{"id":141304,"date":"2023-02-13T09:33:06","date_gmt":"2023-02-13T14:33:06","guid":{"rendered":"https:\/\/44.250.171.167\/?p=141304"},"modified":"2023-02-13T09:33:08","modified_gmt":"2023-02-13T14:33:08","slug":"delhivery-ltd-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/delhivery-ltd-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Delhivery Ltd Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Delhivery Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/DELHIVERY\/\">DELHIVERY<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:19:00] Sachin Salgaonkar with BofA asked about the drivers of 6% QoQ shipment growth in 3Q. Sahil Barua MD said this year&#8217;s sales were atypical due to the sale impact coming2Q instead of 3Q. DELHIVERY saw 170 million shipments odd in 3Q and the momentum going into 4Q has been similar with an increased share of wallet with customers.<\/li>\n<\/ul>\n<ul>\n<li>[00:20:05] Sachin Salgaonkar with BofA also asked about the shipment outlook for FY23. Sahil Barua MD said DELHIVERY expects e-commerce shipment volumes to grow in the range of 15-20%, though there is potential for higher growth rates depending on how individual players react.<\/li>\n<\/ul>\n<ul>\n<li>[00:23:53] Sachin Salgaonkar with BofA queried about thoughts on competition on both PTL and Express. Sahil Barua MD answered that In the PTL space in India, there is significant headroom for growth without any of them trying to compete with each other. In the e-commerce space, even if it were to stay flat, DELHIVERY\u2019s strategy and financials will not change, and they are likely to gain share.<\/li>\n<\/ul>\n<ul>\n<li>[00:25:58] Hitesh Goel of CLSA asked about the unit economics of PTL and strategy. Sahil Barua MD said DELHIVERY\u2019s strategy in PTL is to be the most cost-efficient player, and its pricing strategy may differ from Express. The unit economics of PTL are simple, with pickup and delivery, linehaul, and manpower costs all contributing to a GM opportunity of 25-30% and EBITDA margins of 14-20%.<\/li>\n<\/ul>\n<ul>\n<li>[00:30:02] Gaurav Rateria at Morgan Stanley asked about lower services EBITDA margins vs. FY22 on similar revenue. Sahil Barua MD answered the reason for change is as a larger proportion of the trucking now is done on 46 foot container trucks vs. last year when it was much smaller.<\/li>\n<\/ul>\n<ul>\n<li>[00:38:02] Aditya from Macquarie asked about the Express Parcel volume mix vs. a year ago and its outlook. Sahil Barua MD replied the company does not disclose its Express Parcel volume mix by customer, but it\u2019s highly satisfactory. DELHIVERY is not heavily dependent on any single customer. The company has a high share of wallet with all marketplaces and independent players and are usually the partner of choice.<\/li>\n<\/ul>\n<ul>\n<li>[00:39:56] Aditya from Macquarie asked how has the recent uptick PTL volumes improved service margins in Jan. Sahil Barua MD replied that the company can&#8217;t comment on margins for Jan. Operating leverage has played out in the business over the last two quarters and should continue as long as volumes remain high. The exact margin may vary depending on where the volume is coming from, but the trend of operating leverage should continue.<\/li>\n<\/ul>\n<ul>\n<li>[00:44:02] Sohan Joshi asked when the revenue will get started reflecting in P&amp;L from Transition Robotics. \u00a0Sahil Barua MD said that Transition Robotics has developed a fixed wing aircraft capable of delivering a 4 kg payload over 40 kilometers. DELHIVERY has been testing their technology in India with the approval of national and local regulators. The company is evaluating other revenue streams for its IP and looking at other markets to monetize it.<\/li>\n<\/ul>\n<ul>\n<li>[00:54:12] Aditya Mongia asked about business mix. Amit Agarwal CFO said that in cross border business there has been a been a decline from INR96 crores of revenue to about INR66 crores. This business has a significantly high proportion of line haul cost as a percentage of revenue, which has led to reduction.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Delhivery Ltd (DELHIVERY) Q3 FY23 Earnings Concall Q&amp;A Highlights: [00:19:00] Sachin Salgaonkar with BofA asked about the drivers of 6% QoQ shipment growth in 3Q. Sahil Barua MD said this year&#8217;s sales were atypical due to the sale impact coming2Q instead of 3Q. DELHIVERY saw 170 million shipments odd in 3Q and [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Delhivery Ltd Q3 FY23 Earnings Conference Call Insights #DELHIVERY #Q3 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,12],"tags":[8811,10169,8159],"class_list":["post-141304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-other-industries","tag-delivery-services","tag-earnings","tag-logistics"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":132709,"url":"https:\/\/alphastreet.com\/india\/delhivery-ltd-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":141304,"position":0},"title":"Delhivery