Blue Dart Expres (BLUEDART)

FairStock Score: 54/100 — MIXED

Score breakdown: P/E: 0/3 · ROCE: 1/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Blue Dart is the kind of business Buffett would admire for its franchise quality, but not at any price. The numbers reveal a solid logistics operator: return on equity of 16.27%, return on capital of 16.33%, positive free cash flow of ₹435 crore, and a Piotroski F-Score of 8/9. The Altman Z-Score of 5.12 indicates financial stability. A 75% promoter holding means management has skin in the game, and the 5-year revenue CAGR of 11.71% shows that the company has compounded its top line through cycles. Yet my Graham instincts are deeply troubled. The current P/E of 46.38 and P/B of 8.14 are far beyond what a disciplined value investor should pay. Graham's defensive number works out to ₹1,257.89, giving a margin of safety of -351.75%. Even with a favourable DCF estimate of ₹9,822.61, I cannot ignore the fact that latest net profit fell 7.77% while sales rose only 7.09%. The latest quarter's net margin is roughly 4.2% — a thin cushion. The debt-to-equity ratio of 0.66 is not alarming, but with an EV/EBITDA of 66.65, the market is paying an enormous premium for each rupee of operating cash earnings. Dividend yield is a negligible 0.44%, so the investor is entirely dependent on capital appreciation. This is an excellent stalwart logistics franchise, but the price embeds perfection. In Graham's language, there is no margin of safety at ₹5,349.35. I would wait for earnings growth to resume and valuation to come closer to intrinsic worth before committing capital. Patience, not action, is appropriate today.

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Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer