Delhivery Share Price: Shares of logistics company Delhivery on August 4, Monday, surged by 6.12% to trade at its 52-week high of Rs 455.2 apiece on the NSE. The jump in stock price comes after the company posted
better-than-expected Q1 results, followed by a bullish outlook by brokerage firms.
The logistics firm reported a 5.6 per cent increase in consolidated revenue to Rs 2,294 crore in Q1FY26. The company’s net profit surged 67.5 per cent to Rs 91 crore, compared with Rs 54.4 crore in the same quarter last year.
Delhivery Stock Price Target: What Brokerages Say
Brokerages remain upbeat on Delhivery after the logistics company delivered a strong operational and financial performance in the June 2025 quarter.
JM Financial, while calling the company’s Q1FY26 performance “decent”, noted that revenue of Rs 2,290 crore came in slightly below their expectations. However, tight cost control led to adjusted EBITDA margins of 3.3 per cent, 80 basis points higher than the previous quarter and ahead of their forecast by 31 basis points. They flagged the 13.7 per cent annual and 17.5 per cent sequential growth in express parcel volumes as a key positive, boosted by rising market share and a rebound in volumes from clients such as Meesho.
JM Financial also expects lower-than-anticipated one-time integration costs for Ecom Express, with volume retention already in the 50-60 per cent range, well above earlier guidance of 30 per cent. The brokerage retained its ‘Buy’ rating and revised its June 2026 target price upward to Rs 500, citing strong volume visibility and improving margin trajectory.
ICICI Securities also struck a bullish tone, noting that the company’s growth and profitability exceeded expectations. A rebound in e-commerce demand was visible in the 13.7 per cent Y-o-Y rise in express parcel volumes, up sharply from the muted 2-3 per cent seen during FY25.
ICICI highlighted Delhivery’s strategic exit from low-margin segments such as supply chain services and cross-border logistics as a positive move. With the Ecom Express merger progressing well and management reaffirming 20 per cent revenue growth guidance for FY26, the brokerage raised its target price to Rs 600 from Rs 430 while maintaining a ‘Buy’ call, based on a 39x forward EV/EBITDA valuation.
Analysts at Nuvama Institutional Equities said Delhivery outperformed both their and street estimates, with EBITDA and PAT rising 53 per cent and 67 per cent year-on-year, respectively. The express parcel segment saw a 10 per cent growth in revenue, driven by a 14 per cent increase in volumes, although yields dipped slightly due to a shift in customer mix. The Part Truck Load (PTL) business also saw a 17 per cent revenue jump, with service EBITDA margins expanding sharply by 720 basis points to 10.6 per cent.
Backed by stronger-than-anticipated execution and better-than-guided volume retention from the integration of Ecom Express, Nuvama revised its FY26E and FY27E EPS estimates upward by 52 per cent and 58 per cent, respectively. It upgraded its target price to Rs 525 (from Rs 430) and maintained a ‘Buy’ rating, assigning a 30x June 2027 EV/EBITDA multiple.
The IPO price of Delhivery, which was listed on the BSE and the NSE in May 2022, was fixed at Rs 487 apiece.
