Blue Dart Express Limited (BLUEDART)

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Blue Dart Express Limited (BLUEDART) · mywealthgrid

About

Blue Dart Express Limited is a logistics solution provider in transport services, with market capitalization of ₹12,184 Cr and quarterly revenues typically in the ₹1,550–1,660 Cr range. The company maintains consistent profitability across quarters and operates with low financial leverage (D/E 0.11).

Founded: 1983
Face value: ₹10

Market cap

₹10,657 Cr

P/E

37.1×

P/B

6.0×

Dividend yield

0.6%

ROE

14.8%

ROCE

19.1%

Debt / equity

0.11

OPM

15.5%

EPS (TTM)

₹120.8

Book value

₹747.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins highly volatile (8.13% to 17.38%) in recent quarters despite stable revenues (₹1,533–₹1,657 Cr), indicating operational inconsistency
High PE multiple of 42.45 may overestimate growth — verify whether near-term earnings growth justifies this valuation
Stock declined 11.48% over one year despite profitability, suggesting market concerns about growth or execution
Concentrated ownership (75% promoter, 7.18% public float) limits free float and may introduce liquidity risk

Generated analysis · source review pending

Growth drivers

Quarterly revenue increased from ₹1,549.33 Cr (Sep 2025) to ₹1,657.72 Cr (Jun 2026) — verify if this 7% growth over nine months is sustainable
Operating profit of ₹86.68 Cr (Jun 2026) notably higher than ₹43.22 Cr (Mar 2026); verify whether this reflects operational improvements or cyclical patterns
Strong ROE of 14.83% demonstrates efficient capital deployment and reinvestment capacity
Low leverage (D/E 0.11) provides balance-sheet capacity for growth financing — verify management's capex and expansion strategy

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹4,496.8-1.7%1Y

Quick read

rule-based

Pros

+Strong return on equity of 18.6% (3-yr avg)
+High return on capital employed of 20.7%
+Profit CAGR of 19.4% over the last 5 years
+High promoter holding of 75% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

49/100

Business quality: 49
Growth: 48
Valuation: 50

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,563	2,690	2,799	3,174	3,175	3,288	4,410	5,172	5,268	5,720	6,141
COGS	—	—	—	—	1,656	1,578	2,281	2,988	3,032	3,353	3,568
Gross profit	—	—	—	—	1,519	1,710	2,129	2,184	2,236	2,368	2,573
	2,157	2,348	2,448	2,889	1,045	1,024	1,129	1,247	1,383	1,495	1,622
	406	342	351	285	474	686	1,000	937	853	873	951
OPM %	15.9%	12.7%	12.6%	9%	14.9%	20.9%	22.7%	18.1%	16.2%	15.3%	15.5%
Depreciation	102	104	114	128	347	430	395	394	433	485	536
Interest	43	45	41	43	117	111	87	67	78	82	86
	35	26	21	83	-49	-6	-5	32	51	42	-2
Profit before tax	296	219	217	134	-39	140	512	508	393	347	327
Tax	99	79	72	44	3	38	130	138	92	95	79
Tax %	33.5%	36.2%	33.3%	33.1%	7%	27.2%	25.4%	27.1%	23.4%	27.3%	24.3%
	197	140	145	90	-42	102	382	371	301	252	247
PAT margin %	7.7%	5.2%	5.2%	2.8%	-1.3%	3.1%	8.7%	7.2%	5.7%	4.4%	4%
EPS (₹)	83	58.9	—	—	-17.6	42.9	161.1	156.2	126.9	106.4	104.3
EPS adjusted (₹)	82.8	58.9	60.9	37.8	-17.6	42.9	160.9	156	126.7	106.2	104.1
	36.2%	25.4%	—	—	—	35%	37.2%	19.2%	19.7%	23.5%	24%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	24	24	24	24	24	24	24	24	24	24	24
Reserves	275	406	508	—	467	568	848	1,156	1,344	1,535	1,753
Minority interest	12	—	—	—	—	—	—	—	—	—	—
	395	483	406	—	410	595	200	250	255	200	200
	372	486	565	—	1,740	1,710	1,757	1,793	1,839	1,904	2,150
Total equity & liabilities	1,078	1,399	1,503	—	2,641	2,897	2,829	3,223	3,461	3,663	4,127
	439	471	518	654	1,665	1,583	1,437	1,437	1,823	1,814	2,035
CWIP	7	36	59	—	16	4	51	415	73	77	27
Investments	—	—	—	—	0	150	207	171	307	386	413
	632	892	925	—	960	1,160	1,134	1,200	1,258	1,387	1,652
Total assets	1,078	1,399	1,503	0	2,641	2,897	2,829	3,223	3,461	3,663	4,127

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	47.8%	52%	48.3%

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	4.73%	5.29%	5.4%	5.36%	5.45%	5.99%	5.46%	5.53%	5.04%	4.13%	3.42%	3.35%
	11.76%	11.77%	11.73%	12.65%	12.94%	12.5%	13.03%	13.04%	13.13%	13.61%	14.53%	14.47%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	8.51%	7.94%	7.87%	6.99%	6.61%	6.51%	6.51%	6.43%	6.83%	7.26%	7.05%	7.18%
No. of shareholders	—	—	—	—	—	—	—	—	34,123	37,308	35,375	37,650

Promoter holding up 0 percentage points since Sep 2023.

