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Blue Dart Express Ltd Stock Analysis

Mid Cap
Evaluated by 2529 users | BSE: 526612 | NSE: BLUEDART |
Courier Services

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to thousands of locations in India. As part of the DPDHL Group’s (DHL...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Blue Dart Express Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation
 Dec'11Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Capital Employed 20.32%29.95%19.07%21.27%29.52%19.48%19.49%12.32%3.97%18.46%-
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 1,4931,7331,9342,2692,5522,6812,7913,1653,1663,2803,730
Y-o-Y Gr. Rt.-16.1%11.6%17.3%12.5%5.1%4.1%13.4%0%3.6%-
Adjusted EPS (Rs.) 51.3766.0451.6253.3779.8958.7959.8736.972.8248.22106.89
Y-o-Y Gr. Rt.-28.6%-21.8%3.4%49.7%-26.4%1.8%-38.3%-92.4%1609.9%-
Book Value per Share (Rs.) 277.33219.02267.7125.19198.31219.84261.79280.13245.88286.2298.60
Adjusted Net Profit 12215712212719014014287.76.7114254
Net Op. Cash Flow (Rs. Cr.) 10514612015327114321015793.7449-
Debt to Cash Flow from Ops 0002.171.232.320.790.930.80.32-
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Blue Dart Express Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 9.1%5.2%5.5%3.6%
Adjusted EPS -0.7%-9.6%-7%1609.9%
Book Value per Share 0.47.6316.4
Share Price 16% 3.5% 27.8% 130.8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Dec'11Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity (%) 20.3229.9519.0627.1649.3828.1224.8613.641.0718.1236.56
Operating Profit Margin (%) 12.0312.798.929.8712.969.879.295.445.9311.4915.5
Net Profit Margin (%) 8.179.046.335.587.435.25.092.770.213.496.8
Debt to Equity 0001.120.710.640.270.220.130.21-
Working Capital Days 140122157145138146154146157157-
Cash Conversion Cycle 20222723128107100-
Loading price chart...
Entity Percentage Holding
Promoters 75.00%
Institutions 12.65%
Non-Institutions 12.35%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Past 10 year's financial track record analysis by Moneyworks4me indicates that Blue Dart Express Ltd is a good quality company.

Blue Dart Express Ltd's earnings have declined by -9.6%, whereas share price has appreciated 3.5% CAGR over the past five years, indicating the company’s share price is likely overvalued. However, for specific investment actions please consult your investment advisor.

Blue Dart Express Ltd share price has appreciated 14.7% annually (CAGR) over the past ten years.

Past 10 years financial track record analysis and assessment of future prospects by Moneyworks4me indicates that Blue Dart Express Ltd is a good long term investment. However, you need to ensure you buy at a right price to earn good returns.

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to thousands of locations in India. As part of the DPDHL Group’s (DHL Express, DHL Global Forwarding & DHL Supply Chain) Post - E-commerce - Parcel (PeP) division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering

Blue Dart Express Ltd., South Asia's premier express air and integrated transportation & distribution company, offers secure and reliable delivery of consignments to thousands of locations in India. As part of the DPDHL Group’s (DHL Express, DHL Global Forwarding & DHL Supply Chain) Post - E-commerce - Parcel (PeP) division, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering hundreds of countries and territories and offers an entire spectrum of distribution services including air express, freight forwarding, supply chain solutions and customs clearance.

The Blue Dart team drives market leadership through its motivated people force, dedicated air and ground capacity, cutting-edge technology, wide range of innovative, vertical specific products and value-added services to deliver unmatched standards of service quality to its customers. Blue Dart accepts its social responsibility by supporting climate protection (GoGreen), disaster management (GoHelp) and education (GoTeach).

Business area of the company

The Company is engaged in the business of integrated air and ground transportation and distribution of time sensitive packages to various destinations, primarily within India.

