On 6 Nov 2026, Blue Dart Express was priced at ₹4,541.30, or 34.8× trailing earnings, against an industry P/E of 16.1×, and the shares are 28% below their 52-week high. Sales grew 5.9% a year over 3 years while net profit fell 13%, with ROCE of 17% and ROE of 15%. Debt is 0.64× equity, and its dividend yield is 0.6%. It is a small-cap company with a market cap of ₹10,776 Cr, ranked 3rd of 43 Integrated Freight & Logistics companies by market cap; the shares fell 28% over the past year.
- ₹4,575.10
- ₹4,600.00
- ₹4,481.10
- ₹4,576.30
- 15.3K
Health check
- ReturnsBehind
−28.2% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 34.8 vs industry 16.1.
- GrowthSlow
Sales +5.9%, profit −12.6% a year over 3 years.
- ProfitabilityAverage
ROCE 16.9% vs peer median 9.0%.
- Balance sheetFair
Debt 0.64× equity, interest covered 4.8×, Piotroski 5 of 9.
- Red flags1 to check
P/E of 34.8 against an industry P/E of 16.1.
Small cap
Defensive
Key metrics
- Market cap
- ₹10,776 Cr
- Small cap
- P/E
- 34.8
- Industry 16.1
- Price to book
- 6.06
- Peers 3.28
- Dividend yield
- 0.55%
- ROE
- 14.8%
- Peers 9.4%
- ROCE
- 16.9%
- Peers 9.0%
- Debt to equity
- 0.64
- Debt ₹1,142 Cr
- EPS (TTM)
- ₹130.46
- Face value ₹10
- OPM (TTM)
- 6.1%
- Net margin 4.5%
- Sales growth
- +15.0%
- Latest quarter vs a year ago
- Profit growth
- +81.2%
- Latest quarter vs a year ago
- Price to sales
- 1.70
- EV/EBITDA 10.4
Strengths and risks
Strengths
- Quarterly profit up 81.2% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 34.8 against an industry P/E of 16.1.
About Blue Dart Express
Blue Dart Express Limited provides courier and express services in India. Its domestic express portfolio includes time-definite delivery services, such as Domestic Priority 1030 and Domestic Priority 1200, and day-definite delivery solutions, including DP-Dox, DP Parcel, Air Express Package, Surface B2B, eCom Air, eCom Lite Surface, and eCom Surface. The company also offers air freight services between the airports of Chennai, Bangalore, Mumbai, Delhi,…
- Headquarters
- Mumbai
- Employees
- 13,251
- Sector
- Industrials
- ISIN
- INE233B01017
- Website
- bluedart.com
Price range
- Avg volume (3M)
- 12.1K
- 1-year return
- minus 28.2%
- From 52-week high
- minus 28.0%
Analyst consensus
Peers · Integrated Freight & Logistics
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DELHIVERYDelhivery | 428.00 | minus 0.48% | 32,080 | 176.9 | 3.28 | 2.6% | 1.9% | 0.1% | 13.2% | – | 0.00% | minus 11.3% |
| SHADOWFAXShadowfax Technologies | 288.25 | minus 0.88% | 16,971 | 67.3 | 8.95 | – | 17.4% | 6.2% | 43.7% | – | 0.00% | plus 162.1% |
| BLUEDARTBlue Dart Express | 4,541.30 | minus 0.76% | 10,776 | 34.8 | 6.06 | 16.9% | 14.8% | 6.7% | 5.9% | −12.6% | 0.55% | minus 28.2% |
| TCITransport Corporation of India | 861.45 | minus 1.38% | 6,485 | 14.4 | 2.37 | 18.1% | 17.7% | 7.6% | 9.1% | 12.9% | 1.16% | minus 26.1% |
