DELHIVERY · NSE · Logistics Solution Provider
Delhivery Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Logistics
dear
low confidence
No valuation within 120 days; P/E 320 vs peers 37.7 (8th of 8); P/B 3.1 vs peers 3.0 (5th of 8).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model
What is Delhivery's share price today?
Delhivery last traded at ₹412.15 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 2.9% on the day, down 15.5% over a year. Its 52-week range is ₹374 to ₹524. The live price is in the app.
₹412.15
+2.9% today
−15.5% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
53 month-end closes, 31 May 2022 to 30 Sep 2026, adjusted for splits and bonuses
52-week range25% of the way up
Low ₹374High ₹524
What is Delhivery's market cap?
Delhivery's market capitalisation is about ₹30,009 crore: what it would cost to buy every share at today's price. That makes it the 38th largest small cap company we cover.
₹30,009 Cr
Small Cap38th largest small cap company
Share price₹412.15
×
Shares in issue73 crore
=
Market cap₹30,009 Cr
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: DELHIVERY
- ISIN
- INE148O01028
- Cap bucket
- Small Cap, 38th largest by market cap
- Industry (NSE)
- Services › Transport Services › Logistics Solution Provider
- Listed since
- 2022
- Futures and options
- Traded
Is Delhivery overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 320 vs peers 37.7 (8th of 8); P/B 3.1 vs peers 3.0 (5th of 8).
Valuation
Latest price and trailing 12 months
P/E
320.40
vs peers 37.7 · 8th of 8
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
3.10
vs peers 3.0 · 5th of 8
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹30,009 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
Not available
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is Delhivery a quality business?
Quality score 28.2, 7th of 9 in its peer set; WATCH on 24 of 30 flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
28.2
vs peers 55.8 · 7th of 9
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
24 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Profitability
ROE
0.9%
vs peers 9.7% · 7th of 8
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE
1.6%
vs peers 12.5% · 8th of 8
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin
0.8%
vs peers 4.5% · 6th of 8
Profit after everything, as a share of revenue. Learn more →
EPS
₹2.04
Trailing 12 months
Profit for each share over the last 12 months.
Inside the app
Get a sneak peek of Valarth
Has Delhivery made money for shareholders?
Not over these periods: −15.5% over one year.
Shareholder returns
5-year return
Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
+0.1%1M
−4.8%3M
−21.8%6M
−13.9%1Y
−15.5%3Y
−0.3%5Y
—— not available
Is Delhivery growing?
Revenue 3 years 13.0% a year; revenue 5 years 10.3% a year. History break: FY2022 step year (revenue +83%, shares +285%) in the 5-year growth figures.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
13.0% a year
vs peers 7.7% · 3rd of 9
Compound annual growth of revenue over three years. Learn more →
Profit 3 years
Not available
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years
10.3% a year
Compound annual growth of revenue over five years. Learn more →
↯
History break: FY2022 step year (revenue +83%, shares +285%) in the 5-year growth figures.
Profit 5 years
Not available
Compound annual growth of net profit over five years. Learn more →
↯
History break: FY2022 step year (revenue +83%, shares +285%) in the 5-year growth figures.
EPS 3 years
Not available
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years
Not available
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
↯
History break: FY2022 step year (revenue +83%, shares +285%) in the 5-year growth figures.
P/E vs own history
Not available
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
↯
History break: FY2022 step year (revenue +83%, shares +285%) in the 5-year growth figures.
How did Delhivery do last quarter?
Delhivery reported revenue of ₹2,931 Cr, up 17.6% on a year earlier and a net profit of ₹32 Cr, down 5.9% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Revenue, latest quarter₹2,931 Cr
+17.6% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹32 Cr
−5.9% on a year earlier
What was left for shareholders after every cost and tax.
How does Delhivery compare with its peers?
Compared with 8 Logistics Solution Provider; 8th of 8 on P/E; 7th of 9 on quality score.
Compared with 8 Logistics Solution Provider
8 companies
- Delhivery Ltd (this page)
- Container Corporation Of India Ltd
- Shadowfax Technologies Ltd
- Blue Dart Express Ltd
- Shiprocket Ltd
- Transport Corporation of India Ltd
- TVS Supply Chain Solutions Ltd
- VRL Logistics Ltd
- Mahindra Logistics Ltd
Delhivery against its peers
Largest 8 of 8 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
Delhivery Ltd₹30,009 Cr320.43.10.9%1.6%−15.5%
Container Corporation Of India Ltd₹33,664 Cr27.02.59.7%12.5%−16.8%
Shadowfax Technologies Ltd₹17,306 Cr98.03.86.9%7.1%+168.1%
Blue Dart Express Ltd₹10,822 Cr37.76.113.9%16.3%−17.6%
Shiprocket Ltd₹9,472 Cr————−9.2%
Transport Corporation of India Ltd₹6,542 Cr14.33.020.4%20.6%−29.0%
TVS Supply Chain Solutions Ltd₹5,495 Cr85.31.50.9%2.4%−1.1%
VRL Logistics Ltd₹4,971 Cr18.63.621.3%17.4%+6.1%
Mahindra Logistics Ltd₹3,975 Cr107.32.24.4%7.5%+13.7%
Peer median—37.73.09.7%12.5%−5.2%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns Delhivery?
