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Last Updated: April 2, 2026, 2:43 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 526612 | NSE: BLUEDART

Blue Dart Express Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹3,575.82Overvalued by 26.83%vs CMP ₹4,887.00

P/E (39.9) × ROE (16.2%) × BV (₹688.00) × DY (0.51%)

₹2,025.33Overvalued by 58.56%vs CMP ₹4,887.00
MoS: -141.3% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3,294.4222%Over (-32.6%)
Graham NumberEarnings₹1,286.5216%Over (-73.7%)
Earnings PowerEarnings₹613.8311%Over (-87.4%)
DCFCash Flow₹600.0913%Over (-87.7%)
Net Asset ValueAssets₹687.797%Over (-85.9%)
EV/EBITDAEnterprise₹5,280.209%Fair (+8%)
Earnings YieldEarnings₹1,069.207%Over (-78.1%)
ROCE CapitalReturns₹1,639.779%Over (-66.4%)
Revenue MultipleRevenue₹3,615.945%Over (-26%)
Consensus (9 models)₹2,025.33100%Overvalued
Key Drivers: Wide model spread (₹600–₹5,280) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -7.9%

*Investments are subject to market risks

Investment Snapshot

58
Blue Dart Express Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health65/100 · Strong
ROCE 16.3% GoodROE 16.2% GoodD/E 0.41 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -1.32% (6mo) SellingDII holding up 0.58% MF buyingPromoter holding at 75.0% Stable
Earnings Quality40/100 · Moderate
OPM contracting (21% → 16%) Declining
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +7% YoY GrowingProfit (4Q): -8% YoY Declining
Industry Rank90/100 · Strong
P/E 39.9 vs industry 68.7 Cheaper than peersROCE 16.3% vs industry 9.2% Above peersROE 16.2% vs industry 8.9% Above peers3Y sales CAGR: 9% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:43 am

Market Cap 11,596 Cr.
Current Price 4,887
Intrinsic Value₹2,025.33
High / Low 7,225/4,683
Stock P/E39.9
Book Value 688
Dividend Yield0.51 %
ROCE16.3 %
ROE16.2 %
Face Value 10.0
PEG Ratio-5.07

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Blue Dart Express Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Blue Dart Express Ltd 11,596 Cr. 4,887 7,225/4,68339.9 6880.51 %16.3 %16.2 % 10.0
Allcargo Gati Ltd 971 Cr. 66.0 74.6/51.497.5 55.30.00 %2.18 %1.54 % 2.00
Industry Average6,283.50 Cr2,476.5068.70371.650.26%9.24%8.87%6.00

All Competitor Stocks of Blue Dart Express Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,3371,2171,2381,3241,3831,3231,3431,4481,5121,4171,4421,5491,616
Expenses 1,1091,0171,0471,1021,1701,0971,1411,2301,2721,2041,2461,2971,335
Operating Profit 228199191223213226202218239213196252281
OPM % 17%16%15%17%15%17%15%15%16%15%14%16%17%
Other Income 9910524119912121010-33
Interest 16151920201921212120192224
Depreciation 1009699111111113118121121124121131145
Profit before tax 1219782981081057285109816610979
Tax % 27%28%26%25%17%26%26%26%26%32%26%26%14%
Net Profit 89696173897853638155498168
EPS in Rs 37.3729.2725.8330.7937.4632.7822.5126.4834.1423.2420.5834.3028.80

Last Updated: February 6, 2026, 11:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 3:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,9372,2722,5632,6902,7993,1743,1753,2884,4105,1725,2685,7206,025
Expenses 1,7642,0482,1572,3482,4472,8882,7012,6023,4104,2354,4154,8445,083
Operating Profit 1722244063423522864756861,000938853876942
OPM % 9%10%16%13%13%9%15%21%23%18%16%15%16%
Other Income 392535262019-49-6-5325138-2
Interest 011434540431171118767788284
Depreciation 2744102104114128347430395394433485521
Profit before tax 184194296219217134-39140512508393347335
Tax % 34%34%33%36%33%33%7%27%25%27%23%27%
Net Profit 12312919714014590-42102382371301252254
EPS in Rs 51.6754.5182.9558.9360.9937.83-17.6442.91161.08156.16126.86106.38106.92
Dividend Payout % 29%294%36%25%21%33%0%35%37%19%20%24%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)4.88%52.71%-28.93%3.57%-37.93%-146.67%342.86%274.51%-2.88%-18.87%-16.28%
Change in YoY Net Profit Growth (%)0.00%47.84%-81.65%32.51%-41.50%-108.74%489.52%-68.35%-277.39%-15.99%2.59%

