Delhivery (DELHIVERY)

FairStock Score: 43/100 — MIXED

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

Key Financials

AI Analysis

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

I wear Buffett/Graham lenses here: a logistics solution provider with ₹34,439 Cr market cap at ₹459.70. The business is growing: sales up 25.90%, 5-year revenue CAGR 26.28%, and latest quarter sales ₹2,805 Cr. It also generated ₹465 Cr free cash flow, carries low debt/equity of 0.15, and scores 8/9 on Piotroski and 3.34 on Altman Z—so balance-sheet risk looks manageable. But quality? ROE is only 1.62% and ROCE 2.47%. Latest quarterly net profit was just ₹40 Cr, and profit growth fell 31.38%. That tells me scale is not yet translating into owner earnings. The moat is unclear: logistics is competitive, and no promoter holding (0.00%) plus zero dividend yield gives me no owner-operator comfort or cash return. Valuation is the real problem. At P/E 370.73 and P/B 3.54, the market is paying a huge price for thin earnings. Book value is ₹129.79, but Graham Number is only ₹79.51, leaving ‘margin of safety’ at -445.06%. DCF intrinsic value of ₹332.74 is also below the market price. EV/EBITDA of 118.30 is stratospheric. FairStock's 43/100 mixed score matches my view: high growth, but not high-quality value. As a value investor, I would watch rather than buy. If profits and ROCE improve while price remains near the 52-week low of ₹374.45, the risk-reward could change. For now, the stock is a fast grower priced for perfection, not a Graham bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

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