Q2 2025 Delhivery Ltd Earnings Call Transcript
Key Points
- Delhivery Ltd (BOM:543529) achieved its second consecutive quarter of PAT profitability, indicating financial stability.
- The Part Truckload (PTL) business showed robust growth with a 23% year-on-year increase in freight tonnage.
- The company expanded its customer base to 38,000, a year-on-year growth of nearly 30%, reflecting strong market penetration.
- Delhivery Ltd (BOM:543529) maintained a strong cash position with INR5,488 crores in cash and cash equivalents.
- The company is well-prepared for the peak festive season, having expanded capacities in real estate, people, and vehicles.
- Express Parcel business margins declined from 18% to 15% year-on-year, raising concerns about profitability in this segment.
- Overall revenue growth was relatively flat quarter-on-quarter, indicating potential challenges in scaling operations.
- Supply Chain Services experienced a decline in service EBITDA from INR11 crores to negative INR9 crores due to a one-time provision.
- The company faces challenges from a consumption slowdown, impacting growth in the Express segment.
- Labor market conditions in India remain challenging, potentially affecting operational efficiency and costs.
Hi, good evening everyone. Welcome to the Q2 FY25 earnings call of Delhivery Limited hosted by Macquarie. Before we start Delhivery would like to point out that some of the statements made in today's call may be forward-looking in nature and a disclaimer to this effect has been included in the earnings presentation shared with you earlier. Kindly note that this call is meant for investors and analysts only. If there are representatives from the media, they are requested to kindly drop off this call immediately.
To discuss the results, I am pleased to welcome Mr. Sahil Barua, MD and CEO; Mr. Amit Agarwal, CFO; and Mr. Vivek Pabari, Head of Investor relations at Delhivery.
As a reminder, all participant lines will be in listen-only mode (Operator Instructions) I thank the management team for providing Macquarie, the opportunity to host the call. I now invite Mr. Sahil Barua to take us to the key highlights of the quarter post which we will open up for Q&A. Thank you and over to you, Sahil.
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