Delhivery

₹450.1 -2.8 | 0.6%

WEBSITE BSE:543529 NSE : DELHIVERY 13 May, 15:58

Market Cap ₹33168 Cr.

Stock P/E -96.9

P/B 3.6

Current Price ₹450.1

Book Value ₹ 123.9

Face Value 1

52W High ₹488.1

Dividend Yield 0%

52W Low ₹ 341.1

Edit Ratio

Delhivery Research see more...

Equity Research - Delhivery Limited

Overview Inc. Year: 2011Industry: Courier Services

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 fraud detection services. It offers transport offerings, such as on-call for shipping, same-day/next-day delivery, time-defined/slot-based delivery, and returns management offerings; special services, together with product alternative/change, large/oversize order delivery, high-value product delivery, and HAZMAT/risky goods shipping offerings; and technology services, which include real-time tracking and manage, consignee address validation, fraud detection, flexible payment on shipping offerings. The agency was established in 2011 and is based in Gurugram, India.

Delhivery Share Price

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Peer Comparison

Delhivery Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	1498	1995	2072	1746	1796	1824	1860	1930	1942	2194
Other Income	30	24	55	49	87	94	75	101	101	131
Total Income	1528	2019	2127	1795	1883	1918	1934	2031	2043	2325
Total Expenditure	2016	1941	2009	2000	1934	1897	1846	1943	1957	2085
Operating Profit	-488	78	119	-205	-50	21	88	88	86	240
Interest	26	28	23	25	24	21	19	20	20	22
Depreciation	120	187	223	181	200	207	242	167	171	183
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	-8
Profit Before Tax	-633	-136	-127	-411	-274	-208	-173	-99	-105	28
Provision for Tax	2	-9	-11	-6	-12	-13	-14	-3	-2	12
Profit After Tax	-635	-127	-117	-405	-262	-194	-159	-96	-103	16
Adjustments	0	0	-3	6	8	-1	1	6	0	-4
Profit After Adjustments	-635	-127	-120	-399	-254	-196	-159	-89	-103	12
Adjusted Earnings Per Share	-33.9	-5.8	-1.9	-5.5	-3.5	-2.7	-2.2	-1.2	-1.4	0.2

Delhivery Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	223	496	744	1023	1654	2781	3647	6882	7225	7926
Other Income	5	29	12	51	40	208	192	156	305	408
Total Income	228	524	756	1074	1694	2989	3838	7038	7530	8333
Total Expenditure	293	798	1327	1706	3355	2953	3769	7354	7677	7831
Operating Profit	-65	-274	-571	-632	-1661	36	69	-316	-147	502
Interest	1	3	13	12	19	49	89	100	89	81
Depreciation	5	40	54	48	93	256	355	611	831	763
Exceptional Income / Expenses	0	0	0	0	0	0	-41	0	0	-8
Profit Before Tax	-71	-317	-638	-692	-1773	-269	-416	-1029	-1053	-349
Provision for Tax	0	0	0	0	0	0	0	-18	-45	-7
Profit After Tax	-71	-317	-638	-692	-1773	-269	-416	-1011	-1008	-342
Adjustments	0	-1	-0	0	0	0	0	0	0	3
Profit After Adjustments	-71	-318	-638	-692	-1773	-269	-416	-1011	-1008	-339
Adjusted Earnings Per Share	-7.5	-33.4	-66.9	-72.2	-185	-27.6	-25.5	-15.7	-13.8	-4.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	5%	37%	48%	0%
Operating Profit CAGR	0%	NAN%	0%	0%
PAT CAGR	0%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	22%	NA%	NA%	NA%
ROE Average	-14%	-18%	-82%	-67%
ROCE Average	-12%	-14%	-63%	-52%

Delhivery Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	152	336	-1553	-2193	3413	3170	2837	5957	9177
Minority's Interest	0	0	0	0	0	0	0	0	0
Borrowings	0	1	1	9	36	100	132	118	114
Other Non-Current Liabilities	2	10	2384	2996	-33	404	676	674	594
Total Current Liabilities	63	215	188	312	299	683	954	1502	1281
Total Liabilities	217	562	1020	1124	3714	4357	4598	8251	11166
Fixed Assets	15	98	64	103	191	744	1053	3052	2995
Other Non-Current Assets	28	96	472	266	245	1041	714	1244	1233
Total Current Assets	174	369	484	755	3278	2573	2830	3954	6939
Total Assets	217	562	1020	1124	3714	4357	4598	8251	11166

Delhivery Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	1	1	3	156	5	1663	80	276	195
Cash Flow from Operating Activities	-104	-345	-431	-253	-330	-634	5	-241	-27
Cash Flow from Investing Activities	-112	-180	-100	-103	-939	-933	338	-2742	-3411
Cash Flow from Financing Activities	216	547	684	206	2927	-17	-147	2902	3538
Net Cash Inflow / Outflow	-0	22	153	-150	1657	-1583	196	-81	100
Closing Cash & Cash Equivalent	1	23	156	5	1663	80	276	195	295

