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]
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.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Container Corpn. | 531.25 | 30.87 | 40460.95 | 1.75 | 379.98 | -3.01 | 2354.53 | 2.92 | 13.87 | 9004.30 | 21.26 | 1310.42 | 378.70 | 3.17 | 9.18 | 0.07 |
| 2. | Delhivery | 416.00 | 112.01 | 31120.79 | 0.00 | 61.24 | 216.00 | 2381.51 | 17.90 | 2.71 | 8735.78 | 6.21 | 277.86 | 61.24 | 3.08 | 1.43 | 0.15 |
| 3. | Blue Dart Expres | 5480.70 | 48.83 | 13005.70 | 0.45 | 81.38 | 29.50 | 1549.33 | 6.96 | 16.33 | 5920.26 | 15.20 | 266.37 | 81.38 | 7.96 | 6.65 | 0.66 |
| 4. | Transport Corp. | 1057.00 | 18.68 | 8110.04 | 0.76 | 113.50 | 5.83 | 1204.90 | 7.50 | 20.52 | 4670.10 | 10.45 | 434.20 | 112.60 | 3.39 | 15.72 | 0.11 |
| 5. | TVS Supply | 111.80 | 41.56 | 4932.40 | 0.00 | 16.31 | 67.63 | 2662.63 | 5.96 | 4.83 | 10198.39 | 6.66 | 118.68 | 15.64 | 2.53 | -0.16 | 1.14 |
| 6. | VRL Logistics | 263.30 | 19.71 | 4606.09 | 2.86 | 49.89 | 39.28 | 796.96 | -0.32 | 15.73 | 3175.55 | 20.65 | 233.60 | 49.89 | 4.20 | 7.38 | 1.01 |
| 7. | Mahindra Logis. | 315.05 | – | 3124.68 | 0.79 | -8.36 | 3.72 | 1685.27 | 10.79 | 5.64 | 6473.57 | 4.83 | -36.93 | -10.35 | 2.73 | -1.23 | 0.59 |
| – | Median: 49 Co. | 119.55 | 23.85 | 378.72 | 0.0 | 5.02 | 13.05 | 138.27 | 8.12 | 14.74 | 390.24 | 8.12 | 10.01 | 5.34 | 2.49 | 7.01 | 0.32 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,683 | 2,027 | 2,204 | 1,777 | 2,006 | 2,128 | 1,723 | 1,879 | 2,022 | 1,653 | 1,771 | 2,020 | 2,382 |
Expenses | 1,752 | 1,904 | 2,095 | 1,771 | 1,901 | 1,969 | 1,707 | 1,828 | 1,902 | 1,791 | 1,774 | 1,968 | 2,228 |
Operating Profit | -68 | 123 | 109 | 6 | 106 | 159 | 16 | 51 | 120 | -138 | -3 | 52 | 154 |
Other Income | 93 | 122 | 100 | 106 | 110 | 133 | 67 | 66 | 36 | 102 | 107 | 124 | 96 |
Profit before tax | -166 | 53 | 38 | -55 | 72 | 114 | -118 | -96 | -17 | -221 | -70 | 19 | 61 |
Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Profit | -166 | 53 | 38 | -55 | 72 | 114 | -118 | -96 | -17 | -221 | -70 | 19 | 61 |
EPS in Rs | -2.28 | 0.72 | 0.51 | -0.75 | 0.97 | 1.53 | -1.61 | -1.31 | -0.22 | -3.04 | -0.95 | 0.26 | 0.82 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 496 | 738 | 1,019 | 1,654 | 2,777 | 3,500 | 5,911 | 6,659 | 7,454 | 8,252 | 8,736 |
Expenses | 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 |
Other Income | 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 |
Net Profit | -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% | – |
Standalone figures in ₹ crores
| 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 |
Borrowings | 79 | 11 | 41 | 104 | 794 | 1,152 | 1,055 | 918 | 1,165 | 1,420 | 1,480 |
Other Liabilities | 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 |
Fixed Assets | 93 | 60 | 100 | 189 | 740 | 1,049 | 1,437 | 1,536 | 1,965 | 2,563 | 2,771 |
Gross Block | 138 | 153 | 234 | 406 | 1,083 | 1,541 | 2,163 | 2,637 | 3,371 | 4,179 | – |
Accumulated Depreciation | 45 | 93 | 134 | 217 | 343 | 492 | 726 | 1,101 | 1,406 | 1,616 | – |
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 |
Other Assets | 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 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | – | -430 | -218 | – | -643 | 13 | -441 | -40 | 521 | 528 |
Cash from Investing Activity | – | -101 | -139 | – | -934 | 286 | -2,895 | -3,428 | -147 | -107 |
Cash from Financing Activity | – | 684 | 206 | – | -17 | -112 | 3,247 | 3,557 | -364 | -430 |
Net Cash Flow | – | 154 | -151 | – | -1,594 | 187 | -89 | 88 | 11 | -9 |
Standalone Figures in ₹ Crores / Yearly
| 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% |
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Stock Analysis
Delhivery is a leading integrated logistics provider in India, offering a comprehensive suite of services including express parcel delivery, PTL and TL freight, warehousing, supply chain solutions, and cross-border services. The company serves a wide range of industries and clients across India.
The incorporation of Delhivery Financial Services Private Limited represents a significant strategic initiative, expanding the company's service portfolio into financial solutions. This aims to create new revenue streams and enhance value by supporting its extensive network of truckers, fleet owners, and MSMEs, thereby strengthening its ecosystem and potentially improving logistics efficiency through better financial access.
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