BSE: 543529 | NSE: DELHIVERY | Courier Services | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Delhivery Ltd is a average quality company.
The key valuation ratios of Delhivery Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Delhivery Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -42.1% | -110.6% | 0% | 0% | -254.5% | -6.8% | -8.1% | -15.9% | -8.9% | -0.8% | - |
| Value Creation Index ⓘ | -4.7 | -10.8 | NA | NA | -23.6 | -1.6 | -1.7 | -2.1 | -1.8 | -1.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 223 | 496 | 738 | 1,019 | 1,654 | 2,777 | 3,500 | 5,911 | 6,659 | 7,454 | 7,932 |
| Sales YoY Gr. | - | 122.6% | 48.8% | 38.1% | 62.2% | 67.9% | 26% | 68.9% | 12.7% | 12% | - |
| Adj EPS ⓘ | -7.5 | -33.2 | -66.3 | -71.8 | -185.1 | -30.5 | -21.8 | -10.4 | -11.2 | -2 | 0.6 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 14.7 | 33.2 | -162.1 | -233.2 | 342.8 | 308 | 163.3 | 90.4 | 124 | 122.9 | 131.5 |
| Adj Net Profit ⓘ | -71.1 | -317 | -632 | -688 | -1,774 | -297 | -363 | -666 | -814 | -146 | 48 |
| Cash Flow from Ops. ⓘ | -104 | -346 | -430 | -218 | -337 | -643 | 13.5 | -441 | -40.3 | 521 | - |
| Debt/CF from Ops. ⓘ | -0.1 | -0.2 | -0 | -0.2 | -0.3 | -0.4 | 22.4 | -0.7 | -4.9 | 0.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 47.7% | 35.1% | 28.7% | 12% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | 26.6% | -18.6% | -9% | -0.9% | ||||
| Share Price | - | - | - | -9.8% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -46.7 | -129.3 | 104.8 | 37 | -285.1 | -9 | -12 | -14.7 | -10.4 | -1.5 | 0.5 |
| Op. Profit Mgn % ⓘ | -31.4 | -60.7 | -78.3 | -66.4 | -102.7 | -6.1 | -1.4 | -2.7 | -5.8 | 2.4 | 4.2 |
| Net Profit Mgn % ⓘ | -31.9 | -63.9 | -85.6 | -67.5 | -107.3 | -10.7 | -10.4 | -11.3 | -12.2 | -2 | 0.6 |
| Debt to Equity ⓘ | 0.1 | 0.2 | -0 | -0 | 0 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 0 | 147 | 222 | 240 | 161 | 177 | 212 | 149 | 224 | 252 | 134 |
| Cash Conv. Cycle ⓘ | 0 | 18 | 12 | -56 | -32 | 28 | 27 | 9 | 22 | 27 | 102 |
Return on Equity has increased versus last 3 years average to 0.50%
Sales growth is growing at healthy rate in last 3 years 28.66%
Sales growth is good in last 4 quarters at 14.10%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.6 | 0.1 |
| TTM Sales (₹ Cr.) | 7,932 | 8,632 |
| BVPS (₹.) ⓘ | 131.5 | 124.7 |
| Reserves (₹ Cr.) ⓘ | 9,070 | 9,192 |
| P/BV ⓘ | 2.66 | 2.80 |
| PE ⓘ | 543.52 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 326.00 / 488.05 |
| All Time Low / High (₹) | 291.00 / 708.45 |
| Market Cap (₹ Cr.) | 25,954 |
| Equity (₹ Cr.) | 74.3 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 135.3 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 223 | 496 | 738 | 1,019 | 1,654 | 2,777 | 3,500 | 5,911 | 6,659 | 7,454 |
| Operating Expenses ⓘ | 293 | 797 | 1,316 | 1,697 | 3,352 | 2,947 | 3,548 | 6,370 | 7,048 | 7,277 |
| Manufacturing Costs | 16 | 448 | 899 | 58 | 79 | 942 | 1,297 | 2,184 | 2,847 | 2,968 |
| Material Costs | 0 | 0 | 0 | 0 | 0 | 6 | 10 | 172 | 2 | 0 |
| Employee Cost | 49 | 165 | 200 | 279 | 355 | 486 | 555 | 1,177 | 1,217 | 1,309 |
| Other Costs ⓘ | 228 | 185 | 218 | 1,359 | 2,918 | 1,513 | 1,686 | 2,837 | 2,982 | 3,000 |
