Delhivery Limited (DELHIVERY) fair value: what the stock is really worth
As of Sep 25, 2026: fair value of Delhivery Limited ₹77.88, price ₹423, upside -81.6%, quality 60 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
!Fair value ₹77.88 · Strongly overvalued (−81.6%)
✓Quality 60/100
✓Healthy Growth(revenue 5y +23.6 %/yr)
!Thin margins · 1.5% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers(4/12)
!Narrow moat33/100
!Evidence only low, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
52‑month range ₹240.29 – ₹699.20 · the ₹422.70 price screens above the ₹77.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
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Delhivery Limited provides supply chain solutions in India.
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Delhivery Limited provides supply chain solutions in India. It offers express parcel services; part truckload services; supply chain services that provide integrated warehousing and transportation services; point-to-point and multi-point full-truckload services; and cross-border services comprising door-to-door and port-to-port parcel and freight shipping services. The company also provides Delhivery Rapid, a network of shared in-city forward fulfillment centers, as well as Delhivery Direct, an on-demand intra-city pickup and delivery service. In addition, it offers SaaS and data solutions, such as the OS1 platform that provides APIs and SDKs; TransportOne, a transport management system solution; and LocateOne and RTOne data solutions for e-commerce companies. The company provides its services to e-commerce marketplaces, direct-to-consumer e-tailers, enterprises, FMCG, consumer durables, consumer electronics, lifestyle, retail, automotive, and manufacturing industries. Delhivery Limited was incorporated in 2011 and is based in Gurugram, India.
Stock analysis
Delhivery Limited (DELHIVERY) currently trades at ₹422.70, while our model-based Fair Value estimate is ₹77.88, implying the stock looks roughly 442.9% overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹201.05 per share, and 0 of the 21 models we run sit above the ₹422.70 price.
Bear case: the Earnings-Based group reads lowest at ₹39.29, and 21 of the 21 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 60/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Delhivery Limited reported revenue of ₹105B in FY2026 versus ₹68.8B in FY2022, a compound +11.2%/yr. Reported net income was ₹1.5B in FY2026.
Key figures
Market cap ₹323B (≈ $3.4B) · P/E ratio 211.4 · P/S ratio 3.07 · EPS (TTM) ₹2.00 · Net margin 1.5% · Return on equity 1.6% · Return on assets (EBIT) −5.5% · Operating margin 1.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (medium confidence).
What moves the price
The share trades about 19% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −82%, DELHIVERY screens richer than that median.
Fair Value models
Bear ₹77.88Fair Value ₹77.88Bull ₹77.88
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.9863 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+17.6%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.3%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+23.6%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+30.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−12.5% (2021) → −0.5% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+27.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +22.7% a year for the price and +10.4% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Integrated Freight & Logistics · 217 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Delhivery Limited Fair Value". https://www.fairvalue-calculator.com/stock/DELHIVERY
Frequently asked questions
Is Delhivery Limited (DELHIVERY) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹77.88 versus a price of ₹422.70, about −82% upside (overvalued).
What is the fair value of DELHIVERY?
Our model-based fair value for Delhivery Limited is ₹77.88 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹422.70.
What is the quality score of DELHIVERY?
Delhivery Limited has a Quality Score of 60/100. 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 price target for Delhivery Limited (DELHIVERY)?
Our model-based price target is the fair value of ₹77.88 (as of Sep 27, 2026) from 21 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Delhivery Limited stock forecast for 2026?
Our models put fair value at ₹77.88, about −82% upside versus a price of ₹422.70 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Delhivery Limited (DELHIVERY)?
Delhivery Limited reported trailing-twelve-month revenue of about ₹105B (latest available figure, as of Sep 27, 2026).
What growth is priced into Delhivery Limited (DELHIVERY)?
For today's price to be fair in a discounted-cash-flow model, Delhivery Limited would have to grow free cash flow by +27.8 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.6 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of DELHIVERY use?
Our models discount Delhivery Limited at 10.9 %: a base by market capitalisation (mid), damped by beta 0.19, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Delhivery Limited that is +27.8 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Delhivery Limited (DELHIVERY) delivered so far?
Over the past 5 years revenue at Delhivery Limited grew +23.6 % a year. The price currently implies +27.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Delhivery Limited (DELHIVERY) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Delhivery Limited (+27.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Delhivery Limited (DELHIVERY)?
The free-cash-flow yield on the price is 2.12 %: that much free cash flow Delhivery Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Delhivery Limited (DELHIVERY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Delhivery Limited it is ₹77.88 per share (as of Sep 27, 2026), against a price of ₹422.70. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Delhivery Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, DELHIVERY trades above its calculated fair value: price ₹422.70, fair value ₹77.88, a gap of about −82% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DELHIVERY?
No. The price is what the market pays today (₹422.70); the fair value is what the company's own numbers justify (₹77.88). For Delhivery Limited the two are ₹344.82 per share apart. That gap is exactly why we show both numbers side by side.
How much is Delhivery Limited worth?
The market values Delhivery Limited at about ₹323B (market capitalisation, as of Sep 27, 2026). Per share that is ₹422.70; our models calculate a fair value of ₹77.88 per share.
What is the P/E ratio of DELHIVERY?
Delhivery Limited trades at a price-to-earnings ratio of 211.4 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹77.88 is built from several models across several years. Other multiples: P/B 3.3, P/S 3.1.
How solid is the balance sheet of Delhivery Limited (DELHIVERY)?
Balance-sheet figures for Delhivery Limited (as of Sep 27, 2026): return on equity 1.6%. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is DELHIVERY from its 52-week high?
Delhivery Limited trades at ₹422.70, about 19% below its 52-week high of ₹520.30 and 12% above the low of ₹378.50 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹77.88 is for.
Which stocks are comparable to Delhivery Limited?
From the same area (Industrials) we also value United Parcel Service, Inc, Deutsche Post AG, FedEx Corporation, DSV A/S, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Delhivery Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹422.70, calculated fair value ₹77.88 (−82%), Quality Score 60/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DELHIVERY calculated?
We run Delhivery Limited through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹77.88, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. Delhivery Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Delhivery Limited (DELHIVERY)?
The closing price on Sep 25, 2026 was ₹422.70. Our model-based fair value is ₹77.88, about −82% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Delhivery Limited right now?
The price sits above even our optimistic bull case (₹77.88). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Delhivery Limited
How large is the market capitalisation of Delhivery Limited (DELHIVERY)?
The market capitalisation of Delhivery Limited is ₹323B (≈ $3.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Delhivery Limited (DELHIVERY)?
The price-to-sales ratio of Delhivery Limited is 3.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Delhivery Limited (DELHIVERY)?
Earnings per share at Delhivery Limited are ₹2.00 (price ÷ EPS = P/E 211.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Delhivery Limited (DELHIVERY)?
The net margin of Delhivery Limited is 1.5% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Delhivery Limited (DELHIVERY)?
The return on equity (ROE) of Delhivery Limited is 1.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Delhivery Limited (DELHIVERY)?
On an EBIT basis the return on assets of Delhivery Limited is −5.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Delhivery Limited (DELHIVERY)?
The operating margin of Delhivery Limited is 1.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Delhivery Limited (DELHIVERY)?
Revenue at Delhivery Limited is growing +30.0% versus a year earlier (3y avg +13.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Delhivery Limited (DELHIVERY)?
Earnings per share at Delhivery Limited are growing −0.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Delhivery Limited (DELHIVERY) carry?
The net debt of Delhivery Limited is ₹12.2B (fiscal year 2026, ≈ 1.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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