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Last Updated on: 22 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 543529 | NSE: DELHIVERY

Fundamental Analysis of Delhivery Ltd

Share Price and Basic Stock Data

Last Updated: July 20, 2024, 10:04 pm

Market Cap 27,668 Cr.
Current Price 374
High / Low488/354
Stock P/E
Book Value 124
Dividend Yield0.00 %
ROCE1.31 %
ROE2.48 %
Face Value 1.00
PEG Ratio0.00

Data Source: screener.in

Competitors of Delhivery Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
East West Holdings Ltd 85.7 Cr. 6.7211.5/4.2115.1 5.070.00 %19.8 %9.06 % 2.00
DJ Mediaprint & Logistics Ltd 374 Cr. 346370/12874.2 31.00.06 %19.0 %16.2 % 10.0
Delhivery Ltd 27,668 Cr. 374488/354 1240.00 %1.31 %2.48 % 1.00
Chartered Logistics Ltd 99.5 Cr. 10.012.5/4.42149 4.520.00 %5.16 %1.50 % 1.00
Cargotrans Maritime Ltd 25.3 Cr. 62.097.0/50.814.2 34.00.00 %21.3 %14.7 % 10.0
Industry Average0 Cr266.3878.5659.010%0%0%6.76

Quarterly Result

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Sales1,0031,3181,4981,9952,0721,7461,7961,8241,8601,9301,9422,1942,076
Expenses1,0251,3892,0161,9412,0122,0001,9341,8981,8461,9431,9572,0892,030
Operating Profit-23-71-5185460-254-138-7513-13-1610546
OPM %-2%-5%-35%3%3%-15%-8%-4%1%-1%-1%5%2%
Other Income294630245555959475108101123111
Interest25232628232524211920202227
Depreciation10082120187223181200207242167171183200
Profit before tax-118-130-633-136-131-405-266-209-173-92-10523-71
Tax %0%0%-0%7%8%1%5%6%8%3%2%50%3%
Net Profit-118-130-635-127-120-399-254-196-159-89-10312-68
EPS in Rs-708.98-774.86-33.93-5.84-1.87-5.51-3.50-2.69-2.18-1.22-1.400.16-0.93

Last Updated: July 11, 2024, 10:33 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 10, 2024, 8:30 pm

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,6542,7813,6476,8827,2258,142
Expenses3,2722,9523,7697,3577,6778,015
Operating Profit-1,618-171-123-475-452127
OPM %-98%-6%-3%-7%-6%2%
Other Income41207150156319439
Interest3649891008989
Depreciation170256355611831722
Profit before tax-1,783-269-416-1,029-1,053-244
Tax %0%-0%0%2%4%-2%
Net Profit-1,783-269-416-1,011-1,008-249
EPS in Rs-18,607.05-2,758.26-2,492.60-15.75-13.83-3.38
Dividend Payout %0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)84.91%-54.65%-143.03%0.30%75.30%
Change in YoY Net Profit Growth (%)0.00%-139.56%-88.38%143.33%75.00%

Growth

Compounded Sales Growth
10 Years:%
5 Years:38%
3 Years:31%
TTM:13%
Compounded Profit Growth
10 Years:%
5 Years:13%
3 Years:12%
TTM:78%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:-5%
Return on Equity
10 Years:%
5 Years:-11%
3 Years:-11%
Last Year:-2%

Last Updated: July 17, 2024, 4:35 pm

Balance Sheet

Last Updated: July 10, 2024, 8:30 pm

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Equity Capital112647374
Reserves3,3483,1302,8005,8939,1049,071
Preference Capital39395400
Borrowings4117551,0981,1029231,169
Other Liabilities3034716981,1921,0661,139
Total Liabilities4,0634,3574,5988,25111,16611,453
Fixed Assets4887441,0533,0522,9953,354
CWIP13277602329
Investments1,1551,1881,1282,0912,0942,776
Other Assets2,4192,3942,3403,0486,0545,295
Total Assets4,0634,3574,5988,25111,16611,453

