Buy Delhivery, target price Rs 500: ICICI Direct

ICICI Direct has buy call on Delhivery with a target price of Rs 500. The current market price of Delhiver is Rs 399.25. Time period given by analyst is a year when Delhivery price can reach defined target.

Delhivery, incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 29104.88 Crore) operating in Logistics sector.

Delhivery key Products/Revenue Segments include Sale of services and Traded Goods for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1934.22 Crore, up .84 % from last quarter Total Income of Rs 1918.11 Crore and down -9.06 % from last year same quarter Total Income of Rs 2127.02 Crore. Company has reported net profit after tax of Rs -159.44 Crore in latest quarter.

Investment Rationale
Delhivery has shown strong growth and built a recognisable brand ina segment marred by intense competition and low barriers to entry.

Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2023, while FIIs owned 67.63 per cent, DIIs 13.03 per cent.