DELHIVERY

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

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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

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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

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(Reporting by VijayDattaram Malkar)

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

• DELHIVERY - TEAM GLOBAL LOGISTICS AND CO ENTER STRATEGIC PARTNERSHIP

• DELHIVERY - PARTNERSHIP FOR OCEAN FREIGHT, FOCUS ON INBOUND AND OUTBOUND LOGISTICS

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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

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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

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** Shares of Ascensive Educare ASCE.BO jumps 20% to hit upper circuit at 97.2 rupees

** Skill development firm signs deals with Blue Dart Express BLDT.NS and Delhivery DELH.NS for recruitment and payroll management, with expected turnover of ~220 million rupees ($2.64 million)

** Stock has risen 44% in last two sessions

** Stock sees second-busiest day in nearly two weeks, with over 54,000 shares traded

** Stock up 106.7% YTD, after gaining 91% in 2023

($1 = 83.4860 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

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May 23 (Reuters) - Delhivery Ltd DELH.NS:

• ANNOUNCES TIE-UP WITH SUGAR COSMETICS

• ANNOUNCES TIE-UP WITH SUGAR COSMETICS FOR PAN-INDIA B2B SHIPMENTS

Source text for Eikon: ID:nBSE3XPkPg

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

• DELHIVERY MARCH-QUARTER CONSOL LOSS 684.7 MILLION RUPEES; LSEG IBES LOSS EST. 258.6 MILLION RUPEES

• DELHIVERY MARCH-QUARTER CONSOL TOTAL INCOME 21.95 BILLION RUPEES

Source text for Eikon: ID:nBSE4tCTKJ

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** Shares of logistics firm Delhivery DELH.NS rise as much a 6.2% to 478 rupees, highest since March 1

** Over 1 mln shares change hands in a block deal at 466.35 rupees per share, a 3.6% premium to Wednesday's close of 450.2 rupees per share- LSEG

** More than 4.2 mln shares change hands, 1.5x its 30-day avg

** Twenty-one analysts covering the stock on avg have a "buy" rating; median PT is 550 rupees - LSEG data

** DELH trading above its 200-day simple moving avg since late-Jan.

** Stock gained ~15% in March quarter

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Kotak upgrades logistics firm Delhivery DELH.NS to "buy," from "add;" raises PT to 570 rupees

** Stock up 1.3%, with vols around ~0.4x the 30-day avg

** While other players bleed as they grow volumes, DELH has improved earnings, will outperform industry over next 5 years and at pace of 1.2x for next 2 years - Kotak

** Brokerage believes DELH will hugely benefit as more ecommerce players join Amazon in outsourcing express delivery

** Adds peers have limited defence against co's "unrelenting" pricing pressure

** Sees revenue growing 20% CAGR from FY24-32 and higher market share

** Avg rating of 21 analysts is equivalent to 'buy' with 11 of them rating it a 'strong buy' - LSEG

** Median PT is 550 rupees - LSEG data

** Over last 12 months, stock up 38.2%; YTD, it is up 19.5%

(Reporting by Nandan Mandayam in Bengaluru)

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BENGALURU, Feb 27 (Reuters) - Indian logistics firm Shadowfax on Tuesday said it raised $100 million in a funding round led by U.S. private equity firm TPG TPG.O to extend last-mile delivery services.

The company declined to disclose the valuation at which it raised the funds. It was last valued at $632 million, as of April 2022, per data from investment tracker Tracxn.

Besides TPG, existing investors, including Walmart WMT.N-owned e-commerce platform Flipkart, fund house Mirae Asset, and International Finance Corp, also participated in the funding round, according to a statement.

Early investor Eight Roads Ventures sold some of its stake in Shadowfax, the statement said, without specifying details.

"This round encompasses a blend of primary, secondary and venture debt financing," Shadowfax said.

Logistics firms such as Shadowfax, Delhivery DELH.NS and DHL-owned Blue Dart Express BLDT.NS have hugely benefited as Indians increasingly shop online for everything from electronics to fashion.

Annual e-commerce shipment volumes in India are expected to grow at least five-fold to 20 billion by 2030 from 3.9 billion in 2022, according to a report by consultancy firm Redseer.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Sonia Cheema)

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Feb 2 (Reuters) - Indian logistics firm Delhivery DELH.NS posted its first-ever quarterly profit since listing on Friday, helped by healthy demand for online shopping during the festive season.

Consolidated profit for the three months ended Dec. 31 was 117.1 million rupees ($1.41 million) compared with a loss of 1.96 billion rupees a year earlier, the company said in an exchange filing.

"We are satisfied that network quality remained robust even through the peak season," said Sahil Barua, MD & CEO of the Gurugram-based company.

Analysts had said the company, which delivers orders for Amazon AMZN.O and Walmart WMT.N-owned Flipkart, would achieve profit after tax break-even by the second half of fiscal year 2025.

Revenue from the company's express parcel services, which contributes more than half to the total, climbed 21% year-on-year.

The company, which also operates the Part Truckload and Truckload businesses, saw its total income rise 21% to 23.25 billion rupees.

