Overview

Detailed Summary

Blue Dart Express is South Asia’s leading integrated air express carrier and premium logistics services provider, operating scheduled freighter night operations, commercial airline lift, and a large ground fleet to serve 56,400+ locations across India while being part of the Deutsche Post DHL ecosystem.
In Q3 FY2026 Blue Dart reported revenue from operations of INR 16,161 million and profit after tax of INR 700 million, supported by 107.4 million shipments and 374,884 tonnes handled, showing resilient domestic demand with notable contribution from Tier 2 and Tier 3 markets and selective operational investments.
E‑commerce remains a structural growth driver at roughly 30–31% revenue share with surface light‑parcel (B2C light surface) showing very strong shipment and revenue growth; management highlighted ground (surface) share rising, with consolidated ground (incl. B2C) at about 42% of revenue versus air at 53%.
Management signaled continued margin improvement driven by mix shift to light parcels, price actions taken in January, and operational efficiencies from new hubs and fleet. Capex is expected in a steady INR100–150 crore range focused on facility upgrades, replacements and selective expansion while pursuing green and low‑emission infrastructure.

Sector: Transport Services
Industry: Logistics Solution Provider
Market Cap: 12,607 Cr
Volatility: Low Risk
P/E Ratio: 49.3
Industry P/E: 27.1
PEG Ratio: 2.3
P/B Ratio: 7.7
52W High: 7,222.35
52W Low: 5,196.00

Sales CAGR

1Y: 8.59%
3Y: 9.07%
5Y: 12.56%
10Y: 9.38%

Profit CAGR

1Y: -16.14%
3Y: -13.38%
5Y: —
10Y: 2.85%

ROE

TTM: 16.33%
3Y: 22.50%
5Y: 25.28%
10Y: 24.27%

ROCE

TTM: 16.46%
3Y: 22.97%
5Y: 24.26%
10Y: 23.21%

Technicals

‌

Forecasts

Unlock Premium Features

Analyst Target, Price, EPS and Revenue Projections

Peers

Services Services Transport Services Logistics Solution Provider

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
BLUEDART	5266.80	12,607 Cr	49.26	7.73	0.47	16.33	16.46	6.64
TCI	988.75	7,639 Cr	16.99	3.20	0.80	18.16	19.09	14.67
SHADOWFAX	111.55	6,449 Cr	858.08	3.16	0.00	2.54	3.91	0.00
TVSSCS	105.30	4,646 Cr	50.87	2.38	0.00	6.12	8.65	1.51
VRLLOG	260.00	4,531 Cr	19.04	4.14	2.90	21.32	18.94	9.61
MAHLOG	396.20	3,941 Cr	-150.23	3.44	0.46	-3.22	4.14	-0.55
SINDHUTRAD	24.91	3,842 Cr	-177.87	2.34	0.00	-0.94	1.64	-0.55
Median: 7 Co.	260.00	4,646 Cr	19.04	3.20	0.46	6.12	8.65	1.51

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

Ask AI

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	1,324	1,383	1,323	1,343	1,448	1,512	1,417	1,442	1,549	1,616
Expenses	1,102	1,170	1,097	1,141	1,230	1,272	1,204	1,246	1,297	1,335
Operating Profit	223	213	226	202	218	239	213	196	252	281
OPM %	16.82	15.43	17.08	15.06	15.05	15.83	15.04	13.57	16.26	17.38
Other Income	5.23	24	11	9.08	8.67	12	12	9.86	9.59	-33
Interest	20	20	19	21	21	21	20	19	22	24
Depreciation	111	111	113	118	121	121	124	121	131	145
Profit Before Tax	98	108	105	72	85	109	81	66	109	79
Tax %	25.34	17.33	25.88	25.84	25.99	25.86	31.95	25.94	25.54	13.50
Net Profit	73	89	78	53	63	81	55	49	81	68
EPS in Rs	30.79	37.46	32.78	22.51	26.49	34.14	23.24	20.58	34.30	28.79

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	2,690	2,799	3,174	3,175	3,288	4,410	5,172	5,268	5,720	5,819
Expenses	2,348	2,448	2,889	2,701	2,602	3,411	4,235	4,415	4,848	4,953
Operating Profit	342	351	285	474	686	1,000	937	853	873	866
OPM %	12.71	12.55	8.99	14.93	20.87	22.67	18.13	16.19	15.25	14.88
Other Income	26	21	19	-49	-5.55	-5.16	32	51	42	43
Interest	45	41	43	117	111	87	67	78	82	80
Depreciation	104	114	128	347	430	395	394	433	485	488
Profit Before Tax	219	217	134	-39	140	512	508	393	347	341
Tax %	36.18	33.31	33.08	-7.00	27.17	25.39	27.09	23.35	27.31	27.35
Net Profit	140	145	90	-42	102	382	371	301	252	248
EPS in Rs	—	—	37.83	-17.65	42.90	161.08	156.16	126.86	106.38	106.91
Dividend Payout %	25.45	20.50	33.04	0.00	34.96	37.25	19.21	19.71	23.50	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	24	24	24	24	24	24	24	24	24	24
Reserves	358	406	508	554	467	568	848	1,156	1,344	1,535
Borrowings	395	483	406	496	410	1,522	1,066	1,120	1,073	1,007
Other Liabilities	492	486	565	737	1,740	783	891	923	1,021	1,097
Total Liabilities	1,269	1,399	1,503	1,811	2,641	2,897	2,829	3,223	3,461	3,663
Fixed Assets	453	471	518	654	1,665	1,583	1,437	1,437	1,823	1,814
CWIP	21	67	99	91	18	6.68	69	439	74	77
Investments	0.00	0.00	0.00	0.00	0.00	150	207	171	307	386
Other Assets	794	861	885	1,066	958	1,158	1,115	1,176	1,257	1,386
Total Assets	1,269	1,399	1,503	1,811	2,641	2,897	2,829	3,223	3,461	3,663

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	361	225	317	243	364	750	860	717	847	735
Cash from Investing Activity	-149	-228	-190	-280	-193	-529	11	-514	-375	-300
Cash from Financing Activity	-95	-33	-152	79	-340	-235	-772	-291	-401	-434
Net Cash Flow	118	-36	-25	42	-169	-14	99	-89	71	1.71

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	4.85%	4.24%	4.73%	5.29%	5.40%	5.36%	5.45%	5.99%	5.46%	5.53%	5.04%	4.13%
DIIs	9.86%	11.11%	11.76%	11.77%	11.73%	12.65%	12.94%	12.50%	13.03%	13.04%	13.13%	13.61%
Public	10.29%	9.64%	8.50%	7.94%	7.88%	6.99%	6.61%	6.52%	6.50%	6.44%	6.82%	7.25%
Total Shareholders	36,656	36,840	35,019	29,294	34,031	29,994	30,301	30,925	29,904	30,906	34,123	37,308

Market Transactions

Unlock Premium Features

Analyst Target, Price, EPS and Revenue Projections

Projection

Unlock Premium Features

Get In-depth insights on EPS and Revenue forecasts

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Available on Pro Plan