Delhivery Ltd: Intrinsic Value & Share Price Analysis

Q: What is the intrinsic value of Delhivery Ltd and is it undervalued?

As of 10 May 2026, Delhivery Ltd's intrinsic value is 215.69, which is 53.81% lower than the current market price of 467.00, suggesting the stock is overvalued. Calculated using the PE ratio method factoring in ROE (1.52 %), book value (127), dividend yield (0.00 %), and 5-year EPS CAGR.

Q: What is the current share price and 52-week range of Delhivery Ltd?

Delhivery Ltd is trading at 467.00 as of 10 May 2026, with a FY2026-2027 high of 490 and low of 295. The stock is currently near its 52-week high. Market cap stands at 34,983 Cr..

Q: Is Delhivery Ltd financially healthy?

Key indicators: ROCE of 2.47 % is on the lower side. Dividend yield is 0.00 %.

Q: Is Delhivery Ltd profitable and how is the profit trend?

Delhivery Ltd reported a net profit of 162 Cr in Mar 2025 on revenue of 8,932 Cr. Compared to -1,011 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹305.59Overvalued by 34.56%vs CMP ₹467.00

P/E (194.0) × ROE (1.5%) × BV (₹127.00) × DY (2.00%)

₹215.69Overvalued by 53.81%vs CMP ₹467.00

MoS: -116.5% (Negative)Confidence: 56/100 (Moderate)Models: 1 Under, 6 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹549.50	30%	Under (+17.7%)
Graham Number	Earnings	₹76.54	18%	Over (-83.6%)
DCF	Cash Flow	₹28.19	14%	Over (-94%)
Net Asset Value	Assets	₹127.21	10%	Over (-72.8%)
EV/EBITDA	Enterprise	₹99.69	12%	Over (-78.7%)
Earnings Yield	Earnings	₹20.50	10%	Over (-95.6%)
Revenue Multiple	Revenue	₹119.24	7%	Over (-74.5%)
Consensus (7 models)		₹215.69	100%	Overvalued

Key Drivers: EPS CAGR 79.8% lifts DCF — verify sustainability. | P/E of 194 makes PE-ROE unreliable — asset/earnings models are better benchmarks.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 79.8%

*Investments are subject to market risks

Analyst Summary

Delhivery Ltd operates in the Logistics - Warehousing/Supply Chain/Others segment, NSE: DELHIVERY | BSE: 543529, current market price is ₹467.00, market cap is 34,983 Cr.. At a glance, stock P/E is 194, ROE is 1.52 %, ROCE is 2.47 %, book value is 127, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹215.69, around 53.8% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹8,932 Cr versus the prior period change of 9.7%, while latest net profit is about ₹162 Cr with a prior-period change of 165.1%. The 52-week range shown on this page is 490/295, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisDelhivery Ltd. is a Public Limited Listed company incorporated on 22/06/2011 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L63090DL2011P…

This summary is generated from the stock page data available for Delhivery Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Delhivery Ltd scores 55/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health46/100 · Moderate

ROCE 2.5% WeakROE 1.5% WeakD/E 0.10 Low debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent

Smart Money45/100 · Moderate

FII holding down -3.42% (6mo) SellingDII holding up 4.94% MF buying

Earnings Quality65/100 · Strong

OPM expanding (-7% → 3%) Improving

Quarterly Momentum80/100 · Strong

Revenue (4Q): +12% YoY GrowingProfit (4Q): +633% YoY Strong

Industry Rank30/100 · Weak

P/E 194.0 vs industry 133.1 In-lineROCE 2.5% vs industry 10.1% Below peersROE 1.5% vs industry 22.8% Below 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: May 5, 2026, 2:34 am

Market Cap	34,983 Cr.
Current Price	467
Intrinsic Value	₹215.69
High / Low	490/295
Stock P/E	194
Book Value	127
Dividend Yield	0.00 %
ROCE	2.47 %
ROE	1.52 %
Face Value	1.00
PEG Ratio	2.43

