Delhivery shares hit 52-week high on robust Q1; up nearly 100% in just 4 months 

Shares of Delhivery rallied over 6% to hit a fresh 52-week high on Monday after the logistic company delivered strong financial performance for its June quarter of the current fiscal. The e-commerce logistics provider’s net profit jumped 67% year-on-year (YoY), driven by robust volume growth and improved service EBITDA margins, despite the impact of seasonality and cost escalations.

Boosted by strong Q1 numbers, Delhivery's shares surged as much as 6.5% to touch a new 52-week high of ₹457.95 on the BSE. The Delhivery share price has nearly doubled in the past five months, rebounding from its 52-week low of ₹236.80 hit on March 13, 2025.

At the time of reporting, Delhivery shares were trading at ₹455.30, up 5.9%, with a market capitalisation of ₹33,992 crore. The logistic stock has delivered a positive return of 31% in the calendar year 2025, while it has risen 12% in the past one year and 38% in the past six months. The counter has added nearly 17% in a month.

For the April-June quarter of the current fiscal, Delhivery reported a 67% jump in net profit to ₹91 crore, aided by better-than-expected express parcel shipments and freight truckload. The revenue from services rose 5.6% YoY to ₹2,294 crore. This was the fifth consecutive quarter when Delhivery registered a profit.

On the operating front, EBITDA surged 53% YoY to ₹150 crore in Q1 FY26, which margin improved to 6.5%. 

Delhivery’s core transportation segment, comprising Express Parcel and Part Truckload (PTL), saw healthy volume growth of 10% YoY and 15% YoY, respectively, supported by improved services and network utilisation. Service EBITDA margins for Express Parcel and PTL stood at 16.3% and 10.7%, respectively, indicating the firm’s operational efficiency and scale advantages.

Analysts remain bullish on Delhivery

Analysts are bullish on Delhivery post its Q1 results, saying that the company is well-positioned for future growth, supported by strong momentum in its core transportation businesses and a clear focus on profitability.

Motial Oswal reiterated ‘BUY’ call on the stock, with a revised target price of ₹500, expecting Delhivery to report a CAGR of 14%/38%/53% in sales/EBITDA/APAT over FY25-28E.

“With Express Parcel and PTL segments delivering consistent volume growth and healthy service EBITDA margins, the company expects to sustain 16-18% margins over the next two years,” it said.

On the recent acquisition of Delhivery's competitor, Ecom Express, the brokerage said that the integration of Ecom Express is set to enhance network efficiency and reduce capital intensity, while new services like Delhivery Direct and Rapid offer long term growth potential in on-demand and time-sensitive logistics. 

ICICI Securities has also maintained ‘BUY’ on the stock, with a higher price target of ₹600, rolling forward its valuation by six months. “Our TP implies 39x 1-year forward EV/EBITDA, up from 34x earlier,’ it said. The agency believes that Delhivery should be a key beneficiary of demand recovery in e-commerce and consolidation in the express parcel segment.

Emkay Global has also maintained ‘BUY’ on the stock and revised target price of ₹450, up 10% from earlier estimate of ₹410. The brokerage said that the company’s market leadership position should allow it to tide over industry headwinds like insourcing. Additionally, Delhivery’s foray into new products like rapid commerce and on-demand intracity trucking could create adjacent growth vectors in the future as well as further drive revenue diversification, it said.

JM Financial has also reiterated ‘BUY’ with an increased price target of ₹500, factoring in improved growth and margin outlook and lesser capex intensity. It believes the changed industry landscape can result in a sustained uptick for Delhivery.

“We increase EPS revenue by 14-15% over FY26-29E mainly due to Meesho’s insourcing plateauing, and inorganic volume from Ecom Express,” it said.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)