MarketFriction

Blue Dart Express Ltd

NSE BLUEDART · BSE 526612 · Logistics Solution Provider
₹4,496.80 -2.86%
NSE close2026-10-01
52 week range4,523.00 - 7,036.00
Market cap₹10,859 Cr.
P/E33.5
Price band 20% Delivery 19.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,3241,3831,3231,3431,4481,5121,4171,4421,5491,6161,5331,658
Expenses1,1021,1701,0971,1411,2301,2721,2041,2461,2971,3351,3111,396
Operating Profit223213226202218239213196252281222261
OPM %17%15%17%15%15%16%15%14%16%17%14%16%
Other Income524119912121010-331215
Interest202019212121201922242221
Depreciation111111113118121121124121131145140137
Profit before tax98108105728510981661097973119
Tax %25%17%26%26%26%26%32%26%26%14%33%26%
Net Profit738978536381554981684988
EPS in Rs30.7937.4632.7822.5126.4834.1423.2420.5834.3028.8020.5937.29
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,5632,6902,7993,1743,1753,2884,4105,1725,2685,7206,1416,357
Expenses2,1572,3482,4472,8882,7012,6023,4104,2354,4154,8445,1905,340
Operating Profit4063423522864756861,0009388538769511,016
OPM %16%13%13%9%15%21%23%18%16%15%15%16%
Other Income35262019-49-6-5325138-23
Interest43454043117111876778828688
Depreciation102104114128347430395394433485536552
Profit before tax296219217134-39140512508393347327380
Tax %33%36%33%33%7%27%25%27%23%27%24%
Net Profit19714014590-42102382371301252247287
EPS in Rs82.9558.9360.9937.83-17.6442.91161.08156.16126.86106.38104.26120.98
Dividend Payout %36%25%21%33%0%35%37%19%20%24%24%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%13%6%9%
Compounded Profit Growth3%18%-10%31%
Stock Price CAGR-2%-7%-12%-20%
Return on Equity24%25%18%16%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital242424242424242424242424
Reserves2843584065085544675688481,1561,3441,5351,753
Borrowings3323974914185735301,5221,0661,1201,0731,0071,142
Other Liabilities3494864775536611,6207838919231,0211,0971,208
Total Liabilities9881,2651,3971,5031,8112,6412,8972,8293,2233,4613,6634,127
Fixed Assets2164534715186541,6651,5831,4371,4371,8231,8142,035
CWIP252167999118769439747727
Investments2600000150207171307386413
Other Assets7217908608851,0669581,1581,1151,1761,2571,3861,652
Total Assets9881,2651,3971,5031,8112,6412,8972,8293,2233,4613,6634,127
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity153361225317243364750860717847735810
Cash from Investing Activity32-149-228-190-280-193-52911-514-375-300-315
Cash from Financing Activity-126-95-33-15279-340-235-772-291-401-434-424
Net Cash Flow60118-36-2542-169-1499-8971272
Free Cash Flow9425257119-44167590689147585488498
CFO/OP102%116%91%114%113%90%113%100%93%107%94%98%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days474149555661574845465055
Inventory Days
Days Payable
Cash Conversion Cycle474149555661574845465055
Working Capital Days80-18-17-22-37-74-49-23-47-23-35
ROCE %32%48%31%28%17%13%17%31%26%19%16%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs4.73%5.29%5.40%5.37%5.46%5.98%5.46%5.53%5.04%4.14%3.42%3.35%
DIIs11.76%11.76%11.73%12.65%12.94%12.49%13.04%13.04%13.13%13.62%14.54%14.47%
Public8.50%7.94%7.88%6.98%6.60%6.50%6.49%6.44%6.82%7.26%7.04%7.17%
No. of Shareholders35,01929,29434,03129,99430,30130,92529,90430,90634,12337,30835,37537,650

