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Blue Dart Express Limited (BLUEDART) Fair Value & Analysis

Industrials · IN · Market cap ₹118B

BD Blue Dart Express Limited BLUEDART · NSE
Price₹5,093
Fair Value₹2,189
Upside-57.0%
Quality58/100
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Healthy Growth
Thin margins · 4.0% net margin
Low debt · generates free cash flow
0.50% dividend yield
Mixed vs. peers (8/14)
Moderate moat 50/100
Evidence: High Range ₹1,642 – ₹2,737 Share as image

Fair value as of: Aug 2, 2026

From 26 valuation models · updated 11 days ago

Share price +3.0% over the past month.

A solid business, but screening 57% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹2,737). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

₹9,263 ₹4,647 Fair Value ₹2,189 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.

How to read this chart

60‑month range ₹4,647 – ₹9,263 · fair‑value band ₹1,642 – ₹2,737 · the ₹5,093 price screens above the ₹2,189 fair value. Dashed = 300-day average. As of Aug 2, 2026.

Full chart & analysis →

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Analysis

Blue Dart Express Limited (BLUEDART) currently trades at ₹5,093, while our model-based Fair Value estimate is ₹2,189, implying the stock looks roughly 57.0% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Blue Dart Express Limited generated revenue of ₹61.4B at a net margin of 4.0%. Revenue grew 8.0% year over year. It earns a return on equity of 14.8%. Net debt stands at ₹9.0B. Fundamentals as of Aug 2, 2026

Our scenario range runs from ₹1,642 (bear case) to ₹2,737 (bull case); at ₹5,093, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 28% below its 52-week high and 10% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -11% fair-value upside, at -57%, BLUEDART screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹2,639 ₹4,437 ₹7,423 80
Residual Income ₹728.55 ₹931.60 ₹2,420 76
Rev-Margin DCF ₹1,981 ₹3,187 ₹4,714 74
All 26 models by family
DCF Models
FCF DCF ₹2,645 ₹4,565 ₹7,819 38
Owner Earnings ₹2,582 ₹4,454 ₹7,626 31
5Y Revenue Exit ₹1,981 ₹3,197 ₹4,805 39
5Y EBITDA Exit ₹3,340 ₹5,944 ₹9,178 41
5Y P/E Exit ₹1,944 ₹3,121 ₹4,427 38
10Y Revenue Exit ₹2,133 ₹3,352 ₹5,131 36
10Y EBITDA Exit ₹3,080 ₹5,342 ₹8,723 37
10Y P/E Exit ₹2,161 ₹3,296 ₹4,820 35
Earnings-Based
Graham-Dodd ₹708.98 ₹3,064 ₹4,189 54
Lynch FV ₹786.75 ₹1,124 ₹1,461 50
PEG = 1.0 ₹786.75 ₹1,124 ₹1,461 46
EPV ₹1,446 ₹1,670 ₹1,866 59
Dividend Discount
Gordon GGM ₹229.55 ₹477.27 ₹757.14 70
DDM Multi-Stage ₹229.55 ₹402.45 ₹500.91 61
Multiples
P/E Multiple ₹1,642 ₹2,189 ₹2,737 63
P/S Multiple ₹1,329 ₹1,772 ₹2,216 58
P/B Multiple ₹1,329 ₹1,772 ₹2,216 55
EV/EBIT ₹2,328 ₹3,070 ₹3,813 53
EV/EBITDA ₹4,007 ₹5,309 ₹6,611 54
EV/Revenue ₹1,690 ₹2,372 ₹3,053 43
Asset-Based
NCAV (Graham) ₹374.42 ₹501.72 ₹748.83 50
Growth DCF
Growth DCF ₹2,639 ₹4,437 ₹7,423 80
Rev-Margin DCF ₹1,981 ₹3,187 ₹4,714 74
Economic Profit
Residual Income ₹728.55 ₹931.60 ₹2,420 76
ROIC Compounder ₹1,615 ₹2,114 ₹2,751 72
Growth Earnings
Growth-Adj P/E ₹1,312 ₹1,874 ₹2,436 68

Widest divergence: DCF Models (₹3,352) versus Dividend Discount (₹402.45). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹61.4B
Revenue growth (YoY) +8.0%
Net margin 4.0%
Return on equity 14.8%
Free cash flow ₹4.8B FY2026
P/E ratio 47.9
More key figures
Operating margin 13.5%
EPS (TTM) ₹104.13
Dividend yield 0.5%
EPS growth (YoY) +189%
Net debt ₹9.0B FY2026

Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 42

Profitability 54
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 56
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 26
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Blue Dart Express Limited provides courier and express services in India. It provides day-definite and time-definite delivery schedules across air and ground network under the Domestic Priority, Dart Apex, Dart Surfaceline, and Dart Plus names; and door-to-door ground distribution service under the Dart Surfaceline name.

