Street View - India's Delhivery faces valuation speedbump

Delhivery

18/05/2026 07:38

** Shares of India's Delhivery DELH.NS fall 5.68% to 448.75 rupees

** Logistics firm's Q4 total income rose 26.3% y/y, while profit slipped marginally to 723.97 million rupees ($7.52 million)

VALUATION CONCERNS OVERSHADOW OPERATING PERFORMANCE

** Goldman Sachs ("neutral"; TP: 480 rupees) says strong profitability improvement and parcel growth are already priced in, limiting further upside

** HSBC ("hold"; TP: 500 rupees) says competitive intensity and investments in emerging businesses could weigh on near-term margins

** BofA ("buy"; TP: 570 rupees) says strong parcel volumes and improving margins reinforce long-term growth outlook, despite lower FY27-28 EPS estimates

** Citi ("buy"; TP: 565 rupees) says strong volume growth and margin expansion support medium-term earnings outlook, though higher overhead costs remain a near-term drag

** UBS ("buy"; TP: 630 rupees) says operational efficiency and market share gains continue to support earnings momentum and free cash flow improvement

($1 = 96.3000 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))