Delhivery Limited , India's largest fully integrated logistics service provider, announced today significant changes in its leadership team and board composition.

CFO Resignation and Successor Appointment

Chief Financial Officer Amit Agarwal has resigned from his position, effective December 31, 2025, citing personal reasons. The company's board has approved the appointment of Vivek Pabari as the new CFO, effective January 1, 2026.

Board Member Resignation

Aruna Sundararajan, Non-Executive Independent Director, will resign from her position effective January 1, 2026. The resignation comes in light of Sundararajan's recent appointment as a Government nominee on a regulatory body.

Reasons for Sundararajan's Resignation

Sundararajan cited increased responsibilities associated with her new government role as the primary reason for stepping down from Delhivery's board. In her resignation letter, she confirmed that there are no other material reasons for her departure beyond those mentioned.

Board and Committee Positions Affected

As part of her resignation, Sundararajan will also step down from all Board committees where she served, including:

• Chairperson of the Corporate Social Responsibility (CSR) Committee
• Member of the Audit Committee

Tenure and Contribution

Aruna Sundararajan joined Delhivery's board as a Non-Executive Independent Director in July 2022. During her tenure, she played a significant role in strengthening governance and shaping strategy for the company during a period of substantial expansion.

Sahil Barua, MD & Chief Executive Officer of Delhivery, commented on Sundararajan's departure: "Delhivery has greatly benefited from Aruna's vast experience in public service. Her contributions were instrumental in strengthening governance and shaping strategy during a period of significant expansion. On behalf of the Delhivery Board of Directors and team, we express gratitude for her counsel, encouragement, and support."

Other Board Positions

Sundararajan currently holds independent director positions at other prominent companies, including:

1. L&T Technology Services Limited
2. National Bank for Financing Infrastructure and Development

Recent Board Additions

Earlier this year, Delhivery announced the appointments of several new Non-Executive Independent Directors to its board:

• Namita Thapar, Whole-time Director at Emcure Pharmaceuticals Limited
• Sameer Mehta, Co-Founder and CEO of boAt Lifestyle
• Yashish Dahiya, Chairman and CEO of PB Fintech
• Dr. Padmini Srinivasan, Faculty member at IIM Bangalore

These appointments reflect Delhivery's commitment to maintaining a diverse and experienced board as it continues to navigate its growth trajectory in the logistics sector.

As Delhivery adapts to these leadership transitions, the company remains focused on its mission to build the operating system for commerce, leveraging its nationwide network that covers over 18,850 pin codes across India.

Delhivery has announced its financial results for the second quarter, showing mixed performance with revenue growth but a wider net loss.

Financial Highlights

For Q2, Delhivery reported:

• Revenue from services of ₹2,559.00 crore, a 16.8% year-over-year increase from ₹2,190.00 crore in the same quarter of the previous year.
• Net loss of ₹504.00 million, significantly higher than the ₹102.00 million loss in the same period last year.
• EBITDA of ₹682.00 million, up from ₹573.00 million in the previous year, with the EBITDA margin slightly improving to 2.66% from 2.62%.

Business Segment Performance

Express Parcel

• Shipment volumes reached 246 million, a 32% year-over-year growth from 185 million in the previous year's quarter.
• Revenue increased by 24% year-over-year to ₹1,611.00 crore.
• Service EBITDA margin stood at 15.3%, slightly higher than the 15.1% in the same quarter last year.

Part Truck Load (PTL)

• Tonnage grew by 12% year-over-year to 477,000 MT.
• Revenue increased by 15% year-over-year to ₹546.00 crore.
• Service EBITDA margin improved to 8.5% from 2.9% in the corresponding quarter of the previous year.

Ecom Express Integration Update

Delhivery completed the acquisition of Ecom Express on July 18. The integration process is underway with the following updates:

• Volume manifestation at Ecom ceased during Q1, and exit of non-express businesses is in progress.
• Network rationalization plan is completed, with net retention of 7 facilities for long-term Delhivery usage.
• Integration cost incurred in Q2 was ₹90.00 crore, with total integration costs expected to remain within the previously guided ₹300.00 crore.

New Initiatives

Delhivery is expanding its service offerings:

• Rapid: 20 active stores in 3 cities, with plans to expand to 25 stores. The company has signed its first B2B client, with operations going live in NCR in October.
• Direct: Currently active in Ahmedabad, NCR, and Bengaluru, with plans to launch in 4 more cities.

Freight Index One Launch

In a separate announcement, Delhivery launched the Freight Index One platform, aiming to bring transparency to the Indian logistics market. This open platform provides historical, current, and forward Full Truckload (FTL) pricing estimates for major trucking lanes and vehicle types.

Rohan Anand, Head of Data Science at Delhivery, stated, "Our aim is to bring greater transparency and structured information to India's logistics market at a lane level."

Kapil Bharati, Chief Technology Officer, added, "Providing access to a wide variety of stakeholders will allow efficient price benchmarking and enable customers to better plan budgets and negotiate rates using market-wide data."

The launch of Freight Index One demonstrates Delhivery's commitment to innovation and improving efficiency in the logistics sector.

Delhivery's Q2 results show revenue growth and improved EBITDA, despite a wider net loss. The company continues to focus on strategic initiatives like the Ecom Express integration and the launch of Freight Index One, aiming to strengthen its position in the Indian logistics market.