Delhivery

BHold

DELHIVERY · NSE · Mid Cap · Logistics — 3PL

Logistics — 3PL

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₹380

1D 0.3%1M 1.5%1Y 5%

Fundamental (RQ-100)

Technical (TQ-100)

Valuation

Market cap

₹28.0K Cr

Live decision ratingDSell / Avoid

Fundamental score breakdown

39/100

Growth Quality

16.1 / 20

Rev 1Y 15.0%, 3Y CAGR 22.0%, 5Y CAGR 38.0%

Margin & Profitability

0.8 / 15

EBITDA 4.0%, PAT -2.0%

Return on Capital

1.2 / 20

ROCE 1.0%, ROE -3.0%

Cash Flow Quality

7.0 / 15

OCF/EBITDA 0.60

Leverage

10.0 / 10

ND/EBITDA -3.00

Reinvestment

8.0 / 8

Capex/Sales 5.0%

Accounting

2.0 / 7

Governance

4.0 / 5

Red flags (penalty)

-10.0 / 0

Technical score breakdown

47/100

Trend Structure

8.0 / 20

↓ 200 · ↓ 50 · ↓ 20

Momentum

8.0 / 15

1Y 5.0%, 1M 1.5%

Volume Dynamics

8.0 / 15

Vol30 —%

Relative Strength

8.0 / 15

1Y 5.0%

MA Cluster

5.0 / 10

Extension

5.0 / 10

—% from 50DMA

Volatility

4.0 / 8

Price Action

1.0 / 7

-100.0% from 52W H

Business

What this company actually does

Largest listed pure-play 3PL. Ecom, PTL, supply chain services, cross-border.

Stores

—

Dark stores

—

Cities

—

Listed status

Listed

Format exposure

How direct is this play?

Primary formatLogistics — 3PL

Exposure typePure-play

Revenue visibilityMedium

Operating leverage stageInvestment

Policy beneficiaryNone

Data confidenceMedium

Financial snapshot

Live · green dot = live, falls back to curated

Revenue

₹9.0K Cr

Rev 1Y growth

15%

Rev 3Y CAGR

22%

EBITDA margin

4.0%

PAT margin

-2.0%

ROE

-3%

ROCE

OCF/EBITDA

0.60

Net Debt/EBITDA

-3.0

Financial statements

Multi-year P&L, balance sheet, cash flow — scraped live from Screener.in

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Valuation

Live multiples + retail-specific (curated)

P/E

—

Forward P/E

—

EV/EBITDA

EV/Sales

3.0

P/B

3.0

FCF Yield

0.9%

Aggressive multiple. Needs flawless execution to justify.

Investment thesis

AI-generated · always cite sources before acting

Bull

Compounding revenue at 22% CAGR. Pure-play exposure to Logistics — 3PL. Long-runway TAM with structural tailwinds.

Base

Earnings growth of ~24% over the next 3 years assuming margins hold. Multiple compression risk if growth slows; multiple expansion possible if Logistics — 3PL GMV outperforms.

Bear

Premium multiple has no margin for error. Capital efficiency below cost of capital. Format-level risk: regulation, gig-cess, or competitive pressure compress contribution margin.

Variant perception

Consensus views Delhivery as a challenged player. Our differentiated take: the current multiple already prices in mid-cycle outcomes.

Key monitorables