Reserves and Borrowings Chart

Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity -243-6345-241-27472
Cash from Investing Activity -939-933338-2,742-3,411-99
Cash from Financing Activity 2,858-17-1472,9023,538-366
Net Cash Flow1,676-1,583196-811007

Free Cash Flow

MonthMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-451.00-965.00-124.00-476.00-1,375.00126.00

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 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days477960534864
Inventory Days
Days Payable
Cash Conversion Cycle477960534864
Working Capital Days5012312263192201
ROCE %-7%-8%-17%-11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
FIIs8.02%74.24%69.13%67.63%65.57%65.50%62.71%63.63%
DIIs6.83%7.11%11.45%13.03%14.58%14.68%17.02%19.62%
Public85.15%18.65%19.42%19.34%19.83%19.81%20.27%16.73%
No. of Shareholders55,39759,49984,91482,58783,91683,57594,01192,984

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund17,116,8081.12768.544,000,0002024-07-21327.92%
Mirae Asset Large & Midcap Fund14,739,6781.89661.814,000,0002024-07-21268.49%
SBI Focused Equity Fund14,345,5631.94644.124,000,0002024-07-21258.64%
Mirae Asset ELSS Tax Saver Fund10,304,7572.06462.684,000,0002024-07-21157.62%
Mirae Asset Midcap Fund8,469,6402.51380.294,000,0002024-07-21111.74%
SBI Large & Midcap Fund7,470,5001.48335.434,000,0002024-07-2186.76%
SBI Contra Fund7,156,0131.09321.314,000,0002024-07-2178.9%
SBI Flexi Cap Fund6,300,0001.36282.874,000,0002024-07-2157.5%
SBI Long Term Equity Fund6,043,9711.16271.374,000,0002024-07-2151.1%
SBI Balanced Advantage Fund4,000,0000.6179.64,000,0002024-07-210%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue1.001.001.0010.0010.00
Basic EPS (Rs.)-3.40-14.09-16.98-8.05-5.22
Diluted EPS (Rs.)-3.40-14.09-16.98-8.05-5.22
Cash EPS (Rs.)6.29-2.61-6.18-374.30-136.77
Book Value[Excl.RevalReserv]/Share (Rs.)124.11125.9492.7817154.9232115.22
Book Value[Incl.RevalReserv]/Share (Rs.)124.11125.9492.7817154.9232115.22
Revenue From Operations / Share (Rs.)110.5099.15107.1822330.2328518.72
PBDIT / Share (Rs.)7.86-2.01-4.92421.52369.30
PBIT / Share (Rs.)-1.93-13.42-14.43-1750.07-2252.14
PBT / Share (Rs.)-3.44-14.64-15.98-2545.88-2756.94
Net Profit / Share (Rs.)-3.50-14.02-15.69-2545.88-2758.22
NP After MI And SOA / Share (Rs.)-3.38-13.83-15.74-2545.88-2758.22
PBDIT Margin (%)7.11-2.02-4.581.881.29
PBIT Margin (%)-1.74-13.53-13.46-7.83-7.89
PBT Margin (%)-3.10-14.76-14.90-11.40-9.66
Net Profit Margin (%)-3.16-14.13-14.64-11.40-9.67
NP After MI And SOA Margin (%)-3.06-13.94-14.68-11.40-9.67
Return on Networth / Equity (%)-2.72-10.98-16.97-14.84-8.58
Return on Capital Employeed (%)-1.40-9.86-13.72-7.84-5.97
Return On Assets (%)-2.17-9.00-12.25-9.04-6.17
Long Term Debt / Equity (X)0.000.010.010.040.03
Total Debt / Equity (X)0.010.020.050.100.08
Asset Turnover Ratio (%)0.710.670.920.770.66
Current Ratio (X)4.425.422.642.973.77
Quick Ratio (X)4.415.402.622.943.74
Interest Coverage Ratio (X)6.54-1.65-3.170.770.73
Interest Coverage Ratio (Post Tax) (X)-1.66-10.50-9.13-3.22-4.46
Enterprise Value (Cr.)32539.0123776.070.000.000.00
EV / Net Operating Revenue (X)4.003.290.000.000.00
EV / EBITDA (X)56.17-162.120.000.000.00
MarketCap / Net Operating Revenue (X)4.033.350.000.000.00
Price / BV (X)3.592.640.000.000.00
Price / Net Operating Revenue (X)4.033.350.000.000.00
EarningsYield-0.01-0.040.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 47.05