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Delhivery Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Delhivery Ltd	34,983 Cr.	467	490/295	194	127	0.00 %	2.47 %	1.52 %	1.00
Container Corporation Of India Ltd	39,334 Cr.	516	653/421	30.8	168	1.78 %	13.9 %	10.8 %	5.00
Aegis Logistics Ltd	15,184 Cr.	433	472/280	29.5	104	1.33 %	15.9 %	15.9 %	1.00
Mahindra Logistics Ltd	4,094 Cr.	413	451/247	1,625	118	0.61 %	7.28 %	0.31 %	10.0
Gateway Distriparks Ltd	2,962 Cr.	59.3	76.5/48.1	11.0	42.0	3.37 %	12.4 %	12.2 %	10.0
Industry Average	5,875.44 Cr	156.67		133.06	66.13	0.95%	10.12%	22.78%	6.93

All Competitor Stocks of Delhivery Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	1,824	1,860	1,930	1,942	2,194	2,076	2,172	2,190	2,378	2,192	2,294	2,559	2,805
Expenses	1,898	1,846	1,943	1,957	2,089	2,030	2,076	2,139	2,278	2,072	2,153	2,491	2,596
Operating Profit	-75	13	-13	-16	105	46	96	51	100	119	141	68	209
OPM %	-4%	1%	-1%	-1%	5%	2%	4%	2%	4%	5%	6%	3%	7%
Other Income	94	75	108	101	123	111	105	120	99	129	130	96	52
Interest	21	19	20	20	22	27	28	31	33	34	34	39	37
Depreciation	207	242	167	171	183	200	119	131	142	142	147	178	187
Profit before tax	-209	-173	-92	-105	23	-71	53	9	24	72	90	-53	37
Tax %	-6%	-8%	-3%	-2%	50%	-3%	-3%	-18%	-5%	-1%	-2%	-5%	-8%
Net Profit	-196	-159	-89	-103	12	-68	54	10	25	73	91	-50	40
EPS in Rs	-2.69	-2.18	-1.22	-1.40	0.16	-0.93	0.74	0.14	0.34	0.97	1.22	-0.67	0.53

Last Updated: February 2, 2026, 8:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 3:45 am

Metric	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,654	2,781	3,647	6,882	7,225	8,142	8,932	9,850
Expenses	3,272	2,952	3,769	7,357	7,677	8,015	8,556	9,313
Operating Profit	-1,618	-171	-123	-475	-452	127	376	537
OPM %	-98%	-6%	-3%	-7%	-6%	2%	4%	5%
Other Income	41	207	150	156	319	439	442	406
Interest	36	49	89	100	89	89	126	144
Depreciation	170	256	355	611	831	722	535	655
Profit before tax	-1,783	-269	-416	-1,029	-1,053	-244	157	145
Tax %	0%	0%	0%	-2%	-4%	2%	-3%
Net Profit	-1,783	-269	-416	-1,011	-1,008	-249	162	153
EPS in Rs	-18,607.05	-2,758.26	-2,492.60	-15.75	-13.83	-3.38	2.17	2.05
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	84.91%	-54.65%	-143.03%	0.30%	75.30%	165.06%
Change in YoY Net Profit Growth (%)	0.00%	-139.56%	-88.38%	143.33%	75.00%	89.76%

Delhivery Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 6 years from 2019-2020 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	26%
3 Years:	9%
TTM:	8%

Compounded Profit Growth
10 Years:	%
5 Years:	20%
3 Years:	29%
TTM:	343%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	-6%
1 Year:	13%

Return on Equity
10 Years:	%
5 Years:	-8%
3 Years:	-4%
Last Year:	2%

Last Updated: September 5, 2025, 3:11 pm

Balance Sheet

Last Updated: December 4, 2025, 2:44 am

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	0.96	0.98	2	64	73	74	75	75
Reserves	3,348	3,130	2,800	5,893	9,104	9,071	9,358	9,454
Borrowings	450	794	1,152	1,102	923	1,169	1,422	1,642
Other Liabilities	264	432	644	1,192	1,090	1,139	1,209	1,529
Total Liabilities	4,063	4,357	4,598	8,251	11,191	11,453	12,063	12,699
Fixed Assets	488	744	1,053	3,052	2,995	3,354	3,887	5,491
CWIP	1	32	77	60	23	29	33	25
Investments	1,155	1,188	1,128	2,091	2,094	2,776	3,578	2,634
Other Assets	2,419	2,394	2,340	3,048	6,078	5,295	4,565	4,549
Total Assets	4,063	4,357	4,598	8,251	11,191	11,453	12,063	12,699

