CEO Sahil Barua argues captive networks deprioritise third-party shipments and run costlier, dismissing Amazon's India 3PL expansion as repackaged. Delhivery posted Q4 FY26 revenue of Rs 2,850 cr (+30% YoY) and Rs 72 cr profit; shares fell 4% to Rs 456, valuing it at Rs 34,175 cr (~$3.7B).

Entrackr · Newsletter · 5/18/2026, 9:52:52 AM

Q4FY26 revenue rose 26.31% YoY to ₹2,909 cr but net profit held at ₹72.39 cr. Express parcel volumes surged 73% to 306 mn post Ecom Express integration, pushing FY26 volumes past 1 bn. FY26 PAT slipped 6.81% to ₹152.54 cr. Brokerages stay constructive with targets of ₹480-630.

The Hindu BusinessLine · 5/18/2026, 7:52:33 AM

Delhivery's Q4 FY26 net profit stuck at ₹72.4 Cr despite revenue rising 30% YoY to ₹2,850 Cr and EBITDA nearly doubling to ₹231 Cr. Shipments grew 40% to 1,054 Mn. UBS, Citi, Nuvama stayed Buy; Goldman Neutral. Ecom Express integration in focus as stock hit ₹447.85, market cap ₹33,901.9 Cr.

Inc42 · 5/18/2026, 6:14:38 AM

Q4FY26 revenue hit Rs 2,850 cr (+30% YoY) and EBITDA surged 80% to Rs 214 cr with margin at 7.5%, but net profit stayed flat at Rs 72.3 cr. Shares fell 5.29% to Rs 453.10 as Goldman flagged softer realisations and Ecom Express integration drag; UBS and Citi retained Buy on FY26 e-commerce volume guidance of +40%.

NDTV Profit · 5/18/2026, 5:45:42 AM

Delhivery posted a strong Q4 FY26 print, powered by consumption-led volume growth, Ecom Express integration synergies, and market share gains. Motilal Oswal stays bullish, modeling 13% revenue and 33% Ebitda CAGR over FY26-28 and a revised target price of Rs 580.

NDTV Profit · 5/18/2026, 2:54:06 AM