Delhivery shares in focus after Q1 net profit jumps 68% YoY; Motilal Oswal raises target price
shares will be in focus on Monday after the third-party logistics firm reported a 68.5% year-on-year rise in net profit to Rs 91 crore for the June quarter, driven by tighter operations and stable revenues.
Operating revenue grew 5.6% YoY to Rs 2,294 crore, while its core express parcel segment saw a 14% volume increase, reaching 208 million shipments.
by Taboola
by Taboola
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In the post-earnings call, CEO Sahil Barua said the impact of Delhivery's acquisition of Ecom Express would reflect in the July-September quarter. The Rs 300-crore integration process will be spread over six months. Barua added that the acquisition is expected to boost Delhivery's market share in the 3PL segment by around 25%, given Ecom Express handled nearly half of Delhivery's volume.
Separately, Delhivery announced that Srivatsan Rajan, its longest-serving independent director, will step down on September 30. Yashish Dahiya, founder of
PB Fintech
, and Padmini Srinivasan will join the board as independent directors.
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Delhivery shares target price
Following the Q1 results,
Motilal Oswal Financial Services
(MOFS) raised Delhivery's target price to Rs 500 from Rs 480, while retaining its 'Buy' rating. The brokerage cited scalable growth with margin expansion and network synergies as key drivers. It expects core transport businesses to continue driving profit-accretive growth, supported by asset optimisation and acquisitions.
MOFS projects 16–18% margin sustainability over the next two years and forecasts a CAGR of 14% in sales, 38% in EBITDA, and 53% in adjusted PAT (APAT) for FY25–28.
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Delhivery stock performance
Delhivery shares have gained 23% year-to-date and surged 41% in the last three months. However, the stock remains 32% lower over the past three years. The company's market capitalisation currently stands at Rs 32,092 crore.
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: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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