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Delhivery Shares Can Zoom 24% Says ICICI Securities On Strong Growth Outlook
Any correction in Delhivery's stock’s price should be an attractive opportunity to 'Buy' adds ICICI Securities.
06 Nov 2025, 04:28 PM IST 
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Delhivery's express parcel revenue was Rs 16.1 billion, up 14.8% QoQ/24.1% YoY driven by volume growth of 18.3% QoQ/33.0% YoY. (Photo source: Company website)
Delhivery’s Q2 FY26 consolidated revenue was Rs 26 billion (up 11.6% QoQ/16.9% YoY), in line with our estimates. Adjusted Ebitda was Rs 830 million, with margin of 3.2% (flattish QoQ/up 278 bps YoY). Loss was Rs 505 million in Q2 FY26 (vs PAT of Rs 910 in Q1 FY26).
