Investor Presentation

Date: October 30, 2026 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 India Bandra (E), Mumbai – 400 051 India Scrip Code: 543529 Symbol: DELHIVERY Sub: Investor Presentation for the ‘Earnings Conference Call’ scheduled to be held on October 30, 2026, by Delhivery Limited (‘the Company’) Dear Sir/ Madam, In furtherance to our earlier communication dated October 23, 2026 w.r.t. Earnings Conference Call and pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of the Investor Presentation, on Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026, proposed to be presented by the Company at the upcoming Earnings Conference Call scheduled to be held today, i.e., Friday, October 30, 2026, at 06:00 P.M. (IST). This presentation will also be hosted on the Company’s website at www.delhivery.com. You are requested to take the same on your record. Thank you. Yours sincerely, For Delhivery Limited Madhulika Rawat Company Secretary & Compliance Officer Membership No: F8765 Encl.: As above Earnings Presentation Q2FY27 Safe harbour and disclaimer This Presentation is prepared by Delhivery Limited (“Company”) and is for information purposes only without regards to specific objectives, financial situations or needs of any particular person and nothing in it shall be construed as an invitation, offer, solicitation, recommendation or advertisement in respect of the purchase or sale of any securities of the Company or any affiliates in any jurisdiction or as an inducement to enter into investment activity and no part of it shall form the basis of or be relied upon in connection with any contract or commitment or investment decision whatsoever . This Presentation does not take into account, nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person . This Presentation and its contents are confidential and proprietary to the Company and/or its affiliates and no part of it or its subject matter be used, reproduced, copied, distributed, shared, or disseminated, directly or indirectly, to any other person or published in whole or in part for any purpose, in any manner whatsoever . Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations . These forward -looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward -looking statements . Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, labour laws, import duties, litigation and labour relations etc. Investment in equity and equity related securities involve a degree of risk and investors should not invest any funds in this Company without necessary diligence and relying on their own examination of Delhivery Limited along with the equity investment risk which doesn't guarantee capital protection . Q2FY27 & H1FY27 financial highlights Continued growth momentum 191 Q2FY27 H1FY27 325 Mn 545K MT 647 Mn 1,087K MT Express Parcel shipments PTL freight tonnage Express Parcel shipments PTL freight tonnage YoY: 32.1% / QoQ: 0.8% YoY: 14.2% / QoQ: 0.7% YoY: 42.7% YoY: 16.3% ₹3,066 Cr ₹3,133 Cr ₹5,997 Cr ₹6,178 Cr 53 Revenue from services Total Income Revenue from services Total Income YoY: 19.8% / QoQ: 4.6% YoY: 18.2% / QoQ: 2 .9% YoY: 23.6% YoY: 21.7% 143 ₹123 Cr / 4.0% ₹41 Cr / 1.3 % ₹199 Cr / 3.3 % ₹73 Cr / 1.2% Adjusted EBITDA / margin PAT / margin (1) Adjusted EBITDA / margin PAT / margin Q2FY26: ₹ 83 Cr / 3.3% Q2FY26: (₹ 51 Cr) / (1.9%) H1FY26: ₹ 158 Cr / 3.3% H1FY26: ₹ 41Cr / 0.8% Q1FY27: ₹ 76 Cr / 2.6% Q1FY27: ₹ 32 Cr / 1.0% ₹4,676 Cr Cash & Cash Equivalents (2) 1) PAT for Q2FY26 & Q1FY27 excluding impact of Ecom Express acquisition was ₹59 Cr and ₹62 Cr respectively 1 2) Cash & Cash Equivalents = Consolidated Cash and cash equivalents + Other bank balances + Non -current & current Investments + M