Delhivery posts ₹105 billion FY26 revenue, turns cashflow positive

Delhivery reported revenue from services of more than ₹100 billion in FY26, while turning free cashflow positive and delivering one billion express parcels during the year, according to its financial results for the quarter and year ended March 31, 2026. The company reported revenue from services of ₹104.86 billion in FY26, up 17% year-on-year, while EBITDA doubled to ₹7.64 billion with a margin of 7.3%. Consolidated profit after tax (PAT) for FY26 stood at ₹1.53 billion.

The express parcel business delivered one billion e-commerce parcels in FY26, equivalent to the cumulative volume handled during Delhivery’s first 10 years of operations. The company’s part truckload (PTL) business transported around two million metric tonnes of freight during the year, recording 17% year-on-year growth. Delhivery also reported PAT of ₹3.47 billion before accounting for Ecom integration costs and exceptional items.

The company said it became free cashflow positive during FY26, reporting ₹890 million in free cashflow, driven by sustained volume growth, margin expansion and lower capital intensity. Delhivery’s transport business, including express and PTL, recorded a return on invested capital (ROIC) of 16%, while the company ended March 2026 with cash and cash equivalents of ₹45.55 billion.

In the fourth quarter of FY26, Delhivery reported revenue from services of ₹28.48 billion, up 30% year-on-year, while EBITDA stood at ₹2.31 billion with a margin of 8.1%. Express parcel volumes reached 306 million shipments in the quarter, up 72% year-on-year, while PTL freight volumes increased 20% year-on-year to 549,000 metric tonnes. Consolidated PAT for Q4 FY26 stood at ₹720 million, while PAT before Ecom integration costs and exceptional items was ₹870 million.

During the quarter, Delhivery introduced an AI agent-powered autonomous transport management system aimed at automating freight procurement, shipment planning, execution and invoice reconciliation. It also expanded its economy air-parcel service, Delhivery International, to the UK, Canada and Australia and launched Delhivery One SmartAssist, an AI-driven customer support tool integrated into the Delhivery One platform.

The company also expanded its on-demand intra-city logistics service, Delhivery Local, to Jaipur, taking its presence to six cities, and announced a partnership with NVIDIA to develop an India-focused AI-native digital mapping platform.