Blue Dart Express FY2025-26 Results: Revenue Rises to ₹6,14,088 Lakhs; Board Recommends ₹25 Dividend
Blue Dart Express announced audited FY2025-26 results with standalone revenue of ₹6,14,088 lakhs and net profit of ₹23,969 lakhs, alongside a recommended ₹25/share dividend. Consolidated net profit stood at ₹24,739 lakhs. Exceptional items of Rs. 4,436 lakhs (standalone) were recognised due to new Labour Codes. The results were filed under Regulation 33 and published in leading newspapers on May 11, 2026.

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Blue Dart Express Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, following a Board of Directors meeting held in Mumbai on May 9, 2026. The results were reviewed by the Audit Committee and subsequently approved by the Board, with statutory auditors Deloitte Haskins & Sells LLP issuing an unmodified audit opinion on both standalone and consolidated financial statements. The Board also recommended a dividend of ₹25/- (Rupees Twenty-Five only) per equity share for the financial year ended March 31, 2026, subject to approval by members at the ensuing Annual General Meeting. The audited results were subsequently published in The Economic Times (Mumbai Edition) and Maharashtra Times (Mumbai Edition) on May 11, 2026, and filed with stock exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. For the full year, the company reported standalone revenue from operations of ₹6,14,088 lakhs compared to ₹5,72,018 lakhs in the previous year, while net profit stood at ₹23,969 lakhs. For the quarter ended March 31, 2026, standalone revenue from operations stood at ₹1,53,347 lakhs, while net profit stood at ₹4,322 lakhs compared to ₹5,322 lakhs in the corresponding quarter of the previous year.
Standalone Financial Performance
On a standalone basis, Blue Dart Express reported revenue from operations of ₹6,14,088 lakhs for the year ended March 31, 2026, compared to ₹5,72,018 lakhs in the previous year. Total income for the full year stood at ₹6,21,795 lakhs against ₹5,79,847 lakhs in the prior year. For the quarter ended March 31, 2026, standalone revenue from operations was ₹1,53,347 lakhs compared to ₹1,41,732 lakhs in the corresponding quarter of the previous year. Net profit for the quarter stood at ₹4,322 lakhs against ₹5,322 lakhs in the prior year's corresponding quarter. Basic and diluted earnings per share for the quarter were ₹18.22 (not annualised). The following table summarises the key standalone financial metrics:
| Metric: | FY2025-26 (Audited) | FY2024-25 (Audited) |
|---|---|---|
| Revenue from Operations (₹ in lakhs): | 6,14,088 | 5,72,018 |
| Other Income (₹ in lakhs): | 7,707 | 7,829 |
| Total Income (₹ in lakhs): | 6,21,795 | 5,79,847 |
| Freight, Handling & Servicing Costs (₹ in lakhs): | 4,28,837 | 4,04,051 |
| Employee Benefits Expenses (₹ in lakhs): | 80,540 | 73,741 |
| Finance Costs (₹ in lakhs): | 4,203 | 2,879 |
| Depreciation & Amortisation (₹ in lakhs): | 24,724 | 20,921 |
| Other Expenses (₹ in lakhs): | 47,500 | 44,668 |
| Total Expenses (₹ in lakhs): | 5,85,804 | 5,46,260 |
| Profit Before Exceptional Items & Tax (₹ in lakhs): | 35,991 | 33,587 |
| Exceptional Items (₹ in lakhs): | 4,436 | - |
| Profit Before Tax (₹ in lakhs): | 31,555 | 33,587 |
| Net Profit (₹ in lakhs): | 23,969 | 24,463 |
| Basic EPS (₹, not annualised): | 101.02 | 103.10 |
| Diluted EPS (₹, not annualised): | 101.02 | 103.10 |
Quarterly Standalone Performance
The table below presents the quarterly standalone financial highlights for comparison:
| Metric: | Q4 FY2025-26 (Unaudited) | Q3 FY2025-26 (Unaudited) | Q4 FY2024-25 (Unaudited) |
|---|---|---|---|
| Revenue from Operations (₹ in lakhs): | 1,53,347 | 1,61,616 | 1,41,732 |
| Total Income (₹ in lakhs): | 1,55,165 | 1,63,503 | 1,43,788 |
| Profit Before Exceptional Items & Tax (₹ in lakhs): | 6,487 | 12,527 | 7,824 |
| Exceptional Items (₹ in lakhs): | 13 | 4,423 | - |
| Profit Before Tax (₹ in lakhs): | 6,474 | 8,104 | 7,824 |
| Net Profit (₹ in lakhs): | 4,322 | 7,004 | 5,322 |
| Basic EPS (₹, not annualised): | 18.22 | 29.52 | 22.43 |
| Diluted EPS (₹, not annualised): | 18.22 | 29.52 | 22.43 |
Consolidated Financial Performance
On a consolidated basis, encompassing Blue Dart Express Limited and its wholly owned subsidiaries Blue Dart Aviation Limited and Concorde Air Logistics Limited, the Group reported revenue from operations of ₹6,14,088 lakhs for the year ended March 31, 2026, with total income of ₹6,18,280 lakhs compared to ₹5,76,216 lakhs in the prior year. The table below presents the key consolidated financial highlights:
