Delhivery Limited Announces Stock Option Grant

Delhivery Limited , a prominent logistics and supply chain services company, has recently made a significant announcement regarding its employee stock option plan. The company has granted stock options to eligible employees, demonstrating its commitment to aligning employee interests with those of the shareholders.

Key Details of the Stock Option Grant

• Date of Grant: March 22, 2024
• Number of Options Granted: 1,384,979
• Exercise Price: ₹1.00 per equity share

Vesting Schedule

The granted stock options will vest over a period of four years, following this schedule:

Impact and Implications

This stock option grant is a strategic move by Delhivery Limited to:

1. Retain Talent: By offering equity ownership, the company aims to retain its valuable employees.
2. Align Interests: The grant helps align employee interests with the long-term success of the company.
3. Motivate Performance: Stock options can serve as a powerful motivator for employees to contribute to the company's growth.

Conclusion

Delhivery Limited's decision to grant stock options reflects its focus on employee engagement and long-term value creation. As the company continues to grow in the competitive logistics sector, such initiatives may play a crucial role in attracting and retaining top talent.

Investors and stakeholders will likely view this move positively, as it demonstrates the company's commitment to its human capital and long-term success.

Delhivery Limited , a leading logistics and supply chain services provider, has reported strong financial results for the quarter ended September 30, 2025, showcasing significant growth across key metrics and successful integration of its recent acquisition.

Financial Highlights

• Revenue from services reached Rs. 2,546.00 crores, marking a 16% year-over-year (YoY) growth and 11% quarter-over-quarter (QoQ) growth.
• EBITDA stood at Rs. 150.00 crores with a 5.9% margin, a substantial increase from Rs. 57.00 crores in the same quarter last year.
• Express parcel shipments grew by 32.5% YoY to 246 million shipments.
• Part Truckload (PTL) freight maintained steady growth at 477K tons.
• Adjusted EBITDA improved to Rs. 83.00 crores (3.3% margin) compared to Rs. 10.00 crores (0.5% margin) in Q2 FY25.
• Profit After Tax (PAT) reached Rs. 59.00 crores, a significant jump from Rs. 10.00 crores in the same quarter last year.

Operational Performance

Delhivery demonstrated strong operational performance during the quarter:

• Achieved a record peak dispatch of 7.2 million orders in a single day during the festive season.
• Crossed 100 million transportation orders in September.
• Express parcel margins stood at 15.3%, while PTL margins were at 8.5%.
• Supply chain services margins improved significantly to 12.8% from 7.2% in the previous quarter.

EcomExpress Acquisition and Integration

The company completed the acquisition of EcomExpress in July 2025 for Rs. 1,369.00 crores:

• Integration costs for the quarter were Rs. 90.00 crores, well within the original Rs. 300.00 crore estimate.
• The company expects total integration costs to be materially lower than the initially forecasted Rs. 300.00 crores.
• Network rationalization plan has been completed, with seven facilities retained, totaling 1.3 million square feet of area.

Market Position and Future Outlook

Sahil Barua, MD & CEO of Delhivery, commented on the company's market position:

"Post the EcomExpress acquisition, we're probably closer to somewhere between 27% and 30% market share. Excluding Amazon self-logistics and Flipkart self-logistics, our market share will be well over half of the market."

The company maintains a positive outlook:

• Service EBITDA margins are expected to be in the 16-18% range by the end of 2026.
• The PTL business is anticipated to reach 16-18% service EBITDA margins in the next 24 months.
• Delhivery is exploring new business opportunities, including rapid commerce and on-demand intracity services.

Financial Services Subsidiary

Delhivery has incorporated a new subsidiary, Delhivery Financial Services Private Limited, aimed at providing financial services to its network of truckers and partners. The company plans to offer services such as:

• Fastag and fuel services for truckers
• Commercial vehicle lending for partners to expand their fleets
• Assurance or protection against loss, damage, and delays within the Delhivery network

Conclusion

Delhivery's Q2 FY26 results demonstrate the company's strong growth trajectory and successful integration of EcomExpress. With improved margins across segments and strategic expansion into new services, Delhivery appears well-positioned to capitalize on the growing logistics market in India.

Investors should note that while the company has shown impressive growth, future performance may be influenced by factors such as market dynamics, competition, and overall economic conditions.