Delhivery Ltd

Financial Performance

• Q1FY27 revenue nearly Rs 3000 Cr, up 28% YoY
• EBITDA Rs 156 Cr, up 5% YoY
• Express volumes: 322 million packages, up 55% YoY
• PTL freight: 542,000 tonnes, up 18% YoY
• PTL yield near Rs 12; revenue growth >20% YoY
• Supply chain services revenue near Rs 200 Cr
• Delhivery Direct GMV ~ Rs 150 Cr; plan Rs 250 Cr
• Delhivery Maps launched; automation expansions in facilities

Operating Update

• Two large contracts started; profitability to stabilize in Q2-Q3
• Automation and technology upgrades to sustain market share
• Demand shaping engines improving load distribution across DCs

Segment and New Initiatives

• Delhivery Local and Direct explained: Local = intra-city LCVs; Direct = consumer app
• Delhivery Local ARR: Rs 150 Cr as of July FY27
• Delhivery Local ARR target for FY27: Rs 250 Cr
• Delhivery Local growth tracking; NBFC asset-light plan

Guidance and Outlook

• FY27 targets unchanged; environment expected benign
• Express volume growth guidance: 20-30%; closer to upper end
• Q2-Q3 ramp expected; August volumes robust; festive impact monitored

Q&A Takeaways

• Market share gains in express; both 3PL and insourced flows captured
• PTL yield uplift sustained; fuel pass-through ~6 paisa; rest organic
• Minimum wages pass-through; margins not structurally altered for FY27
• Costs of wage and fuel pass-through to be reflected in pricing negotiations
• Ahmedabad break-even for Delhivery Local by Q3; Jaipur earlier
• Contractual manpower expense ~Rs 371 Cr in Q1FY27

Meeting Details

• Date: August 17, 2026; Time: 9:00 AM–6:00 PM IST
• Event: Motilal Oswal 22nd Annual Global Investor Conference, 2026
• Meeting type: Investor Group; Mode: Physical; Location: Mumbai

Participants

• Key company participants: Company Secretary & Compliance Officer

Purpose

• Purpose: Investor conference participation for general investor interaction

Additional Notes

• Disclosure to be uploaded on the company website

Meeting Details

• Date and time: August 8, 2026 at 06:00 P.M. IST
• Type/Mode: group earnings conference call (audio)
• Event/organiser: Earnings Conference Call
• Key company participants: Company Secretary & Compliance Officer (signatory)
• Purpose: Discuss unaudited standalone and consolidated results for quarter ended June 30, 2026
• Recording availability: Audio recording on YouTube and company website

Executive leadership appointments

• Vani Venkatesh elevated to Deputy CEO, effective immediately.
• Joined Delhivery February 2025 as Chief Business Officer and KMP.
• Will lead Revenue, Marketing and Customer Experience with Operations coordination.

Other governance changes

• Ajith Pai to move on September 15, 2026 to pursue opportunities.
• Pai's responsibilities to be transitioned to the new executive operations leadership.
• Earlier 2026: Varun Bakshi named Chief Sales Officer; other COOs and CPO roles appointed.

Resignation of Chief Operating Officer

• Ajith Pai Mangalore resigns as COO and KMP, effective Sep 15, 2026, to pursue his other entrepreneurial interests.

Deputy CEO Appointment

• Appointment: Ms. Vani Venkatesh appointed Deputy Chief Executive Officer.
• Effective date: August 8, 2026; term per HR policy.
• Elevated from Chief Business Officer and KMP; will lead Revenue, Marketing and Customer Experience.
• Remains designated as Key Managerial Personnel.
• Reason: recommended by Nomination and Remuneration Committee; approved by Board.
• Profile: 20+ years across Airtel, McKinsey, Unilever and Abbott Nutrition.
• Qualifications: CA, CWA, Company Secretary; PGDM (IIMB).
• Relationship with directors: Not related to any director.
• Board/committee impact: No changes reported.

Q1FY27 financial highlights

• Revenue from services ₹2,931 Cr, +27.8% YoY.
• Express shipments 322 million, +55.2% YoY.
• PTL freight 542K MT, +18.4% YoY.
• Adjusted EBITDA ₹76 Cr (2.6%); EBITDA ₹156 Cr (5.3%); PAT ₹62 Cr pre-integration costs.
• Cash balance ₹4,677 Cr; capex 3.1% of revenue; net working capital 9 days.
• Ecom Express integration costs ₹165 Cr to date; no further costs expected.

Strategic initiatives and new ventures

• Delhivery Local active in 6 cities; expansion to 10 in FY27.
• DFS NBFC license received July 2026 for lending and insurance.
• Q1 investments in new businesses ₹32 Cr; FY27 outlay ₹130-160 Cr.
• Delhivery Maps launched; 200+ businesses in active integration discussions.

Financial highlights

• Revenue ₹2,931 Cr, +28% YoY.
• Express parcel volume 322 million shipments, +55% YoY.
• PTL 542K MT, +18% YoY.
• EBITDA ₹156 Cr, 5.3% margin.
• PAT ₹62 Cr before Ecom costs; consolidated ₹32 Cr.
• Cash balance ₹4,677 Cr.

New initiatives

• Rolled out SmartNDR, AI-powered service to reduce returns and improve delivery.
• ASRS commissioned at client warehouses to automate operations.
• Launched Delhivery Maps, AI-native mapping suite for logistics telemetry.
• Established Vishram, nationwide network of 1,000+ rest stops for delivery personnel.
• Introduced Abhayam welfare program for frontline workers.

IR / outlook

• Earnings call scheduled for 6:00 PM IST on Aug 8, 2026.
• Registration link shared with stock exchanges; replay available on IR site.