DELHIVERY

Delhivery share price & financials

Price
₹461.1
Market cap
₹34.9k Cr
Sector
Services
Calls analysed
7
Latest concall · Q1 FY27 · call held 08 Aug 2026

Delhivery Limited Q1 FY27

Revenue ₹3,000 cr +28%EBITDA ₹156 cr +5%Reported PAT ₹32 cr Gross Margin -300 bps

What went well

  • Overall revenues for Q1FY27 came in at nearly Rs.3000 Cr, up about 28% year-on-year compared to Q1FY26.
  • Express business delivered 322 million packages in Q1, which represents a growth of 55% year-on-year.
  • PTL network delivered close to about 542,000 tonnes of freight in Q1, representing a growth of 18% year-on-year.

What to watch

  • EBITDA came in at Rs.156 Cr, which is about a 5% growth year-on-year, significantly lower than revenue growth.
  • Gross margins were down 300 bps QoQ.
Read the full call →

What Delhivery Limited does

Delhivery runs an integrated logistics network across India that combines express parcel delivery, part-truckload (PTL) freight transportation, and supply chain services such as warehousing, fulfilment and inventory management for e-commerce, quick-commerce, FMCG, auto & industrial and consumer-durables clients. It earns by charging for shipments delivered and freight tonnage moved on its own transport network, and by managing clients' warehousing and distribution operations. The company is also scaling newer verticals — Delhivery Local (hyperlocal/intra-city delivery), Cross Border, Rapid, and Financial Services — on top of its owned fleet, sortation and warehousing infrastructure and proprietary technology stack (TransportOne TMS, Delhivery Maps, and an in-house AI/LLM suite) that runs order manifestation, mid-mile, last-mile and post-delivery operations.

Segments

  • Transport (Express + PTL)
  • Supply Chain Services (SCS)
  • Others
  • New initiatives
Pin-codes served
18,830 (of 19,500 India Post pin-codes)
Warehousing & network infrastructure
22.9 million sq ft
Team size
73,477 (permanent employees + contractual workers)
Fleet size (daily average)
20,160 vehicles
Gateways
129
Express delivery centres
4,088
Founded 2011Headquarters Gurugram, Haryana, India Company website

Guidance record · Q1 FY27

what the last two calls moved 13 tracked 4 delivered 0 missed 9 open
  • Express Parcel Service EBITDA Margin delivered said Q3 FY25 Promised: 17% to 20% (Steady State) Q1 FY27: Management reiterated the 16-18% service EBITDA margin target, expressing confidence in reaching the higher end of this range in H2 FY27.
  • Corporate Overheads as % of Revenue revised down said Q3 FY25 Promised: 6% (Medium Term) Q1 FY27: No specific update on corporate overheads as a % of revenue. The target remains at the revised level of ~7%.
  • Capex as % of Revenue on track said Q3 FY25 Promised: 3.5% to 4% (Long Term) Q1 FY27: No specific Capex intensity figure provided for Q1 FY27. The long-term target remains in place.

All 13 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 28.3%, net profit down 31.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue2,020 2,204 2,040 2,128 2,382 +18%2,633 +19%2,672 +31%2,730 +28%
EBITDA52 109 122 159 154 +196%236 +117%238 +95%175 +10%
Net profit19 38 -20 114 61 +221%74 +95%80 +500%78 −32%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −5.5% 1Y

₹400₹450₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 15 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹464.35 on 10 Sept 2025 → ₹439. High ₹520.3 (10 Jul 2026), low ₹378.5 (21 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
+1.1%
8 Aug
Q4 FY26
−4.2%
16 May
Q3 FY26
+3.3%
31 Jan
Q2 FY26
−8.7%
5 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 12.2% a year over 3 years, FY23 to FY26. Operating margin widened to 8.0%.

