Delhivery Ltd - Stock Valuation and Financial Performance

BSE: 543529 | NSE: DELHIVERY | Courier Services | Mid Cap

Delhivery Share Price

461.15 11.10 2.47%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Delhivery

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Semi Strong

Delhivery stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
34,115.3 Cr.
52-wk low:
321.1
52-wk high:
488.1

Is Delhivery Ltd an attractive stock to invest in?

1. Is Delhivery Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Delhivery Ltd is a below average quality company.

2. Is Delhivery Ltd undervalued or overvalued?

The key valuation ratios of Delhivery Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Delhivery Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Delhivery Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Delhivery:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Delhivery Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%-42.3%-110.9%110.1%37.1%-254.3%-7.6%-9.1%-12.4%-9.4%-
Value Creation
Index
NA-4.8-10.9NANA-23.6-1.7-1.8-1.9-1.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 02234967381,0191,6542,7773,5005,9116,6597,298
Sales YoY Gr.-NA122.6%48.8%38.1%62.2%67.9%26%68.9%12.7%-
Adj EPS 0-7.5-33.2-66.3-71.8-185.1-30.5-21.8-10.4-11.3-2.6
YoY Gr.-NANANANANANANANANA-
BVPS (₹) 014.733.2-162.1-233.2342.8308163.390.4123.6130.6
Adj Net
Profit
0-71.1-317-632-688-1,774-297-363-666-822-189
Cash Flow from Ops. 0-104-346-430-218-337-64313.5-441-52.6-
Debt/CF from Ops. 0-0.1-0.2-0-0.2-0.3-0.422.4-0.7-3.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA45.6%33.8%12.7%
Adj EPS NANANANA
BVPSNANA-26.2%36.9%
Share Price - - - 41.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
0-46.7-129.3104.837-285.1-9-12-14.7-10.5-2
Op. Profit
Mgn %
0-31.4-60.7-78.3-66.4-102.7-6.1-1.4-2.7-5.82
Net Profit
Mgn %
0-31.9-63.9-85.6-67.5-107.3-10.7-10.4-11.3-12.3-2.6
Debt to
Equity
00.10.2-0-000.10.10.10-
Working Cap
Days
00147222240161177212149223165
Cash Conv.
Cycle
001812-56-32282796132

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 33.84%

Sales growth is good in last 4 quarters at 10.34%

Return on Equity is Poor

Latest Financials - Delhivery Ltd.

Standalone Consolidated
TTM EPS (₹) -2.6 -4.6
TTM Sales (₹ Cr.) 7,298 7,926
BVPS (₹.) 130.6 123.9
Reserves (₹ Cr.) 9,553 9,054
P/BV 3.54 3.74
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 321.05 / 488.05
All Time Low / High (₹) 291.00 / 708.45
Market Cap (₹ Cr.) 34,115
Equity (₹ Cr.) 73.7
Face Value (₹) 1
Industry PE 52

Management X-Ray of Delhivery:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Delhivery

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales2234967381,0191,6542,7773,5005,9116,659
Operating Expenses 2937971,3161,6973,3522,9473,5486,3707,048
Manufacturing Costs1644889958799421,2972,1842,847
Material Costs000006101722
Employee Cost 491652002793554865551,1771,217
Other Costs 2281852181,3592,9181,5131,6862,8372,982
Operating Profit -70-301-578-677-1,698-169-48-459-389
Operating Profit Margin (%) -31.4%-60.7%-78.3%-66.4%-102.0%-6.1%-1.4%-7.8%-5.8%
Other Income 527135141209199170331
Interest 1313121949899486
Depreciation 540534792254353478657
Exceptional Items 0000-13-20-66-2-11
Profit Before Tax -71-317-631-684-1,781-284-356-864-812
Tax 000000000
Profit After Tax -71-317-631-684-1,781-284-356-864-812
PAT Margin (%) -31.9%-63.9%-85.4%-67.1%-107.0%-10.2%-10.2%-14.6%-12.2%
Adjusted EPS (₹)-7.5-33.2-66.2-71.4-185.0-29.3-21.8-13.5-11.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 148332-1,545-2,2353,3243,0272,7025,8019,010
Share Capital 1117114040376473
Reserves 138315-1,546-2,2363,2842,9872,6655,7378,937
Minority Interest000000000
Debt1463114164190216214114
Long Term Debt011936100132114114
Short Term Debt146310322991841000
Trade Payables37114132185155270413673783
Others Liabilities 17542,4283,1491788561,2901,4421,594
Total Liabilities 2175631,0271,1393,7224,3444,6218,13011,502

Fixed Assets

Gross Block201381532344061,1981,5412,3712,854
Accumulated Depreciation645931342174584929341,317
Net Fixed Assets1593601001897401,0491,4371,536
CWIP 5106127776023
Investments 571222112841,1601,1971,1633,7063,945
Inventories000172318262519
Trade Receivables5211395162212602573775827
Cash Equivalents 414715751,660395254178602
Others Assets481875055654771,3671,4801,9494,549
Total Assets 2175631,0271,1393,7224,3444,6218,13011,502

