Blue Dart Express Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹9,897 Cr
- P/E
- 30.53
- ROE
- 15.69%
- PEG
- -3.08
- Price to sales
- 1.55
- Debt to equity
- 0.64
- 52W high / low
- ₹6,694 / ₹4,171
- Sales growth (5Y)
- 13.31%
- EBITDA margin
- 15.99%
- Net profit margin
- 4.26%
- Promoter holding
- 75.00%
- Sales (last year)
- ₹6,357 Cr
Blue Dart Express Limited, incorporated in 1988, is involved in transportation and door-to-door distribution of time-sensitive shipments, through an integrated ground and air transportation network. The company is regarded as South Asia’s leading courier and integrated air express package distribution company. [1]
Guidance scorecard · Q1 FY27 call
What Blue Dart Express Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
10–20%- Blue Dart expects volume growth driven by improvements in the economy and better market share gains rather than major expansion plans.
- The company anticipates higher volumes in the second half of the year due to seasonality but aims to optimize resource utilization to maintain profitability.
- E-commerce, especially surface e-commerce, continues to be the fastest growing segment and remains a key growth driver.
- Surface B2B has shown strong growth (~14%) and is contributing to overall volume increase.
- Air segment growth in tonnage is limited; growth is reflecting more in yield/pricing improvements.
- Volume growth in air is around 2.5%-2.6%, ground around 9%, overall about 7% in the recent quarter.
2 more points from Blue Dart Express Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY27 call
FlatSee what Blue Dart Express Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Annualized capex for the standalone entity is expected to remain between INR 100 crores to INR 150 crores.
- Capex primarily includes operating capex focused on replacement and minor expansions, as the country network is largely established.
- Aviation business capex mainly covers maintenance and engine cycles, which can vary significantly depending on schedules.
- Plans include consolidating and expanding some major hubs, particularly in South India around Bangalore, Chennai, and in Mumbai, though these are likely medium-term initiatives.
2 more points from Blue Dart Express Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ1 FY27 call
None plannedSee what Blue Dart Express Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Ask what Blue Dart Express Ltd said on the order book →
Full Q1 FY27 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | 40%+ | Flat | ₹16,984 Cr | 98.6 | |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
Sign up free to see every company in the sector ranking and track Blue Dart Express Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of Blue Dart Express Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Blue Dart Express Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,217 | 1,238 | 1,324 | 1,383 | 1,323 | 1,343 | 1,448 | 1,512 | 1,417 | 1,442 | 1,549 | 1,616 | 1,533 |
| Expenses + | 1,017 | 1,047 | 1,102 | 1,170 | 1,097 | 1,141 | 1,230 | 1,272 | 1,204 | 1,246 | 1,297 | 1,335 | 1,311 |
| Operating Profit | 199 | 191 | 223 | 213 | 226 | 202 | 218 | 239 | 213 | 196 | 252 | 281 | 222 |
| OPM % | 16% | 15% | 17% | 15% | 17% | 15% | 15% | 16% | 15% | 14% | 16% | 17% | 14% |
| Other Income + | 9 | 10 | 5 | 24 | 11 | 9 | 9 | 12 | 12 | 10 | 10 | -33 | 12 |
| Interest | 15 | 19 | 20 | 20 | 19 | 21 | 21 | 21 | 20 | 19 | 22 | 24 | 22 |
| Depreciation | 96 | 99 | 111 | 111 | 113 | 118 | 121 | 121 | 124 | 121 | 131 | 145 | 140 |
| Profit before tax | 97 | 82 | 98 | 108 | 105 | 72 | 85 | 109 | 81 | 66 | 109 | 79 | 73 |
| Tax % | 28% | 26% | 25% | 17% | 26% | 26% | 26% | 26% | 32% | 26% | 26% | 14% | 33% |
| Net Profit + | 69 | 61 | 73 | 89 | 78 | 53 | 63 | 81 | 55 | 49 | 81 | 68 | 49 |
| EPS in Rs | 29.27 | 25.83 | 30.79 | 37.46 | 32.78 | 22.51 | 26.48 | 34.14 | 23.24 | 20.58 | 34.30 | 28.80 | 20.59 |
Financials of Blue Dart Express Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2,272 | 2,563 | 2,690 | 2,799 | 3,174 | 3,175 | 3,288 | 4,410 | 5,172 | 5,268 | 5,720 | 6,141 |
| Expenses + | 2,048 | 2,157 | 2,348 | 2,447 | 2,888 | 2,701 | 2,602 | 3,410 | 4,235 | 4,415 | 4,844 | 5,190 |
| Operating Profit | 224 | 406 | 342 | 352 | 286 | 475 | 686 | 1,000 | 938 | 853 | 876 | 951 |
| OPM % | 10% | 16% | 13% | 13% | 9% | 15% | 21% | 23% | 18% | 16% | 15% | 15% |