Awards and recognitions

2015-16

  • Ranked at 81 in Business World - Fastest Growing Companies - The Welter Weights (Rs 1,000 cr to Rs 4,999 cr)
  • Air Cargo Terminal Operator - ICC Supply Chain & Logistics Excellence Awards 2016
  • Effective Retail through Supply Chain Award by the Asia - Africa GCC Awards for Retail Excellence
  • Best Customer Service in Logistics at the National Awards for Excellence in Customer Service
  • Best India Investment 2016 by APAC Insider Investment Awards
  • Recognized as the ‘Express Cargo Service Provider’ by ET Logistics Awards (Knowledge Partner KPMG)
  • Voted as a Superbrand for the 8th consecutive year by Superbrands
  • Brand Excellence Award in Logistics Sector by ABP News Brand Excellence Awards
  • Reader’s Digest Most Trusted Brand - Gold
  • Listed as one of India’s Super 50 Companies by Forbes India
  • Ranked at 116 in BT 500 - India’s Most Valuable Companies 2015, up from 143 in 2014

2016-17

  • Blue Dart was honored with Asia’s Most Trusted Brand by IBC (International Brand Consulting Corporation, USA) in 2016
  • Blue Dart was honoured with a token of appreciation for its valuable contribution by Tanishq in 2016-2017
  • Blue Dart won the Reader’s Digest Trusted Brand Award for the 11th consecutive year
  • Blue Dart won the Business Superbrands 2016 Award for the 10th consecutive year
  • Blue Dart was honoured with DHL AP Innovation Award 2017
  • Blue Dart was honored with the Amity Leadership Award for Business Excellence by Leveraging IT in Express Distribution Services - 2017
  • Blue Dart was honoured as the ‘Iconic Brand’ in the Logistics Sector at the World Business Conclave 2016 in Hong Kong
  • Blue Dart awarded for Brand Excellence in Supply Chain & Logistics Sector at the Brand Excellence Awards
  • Blue Dart winner as the Most Efficient Last Mile Operator of the Year at the 10th Express Logistics and Supply Chain Conclave (ELSC)
  • Blue Dart awarded as Regional Express Provider of the Year Award at Payload Asia 2016 Award
  • Blue Dart was honoured with the National Award for Excellence in Cost Management
  • Ranked one of the ‘Best Companies to Work for in India 2016’ by Great Place to Work Institute, India
  • Recognized as one of ‘Top 25 Employers in India’ by Aon Hewitt
  • Blue Dart awarded the National Award for Innovation in Learning 2016
  • Blue Dart awarded the National Award for Marketing Excellence in Supply Chain & Logistics Sector 2016

2017-18

  • Blue Dart was recognized as the Best Express Air & Integrated Transportation Solutions Provider 2018 by APAC Insider Indian Excellence Awards
  • Blue Dart conferred with the Air Cargo Transportation Award at the 8th Annual Supply Chain & Logistics Summit & Excellence Award 2018 by Indian Chamber of Commerce
  • Blue Dart awarded with the Best Integrated Logistics Service Provider at the India Cargo Awards North & East
  • Awarded Reader’s Digest Most Trusted Brand Award 2016 for the 11th time in a row
  • Voted as a Business Superbrand for the 10th consecutive year by Superbrands
  • Blue Dart conferred with the Brand Excellence Award in Supply Chain & Logistics Sector at the ABP News Brand Excellence Awards
  • Blue Dart conferred with award for Marketing Excellence in Supply Chain & Logistics Sector at Global Marketing Excellence Awards
  • Blue Dart Express recognized as ‘Compliance Team, 2017’ by Legasis Group