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-243	-634	5	-241	-30	472	567
Cash from Investing Activity +	-939	-933	338	-2,742	-3,408	-99	-102
Cash from Financing Activity +	2,858	-17	-147	2,902	3,538	-366	-432
Net Cash Flow	1,676	-1,583	196	-81	100	8	33
Free Cash Flow	-399	-847	-244	-780	-624	4	92
CFO/OP	14%	344%	-19%	48%	-9%	402%	158%

Free Cash Flow

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-451.00	-965.00	-124.00	-476.00	-1,375.00	126.00	375.00

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

Month	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	47	79	60	53	77	64	58
Inventory Days
Days Payable
Cash Conversion Cycle	47	79	60	53	77	64	58
Working Capital Days	21	88	89	41	178	109	68
ROCE %		-7%	-8%	-17%	-11%	-2%	2%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
FIIs	67.63%	65.57%	65.50%	62.71%	63.63%	61.16%	55.02%	53.75%	51.99%	52.95%	51.65%	48.57%
DIIs	13.03%	14.58%	14.68%	17.02%	19.62%	22.03%	28.56%	28.99%	30.04%	29.60%	32.05%	34.98%
Public	19.34%	19.83%	19.81%	20.27%	16.73%	16.81%	16.41%	17.27%	17.99%	17.46%	16.30%	16.43%
No. of Shareholders	82,587	83,916	83,575	94,011	92,984	1,28,985	1,39,715	1,62,318	1,72,942	1,77,546	1,60,797	1,67,966

Shareholding Pattern Chart

No. of Shareholders

Delhivery Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Mid Cap Fund	31,539,800	1.45	1366.93	30,639,800	2026-03-24 01:31:15	2.94%
Mirae Asset Large & Midcap Fund	20,048,920	2.02	868.92	18,501,556	2026-03-24 01:31:15	8.36%
Mirae Asset ELSS Tax Saver Fund	16,892,655	2.79	732.13	14,764,697	2026-03-24 00:21:47	14.41%
Mirae Asset Midcap Fund	12,291,760	2.95	532.72	10,901,760	2025-12-15 08:47:14	12.75%
Nippon India Multi Cap Fund	8,301,116	0.71	359.77	N/A	N/A	N/A
SBI Large & Midcap Fund	7,470,500	0.84	323.77	7,470,500	2025-04-22 17:07:47	0%
SBI Contra Fund	7,156,013	0.63	310.14	7,156,013	2025-04-22 17:07:47	0%
Invesco India Contra Fund	6,447,545	1.4	279.44	N/A	N/A	N/A
SBI ELSS Tax Saver Fund	6,043,971	0.81	261.95	N/A	N/A	N/A
Nippon India Small Cap Fund	5,367,117	0.34	232.61	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	1.00	1.00	1.00	1.00	10.00
Basic EPS (Rs.)	2.19	-3.40	-14.09	-16.98	-8.05
Diluted EPS (Rs.)	2.14	-3.40	-14.09	-16.98	-8.05
Cash EPS (Rs.)	9.25	6.29	-2.61	-6.18	-374.30
Book Value[Excl.RevalReserv]/Share (Rs.)	126.51	124.11	125.94	92.78	17154.92
Book Value[Incl.RevalReserv]/Share (Rs.)	126.51	124.11	125.94	92.78	17154.92
Revenue From Operations / Share (Rs.)	119.80	110.50	99.15	107.18	22330.23
PBDIT / Share (Rs.)	10.94	7.86	-2.01	-4.92	421.52
PBIT / Share (Rs.)	3.77	-1.93	-13.42	-14.43	-1750.07
PBT / Share (Rs.)	2.01	-3.44	-14.64	-15.98	-2545.88
Net Profit / Share (Rs.)	2.08	-3.50	-14.02	-15.69	-2545.88
NP After MI And SOA / Share (Rs.)	2.17	-3.38	-13.83	-15.74	-2545.88
PBDIT Margin (%)	9.13	7.11	-2.02	-4.58	1.88
PBIT Margin (%)	3.14	-1.74	-13.53	-13.46	-7.83
PBT Margin (%)	1.68	-3.10	-14.76	-14.90	-11.40
Net Profit Margin (%)	1.73	-3.16	-14.13	-14.64	-11.40
NP After MI And SOA Margin (%)	1.81	-3.06	-13.94	-14.68	-11.40
Return on Networth / Equity (%)	1.71	-2.72	-10.98	-16.97	-14.84
Return on Capital Employeed (%)	2.63	-1.40	-9.86	-13.72	-7.84
Return On Assets (%)	1.34	-2.17	-9.00	-12.25	-9.04
Long Term Debt / Equity (X)	0.00	0.00	0.01	0.01	0.04
Total Debt / Equity (X)	0.00	0.01	0.02	0.05	0.10
Asset Turnover Ratio (%)	0.75	0.71	0.67	0.92	0.77
Current Ratio (X)	4.23	4.42	5.42	2.64	2.97
Quick Ratio (X)	4.22	4.41	5.40	2.62	2.94
Inventory Turnover Ratio (X)	542.87	0.00	0.00	0.00	0.00
Interest Coverage Ratio (X)	6.49	6.54	-1.65	-3.17	0.77
Interest Coverage Ratio (Post Tax) (X)	2.27	-1.66	-10.50	-9.13	-3.22
Enterprise Value (Cr.)	18723.45	32539.01	23776.07	0.00	0.00
EV / Net Operating Revenue (X)	2.10	4.00	3.29	0.00	0.00
EV / EBITDA (X)	22.95	56.17	-162.12	0.00	0.00
MarketCap / Net Operating Revenue (X)	2.13	4.03	3.35	0.00	0.00
Price / BV (X)	2.02	3.59	2.64	0.00	0.00
Price / Net Operating Revenue (X)	2.13	4.03	3.35	0.00	0.00
EarningsYield	0.01	-0.01	-0.04	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Delhivery Ltd. is a Public Limited Listed company incorporated on 22/06/2011 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L63090DL2011PLC221234 and registration number is 221234. Currently Company is involved in the business activities of Freight transport by road. Company's Total Operating Revenue is Rs. 8252.45 Cr. and Equity Capital is Rs. 74.56 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Logistics - Warehousing/Supply Chain/Others	N24-N34, S24-S34, New Delhi Delhi 110037	Contact not found

