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Delhivery Overview

Delhivery Ltd presents supply chain solutions to e-commerce marketplaces, direct-to-consumer e-tailers, businesses, FMCG, consumer durables, client electronics, life-style, retail, automobile and production industries in India. The employer offers logistics offerings, consisting of specific parcel delivery, heavy goods delivery, part truckload freight, truckload freight, warehousing, cross-border express, and freight services; supply chain software; and e-trade return offerings, charge collection and processing, maintenance and assembly, and fr...Read More

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Delhivery Key Financials

Market Cap ₹30040 Cr.

Stock P/E 185.3

P/B 3.2

Current Price ₹401.5

Book Value ₹ 127.3

Face Value 1

52W High ₹490

Dividend Yield 0%

52W Low ₹ 236.8

Delhivery Share Price

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Volume
Price

Delhivery Quarterly Price

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Delhivery Peer Comparison

Delhivery Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 1930 1942 2194 2076 2172 2190 2378 2192 2294 2559
Other Income 101 101 131 119 110 120 99 112 130 92
Total Income 2031 2043 2325 2195 2282 2309 2477 2303 2424 2652
Total Expenditure 1943 1957 2085 2030 2075 2132 2276 2072 2145 2491
Operating Profit 88 86 240 165 207 177 201 231 279 160
Interest 20 20 22 27 28 31 33 34 34 39
Depreciation 167 171 183 200 119 131 142 142 147 178
Exceptional Income / Expenses 0 0 -8 -15 -5 0 0 0 0 0
Profit Before Tax -99 -105 28 -77 54 15 26 55 97 -57
Provision for Tax -3 -2 12 -2 -1 -2 -1 -1 -1 -3
Profit After Tax -96 -103 16 -75 56 17 27 56 99 -54
Adjustments 6 0 -4 6 -1 -6 -2 17 -8 3
Profit After Adjustments -89 -103 12 -68 54 10 25 73 91 -50
Adjusted Earnings Per Share -1.2 -1.4 0.2 -0.9 0.7 0.1 0.3 1 1.2 -0.7

Delhivery Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 223 496 744 1023 1654 2781 3647 6882 7225 8142 8932 9423
Other Income 5 29 12 51 40 208 192 156 305 453 440 433
Total Income 228 524 756 1074 1694 2989 3838 7038 7530 8594 9372 9856
Total Expenditure 293 798 1327 1706 3355 2953 3769 7354 7677 8015 8556 8984
Operating Profit -65 -274 -571 -632 -1661 36 69 -316 -147 579 816 871
Interest 1 3 13 12 19 49 89 100 89 89 126 140
Depreciation 5 40 54 48 93 256 355 611 831 722 535 609
Exceptional Income / Expenses 0 0 0 0 0 0 -41 0 0 -22 -5 0
Profit Before Tax -71 -317 -638 -692 -1773 -269 -416 -1029 -1053 -244 157 121
Provision for Tax 0 0 0 0 0 0 0 -18 -45 5 -5 -6
Profit After Tax -71 -317 -638 -692 -1773 -269 -416 -1011 -1008 -249 162 128
Adjustments 0 -1 -0 0 0 0 0 0 0 0 0 10
Profit After Adjustments -71 -318 -638 -692 -1773 -269 -416 -1011 -1008 -249 162 139
Adjusted Earnings Per Share -7.5 -33.4 -66.9 -72.2 -185 -27.6 -25.5 -15.7 -13.8 -3.4 2.2 1.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 10% 9% 26% 45%
Operating Profit CAGR 41% 0% 87% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 21% 8% NA% NA%
ROE Average 2% -5% -11% -55%
ROCE Average 3% -4% -8% -42%

Delhivery Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 152 336 -1553 -2193 3413 3170 2837 5957 9177 9145 9432
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 1 1 9 36 100 132 118 114 40 2
Other Non-Current Liabilities 2 10 2384 2996 -33 404 676 674 594 922 1220
Total Current Liabilities 63 215 188 312 299 683 954 1502 1305 1347 1408
Total Liabilities 217 562 1020 1124 3714 4357 4598 8251 11191 11453 12063
Fixed Assets 15 98 64 103 191 744 1053 3052 2995 3354 3887
Other Non-Current Assets 28 96 472 266 245 1041 714 1244 1233 2149 2224
Total Current Assets 174 369 484 755 3278 2573 2830 3954 6963 5950 5952
Total Assets 217 562 1020 1124 3714 4357 4598 8251 11191 11453 12063

