India · Delayed Price · Currency is INR Delhivery Earnings Call Transcripts
Fiscal Year 2026
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Record FY 2026 with over INR 10,400 crores revenue, 1 billion parcels delivered, and strong margin expansion. Free cash flow turned positive a year ahead of plan, with robust growth in Express, PTL, and Supply Chain Solutions, and continued investment in tech and automation.
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Record Q3 results with 18% YoY revenue growth, 43% express volume growth, and service EBITDA margin at 15.1%. Margins and profitability reached all-time highs, driven by operational efficiency, technology, and disciplined capital allocation.
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Revenue grew 16% YoY to INR 2,546 crore, with express parcel shipments up 32.5% and PAT rising to INR 59 crore. Ecom Express integration was smooth, margins expanded across segments, and new business lines and financial services were launched.
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Q1 FY2026 delivered strong revenue and profit growth, led by Express Parcel and PTL segments, with successful Ecom Express integration boosting volumes and margins. Market share expanded, and further gains are expected in Q2 as integration benefits fully materialize.
Fiscal Year 2025
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Q4 FY25 saw record profitability, with margins expanding and all segments showing strong or stable performance. The PTL business led growth, and the Ecom Express acquisition is expected to further boost scale and efficiency. CapEx intensity is declining, and FY26 outlook remains positive.
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Q3 FY25 saw strong revenue and profitability, with service revenue up 8.6% QOQ and PAT doubling YOY. Express and PTL segments grew, while D2C and SME volumes surged. Industry headwinds persist, but margin and growth outlooks remain positive.
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Revenue grew 13% year-over-year with strong PTL and supply chain growth, while express parcel volumes remained flat. PAT turned positive, and working capital efficiency improved. New product launches and network expansion are expected to drive future growth.
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Revenue grew 13% year-over-year with improved profitability and strong growth in PTL and SCS segments. Adjusted EBITDA reached 1.7%, and PAT was INR 54 crore, aided by a depreciation policy change and ESOP reversal. The outlook remains positive with robust pipelines and stable margins.