Delhivery

June 24 (Reuters) - Delhivery Ltd DELH.NS:

• ALPHA WAVE VENTURES SELLS 7.2 MILLION SHARES OF DELHIVERY AT 460.36 RUPEESPER SHARE VIA BULK DEAL - NSE DATA

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June 23 (Reuters) - Bajaj Auto Ltd BAJA.NS:

• DELHIVERY - CO, BAJAJ AUTO PARTNER TO ELECTRIFY FLEET

Source text: [ID:]

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** Shares of India's Delhivery DELH.NS fall 5.68% to 448.75 rupees

** Logistics firm's Q4 total income rose 26.3% y/y, while profit slipped marginally to 723.97 million rupees ($7.52 million)

VALUATION CONCERNS OVERSHADOW OPERATING PERFORMANCE

** Goldman Sachs ("neutral"; TP: 480 rupees) says strong profitability improvement and parcel growth are already priced in, limiting further upside

** HSBC ("hold"; TP: 500 rupees) says competitive intensity and investments in emerging businesses could weigh on near-term margins

** BofA ("buy"; TP: 570 rupees) says strong parcel volumes and improving margins reinforce long-term growth outlook, despite lower FY27-28 EPS estimates

** Citi ("buy"; TP: 565 rupees) says strong volume growth and margin expansion support medium-term earnings outlook, though higher overhead costs remain a near-term drag

** UBS ("buy"; TP: 630 rupees) says operational efficiency and market share gains continue to support earnings momentum and free cash flow improvement

($1 = 96.3000 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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Feb 19 (Reuters) - Delhivery Ltd DELH.NS:

• DELHIVERY - BUILDS AI-POWERED LOCATION INTELLIGENCE WITH NVIDIA

Source text: ID:nBSE6Jzh4Q

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Feb 16 (Reuters) - Delhivery Ltd DELH.NS:

• STRATEGIC PARTNERSHIP WITH RIDEV TO DEPLOY 150 ELECTRIC VEHICLES

Source text: ID:nNSE83HPYd

Further company coverage: DELH.NS

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Jan 27 (Reuters) - India's Mahindra Logistics MALO.NS swung to a quarterly profit for the first time since 2022, it reported on Tuesday, as demand for shipping increased during the festive season and its supply chain management segment turned a profit.

The Mumbai-based company's consolidated net profit came at 32.5 million rupees ($354,551.90) during the quarter ended December 31, from a loss of 90.3 million rupees ($985,108.82) a year ago.

This is the company's first quarterly profit since the third quarter of fiscal year 2023. Its supply chain management is its biggest segment, contributing 94.4% to the topline.

Revenue rose more than 19% to 18.98 billion rupees.

For further earnings highlights, [click here].

KEY CONTEXT

The Mahindra Group unit has been facing rising costs and tougher competition from domestic as well as international firms in India’s $342 billion logistics market, along with losses linked to its 2022 acquisition of express‑cargo firm Rivigo.

However, in a pre-earnings note, Elara Capital analysts said the firm would receive support in the third quarter from the addition of new warehouses and its core third‑party logistics business.

They also expected B2B express volumes to improve and losses to narrow, helped by possible price hikes and better operating efficiency.

Although December does not fall within India’s main festive season, which started in mid‑September, year‑end holidays and discount events still provide logistics firms with a modest boost in demand.

Mahindra Logistics, Delhivery and Blue Dart are also facing growing pressure from Amazon AMZN.O and Walmart WMT.O ‑owned Flipkart, which are steadily expanding their in‑house logistics operations.

PEER COMPARISON

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

OCTOBER-DECEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 91.6650 Indian rupees

(Reporting by Yagnoseni Das and Abhirami G in Bengaluru; Editing by Harikrishnan Nair)

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Jan 20 (Reuters) - Delhivery Ltd DELH.NS:

• TRANSPORTONE BY DELHIVERY LAUNCHES AUTONOMOUS TMS TO AUTOMATE LOGISTICS VIA AI AGENTS

Source text: ID:nnAZN4S1IZN

Further company coverage: DELH.NS

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Jan 15 (Reuters) - Delhivery Ltd DELH.NS:

• DELHIVERY - UNIT TO APPEAL 163.9 MILLION RUPEES TAX DEMAND

Source text: ID:nBSE4D0Bhw

Further company coverage: DELH.NS

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Jan 6 (Reuters) - Delhivery Ltd DELH.NS:

• RECEIVES FAVORABLE ORDER FROM TAX AUTHORITY DELETING PENALTY OF 13.7 MILLION RUPEES

Source text: ID:nBSE17hkDM

Further company coverage: DELH.NS

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** Logistics services provider Delhivery DELH.NS falls as much as 1.1% to 412.90 rupees

