Remember when logistics used to be boring spreadsheets and trucks? Delhivery just turned it into a Marvel sequel — “The Integration Strikes Back.” With Ecom Express now under its belt and festive season madness fueling volumes, the company is moving more parcels than Gen Z moves through dating apps. But here’s the kicker — it’s finally making real money while doing it. Sahil Barua and team claim it’s “operational stability,” but you can smell the flex. Keep reading — the numbers start to sound like punchlines later.
2. At a Glance
Revenue ₹2,546 Cr (+16% YoY): Growth couriered faster than your Amazon One-Day order.
PAT ₹59 Cr (vs ₹10 Cr): Profits finally found their delivery address.
Margins 5.9%: Even fuel prices couldn’t deflate this ride.
Cash ₹4,200 Cr: Enough to buy every toll booth between Delhi and Chennai.
Express Shipments 246 Mn (+32.5% YoY): When Delhivery says “high volume,” they mean it literally.
3. Management’s Key Commentary
Sahil Barua: “We completed Ecom Express integration with operational stability.” (Translation: For once, an Indian merger didn’t look like a WhatsApp family group argument.)
Vani Venkatesh: “EBITDA margins jumped from 2.2% to 5.9%.” (She’s basically saying, ‘We finally found the profit switch.’)
Barua: “We’re within our ₹300 Cr integration cost envelope.” (A rare case where management didn’t tear the envelope.)
Vani: “Supply Chain Services margins grew from -4.4% to +12.8%.” (Somewhere, their warehouse managers are doing a victory dance.)
Barua: “Express margins can go beyond 18%.” (If logistics had a gym, Delhivery’s margins just bulked up.)
Vivek Pabari: “Working capital is now under 20 days.” (Basically, customers are paying before the parcels even reach them 😏)
Barua: “We hit 7.2 million shipments in a single day.” (Meanwhile, half of India couldn’t even find their Swiggy rider.)