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -104-346-430-218-337-64313-441-53
PBT -71-317-631-684-1,781-284-356-864-812
Adjustment 1264525041,6382284651,129788
Changes in Working Capital -39-79-236-32-171-542-78-69943
Tax Paid 00-15-6-23-45-17-7-72
Cash Flow From Investing Activity -112-181-101-139-935-934286-2,895-3,416
Capex -21-115-20-93-157-209-212-531-588
Net Investments 00000-811515-762-2,907
Others -91-66-81-46-77885-18-1,60278
Cash Flow From Financing Activity 2165476842062,927-17-1123,2473,557
Net Proceeds from Shares 2095077441742,8901453,3903,910
Net Proceeds from Borrowing 000001013222-22
Interest Paid 0-2-8-3-9-49-21-93-86
Dividend Paid 000000000
Others 742-523546-71-168-72-246
Net Cash Flow 021154-1511,655-1,594187-8988
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-51.22-139.27N/AN/A-339.31-9.06-12.6-20.4-10.97
ROCE (%)-42.09-110.55N/AN/A-254.46-6.78-8.09-15.91-8.94
Asset Turnover Ratio1.031.270.930.940.680.690.780.930.68
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/AN/AN/A
Working Capital Days
Receivable Days856151464153614244
Inventory Days000643221
Payable Days00000001,1510

Delhivery Ltd Stock News

Delhivery Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Delhivery on 12-Apr-2024 16:59 is ₹461.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 16:59 the market cap of Delhivery stood at ₹34,115.3.
The latest P/E ratio of Delhivery as of 12-Apr-2024 16:59 is 0.00.
The latest P/B ratio of Delhivery as of 12-Apr-2024 16:59 is 3.54.
The 52-week high of Delhivery is ₹488.1 and the 52-week low is ₹321.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Delhivery is ₹7,298 ( Cr.) .

About Delhivery Ltd

The company was incorporated as ‘SSN Logistics Private Limited’, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana, at New Delhi (RoC) on June 22, 2011. Subsequently, the name of the company was changed to “Delhivery Private Limited”, pursuant to a fresh certificate of incorporation issued by the RoC on December 8, 2015. On the conversion of the Company to a public limited company, pursuant to a resolution passed by its Shareholders on September 29, 2021, the name of the company was changed to “Delhivery Limited” and a fresh certificate of incorporation dated October 12, 2021 was issued by the RoC.

Delhivery is the largest and fastest growing fully-integrated logistics player in India. The company provided supply chain solutions to a diverse base of Active Customers (excluding those serviced by Spoton) such as e-commerce marketplaces, direct-to-consumer e-tailers and enterprises and SMEs across several verticals such as FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive and manufacturing. This is achieved through high quality logistics infrastructure and network engineering, a vast network of domestic and global partners and significant investments in automation, all of which are orchestrated by the company’s self-developed logistics operating system that is guided in real-time by deep sources of proprietary network and environmental data. Together, these create powerful, intersecting flywheels that drive strong network synergies within and across its services and enhance its value proposition to customers.

Business area of the company

Delhivery provides a full range of Logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. The company also offers value-added services such as e-commerce return services, payment collection and processing, installation & assembly services, and fraud detection.

Major events and milestones

  • 2011: Incorporation of Company as a logistics services provider.
  • 2011: Launch of Transportation Management System.
  • 2013: Launch of Warehouse Management System.
  • 2013: Commencement of fulfilment business.
  • 2014: Launch of Netplan, network design tool.
  • 2015: Launch of Addfix, address resolution engine.
  • 2015: Launch of automated sorters in network.
  • 2015: Commencement of self-managed express surface line-haul network.
  • 2016: Commencement of part truckload services (PTL service offering).
  • 2016: Launch of ‘Constellation’, partner managed last mile delivery network.
  • 2018: Commencement of Truckload services (TL service offering).
  • 2018: Commencement of cross border service offering.
  • 2018: PaaS (Platform as a Service) soft launch in Sri Lanka and Bangladesh.
  • 2019: Commencement of Supply Chain Services.
  • 2019: Acquisition of Aramex’s India assets.
  • 2019: Entered into partnership with UPS.
  • 2019: Launch of tractor trailers in network.
  • 2019: Opened the Delhivery USA office.
  • 2020: Acquisition of Roadpiper Technologies Private Limited.
  • 2020: Launch of 3 mega trucking terminals in Tauru (Haryana), Bhiwandi (Maharashtra) and Bengaluru (Karnataka).
  • 2021: Acquisition of the business of Primaseller Inc.
  • 2021: Entered into a strategic alliance with FedEx.
  • 2021: Acquisition of Spoton Logistics Private Limited.
  • 2021: 1 billion express parcel shipments delivered since incorporation.
  • 2021: Acquisition of Transition Robotics, Inc. by Delhivery Robotics LLC.
  • 2022: Investment in Falcon Autotech Private Limited.
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