Delhivery Shares Rally 15% After Q4 Results

Shares of logistics giant Delhivery soared 14.6% to INR 367.90 apiece during the intraday trading session on the BSE today, following its strong financial performance in the fourth quarter of FY25.

The stock closed 9.4% higher at INR 351.30 per share on the BSE, compared to its last close of INR 321 apiece on Friday.

Notably, the stock ended the day in green after ending the past three consecutive sessions in red. The stock’s leap so far, has marked its best day since December 18, 2024.

The startup reported a consolidated net profit of INR 72.6 Cr in Q4 FY25 as against a loss of INR 68.5 Cr in the year-ago quarter. The company reported its maiden profitable fiscal year in FY25, with a net profit of INR 162.1 Cr as against a loss of INR 249.2 Cr in FY24.

Delhivery’s operating revenue grew 6% to INR 2,191.6 Cr in the quarter under review, from INR 2,075.5 Cr in Q4 FY24.

Brokerage firm JM Financial has raised the startup’s target price (PT) on the stock to INR 380 from INR 360 previously. Also, it maintained the “buy” rating on Delhivery.

Last month, Delhivery informed the stock exchanges that it will be acquiring a 99.4% stake in Ecom Express for INR 1,407 Cr via distressed sale. JM Financial said that the buyout is expected to be a “significantly positive trigger” as it will enable the startup to gain incremental scale.

The brokerage further added, “the Delhivery-Ecom combine would also see higher service EBITDA thanks to pricing discipline emerging as well as substantial operating leverage.”

With Delhivery launching its rapid commerce operations in selective cities, including Bengaluru, Hyderabad and Chennai earlier this year, JM Financial said, “Initially positioned as an add-on service to serve D2C brands, rapid commerce is also now witnessing traction from B2B customers, as they are also appreciative of a quicker supply chain ecosystem.”

To boost this segment, the SoftBank-backed company roped in founding member and former executive Milind Sharma as the head of its rapid commerce and D2C brand verticals.

On the other hand, the Gurugram-based logistics company has received tax demand notices from various states.

For instance, earlier this month, it received a demand notice amounting to INR 49.19 Cr, including interest and penalty, from the Directorate General of GST Intelligence (DGGI), Mumbai Zonal Unit.

Prior to that, in February, Delhivery received a tax demand order from the West Bengal GST department, asking it to pay INR 5.35 Cr. Last year, it also got a notice from Karnataka GST authorities of nearly INR 5.5 Lakh.