Ltd Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"August 10, 2022","format":false,"excerpt":"https:\/\/youtu.be\/0-6Gx-4L8xU Key highlights from Delhivery Ltd (DELHIVERY) Q1 FY23 Earnings Concall Q&A Highlights: Abhishek Pathak of HSBC asked about the sequential pressure in global e-com volumes and if the company is seeing anything similar in the India e-com space over the short term. Sahil Barua CEO replied that the company\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":141017,"url":"https:\/\/alphastreet.com\/india\/delhivery-ltd-delhivery-q3-fy23-earnings-concall-transcript-2\/","url_meta":{"origin":141304,"position":1},"title":"Delhivery Ltd (DELHIVERY) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 11, 2023","format":false,"excerpt":"Delhivery Ltd (NSE: DELHIVERY) Q3 FY23 Earnings Concall dated Feb. 11, 2023 Corporate Participants: Sahil Barua\u00a0--\u00a0Managing Director and Chief Executive Officer Amit Agarwal\u00a0--\u00a0Chief Financial Officer Analysts: Vijit Jain\u00a0--\u00a0Citigroup Inc. -- Analyst Sachin Salgaonkar\u00a0--\u00a0BofA Securities -- Analyst Hitesh Goel\u00a0--\u00a0CLSA Limited -- Analyst Gaurav Rateria\u00a0--\u00a0Morgan Stanley -- Analyst Mukesh Saraf\u00a0--\u00a0Spark Capital Advisors\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":141007,"url":"https:\/\/alphastreet.com\/india\/delhivery-ltd-delhivery-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":141304,"position":2},"title":"Delhivery Ltd (DELHIVERY) Q3 FY23 Earnings Concall Transcript","author":"Sahil","date":"February 12, 2023","format":false,"excerpt":"Delhivery Ltd\u00a0 (NSE:DELHIVERY) Q3 FY23 Earnings Conference Call dated Feb. 11, 2023 Corporate Participants: Amit Agarwal -- Chief Financial Officer Sahil Barua -- Managing Director and Chief Executive Officer Analysts: Vijit Jain -- Citigroup Inc. -- Analyst Sachin Salgaonkar -- BofA Securities -- Analyst Hitesh Goel -- CLSA Limited --\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"stock earnings conference call transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/02\/EarningsTranscript.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":142977,"url":"https:\/\/alphastreet.com\/india\/earnings-delhivery-ltd-nsedelhivery-q3fy23-results-out-total-income-fell-5-yoy\/","url_meta":{"origin":141304,"position":3},"title":"Earnings | Delhivery Ltd (NSE:DELHIVERY): Q3FY23 Results Out; Total Income fell 5% YoY","author":"Divyansh_Kasana","date":"February 28, 2023","format":false,"excerpt":"Delhivery Ltd (NSE:DELHIVERY) is an Indian logistics and supply chain services company that provides end-to-end logistics solutions to businesses and consumers. The company was founded in 2011 and has since grown to become one of the leading logistics providers in India, with a network of more than 18,500 pin codes\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":146777,"url":"https:\/\/alphastreet.com\/india\/delhivery-ltd-delhivery-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":141304,"position":4},"title":"Delhivery Ltd (DELHIVERY) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 21, 2023","format":false,"excerpt":"Delhivery Ltd (NSE:DELHIVERY) Q4 FY23 Earnings Concall dated May. 20, 2023. Corporate Participants: Sahil Barua\u00a0--\u00a0Chief Executive Officer Amit Agarwal\u00a0--\u00a0Chief Financial Officer Analysts: Vijit Jain\u00a0--\u00a0Citigroup Inc. -- Analyst Sachin Salgaonkar\u00a0--\u00a0BofA Securities -- Analyst Aditya Suresh\u00a0--\u00a0Macquarie Research -- Analyst Mukesh Saraf\u00a0--\u00a0Spark Capital Advisors (India) Private Limited -- Analyst Sohan Joshi\u00a0--\u00a0-- Analyst Gaurav\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":176749,"url":"https:\/\/alphastreet.com\/india\/delhivery-ltd-delhivery-q2-2025-earnings-call-transcript\/","url_meta":{"origin":141304,"position":5},"title":"Delhivery Ltd (DELHIVERY) Q2 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Delhivery Ltd (NSE: DELHIVERY) Q2 2025 Earnings Call dated Nov. 14, 2024 Corporate Participants: Sahil Barua \u2014 Managing Director and Chief Executive Officer Amit Agarwal \u2014 Chief Financial Officer Analysts: Baiju Joshi \u2014 Analyst Sachin Salgaonkar \u2014 Analyst Aditya Bhartia \u2014 Analyst Gaurav Rateria \u2014 Analyst Achal Lohade \u2014 Analyst\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/141304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=141304"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/141304\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=141304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=141304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=141304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}