| Operating Profit ⓘ | -70 | -301 | -578 | -677 | -1,698 | -169 | -48 | -459 | -389 | 178 |
| Operating Profit Margin (%) | -31.4% | -60.7% | -78.3% | -66.4% | -102.0% | -6.1% | -1.4% | -7.8% | -5.8% | 2.4% |
| Other Income ⓘ | 5 | 27 | 13 | 51 | 41 | 209 | 199 | 170 | 331 | 475 |
| Interest ⓘ | 1 | 3 | 13 | 12 | 19 | 49 | 89 | 94 | 86 | 88 |
| Depreciation ⓘ | 5 | 40 | 53 | 47 | 92 | 254 | 353 | 478 | 657 | 659 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | -13 | -20 | -66 | -2 | -11 | -74 |
| Profit Before Tax ⓘ | -71 | -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -71 | -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 |
| PAT Margin (%) | -31.9% | -63.9% | -85.4% | -67.1% | -107.0% | -10.2% | -10.2% | -14.6% | -12.2% | -2.3% |
| Adjusted EPS (₹) | -7.5 | -33.2 | -66.2 | -71.4 | -185.0 | -29.3 | -21.8 | -13.5 | -11.2 | -2.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 148 | 332 | -1,545 | -2,235 | 3,324 | 3,027 | 2,702 | 5,801 | 9,036 | 9,052 |
| Share Capital ⓘ | 11 | 17 | 1 | 1 | 40 | 40 | 37 | 64 | 73 | 74 |
| Reserves ⓘ | 138 | 315 | -1,546 | -2,236 | 3,284 | 2,987 | 2,665 | 5,737 | 8,963 | 8,979 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 14 | 63 | 11 | 41 | 64 | 190 | 216 | 214 | 114 | 40 |
| Long Term Debt | 0 | 1 | 1 | 9 | 36 | 100 | 132 | 114 | 114 | 40 |
| Short Term Debt | 14 | 63 | 10 | 32 | 29 | 91 | 84 | 100 | 0 | 0 |
| Trade Payables | 37 | 114 | 132 | 185 | 155 | 270 | 413 | 673 | 783 | 770 |
| Others Liabilities ⓘ | 17 | 54 | 2,428 | 3,149 | 178 | 856 | 1,290 | 1,442 | 1,592 | 1,980 |
| Total Liabilities ⓘ | 217 | 563 | 1,027 | 1,139 | 3,722 | 4,344 | 4,621 | 8,130 | 11,526 | 11,843 |
Fixed Assets | ||||||||||
| Gross Block | 20 | 138 | 153 | 234 | 406 | 1,198 | 1,541 | 2,371 | 2,854 | 3,602 |
| Accumulated Depreciation | 6 | 45 | 93 | 134 | 217 | 458 | 492 | 934 | 1,317 | 1,637 |
| Net Fixed Assetsⓘ | 15 | 93 | 60 | 100 | 189 | 740 | 1,049 | 1,437 | 1,536 | 1,965 |
| CWIP ⓘ | 5 | 1 | 0 | 6 | 1 | 27 | 77 | 60 | 23 | 29 |
| Investmentsⓘ | 57 | 122 | 211 | 284 | 1,160 | 1,197 | 1,163 | 3,706 | 3,945 | 4,615 |
| Inventories | 0 | 0 | 0 | 17 | 23 | 18 | 26 | 25 | 19 | 16 |
| Trade Receivables | 52 | 113 | 95 | 162 | 212 | 602 | 573 | 775 | 1,402 | 1,288 |
| Cash Equivalents | 41 | 47 | 157 | 5 | 1,660 | 395 | 254 | 178 | 602 | 362 |
| Others Assetsⓘ | 48 | 187 | 505 | 565 | 477 | 1,367 | 1,480 | 1,949 | 3,998 | 3,568 |
| Total Assets ⓘ | 217 | 563 | 1,027 | 1,139 | 3,722 | 4,344 | 4,621 | 8,130 | 11,526 | 11,843 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -104 | -346 | -430 | -218 | -337 | -643 | 13 | -441 | -40 | 521 |
| PBT ⓘ | -71 | -317 | -631 | -684 | -1,781 | -284 | -356 | -864 | -812 | -168 |
| Adjustment ⓘ | 1 | 26 | 452 | 504 | 1,638 | 228 | 465 | 1,129 | 788 | 688 |
| Changes in Working Capital ⓘ | -39 | -79 | -236 | -32 | -171 | -542 | -78 | -699 | 55 | 27 |
| Tax Paid ⓘ | 0 | 0 | -15 | -6 | -23 | -45 | -17 | -7 | -72 | -26 |
| Cash Flow From Investing Activity ⓘ | -112 | -181 | -101 | -139 | -935 | -934 | 286 | -2,895 | -3,428 | -147 |
| Capex | -21 | -115 | -20 | -93 | -157 | -209 | -212 | -531 | -588 | -468 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | -811 | 515 | -762 | -2,907 | 129 |