Delhivery has no promoter holding; it is widely held.
Shareholding pattern
Latest filing, percent of shares
Promoters0.0%
The founders and controlling group.
Foreign institutions41.9%
Overseas funds investing through the FPI route.
Domestic institutions43.1%
Indian insurers, banks, pension and mutual funds together.
Mutual funds39.3%
Indian mutual fund schemes; part of domestic institutions.
Retail and others3.9%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What do analysts say about Delhivery?
20 analysts cover Delhivery, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.
Analyst consensus
20 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.
What does Delhivery do and what is it sensitive to?
Delhivery sells express parcel, part truckload, full truckload, supply chain and cross-border logistics services to e-commerce marketplaces, direct-to-consumer e-tailers, enterprises and SMEs, with over 40,000 active customers. Sensitive to: fuel prices and wage/asset inflation.
Business-model card
FY2025 · 50 verified
5Revenue
5Channels
4Regulators
4Reg. dependencies
6Sensitivities
6Costs
4Geographies
Delhivery sells express parcel, part truckload, full truckload, supply chain and cross-border logistics services to e-commerce marketplaces, direct-to-consumer e-tailers, enterprises and SMEs, with over 40,000 active customers. It earns freight and logistics fees recognised over the transit period, and reported revenue from operations of 89,319.01 million in FY25.
Revenue by segment
Year ended March 31, 2025 (consolidated, Group; geographical segments, revenue from operations)
Within India99.8%
Outside India0.2%
Revenue engine
5 verified
Express Parcel services
Parcel delivery revenue, recognised over the transit period using the input method (cost incurred relative to total expected cost). Interpretation: revenue scales with parcel volume and transit cost.
Part Truck Load (PTL) freight services
Part-truckload freight revenue, recognised over transit time on the same input-method basis as other delivery services.
Truck Load (TL) freight services
Full-truckload freight revenue, recognised over the contract transit period on the same input-method basis.
2 more statements
Supply chain services
Recognised over time on a monthly basis at the amount fixed in agreements, so it is contract-fee based rather than per shipment.
Cross-border services
International door-to-door and port-to-port parcel and freight shipping through partnerships with global air carriers and ocean liners, plus customs clearance and freight in the SAARC region.
Customers & channels
5 verified
Active customer base
Logistics and supply chain solutions sold to a broad base of e-commerce marketplaces, D2C e-tailers, enterprises and SMEs across FMCG, consumer durables, electronics, lifestyle, retail, automotive and manufacturing.
Largest customer concentration (16.5%)
Group-level (consolidated) figure: the largest customer's share of net sales. A loss of this customer would move a material slice of sales.
Few large customers drive a significant portion of business
Their outsourcing decisions across multiple services can reduce company business.
2 more statements
E-commerce customers
E-commerce customers contribute a significant share of volume and revenue; company growth is tied to e-commerce and commerce growth in India.
Captive logistics arms of large customers
Competition from customers' in-house logistics arms is a stated risk to business volume.
Regulators
4 verified
Customs Act, 1962 (Container Freight Station)
Listed as a sector law applicable to the company; governs the container freight station activity. Interpretation: relevant to cross-border and port-linked services.
Warehousing (Development and Regulation) Rules, 2010
Listed as a sector rule applicable to the company; governs warehousing, one of the services named in the segment description.
Multimodal Transportation of Goods Act, 1993
Listed as a sector law applicable to the company; governs multimodal carriage of goods, which relates to the company's integrated freight offering.
1 more statement
Motor Vehicles Act, 1988
Listed as a sector law applicable to the company; governs road vehicles used in its fleet and vehicle rental network.
Regulatory dependencies
4 verified
Government logistics policy and platforms
National Logistics Policy, Gati Shakti, ULIP and ICEGATE are described as integrating multimodal transport and reducing logistics costs. Interpretation: a change in these programmes would move customer demand for integrated, pan-India providers.
GST treatment of revenue
Interpretation: GST collected for government is excluded from revenue, so a change in GST rates or scope would alter reported revenue without changing the underlying service fee.
Changes in Indian taxation
The company states that tax changes could adversely affect business, cash flows and financial condition.
1 more statement
Labour laws and labour costs
The company states that labour cost increases or non-compliance with labour laws could affect operations and earnings. Interpretation: these raise costs in a manpower-heavy network.