** Jefferies cites risks from e-commerce platform Meesho's increasing reliance on its in-house low logistics arm Valmo

** Valmo handles ~50% of Meesho's shipments at lower cost vs third party logistics providers such as Delhivery

** Meesho accounted for ~16% of Delhivery's FY25 revenue, per Jefferies' estimates; says shift to insourcing would weigh on Delhivery's mainstay express parcels growth

** Maintains "underperform", with PT of 390 rupees

** Meesho seeking valuation up to $5.6 billion for its IPO, which opens for retail subscription on December 3

(Reporting by Kashish Tandon in Bengaluru)

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Nov 5 (Reuters) - Delhivery Ltd DELH.NS:

• Q2 CONSOL NET LOSS 503.8 MILLION RUPEES

• Q2 CONSOL TOTAL INCOME 26.52 BILLION RUPEES

Source text: ID:nBSE8jsHYZ

Further company coverage: DELH.NS

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Oct 17 (Reuters) - Delhivery Ltd DELH.NS:

• SMALLCAP WORLD FUND SELLS 3.9 MILLION SHARES OF DELHIVERY IN BULK DEALS -NSE DATA

Source text: [ID:]

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** India's Delhivery DELH.NS climbs 3.5% to 445 rupees

** Courier services provider reports higher June-quarter profit and revenue

** DELH's Q1 results were above market consensus, led by higher profitability in its supply chain and truck load segments, says Macquarie

** Bernstein says DELH's Q1 results "ticked the right boxes", adding that the company reported margin expansion in a typically weak quarter

** Brokerage raises PT on stock to 510 rupees from 430 rupees

** Avg rating of 22 analysts on DELH at "buy"; median PT is 421.50 rupees - data compiled by LSEG

** Stock extends YTD gains to 29%

(Reporting by Kashish Tandon in Bengaluru)

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June 20 (Reuters) - Delhivery Ltd DELH.NS:

• LAUNCHES ON-DEMAND INTRACITY SHIPPING WITH DELHIVERY DIRECT

Source text: ID:nnAZN406QY8

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** Shares of logistics services provider Delhivery DELH.NS rise 2.2% to 366.75 rupees

** Competition Commission of India approves acquisition of at least 99.4% stake of Ecom Express ECOE.NS by DELH for up to 14.07 bln rupees ($162.96 mln)

** DELH up ~6% YTD

($1 = 86.3425 Indian rupees)

(Reporting by Vijay Malkar)

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June 17 (Reuters) - Delhivery Ltd DELH.NS:

• INDIA ANTITRUST AGENCY: APPROVES ACQUISITION OF AT LEAST 99.44% STAKE IN ECOM EXPRESS BY DELHIVERY

Source text: [ID:]

Further company coverage: DELH.NS

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** Delhivery DELH.NS climbs ~10% to 352.9 rupees; set for biggest intraday pct jump in nearly two years

** Logistics services firm reports 725.6 mln rupees ($8.5 mln) in Q4 consol profit vs year-ago loss of 684.7 mln rupees

** Revenue from contracts up 5.6% y/y

** Stock rated "buy" on avg, same as peers Blue Dart Express BLDT.NS and VRL Logistics VRLL.NS; Mahindra Logistics MALO.NS rated "hold", per data compiled by LSEG

** YTD, DELH rises ~2%

($1 = 85.5390 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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May 16 (Reuters) - Delhivery Ltd DELH.NS:

• DELHIVERY Q4 CONSOL PROFIT 725.6 MILLION RUPEES

• DELHIVERY Q4 CONSOL TOTAL INCOME 23.03 BILLION RUPEES

Source text: [ID:]

Further company coverage: DELH.NS

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April 22 (Reuters) - Delhivery Ltd DELH.NS:

• MARS PETCARE PARTNERS WITH DELHIVERY TO DEPLOY AI-POWERED TRANSPORTONE

Source text: ID:nBSEbRqMv7

Further company coverage: DELH.NS

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April 7 (Reuters) - ** Shares of courier and logistics services provider Delhivery DELH.NS rise 0.5% to 260.52 rupees

** Delhivery to buy IPO-bound rival Ecom Express for 14 billion rupees ($163.3 million)

** Emkay Global does not expect the deal to be add to profit in near term but believes gains will accrue over 12-18 months

** Avg rating of 20 analysts on DELH is "buy"; median PT is 393.50 rupees, per data compiled by LSEG

** Stock down 24.6% YTD up to last close

($1 = 85.7570 Indian rupees)

(Reporting by Shivani Tanna in Bengaluru)

