Looking ahead, the brokerage estimates Delhivery's Express segment to clock a 14% revenue compound annual growth rate over FY26-28, aided by healthy e-commerce volumes and industry consolidation. Meanwhile, margin expansion is likely to be driven by operating leverage and a favorable product mix. Partial truck-load segment offers significant headroom, with organised players handling less than 25% of industry volumes; the brokerage projects a 15% revenue CAGR over FY26-28, led by SME and retail expansion, yield improvement, and increasing adoption of value-added services.
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Motilal Oswal Report
Domestic brokerage firm Motilal Oswal has reiterated its Buy rating on Delhivery Ltd. with a DCF-based target price of Rs 510, implying a potential uspide of 28% from the reports market price of Rs 397, aided by healthy growth in e-commerce shipments and market share gains after consolidation.
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Looking ahead, the brokerage estimates Delhivery's Express segment to clock a 14% revenue compound annual growth rate over FY26-28, aided by healthy e-commerce volumes and industry consolidation.
Meanwhile, margin expansion is likely to be driven by operating leverage and a favorable product mix. Partial truck-load segment offers significant headroom, with organised players handling less than 25% of industry volumes; the brokerage projects a 15% revenue CAGR over FY26-28, led by SME and retail expansion, yield improvement, and increasing adoption of value-added services.
Overall, Motilal Oswal expects the logistics company to report sales/Ebitda/adjusted profit after tax compound annual growth rate of 15%/35%/82% over FY26-28.
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