Delhivery Limited reported a robust start to the fiscal year with Q1 FY27 revenues reaching nearly ₹3000 Cr, marking a 28% year-on-year increase. The company’s EBITDA stood at ₹156 Cr, reflecting a 5% growth. Despite facing challenges like labor shortages and geopolitical uncertainty, Delhivery achieved record package volumes and saw improved yields in its PTL business.
Delhivery Limited: Q1 FY27 Earnings Call Highlights
August 13, 2026 – Delhivery Limited has announced its financial results for the first quarter of FY27, highlighting strong revenue growth and operational performance. The company reported total revenues of nearly ₹3000 Cr for Q1 FY27, a significant increase of 28% year-on-year compared to Q1 FY26. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter stood at ₹156 Cr, up approximately 5% year-on-year.
Key Performance Indicators and Challenges
During the earnings call, MD & CEO Sahil Barua noted that Q1 was an ‘interesting quarter’ marked by several industry-wide challenges. These included chronic labor shortages, disruptions from elections and weather, geopolitical uncertainty leading to inflation, and changes in statutory labor codes. Despite these headwinds, the company delivered record volumes, with its express business handling 322 million packages, a 55% year-on-year growth. The PTL (Part Truckload) business also showed strong performance, delivering approximately 542,000 tonnes of freight, an 18% year-on-year growth, with yields rising to nearly ₹12, contributing to over 20% revenue growth in the segment.
Segment Performance and Future Outlook
The Supply Chain Services (SCS) business reported revenues of nearly ₹200 Cr for Q1. Profitability in this segment was impacted by the commencement of two large contracts, which are expected to stabilize in Q2 and early Q3. New initiatives, such as Delhivery Direct, are performing ahead of expectations, with GMV already reaching approximately ₹150 Cr against a full-year target of ₹250 Cr. The company also launched Delhivery Maps, a proprietary GIS-based platform. Management expressed optimism for the rest of FY27, anticipating a more benign environment and no significant changes to the company’s medium or long-term growth and profitability targets. Automation investments are seen as key to sustaining market share growth.
Addressing Market Dynamics
Discussions also covered express volume growth guidance of 20-30%, with management indicating a likely position towards the higher end of this range. The company is focusing on its core strengths in network structure, technology, product, and engineering to navigate the challenging operating environment and mitigate risks, including labor availability and wage inflation. Delhivery maintains its target of 16-18% service EBITDA for Express and PTL segments, aiming to exit FY27 at 15-15.5% for PTL.
Source: BSE
