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 ₹ 28,932 Cr.
- Current Price ₹ 386
- High / Low ₹ 524 / 365
- Stock P/E 89.2
- Book Value ₹ 137
- Dividend Yield 0.00 %
- ROCE 2.51 %
- ROE 1.57 %
- Face Value ₹ 1.00
Pros
- Company has delivered good profit growth of 20.2% CAGR over last 5 years
- Company's working capital requirements have reduced from 74.6 days to 37.3 days
Cons
- Stock is trading at 2.82 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 0.60% over last 3 years.
* 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
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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 496 | 738 | 1,019 | 1,654 | 2,777 | 3,500 | 5,911 | 6,659 | 7,454 | 8,325 | 9,847 | 10,900 | |
| 797 | 1,318 | 1,703 | 3,355 | 2,946 | 3,548 | 6,370 | 7,048 | 7,277 | 7,929 | 9,056 | 10,021 | |
| Operating Profit | -301 | -580 | -683 | -1,701 | -169 | -48 | -459 | -389 | 178 | 396 | 792 | 879 |
| OPM % | -61% | -79% | -67% | -103% | -6% | -1.4% | -8% | -6% | 2.4% | 4.8% | 8% | 8% |
| 27 | 14 | 58 | 31 | 188 | 134 | 167 | 320 | 401 | 365 | 329 | 277 | |
| Interest | 3 | 13 | 12 | 19 | 49 | 89 | 94 | 86 | 88 | 125 | 136 | 132 |
| Depreciation | 40 | 53 | 47 | 92 | 254 | 353 | 478 | 657 | 659 | 543 | 668 | 730 |
| Profit before tax | -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 | 92 | 318 | 294 |
| Tax % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -6% | -2% | |
| -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 | 98 | 325 | 299 | |
| EPS in Rs | -33.35 | -66.40 | -71.30 | -185.52 | -28.99 | -21.34 | -13.45 | -11.15 | -2.28 | 1.31 | 4.35 | 3.99 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 35% |
| 5 Years: | 23% |
| 3 Years: | 14% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 20% |
| 3 Years: | 30% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -1% |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -4% |
| 3 Years: | 1% |
| 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 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.95 | 0.95 | 0.96 | 0.96 | 0.97 | 2 | 64 | 73 | 74 | 75 | 75 | 75 |
| Reserves | 321 | -1,546 | -2,178 | 3,381 | 3,122 | 2,860 | 6,093 | 9,497 | 9,546 | 9,562 | 9,986 | 10,185 |
| 79 | 11 | 41 | 104 | 794 | 1,152 | 1,055 | 918 | 1,165 | 1,422 | 1,396 | 1,447 | |
| 162 | 2,561 | 3,275 | 296 | 428 | 607 | 918 | 1,038 | 1,059 | 1,188 | 1,605 | 1,575 | |
| Total Liabilities | 563 | 1,027 | 1,139 | 3,781 | 4,344 | 4,621 | 8,130 | 11,526 | 11,843 | 12,247 | 13,061 | 13,282 |
| 93 | 60 | 100 | 189 | 740 | 1,049 | 1,437 | 1,536 | 1,965 | 3,922 | 4,250 | 4,367 | |
| CWIP | 1 | 0 | 6 | 1 | 27 | 77 | 60 | 23 | 29 | 33 | 2 | 11 |
| Investments | 122 | 211 | 284 | 1,160 | 1,197 | 1,163 | 3,706 | 3,945 | 4,615 | 3,812 | 4,546 | 4,751 |
| 348 | 756 | 749 | 2,431 | 2,381 | 2,333 | 2,927 | 6,021 | 5,235 | 4,481 | 4,263 | 4,153 | |
| Total Assets | 563 | 1,027 | 1,139 | 3,781 | 4,344 | 4,621 | 8,130 | 11,526 | 11,843 | 12,247 | 13,061 | 13,282 |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -430 | -218 | -643 | 13 | -441 | -40 | 521 | 574 | 1,031 | |||
| -101 | -139 | -934 | 286 | -2,895 | -3,428 | -147 | -156 | -679 | |||
| 684 | 206 | -17 | -112 | 3,247 | 3,557 | -364 | -432 | -431 | |||
| Net Cash Flow | 154 | -151 | -1,594 | 187 | -89 | 88 | 11 | -14 | -79 | ||
| Free Cash Flow | -450 | -312 | -852 | -198 | -971 | -628 | 54 | 50 | 533 | ||
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 72% | 31% | 355% | -63% | 95% | -8% | 308% | 152% | 136% |
Ratios
Standalone / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 83 | 47 | 58 | 47 | 79 | 60 | 48 | 77 | 63 | 57 | 46 |
| Inventory Days | |||||||||||
| Days Payable | |||||||||||
| Cash Conversion Cycle | 83 | 47 | 58 | 47 | 79 | 60 | 48 | 77 | 63 | 57 | 46 |
| Working Capital Days | 19 | 49 | 118 | 43 | 94 | 99 | 60 | 190 | 116 | 70 | 37 |
| ROCE % | -260% | -7% | -5% | -14% | -8% | -0% | 3% | 3% |
Insights
In beta| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Active Customers Count |
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| Express Parcel Shipments Million parcels |
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| Fleet Size Count (daily average) |
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| Partner Agents Count |
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| Pin-codes Served Count |
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| PTL Freight Tonnage '000 Metric Tons |
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| Team Size Count |
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| Total Infrastructure Million sq. ft. |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Publication of Unaudited Financial Results for the quarter and half year ended September 30, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 and H1 FY2027 earnings conference call uploaded on October 30, 2026.
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Announcement under Regulation 30 (LODR)-Acquisition
- Board approved Q2/H1 FY27 unaudited results and up to ₹36 crore investment in DFDPL.
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Letter To Shareholders On Financial Results For The Quarter And Half Year Ended September 30, 2026
- Q2FY27 revenue rose 19.8% to Rs3,066 Cr; PAT was Rs41 Cr; express shipments up 32.1% YoY.
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Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation for the "Earning Conference Call" scheduled to be held on October 30, 2026.
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from bse
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Annual Report 2023
from bse
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Annual Report 2022
from bse
Concalls
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Oct 2026PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT
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Jan 2026PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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Aug 2024PPT
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May 2024Transcript PPT REC
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023PPT
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Jun 2023PPT
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Jun 2023Transcript PPT
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May 2023PPT
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May 2023PPT
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May 2023PPT
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Feb 2023Transcript PPT
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Feb 2023PPT
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Dec 2022Transcript PPT
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Nov 2022PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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May 2022PPT
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May 2022PPT
Business Model:[1][2][3]
Delhivery operates an integrated
logistics platform across Express
Parcel, Part Truckload (PTL), Supply
Chain Services (SCS), Full Truckload
(FTL), International, and intracity logistics.
-Express Parcel and PTL share the same technology, gateways, line-haul, and sortation infrastructure.
-SCS combines warehousing with transportation. -FTL runs through Orion, an asset-light freight exchange. International combines cross-border parcel, freight forwarding, and customs clearance with the domestic network and
global partners.