Sensitivities
6 verified
Fuel prices and wage/asset inflation
Direction: rising fuel prices and inflation on wages and assets are stated to reduce cash flows and profitability. Interpretation: fuel and wage increases raise cost of freight and handling.
Consumption growth and consumer behaviour
Direction: adverse changes in consumption growth, or a shift of consumption to other channels, would reduce company business volume.
Operating leverage on volume
Direction: higher scale lets the company absorb fixed expenses and improve profitability; lower volume reverses this. The company states this as a mechanism.
3 more statements
Road, telecom and air cargo infrastructure
Direction: deficiencies in infrastructure could disrupt operations and technology systems.
Foreign exchange
Interpretation: revenue is essentially all in rupees and FX is not hedged, so exchange-rate moves have limited direct effect as stated by the company.
Interest rates
The company states that its net exposure to interest risk is negligible, because most financial assets and liabilities are non-interest bearing or fixed-rate.
Cost inputs
6 verified
Freight, handling and servicing costs
Largest operating cost line. Company states the ratio to revenue fell to 73.16% in FY25 from 73.34% in FY24 on higher network utilisation and cost optimisation.
Volume-driven freight cost growth
Freight cost rises with Express Parcel volumes, Part Truckload tonnage, supply chain revenue and cross-border network expansion.
Network partners and contractual manpower
First mile, mid mile, last mile services, contractual manpower and fleet are delivered by third parties. Interpretation: these partners are a variable cost base and a supply risk.
3 more statements
Employee benefits expense
Employee cost as a share of revenue from contracts with customers. The company states share-based payment expense fell 49.18% in FY25.
Fuel and labour in delivery cost
Company states costs are incurred evenly over the service term, such as fuel, labour and logistics costs.
Lease and vehicle financing
Finance cost rose 42.10% to 1,257.87 million, driven by interest on lease liabilities from network expansion; vehicles are partly financed by borrowings.
Geographies
4 verified
India
Company states it has significant operations in India, so its segment reporting is treated as a single India-based segment in standalone statements.
Pan-India network
Services provided in 18,833 PIN codes as of March 31, 2025, via a network that shares infrastructure across business lines.
States and Union Territories served
The company reports operations across 36 states and union territories.
1 more statement
Exports share of turnover
Cross-border exports are a small share of turnover; the company reports 0.5% of total turnover from exports.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (8 Aug 2026).
Change log
8 entries · newest first
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
- Corporate actionAnnual General Meeting.
- Corporate actionAnnual General Meeting.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 53 of 36 months of P/E history.
- FlagsWATCH on 24 of 30 flags judged; 1 red; 6 could not be judged.
- History breakFY2022 step year (revenue +83%, shares +285%) in the 5-year growth figures: those figures span the accounts before and after it.
- Data gapsDividend yield, PEG (vendor), PEG on our 3-year EPS growth, Business quality, 5-year return, Wealth destroyer and 5 more: not available yet.
What this page rests on
✓8 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓53 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 50 verified
Questions people ask
What is Delhivery's share price today?
Delhivery last traded at ₹412.15 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 2.9% on the day, down 15.5% over a year. Its 52-week range is ₹374 to ₹524. The live price is in the app.
What is Delhivery's market cap?
Delhivery's market capitalisation is about ₹30,009 crore: what it would cost to buy every share at today's price. That makes it the 38th largest small cap company we cover.
Is Delhivery Ltd a large cap, mid cap or small cap?
Delhivery Ltd (DELHIVERY) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Delhivery Ltd's P/E ratio?
320.40, vs peers 37.7 · 8th of 8. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is Delhivery Ltd overvalued?
Dear, with low confidence: no valuation within 120 days; P/E 320 vs peers 37.7 (8th of 8); P/B 3.1 vs peers 3.0 (5th of 8).
How does Delhivery Ltd make money?
Delhivery sells express parcel, part truckload, full truckload, supply chain and cross-border logistics services to e-commerce marketplaces, direct-to-consumer e-tailers, enterprises and SMEs, with over 40,000 active customers. It earns freight and logistics fees recognised over the transit period, and reported revenue from operations of 89,319.01 million in FY25.
Who are Delhivery Ltd's peers?
Compared with 8 Logistics Solution Provider: Container Corporation Of India Ltd, Shadowfax Technologies Ltd, Blue Dart Express Ltd, Shiprocket Ltd, Transport Corporation of India Ltd and 3 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did Delhivery do last quarter?
Delhivery reported revenue of ₹2,931 Cr, up 17.6% on a year earlier and a net profit of ₹32 Cr, down 5.9% in the Jun 2026 quarter.
Who owns Delhivery?
Delhivery has no promoter holding; it is widely held.
What do analysts say about Delhivery?
20 analysts cover Delhivery, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.