Delhivery Limited

Sector: Logistics, Express Delivery, Supply Chain  |  HQ: Gurugram, Haryana  |  Founded: 2011  |  Employees: ~62,000

Listed as: NSE / BSE listed  |  NSE / BSE  |  Ticker: DELHIVERY.NS  |  Website →

Key people

• Sahil Barua (CEO and MD)
• Sandeep Barasia (Chief Business Officer)

Company overview

Delhivery Limited is India's largest integrated logistics company by revenue, with end-to-end services across express parcel, part-truckload, full-truckload, supply chain services, and cross-border. Founded in 2011 in Delhi by Sahil Barua and team, Delhivery completed its NSE IPO in May 2022 and is one of the most-watched new-economy listed companies on Indian markets. FY25 revenue approximately ₹8,650 crore. The company operates 24 automated sorting centres, 90+ gateways, and 3,500+ delivery centres across India.

Business model

Five segments: Express Parcel (the largest by revenue), Part-Truckload (PTL), Truckload (TL), Supply Chain Services (SCS), and Cross-Border. The express parcel business benefits from e-commerce GMV growth and quick-commerce dark store fulfilment.

Operating segments

Recent developments

May 2026

Delhivery continues to expand its service ecosystem through strategic diversification. The company incorporated a wholly owned fintech subsidiary in May 2026 to extend financial services offerings, signalling a move beyond core logistics [2]. Separately, Delhivery entered a long-term EV partnership with Zen Mobility in April 2026 for pan-India deployment, aimed at transforming last-mile logistics operations through electric vehicles [4][8][9].

On the financial front, Q4 FY26 results indicate improving profitability trends, though analyst reports note that valuation remains stretched [3]. The company continues investor engagement, participating in a Macquarie Asia Conference and non-deal roadshow in May 2026 [10]. Record shipment volumes of ₹19,500 crore were achieved, driving a 4.29% share price increase in October 2025 [7].

Sources (7)

1. Delhivery Incorporates Wholly Owned Fintech Subsidiary to Expand Financial Services Offerings - scanx.trade · scanx.trade · Mon, 18 May 2026
2. Delhivery Q4 FY26: Profitability Gains Momentum, But Valuation Remains Stretched - Markets Mojo · Markets Mojo · Wed, 20 May 2026
3. Zen Mobility and Delhivery Partner for Nationwide EV Deployment - Entrepreneur India · Entrepreneur India · Thu, 23 Apr 2026
4. Delhivery Shares Up 4.29% on Record ₹19,500 Cr Shipments - HDFC Sky · HDFC Sky · Mon, 06 Oct 2025
5. Zen Mobility and Delhivery Announce EV Partnership for Pan-India Deployment - ThePrint · ThePrint · Thu, 23 Apr 2026
6. Zen Mobility and Delhivery sign long-term EV partnership to transform last-mile logistics across India - Business Review Live · Business Review Live · Thu, 23 Apr 2026
7. Delhivery to Participate in Macquarie Asia Conference and Non-Deal Roadshow in May 2026 - scanx.trade · scanx.trade · Wed, 13 May 2026

Financial performance and recent trajectory

FY25 revenue ₹8,650 crore with EBITDA margin transitioning from negative to positive in the 2-4 percent range as scale absorbs fixed costs.

Stock performance and shareholder context

Delhivery (NSE: DELHIVERY, BSE: 543529). SoftBank, Carlyle, Times Internet, Steadview Capital among large institutional shareholders.

12-month price trajectory

Monthly closes over the last 12 months. Source: Yahoo Finance.

Competitive position

Largest by integrated revenue. Express Parcel competes with Ecom Express, XpressBees, Shadowfax, BlueDart, DTDC. PTL competes with VRL Logistics, TCI Freight, Mahindra Logistics.

Key risks

E-commerce GMV growth pace; pricing competition in express parcel; technology investment ROI; profitability ramp execution.

Outlook

Path to sustained profitability and the cross-border opportunity through FY28 are the key catalysts.

KAMRIT point of view

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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.