Fundamentals

Market Cap₹ 10,859 Cr.
Current Price₹ 4,576
Stock P/E33.5
Book Value₹ 749
ROCE15.8 %
ROE15.7 %
Dividend Yield0.55 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)31%
Consolidated figures.
Valuation
Market capRs 10,683 Cr
Enterprise valueRs 11,586 Cr
P/E (TTM)37.22x
Price to book6.01x
Price to sales1.68x
EV / EBITDA11.36x
EV / EBIT24.78x
EV / sales1.82x
Price to cash flow13.19x
Earnings yield2.69%
Dividend yield0.56%
P/E, 3-year average50.72x
P/B, 3-year average8.81x
P/E, 5-year average46.92x
P/B, 5-year average11.53x
Profitability
Operating margin (excl. other income)15.48%
Operating margin (incl. other income)15.45%
EBITDA margin16.04%
Pre-tax margin5.98%
Net profit margin4.52%
Net margin, latest quarter5.34%
ROE14.83%
ROCE15.04%
ROA6.35%
ROE, 3-year average18.57%
ROCE, 3-year average17.36%
ROA, 3-year average7.48%
ROE, 5-year average28.81%
ROCE, 5-year average21.76%
ROA, 5-year average9.61%
ROIC (approx.)13.21%
Tax rate24.29%
Other income / net worth-0.12%
Growth
Sales growth (latest year)7.35%
Profit growth (latest year)-1.99%
Sales CAGR, 3 years5.89%
Sales CAGR, 5 years13.31%
Profit CAGR, 3 years-12.60%
Profit CAGR, 5 years19.43%
Sales growth QoQ8.10%
Profit growth QoQ81.15%
Sales growth YoY (latest quarter)14.97%
Profit growth YoY (latest quarter)81.22%
Per share
EPS (TTM)Rs 120.82
EPS (latest year)Rs 104.13
EPS (latest quarter)Rs 37.25
EPS, 3-year averageRs 112.36
EPS, 5-year averageRs 130.82
Book value per shareRs 747.89
Sales per shareRs 2,675.60
Cash flow per shareRs 341.04
Free cash flow per shareRs 209.61
Dividend per share (latest year)Rs 25.00
Dividend per share, 3-year averageRs 25.00
Dividend per share, 5-year averageRs 33.01
Dividends
Dividend payout24.01%
Dividend payout, 3-year average22.43%
Dividend payout, 5-year average24.76%
Efficiency
Asset turnover1.49x
Fixed asset turnover3.02x
Inventory turnover66.87x
Inventory days5 days
Debtor days55 days
Debtors turnover6.69x
Cash conversion cycle55 days
Working capital days-35 days
Leverage
Total debtRs 1,142 Cr
Cash and bankRs 239 Cr
Net debtRs 903 Cr
Debt to equity0.64x
Net debt / EBITDA0.89x
Interest coverage5.33x
Current ratio (filing 2026-03-31)1.10x
Quick ratio (filing 2026-03-31)1.06x
Trade payables (filing 2026-03-31)Rs 755 Cr
Owners' fund to total sources43.06%
Debt to assets27.67%
Cash flow
Cash from Operating Activity (latest year)Rs 810 Cr
Cash from Investing Activity (latest year)Rs -315 Cr
Cash from Financing Activity (latest year)Rs -424 Cr
Net Cash Flow (latest year)Rs 72 Cr
Free cash flow (latest year)Rs 498 Cr
FCFE (approx.: FCF + change in debt)Rs 633 Cr
Cash from ops / profit, 5 years2.56x
Sales to cash flow7.58x
Statement figures
