Delhivery Limited — Q1FY27 earnings call summary

Filed 13 August 2026 · Official transcript

Structural pricing stable; no expected pricing pressure despite inflation
FY27 guidance: Express service EBITDA margin 16-18%, PTL margin to exit near 15-15.5%
Delhivery Direct GMV ahead of plan at Rs.150 Cr, expected to exceed Rs.250 Cr target for FY27
New initiatives investments mainly in Delhivery Local, growing faster than expected
Market share gains from 3PL consolidation and shift from in-house logistics
Inflation impact: fuel pass-through mostly in Q2; minimum wage increases passed gradually
Q1FY27 revenue nearly Rs.3000 Cr, +28% y-y; EBITDA Rs.156 Cr, +5% y-y
Express volumes grew 55% y-y to 322 million packages; PTL freight grew 18% y-y with yield near Rs.12