Blue Dart Express Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:12%
3 Years:9%
TTM:8%
Compounded Profit Growth
10 Years:6%
5 Years:46%
3 Years:-16%
TTM:-15%
Stock Price CAGR
10 Years:-2%
5 Years:20%
3 Years:-14%
1 Year:-31%
Return on Equity
10 Years:27%
5 Years:28%
3 Years:24%
Last Year:16%

Last Updated: September 5, 2025, 1:10 am

Balance Sheet

Last Updated: December 10, 2025, 2:29 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 24242424242424242424242424
Reserves 6192843584065085544675688481,1561,3441,5351,608
Borrowings 03323974914185735301,5221,0661,1201,0731,0071,081
Other Liabilities 2973494864775536611,6207838919231,0211,0971,109
Total Liabilities 9409881,2651,3971,5031,8112,6412,8972,8293,2233,4613,6633,821
Fixed Assets 2282164534715186541,6651,5831,4371,4371,8231,8141,912
CWIP 8252167999118769439747735
Investments 242600000150207171307386351
Other Assets 6797217908608851,0669581,1581,1151,1761,2571,3861,523
Total Assets 9409881,2651,3971,5031,8112,6412,8972,8293,2233,4613,6633,821

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 120153361225317243364750860717847735
Cash from Investing Activity + 3932-149-228-190-280-193-52911-514-375-300
Cash from Financing Activity + -294-126-95-33-15279-340-235-772-291-401-434
Net Cash Flow -13660118-36-2542-169-1499-89712
Free Cash Flow 939425257119-44167590689147585488
CFO/OP 70%102%116%91%114%113%90%113%100%93%107%94%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow172.00-108.009.00-149.00-66.00-287.00-55.00685.000.00937.00852.00875.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 504741495556615748454650
Inventory Days
Days Payable
Cash Conversion Cycle 504741495556615748454650
Working Capital Days 1280-18-17-22-37-74-49-23-47-23
ROCE %28%32%48%31%28%17%13%17%31%26%19%16%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs 4.85%4.24%4.73%5.29%5.40%5.37%5.46%5.98%5.46%5.53%5.04%4.14%
DIIs 9.86%11.10%11.76%11.76%11.73%12.65%12.94%12.49%13.04%13.04%13.13%13.62%
Public 10.29%9.64%8.50%7.94%7.88%6.98%6.60%6.50%6.49%6.44%6.82%7.26%
No. of Shareholders 36,65636,84035,01929,29434,03129,99430,30130,92529,90430,90634,12337,308

