Delhivery Limited · NSE:DELHIVERY

Delhivery — Q2 FY25 Earnings Presentation

23 slides from Delhivery's earnings presentation, Nov 14, 2024

  1. Slide 1: Stock exchange filing cover letter for investor presentation

    Date: November 14, 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

  2. Slide 2: Earnings Presentation Q2 FY25

    Earnings Presentation Q2 FY25

  3. 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

  4. Slide 4: Setting up for the festive season

    Setting up for the festive season 3

  5. Slide 5: India's largest integrated logistics platform

    ss India’s largest integrated logistics platform(1) ₹2,190 Cr 185 Mn / 216 Mn(2) 427K Tons Q2 FY25 revenue from services Express Parcel shipments in Q2 FY25 PTL freight tonnage in Q2 FY25 YoY: 12.8% / QoQ: 0.8% YoY: 2.5% / QoQ: 1.5% YoY: 22.7% / QoQ: 7.0% YoY: 3.3% / QoQ: 1.9%(3) ₹57 Cr / 2.6% ₹10 C

  6. Slide 6: Key operating metrics

    Key operating metrics As of end of / for the period Q2 FY24 Q1 FY25 Q2 FY25 Pin-code(1) 18,655 18,783 18,775 Countries and territories served(2) 220+ 220+ 220+ No. of Active Customers(3) 30,359 35,277 38,044 Infrastructure (in million sq ft.) 18.39 18.73 19.49(4) Gateways 108 112 119(5) Automated so

  7. Slide 7: Q2 FY25 performance

    Q2 FY25 performance Revenue from services Express Parcel revenue Express Parcel shipments(1) (₹ Cr) YoY: 13% (₹ Cr) YoY: 7% (Mn) YoY: 3% QoQ: 1% QoQ: 2% QoQ: 1% 1,298 181 183 185 2,172 2,190 1,276 1,210 1,942 9% 209 212 216 12% 8% 7% 7% 8% 20% 22% 19% Q2 FY24 Q1 FY25 Q2 FY25 Q2 FY24 Q1 FY25 Q2 FY25

  8. Slide 8: Q2 FY25 performance

    Q2 FY25 performance Revenue from services TL Service revenue Supply Chain Services revenue (₹ Cr) YoY: 13% (₹ Cr) YoY: 5% (₹ Cr) YoY: 21% QoQ: QoQ: 1% (24%) QoQ: 2% 259 2,172 2,190 206 197 150 156 158 1,942 12% 9% 164 8% 7% 7% 8% 20% 22% 19% Q2 FY24 Q1 FY25 Q2 FY25 Q1 FY24 Q2 FY24 Q1 FY25 Q2 FY25 Cr

  9. Slide 9: 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 Q2 FY25 Revenue from services 1,746 1,796 1,822 1,860 1,930 1,942 2,194 2,076 2,172 2,190 Total service EBITDA (6) 86 139 205 196 201 306 238 258 203 % margin (0.3%) 4.8% 7.6% 11.0% 10.2% 10.

  10. Slide 10: PAT

    PAT (₹ Cr) (1) (1) (399) (254) (196) (159) (89) (103) 12 (69) 54 10 2.4% 0.5% 0.4% (3.1%) (4.4%) (5.0%) (8.2%) (10.2%) (13.5%) (22.3%) Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 FY23 FY24 FY25 (1) Out of the total reduction in depreciation and amortization expens

  11. Slide 11: Quarterly financial performance

    Quarterly financial performance ₹ Cr Q2 FY24 Q1 FY25 Q2 FY25 QoQ% YoY% Income Revenue for services 1,942 2,172 2,190 0.8% 12.8% Other income 101 110 120 8.8% 18.1% Total income 2,043 2,282 2,309 1.2% 13.0% Expense Total freight, handling and servicing cost 1,442 1,580 1,638 3.7% 13.6% Employee benef

  12. Slide 12: Working capital position improving YoY

    Working capital position improving YoY Net Working Capital (Days) 47 37 38 24 27 22 87 77 74 (1) (1) 61 62 (1) 59 40 39 37 37 35 37 Mar '21 Mar '22 Mar '23 Sep '23 Mar '24 Sep '24 Receivable days Payable days Net Working Capital Days (Receivable days – Payable days) (1) For Sep ’23, Mar ‘24 and Sep