Total expenses were up 7.7%, with freight, handling and servicing costs jumping 11.5%.

Rival Blue Dart Express BLDT.NS reported a marginal rise in quarterly profit last week, driven by a recovery in demand during the festive season.

Delhivery also approved a scheme of amalgamation for the merger of its units Spoton Logistics and Spoton Supply Chain Solutions into and with the company.

Shares of Delhivery closed 0.9% up ahead of the results.

($1 = 82.8870 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru;Editing by Sohini Goswami)

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BENGALURU, Jan 29 (Reuters) - Indian freight operating company Mahindra Logistics MALO.NS reported a loss for a fourth straight quarter, hurt by mounting costs and a persistent decline in its express cargo business amid stiff competition.

The logistics arm of the tech-to-tractor conglomerate Mahindra Group posted a consolidated net loss after tax of 174.1 million rupees ($2.1 million) in the quarter ended Dec. 31, compared with a profit of 13.9 million rupees a year ago.

During the quarter, a 6% jump in total expenses to 14.13 billion rupees outweighed a 5% rise in revenue to 13.97 billion rupees.

"Q3 FY24 was a period of moderate demand. Continuing growth in engineering and FMCG segments were offset by slow growth in other markets," CEO and Managing Director Rampraveen Swaminathan said in a statement.

The company's profitability has been hit by intensive competition from international and domestic players in the previous quarters as well.

Persistent losses in the express cargo business Rivigo, which was acquired in 2022, also weighed on Mahindra Logistics' profit.

Festive season volume growth was offset by lower volumes due to increased shutdowns in e-commerce and some automotive original equipment manufacturers, CEO Swaminathan said.

Mahindra Logistics incurred a 99.4-million-rupees loss from its mainstay segment of supply chain management during the reported quarter.

The company competes with firms such as Delhivery DELH.NS, which has yet to report earnings for the December quarter, while peers like Blue Dart Express BLDT.NS have reported a marginal increase in quarterly profit after four quarters of losses.

Shares of Mahindra Logistics closed 1% higher ahead of results.

($1 = 83.1050 Indian rupees)

(Reporting by Manvi Pant and Hritam Mukherjee in Bengaluru; Editing by Eileen Soreng and Mrigank Dhaniwala)

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** Shares of Delhivery DELH.NS up ~5.25% and set for fourth consecutive session of gains

** Stock set for best one-day rise since mid-October and four-day jump since mid-June if trend holds

** DELH on Wednesday launched its largest trucking terminal in Maharashtra

** DELH rose 0.38% in the previous session, amid drop in Indian small- and mid-cap, and blue-chip stocks

** Maharashtra facility is equipped to process over 32,000 shipments and 17,000 freight units per hour, says DELH

** Macquarie reiterated "outperform" rating and estimated a 44.4% growth in stock value in next 12 months, terming it the "preferred India e-commerce proxy"

** Trading volume is 2.83 mln shares, 1.3 times the 30-day avg - LSEG data

** Including day's gains DELH up 15% YTD, compared to 7.41% and 6.33% drop in Allcargo Logistics ACLL.NS and Blue Dart Express BLDT.NS, respectively

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of India's Delhivery DELH.NS rise 3.4% to 376.4 rupees, posting sharpest intraday pct gain since Oct. 27

** Macquarie sees DELH achieve profit after tax break-even by H2FY25

** Co estimates volume share within third-party logistics segment is about twice its closest peer - brokerage

** Adds, profitable growth in partial truck load segment, market share gain in express parcel segment, "judicious" look at M&A to scale up business "key priorities" in next 12-18 months

** Shares on track to rise for third straight day, set to snap two consecutive weeks of losses

** Macquarie's PT of 520 rupees is 13.5% higher than average PT of 19 analysts covering the stock - LSEG data

** Including day's gains, stock up more than 13% YTD

(Reporting by Hritam Mukherjee in Bengaluru)

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** Kotak Institutional Equities upgrades India's Delhivery DELH.NS stock rating to "buy" from "reduce"; raises price target to 410 rupees from 390 rupees, citing long-term scope for higher profitability

** Shares of Delhivery rise as much as 1.66% to 364 rupees apiece

** Delhivery's current market price is an attractive entry point as it assumes 15% volume growth for e-commerce logistics business over the next decade - Kotak

** Trading volume is 2.55 mln shares, 1.3 times the 30-day avg - LSEG data

** The mean rating of 19 analysts tracking DELH is 2.1, equivalent to "buy" - LSEG data

** Including session's gains, DELH shares up 9% in 2023 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** CLSA recommends Indian large-cap liquid stocks for maximising capital protection and select mid-caps for growth opportunities

** Recommendations include Axis Bank AXBK.NS, Bharti Airtel BRTI.NS, Hindustan Unilever HLL.NS , ICICI Bank ICBK.NS, Mahindra & Mahindra MAHM.NS, NTPC NTPC.NS, Sun Pharma SUN.NS, UltraTech ULTC.NS, Tata Consultancy Services TCS.NS and State Bank of India SBI

