Delhivery Limited · NSE:DELHIVERY
Delhivery — Q1 FY25 Earnings Presentation
20 slides from Delhivery's earnings presentation, Aug 2, 2024
Slide 1: Exchange filing letter for Investor Presentation
Date: August 02, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C‐1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 India Bandra (E), Mumbai – 400 051 India Scrip Code: 543529 Symbol: DELHIVERY Sub: Investor Presentation for the ‘E
Slide 2: Earnings Presentation Q1 FY25
Earnings Presentation Q1 FY25
Slide 3: Safe harbour and disclaimer
Safe harbour and disclaimer This Presentation is prepared by Delhivery Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any particular person and nothing in it shall be construed as an invitation, offer, solicitation, r
Slide 4: Continued profitable performance
Continued profitable performance 3
Slide 5: Q1 FY25 highlights
Q1 FY25 highlights 1 Profitable start to the financial year a EBITDA (+4.5%) and Adj. EBITDA (+1.7%) profitability continued b Express Parcel service EBITDA stable at ~18%, continued improvement in PTL service EBITDA with expansion to 3.2% 2 Stable Express Parcel volume performance with growth acros
Slide 6: India's largest integrated logistics platform
ss India’s largest integrated logistics platform(1) ₹2,172 Cr 183 Mn 399K Tons Q1 FY25 revenue from services Express Parcel shipments in Q1 FY25 PTL freight tonnage in Q1 FY25 YoY: 12.6% / QoQ: 4.7% YoY: 0.6% / QoQ: 4.1% YoY: 16.1% / QoQ: 3.9% ₹97Cr / 4.5% ₹37 Cr / 1.7% ₹54Cr / 2.4% EBITDA / EBITDA
Slide 7: Key operating metrics
Key operating metrics As of end of / for the period Q1 FY23 Q1 FY24 Q4 FY24 Q1 FY25 Pin-code reach(1) 18,435 18,530 18,793 18,783 Countries and territories served(2) 220+ 220+ 220+ 220+ No. of Active Customers(3) 29,282 26,514 33,278 35,277 Infrastructure (in million sq ft.) 18.89 17.39 18.82 18.73
Slide 8: Q1 FY25 performance
Q1 FY25 performance Revenue from services Express Parcel revenue Express Parcel shipments (₹ Cr) YoY: 13% (₹ Cr) YoY: 6% (Mn) YoY: 1% QoQ: 5% QoQ: 5% QoQ: 4% 1,276 183 2,172 182 176 1,217 2,076 1,202 1,930 12% 11% 11% 7% 8% 7% 20% 18% 20% Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 PTL freight r
Slide 9: Q1 FY25 performance
Q1 FY25 performance Revenue from services TL Service revenue Supply Chain Services revenue (₹ Cr) YoY: 13% (₹ Cr) YoY: 19% (₹ Cr) YoY: 26% QoQ: 5% QoQ: 11% QoQ: (10%) 259 2,172 234 2,076 174 206 156 1,930 12% 131 11% 11% 7% 8% 7% 20% 18% 20% Q1 FY24 Q4 FY24 Q1 FY25 Q1 FY24 Q4 FY24 Q1 FY25 Cross Bord
Slide 10: Service line-wise profitability
Service line-wise profitability ₹ Cr Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Revenue from services 1,746 1,796 1,824 1,860 1,930 1,942 2,194 2,076 2,172 Total service EBITDA (6) 86 139 205 196 201 306 238 258 % margin (0.3%) 4.8% 7.6% 11.0% 10.2% 10.4% 14.0% 11.5% 11.
Slide 11: Adjusted EBITDA
Adjusted EBITDA (₹ Cr) (217) (125) (67) 6 (25) (13) 92 21 37 4.2% 1.7% 1.0% 0.3% (0.6%) (1.3%) (3.7%) (7.0%) (12.5%) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 FY23 FY24 FY25 10
Slide 12: Quarterly and full year financial performance
Quarterly and full year financial performance ₹ Cr Q1 FY24 Q4 FY24 Q1 FY25 QoQ% YoY% Income Revenue for services 1,930 2,076 2,172 4.7% 12.6% Other income 101 119 110 (7.9%) 8.5% Total income 2,031 2,195 2,282 4.0% 12.4% Expense Total freight, handling and servicing cost 1,438 1,519 1,580 4.0% 9.8%
Slide 13: Appendix
Appendix 12
Slide 14: Adjusted EBITDA bridge
Adjusted EBITDA bridge ₹ Cr Q1 FY24 Q4 FY24 Q1 FY25 Remarks Total revenue from services 1,930 2,076 2,172 Less: Freight handling and servicing cost 1,438 1,519 1,580 Less: Employee benefit expense 353 357 333 Less: Other expenses 152 154 163 Reported EBITDA (13) 46 97 Add: Share based payment expens
Slide 15: Cost drivers – Q1 FY25 vs Q4 FY24
Cost drivers – Q1 FY25 vs Q4 FY24 ₹ Cr Q1 FY23 Q1 FY24 Q4 FY24 Q1 FY25 Freight, Handling and Servicing Cost(1) 1,453 1,438 1,519 1,580 % of Revenue from services 83.2% 74.5% 73.2% 72.7% Line haul expenses 648 648 708 721 % of revenue 37.1% 33.6% 34.1% 33.2% Vehicle rental expenses 361 388 391 409 %
Slide 16: Impact of change in the depreciation & amortization method
Impact of change in the depreciation & amortization method We have revised our depreciation and amortization method from Written Down Value (WDV) to Straight Line Method (SLM) w.e.f. April 1, 2024 to better reflect the pattern of economic benefits derived from the use of assets. The below table summ
Slide 17: Useful life and residual value remains unchanged
Useful life and residual value remains unchanged Useful life Residual value Asset WDV SLM WDV SLM Sorter & conveyor : 10 years Sorter & conveyor : 10 years Plant & Machinery 5% 5% Others : 5 years Others : 5 years Vehicle 8 years 8 years 5% 5% Computer 3 years 3 years 5% 5% Furniture and fitting 5 y
Slide 18: Employee Stock Options
Employee Stock Options(1) Estimated P&L charge (non-cash) for ESOPs already granted Cost of performance-based ₹ Cr Cost of time-based options(2) options(3) FY25 111 38 FY26 58 12 FY27 18 2 FY28 2 - FY29 0 - Total 188 51 Number of employees holding ESOPs (vested + unvested) : 1,506 ESOPs ungranted %
Slide 19: Definitions and abbreviations
Definitions and abbreviations Cross Border Cross border ocean & air freight and express parcel services by the Company The pro forma consolidated P&L and adjusted EBITDA compiled by our Company to illustrate the impact of the acquisition of SpotOn Logistics Private Limited on our consolidated financ
Slide 20: For any queries, please write to us at ir@delhivery.com
19 For any queries, please write to us at ir@delhivery.com