Delhivery gains as foreign brokerage raises target price to Rs 610, retains 'Buy'
The brokerage expects express parcel volumes to remain robust and said there has been no material change in e-commerce platform Meesho's plans to expand in-house logistics operations. This eases concerns over potential business loss for third-party logistics providers.
The broker also expects the company's part-truckload (PTL) business to sustain its growth momentum, while the supply chain services (SCS) segment is likely to accelerate, although it expects some near-term margin pressure.
Delhivery is India's largest fully-integrated logistics services provider. With its nationwide network covering over 18,850 pin codes, the company provides a wide range of logistics services such as express parcel transportation, PTL freight, TL (Truckload) freight, cross-border, supply chain, and technology services.
The logistics company reported a marginal 0.22% year-on-year decline in consolidated net profit to Rs 72.39 crore in Q4 FY26 from Rs 72.55 crore a year earlier. Revenue from operations rose 30.04% YoY to Rs 2,849.99 crore.
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