Delhivery announced a strong performance for Q2 FY26, driven by the festive season. Revenue from services increased by 16.3% YoY to ₹2,546 Cr, while EBITDA reached ₹150 Cr with a margin of 5.9%. Express Parcel shipments saw a 32.5% YoY increase to 246 Mn. The company continues to improve its working capital position and reduce capex intensity.
Financial Highlights
Delhivery reported robust financial results for Q2 FY26:
- Revenue from services: ₹2,546 Cr (16.3% YoY increase)
- EBITDA: ₹150 Cr (5.9% margin)
- Express Parcel shipments: 246 Mn (32.5% YoY increase)
- PTL freight tonnage: 477K Tons
- PAT: ₹59 Cr
H1 FY26 Performance
The company also highlighted its performance for the first half of FY26:
- Revenue from services: ₹4,840 Cr (11.0% YoY increase)
- EBITDA: ₹299 Cr (6.2% margin)
- Express Parcel shipments: 453 Mn
- PTL freight tonnage: 935K Tons
- PAT: ₹150 Cr
Operational Metrics
Key operational metrics as of the end of Q2 FY26 include:
- Pin-code serviceability: 18,830
- Countries and territories served: 220+
- Active Customers: 48,442
- Infrastructure: 22.05 million sq ft
- Gateways: 123
Ecom Express Acquisition Update
The acquisition of Ecom Express was completed on July 18, 2025, with financial consolidation effective from that date. The final purchase consideration was ₹1,369 Cr. Volume manifestation at Ecom ceased during Q1 FY26. Network rationalization is complete with 7 facilities retained. Integration cost in Q2 FY26 was ₹90 Cr.
Capex Intensity Reduction
Delhivery continues to focus on reducing capex intensity. Capital expenditure as a percentage of revenue from services has decreased to 5.1% in H1 FY26.
Source: BSE
