DELHIVERY

Delhivery Limited

Technology-led logistics and supply chain services, run as a single network

Services›Services›Transport Services›Logistics Solution Provider

delhivery.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹407.50
Market cap
30,516 Cr
Stock P/E
326.2
P/B
3.14
ROE (FY26)
1.6%
ROCE (FY26)
2.9%
Operating margin (FY26)
-0.5%
Debt / equity (FY26)
0.0003
OCF / EBITDA (FY26)
142.4%
OCF / EBITDA (3Y)
170.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Delhivery provides technology-enabled logistics services in India to businesses, covering express parcels, part-truckload (PTL) freight, supply chain services and cross-border shipping.

Company snapshot

2ndBy market cap

Ranked among 34 companies in Logistics Solution Provider.

What we see

Positives
  • ✓171% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 1.5% — little room for error if costs rise.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,942 Cr2,194 Cr2,076 Cr2,172 Cr2,190 Cr2,378 Cr2,192 Cr2,294 Cr2,559 Cr2,805 Cr2,850 Cr2,931 Cr
Operating expenses (approx.)1,957 Cr2,085 Cr2,030 Cr2,075 Cr2,132 Cr2,276 Cr2,072 Cr2,145 Cr2,491 Cr2,596 Cr2,636 Cr2,789 Cr
EBITDA-16 Cr109 Cr46 Cr97 Cr57 Cr102 Cr119 Cr149 Cr68 Cr209 Cr214 Cr142 Cr
OPM %-0.8%5.0%2.2%4.5%2.6%4.3%5.4%6.5%2.7%7.4%7.5%4.9%
Other income101 Cr131 Cr119 Cr110 Cr120 Cr99 Cr112 Cr130 Cr92 Cr77 Cr59 Cr114 Cr
Interest20 Cr22 Cr27 Cr28 Cr31 Cr33 Cr34 Cr34 Cr39 Cr37 Cr34 Cr34 Cr
Depreciation171 Cr183 Cr200 Cr119 Cr131 Cr142 Cr142 Cr147 Cr178 Cr187 Cr183 Cr189 Cr
Profit before tax-105 Cr23 Cr-71 Cr53 Cr9 Cr24 Cr72 Cr90 Cr-53 Cr37 Cr67 Cr30 Cr
Tax %2.0%50.1%3.2%-2.6%-18.3%-4.9%-1.2%-1.5%5.1%-7.9%-7.6%-5.5%
Net profit-103 Cr12 Cr-68 Cr54 Cr10 Cr25 Cr73 Cr91 Cr-50 Cr40 Cr72 Cr32 Cr
EPS (₹)₹-1.41₹0.16₹-0.93₹0.74₹0.14₹0.34₹0.97₹1.22₹-0.68₹0.53₹0.97₹0.43