2018-19

  • Voted as a Business Superbrand for the 12th consecutive year by Superbrands 2018
  • Best Express Logistics Provider by ET Now Rise with India 2018
  • Most Innovative Company in Logistics Sector by ET Now Rise with India 2018
  • Business Standard BS 1000 ranks Blue Dart at 311 in 2019
  • WPP & Kantar Millward Brown's BrandZTM Top 75 Most Valuable Indian Brands ranked Blue Dart on 69th position making it the only Logistics company to enter in the list of 75 Valuable Indian Brand
  • Mahindra Transport Excellence Award 2018 confers Blue Dart with the “Outperformers in Courier / e-Commerce Transportation Award'
  • Blue Dart conferred with the Indira Silver Jubilee Excellence Awards 2019 by Indira Group of Institutes, Pune

2019-20

  • Blue Dart conferred with the prestigious Golden Peacock Award at IOD India's ‘4th Annual Global Convention on Corporate Ethics & Risk Management’ in Singapore
  • Blue Dart conferred with the prestigious ‘Brand Leadership Award for Excellence in Supply Chain & Logistics’ at the ET NOW presents Stars of the Industry Awards
  • Blue Dart presented with ‘The Best Compliance Team Award’ by Legasis Compliance 10/10 Compliance by Choice
  • Blue Dart voted as a Business Superbrand for the 13th consecutive year by Superbrands 2019
  • Blue Dart recognised as ‘The Most Trusted Brand 2019’ for the 13th time in a row by Reader's Digest
  • Blue Dart felicitated with the ‘Award for Service Excellence’ by Yusen Logistics
  • Blue Dart conferred with the ‘Best Air Transportation, Best Surface Express Transportation & Best Implant’ at Fiat Plant by JEEP - FIAT CHRYSLER - FCA at India Transport Excellence Awards

