Delhivery Limited — Q2FY27 earnings call summary

Filed 05 November 2026 · Official transcript

FY27 express volume growth expected at upper end of 20-30% guidance; PTL volumes to return to 20%+ growth
AI and automation investments driving cost savings and productivity; corporate overheads expected to reduce to ~7% of revenue in 24 months
Express EBITDA margin expected around 17% for FY27; PTL margins to improve YoY
New businesses: Delhivery Local run rate >Rs. 200 Cr, breakeven expected by Q4FY27; Delhivery International Rs. 140-150 Cr run rate, service EBITDA profitable
Overall transportation margins expected to expand 130-150 bps YoY
Market share stable or growing in D2C and 3PL segments; non-ecommerce express market offers significant growth opportunity
Price hikes ongoing with contracts covering inflation; lag in pass-through reduced
Q2FY27 revenue crossed Rs. 3,000 Cr (+20% YoY); adjusted EBITDA Rs. 123 Cr (4% margin), PAT Rs. 41 Cr