Management
Name	Position Held
Mr. Deepak Kapoor	Chairperson (NonExe.&Ind.Director)
Mr. Sahil Barua	Managing Director & CEO
Mr. Kapil Bharati	Executive Director
Mr. Suraj Saharan	Executive Director
Mr. Romesh Sobti	Ind. Non-Executive Director
Ms. Aruna Sundararajan	Ind. Non-Executive Director
Mr. Saugata Gupta	Ind. Non-Executive Director
Mr. Srivatsan Rajan	Ind. Non-Executive Director
Mr. Sameer Mehta	Ind. Non-Executive Director
Ms. Namita Thapar	Ind. Non-Executive Director
Mr. Padmini Srinivasan	Ind. Non-Executive Director
Mr. Yashish Dahiya	Ind. Non-Executive Director

FAQ

What is the intrinsic value of Delhivery Ltd and is it undervalued?

As of 10 May 2026, Delhivery Ltd's intrinsic value is ₹215.69, which is 53.81% lower than the current market price of ₹467.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (1.52 %), book value (₹127), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Delhivery Ltd?

Delhivery Ltd is trading at ₹467.00 as of 10 May 2026, with a FY2026-2027 high of ₹490 and low of ₹295. The stock is currently near its 52-week high. Market cap stands at ₹34,983 Cr..

How does Delhivery Ltd's P/E ratio compare to its industry?

Delhivery Ltd has a P/E ratio of 194, which is above the industry average of 133.06. The premium over industry average may reflect growth expectations or speculative interest.

Is Delhivery Ltd financially healthy?

Key indicators for Delhivery Ltd: ROCE of 2.47 % is on the lower side compared to the industry average of 10.12%; ROE of 1.52 % is below ideal levels (industry average: 22.78%). Dividend yield is 0.00 %.

Is Delhivery Ltd profitable and how is the profit trend?

Delhivery Ltd reported a net profit of ₹162 Cr in Mar 2025 on revenue of ₹8,932 Cr. Compared to ₹-1,011 Cr in Mar 2022, the net profit shows an improving trend.

Does Delhivery Ltd pay dividends?

Delhivery Ltd has a dividend yield of 0.00 % at the current price of ₹467.00. The company is currently not paying meaningful dividends.