NSE: DELHIVERY | BSE: 543529

Strong Performer, Getting Expensive

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469.15 -9.35 (-1.95%)

New 52W High in past week

2.7M NSE+BSE Volume

NSE 28 Aug, 2025 3:31 PM (IST)

35,032.3

Market Cap

Market Runner Up

0.9

Beta 1Year

Low volatility

Delhivery Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for DELHIVERY, BSE:543529 Delhivery Ltd.

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Delhivery Ltd.

04 Aug 2025

469.15

-1.95%

Delhivery (DELHIVER IN) Q1FY26 Result Update B2C volume...

Accumulate: Delhivery Ltd.

Recommendation Target

Prabhudas Lilladhar

Service EBITDA margin of PTL business zooms to 10.7% (3.2% in 1QFY25). We increase our FY26E/FY27E EBITDA estimates by 3.7%/2.0% amid strong performance in 1QFY26 but downgrade DELHIVER IN to ACCUMULATE (earlier BUY) with a TP of Rs466 given 34% appreciation in stock price since our last update report. While DELHIVER IN's top-line was a miss by 6.8% due to weak performance from SCS and cross border businesses, B2C shipment volume growth was back in double-digits after 5 quarters. Operating performance was...

Delhivery Ltd. has gained 29.22% in the last 3 Months

Delhivery Ltd.

02 Aug 2025

469.15

-1.95%

Structural tailwinds and strong execution warrant rerating; reiterate BUY

Buy: Delhivery Ltd.

Target

ICICI Securities Limited

In Q1FY26, Delhivery beat estimates in terms of growth and profitability. Express parcel volume grew 13.7% YoY, improving from FY25’s 2–3% volume growth trend.

Delhivery Ltd. has gained 29.22% in the last 3 Months

Delhivery Ltd.

02 Aug 2025

469.15

-1.95%

Positioned for scalable growth; eyes margin expansion and network synergies

Buy: Delhivery Ltd.

Target

Motilal Oswal

Delhivery reported a 6% YoY increase in revenue to INR22.9b in 1QFY26. EBITDA surged 53% YoY to INR1.5b, resulting in an improved EBITDA margin of 6.5%.

Number of FII/FPI investors increased from 318 to 345 in Jun 2025 qtr.

Delhivery Ltd.

09 Jul 2025

469.15

-1.95%

Built to scale, wired for speed!

Buy: Delhivery Ltd.

Motilal Oswal

Delhivery is India’s leading 3PL logistics player, catering to a wide network of ~19,000 pincodes. Its service offerings include express parcels, part truck load (PTL), supply chain services, and others.

Delhivery Ltd. has an average target of 475.40 from 5 brokers.

Delhivery Ltd.

06 Jun 2025

469.15

-1.95%

DELHIVERY LIMITED

Accumulate: Delhivery Ltd.

Geojit BNP Paribas

Delhivery's consolidated revenue saw a 5.6% YoY increase, reaching Rs. 2,192cr in Q4FY25, owing to increasing the Part Truckload (PTL) volumes. Indian operations contributed Rs. 2,191cr (+5.6% YoY). International revenue,...

Delhivery Ltd. is trading above all available SMAs

Delhivery Ltd.

19 May 2025

469.15

-1.95%

Delhivery (DELHIVER IN) Q4FY25 Result Update PTL margin...

Buy: Delhivery Ltd.

Recommendation Target

Prabhudas Lilladhar

Service EBITDA margin of PTL business zooms to 10.8% (2.2% in 4QFY24). our service EBITDA margin assumptions for PTL division amid stellar performance in 4QFY25. DELHIVER reported strong set of results with operating margin of 5.4% (PLe 3.7%; CE 3.4%) as service EBITDA margin of PTL business skyrocketed to 10.8% led by improvement in yield, fleet utilization and volumes. While growth challenges in B2C parcel division continue (flat volumes with 170bps reduction in service EBITDA margin), we believe acquisition of Ecom express will not only drive yields but also improve margins as operating leverage benefits would come into play with a wider network coverage. We...

Number of FII/FPI investors increased from 318 to 345 in Jun 2025 qtr.

Delhivery Ltd.

17 May 2025

469.15

-1.95%

Awaiting growth uptick in B2C segment

Buy: Delhivery Ltd.

Target

Emkay

Delhivery’s Q4FY25 print was a mixed bag, with revenue missing our estimate by 4% while EBITDA registered an 18% beat. The B2C segment continued to track its muted trajectory, growing only 3% YoY due to subdued demand and insourcing by Meesho.

Delhivery Ltd. has gained 83.23% in the last 6 Months

Delhivery Ltd.

06 Apr 2025

469.15

-1.95%

Sound acquisition at attractive valuations

Buy: Delhivery Ltd.

Target

Emkay

Delhivery announced the acquisition of Ecom Express – the second largest 3PL B2C operator, for a cash consideration of Rs14bn, valuing the company at 0.6x EV/sales (on FY24 numbers).

Delhivery Ltd. is trading above all available SMAs

Delhivery Ltd.

10 Feb 2025

469.15

-1.95%

DELHIVERY LIMITED

Hold: Delhivery Ltd.

Target

Prabhudas Lilladhar

Delhivery Ltd. has gained 29.22% in the last 3 Months

Delhivery Ltd.

09 Feb 2025

469.15

-1.95%

Margin disappoints given one-off surge in costs; better times likely ahead

Buy: Delhivery Ltd.

Target

ICICI Securities Limited

Service level EBITDA margin for Delhivery express parcel segment was ~500bps lower than what was realised in Q3FY24, despite a similar top line due to a one-off surge in intracity vehicle rental expenses (cINR 540mn differential).

Delhivery Ltd. has gained 83.23% in the last 6 Months

VOTE: Is Delhivery Ltd. worth buying?

185 Votes:

Buy 80.0%

Sell 11.89%

Hold 8.11%

RESEARCH REPORTS

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