| Others ⓘ | -91 | -66 | -81 | -46 | -778 | 85 | -18 | -1,602 | 66 | 191 |
| Cash Flow From Financing Activityⓘ | 216 | 547 | 684 | 206 | 2,927 | -17 | -112 | 3,247 | 3,557 | -364 |
| Net Proceeds from Shares ⓘ | 209 | 507 | 744 | 174 | 2,890 | 1 | 45 | 3,390 | 3,910 | 5 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 101 | 32 | 22 | -22 | -74 |
| Interest Paid ⓘ | 0 | -2 | -8 | -3 | -9 | -49 | -21 | -93 | -86 | -87 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 7 | 42 | -52 | 35 | 46 | -71 | -168 | -72 | -246 | -208 |
| Net Cash Flow ⓘ | 0 | 21 | 154 | -151 | 1,655 | -1,594 | 187 | -89 | 88 | 11 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -51.22 | -139.27 | N/A | N/A | -339.31 | -9.06 | -12.6 | -20.4 | -10.95 | -1.86 |
| ROCE (%) | -42.09 | -110.55 | N/A | N/A | -254.46 | -6.78 | -8.09 | -15.91 | -8.94 | -0.82 |
| Asset Turnover Ratio | 1.03 | 1.27 | 0.93 | 0.94 | 0.68 | 0.69 | 0.78 | 0.93 | 0.68 | 0.64 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | Working Capital Days |
| Receivable Days | 85 | 61 | 51 | 46 | 41 | 53 | 61 | 42 | 60 | 66 |
| Inventory Days | 0 | 0 | 0 | 6 | 4 | 3 | 2 | 2 | 1 | 1 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,151 | 0 | 0 |
The company was incorporated as ‘SSN Logistics Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana, at New Delhi (RoC) on June 22, 2011. Subsequently, the name of the company was changed to “Delhivery Private Limited”, pursuant to a fresh certificate of incorporation issued by the RoC on December 8, 2015. On the conversion of the Company to a public limited company, pursuant to a resolution passed by its Shareholders on September 29, 2021, the name of the company was changed to “Delhivery Limited” and a fresh certificate of incorporation dated October 12, 2021 was issued by the RoC.
Delhivery is the largest and fastest growing fully-integrated logistics player in India. The company provided supply chain solutions to a diverse base of Active Customers (excluding those serviced by Spoton) such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across several verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and manufacturing. This is achieved through high quality logistics infrastructure and network engineering, a vast network of domestic and global partners and significant investments in automation, all of which are orchestrated by the company’s self-developed logistics operating system that is guided in real-time by deep sources of proprietary network and environmental data. Together, these create powerful, intersecting flywheels that drive strong network synergies within and across its services and enhance its value proposition to customers.
Business area of the company
Delhivery provides a full range of Logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. The company also offers value-added services such as e-commerce return services, payment collection and processing, installation & assembly services, and fraud detection.
Major events and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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