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Feb 7 (Reuters) - Delhivery Ltd DELH.NS:

• Q3 CONSOL PROFIT 249.9 MILLION RUPEES; IBES PROFIT EST. 542.8 MILLION RUPEES

• Q3 CONSOL TOTAL INCOME 24.77 BILLION RUPEES

Source text: [ID:]

Further company coverage: DELH.NS

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Jan 27 (Reuters) - Delhivery Ltd DELH.NS:

• DELHIVERY - HPCL PARTNERS WITH DELHIVERY FOR PAN-INDIA LUBRICANT DISTRIBUTION

Source text: ID:nnAPN2L1SVU

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Jan 16 (Reuters) - Delhivery Ltd DELH.NS:

• DELHIVERY - LAUNCHES RAPID COMMERCE, A 2-HOUR DELIVERY SERVICE, FOR BRANDS

Source text: ID:nBSE4pLNWX

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** Shares of courier and logistics services provider Delhivery DELH.NS fall 2% to 411 rupees

** Kotak Institutional Equities cuts PT to 500 rupees from 560 rupees; maintains "buy" rating on stock

** Sees difficult zone for DELH, due to uncertain demand, pricing pressure from third-party peers

** Says DELH's express parcel may lack strength in FY25

** Avg rating of 21 analysts on DELH is "buy"; median PT is 500 rupees -LSEG data

** Stock has gained 5% so far this year

(Reporting by Ashna Teresa Britto in Bengaluru)

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Sept 24 (Reuters) - Sam Industries Ltd SAMI.BO:

• ENTERED INTO LEASE AGREEMENT WITH DELHIVERY LTD

• AGREEMENT TO PROVIDE WAREHOUSE IN INDORE ON LEASE TO DELHIVERY

Source text for Eikon: ID:nBSE9g9Zcl

Further company coverage: DELH.NS

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Sept 17 (Reuters) - Delhivery Ltd DELH.NS:

• CLARIFIES ON REPORT CO ANNOUNCES PARTNERSHIP WITH TEAM GLOBAL LOGISTICS

• CONFIRMS PARTNERSHIP WITH TEAM GLOBAL LOGISTICS FOR EXPANDING CROSS‐BORDER SERVICES

Source text for Eikon: [ID:]

Further company coverage: DELH.NS

(Reporting by VijayDattaram Malkar)

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Sept 16 (Reuters) - Delhivery Ltd DELH.NS:

• CONFIRMS STRATEGIC PARTNERSHIP WITH TEAM GLOBAL LOGISTICS

Source text for Eikon: ID:nBSE7kf3M6

Further company coverage: DELH.NS

(Reporting by VijayDattaram Malkar)

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Aug 29 (Reuters) - Delhivery Ltd DELH.NS:

• DELHIVERY - RESPONDS TO VOTING RECOMMENDATION REPORT BY PROXY ADVISORS ON RESOLUTIONS OF AGM

• DELHIVERY - URGES PROXY ADVISORS TO AMEND PROPOSED RECOMMENDATION ON RESOLUTIONS OF AGM

Source text for Eikon: ID:nBSE9zx4mv

Further company coverage: DELH.NS

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BENGALURU, Aug 15 (Reuters) - Logistics firm Ecom Express on Thursday filed for an initial public offering (IPO) worth up to 26 billion rupees ($310 million), its draft papers showed.

The IPO will consist of a fresh issue of shares worth up to 12.85 billion rupees while existing investors will offload shares aggregating to 13.16 billion rupees.

The e-commerce logistics firm, which counts Amazon and beauty products retailer Nykaa among its clients, looks to go public at a time when India's IPO space has seen more than 150 companies raise around $5 billion this year as of July-end.

The company, which competes with the likes of Delhivery DELH.NS and Blue Dart BLDT.NS, said it intends to use funds from the fresh issue towards setting up of new processing and fulfilment centres, investment in IT equipment and payment of debt.

Among those selling their existing stakes, Partners Group's PGHN.S PG Esmeralda and Warburg Pincus's Eaglebay Investment would sell holdings worth 9.31 billion rupees and 2.11 billion rupees, respectively.

Ecom Express reported a net loss of 2.54 billion rupees for the year ended March 31, 2024, compared with a loss of 4.22 billion rupees, a year earlier.

($1 = 83.9390 Indian rupees)

(Reporting by Nishit Navin; Editing by Vijay Kishore)

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Aug 2 (Reuters) - Delhivery Ltd DELH.NS:

• Q1 CONSOL PROFIT 543.6 MILLION RUPEES

• Q1 CONSOL TOTAL INCOME 22.8 BILLION RUPEES

Further company coverage: DELH.NS

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