Delhivery Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 1 3 156 5 1663 80 276 195 295 303
Cash Flow from Operating Activities -104 -345 -431 -253 -330 -634 5 -241 -30 472 567
Cash Flow from Investing Activities -112 -180 -100 -103 -939 -933 338 -2742 -3411 -99 -104
Cash Flow from Financing Activities 216 547 684 206 2927 -17 -147 2902 3538 -366 -432
Net Cash Inflow / Outflow -0 22 153 -150 1657 -1583 196 -81 98 7 31
Closing Cash & Cash Equivalent 1 23 156 5 1663 80 276 195 295 303 336

Delhivery Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -7.51 -33.41 -66.92 -72.21 -184.97 -27.58 -25.46 -15.75 -13.83 -3.38 2.17
CEPS(Rs) -7.01 -29.1 -61.25 -67.21 0 -1.37 -3.74 -6.23 -2.42 6.41 9.35
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 14.66 33 -162.97 -234.93 341.93 307.36 159.56 87.23 118.61 116.42 120.03
Core EBITDA Margin(%) -31.52 -61.05 -78.45 -66.75 -102.84 -6.19 -3.37 -6.86 -6.25 1.56 4.21
EBIT Margin(%) -31.35 -63.34 -84.02 -66.49 -106.05 -7.9 -8.97 -13.51 -13.35 -1.92 3.17
Pre Tax Margin(%) -31.9 -64.04 -85.72 -67.65 -107.19 -9.67 -11.4 -14.96 -14.57 -3 1.76
PAT Margin (%) -31.9 -64.04 -85.72 -67.65 -107.19 -9.67 -11.4 -14.69 -13.95 -3.06 1.82
Cash Profit Margin (%) -29.79 -55.95 -78.5 -62.96 -101.55 -0.48 -1.68 -5.82 -2.44 5.8 7.8
ROA(%) -32.74 -81.47 -80.59 -64.55 -73.28 -6.66 -9.29 -15.74 -10.37 -2.2 1.38
ROE(%) -51.22 -140.04 0 0 -345.75 -8.57 -14.84 -24.64 -14.15 -2.89 1.85
ROCE(%) -42.09 -111.07 0 0 -264.72 -6.36 -9.96 -19.68 -12.29 -1.67 3.02
Receivable days 84.56 60.74 51.68 46.98 42.02 53.56 59.85 42.03 63.5 66.21 58.06
Inventory Days 0 0 0 6.05 4.37 2.66 2.19 1.36 1.13 0.8 0.67
Payable days 0 0 0 0 0 0 0 1353.51 0 0 0
PER(x) 0 0 0 0 0 0 0 0 0 0 117.33
Price/Book(x) 0 0 0 0 0 0 0 0 2.8 3.83 2.13
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) -0.07 0.06 -0.2 0.03 -0.94 -0.04 0.02 0.03 3.29 4 2.1
EV/Core EBITDA(x) 0.25 -0.11 0.25 -0.06 0.94 -3.1 0.89 -0.6 -162.12 56.17 22.95
Net Sales Growth(%) 0 122.47 50.03 37.56 61.66 68.12 31.14 88.74 4.98 12.68 9.71
EBIT Growth(%) 0 -349.49 -99.01 -8.86 -157.84 87.48 -48.97 -184.24 -3.7 83.83 281.44
PAT Growth(%) 0 -346.61 -100.84 -8.56 -156.14 84.83 -54.59 -143.18 0.32 75.27 165.06
EPS Growth(%) 0 -344.91 -100.3 -7.91 -156.14 85.09 7.7 38.15 12.17 75.54 164.29
Debt/Equity(x) 0.09 0.19 -0.01 -0.02 0.02 0.08 0.11 0.06 0.02 0.01 0
Current Ratio(x) 2.76 1.71 2.57 2.42 10.98 3.77 2.97 2.63 5.33 4.42 4.23
Quick Ratio(x) 2.76 1.71 2.57 2.37 10.9 3.74 2.94 2.62 5.32 4.41 4.22
Interest Cover(x) -57.34 -91.54 -49.43 -57.41 -93.3 -4.46 -3.69 -9.34 -10.85 -1.76 2.25
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0.01 0 0

Delhivery Shareholding Pattern

# Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Promoter 0 0 0 0 0 0 0 0 0 0
FII 65.57 65.5 62.71 63.63 61.16 55.03 53.74 51.99 52.95 51.64
DII 14.58 14.68 17.02 19.62 22.03 28.56 29 30.03 29.59 32.05
Public 19.84 19.82 20.27 16.75 16.81 16.41 17.26 17.98 17.46 16.3
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Delhivery News

Delhivery Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 0%.
  • Company has a low return on equity of -5% over the last 3 years.
  • Stock is trading at 3.2 times its book value.
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