26 deals · 19 Sept 2022 – 30 Oct 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,49,457	₹6,718.80	₹100.42 Cr
30 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,49,457	₹6,724.03	₹100.50 Cr
29 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,19,065	₹6,150.41	₹73.23 Cr
29 Oct 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,19,065	₹6,141.93	₹73.13 Cr
30 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,20,308	₹5,945.05	₹71.52 Cr
30 Sept 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,20,308	₹5,947.96	₹71.56 Cr
25 Oct 2022	ISHARES CORE MSCI EMERGING MARKETS ETF	Block	BSE	Buy	13,807	₹8,429.80	₹11.64 Cr
25 Oct 2022	ISHARES CORE EMERGING MARKETS MAURITIUS CO	Block	BSE	Sell	13,807	₹8,429.80	₹11.64 Cr
25 Oct 2022	ISHARES MSCI INDIA SMALL-CAP ETF	Block	BSE	Buy	1,317	₹8,429.80	₹1.11 Cr
25 Oct 2022	ISHARES INDIA SC MAURITIUS COMPANY	Block	BSE	Sell	1,317	₹8,429.80	₹1.11 Cr

1–10 of 26

1 / 3

Mr. Balfour John ManuelExecutive Director-MD
Ms. Kavita NairNon-Executive - Independent Director
Mr. Subramanian Sivarama RamchandranNon-Executive - Non Independent Director
Mr. Florian Ulrich BumbergerNon-Executive - Non Independent Director
Ms. Vandana AggarwalNon-Executive - Independent Director
Mr. Sebastian PaebensNon-Executive - Non Independent Director
Mr. Charles Simon DobbieNon - Executive Non -Independent Director
Mr. Sagar PatilChief Financial Officer
Mr. Tushar GunderiaHead (Legal & Compliance) & Company Secretary

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 9 fund houses

Held by these funds

2.04%

of the company's equity

All mutual funds

11.79%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

28 schemes · 9 fund houses

		Shares
Portfolio of Kotak Small Cap Fund	Kotak Mahindra Mutual Fund	3.88 L	190.81	0.97%	1.635%	-0
Retirement Fund - Pure Equity Plan	ICICI Prudential Mutual Fund	30,587	15.06	0.7%	0.129%	-0
Portfolio of Kotak Transportation & Logistics Fund	Kotak Mahindra Mutual Fund	18,000	8.86	1.64%	0.076%	-0
MF ELSS TAX SAVER FUND ( Erstwhile LIC MF ELSS Tax Saver )NEW	LIC Mutual Fund	11,087	5.46	0.53%	0.047%	—
Nifty Smallcap 250 Index Fund	Nippon India Mutual Fund	9,429	4.64	0.13%	0.04%	+115
Transportation and Logistics Fund	ICICI Prudential Mutual Fund	7,728	3.81	0.09%	0.033%	+2,000
Nifty Smallcap 250 Index Fund	SBI Mutual Fund	4,792	2.36	0.13%	0.02%	+53
Innovation Fund	Axis Mutual Fund	4,286	2.11	0.15%	0.018%	-0

1–8 of 28

1 / 4

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

As per Attachment24 Mar 2026

Investor Presentation and earnings call

Aug 2026Transcript AI SummaryPPTREC
May 2026Transcript AI Summary PPTREC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

21

Final dividend15 Sept 2026 · ex-date₹25
Final dividend6 Aug 2025 · ex-date₹25
Final dividend12 Jul 2024 · ex-date₹25
Dividend dividend19 Jul 2023 · ex-date₹30
Final dividend18 Jul 2022 · ex-date₹35
Interim dividend8 Feb 2022 · ex-date₹25
Final dividend20 Jul 2021 · ex-date₹15
Dividend dividend22 Jul 2019 · ex-date₹12.5
Dividend dividend20 Jul 2018 · ex-date₹12.5
Dividend dividend18 Jul 2017 · ex-date₹15
Special dividend19 Jul 2016 · ex-date₹5
Dividend dividend19 Jul 2016 · ex-date₹25
Dividend dividend20 Jul 2015 · ex-date₹20
Final dividend14 Jul 2014 · ex-date₹15
Interim dividend14 Feb 2014 · ex-date₹35
Dividend dividend12 Jul 2013 · ex-date₹71
Dividend dividend13 Apr 2012 · ex-date₹2
Dividend dividend15 Apr 2011 · ex-date₹1
Dividend dividend31 Mar 2010 · ex-date₹1
Dividend dividend2 Apr 2009 · ex-date₹1
Dividend dividend10 Apr 2008 · ex-date₹1

