shares tumbled 8.44 per cent to ₹443.95 on Thursday afternoon, down from its previous close of ₹484.85, after the logistics major reported disappointing second-quarter results for FY26. The stock traded between ₹470.00 and ₹443.15 during the day, with heavy selling pressure evident as sell quantity significantly exceeded buy quantity.
The company reported revenue of ₹2,560 crore for Q2FY26, reflecting 16.9 per cent year-on-year growth but missing analyst estimates. More critically, Delhivery posted a net loss of ₹50.4 crore after accounting for ₹90 crore in one-time integration costs related to its Ecom Express acquisition. Excluding these costs, adjusted profit stood at ₹59 crore, though this still fell short of Motilal Oswal’s estimate of ₹82 crore.
On November 5, Delhivery’s board approved several strategic initiatives including the incorporation of three wholly-owned subsidiaries—two step-down subsidiaries in the UK and UAE with investments up to ₹5 crore each, and Delhivery Financial Services Private Limited in India with an initial investment of up to ₹12 crore. The company also announced that Vivek Pabari will take over as Chief Financial Officer from January 1, 2026, replacing Amit Agarwal who is stepping down after 13 years.
JM Financial downgraded the stock to ‘ADD’ with a target price of ₹530, while Motilal Oswal maintained its ‘BUY’ rating with a revised target of ₹570.