Blue Dart Express Ltd logo

Blue Dart Express Ltd

BLUEDART NSE

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]

AI Verdict: HOLD Confidence: 5%

Blue Dart Express trades at a premium PE of 46.7x with declining stock returns (-20% in 1 year) despite moderate sales growth of 7% TTM. Strong ROE track record of 18% over 3 years and dominant market position justify a hold, but current valuation leaves limited margin of safety.

Key Fundamentals

MicrocapLogistics Solution ProviderLogistics & Cargo
Market Cap
₹11,904 Cr
Volatility
Moderate
P/E Ratio
47.78
EBITDA
₹907 Cr
Return on Equity
22.02%
Debt to Equity
0.71
Book Value
₹748.76
EPS
₹123.54
52W High
₹7,080
52W Low
₹4,628.5

Technical Indicators

Key Insights

Strengths

2
  • Company has a good return on equity (ROE) track record: 3 Years ROE 18.3%
  • Company has been maintaining a healthy dividend payout of 22.4%

Growth Rate

Revenue Growth
6.57% ↗
Net Income Growth
-2.68% ↗
Cash Flow Change
-13.18% ↘
ROE
-26.48% ↗
ROCE
-23.35% ↘
EBITDA Margin (Avg.)
-7.62% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Blue Dart Express trades at a premium PE of 46.7x with declining stock returns (-20% in 1 year) despite moderate sales growth of 7% TTM. Strong ROE track record of 18% over 3 years and dominant market position justify a hold, but current valuation leaves limited margin of safety.

Bull Case 7
  • Strong 3-year ROE of 18% and 5-year ROE of 25% demonstrate consistent capital efficiency and competitive moat in express logistics
  • Compounded sales growth of 13% over 5 years reflects structural tailwinds from e-commerce penetration in India
  • TTM profit growth of 18% shows earnings recovery momentum after a period of margin compression
  • 83.33% of analysts (5 out of 6) rate the stock a Buy, indicating strong institutional conviction
  • Healthy dividend payout of 22.4% with 0.51% yield provides income floor for investors in a capital-intensive sector
  • 10-year compounded sales CAGR of 9% demonstrates long-term revenue durability through multiple economic cycles
  • 5-year compounded profit growth of 19% outpaces sales growth of 13%, indicating operating leverage in the business model
Bear Case 8
  • Stock has delivered -20% returns over 1 year and -12% CAGR over 3 years, severely underperforming broader markets
  • PE of 46.7x is extremely elevated for a logistics company with only 7% TTM sales growth, implying a PEG ratio above 6x
  • Price-to-book of 6.5x leaves no valuation cushion and prices in significant future growth that may not materialize
  • 3-year compounded profit CAGR of -8% indicates earnings have actually declined over the medium term despite revenue growth
  • 10-year stock CAGR of -2% means long-term shareholders have destroyed wealth on a real-return basis after adjusting for inflation
  • Last year ROE dropped to 17% from the 5-year average of 25%, signaling potential structural margin deterioration
  • Market cap of Rs 11,612 crore with 10-year profit CAGR of only 4% suggests the stock is priced for a growth trajectory it has not delivered
  • Only 6 analysts cover the stock, indicating limited institutional research depth and potential liquidity concerns for large positions

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 3
  • DHL confirms 75% promoter stake Jun 17

    DHL Express confirmed it holds 75% stake in Blue Dart Express with no encumbrance on shares for FY26, indicating stable promoter holding.

  • XBRL filing re-submitted unaudited Jun 2

    Blue Dart re-submitted Q4FY26 results as unaudited following an NSE observation. Financial data remains unchanged.

  • IEPF share transfer deadline set May 28

    Shares with unclaimed dividends for seven years will be transferred to IEPF. Investors must claim unpaid dividends from 2018-2019 by September 6, 2026.

TL;DR: No material headwinds or positive catalysts emerged in the recent news flow for Blue Dart. All three developments are routine corporate governance and compliance updates — stable 75% promoter holding, a minor filing correction, and a standard IEPF transfer notice. The absence of operational or financial news suggests a quiet period; investors should watch for upcoming audited results and volume/pricing trends in the logistics sector for directional cues.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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
PBT
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
34.3
28.8
20.59
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
PBT
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
156
127
106
104
Div. Payout %
294%
36%
25%
21%
33%
0%
35%
37%
19%
20%
24%
24%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
153
361
225
317
243
364
750
860
717
847
735
810
Investing
32
-149
-228
-190
-280
-193
-529
11
-514
-375
-300
-315
Financing
-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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
47
41
49
55
56
61
57
48
45
46
50
55
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%

Shareholding Pattern

As of Mar 2026
Promoters 75.00%
DIIs 14.53%
Public 4.22%
FIIs 3.42%
Others 2.82%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
5.40%
5.36%
5.45%
5.99%
5.46%
5.53%
5.04%
4.13%
3.42%
DIIs
11.24%
10.12%
9.55%
9.15%
9.24%
9.28%
7.63%
8.45%
9.69%
10.82%
11.57%
11.60%
11.73%
12.65%
12.94%
12.50%
13.03%
13.04%
13.13%
13.61%
14.53%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
6.61%
7.43%
7.64%
7.89%
7.86%
7.21%
7.27%
7.36%
6.69%
6.21%
5.27%
4.77%
4.62%
4.03%
3.76%
3.69%
3.69%
3.65%
3.99%
4.43%
4.22%
Others
7.15%
7.45%
7.80%
7.96%
7.90%
8.50%
10.09%
9.18%
8.63%
7.97%
8.16%
8.64%
3.26%
2.95%
2.85%
2.82%
2.81%
2.78%
2.83%
2.82%
2.82%
No. of Shareholders
22,220
33,548
32,450
30,608
29,768
29,449
34,404
36,628
36,656
36,840
35,019
29,294
34,031
29,994
30,301
30,925
29,904
30,906
34,123
37,308
35,375

Documents

1
Concall - Jun 2017 Jun 2017
2
Concall - Sep 2017 Sep 2017
3
Concall - Nov 2017 Nov 2017
4
Concall - Aug 2018 Aug 2018
5
Concall - Jan 2019 Jan 2019

Frequently Asked Questions about Blue Dart Express Ltd

What does Blue Dart Express Ltd do?
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 distrib...
Where is Blue Dart Express Ltd (BLUEDART) listed?
Blue Dart Express Ltd is listed on the Indian stock exchanges. It is listed on NSE: BLUEDART and BSE: 526612. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Blue Dart Express Ltd belong to?
Blue Dart Express Ltd operates in the Services sector within the Transport Services industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Blue Dart Express Ltd?
Blue Dart Express Ltd has a market capitalisation of approximately ₹11903.83 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Blue Dart Express Ltd?
The Price-to-Earnings (PE) ratio of Blue Dart Express Ltd is 47.78. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Blue Dart Express Ltd?
Over the past 52 weeks, Blue Dart Express Ltd has traded between a low of ₹4,628.5 and a high of ₹7,080. This range helps investors understand the stock's price volatility and recent trading levels.
Does Blue Dart Express Ltd pay dividends?
Yes, Blue Dart Express Ltd has a dividend yield of 0.50%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Blue Dart Express Ltd?
Blue Dart Express Ltd has a Return on Equity (ROE) of 22.02%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Blue Dart Express Ltd on Tapetide?
On Tapetide, you can view Blue Dart Express Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website bluedart.com
CEO Mr. Balfour Manuel
Employees 12,703
Listed 2002-12-12
Face Value ₹ 10
Issued Size 2,37,27,934

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