Delhivery shares set for 22% upside as MOSL sees 33% EBITDA CAGR over FY26-28
Delhivery stock ended 4.20% lower to close at Rs 455.70 today against the previous close of Rs Rs 475.70. Market cap of the firm fell to Rs 34,119 crore.
- May 18, 2026,
- Updated May 18, 2026 4:38 PM IST
Shares of Delhivery Ltd are set for a 22% upside post Q4 earnings, according to brokerage Motilal Oswal. However, the Delhivery stock ended 4.20% lower to close at Rs 455.70 today against the previous close of Rs Rs 475.70. Market cap of the firm fell to Rs 34,119 crore. The logistics solutions provider slipped to a 52 week low of Rs 320 on May 16, 2025 and hit a 52 week high of Rs 489.95 on November 4, 2025.
Earlier, the stock opened lower at Rs 471.95 on BSE.
In terms of technicals, the relative strength index (RSI) of Delhivery stands at 59.1, signaling it's trading neither in the oversold nor in the overbought zone.
The stock has a beta of 0.92, indicating average volatility in a year.
Shares of Delhivery are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
The brokerage expects the firm to clock a CAGR of 13%/33% in revenue/EBITDA over FY26-28E. "We reiterate our BUY rating with a revised DCF-based TP of Rs 580," said MOSL.
The logistics major's net profit remained flat on a year-on-year (YoY) basis. Profit stood at Rs 73.4 crore in Q4 compared to Rs 72.6 crore in the same period a year ago. The Gurugram-based firm had reported a loss of Rs 39.6 crore in the previous quarter.
Net profit for FY26 slipped 6% to Rs 152.5 crore from Rs 162.1 crore in the previous year. Revenue from operations climbed 30 percent YoY to Rs 2,850 crore in Q4 against Rs 2,191.6 crore a year ago. On a sequential basis, revenue rose to Rs 2,805 crore in Q3 FY26.
For the full year, the firm’s revenue climbed almost 18 percent to Rs 10,508.3 crore compared to Rs 8,931.9 crore in the previous fiscal.
Delhivery clocked earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 764 crore in FY26.
MOSL said, "Delhivery was well positioned for future growth, supported by strong momentum in its core transportation businesses and a clear focus on profitability. With Express Parcel and PTL segments delivering strong volume growth and healthy service EBITDA margins, the company expects to sustain 16-18% margins over the next two years. The integration of Ecom Express is set to enhance network efficiency and reduce capital intensity, while new services like Delhivery Direct and Rapid offer long-term growth potential in on-demand and time-sensitive logistics."
Delhivery is engaged in providing a full range of logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software.
Shares of Delhivery Ltd are set for a 22% upside post Q4 earnings, according to brokerage Motilal Oswal. However, the Delhivery stock ended 4.20% lower to close at Rs 455.70 today against the previous close of Rs Rs 475.70. Market cap of the firm fell to Rs 34,119 crore. The logistics solutions provider slipped to a 52 week low of Rs 320 on May 16, 2025 and hit a 52 week high of Rs 489.95 on November 4, 2025.
Earlier, the stock opened lower at Rs 471.95 on BSE.
In terms of technicals, the relative strength index (RSI) of Delhivery stands at 59.1, signaling it's trading neither in the oversold nor in the overbought zone.
The stock has a beta of 0.92, indicating average volatility in a year.
Shares of Delhivery are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.
The brokerage expects the firm to clock a CAGR of 13%/33% in revenue/EBITDA over FY26-28E. "We reiterate our BUY rating with a revised DCF-based TP of Rs 580," said MOSL.
The logistics major's net profit remained flat on a year-on-year (YoY) basis. Profit stood at Rs 73.4 crore in Q4 compared to Rs 72.6 crore in the same period a year ago. The Gurugram-based firm had reported a loss of Rs 39.6 crore in the previous quarter.
Net profit for FY26 slipped 6% to Rs 152.5 crore from Rs 162.1 crore in the previous year. Revenue from operations climbed 30 percent YoY to Rs 2,850 crore in Q4 against Rs 2,191.6 crore a year ago. On a sequential basis, revenue rose to Rs 2,805 crore in Q3 FY26.
For the full year, the firm’s revenue climbed almost 18 percent to Rs 10,508.3 crore compared to Rs 8,931.9 crore in the previous fiscal.
Delhivery clocked earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 764 crore in FY26.
MOSL said, "Delhivery was well positioned for future growth, supported by strong momentum in its core transportation businesses and a clear focus on profitability. With Express Parcel and PTL segments delivering strong volume growth and healthy service EBITDA margins, the company expects to sustain 16-18% margins over the next two years. The integration of Ecom Express is set to enhance network efficiency and reduce capital intensity, while new services like Delhivery Direct and Rapid offer long-term growth potential in on-demand and time-sensitive logistics."
Delhivery is engaged in providing a full range of logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software.