  13. Slide 13: Appendix

    Appendix 12

  14. Slide 14: Balance sheet

    Balance sheet Total cash balance: ₹ 5,488 Cr Equity and Liabilities (₹ Cr) Mar ’24 Sep ’24 Assets (₹ Cr) Mar ’24 Sep ’24 Total equity 9,145 9,266 Non – current assets Non – current liabilities Non – current cash equivalents(1) 1,411 1,530 Property, plant and equipment (Incl CWIP) 961 1,130 Borrowing

  15. Slide 15: Strong liquidity position

    Strong liquidity position Debt to Equity ₹ Cr Mar ’23 Sep ’23 Mar ’24 Sep ’24 Term loan 199 170 126 79 Working capital loan - - - Debt (excludes CCPS) (A) 199 170 126 79 Cash and cash equivalents(1) (B) 5,508 5,534 5,444 5,488 Net debt (A-B) (5,309) (5,363) (5,318) (5,409) Networth (C) 9,177 9,111 9

  16. Slide 16: Cash flow summary

    Cash flow summary ₹ Cr FY24 H1 FY25 Net cash from / (used in) operating activities 472 276 Cash generated from / (used in) operations 510 268 Cash operating profit/ (loss) before working capital changes 495 284 Changes in net assets(1) 15 (16) Income taxes (paid) / refund (37) 8 Net cash from / (use

  17. Slide 17: Investing in capacity and capability building

    Investing in capacity and capability building 9.0% 7.5% 7.2% 6.8% 7.8% 7.4% 6.6% 0.6% 0.5% 0.4% 0.5% 1.6% 1.1% 1.1% 1.7% 1.6% 1.3% 1.9% 2.8% 2.0% 3.5% 1.7% 1.2% 2.0% 2.1% 1.2% 1.4% 1.3% 1.7% 1.7% 2.7% 1.0% 1.2% 2.3% 2.1% 1.8% 2.1% 1.4% 1.2% 1.2% 0.2% (1,2) FY19 FY20 FY21(1) FY22 FY23 FY24 H1 FY25 Ve

  18. Slide 18: Adjusted EBITDA bridge

    Adjusted EBITDA bridge ₹ Cr Q2 FY24 Q1 FY25 Q2 FY25 Remarks Total revenue from services 1,942 2,172 2,190 Less: Freight handling and servicing cost 1,442 1,580 1,638 Less: Employee benefit expense 367 333 349 Less: Other expenses 149 163 145 Reported EBITDA (16) 97 57 Add: Share based payment expens

  19. Slide 19: Cost drivers – Q2 FY24 vs Q1 FY25 vs Q2 FY25

    Cost drivers – Q2 FY24 vs Q1 FY25 vs Q2 FY25 ₹ Cr Q2 FY24 Q1 FY25 Q2 FY25 Freight, Handling and Servicing Cost(1) 1,442 1,580 1,638 % of Revenue from services 74.3% 72.7% 74.8% Line haul expenses 632 721 720 % of revenue 32.5% 33.2% 32.9% Vehicle rental expenses 389 409 431 % of revenue 20.1% 18.8%

  20. Slide 20: 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 101 23 FY26 57 12 FY27 19 2 FY28 2 - FY29 0 - Total 180 36 Number of employees holding ESOPs (vested + unvested) : 1,416 ESOPs ungranted %

  21. Slide 21: RTO Volumes (Express Parcel)

    RTO Volumes (Express Parcel) Mn Volume if the RTO shipments are Reported Volume counted separately Q2 FY25 185 216 Q1 FY25 183 212 Total H1 FY25 368 429 Q4 FY24 176 203 Q3 FY24 201 233 Q2 FY24 181 209 Q1 FY24 182 210 Total FY24 740 855 Note: Due to rounding off, totals may not correspond with the su

  22. Slide 22: 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

  23. Slide 23: For any queries, please write to us at ir@delhivery.com

    22 For any queries, please write to us at ir@delhivery.com

Delhivery — Q2 FY25 Earnings Presentation on 6ix