| Other Income + | 25 | 35 | 26 | 20 | 19 | -49 | -6 | -5 | 32 | 51 | 38 | -2 |
| Interest | 11 | 43 | 45 | 40 | 43 | 117 | 111 | 87 | 67 | 78 | 82 | 86 |
| Depreciation | 44 | 102 | 104 | 114 | 128 | 347 | 430 | 395 | 394 | 433 | 485 | 536 |
| Profit before tax | 194 | 296 | 219 | 217 | 134 | -39 | 140 | 512 | 508 | 393 | 347 | 327 |
| Tax % | 34% | 33% | 36% | 33% | 33% | 7% | 27% | 25% | 27% | 23% | 27% | 24% |
| Net Profit + | 129 | 197 | 140 | 145 | 90 | -42 | 102 | 382 | 371 | 301 | 252 | 247 |
| EPS in Rs | 54.51 | 82.95 | 58.93 | 60.99 | 37.83 | -17.64 | 42.91 | 161.08 | 156.16 | 126.86 | 106.38 | 104.26 |
| Dividend Payout % | 294% | 36% | 25% | 21% | 33% | 0% | 35% | 37% | 19% | 20% | 24% | 24% |
Financials of Blue Dart Express Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | 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 | 24 |
| Reserves | 284 | 358 | 406 | 508 | 554 | 467 | 568 | 848 | 1,156 | 1,344 | 1,535 | 1,753 |
| Borrowings + | 332 | 397 | 491 | 418 | 573 | 530 | 1,522 | 1,066 | 1,120 | 1,073 | 1,007 | 1,142 |
| Other Liabilities + | 349 | 486 | 477 | 553 | 661 | 1,620 | 783 | 891 | 923 | 1,021 | 1,097 | 1,208 |
| Total Liabilities | 988 | 1,265 | 1,397 | 1,503 | 1,811 | 2,641 | 2,897 | 2,829 | 3,223 | 3,461 | 3,663 | 4,127 |
| Fixed Assets + | 216 | 453 | 471 | 518 | 654 | 1,665 | 1,583 | 1,437 | 1,437 | 1,823 | 1,814 | 2,035 |
| CWIP | 25 | 21 | 67 | 99 | 91 | 18 | 7 | 69 | 439 | 74 | 77 | 27 |
| Investments | 26 | 0 | 0 | 0 | 0 | 0 | 150 | 207 | 171 | 307 | 386 | 413 |
| Other Assets + | 721 | 790 | 860 | 885 | 1,066 | 958 | 1,158 | 1,115 | 1,176 | 1,257 | 1,386 | 1,652 |
| Total Assets | 988 | 1,265 | 1,397 | 1,503 | 1,811 | 2,641 | 2,897 | 2,829 | 3,223 | 3,461 | 3,663 | 4,127 |
Financials of Blue Dart Express Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 153 | 361 | 225 | 317 | 243 | 364 | 750 | 860 | 717 | 847 | 735 | 810 |
| Cash from Investing Activity + | 32 | -149 | -228 | -190 | -280 | -193 | -529 | 11 | -514 | -375 | -300 | -315 |
| Cash from Financing Activity + | -126 | -95 | -33 | -152 | 79 | -340 | -235 | -772 | -291 | -401 | -434 | -424 |
| Net Cash Flow | 60 | 118 | -36 | -25 | 42 | -169 | -14 | 99 | -89 | 71 | 2 | 72 |
| Free Cash Flow | 94 | 252 | 57 | 119 | -44 | 167 | 590 | 689 | 147 | 585 | 488 | 498 |
| CFO/OP | 102% | 116% | 91% | 114% | 113% | 90% | 113% | 100% | 93% | 107% | 94% | 98% |
Financials of Blue Dart Express Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 47 | 41 | 49 | 55 | 56 | 61 | 57 | 48 | 45 | 46 | 50 | 55 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 47 | 41 | 49 | 55 | 56 | 61 | 57 | 48 | 45 | 46 | 50 | 55 |
| Working Capital Days | 8 | 0 | -18 | -17 | -22 | -37 | -74 | -49 | -23 | -47 | -23 | -11 |
| ROCE % | 32% | 48% | 31% | 28% | 17% | 13% | 17% | 31% | 26% | 19% | 16% | 17% |
Guidance history
How Blue Dart Express Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | None planned | — |
| Q4 FY26 call → | 0–10% | Flat | None planned | None planned | — |
| Q3 FY26 call → | 0–10% | Up 0–2% | Planned | — | — |
| Q2 FY26 call → | 0–10% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
8 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −37.7% | 15% |
| Last 6 months | −23.7% | 15% |
| Last 3 months | −19.2% | 24% |
The price is 54.5% below its all-time high of ₹9,164.6 (7 Oct 2022). Stocks more than 20% below their peak have their score halved, so 17 became 8.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Blue Dart Express Ltd: 0.4 × 15 + 0.4 × 15 + 0.2 × 24 = 17, halved to 8 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Blue Dart Express Ltd's management said in earlier quarters
Others in Transport Services this season
- Delhivery Ltd (Q2 FY27)
Q2FY27 Revenue from services: ₹3,066 Cr, up 19.8% YoY (Page 4, 11) . Key investor presentation takeaways from Delhivery Ltd's Q2 FY27 investor presentation — an
- Globe International Carriers Ltd (Q2 FY27)
Consolidated revenue from operations for Q1 FY27: ₹37.18 Cr, a 5.0% year-on-year (YoY) increase from ₹35.40 Cr in Q1 FY26. Key investor presentation takeaways f
- Interglobe Aviation Ltd (Q2 FY27)
Total revenue for Q2 FY27 was INR 243,119 million, up 24.0% YoY from INR 195,995 million in Q2 FY26. Key investor presentation takeaways from Interglobe Aviatio
- Shadowfax Technologies Ltd (Q2 FY27)
Revenue from Operations: ₹1,538 Cr, up 56.6% YoY (Page 12) . Key investor presentation takeaways from Shadowfax Technologies Ltd's Q2 FY27 investor presentation