** Says, stocks offer exposure to growth drivers, such as end of India's rate hike cycle in 2024, rural recovery in mid-2024 and RBI's move to protect rupee, ensuring external stability

** Adds mid-cap stocks such as Zomato ZOMT.NS, PVR Inox PVRL.NS, Delhivery DELH.NS, Prestige Estate PREG.NS and Paytm PAYT.NS also offer long-term value

** Says its picks are on three defensive principles - sectors that have already sold off or underperformed markets, traditional defensives, and stocks with a positive major event coming up

** India's economy will reach $29 tln in 2047 from current$3.4tn and $45 tln by 2052, surpassing Japan's nominal US-dollar GDP by 2027 - CLSA

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of Delhivery Ltd DELH.NS fall as much as 3.7% to a 398.5 rupees

** Japan's SoftBank 9984.T likely to sell stake in co worth $150 mln, as per Moneycontrol

** SoftBank currently holds 14.46% stake in co through its vision fund

** Over 18.5 million shares traded across seven block deals - National Stock Exchange data

** Logistics firm's stock most active since March 17, with nearly 20 million shares traded by 9:45 a.m. IST

** Nineteen analysts covering the stock rate it "buy" on avg; median PT is 450 rupees - LSEG data

** Stock trims YTD gains to 21.5%

($1 = 83.2500 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Corrects paragraph 4 to say stake sale happened in "March", not "May"

BENGALURU, Nov 16 (Reuters) - SoftBank 9984.T is likely to sell a stake worth $150 million in Indian logistics firm Delhivery DELH.NS, Moneycontrol reported on Thursday, citing sources.

The Japanese conglomerate may sell the shares, which equates to a roughly 4% stake in Delhivery, via a block deal, Moneycontrol said in a social media post on X, formerly known as Twitter. It did not give any indicative price range.

SoftBank and Delhivery did not immediately respond to a Reuters request for comment.

SoftBank, through its subsidiary Svf Doorbell (Cayman), held a 14.5% stake in the logistics firm as of Sept. 30, exchange data showed, after it offloaded 3.8% of its stake in March.

Kotak Mahindra Capital is the advisor on the block deal, Moneycontrol's post said.

Delhivery's shares closed 0.6% higher at 413.85 rupees on Thursday.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Savio D'Souza)

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Aug 9 (Reuters) - Delhivery Ltd DELH.NS:

• WINS CONTRACT TO FULFILL HAVELLS INDIA'S WESTERN REGION DEMAND

Source text for Eikon: ID:nBSE7XTNSH

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Aug 4 (Reuters) - Delhivery Ltd DELH.NS:

• JUNE-QUARTER CONSOL LOSS 895 MILLION RUPEES VERSUS LOSS 3.99 BILLION RUPEES

• JUNE-QUARTER CONSOL TOTAL INCOME 20.31 BILLION RUPEES VERSUS 17.95 BILLION RUPEES

Source text for Eikon: ID:nBSE18QlBv

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** Shares of Indian logistics firm Delhivery DELH.NS up as much as 2.95% at 404.90 rupees

** About 1.3 mln co shares change hands in two block deals priced between 400 rupees and 402.6 rupees apiece, as per Refinitiv data

** Stock set to gain after two sessions of losses

** Shares trading above 50-, 100- and 200-day simple moving averages, indicating bullish growth

** More than 2.2 mln shares change hands by 11:24 a.m. IST, 0.9x 30-day avg

** Fourteen out of 19 analysts rate the stock "buy" or higher, 4 suggest "hold" while 1 recommend "sell"; median TP is 435 rupees - Refinitiv data

** YTD stock up ~21%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Delhivery Ltd DELH.NS fall as much as 1.8% to 386.4 rupees, biggest intraday drop since June 26

** Kotak Institutional Equities downgrades stock to "reduce" from "buy", cuts TP by 5% to 390 rupees

** Says Flipkart's logistics arm Ekart launched its B2B Express Air and Surface services entering DELH's turf, leading to competitive intensity

** Says Ekart's success can alter Delhivery's medium-term growth

** DELH last off 0.1%, trimming YTD gains to 18.7%

(Reporting by Ashna Teresa Britto in Bengaluru)

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June 26 (Reuters) - Delhivery Ltd DELH.NS:

• CA SWIFT INVESTMENTS SELLS ITS ENTIRE 2.52% STAKE IN DELHIVERY ON JUNE 22 - EXCHANGE FILING

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Corrects to add currency in paragraph 2

BENGALURU, June 22 (Reuters) - Private equity firm Carlyle has proposed to sell 2.53% stake held in Indian logistics firm Delhivery DELH.NS via its special purpose vehicle CA Swift Investments, according to a term sheet seen by Reuters on Thursday.

Carlyle plans to sell Delhivery's shares at a floor price of 385.50 rupees apiece, compared with the last close at 388.60 rupees.

At the lower range, the total offer size is worth $86 million.

(Reporting by Sethuraman NR in Bengaluru; Editing by Sohini Goswami)

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