Delhivery · Analyst questions, management answers, and the quality of the response where the ledger is available.
ConCallIQ research layer
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Questions audited
12
Answered directly
92%
Numeric claims
8
Consistency
contradicted
Question ledger
Sachin Salgaonkar · Bank of America
directIf you look at the Service EBITDA margins for the express business, Q2 has come in at 15.1% versus 18.2% in Q1. But if you look at the previous financial year, Q1 to Q2 was 18.1% versus 16.8%. So there is typically a decline in the Service EBITDA margins in Q2 in the express business.
Sachin Salgaonkar · Bank of America
partialI think a large bulk of that has already been experienced in terms of the growth of Valmo... I think outsourcing has a relatively smaller sort of impact this year as compared to what it did last year. I think broadly on e-commerce, as we see it, there is an overhang from just consumption being softer overall.
Aditya Bhartia · Investec India
directThe Diwali comes in on the 26th of September overall, which is why a bulk of the growth that we see in volumes is sitting in October and not in the previous quarter. Q2 has generally been fairly flattish as compared to Q1. The real growth really comes in in Q3.
Gaurav Rateria · Morgan Stanley
directThe PTL shares the network with express and heavy as well. When capacity is expanded for the network, capacity is expanded overall for the entire network as a whole. And so PTL has to bear some of the costs of expanding the network for express and heavy.
Gaurav Rateria · Morgan Stanley
directOn express margins, year on year, the largest impact is fundamentally because of the capacity expansion for the peak period. There's also one smaller factor... airlines had introduced a specific surcharge in the period of September and October for air freight.
Gaurav Rateria · Morgan Stanley
directDelhivery is the lowest cost player in this space, and our Delhivery outcomes are better. Having Delhivery as a strong third strategic partner is in the interest of every platform. It's not inimical to the interests of any of the three marketplaces.
Gaurav Rateria · Morgan Stanley
directI think that would certainly be the case. In any case, corporate overhead is something, if you look at it, we've remained stable for nearly two years. We will continue to exercise the same judiciousness on corporate overheads.
Achal Lohade · Nuvama Wealth
directOne was in a supply chain services business where we took inventory adjustment of about INR 10 crore. The other part is the 21 crore reversal on account of oxygen concentrators that we had purchased during the COVID time.
Achal Lohade · Nuvama Wealth
directCapEx for H1 would have come in at close to about 6.6% of revenue. We expect the entire year to come in at broadly about 6.5% to 6.6%, 6.7%. We should be in the sub-6% range for FY26 on the CapEx.
Achal Lohade · Nuvama Wealth
partialOur SME business volumes year on year are up nearly 50%. And the D2C business will be up close to nearly about 20% on volume.
Jainam Shah · Accenture
directThe difference between us and other players in this industry is our appetite for growth. We've grown 27% year on year in revenue terms. Were we to absolutely constrain the PTL network... reflecting the margins would not necessarily be very difficult.
Sachin Dixit · JM Financial
directThe incremental sort of investments that we have made from a capacity standpoint have been indexed more to the growth of the PTL business and to some extent the growth of our volumes in heavies. Actually speaking, the incremental investments on the parcel side have been very small.
