Equirus has initiated a ‘Long Call’ on Delhivery, setting a target price of ₹459 per share, implying a 17% upside from the current market price (CMP) of ₹391.90.
The brokerage projects a 14% revenue CAGR for Delhivery over FY24-FY27, with EBITDA margins expected to expand to 8.6% by FY27. The growth is expected to be driven by operating leverage and an improvement in B2B partial truckload margins.
Equirus highlighted Delhivery’s rapid growth and noted that it is likely to sustain premium valuations over traditional logistics players, given its robust operating performance and scalability.
Disclaimer: The above is for informational purposes only. Please consult a financial advisor before making any investment decisions.