Net sales (TTM)Rs 6,357 Cr
Net sales (latest year)Rs 6,141 Cr
Sales (latest quarter)Rs 1,658 Cr
Operating profit excl. other income (latest year)Rs 951 Cr
Operating profit (latest quarter)Rs 261 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 1,020 Cr
PBDT (TTM)Rs 932 Cr
Profit before tax (TTM)Rs 380 Cr
Tax (latest year)Rs 79 Cr
Net profit (TTM)Rs 287 Cr
Net profit (latest year)Rs 247 Cr
Net profit (latest quarter)Rs 88 Cr
Depreciation (TTM)Rs 552 Cr
Depreciation (latest quarter)Rs 137 Cr
Interest (TTM)Rs 88 Cr
Cost of goods sold (latest year)Rs 3,741 Cr
Total expenditure (latest year)Rs 5,190 Cr
Total income (latest year)Rs 6,139 Cr
Share capitalRs 24 Cr
ReservesRs 1,753 Cr
Shareholders' fundsRs 1,777 Cr
Total assetsRs 4,127 Cr
Net blockRs 2,035 Cr
Capital work in progressRs 27 Cr
InvestmentsRs 413 Cr
ReceivablesRs 918 Cr
InventoryRs 56 Cr
Other liabilitiesRs 1,208 Cr
Shares outstanding (crore)2.38
Ownership
Promoter holding75.00% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 37.2 is at the 1th percentile of its own 8.4-year range (median 55.0, low 36.9, high 174.8).
P/B 6.01 is the lowest in 9.4 years (median 14.25).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodBLUEDARTNifty 50Difference
1 week-6.2%-2.8% -3.4 pts
1 month-11.9%-6.8% -5.1 pts
3 months-7.3%-7.6% +0.3 pts
6 months-5.3%+0.4% -5.7 pts
1 year-22.4%-9.9% -12.5 pts
2 years-45.4%-13.6% -31.8 pts
3 years-32.8%+14.2% -46.9 pts
5 years-30.0%+27.9% -57.8 pts
52 mutual fund schemes hold about ₹1,381 Cr. Over three months 34 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Small Cap Fund1.22%511 +8%
Kotak Small Cap Fund0.97%191 -5%
HDFC Aggressive Hybrid Fund0.57%127 +10%
Canara Rob Large and Mid Cap Fund0.47%122 +8%
HDFC Balanced Advantage Fund0.10%112 +8%
HDFC Retirement Fund-Equity Plan0.70%49 +7%
HDFC Large & Mid Cap Fund0.16%49 +5%
HDFC Manufacturing Fund0.37%39 +5%
HDFC Dividend Yield Fund0.57%32 +11%
HDFC Transportation and Logistics Fund1.16%25 -7%
HDFC Infrastructure Fund1.06%25 +15%
HDFC Multi Asset Allocation Fund0.33%20 +7%
ICICI Pru Retirement Fund-Pure Equity Plan0.70%15 +3%
HDFC Retirement Fund-Hybrid-Equity Plan0.61%10 +10%
Bandhan Multi Asset Allocation Fund0.24%9 +2%
Kotak Transportation & Logistics Fund1.64%9 +3%
Bandhan Transportation and Logistics Fund0.96%7 -2%
LIC MF ELSS Tax Saver Fund0.53%5 +5%
Nippon India Nifty Smallcap 250 Index Fund0.13%5 +5%
ICICI Pru Transportation and Logistics Fund0.09%4 +36%
The Wealth Company Mid Cap Fund1.73%3 +100%
SBI Nifty Smallcap 250 Index Fund0.13%2 +5%
Axis Innovation Fund0.15%2 -4%
Motilal Oswal Nifty Smallcap 250 Index Fund0.13%2 +5%
Nippon India Nifty 500 Equal Weight Index Fund0.20%1 +10%

