Delhivery Limited · NSE:DELHIVERY
Delhivery — Q2 FY27 Earnings Presentation
17 slides from Delhivery's earnings presentation, Oct 30, 2026
Slide 1: Exchange filing cover letter for earnings call presentation
Date: October 30, 2026 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 India Bandra (E), Mumbai – 400 051 India Scrip Code: 543529 Symbol: DELHIVERY Sub: Investor Presentation for the ‘
Slide 2: Earnings Presentation Q2FY27
Earnings Presentation Q2FY27
Slide 3: Safe harbour and disclaimer
Safe harbour and disclaimer This Presentation is prepared by Delhivery Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any particular person and nothing in it shall be construed as an invitation, offer, solicitation, r
Slide 4: Q2FY27 & H1FY27 financial highlights
Q2FY27 & H1FY27 financial highlights Continued growth momentum Q2FY27 H1FY27 325 Mn 545K MT 647 Mn 1,087K MT Express Parcel shipments PTL freight tonnage Express Parcel shipments PTL freight tonnage YoY: 32.1% / QoQ: 0.8% YoY: 14.2% / QoQ: 0.7% YoY: 42.7% YoY: 16.3% ₹3,066 Cr ₹3,133 Cr ₹5,997 Cr ₹6,
Slide 5: Q2FY27 Transport highlights
Q2FY27 Transport highlights Continued growth momentum Transport (Express+ PTL) Express parcel shipments Express parcel revenue revenue (₹ Cr) (Mn) (₹ Cr) YoY: 22.1% YoY: 21.7% YoY: 32 .1% 2,633 1,961 325 1,611 2,157 246 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Transport (Express + PTL) PTL freight
Slide 6: H1FY27 Transport highlights
H1FY27 Transport highlights Continued growth momentum Transport (Express+ PTL) Express parcel shipments Express parcel revenue revenue (₹ Cr) (Mn) (₹ Cr) YoY: 26.2 % YoY : 4 2 .7% YoY: 27.1% 5,135 3,830 647 4,069 3,015 453 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Transport (Express + PTL) PTL freig
Slide 7: Service line-wise profitability
Service line - wise profitability ₹ Cr Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 FY25 FY26 Transport (Express + PTL) Revenue 2,157 2,417 2,453 2,502 2,633 7,207 8,939 Adjusted EBITDA 87 177 194 128 166 264 561 % margin 4.1% 7.3% 7.9% 5.1% 6.3% 3.7% 6.3% Supply Chain Services Revenue 170 171 185 199 191 907
Slide 8: Consistent reduction in capital intensity
Consistent reduction in capital intensity Net Working Capital Days Capex(3) as % of revenue 38 28 22 17 11 5 7.8% 7.4% 5.2% 4.7% 5.1% 4.8% 77 62 0.5% 0.4% 57 53 44 3.7% 3.3% 39 41 0.4% 0.5% 34 35 36 36 0.4% 33 0.9% 2.1% 2.5% 1.6% 2.6% 1.7% 1.7% 0.8% 0.3% 0.2% 0.1% 1.8% 2.1% 1.9% 1.9% 1.9% 1.8% Mar'2
Slide 9: Appendix
Appendix
Slide 10: Key operational metrics
Key operational metrics At the end of / for the period Q2FY26 Q1FY27 Q2FY27 Pin - code (1) 18,830 18,810 18,799 Countries and territories served (2) 220+ 220+ 220+ No. of active customers (3) 48,442 54,096 59,704 Infrastructure (in million sqft) 22.0 23.3 25.2 Gateways 123 136 144 Automated sort cen
Slide 11: Quarterly Income Statement
Quarterly Income Statement ₹ Cr Q2FY26 Q1FY27 Q2FY27 Income Revenue from services 2,559 2,931 3,066 Other income 92 114 67 Total income 2,652 3,045 3,133 Expense Total freight, handling and servicing costs 1,843 2,152 2,195 Employee benefit expense 426 429 446 Employee benefit expense excl. share ba
Slide 12: Service line-wise profitability
Service line - wise profitability ₹ Cr Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Revenue from services (1) 2,172 2,190 2,378 2,191 2,290 2,536 2,785 2,828 2,898 3,017 Total Service EBITDA 258 203 256 271 298 334 421 448 379 433 % margin 11.9% 9.3% 10.7% 12.4% 13.0% 13.2%
Slide 13: Adjusted EBITDA bridge
Adjusted EBITDA bridge ₹ Cr Q2FY26 Q1FY27 Q2FY27 H1FY26 H1FY27 Remarks Total revenue from services 2,559 2,931 3,066 4,853 5,997 Less: Freight, handling and 1,843 2,152 2,195 3,481 4,347 servicing costs Less: Employee benefit expenses 426 429 446 778 875 Less: Other expenses 223 207 220 377 428 Repo
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (₹ Cr) Mar’26 Sep’26 Equity and Liabilities (₹ Cr) Mar’26 Sep’26 Property, plant & equipment (incl. CWIP) 1,597 1,702 Total equity 9,687 9,816 Right of use assets 1,318 1,312 Lease liabilities 1,460 1,465 Intangible assets (incl. goodwill) 2,518 2,494 Borrowings 3 0
Slide 15: Consolidated Cash Flow Summary
Consolidated Cash Flow Summary ₹ Cr H1FY26 FY26 H1FY27 Net cash from / (used in) operating activities A 215 911 525 Cash generated from operations 273 935 418 Cash operating profit before working capital changes 373 900 543 Changes in net assets (1) (100) 35 (125) Income taxes paid (58) (23) 107 Net
Slide 16: Employee stock options
Employee stock options ESOP split (as of Sep 30, 2026) Estimated P&L charge (non - cash) for ESOPs already granted (3) % of shares Total outstanding on a ₹ Cr fully diluted basis ESOPs granted, of which FY27 141 Vested (unexercised) 58,45,403 0.7% FY28 109 Unvested 1,63,15,395 2.0% FY29 52 ESOPs ung
Slide 17: Thank You
Thank You For any queries, please write to us at [email protected]