Delhivery Limited (DELHIVERY) Earnings Call Transcripts

Delhivery Limited's Latest Earnings Call - Q4 FY2026

Delhivery Limited reported strong results for Q4 FY '26 and FY '26, with revenue exceeding INR 10,486 crores and a PAT of INR 347 crores, translating to a 3.2% margin. The company achieved a significant milestone by delivering over 1 billion packages and 2 million metric tons of freight. The company turned free cash flow positive, generating INR 89 crores, a year ahead of plan. Management highlighted the completion of the Ecom Express acquisition and maintained margins at the upper end of their guidance. Guidance for future growth remains optimistic with continued investment in technology and new business verticals.

Reported metrics

Guidance from management

Management maintained a positive outlook, with continued investments in technology and new verticals. They anticipate continued growth in core businesses and a shift towards 3P logistics.

What management said

Yes. So it's across not just direct customers, but also aggregators. There's no question. We've gained a lot of share. growth in both those segments has actually been very high, whether customers come to us directly as SMEs or D2C brands or whether it's come via aggregators. And is there an opportunity for us to continue to gain market share within that segment? Absolutely. One of the other ways that we have also gai...

Sure. Thanks, Sahil. So as you pointed out, so we've taken that journey to obviously improve our margins to where they are. We will continue to maintain a disciplined approach in client selection and to make sure we manage our internal hurdles. And if you look at the pipeline as well, it's broadly in line with our focus sectors as well. So the -- we do expect and we will maintain that the pipeline and the sectors tha...

What analysts pressed on

Analysts questioned the impact of fuel price increases on costs and consumption, and competitive pressures from Amazon's 3PL expansion. Concerns were also raised about the sustainability of working capital improvements and the potential for further industry consolidation.

Main topics on the call

• Earnings and Revenue Growth — Revenue from services stood at INR 10,486 crores with an EBITDA of 7.3% at INR 764 crores. PAT came in at INR 347 crores. Management highlighted a 40% growth in shipments and a 46% YoY revenue growth in Express.
• Free Cash Flow and Capital Efficiency — Delhivery turned free cash flow positive at INR 89 crores, one year ahead of plan. CapEx intensity reduced from 7.8% to 4.7% of revenue.
• Supply Chain Solutions Turnaround — Supply Chain Solutions expanded service EBITDA 4x to INR 79 crores with a margin model established and a healthy pipeline.
• AI and Technology Investments — Investments in AI and robotics have improved operational efficiency, with AI deployed across operations and investments in facility automation.

Read the full Delhivery Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 14 Delhivery Limited earnings call transcripts on record, spanning May 31, 2022 to August 8, 2026. Based on this history, Delhivery Limited reports semi-annually. The most recent call on file is dated August 8, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

DELHIVERY

Exchange

NSEI

Country

IN

Sector

Industrials

Industry

Air Freight and Logistics

Calls on record

14

First call

May 31, 2022

Most recent

August 8, 2026

Reporting cadence

semi-annually