Shares of logistics major Delhivery surged 6.6% during the intraday trading to hit a 52-week high of ₹491.50 apiece
The rally came after upbeat brokerage commentary fuelled investor optimism about the company's growth prospects
Shares of Delhivery have gained nearly 7% in the last five trading sessions and over 8% in the past month
Shares of logistics major Delhivery
surged 6.6% during the intraday trading to hit a 52-week high of ₹491.50 apiece on the BSE after upbeat brokerage commentary fuelled investor optimism about the company’s growth prospects.
The stock later pared some of the gains and was trading 5.2% higher at ₹484.90 at 14:56 IST. The company’s market capitalisation stood at ₹36,285.4 Cr (about $3.8 Bn) at the time.
Shares of Delhivery have gained nearly 7% in the last five trading sessions and over 8% in the past month. The stock is up over 20% year-to-date.
Today’s rally came after brokerages projected an upside of 26-32% in the stock. Last week, JM Financial reiterated its ‘BUY’ rating on Delhivery with a target price of ₹605, implying an upside of nearly 32% from the stock’s closing price of ₹459.15 on Thursday (June 18).
The brokerage said Delhivery is well positioned for strong growth in the near-to-medium term, aided by a favourable industry structure, lower-than-expected logistics insourcing by Meesho and increasing consolidation in the third-party logistics (3PL) market.
According to JM Financial, Delhivery and Shadowfax have emerged as the only scaled national logistics networks following Delhivery’s acquisition of Ecom Express, while rival XpressBees continues to face execution challenges.
The brokerage expects Delhivery’s revenue to grow about 25% YoY in FY27, with adjusted EBITDA expected to nearly triple. While rising fuel prices and wage hikes could weigh on margins in the near term, JM Financial expects profitability to rebound sharply from the second quarter of FY27 as fuel cost pass-throughs normalise and operating leverage improves.
Meanwhile, Motilal Oswal maintained a ‘BUY’ rating on the stock with a target price of ₹580, implying an upside of about 26%.
The brokerage highlighted Delhivery’s strong operational performance, noting that the company’s express segment recorded 73% YoY volume growth in the fourth quarter of FY26, aided by healthy consumption demand, increased outsourcing by customers and sustained momentum from large ecommerce players.
Motilal Oswal added that margins remained resilient due to strong shipment volumes and cost discipline. It also pointed to a turnaround in Delhivery’s part-truckload (PTL) business, where service EBITDA margins expanded to 13.4% in Q4 FY26 from negative 8.5% in Q1 FY24.
The improvement was driven by a richer mix of SME and retail customers, rationalisation of low-profit contracts and stronger pricing discipline, the brokerage said.
Last week, Delhivery also launched ‘Delhivery Maps’, an AI-native suite of geospatial APIs for commercial logistics and navigation. The company said it is making its proprietary mapping infrastructure, previously used internally, availShares of logistics major Delhivery surged 6.6% during the intraday trading to hit a 52-week high of ₹491.50 apiece on the BSE after upbeat brokerage commentary fuelled investor optimism about the company’s growth prospects.
The stock later pared some of the gains and was trading 5.2% higher at ₹484.90 at 14:56 IST. The company’s market capitalisation stood at ₹36,285.4 Cr (about $3.8 Bn) at the time.
Shares of Delhivery have gained nearly 7% in the last five trading sessions and over 8% in the past month. The stock is up over 20% year-to-date.
Today’s rally came after brokerages projected an upside of 26-32% in the stock. Last week, JM Financial reiterated its ‘BUY’ rating on Delhivery with a target price of ₹605, implying an upside of nearly 32% from the stock’s closing price of ₹459.15 on Thursday (June 18).
The brokerage said Delhivery is well positioned for strong growth in the near-to-medium term, aided by a favourable industry structure, lower-than-expected logistics insourcing by Meesho and increasing consolidation in the third-party logistics (3PL) market.
According to JM Financial, Delhivery and Shadowfax have emerged as the only scaled national logistics networks following Delhivery’s acquisition of Ecom Express, while rival XpressBees continues to face execution challenges.
The brokerage expects Delhivery’s revenue to grow about 25% YoY in FY27, with adjusted EBITDA expected to nearly triple. While rising fuel prices and wage hikes could weigh on margins in the near term, JM Financial expects profitability to rebound sharply from the second quarter of FY27 as fuel cost pass-throughs normalise and operating leverage improves.
Meanwhile, Motilal Oswal maintained a ‘BUY’ rating on the stock with a target price of ₹580, implying an upside of about 26%.
The brokerage highlighted Delhivery’s strong operational performance, noting that the company’s express segment recorded 73% YoY volume growth in the fourth quarter of FY26, aided by healthy consumption demand, increased outsourcing by customers and sustained momentum from large ecommerce players.
Motilal Oswal added that margins remained resilient due to strong shipment volumes and cost discipline. It also pointed to a turnaround in Delhivery’s part-truckload (PTL) business, where service EBITDA margins expanded to 13.4% in Q4 FY26 from negative 8.5% in Q1 FY24.
The improvement was driven by a richer mix of SME and retail customers, rationalisation of low-profit contracts and stronger pricing discipline, the brokerage said.
Last week, Delhivery also launched ‘Delhivery Maps’, an AI-native suite of geospatial APIs for commercial logistics and navigation. The company said it is making its proprietary mapping infrastructure, previously used internally, available to enterprises, developers and gig economy platforms.
On the financial front, Delhivery reported a consolidated net profit of ₹72.4 Cr in the March quarter of FY26 as against ₹72.5 Cr in the year-ago period. Sequentially, net profit rose 83.3% from ₹39.6 Cr.
Revenue from operations increased 30% to ₹2,850 Cr in Q4 FY26 from ₹2,191.6 Cr a year earlier. On a QoQ basis, operating revenue rose 1.6% from ₹2,805 Cr.
able to enterprises, developers and gig economy platforms.
On the financial front, Delhivery reported a consolidated net profit of ₹72.4 Cr in the March quarter of FY26 as against ₹72.5 Cr in the year-ago period. Sequentially, net profit rose 83.3% from ₹39.6 Cr.
Revenue from operations increased 30% to ₹2,850 Cr in Q4 FY26 from ₹2,191.6 Cr a year earlier. On a QoQ basis, operating revenue rose 1.6% from ₹2,805 Cr.
Source: Inc42 - Startups
