Delhivery Q2 FY27: PAT ₹319.06 Cr & Rev ₹30,448.43 Cr

Investor Takeaways

Reported total income of ₹30,448.43 Cr for Q1 FY2026, up from ₹2,378.3 Cr in Q3 FY25.

Net profit of ₹319.06 Cr in Q1 FY2026, compared to ₹24.99 Cr in Q3 FY25.

₹15 million exceptional item impact in Q3 FY26 due to labor law changes.

Re-appointments of Managing Director Sahil Barua and Whole-time Director Kapil Bharati for five-year terms.

₹50 crore investment in Delhivery Financial Services Private Limited.

Completion of Ecom Express acquisition finalizing 99.87% stake by December 10, 2025.

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹30,448.43 Cr	Not available
Net Profit	₹319.06 Cr	Not available
EBITDA	Not available	Not available
EPS	Not available	Not available
OPM	Not available	Not available

What Changed

The filing reports Q1 FY2026 total income of ₹30,448.43 Cr and profit before tax of ₹781.99 million. It confirms the completion of the Ecom Express acquisition, finalizing 99.87% stake by December 10, 2025. Re-appointments of Sahil Barua and Kapil Bharati ensure leadership continuity. A ₹50 crore investment in Delhivery Financial Services Private Limited was disclosed. Exceptional items related to labor law changes impacted earnings by ₹15 million in Q3 FY26. Quarterly trend data shows revenue growth from ₹2,075.54 Cr in Q4 FY24 to ₹2,378.3 Cr in Q3 FY25, with profit turning positive from a loss of [amount context mismatch] Cr in Q4 FY24 to ₹24.99 Cr in Q3 FY25.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Delhivery Limited	1640.52	Not available	Not available	35,620.24
Adani Ports and Special Economic Zone Limited	30.83	7.75%	12.49%	4,13,583.7
InterGlobe Aviation Limited	27.38	N/A	N/A	1,66,838.2
GMR AIRPORTS LIMITED	-139.99	N/A	N/A	1,01,989.15

Delhivery's P/E ratio of 1640.52 significantly exceeds peers' ratios of 30.83 and 27.38, indicating market expectations of high future growth or elevated valuation concerns.

Risks & Concerns

No specific risks identified in this filing.

Exceptional item of ₹15 million in Q3 FY26 may indicate ongoing labor-related operational pressures.

High P/E ratio of 1640.52 suggests potential overvaluation relative to peers.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	2,378.3	24.99	4.31
Q2FY25	2,189.73	10.2	2.62
Q1FY25	2,172.3	54.36	4.47
Q4FY24	2,075.54	-68.47	2.21

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About Delhivery Limited (DELHIVERY)

Services · Transport Services · Listed on NSE

Market Cap: ₹35,620.24 Cr P/E: 1640.5

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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