Milestones

  • 1983: Three young entrepreneurs, Clyde Cooper, Tushar Jani and Khushroo Dubash, set up Blue Dart with a capital base of ? 30,000/-. In a space of 200sq. ft. under a staircase, Blue Dart was born as an idea of delivering small packages and samples to support India's burgeoning exports. They forged ties with Gelco Express International U.K., and introduced India's first international air package express service.
  • 1984: Blue Dart Courier Services becomes the first carrier in India to provide domestic and international on-board couriers, a hub-and-spoke system and offers 10.30 a.m. delivery service.
  • 1988: Real-time, on-line tracking of all international shipments were introduced by Blue Dart Courier Services, offering customers control of their shipments like never before.
  • 1991: Blue Dart Express gets registered as a private limited company and introduced its economical logistics service option, Dart Surfaceline. Cosmat-ITM, an indigenous domestic tracking system was also developed that year.
  • 1992: Blue Dart Express Pvt. Ltd. launches its in-house domestic e-mail network and strengthens its focus as an employer of choice by introducing the Employee Satisfaction Survey (ESS).
  • 1994: Blue Dart Express Ltd. goes public with an equity offer of 2.55 million shares, at a premium of 14 times, worth Rs 382.5 million. Blue Dart Express Ltd., launched Dart Apex (Domestic Air Package Express), a multi-modal, premium package delivery service and Cosmat-IITM, an advanced system which includes track and trace.
  • 1994: Blue Dart Aviation registers as a public limited company and became the first private company to receive government permissions for operation of cargo aircrafts in India.
  • 1995: Blue Dart Aviation acquires 2 Boeing 737-200 freighters and receives ATO permission. SMARTTM (Space Management Allocation Reservations and Tracking) system - the first cargo management system in the country, is developed for Blue Dart's aircraft.
  • 1995: Blue Dart, Kolkata was launched and had its offices inaugurated by Nobel Peace Prize Laureate, Mother Teresa of the Missionaries of Charity.
  • 1996: Blue Dart Aviation launches India's first jet express airline.
  • 1996: Blue Dart Express Ltd.'s turnover crosses the ? 1 billion mark, as it expands its domestic network by entering into strategic alliances in North, South and West India.
  • 1996: Blue Dart Express Ltd. becomes the first express company in India to receive an ISO 9001 certification and launches its website on the internet.
  • 1997: Blue Dart Express Ltd. signs agreements with leading international airlines for distribution of bonded cargo within its network. Blue Dart Aviation also launches its domestic charter operations.
  • 1998: Blue Dart Aviation develops India's first Load and Trim software for its B737-200 flights.
  • 1998: Blue Dart Express Ltd. launches SMARTBOX, its economical, packaged door-to-door product, and extends its delivery to over 1,000 locations.
  • 1999: Blue Dart Express Ltd. moves to its state-of-the-art Administrative, Technology and Operations Superhub, the Blue Dart Centre, at Mumbai. Strategically located at close proximity to both the international and domestic airports and equipped with the latest technology, the Superhub helped improve efficiency and increased load-handling capacity manifold.
  • 1999: Blue Dart Express Ltd. launches Power Dart 2000+, a software that provides customers free connectivity to its database, enabling customers to track and retrieve all information related to their shipments.
  • 2000: Blue Dart Express Ltd. revamped its website to support e-trade and commerce and facilitate better customer interface on the net.
  • 2001: Blue Dart launches its 3rd aircraft operations on the Bangalore-Delhi-Bangalore sector.
  • 2001: Blue Dart also partnered with the Civil Aviation Ministry to assist with relief operations into an earthquake-battered Bhuj in Gujarat.
  • 2001: Technology tools and customer software - MobileDartTM, On-Line Pick Up and ShipDartTM - were developed in-house and launched. Blue Dart declares 1:1 bonus shares.
  • 2001: Blue Dart, Kolkata moves into a heritage building, Kanak, and its new premises was inaugurated by Sr. Nirmala of the Missionaries of Charity.
  • 2002: Blue Dart is one of the few Indian companies to be re-certified to the new global ISO 9001 - 2000 standards for 'Design, management and operations of countrywide express transportation and distribution service within the Indian subcontinent and to international destinations serviced through multinational express companies'.
  • 2002: Blue Dart ends its contract with Federal Express and signs a path-breaking Sales Alliance with the World's No. 1 international air express company, DHL Worldwide Express. Blue Dart crosses 100,000 shipments per day.
  • 2003: Blue Dart acquires its 4th Boeing 737 freighter. With a focus on strengthening infrastructure, Blue Dart establishes 12 of its own offices in the South, added an additional 198 locations to its delivery network, expands its hub at Bhiwandi and sets up a bonded warehouse in Mumbai.