Year endingFY23FY24FY25FY26
Revenue₹6.9k Cr₹7.5k Cr₹8.3k Cr₹9.8k Cr
Operating profit₹-444 Cr₹177 Cr₹389 Cr₹787 Cr
Operating margin-6.4%2.4%4.7%8.0%
Interest₹89 Cr₹87 Cr₹125 Cr₹136 Cr
Depreciation₹732 Cr₹659 Cr₹525 Cr₹657 Cr
Net profit₹-937 Cr₹-168 Cr₹109 Cr₹329 Cr
Net margin-13.5%-2.3%1.3%3.4%
Cash from operations₹-40 Cr₹521 Cr₹528 Cr₹1.0k Cr
Free cash flow₹-628 Cr₹54 Cr₹4 Cr₹533 Cr
ROCE-8.0%0.0%3.0%4.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹2 Cr₹64 Cr₹73 Cr₹74 Cr₹75 Cr₹75 Cr
Reserves₹2.9k Cr₹6.1k Cr₹9.5k Cr₹9.5k Cr₹10.0k Cr₹10.0k Cr
Borrowings₹1.2k Cr₹1.1k Cr₹918 Cr₹1.2k Cr₹1.5k Cr₹1.4k Cr
Other liabilities₹607 Cr₹918 Cr₹1.0k Cr₹1.1k Cr₹1.4k Cr₹1.6k Cr
Total liabilities₹4.6k Cr₹8.1k Cr₹11.5k Cr₹11.8k Cr₹13.0k Cr₹13.1k Cr
Fixed assets₹1.0k Cr₹1.4k Cr₹1.5k Cr₹2.0k Cr₹2.8k Cr₹4.3k Cr
Capital work in progress₹77 Cr₹60 Cr₹23 Cr₹29 Cr₹89 Cr₹2 Cr
Investments₹1.2k Cr₹3.7k Cr₹3.9k Cr₹4.6k Cr₹5.8k Cr₹4.5k Cr
Other assets₹2.3k Cr₹2.9k Cr₹6.0k Cr₹5.2k Cr₹4.4k Cr₹4.3k Cr
Total assets₹4.6k Cr₹8.1k Cr₹11.5k Cr₹11.8k Cr₹13.0k Cr₹13.1k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +13.47 pp while FIIs trimmed −11.02 pp. The shareholder count shrank 1% to 1,75,609.

FIIs
41.9%
DIIs
43.1%
Public
15.0%

Since Jun 2025

  • DIIs +13.47 pp
  • FIIs −11.02 pp
  • Public −2.46 pp

How it drifted, 12 quarters

Over this window DIIs went from 14.7% to 43.1% — +28.4 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: FIIs 65.5%, DIIs 14.7%, Public 19.8%.Dec '23: FIIs 62.7%, DIIs 17.0%, Public 20.3%.Mar '24: FIIs 63.6%, DIIs 19.6%, Public 16.7%.Jun '24: FIIs 61.2%, DIIs 22.0%, Public 16.8%.Sep '24: FIIs 55.0%, DIIs 28.6%, Public 16.4%.Dec '24: FIIs 53.8%, DIIs 29.0%, Public 17.3%.Mar '25: FIIs 52.0%, DIIs 30.0%, Public 18.0%.Jun '25: FIIs 53.0%, DIIs 29.6%, Public 17.5%.Sep '25: FIIs 51.6%, DIIs 32.0%, Public 16.3%.Dec '25: FIIs 48.6%, DIIs 35.0%, Public 16.4%.Mar '26: FIIs 48.2%, DIIs 36.3%, Public 15.5%.Jun '26: FIIs 41.9%, DIIs 43.1%, Public 15.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 4 holders trimming and 9 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Delhivery Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Svf Doorbell (Cayman) Ltd VC / PE7.45%−0.70 pp
Mirae Asset Infrastructure Fund Mutual fund7.15%newly disclosed
SBI Arbitrage Opportunities Fund Mutual fund6.94%newly disclosed
HDFC Mutual Fund - HDFC BSE 500 Index Fund Mutual fund5.81%newly disclosed
Nippon Life India Trustee Ltd-A/C Nippon India Large Cap Fund Mutual fund3.12%+0.13 pp
Invesco India Aggressive Hybrid Fund Mutual fund2.83%newly disclosed
Fedex Express Transportation And Supply Chain Services (I) Pvt. Ltd. 2.79%unchanged
Nexus Ventures Iii Limited VC / PE2.05%−2.43 pp
Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund Mutual fund1.87%newly disclosed
Sundaram Mutual Fund A/C Sundaram Multi Cap Fund Mutual fund1.86%+0.26 pp
Sahil Barua 1.69%unchanged
Sapphire Equity Long-Short Sif AIF1.59%newly disclosed

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in DELHIVERY

Filings to Aug 2026

0 new, 5 added, 3 trimmed, 0 sold out — net −15.44 L shares (−1.8%).

Held by funds
₹3.8k Cr
28 schemes
Biggest holder
SBI Contra Fund
₹633 Cr · 1.3% of that fund
SchemeHoldingLast month
SBI Contra Fund SBI Mutual Fund₹633 Crheld
SBI Balanced Advantage Fund SBI Mutual Fund₹491 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹480 Crheld
SBI Large and Midcap Fund SBI Mutual Fund₹420 Crheld
SBI Multi Asset Allocation Fund SBI Mutual Fund₹394 Crheld
SBI ELSS Tax Saver Fund SBI Mutual Fund₹276 Crheld
Nippon India Multi Cap Fund Nippon India Mutual Fund₹265 Crheld
HDFC Multi Cap Fund HDFC Mutual Fund₹148 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

5 added, 3 trimmed — net −15.44 L shares (−1.8%)

Funds are sitting on
+13%
vs est. average cost
Held by funds
₹3.8k Cr
28 schemes · ≈ 11% of the company
Biggest holder
SBI Contra Fund
₹633 Cr · 1.3% of that fund

Shares held by these funds +11%

Aug '23 8.26 cr shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Delhivery Limited

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