1

Board meeting to consider results31 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

31 announcementsExport CSV

1 Oct 2026, 3:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

30 Sept 2026, 5:26 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

22 Sept 2026, 7:44 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

22 Sept 2026, 7:28 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

16 Sept 2026, 6:15 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

15 Sept 2026, 7:30 pmCompany Update

Announcement under Regulation 30 (LODR)-Resignation of Managing Director

Resignation of Managing Director PDF

15 Sept 2026, 7:29 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

15 Sept 2026, 7:28 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

Date	Category	Subject	Filing
1 Oct 2026, 3:01 pm	Company Update Award of Order / Receipt of Order	Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order	PDF
30 Sept 2026, 5:26 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	47.8%	52%	48.3%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Container Corporation Of India LimitedCONCORCONCOR	₹33,663 Cr	₹33,687 Cr	₹9,085 Cr	₹1,962 Cr	21.5%	₹1,242 Cr	13.7%	12.5%	9.8%	10
Delhivery LimitedDELHIVERYDELHIVERY	₹29,952 Cr	₹29,955 Cr	₹11,145 Cr	₹633 Cr	6.1%	₹94 Cr	1.5%	2.8%	1.6%	7
Shadowfax Technologies LimitedSHADOWFAXSHADOWFAX	₹15,982 Cr	₹15,982 Cr	₹4,202 Cr	₹212 Cr	5%	₹112 Cr	2.7%	9.6%	10.4%	10
Blue Dart Express LimitedBLUEDARTBLUEDART	₹10,657 Cr	₹10,857 Cr	₹6,357 Cr	₹1,016 Cr	15.5%	₹287 Cr	4%	19.1%	14.8%	-17
Shiprocket LimitedSHIPROCKETSHIPROCKET	₹8,730 Cr	₹8,972 Cr	₹2,024 Cr	₹-67 Cr	-3.3%	₹-79 Cr	-3.9%	-3.1%	-5.4%	—
Transport Corporation Of India LimitedTCITCI	₹6,727 Cr	₹6,946 Cr	₹5,026 Cr	₹531 Cr	10.5%	₹460 Cr	9.4%	16.5%	19.5%	40
Tvs Supply Chain Solutions LimitedTVSSCSTVSSCS	₹5,666 Cr	₹6,776 Cr	₹11,746 Cr	₹830 Cr	7.1%	₹65 Cr	1.1%	7.9%	6%	-169
Vrl Logistics LimitedVRLLOGVRLLOG	₹4,986 Cr	₹5,441 Cr	₹3,356 Cr	₹685 Cr	20.2%	₹267 Cr	7.4%	18.8%	21.3%	12
Afcom Holdings LtdAFCOMAFCOM	₹4,251 Cr	₹4,314 Cr	₹583 Cr	₹234 Cr	40.1%	₹122 Cr	20.9%	36.7%	36%	73
Mahindra Logistics LimitedMAHLOGMAHLOG	₹4,131 Cr	₹4,174 Cr	₹7,378 Cr	₹416 Cr	5.4%	₹38 Cr	0.2%	8%	0.3%	-26
Gateway Distriparks LimitedGATEWAYGATEWAY	₹2,592 Cr	₹2,884 Cr	₹2,211 Cr	₹478 Cr	21.7%	₹244 Cr	11.7%	11.2%	11.4%	-278
Tci Express LimitedTCIEXPTCIEXP	₹1,938 Cr	₹1,971 Cr	₹1,264 Cr	₹129 Cr	10.1%	₹82 Cr	6.6%	13.7%	10.3%	44

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	364	750	860	717	847	735	810
	-193	-529	11	-514	-375	-300	-315
	-340	-235	-772	-291	-401	-434	-424
Net cash flow	-169	-14	99	-89	71	2	72
Free cash flow	165	590	860	145	579	481	496
CFO / Operating profit %	76.8%	109.3%	86%	76.5%	99.3%	84.3%	85.2%

Leverage
Current ratio	—	0.76	0.84	0.85	1.03	0.91	1.19	1.1

Return ratios
Return on assets %	—	-1.6%	3.5%	13.5%	11.5%	8.7%	6.9%	6%

Blue Dart Express Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

21

1

Announcements

Not in the F&O segment

21

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Working capital
Receivable days	—	61	57	48	45	46	50	55

Blue Dart Express Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Dividends21

Board meetings1

Announcements

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Ratio timeline

Dividends21

Board meetings1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

21

1

21

1