New Delhi, NFAPost: Delhivery Limited, the largest and fastest-growing fully-integrated logistics provider in India, registered its 63% growth in its revenue at Rs 7,241 crore for the fiscal 2022. The company’s total revenue for the same period last fiscal was Rs 4,450 crore.
According to the company statement, the underlying reported revenue increased by 89% to 6,882 crore in FY22 from 3,647 crore in FY21. The Company also delivered full-year operating profitability with an adjusted EBITDA of Rs. 72* crore and Adjusted Cash Profit After Tax (PAT) of Rs. 212* crore in FY22.
Adjusted cash PAT is arrived at after adjusting FY22 PAT for one-time/ non-recurring expenses and non-cash expenses, including depreciation/ lease expenses, amortization, and ESOP costs. This profitability is a testament to the scale-driven operating leverage of the business.
Express parcel volumes grew by 101%, far outstripping the industry volume growth of ~40%. Simultaneously, the Company has diversified its revenue base – Express parcel service accounted for 58%* of the revenue, and part-truckload (PTL) freight contributed 24%* of FY22 revenue.
During Q4FY22, revenues grew to Rs 2,072* Cr from Rs. 1,279* crore during Q4FY21. Adjusted EBITDA, a measure of operating profitability, has shown consistent improvement QoQ, growing from -3.7%* in Q1 FY22 to 3.7%* and 3.9%* in Q3FY22 and Q4 FY22, respectively. For the full year FY22, the company had an adjusted EBITDA margin of 1.0%.
Delhivery continues to be extremely well-capitalised, with cash and investments of Rs 2,512 crore as of March 31, 2022, further augmented by Rs. 3,846 crore of net IPO proceeds raised in May 2022.
Gurgaon-based logistics and supply chain company Delhivery was founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan, and Kapil Bharati. Sahil Barua is the CEO of Delhivery.
