Delhivery Limited · NSE:DELHIVERY

Delhivery — Q3 FY25 Earnings Presentation

23 slides from Delhivery's earnings presentation, Feb 7, 2025

  1. Slide 1: Exchange filing cover letter for investor presentation

    Date: February 07, 2025 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 Q3 FY25

    Earnings Presentation Q3 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: Continued profitable growth in a challenging environment

    Continued profitable growth in a challenging environment 3

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

    ss India’s largest integrated logistics platform(1) ₹2,378 Cr 206 Mn / 242 Mn(2) 412K Tons Q3 FY25 revenue from services Express Parcel shipments in Q3 FY25 PTL freight tonnage in Q3 FY25 YoY: 8.4% / QoQ: 8.6% YoY: 2.4% / QoQ: 11.2% YoY: 16.6% / QoQ: (3.4%) YoY: 4.0% / QoQ: 12.2%(3) ₹102 Cr / 4.3% ₹

  6. Slide 6: Key operating metrics

    Key operating metrics As of end of / for the period Q3 FY24 Q2 FY25 Q3 FY25 Pin-code(1) 18,675 18,775 18,780 Countries and territories served(2) 220+ 220+ 220+ No. of Active Customers(3) 30,598 38,044 39,775 Infrastructure (in million sq ft.) 19.24 19.49(4) 20.63 Gateways 110 119(5) 112 Automated so

  7. Slide 7: Q3 FY25 performance

    Q3 FY25 performance Revenue from services Express Parcel revenue Express Parcel shipments(1) (₹ Cr) YoY: 8% (₹ Cr) YoY: 3% (Mn) YoY: 2% QoQ: 9% QoQ: 15% QoQ: 11% 1,448 1,488 2,378 201 206 185 2,194 2,190 1,298 9% 233 216 242 8% 9% 7% 7% 7% 19% 17% 22% Q3 FY24 Q2 FY25 Q3 FY25 Q3 FY24 Q2 FY25 Q3 FY25

  8. Slide 8: Q3 FY25 performance

    Q3 FY25 performance Revenue from services TL Service revenue Supply Chain Services revenue (₹ Cr) YoY: 8% (₹ Cr) YoY: 5% (₹ Cr) YoY: 29% QoQ: 9% QoQ: 12% QoQ: 1% 2,378 2,194 2,190 197 222 9% 153 158 160 173 8% 9% 7% 7% 7% 19% 17% 22% Q3 FY24 Q2 FY25 Q3 FY25 Q3 FY24 Q2 FY25 Q3 FY25 Cross Border Servi

  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 Q3 FY25 Revenue from services 1,746 1,796 1,822 1,860 1,930 1,942 2,194 2,076 2,172 2,190 2,378 Total service EBITDA (6) 86 139 205 196 201 306 238 258 203 256 % margin (0.3%) 4.8% 7.

  10. Slide 10: PAT

    PAT (₹ Cr) (399) (254) (196) (159) (89) (103) 12 (69) 54 10 25 2.4% 0.5% 0.4% 1.0% (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 Q3 FY25 FY23 FY24 FY25(1) (1) Out of the total reduction in depreciation and amortiza

  11. Slide 11: Quarterly financial performance

    Quarterly financial performance ₹ Cr Q3 FY24 Q2 FY25 Q3 FY25 QoQ% YoY% Income Revenue for services 2,194 2,190 2,378 8.6% 8.4% Other income 131 120 99 (17.5%) (24.6%) Total income 2,325 2,309 2,477 7.3% 6.5% Expense Total freight, handling and servicing cost 1,572 1,638 1,751 6.9% 11.4% Employee ben

  12. Slide 12: Appendix

    Appendix 11

  13. Slide 13: 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

  14. Slide 14: 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

  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 Q3 FY24 Q2 FY25 Q3 FY25 Remarks Total revenue from services 2,194 2,190 2,378 Less: Freight handling and servicing cost 1,572 1,638 1,751 Less: Employee benefit expense 360 349 356 Less: Other expenses 154 145 169 Reported EBITDA 109 57 102 Add: Share based payment expens

  19. Slide 19: Cost drivers – Q3 FY24 vs Q2 FY25 vs Q3 FY25

    Cost drivers – Q3 FY24 vs Q2 FY25 vs Q3 FY25 ₹ Cr Q3 FY24 Q2 FY25 Q3 FY25 Freight, Handling and Servicing Cost(1) 1,572 1,638 1,751 % of Revenue from services 71.6% 74.8% 73.6% Line haul expenses 696 720 749 % of revenue 31.7% 32.9% 31.5% Vehicle rental expenses 434 431 488 % of revenue 19.8% 19.7%

  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 97 23 FY26 66 12 FY27 25 2 FY28 5 - FY29 0 - Total 194 36 Number of employees holding ESOPs (vested + unvested) : 1,389 ESOPs ungranted % o

  21. Slide 21: RTO Volumes (Express Parcel)

    RTO Volumes (Express Parcel) Mn Volume if the RTO shipments are Reported Volume counted separately Q3 FY25 206 242 Q2 FY25 185 216 Q1 FY25 183 212 Total 9M FY25 574 671 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 corres

  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 — Q3 FY25 Earnings Presentation on 6ix