Full company description

Blue Dart Express Limited provides courier and express services in India. It provides day-definite and time-definite delivery schedules across air and ground network under the Domestic Priority, Dart Apex, Dart Surfaceline, and Dart Plus names; and door-to-door ground distribution service under the Dart Surfaceline name. The company also offers air freight services between the airports of Kolkata, Mumbai, Delhi, Bangalore, Chennai, Hyderabad, and Ahmedabad; air express and ground express packaging services under the Smart Box name; wood-free palletized packaging; shipment for freight of 50kg, 75kg, or above 100kg; door-to-door express deliveries for documents and shipments; international services; and temperature-controlled logistics solutions, as well as operates domestic express airline charter. It has a fleet of 6 Boeing 757-200 freighters and 2 Boeing 737 aircraft; and a flotilla of various vehicles, facilities, and e-vehicles in India. Blue Dart Express Limited was founded in 1983 and is headquartered in Mumbai, India. Blue Dart Express Limited is a subsidiary of DHL Express (Singapore) Pte. Ltd.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Blue Dart Express Limited reported revenue of ₹61.4B in FY2026 versus ₹44.1B in FY2022, a compound +8.6%/yr. Reported net income was ₹2.5B in FY2026, compounding −10.3%/yr from FY2022.

Growth Quality 89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹61.4B
Latest YoY
+7.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.3%
Avg. growth/yr (22Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.8%
Revenue +8.6%/yr
FY22 ₹44.1B
FY23 ₹51.7B
FY24 ₹52.7B
FY25 ₹57.2B
FY26 ₹61.4B
Net income −10.3%/yr
FY22 ₹3.8B
FY23 ₹3.7B
FY24 ₹3.0B
FY25 ₹2.5B
FY26 ₹2.5B
Character of growth · EPS growth decomposed (2015-2026) +6.2 % p.a.
Revenue per share +9.6 pp

of which total revenue +9.6 pp · buybacks/dilution +0.0 pp

EBIT margin −3.1 pp
Tax rate +1.5 pp
Residual (interest, one-offs) −1.8 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

BLUEDART screens 57% overvalued. Compare with United Parcel Service, Inc →

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Cite: Fair Value Calculator (2026). "Blue Dart Express Limited Fair Value". https://www.fairvalue-calculator.com/stock/BLUEDART

Peer Group

Integrated Freight & Logistics · 217 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 58 · Above median
Fair Value upside −57% · Bottom 25%
Return on equity (TTM) 15% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 4% · Above median
Operating margin (TTM) 13% · Top 25%
Revenue growth 8% · Above median
Dividend yield (TTM) 0.5% · Bottom 25%

Valuation Multiples vs Integrated Freight & Logistics median · lower = cheaper

P/E (TTM) 47.9× · Pricier than 75% of peers
P/B 6.66× · Pricier than 75% of peers
P/S (TTM) 1.93× · Pricier than 75% of peers
P/FCF 0.3× · Cheaper than 75% of peers
EV/EBITDA 12.2× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 44
FUTURE 40 · sector 8
PAST 59 · sector 26
HEALTH 100 · sector 94
DIVIDEND 10 · sector 55

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Integrated Freight & Logistics stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).

Stock Price Fair Value vs Fair Value
United Parcel Service, Inc UPS $117.72 $104.58 -11%
FedEx Corporation FDX $314.69 $347.68 +10%
Deutsche Post AG DHL €57.22 €53.18 -7%
DSV A/S DSV kr 1,660 kr 712.57 -57%
Kuehne + Nagel International AG KNIN CHF 209.90 CHF 147.92 -30%
J.B. Hunt Transport Services, Inc JBHT $291.41 $133.80 -54%
S.F. Holding 002352 ¥31.91 ¥48.64 +52%
C.H. Robinson Worldwide, Inc CHRW $193.50 $86.56 -55%
Expeditors International of Washington, Inc EXPD $172.02 $115.95 -33%
ZTO Express (Cayman) Inc 2057 HK$185.20 HK$224.26 +21%

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Frequently asked questions

Is Blue Dart Express Limited (BLUEDART) overvalued or undervalued?
As of Aug 2, 2026, our model estimates a fair value of ₹2,189 versus a price of ₹5,093, about −57% (overvalued).
What is the fair value of BLUEDART?
Our model-based fair value for Blue Dart Express Limited is ₹2,189 (as of Aug 2, 2026), built from audited fundamentals. The current price is ₹5,093.
What is the quality score of BLUEDART?
Blue Dart Express Limited has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Blue Dart Express Limited (BLUEDART)?
Blue Dart Express Limited reported trailing-twelve-month revenue of about ₹61.4B (latest available figure, as of Aug 2, 2026).
What is the net profit margin of BLUEDART?
The net profit margin of Blue Dart Express Limited is about 4.0%, meaning it keeps roughly 4.0% of revenue as net income. Based on the latest reported figures.
Does Blue Dart Express Limited pay a dividend?
Blue Dart Express Limited currently shows a dividend yield of about 0.50% relative to its recent price (as of Aug 2, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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