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Overvalued: 87.42% compared to the current price 374

Default values used*: Deafault value of 15 for Stock P/E is used

Intrinsic Value: 39.56

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 89.42% compared to the current price 374

Default values used*: Deafault value of 15 for Stock P/E is used

Last 5 Year EPS CAGR: -15.92%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (5,557.67 cr) compared to borrowings (931.67 cr), indicating strong financial stability.
  1. The stock has a low average ROCE of -7.17%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 125.17, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 58.50, which may not be favorable.
  4. The company has not shown consistent growth in sales (4.50) and profit (-155.33).

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Delhivery Ltd:
    1. Net Profit Margin: -3.16%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: -1.40% (Industry Average ROCE: 0%%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ✗ ROE%: -2.72% (Industry Average ROE: 0%%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): -1.66
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 4.41
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✓ Stock P/E: (Industry average Stock P/E: 78.56)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.01
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

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 belongs to the Industry of Logistics - Warehousing/Supply Chain/Others. Company’s Total Operating Revenue is Rs. 5911.00 Cr. and Equity Capital is Rs. 64.21 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Logistics - Warehousing/Supply Chain/OthersN24-N34, S24-S34, Air Cargo Logistics Centre-II, New Delhi Delhi 110037corporateaffairs@delhivery.com
http://www.delhivery.com
Management
NamePosition Held
Mr. Deepak KapoorChairman(NonExe.&Ind.Director)
Mr. Sahil BaruaManaging Director & CEO
Mr. Sandeep Kumar BarasiaExecutive Director
Mr. Kapil BharatiExecutive Director
Mr. Donald Francis ColleranNon Executive Director
Ms. Aruna SundararajanInd. Non-Executive Director
Mr. Saugata GuptaInd. Non-Executive Director
Mr. Srivatsan RajanInd. Non-Executive Director
Mr. Romesh SobtiInd. Non-Executive Director
Mr. Anindya GhoseInd. Non-Executive Director

FAQ

What is the latest fair value of Delhivery Ltd?

The latest fair value of Delhivery Ltd is ₹47.05.

What is the Market Cap of Delhivery Ltd?

The Market Cap of Delhivery Ltd is 27,668 Cr..

What is the current Stock Price of Delhivery Ltd as on 22 July 2024?

The current stock price of Delhivery Ltd as on 22 July 2024 is 374.

What is the High / Low of Delhivery Ltd stocks in FY 2024?

In FY 2024, the High / Low of Delhivery Ltd stocks is 488/354.

What is the Stock P/E of Delhivery Ltd?

The Stock P/E of Delhivery Ltd is .

What is the Book Value of Delhivery Ltd?

The Book Value of Delhivery Ltd is 124.

What is the Dividend Yield of Delhivery Ltd?

The Dividend Yield of Delhivery Ltd is 0.00 %.

What is the ROCE of Delhivery Ltd?

The ROCE of Delhivery Ltd is 1.31 %.

What is the ROE of Delhivery Ltd?

The ROE of Delhivery Ltd is 2.48 %.

What is the Face Value of Delhivery Ltd?

The Face Value of Delhivery Ltd is 1.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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 Delhivery 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