Delhivery Ltd is India’s largest fully integrated logistics company, offering end-to-end supply chain solutions including express parcel delivery, freight (PTL/FTL), warehousing, cross-border logistics, and value-added services like e-commerce returns, cash-on-delivery, and installation support. Founded in 2011 and headquartered in Gurugram, Delhivery went public in May 2022 via a ₹7,460 Cr IPO. The company serves over 18,900+ pin codes across India and has expanded into international markets through its Singapore and UK subsidiaries. Despite turning profitable only recently, it has attracted strong institutional interest due to its scalable tech-enabled model and leadership in organized logistics. This article provides a data-backed outlook on the Delhivery share price target 2026–2030.
Delhivery Ltd: Company Overview
- Founded: 2011
- IPO Date: May 2022 (₹487 per share)
- Key Segments: Express Logistics, Freight, Warehousing, Cross-Border, Supply Chain Software
- Market Position: #1 integrated logistics player in India by revenue (FY25)
- Ownership: No promoters; backed by Tiger Global, SoftBank, Fosun, and Carlyle
Delhivery benefits from India’s e-commerce boom, organized logistics penetration (still <15%), and government push for supply chain modernization. However, it remains a capital-intensive business with thin margins and high competition.
Delhivery Ltd: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹422.50 |
| Market Capitalization | ₹31,615.37 Cr |
| No. of Shares Outstanding | 74.83 Cr |
| 52-Week High / Low | ₹490 / ₹237 |
| P/E Ratio (TTM) | 160.76 |
| P/B Ratio | 3.14 |
| EPS (TTM) | ₹2.63 |
| Book Value (TTM) | ₹134.76 |
| ROE | 1.22% |
| ROCE | 2.42% |
| Dividend Yield | 0.00% |
| Face Value | ₹1 |
| Cash | ₹253.43 Cr |
| Total Debt | ₹39.67 Cr |
| Debt-to-Equity | 0.03 |
| Sales Growth (YoY) | 10.71% |
| Profit Growth (YoY) | 166.99% |
| Promoter Holding | 0.00% |
Delhivery Ltd Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹450 – ₹510 |
| 2027 | ₹480 – ₹560 |
| 2028 | ₹510 – ₹620 |
| 2029 | ₹540 – ₹680 |
| 2030 | ₹570 – ₹740 |
Delhivery Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹450 | ₹510 |
Delhivery reported 167% YoY profit growth and 10.7% sales growth in FY2025, marking its first full year of consistent profitability. However, its P/E of 160.8x is extremely high for a company with ROE of just 1.22% and ROCE of 2.42%. The stock appears overvalued unless earnings compound at 40%+ CAGR. A 2026 target of ₹450–₹510 assumes margin stability and no major competitive disruption.
Delhivery Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹480 | ₹560 |
The company’s expansion into financial services (Delhivery Financial Services Pvt Ltd) and AI-driven logistics (TransportOne TMS) offers incremental growth. If EPS reaches ₹3.50–₹4.00 by FY27 and P/E moderates to 140–150x, the 2027 range of ₹480–₹560 is realistic—but remains speculative.
Delhivery Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹510 | ₹620 |
By 2028, benefits from scale, automation, and asset-light models should reflect in EBITDA margins (currently ~5%). Assuming EPS of ₹4.20–₹4.80 and P/E of 130–140x, the ₹510–₹620 band is justified—if execution stays flawless.
Delhivery Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹540 | ₹680 |
Long-term tailwinds include India’s $380B logistics market opportunity and rising organized share. Risks include pricing wars, fuel volatility, and labor costs. Using a P/E of 120–130x on projected EPS (~₹4.50–₹5.20), the 2029 target is ₹540–₹680.
Delhivery Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹570 | ₹740 |
Over a five-year horizon, Delhivery’s value hinges on sustained profitability and return improvement. A terminal P/E of 110–120x on FY30 EPS (~₹5.20–₹6.20) supports the ₹570–₹740 range. Upside is capped by valuation; downside risk is high if margins compress.
Delhivery Ltd: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Foreign Institutional Investors (FII) | 48.57% |
| Domestic Institutional Investors (DII) | 34.98% |
| Public & Retail | 16.44% |
| Promoters | 0.00% |
| Others | 0.00% |
High institutional ownership (83.5%) reflects confidence in the growth story, but zero promoter stake means no long-term alignment beyond board governance.
Delhivery Ltd: Strengths vs Risks
Strengths:
- Market leader in organized Indian logistics
- Near-zero debt (D/E: 0.03) and strong cash flow from operations
- Backed by global investors with deep pockets
- First-mover advantage in tech-enabled logistics
Risks:
- Extremely high P/E (160x) with low ROCE (2.42%)—valuation mismatch
- No dividends; reinvests all profits
- Intense competition from Ecom Express, Xpressbees, and Flipkart/Amazon in-house fleets
- Asset-heavy model limits margin upside
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Very High |
| Ideal Time Horizon | 5+ years |
| Volatility | Extremely high (small-cap logistics stock) |
| Dividend/Income Potential | None (0% yield) |
| Best For | Aggressive growth investors comfortable with pre-maturity profitability and rich valuations |
- Delayed path to profitability
- Concerns over unit economics in express delivery
- Broader tech/startup de-rating in 2022–2023
Final Verdict
Delhivery is a high-potential but high-risk bet on India’s logistics modernization. While it has achieved profitability and scaled efficiently, its sky-high valuation demands perfection. Our Delhivery share price target 2026–2030 (₹450 to ₹740) reflects cautious optimism—contingent on margin sustainability and return improvement. Suitable only for aggressive growth portfolios.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Delhivery Consolidated Page (FY2025 + TTM)
- Finology Ticker – DELHIVERY Financial Ratios & Valuation
- Delhivery Investor Presentation (Q3 FY26, Jan 2026)
- BSE/NSE – IPO Prospectus and Corporate Filings
- RedSeer Consulting – Indian Logistics Market Report 2025
