Delhivery shares hit 52-week high, up 14% since Q1 earnings; more upside ahead?

Shares of Delhivery Ltd rose over 1% on Friday to hit a fresh 52-week high in early deals. Delhivery stock climbed 1.46% to Rs 474 against the previous close of Rs 467.15 on BSE. Market cap of the firm rose to Rs 35,051 crore. It slipped to a 52 week low of Rs 236.80 on March 13, 2025. The logistics stock opened higher at Rs 474 in the current session. The stock has gained 14% since Q1 earnings. The earnings were announced on August 1. 

In terms of technicals, the relative strength index (RSI) of Delhivery stands at 68.1, signaling it's trading neither in the oversold nor in the overbought zone. 

The stock has a beta of 0.9, indicating average volatility in a year. 

Shares of Delhivery are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.   

Motilal Oswal has reiterated its buy call on the stock with a revised price target of Rs 540. 

The brokerage says  Delhivery is 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 consistent volume growth and
healthy service EBITDA margins, the company is likely to 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 longterm growth potential in on-demand and time-sensitive logistics, according to the brokerage. 

"We expect the company to report a CAGR of 14%/38%/53% in Sales/ EBITDA/APAT over FY25-28. Reiterate BUY with a revised TP of INR540 (based on DCF valuation)," said MOSL. 

Delhivery reported a 67% rise in consolidated net profit year-on-year rising to Rs 91 crore. The growth was underpinned by a 6% rise in revenue to Rs 2,294 crore, facilitated by substantial volume growth in its core business segments.

Operating profit (EBITDA) rose 53%, totalling Rs 149 crore, with an enhanced EBITDA margin of 6.5% compared to 4.5% the previous year. Express parcel shipments grew by 14% YoY to 208 million, contributing to a 10% revenue increase to Rs 1,403 crore. Furthermore, the part truckload business also experienced gains, with tonnage and revenue rising by 15% and 17% respectively. The service EBITDA margin for this segment surged to 10.7%, a significant improvement from 3.2% last year.

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.