DELHIVERYServices

Delhivery Limited

Logistics Solution Provider · ISIN INE148O01028 · BSE 543529 · NSE EQ · FV ₹1
Last price
₹426
+0.98%today
What this company does

Delhivery Limited operates in Logistics Solution Provider, part of the Services sector. It booked ₹2,931 cr of revenue in its latest quarter (Q1 FY27) and kept 1.1% of sales as profit. It is the 2nd largest of 9 Logistics Solution Provider companies we track, by market value.

In the report:
48out of 100
Equitytale Health Score
Mixed

Healthier than 48% of companies in Services, on all six measures of filed financials. Each measure is ranked against the 75–116 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns17

How much profit it earns on the money it employs

Balance sheet66

How much it owes, and whether earnings cover the interest

Cash quality64

Whether reported profit actually arrives as cash

Growth & consistency57

Whether sales and profit have grown, and how steadily

Valuation14

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 28% vs last year
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 1.1% net margin
! Profit down 65% vs last year
! Low 1.3% return on equity

What if I invest in DELHIVERY?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 11% a year, it would become
₹21.24 lakh

The slider starts at 11%, taken from this company's own revenue trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹426 +0.98%
latest close · 2026-09-17
52-wk low ₹41569 sessions so far52-wk high ₹617
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio247.6High
LowAverageHigh
P/B ratio3.29High
Below bookModerateHigh
EV / EBITDA30.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity1.3%Weak
WeakFairStrong ▸15%
Return on capital2.5%Weak
WeakFairStrong
Net margin1.1%Thin
ThinDecentStrong
EBITDA margin8.7%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover2.0×Risky
RiskyOkayStrong ▸5×
Current ratio2.59Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹31,897 cr
Book value
₹129
EPS
₹0.43
latest quarter
Net debt
₹-239 cr
more cash than debt
Enterprise value
₹31,658 cr
EBITDA
₹1,025 cr
annualised
EBIT
₹268 cr
annualised
Operating margin
2.3%
Return on assets
1.0%
Earnings yield
0.40%
P/S
2.72
Sales / share
₹156.5
Tax rate
-5.0%
Face value
₹1
Shares
74.9 cr
Working capital
₹3,054 cr
Current assets
₹4,977 cr
Current liabilities
₹1,923 cr
Delivery %
56.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹69₹69, midpoint ₹69

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹2,931 cr
Other Income₹114 cr
Total Income₹3,045 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹429 cr
Finance Costs₹34 cr
Depreciation & Amortisation₹189 cr
Other Expenses₹2,360 cr
Total Expenses₹3,012 cr
Profit before Tax₹33 cr
Tax Expense₹-2 cr
Share of JV / Associates₹-3 cr
Net Profit₹32 cr
Net margin on total income1.0%
Where the money goes · Q1 FY27
% of total income
Employee benefit expense₹429 cr14.1%
Finance costs₹34 cr1.1%
Depreciation & amortisation₹189 cr6.2%
Other expenses₹2,360 cr77.5%
Profit for the period₹32 cr1.0%
Total income ₹3,045 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue2,805 cr2,850 cr2,931 cr
Total income2,882 cr2,909 cr3,045 cr
Expenses2,820 cr2,853 cr3,012 cr
Profit before tax35 cr58 cr33 cr
Tax-3 cr-5 cr-2 cr
Net profit (owners' share)40 cr72 cr32 cr
Net margin (owners' share, on revenue)1.4%2.5%1.1%
EPS (₹)0.530.970.43
YoY (latest quarter): total income +25.6% · net profit -65.0%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹12,777 cr
Shareholder equity
₹9,687 cr
parent shareholders
Total debt
₹3 cr
Cash
₹242 cr
Cash flow · H1 FY26
Operating
₹215 cr
Investing
₹57 cr
Financing
₹-255 cr
Peer comparison
Logistics Solution Provider · by market value
CompanyPriceMarket capP/E
Container Corporation of India Limited₹488₹37,178 cr34.6
Delhivery Limitedthis company₹426₹31,897 cr247.6
Shadowfax Technologies Limited₹252₹14,724 cr56.7
Blue Dart Express Limited₹4,811₹11,417 cr32.3
Shiprocket Limited₹121₹7,694 cr
Transport Corporation of India Limited₹827₹6,364 cr15.0
TVS Supply Chain Solutions Limited₹130₹5,743 cr69.2
VRL Logistics Limited₹288₹5,037 cr15.6
Mahindra Logistics Limited₹390₹3,865 cr38.0
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
FII / Foreign
41.9%
DII / Domestic
43.1%
Retail / others
15.0%
Smart-money activity
Bulk / block deals
short · NSE116 Sep 26
short · NSE2,38427 Aug 26
short · NSE1026 Aug 26
Stake changes
SoldSVF Doorbell (Cayman) Limited→ 7.61% · 1.46 cr22 Jun 26
SoldInvesco Ltd.→ 2.96% · 29.01 L15 May 26
SoldNexus Opportunity Fund Limited→ 0.46% · 32.63 L8 Apr 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 3 Sep 2025
See the official result
1
To adopt financial statement of the Company for the financial year ended March 31, 2025
Backed by 100% of shareholders other than promotersneeded 50%
62.08 cr votes for, 28.56 L against · 0% of mutual funds and other big investors said no
2
To re-appoint Mr. Kapil Bharati (DIN: 02227607), who retires by rotation and being eligible, offers himself for re-appointment as a Director
Backed by 100% of shareholders other than promotersneeded 50%
63.17 cr votes for, 2.56 L against · 0% of mutual funds and other big investors said no
3
To approve remuneration of Mr. Deepak Kapoor (DIN: 00162957), Chairman and Non-Executive Independent Director, for the period from October 01, 2025 to September 30, 2026
Backed by 99% of shareholders other than promotersneeded 75%
62.75 cr votes for, 44.09 L against · 1% of mutual funds and other big investors said no
4
To approve remuneration of Mr. Romesh Sobti (DIN: 00031034), Non-Executive Independent Director,for the period from October 01, 2025 to September 30, 2026
Backed by 99% of shareholders other than promotersneeded 75%
62.75 cr votes for, 44.29 L against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹3,868 cr raised in May 2022 by selling shares to the public

As of Sep 2025, the company says it has spent 100% of what it set aside. Axis Bank Limited watches the spending on the exchange’s behalf.

Organic Growth Initiative - Building scale in existing business lines and developing new adjacent business lines
now filed as: Not Applicable, since there is no deviation from the Object.
100%
₹160 cr of ₹160 cr
Organic Growth Initiative - Expanding our network infrastructure
now filed as: Not Applicable, since there is no deviation from the Object.
100%
₹1,360 cr of ₹1,360 cr
Organic Growth Initiative - Upgrading and improving our proprietary logistics operating system
now filed as: Not Applicable, since there is no deviation from the Object.
100%
₹480 cr of ₹480 cr
Funding inorganic growth through acquisition and other strategic Initiatives
now filed as: Not Applicable, since there is no deviation from the Object.
100%
₹1,000 cr of ₹1,000 cr
General corporate purposes
now filed as: Not Applicable, since there is no deviation from the Object.
originally ₹870 cr
budget changed
100%
₹886 cr of ₹886 cr
Spent by quarter: 76%77%100% (to Sep 2025)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.