  • 2003: Blue Dart is chosen as a 'Superbrand' from over 700 brands across 98 categories by a jury of eminent marketing and advertising professionals. The company celebrated 20 years of service to the nation on 19th November 2003.
  • 2004: Blue Dart inducts its 4th aircraft into operation on 17th May 2004, connecting Hyderabad as its 6th Aviation Hub, followed by the acquisition of its 5th Boeing 737 freighter the same year.
  • 2005: DHL Express (Singapore) Pte. Ltd. acquires 81.03% of the equity capital of Blue Dart Express Limited. Blue Dart continues to operate as an independent brand, providing a complete spectrum of domestic and international express services through synergies with DHL.
  • 2006: Blue Dart launches its unique SMS based Mobile Tracking Service.
  • 2006: A decade after its launch of India's first domestic express airline, Blue Dart introduces the 1st Boeing 757 freighters in the Indian skies on 1st June 2006 with 2 of these aircraft connecting the 5 major metros of Delhi, Mumbai, Chennai, Bengaluru and Kolkata. A second flight was launched from Hyderabad while Ahmedabad became the 7th airport to join Blue Dart's network.
  • 2007: Blue Dart launches its fortified Ground Express Service - Dart Surfaceline with time bound deliveries and features like DOD (Demand Draft on Delivery), FOD (Freight on Delivery) and FOV (Freight on Value) - Insurance Arrangement.
  • 2007: Blue Dart invests in a 3rd Boeing B757 freighter.
  • 2008: Blue Dart celebrated its Silver Jubilee - 25 years of operations in India.
  • 2008: The first integrated Blue Dart-DHL facility was set up in Bangalore.
  • 2008: Blue Dart inducts 4th Boeing B757 freighter.
  • 2009: Blue Dart earns the title of a 'SuperBrand' for the 5th time in a row.
  • 2010: Blue Dart reaches a new benchmark in quality service with an ISO 9001-2015 standards certification.
  • 2010: Readers' Digest voted Blue Dart as the 'Most Trusted Brand' for the 5th time in a row.
  • 2011: Blue Dart launches Smart Truck, making logistics more time and cost-effective. It also launches its Carbon Neutral Service under the 'GoGreen' initiative.
  • 2011: Blue Dart is awarded the Great Place To Work (GPTW) title for the 2nd time.
  • 2012: Blue Dart strengthens its community outreach initiatives by introducing and celebrating World CSR Day.
  • 2012: The company inducted its 5th B757-200 freighter into its fleet.
  • 2012: Blue Dart is awarded the GPTW title for the 3rd time
  • 2012: In order to comply with statutory requirements, DHL reduced its stake in Blue Dart to 75%.
  • 2013: Blue Dart commemorates 30 years of being India's foremost courier service.
  • 2013: Blue Dart continues to leverage technology for growth by introducing TDX, RFID Pilots, launching Critical Express and implementing CAF for delivery and process excellence.
  • 2013: Awarded GPTW for the 4th time.
  • 2013: External factors and market conditions causes Blue Dart to reformulate its Fuel Surcharge mechanism.
  • 2013: Blue Dart Express declares dividend (bonus debentures). The company begins closer interactions with e-tailers to understand their requirements.
  • 2014: Blue Dart announces plans to launch a separate structure for e-tailing.
  • 2014: After the success of the Smart Truck in other countries, Blue Dart and DHL look at rolling out Smart Trucks in India.
  • 2014: Blue Dart implements measures for margin improvement.
  • 2014: Blue Dart continues its winning streak by clinching the 'Great Place To Work' award for the 5th consecutive year.
  • 2014: Became a part of DPDHL's Post-eCommerce-Parcel (PeP) Division.
  • 2015: Acquired additional 21% stake in Blue Dart Aviation.
  • 2015: Launched India's 1st Parcel Locker in Gurgaon.
  • 2015: Launched Mobile Service Centres and Auto Sorters.
  • 2016: Acquired its 6th Boeing 757-200 freighter.
  • 2016: Recognised amongst the top 50 of India's Best Companies to Work for by Great Place to Work, India.
  • 2016: Recognised as one of the Top 25 Best Employers in India by AON Hewitt.
  • 2016: Recognised as a Superbrand for the 9th consecutive year.
  • 2017: Ranked No.1 Best Multinational Workplaces in Asia 2017, in a study conducted by Great Place to Work (GPTW) Institute, India.
  • 2017: Voted a Business Superbrand for the 10th consecutive year.
  • 2017: Voted a Most Trusted Brand by Reader's Digest for the 11th consecutive year.
  • 2017: Asia's Most Trusted Brand by IBC (International Brand Consulting Corporation, USA) in the year 2016.
  • 2017: Blue Dart powers last-mile deliveries with electric vehicles in Gurgaon.
  • 2018: Expanded reach to pin codes across Tier 2,3, 4 towns.
  • 2018: Voted a Superbrand for 11th consecutive year.
  • 2018: Ranked No. 2 amongst Best Multinational Workplaces in Asia - GPTW Asia.
  • 2018: Ranked No. 15 amongst Top 50 of India’s Best Companies to Work For - 2018 - GPTW .
  • 2019: Expanded reach to 14,000+ pin codes.
  • 2019: Certified as a Great Place to Work by GPTW India for the 8th year.
  • 2019: Voted a Superbrand for 12th consecutive year - GPTW.
  • 2019: Ranked No. 1 amongst Best Multinational Workplaces in Asia - GPTW Asia.
  • 2019: Recognised as a Company with Great People Managers by Great Manager Institute & Forbes.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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