 794 | 1,152 | 1,055 | 918 | 1,165 | 1,420 | 1,480 | |
| 162 | 2,561 | 3,275 | 296 | 428 | 607 | 918 | 1,038 | 1,059 | 1,155 | 1,426 | |
| Total Liabilities | 563 | 1,027 | 1,139 | 3,781 | 4,344 | 4,621 | 8,130 | 11,526 | 11,843 | 12,430 | 12,990 |
| 93 | 60 | 100 | 189 | 740 | 1,049 | 1,437 | 1,536 | 1,965 | 2,563 | 2,771 | |
| CWIP | 1 | 0 | 6 | 1 | 27 | 77 | 60 | 23 | 29 | 33 | 89 |
| Investments | 122 | 211 | 284 | 1,160 | 1,197 | 1,163 | 3,706 | 3,945 | 4,615 | 5,350 | 5,777 |
| 348 | 756 | 749 | 2,431 | 2,381 | 2,333 | 2,927 | 6,021 | 5,235 | 4,485 | 4,353 | |
| Total Assets | 563 | 1,027 | 1,139 | 3,781 | 4,344 | 4,621 | 8,130 | 11,526 | 11,843 | 12,430 | 12,990 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -430 | -218 | -643 | 13 | -441 | -40 | 521 | 528 | |||
| -101 | -139 | -934 | 286 | -2,895 | -3,428 | -147 | -107 | |||
| 684 | 206 | -17 | -112 | 3,247 | 3,557 | -364 | -430 | |||
| Net Cash Flow | 154 | -151 | -1,594 | 187 | -89 | 88 | 11 | -9 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 83 | 47 | 58 | 47 | 79 | 60 | 48 | 77 | 63 | 58 |
| Inventory Days | ||||||||||
| Days Payable | ||||||||||
| Cash Conversion Cycle | 83 | 47 | 58 | 47 | 79 | 60 | 48 | 77 | 63 | 58 |
| Working Capital Days | 19 | 49 | 118 | 43 | 94 | 99 | 60 | 190 | 116 | 72 |
| ROCE % | -260% | -7% | -5% | -14% | -8% | -0% | 3% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - Delhivery Limited has informed about the Schedule of Investors' Conference "HSBC 19th Annual Transport and Logistics Conference"
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1d - Newspaper Publication of Unaudited Consolidated Financial results for the quarter and half year ended September 30, 2025
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Audio recording of Delhivery earnings call for quarter and half-year ended September 30, 2025 (held Nov 5, 2025).
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
2d - Monitoring agency confirms no deviation; IPO net proceeds Rs 38,863.03m utilized as of Sept 30, 2025.
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Announcement under Regulation 30 (LODR)-Acquisition
2d - Nov 5, 2025: Board approved UK and UAE step-down WOS; up to INR 5,00,00,000 each.
Annual reports
Concalls
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Leading Logistics Player[1]
Delhivery is the largest and fastest-growing fully integrated logistic company in India by revenue in FY24. It provides full range of logistics and value-added services serving over 220 countries and territories.