| Metric: | FY2025-26 (Audited) | FY2024-25 (Audited) |
|---|---|---|
| Revenue from Operations (₹ in lakhs): | 6,14,088 | 5,72,018 |
| Other Income (₹ in lakhs): | 4,192 | 4,198 |
| Total Income (₹ in lakhs): | 6,18,280 | 5,76,216 |
| Freight, Handling & Servicing Costs (₹ in lakhs): | 3,56,833 | 3,35,256 |
| Employee Benefits Expenses (₹ in lakhs): | 1,04,259 | 96,805 |
| Finance Costs (₹ in lakhs): | 8,564 | 8,239 |
| Depreciation & Amortisation (₹ in lakhs): | 53,607 | 48,494 |
| Other Expenses (₹ in lakhs): | 57,939 | 52,698 |
| Total Expenses (₹ in lakhs): | 5,81,202 | 5,41,492 |
| Profit Before Exceptional Items & Tax (₹ in lakhs): | 37,078 | 34,724 |
| Exceptional Items (₹ in lakhs): | 4,403 | - |
| Profit Before Tax (₹ in lakhs): | 32,675 | 34,724 |
| Net Profit (₹ in lakhs): | 24,739 | 25,242 |
| Basic EPS (₹, not annualised): | 104.26 | 106.38 |
| Diluted EPS (₹, not annualised): | 104.26 | 106.38 |
Exceptional Items: New Labour Codes
On November 21, 2025, the Government of India notified four Labour Codes—the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020—consolidating 29 existing labour laws. On a standalone basis, the company evaluated an incremental impact of increased employee benefits expenses of Rs. 2,186 lakhs and increased freight, handling and servicing costs of Rs. 2,250 lakhs, recognising a total amount of Rs. 4,436 lakhs as exceptional items for the year ended March 31, 2026. On a consolidated basis, the Group estimated the incremental impact on retiral benefits at Rs. 4,403 lakhs for the same period, also presented as exceptional items.
Balance Sheet and Cash Flow Highlights
On a standalone basis, the company's net worth as at March 31, 2026 stood at ₹1,83,113 lakhs compared to ₹1,62,330 lakhs in the prior year, while total standalone assets were ₹3,51,687 lakhs against ₹3,03,111 lakhs. On a consolidated basis, total assets stood at ₹4,12,685 lakhs compared to ₹3,66,276 lakhs in the prior year. The table below summarises key standalone and consolidated balance sheet and cash flow metrics:
| Parameter: | FY2025-26 | FY2024-25 |
|---|---|---|
| Standalone Net Worth (₹ in lakhs): | 1,83,113 | 1,62,330 |
| Standalone Total Assets (₹ in lakhs): | 3,51,687 | 3,03,111 |
| Standalone Cash & Cash Equivalents - End of Year (₹ in lakhs): | 23,491 | 16,390 |
| Standalone Net Cash from Operating Activities (₹ in lakhs): | 34,681 | 48,888 |
| Consolidated Net Worth (₹ in lakhs): | 1,77,683 | 1,55,904 |
| Consolidated Total Assets (₹ in lakhs): | 4,12,685 | 3,66,276 |
| Consolidated Cash & Cash Equivalents - End of Year (₹ in lakhs): | 23,800 | 16,632 |
| Consolidated Net Cash from Operating Activities (₹ in lakhs): | 81,025 | 73,512 |
Management Commentary
Commenting on the results, Balfour Manuel, Managing Director, Blue Dart Express Limited, stated: "FY2025–26 was a year of focused execution and resilient performance for Blue Dart, as we continued to deliver steady revenue growth despite a backdrop of global uncertainty, heightened geopolitical tensions, and evolving market dynamics. In such an environment, our ability to stay agile and customer-centric has been critical. We continued to build on our core strengths of reliability, reach, speed, and service excellence, while adapting our offerings to meet the changing needs of customers across e-commerce, retail, SME, and enterprise segments. Our performance was driven by sustained customer confidence, disciplined network execution, and a sharp focus on operational efficiency. As customer expectations continue to evolve, we remain committed to continuously enhancing and expanding our solutions to make them more relevant, accessible, and value driven. We will continue to invest in our network, digital capabilities, and service portfolio to support growth and strengthen our competitive edge."
Historical Stock Returns for Blue Dart Express
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -7.45% | -3.79% | +4.42% | -15.48% | -21.54% | -1.41% |
How will the full implementation of the four new Labour Codes impact Blue Dart's cost structure and operating margins in FY2026-27 beyond the one-time exceptional items already recognized?
Given the decline in Q4 net profit despite revenue growth, what specific operational efficiency measures is Blue Dart planning to offset rising freight, employee, and depreciation costs in the coming quarters?
With e-commerce and SME segments cited as key growth drivers, how might intensifying competition from quick-commerce platforms and rival logistics players affect Blue Dart's market share and pricing power going forward?


