Delhivery Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-7.51	-33.41	-66.92	-72.21	-184.97	-27.58	-25.46	-15.75	-13.83
CEPS(Rs)	-7.01	-29.1	-61.25	-67.21	0	-1.37	-3.74	-6.23	-2.42
DPS(Rs)	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	118.25
Core EBITDA Margin(%)	-31.52	-61.05	-78.45	-66.75	-102.84	-6.19	-3.37	-6.86	-6.25
EBIT Margin(%)	-31.35	-63.34	-84.02	-66.49	-106.05	-7.9	-8.97	-13.51	-13.35
Pre Tax Margin(%)	-31.9	-64.04	-85.72	-67.65	-107.19	-9.67	-11.4	-14.96	-14.57
PAT Margin (%)	-31.9	-64.04	-85.72	-67.65	-107.19	-9.67	-11.4	-14.69	-13.95
Cash Profit Margin (%)	-29.79	-55.95	-78.5	-62.96	-101.55	-0.48	-1.68	-5.82	-2.44
ROA(%)	-32.74	-81.47	-80.59	-64.55	-73.28	-6.66	-9.29	-15.74	-10.38
ROE(%)	-51.22	-140.04	0	0	-345.75	-8.57	-14.84	-24.64	-14.18
ROCE(%)	-42.09	-111.07	0	0	-264.72	-6.36	-9.96	-19.68	-12.29
Receivable days	84.56	60.74	51.68	46.98	42.02	53.56	59.85	42.03	48.85
Inventory Days	0	0	0	6.05	4.37	2.66	2.19	1.36	1.13
Payable days	0	0	0	0	0	0	0	1353.51	0
PER(x)	0	0	0	0	0	0	0	0	0
Price/Book(x)	0	0	0	0	0	0	0	0	2.81
Dividend Yield(%)	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
EV/Core EBITDA(x)	0.25	-0.11	0.25	-0.06	0.94	-3.1	0.89	-0.6	-162.12
Net Sales Growth(%)	0	122.47	50.03	37.56	61.66	68.12	31.14	88.74	4.98
EBIT Growth(%)	0	-349.49	-99.01	-8.86	-157.84	87.48	-48.97	-184.24	-3.7
PAT Growth(%)	0	-346.61	-100.84	-8.56	-156.14	84.83	-54.59	-143.18	0.32
EPS Growth(%)	0	-344.91	-100.3	-7.91	-156.14	85.09	7.7	38.15	12.17
Debt/Equity(x)	0.09	0.19	-0.01	-0.02	0.02	0.08	0.11	0.06	0.02
Current Ratio(x)	2.76	1.71	2.57	2.42	10.98	3.77	2.97	2.63	5.42
Quick Ratio(x)	2.76	1.71	2.57	2.37	10.9	3.74	2.94	2.62	5.4
Interest Cover(x)	-57.34	-91.54	-49.43	-57.41	-93.3	-4.46	-3.69	-9.34	-10.85
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0.01

Delhivery Shareholding Pattern

#	Sep 2019	Mar 2020	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	48.88	0	0	0	0	0	0	0	0	0
FII	0	0	8.02	74.24	69.12	67.62	65.57	65.5	62.71	63.63
DII	0	0	6.84	7.11	11.44	13.03	14.58	14.68	17.02	19.62
Public	51.12	100	85.15	18.65	19.44	19.35	19.84	19.82	20.27	16.75
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2019	Mar 2020	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.05	0	0	0	0	0	0	0	0	0
FII	0	0	5.81	53.88	50.33	49.28	47.95	48.07	46.09	46.88
DII	0	0	4.95	5.16	8.33	9.49	10.66	10.77	12.51	14.46
Public	0.05	0.1	61.69	13.54	14.15	14.1	14.51	14.54	14.9	12.34
Others	0	0	0	0	0	0	0	0	0	0
Total	0.1	0.1	72.45	72.57	72.81	72.87	73.12	73.38	73.5	73.68

Pros

Debtor days have improved from 1353.51 to 0days.
Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 0%.
Company has a low return on equity of -18% over the last 3 years.
Stock is trading at 3.6 times its book value.

* 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.

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Delhivery

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Delhivery Research see more...

Overview Inc. Year: 2011Industry: Courier Services

Delhivery Share Price

Alert Data

Quarterly Price

Peer Comparison

Delhivery Quarterly Results

Delhivery Profit & Loss

Growth Rates

Delhivery Balance Sheet

Delhivery Cash Flow

Delhivery Ratios

Delhivery Shareholding Pattern

Delhivery News

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