Shipping and commerce-enablement software for small online sellers and D2C brands - books any courier, checkout, and fulfilment from one dashboard; listed Aug 2026
Price
₹125.00
snapshot 6 Nov 2026
Strengths
Asset-light: earns per shipment without owning trucks or riders
Large base of small D2C and social sellers outside the big marketplaces
Risks
Merchants can go direct to couriers as they grow
Still building profitability at listing
Key stats — company snapshot as of 6 Nov 2026
Mkt Cap
₹9,077 Cr
Stock P/E
—
Div Yield
0%
ROCE
−2.7%
ROE
−5.1%
P/B
—
Revenue growth
+24.0%FY26
Profit growth
Loss widenedFY26
Net margin
−3.9%FY26
1Y vs Nifty
—
Revenue, ₹ Cr (5-yr) — company table
611FY22
1,089FY23
1,316FY24
1,632FY25
2,024FY26
Stock price return · as of 6 Nov 2026
TrendNot enough history
52-week range as of 6 Nov 2026 vs snapshot price · 20% below its high
Market cap, ratios, CAGR and revenue: company table snapshot as of 6 Nov 2026 (the same figures on every page). Price: snapshot as of 6 Nov 2026. Not investment advice.
Where it fits
Picks up parcels from sellers and warehouses, sorts them in large automated hubs, line-hauls them across the country and delivers the last mile, including cash-on-delivery and returns. Shiprocket sits on top as software, letting small sellers book any courier from one dashboard; Shadowfax specialises in hyperlocal and last-mile riders for quick commerce and food.
Why it matters
Every e-commerce parcel needs moving, so logistics grows with order volume whoever wins the storefront war. The independent networks also gain as Meesho and D2C brands avoid being tied to Flipkart's Ekart or Amazon's in-house fleet.
Where the value pool sits
Express parcel is a scale business with mid-single-digit EBITDA margins; utilisation of hubs and line-haul decides profit. Delhivery shipped ~325 million express parcels in Q2 FY27 (+32%) after absorbing Ecom Express. Pricing pressure is constant because the largest shippers also run captive fleets.
Key drivers
E-commerce parcel growth outside the metros
Consolidation after Delhivery's Ecom Express buyout (2025)
Quick-commerce and hyperlocal delivery demand
Part-truckload freight and B2B logistics
Potential bottlenecks
Customer concentration: Meesho and a few marketplaces drive a large share of parcels
Captive fleets (Ekart, Amazon Transportation, Meesho's Valmo) take volume in-house