Brokers flag Delhivery FY27 as inflection year, target Rs 580-605 with 26-32% upside

Motilal Oswal and JM Financial reiterate BUY on Delhivery at CMP Rs 472.50, citing 25% revenue CAGR and EBITDA margin expansion to 6.7% by FY27. Ecom Express integration is expected to lift network density and unit economics, positioning FY27 as the strongest year yet for the Rs 35,371 cr m-cap logistics firm.

— Filed Mon, 22 Jun, 2026, 10:30 IST · Source Business Today · Latest · Updated

Motilal Oswal and JM Financial reiterate BUY on Delhivery with targets of Rs 580-605 (26-32% upside), citing 25% revenue growth, EBITDA margin expansion to 6.7% by FY27, and Ecom Express integration boosting network efficiency.

Why this matters

Bullish broker calls land as Delhivery diversifies beyond logistics, recently launching an AI-native maps platform to monetise its 200 Cr shipment data trove and challenge Google and Ola.

Retail-company signals steady at 3,401 over the last 90 days.

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