| LEAPINDLEAP India | 121.97 | plus 0.05% | 5,373 | 71.7 | 3.34 | 9.0% | 9.6% | 22.9% | 42.4% | 90.5% | 0.00% | minus 15.8% |
| TVSSCSTVS Supply Chain Solutions | 117.07 | minus 1.62% | 5,174 | 80.2 | 2.54 | 9.0% | 6.0% | 2.3% | 3.3% | 42.1% | 0.00% | minus 8.2% |
| MAHLOGMahindra Logistics | 421.10 | plus 0.10% | 4,181 | 55.8 | 3.48 | – | 7.1% | 2.3% | – | – | 0.59% | plus 22.2% |
| GATEWAYGateway Distriparks | 46.98 | minus 1.14% | 2,347 | 10.0 | 1.00 | 11.0% | 9.4% | 14.8% | 15.9% | 2.1% | 4.26% | minus 25.1% |
| Median of 7 peers | – | −0.88% | 5,373 | 67.3 | 3.28 | 9.0% | 9.4% | 6.2% | 14.6% | 27.5% | 0.00% | −11.3% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,417 | 1,442 | 1,616 | 1,533 | 1,658 | |
| – | – | – | +8.2% | +15.0% | |
| 1,329 | 1,367 | 1,513 | 1,451 | 1,533 | |
| 88.8 | 74.7 | 103 | 82.2 | 124 | |
| 6.3% | 5.2% | 6.4% | 5.4% | 7.5% | |
| 12.3 | 9.9 | 43.9 | 12 | 15.4 | |
| 20 | 18.6 | 23.8 | 21.5 | 20.6 | |
| – | – | −43.9 | −0.1 | – | |
| 81 | 65.9 | 79 | 72.5 | 119 | |
| 31.9% | 25.9% | 13.5% | 32.6% | 25.7% | |
| 55.2 | 48.8 | 68.3 | 48.9 | 88.5 | |
| – | – | – | minus 11.4% | +81.2% | |
| 23.24 | 20.58 | 28.79 | 20.59 | 37.29 |
Profit & loss
- Sales CAGR 3Y
- +5.9%
- Profit CAGR 3Y
- −12.6%
- EPS CAGR 3Y
- −12.6%
- ROE
- 14.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5,172 | 5,268 | 5,720 | 6,141 | |
| – | +1.8% | +8.6% | +7.4% | |
| 4,203 | 4,406 | 4,832 | 5,165 | |
| 969 | 862 | 888 | 976 | |
| 18.7% | 16.4% | 15.5% | 15.9% | |
| −13 | 27.1 | 6.3 | −7.1 | |
| 66.9 | 78.1 | 82.4 | 85.6 | |
| 394 | 433 | 485 | 536 | |
| 13.7 | 14.7 | 20.4 | −20.2 | |
| 508 | 393 | 347 | 327 | |
| 27.1% | 23.3% | 27.3% | 24.3% | |
| 371 | 301 | 252 | 247 | |
| – | minus 18.8% | minus 16.1% | minus 2.0% | |
| 156.16 | 126.86 | 106.38 | 104.26 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 23.8 | 23.8 | 23.8 | 23.8 | |
| 1,156 | 1,344 | 1,535 | 1,753 | |
| 1,121 | 1,074 | 1,008 | 1,142 | |
| 922 | 1,020 | 1,096 | 1,208 | |
| 3,223 | 3,461 | 3,663 | 4,127 | |
| 1,811 | 1,835 | 1,838 | 2,030 | |
| 423 | 82.3 | 81.8 | 34.2 | |
| 265 | 472 | 552 | 651 | |
| 724 | 1,071 | 1,191 | 1,412 | |
| 3,223 | 3,461 | 3,663 | 4,127 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 717 | 847 | 735 | 810 | |
| −514 | −375 | −300 | −315 | |
| −291 | −401 | −434 | −424 | |
| −88.8 | 70.9 | 1.7 | 71.7 | |
| −571 | −268 | −254 | −315 | |
| 145 | 579 | 481 | 496 | |
| −83.1 | −71.2 | −59.3 | −59.3 |
Shareholding pattern
- Promoters75.00%
- Public25.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 75.00% | 25.00% | 0.00 | |
| 30 Jun 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Mar 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Dec 2025 | 75.00% | 25.00% | 0.00 | |
| 30 Sep 2025 | 75.00% | 25.00% | – |
Major shareholders
Filings & events
News
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