Delhivery slides 6% as flat Q4 profit overshadows 30% revenue jump

Delhivery's Q4 FY26 net profit stuck at ₹72.4 Cr despite revenue rising 30% YoY to ₹2,850 Cr and EBITDA nearly doubling to ₹231 Cr. Shipments grew 40% to 1,054 Mn. UBS, Citi, Nuvama stayed Buy; Goldman Neutral. Ecom Express integration in focus as stock hit ₹447.85, market cap ₹33,901.9 Cr.

— Source publishedMon, 18 May, 2026, 11:42 IST·First seen Mon, 18 May, 2026, 11:44 IST·Source Inc42

What happened

Delhivery shares fell up to 6% after flat Q4 FY26 net profit of ₹72.4 Cr despite 30% revenue growth to ₹2,850 Cr. EBITDA doubled YoY. Brokerages UBS, Citi,

Key facts

  • Stock -6% to ₹447.85
  • Market cap ₹33,901.9 Cr
  • Q4 net profit ₹72.4 Cr (flat YoY)
  • Q4 revenue ₹2,850 Cr (+30% YoY)
  • EBITDA ₹231 Cr (+94%)
  • FY26 profit ₹321 Cr (+8%)
  • FY26 revenue ₹10,486 Cr (+17%)
  • 1,054 Mn shipments (+40%)

Why this matters

Delhivery's depressed ₹33,902 Cr market cap amid a messy Ecom Express integration phase opens a window for adjacent logistics or D2C fulfillment tuck-ins before margin recovery resets the multiple.

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