argin money deposits + Deposits with original maturity >12 months Q2FY27 Transport highlights Continued growth momentum Transport (Express+ PTL) Express parcel shipments Express parcel revenue revenue (₹ Cr) (Mn) (₹ Cr) YoY: 22.1% YoY: 32.1% YoY: 21.7% 2,633 1,961 1,611 2,157 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Transport (Express + PTL) PTL freight tonnage PTL freight revenue Adj. EBITDA (1)(₹ Cr,%) (‘000 MT) (₹ Cr) 4.1% 6.3% YoY: 14.2% YoY: 23.1% Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 1) Q2FY26 excludes impact of Ecom Express acquisition 2 H1FY27 Transport highlights Continued growth momentum Transport (Express+ PTL) Express parcel shipments Express parcel revenue revenue (₹ Cr) (Mn) (₹ Cr) YoY: 26.2 % YoY : 42.7% YoY: 27.1% 5,135 3,830 4,069 3,015 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 Transport (Express + PTL) PTL freight tonnage PTL freight revenue Adj. EBITDA (1)(₹ Cr,%) (‘000 MT) (₹ Cr) 4.7% 5.7% YoY: 16.3% YoY: 23.8% 1,305 294 1,087 1,054 190 935 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 1) Q2FY26 & Q1FY27 excludes impact of Ecom Express acquisition 3 Service line - wise profitability ₹ Cr Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 FY25 FY26 Transport (Express + PTL) Revenue 2,157 2,417 2,453 2,502 2,633 7,207 8,939 Adjusted EBITDA 87 177 194 128 166 264 561 % margin 4.1% 7.3% 7.9% 5.1% 6.3% 3.7% 6.3% Supply Chain Services Revenue 170 171 185 199 191 907 729 Adjusted EBITDA 3 2 (1) (8) 2 (64) (4) 0 % margin 1.6% 1.1% (0.7%) (4.1%) 0.9% (7.1%) 0.0% Others (1) Revenue 209 197 191 197 193 816 770 Adjusted EBITDA 8 (11) (15) (12) (10) (46) (28) New initiatives (2) Revenue 10 13 20 32 49 1 47 Adjusted EBITDA (15) (20) (26) (32) (35) (6) (76) Overall Revenue 2,546 2,798 2,848 2,931 3,066 8,932 10,486 Adjusted EBITDA (3) 83 147 151 76 123 148 457 % margin 3.3% 5.3% 5.3% 2.6% 4.0% 1.7% 4.4% Note: Adjusted EBITDA = Service EBITDA –Corporate overheads allocable to respective services 1) Others includes Full truckload and Cross border 2) New Initiatives includes Delhivery Local, Rapid and Financial services 3) Excludes impact of Ecom Express integration costs –₹90 Cr for Q2FY26, ₹35 Cr for Q3FY26, ₹22 Cr for Q4FY26 , ₹17 Cr for Q1FY27 and ₹148 Cr for FY26 4) One-time impact of provisions on account of contractual matters Note: Due to rounding off, totals may not correspond with the sum of individual figures Consistent reduction in capital intensity Net Working Capital Days Capex(3)as % of revenue 38 28 22 17 11 5 7.8% 7.4% 5.2% 4.7% 5.1% 4.8% 62 0.5% 57 0.4% 41 3.7% 3.3% 39 34 35 36 33 36 0.4% 0.9% 0.5% 0.4% 2.1% 2.5% 1.7% 1.6% 2.6% 1.7% 0.8% 0.3% 0.2% 0.1% 1.8% 2.1% 1.9% 1.9% 1.9% 1.8% Mar'23 Mar'24 Mar'25 Sep'25 Mar'26 Sep'26 FY23 FY24 FY25 FY26 H1FY26 H1FY27 Receivable Days(1) Payable Days(2) Vehicles Automation Network IT assets Note: Excluding impact of Ecom Express acquisition 1) Receivable days = (Trade receivables + Unbilled receivables) * 365 / Annualized revenue from operations for the last quarter of the peri od. For Mar’24, Mar’25, Sep’25, Mar’26 and Sep’26, trade receivables considered net of any cash on delivery held against receivables and net of customer advances 2) Payable days = Trade payables * 365 / Annualized revenue from operations for the last quarter of the period. For Mar’24, Mar’ 25,Sep’25, Mar’26 and Sep’26, trade payables considered net of vendor advances 3) Capex is on capitalisation basis. Does not include CWIP Appendix Key operational metrics At the end of / for the period Q2FY26 Q1FY27 Q2FY27 Pin-code (1) 18,830 18,810 18,799 Countries and territories served (2) 220+ 220+ 220+ No. of active customers ( [Showing first 8,000 characters — download PDF for full document]