On Tuesday, Mid-Cap logistics stock soared to 3 percent after partnering with Plix, a nutrition brand. The stock has delivered a 36 percent return in one year.
With a market capitalization of Rs 34,618.87 crore, the stock price of Delhivery Ltd. started trading session at a higher note of Rs 459.30 per share, soaring to 3 percent from its previous close of Rs 458.20 per share to an intraday high of Rs 485.00 per share.
Plix, Marico’s majority owned nutrition brand, has partnered with logistics service provider Delhivery Ltd. to ship its products globally. Already, the company has an existing collaboration with Delhivery Ltd. for the shipping of domestic express parcels in India.
Plix will leverage the air freight expertise of Delhivery Ltd. for the safe and swift transportation of goods from its Mumbai warehouse to its New York warehouse.
According to recent reports, Delhivery Ltd. has successfully handled more than 200 million consignments in its Express Parcel business and expanded its pin code to reach 18,675, servicing and 30,600 customers.
The company operates by providing logistics services, viz., delivery of express parcels and heavy goods, PTL freight, TL freight, warehousing, and so on.
Looking at the prime business indicators, the revenue from operations of the company on a yearly basis has increased by 20 percent, from Rs 1824 crore in Q3 FY23 to Rs 2194 crore in Q3 FY24, and in the same period, the company has incurred a net loss of Rs 196 crore in Q3 FY23 to a net profit of Rs 12 crore in Q3 FY24.
Looking at the key financial metrics, the return on equity of the company stands at 6 percent, and the return on capital employed stands at 4.98 percent for the trailing twelve months (TTM).
Delhivery Ltd. is India’s largest fully integrated logistics services provider. Established in 2011, it offers a wide range of services, including express parcel transportation, PTL freight, TL freight, cross-border logistics, supply chain solutions, and technology services. The company serves over 30 thousand customers globally, ranging from large and small e-commerce participants to SMEs, enterprises, and brands.
Written By Praveen R
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