Shareholding Pattern Chart

No. of Shareholders

Blue Dart Express Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund 903,686 1.34 496.3625,2072026-02-23 00:56:2544.54%
Kotak Small Cap Fund 422,495 1.42 232.03N/AN/AN/A
HDFC Hybrid Equity Fund 254,841 0.59 139.96230,0002026-02-23 00:56:2510.8%
Canara Robeco Large and Mid Cap Fund 229,682 0.51 126.14201,2172026-01-26 07:55:1814.15%
HDFC Large and Mid Cap Fund 100,000 0.19 54.92N/AN/AN/A
HDFC Retirement Savings Fund - Equity 100,000 0.79 54.9275,0002025-12-15 07:23:1933.33%
HDFC Manufacturing Fund 96,000 0.51 52.72N/AN/AN/A
HDFC Balanced Advantage Fund 77,052 0.04 42.32N/AN/AN/A
HDFC Dividend Yield Fund 65,000 0.61 35.7N/AN/AN/A
HDFC Infrastructure Fund 50,000 1.16 27.46N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 106.38126.86156.16161.0842.91
Diluted EPS (Rs.) 106.38126.86156.16161.0842.91
Cash EPS (Rs.) 310.34308.87321.97327.26223.82
Book Value[Excl.RevalReserv]/Share (Rs.) 656.16575.45496.45367.00249.14
Book Value[Incl.RevalReserv]/Share (Rs.) 656.16575.45496.45367.00249.14
Revenue From Operations / Share (Rs.) 2407.482217.102176.861856.271383.89
PBDIT / Share (Rs.) 384.92380.31408.05433.75297.39
PBIT / Share (Rs.) 180.82198.13242.02267.34116.41
PBT / Share (Rs.) 146.14165.28213.89215.6158.83
Net Profit / Share (Rs.) 106.24126.69155.95160.8642.85
NP After MI And SOA / Share (Rs.) 106.24126.69155.95160.8642.85
PBDIT Margin (%) 15.9817.1518.7423.3621.48
PBIT Margin (%) 7.518.9311.1114.408.41
PBT Margin (%) 6.077.459.8211.614.25
Net Profit Margin (%) 4.415.717.168.663.09
NP After MI And SOA Margin (%) 4.415.717.168.663.09
Return on Networth / Equity (%) 16.1922.0131.4143.8317.19
Return on Capital Employeed (%) 18.3223.8927.2940.8217.21
Return On Assets (%) 6.898.6911.4913.513.51
Long Term Debt / Equity (X) 0.120.000.210.000.41
Total Debt / Equity (X) 0.120.180.210.220.41
Asset Turnover Ratio (%) 1.611.581.711.791.46
Current Ratio (X) 1.140.860.950.840.83
Quick Ratio (X) 1.100.820.910.810.81
Inventory Turnover Ratio (X) 110.680.000.000.000.00
Dividend Payout Ratio (NP) (%) 23.5023.6422.4124.830.00
Dividend Payout Ratio (CP) (%) 8.049.6910.8512.200.00
Earning Retention Ratio (%) 76.5076.3677.5975.170.00
Cash Earning Retention Ratio (%) 91.9690.3189.1587.800.00
Interest Coverage Ratio (X) 11.1011.5814.5011.856.37
Interest Coverage Ratio (Post Tax) (X) 4.064.866.545.812.15
Enterprise Value (Cr.) 14629.7614772.0114895.0716274.8813180.92
EV / Net Operating Revenue (X) 2.562.802.883.694.01
EV / EBITDA (X) 16.0016.3515.3615.7918.65
MarketCap / Net Operating Revenue (X) 2.552.792.853.694.03
Retention Ratios (%) 76.4976.3577.5875.160.00
Price / BV (X) 9.3610.7412.5018.6522.38
Price / Net Operating Revenue (X) 2.552.792.853.694.03
EarningsYield 0.010.020.020.020.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Blue Dart Express Ltd. is a Public Limited Listed company incorporated on 05/04/1991 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L61074MH1991PLC061074 and registration number is 061074. Currently Company is involved in the business activities of Courier activities. Company's Total Operating Revenue is Rs. 5720.18 Cr. and Equity Capital is Rs. 23.76 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
CouriersBlue Dart Centre, Mumbai Maharashtra 400099Contact not found
Management
NamePosition Held
Mr. Prakash ApteChairman
Mr. Balfour ManuelManaging Director
Mr. Florian Ulrich BumbergerDirector
Mr. Sebastian PaebensDirector
Mr. R S SubramanianDirector
Ms. Kavita NairDirector
Dr. Vandana AggarwalDirector

FAQ

What is the intrinsic value of Blue Dart Express Ltd and is it undervalued?

As of 10 April 2026, Blue Dart Express Ltd's intrinsic value is ₹2025.33, which is 58.56% lower than the current market price of ₹4,887.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (16.2 %), book value (₹688), dividend yield (0.51 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Blue Dart Express Ltd?

Blue Dart Express Ltd is trading at ₹4,887.00 as of 10 April 2026, with a FY2026-2027 high of ₹7,225 and low of ₹4,683. The stock is currently near its 52-week low. Market cap stands at ₹11,596 Cr..

How does Blue Dart Express Ltd's P/E ratio compare to its industry?

Blue Dart Express Ltd has a P/E ratio of 39.9, which is below the industry average of 68.70. This is broadly in line with or below the industry average.

Is Blue Dart Express Ltd financially healthy?

Key indicators for Blue Dart Express Ltd: ROCE of 16.3 % indicates efficient capital utilization; ROE of 16.2 % shows strong shareholder returns. Dividend yield is 0.51 %.

Is Blue Dart Express Ltd profitable and how is the profit trend?

Blue Dart Express Ltd reported a net profit of ₹252 Cr in Mar 2025 on revenue of ₹5,720 Cr. Compared to ₹382 Cr in Mar 2022, the net profit shows a declining trend.

Does Blue Dart Express Ltd pay dividends?

Blue Dart Express Ltd has a dividend yield of 0.51 % at the current price of ₹4,887.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Blue Dart Express Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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