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,654 Cr2,781 Cr3,647 Cr6,882 Cr7,225 Cr8,142 Cr8,932 Cr10,508 CrSign in free for the trailing twelve months
Operating expenses (approx.)3,272 Cr2,953 Cr3,769 Cr7,354 Cr7,677 Cr8,015 Cr8,556 Cr9,868 CrSign in free for the trailing twelve months
EBITDA-1,618 Cr-172 Cr-123 Cr-472 Cr-452 Cr127 Cr376 Cr640 CrSign in free for the trailing twelve months
OPM %-97.9%-6.2%-3.4%-6.9%-6.3%1.6%4.2%6.1%Sign in free for the trailing twelve months
Other income41 Cr208 Cr192 Cr156 Cr305 Cr453 Cr440 Cr359 CrSign in free for the trailing twelve months
Interest36 Cr49 Cr89 Cr100 Cr89 Cr89 Cr126 Cr144 CrSign in free for the trailing twelve months
Depreciation170 Cr256 Cr355 Cr611 Cr831 Cr722 Cr535 Cr695 CrSign in free for the trailing twelve months
Profit before tax-1,783 Cr-269 Cr-416 Cr-1,029 Cr-1,053 Cr-244 Cr157 Cr140 CrSign in free for the trailing twelve months
Tax %—-0.0%—1.8%4.3%-1.9%-3.2%-8.6%Sign in free for the trailing twelve months
Net profit-1,783 Cr-269 Cr-416 Cr-1,011 Cr-1,008 Cr-249 Cr162 Cr153 CrSign in free for the trailing twelve months
EPS (₹)₹-47.22₹-5.22₹-8.05₹-16.98₹-14.09₹-3.40₹2.19₹2.04Sign in free for the trailing twelve months
Dividend payout %——————0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital0.96 Cr0.97 Cr2 Cr64 Cr73 Cr74 Cr75 Cr75 Cr
Reserves3,387 Cr3,169 Cr2,835 Cr5,893 Cr9,104 Cr9,071 Cr9,358 Cr9,612 Cr
Borrowings94 Cr257 Cr301 Cr353 Cr199 Cr126 Cr40 Cr3 Cr
Other liabilities581 Cr930 Cr1,460 Cr1,940 Cr1,813 Cr2,183 Cr2,591 Cr3,087 Cr
Total liabilities4,063 Cr4,357 Cr4,598 Cr8,251 Cr11,189 Cr11,453 Cr12,063 Cr12,777 Cr
Fixed assets (net)161 Cr236 Cr238 Cr623 Cr795 Cr932 Cr2,484 Cr2,914 Cr
CWIP0.88 Cr27 Cr77 Cr58 Cr22 Cr29 Cr33 Cr0.97 Cr
Investments1,155 Cr1,188 Cr1,128 Cr2,091 Cr2,094 Cr2,776 Cr3,578 Cr2,074 Cr
Loans & advances———9 Cr6 Cr4 Cr4 Cr3 Cr
Inventories23 Cr18 Cr26 Cr25 Cr19 Cr16 Cr16 Cr24 Cr
Trade receivables215 Cr601 Cr595 Cr990 Cr944 Cr1,430 Cr1,412 Cr1,371 Cr
Cash & bank1,663 Cr120 Cr276 Cr229 Cr295 Cr303 Cr336 Cr242 Cr
Other assets846 Cr2,168 Cr2,259 Cr4,226 Cr7,014 Cr5,963 Cr4,199 Cr6,148 Cr
Total assets4,063 Cr4,357 Cr4,598 Cr8,251 Cr11,189 Cr11,453 Cr12,063 Cr12,777 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-243 Cr-634 Cr5 Cr-241 Cr-27 Cr472 Cr567 Cr911 Cr
Cash from investing-939 Cr-933 Cr338 Cr-2,742 Cr-3,411 Cr-99 Cr-104 Cr-479 Cr
Cash from financing2,858 Cr-17 Cr-147 Cr2,902 Cr3,538 Cr-366 Cr-432 Cr-532 Cr
Net cash flow1,676 Cr-1,583 Cr196 Cr-81 Cr100 Cr8 Cr33 Cr-94 Cr
Free cash flow (OCF − Capex)-399 Cr-847 Cr-244 Cr-784 Cr-628 Cr-93 Cr84 Cr489 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %-50.2%-6.4%-10.4%-14.7%-10.3%-1.7%3.0%2.9%
ROE %-52.6%-8.5%-14.7%-17.0%-11.0%-2.7%1.7%1.6%
Debtor days4779595248645847
Inventory days52311111
Days payable3536444440363539
Cash conversion cycle17451810929239
OCF / EBITDA %—————n.m.151.0%142.4%
OCF / EBITDA % (3 years)——————n.m.170.8%
Debt / equity0.030.080.110.060.020.010.00420.0003
Current ratio8.543.772.972.645.424.424.232.59
Net debt / EBITDA—————-1.40-0.79-0.37