Continued pricing pressure from loss-making competitors
Competitors may continue aggressive pricing to sustain volumes, delaying industry consolidation and pressuring Delhivery's margins.
DELHIVERY / Q3-FY25 / risks
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Delhivery · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Muted e-commerce volume growth
Overall e-commerce industry growth has moderated, with express parcel volumes growing only 2.4% YoY, limiting operating leverage.
In-sourcing by large marketplaces
Marketplaces like Meesho have in-sourced volumes to their own logistics arms, reducing the addressable market for third-party players.
Fleet cost inflation during peak season
Unexpected spike in intracity fleet costs during the festive season impacted Q3 margins by INR 12-15 crore, highlighting operational vulnerability.