Delhivery share price today: Shares of logistics major Delhivery today extended the gains to the fourth straight session, gaining more than 6.5 per cent to hit a new 52-week high level on strong growth expectations in FY27. The stock opened in the green at ₹466.50 and scaled to a new high of ₹491.70 on the National Stock Exchange (NSE).
Delivery share price target
Brokerage firm JM Financial has maintained a ‘Buy’ rating on Delivery shares for a target price of ₹605. The target implies an upside of more than 20 per cent from the CMP.
Delivery FY27 outlook
JM Financial said Delhivery is well-positioned for strong growth in the near to medium term, supported by a favourable industry structure.
According to JM Financial, though 1QFY27 margins could remain under pressure due to the recent increase in fuel costs and minimum wage hikes across a few states, it views these as transitory headwinds.
Importantly, the brokerage believes that Delhivery will pass on these fuel cost hikes to its clientele and benefit from robust growth with higher network utilisation leading to stronger operating leverage, driving a sharp recovery in profitability from 2!FY27.
“As fuel cost pass-throughs normalise, wage inflation is absorbed, and operating leverage flows through the P&L, profitability should improve meaningfully from 2QFY2,” analysts at JM Financial said.
The brokerage expects overall revenue to grow 25 per cent Y-o-Y and adjusted Ebitda margin to expand 370 bps to 6.7 per cent by FY27E.
Beyond near-term cost pressures, JM Financial said that the underlying industry structure is materially more favourable for large, scaled up 3PL players.
After Delhivery’s acquisition of Ecom Express, the market has evolved into a duopoly with Delhivery and Shadowfax being the only scaled up national networks. Delhivery has the largest market share, while the third-largest player XpressBees is facing operational challenges, limiting its ability to aggressively compete for market share.
“Industry growth will be increasingly captured by the leading players. Hence, Delhivery is particularly well positioned to benefit given its wider pin code reach, integrated network infrastructure, and superior technology stack,” JM Financial added.
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