Red flags

F-score 5 of 8
lookRegulator order or action Regulator order or action 2025-12-31: Blue Dart Express Limited has informed the Exchange about Action(s) taken or orders passed
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹1,658 Cr +15.0% vs Jun 2025. Net profit ₹88 Cr +79.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-15Dividend - Rs 25 Per Share
2025-08-06Dividend - Rs 25 Per Sh
2024-07-12Annual General Meeting/Dividend - Rs 25 Per Share
2023-07-19Annual General Meeting/Dividend - Rs 30 Per Share
2022-07-18Annual General Meeting/Dividend - Rs 35 Per Share
2022-02-08Interim Dividend - Rs 25 Per Share
2021-07-20 Annual General Meeting/Dividend - Rs 15 Per Share
2019-07-22 Annual General Meeting/ Dividend - 12.50 Per Share
2018-07-20 Annual General Meeting / Dividend- Rs 12.50 Per Share
2017-07-18 Annual General Meeting/Dividend-Rs 15/- Per Share
2016-07-19 Annual General Meeting/ Dividend - Rs 25/- Per Share + Special Dividend - Rs 5/- Per Share
2015-07-20Annual General Meeting/Dividend - Rs 20/- Per Share
2014-11-17Scheme Of Arrangement - Issue Of Bonus Debentures
2014-07-14Annual General Meeting/Dividend Rs 15/- Per Share
2014-02-14Interim Dividend - Rs 35/- Per Share
2013-07-12Annual General Meeting And Dividend Rs 71 Per Equity Share
2012-04-13Annual General Meeting And Dividend Rs.2/- Per Share
2011-04-15Annual General Meeting And Dividend Re.1/- Per Share
2010-03-31Agm/Div-Re.1/- Per Share
2009-04-02Agm/Dividend - 10%
2008-04-10Agm/Dividend - 10%
2007-04-05Agm/Dividend-10%
2006-04-18Agm/Dividend-15%
DateTypeWhat it says
2026-10-01Regulatory actionAction(s) initiated or orders passed
2026-09-30Press ReleaseA press release dated September 30, 2026, titled "General Price Increase Effective January 1st, 2027".
2026-09-23ResignationResignation of Director/KMP/SMP
2026-09-23General UpdatesClarification Letter
2026-09-23General UpdatesGeneral Updates
2026-09-23Board meeting outcomeOutcome of Board Meeting held on September 23, 2026.
2026-09-23CessationCessation of Ms Kavita Nair as Independent Director of the company w.e.f. September 25, 2026 on account of completion of her second term of the office...
2026-09-23ResignationResignation of Mr Charles Simon Dobbie as Non- Executive Director of the company w.e.f. September 25, 2026.
2026-09-23Director changeChange in Director(s) of the company.
2026-09-22Shareholder meetingVoting results.
2026-09-22Shareholder meetingProceedings of Annual General Meeting held on September 22, 2026
2026-09-16Press ReleaseA press release dated September 16, 2026, titled "Please find enclosed herewith Press Release being issued by the Company announcing Planned Leadersh...
2026-09-15Director changeChange in Director(s) of the company.
2026-09-15ResignationResignation of Mr. Balfour Manuel as Managing Director of the company w.e.f. close of business hours of November 29, 2026.
2026-09-15ResignationResignation of Director/KMP/SMP
2026-09-15Change in ManagementChange in Management
2026-09-11Record DateRecord date for the purpose of Dividend is 15-Sep-2026.
2026-08-28General UpdatesThe Business Responsibility and Sustainability Report of the Company for the financial year 2025-26, is attached.
2026-08-28General UpdatesGeneral Updates
2026-08-28Shareholder meetingNotice of Annual General Meeting to be held on September 22, 2026
2026-08-11Press ReleaseA press release dated August 11, 2026, titled "Press Release announcing Rakhi Express Offers on Domestic and International Shipments".
2026-08-08Concall / analyst meetTranscript
2026-08-05Concall / analyst meetLink of Recording
2026-08-04Investor PresentationInvestor Presentation
2026-08-01Concall / analyst meetSchedule of meet
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Blue Dart Express Ltd?

Blue Dart Express Ltd (BLUEDART) has a market capitalisation of Rs 10,859 Cr. at the 2026-10-01 close.

What is the P/E ratio of Blue Dart Express Ltd?

Blue Dart Express Ltd trades at a P/E of 33.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Blue Dart Express Ltd's latest quarterly results?

In the Jun 2026 quarter, Blue Dart Express Ltd sales was Rs 1,658 Cr (+15.0% vs Jun 2025) and net profit was Rs 88 Cr.

What is the 52-week high and low of Blue Dart Express Ltd?

The 52-week high is Rs 7,036.00 and the 52-week low is Rs 4,523.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03