Blue Dart Express has reported its financial results for the quarter and financial year ended March 31, 2026. The company delivered a year-on-year revenue growth of 7.4%, with revenue from operations reaching INR 6,141 crores compared to INR 5,720 crores in the previous financial year. Profit after tax (PAT) for the year stood at INR 240 crores. For the quarter ended March 31, 2026, revenue from operations was INR 1,533 crores, while PAT was INR 43 crores.

Financial Performance

The company's growth was supported by sustained momentum across e-commerce and B2B Surface Express solutions. Blue Dart Express continued to strengthen its integrated air and ground network and enhance operational efficiency. The fiscal year was marked by a dynamic cost and regulatory environment, including the implementation of the wage code. The company focused on compliance, employee welfare, and network efficiency while protecting service quality.

Operational Metrics

Blue Dart Express handled a total tonnage of 1,439,000 tons for the full year, representing a growth of 7.1%. For the fourth quarter, tonnage was 359,913 tons, growing by 4.6%. The total parcels handled for the year were 403.98 million, with 96.17 million parcels in the fourth quarter. The revenue mix between air and ground was 60:40, while the B2B and B2C split was 70:30 for the financial year.

Earnings Call Transcript

The transcript of the earnings call held on May 13, 2026, has been made available on the company's website. The call, facilitated by Motilal Oswal Financial Services Limited, was attended by analysts and institutional investors. Management clarified that no price-sensitive information or forward-looking statements were disclosed during the interaction, as discussions were based on information available in the public domain. The post-call disclosure was signed by Tushar Gunderia, Head (Legal & Compliance) & Company Secretary.

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/- 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. On May 14, 2026, Blue Dart Express further filed an investor presentation on its company website under Regulation 30, providing a comprehensive performance update for shareholders and the public.

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:

Quarterly Standalone Performance

The investor presentation also provided a detailed quarter-wise standalone performance breakdown. The table below presents the quarterly standalone financial highlights:

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:

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:

Investor Presentation: Operational Highlights

The investor presentation filed on May 14, 2026 highlighted key operational metrics for FY2025-26. Blue Dart reported sales of ₹61,409 mn, EBITDA (before exceptional items) of ₹6,492 mn with an EBITDA margin of 10.44%, and EBT (before exceptional items) of ₹3,599 mn. The company handled 404 million shipments and 1,439 thousand tonnes during the year. The presentation also noted that the EBITDA margin stood at 9.7% for FY2024-25, reflecting an improvement in the latest year. The following table summarises the key standalone quarter-wise performance as presented in the investor presentation (₹ Mn):

Shareholding Pattern and Dividend Track Record

As per the shareholding pattern disclosed in the investor presentation as of March 31, 2026, DHL holds 75.0% of the company, while mutual funds account for 7.62% and foreign investors hold 2.10%. The presentation also outlined the company's consistent dividend history, with a dividend of Rs. 25/- per share recommended for FY2025-26, Rs. 25/- per share paid for FY2024-25, Rs. 25/- per share paid for FY2023-24, Rs. 30/- per share paid for FY2022-23, and a total dividend (interim and final) of Rs. 60/- per share paid for FY2021-22.

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."