Blue Dart Express Ltd.
BLUEDARTServices filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
6 transcript(s)/analyst meet(s) served; 2 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 6 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| COVER_LETTER | 20240202 | 2023-12-31 | no | |
| COVER_LETTER | 20250204 | 2024-12-31 | no | |
| TRANSCRIPT | 20251110 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260213 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260518 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260808 | 2026-06-30 | yes |
BLUEDART
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 4,793.00 |
| 52-week range | 4647.4 – 6694.0 |
| Return 1M | -4.03% |
| Return 3M | -3.8% |
| Return 1Y | -17.01% |
| Return 3Y | -28.65% |
| Return 5Y | -25.74% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 1,658.00 |
| Other income | 15.00 |
| Total income | 1,673.00 |
| Cost of materials consumed | 966.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 278.00 |
| Finance costs | 21.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.75 | 0.00 |
| institutions foreign | 0.03 | -0.00 |
| institutions domestic | 0.14 | -0.00 |
| mutual funds | 0.12 | 0.01 |
| public | 0.25 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| COVER_LETTER | 2024-12-31 | 2 |
| TRANSCRIPT | 2026-06-30 | 4 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-06-30 | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,293.00 | 1,325.00 | 1,337.00 | 1,217.00 | 1,238.00 | 1,324.00 | 1,383.00 | 1,323.00 | 1,343.00 | 1,448.00 | 1,512.00 | 1,442.00 | 1,549.00 | 1,616.00 | 1,533.00 | 1,658.00 |
| Other income | 7.00 | 8.00 | 9.00 | 9.00 | 10.00 | 5.00 | 24.00 | 11.00 | 9.00 | 9.00 | 12.00 | 10.00 | 10.00 | 10.00 | 12.00 | 15.00 |
| Total income | 1,300.00 | 1,333.00 | 1,346.00 | 1,225.00 | 1,248.00 | 1,330.00 | 1,407.00 | 1,334.00 | 1,352.00 | 1,457.00 | 1,524.00 | 1,452.00 | 1,559.00 | 1,627.00 | 1,545.00 | 1,673.00 |
| Cost of materials consumed | 720.00 | 784.00 | 781.00 | 703.00 | 720.00 | 757.00 | 804.00 | 752.00 | 781.00 | 851.00 | 890.00 | 836.00 | 884.00 | 944.00 | 905.00 | 966.00 |
| Purchases of stock-in-trade | 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 |
| Changes in inventories | 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 |
| Employee benefit expense | 216.00 | 210.00 | 203.00 | 209.00 | 217.00 | 230.00 | 234.00 | 226.00 | 240.00 | 247.00 | 241.00 | 261.00 | 267.00 | 258.00 | 256.00 | 278.00 |
| Finance costs | 18.00 | 18.00 | 16.00 | 15.00 | 19.00 | 20.00 | 20.00 | 19.00 | 21.00 | 21.00 | 21.00 | 19.00 | 22.00 | 24.00 | 22.00 | 21.00 |
| Depreciation and amortisation | 97.00 | 101.00 | 100.00 | 96.00 | 99.00 | 111.00 | 111.00 | 113.00 | 118.00 | 121.00 | 121.00 | 121.00 | 131.00 | 145.00 | 140.00 | 137.00 |
| Other expenses | 90.00 | 89.00 | 125.00 | 106.00 | 110.00 | 115.00 | 132.00 | 119.00 | 119.00 | 132.00 | 142.00 | 149.00 | 147.00 | 133.00 | 150.00 | 153.00 |
| Total expenses | 1,141.00 | 1,202.00 | 1,225.00 | 1,129.00 | 1,165.00 | 1,232.00 | 1,300.00 | 1,229.00 | 1,280.00 | 1,372.00 | 1,414.00 | 1,386.00 | 1,450.00 | 1,504.00 | 1,473.00 | 1,554.00 |
| Profit before exceptional items and tax | 159.00 | 131.00 | 121.00 | 97.00 | 82.00 | 98.00 | 108.00 | 105.00 | 72.00 | 85.00 | 109.00 | 66.00 | 109.00 | 123.00 | 73.00 | 119.00 |
| Exceptional items | 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 | -44.00 | -0.00 | 0.00 |
| Profit before tax | 159.00 | 131.00 | 121.00 | 97.00 | 82.00 | 98.00 | 108.00 | 105.00 | 72.00 | 85.00 | 109.00 | 66.00 | 109.00 | 79.00 | 73.00 | 119.00 |
| Current tax | 47.00 | 42.00 | 34.00 | 23.00 | 21.00 | 25.00 | 21.00 | 22.00 | 18.00 | 25.00 | 30.00 | 11.00 | 34.00 | 12.00 | 24.00 | 31.00 |
| Deferred tax | -7.00 | -5.00 | -2.00 | 4.00 | 1.00 | 0.00 | -2.00 | 5.00 | 0.00 | -2.00 | -2.00 | 7.00 | -6.00 | -2.00 | -1.00 | -0.00 |
| Tax expense | 40.00 | 37.00 | 33.00 | 27.00 | 21.00 | 25.00 | 19.00 | 27.00 | 19.00 | 22.00 | 28.00 | 17.00 | 28.00 | 11.00 | 24.00 | 31.00 |
| Profit for the period | 119.00 | 94.00 | 89.00 | 69.00 | 61.00 | 73.00 | 89.00 | 78.00 | 53.00 | 63.00 | 81.00 | 49.00 | 81.00 | 68.00 | 49.00 | 88.00 |
| Profit attributable to owners | 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 |
| Profit attributable to non-controlling interests | 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 |
| Other comprehensive income | 0.00 | 0.00 | -7.00 | 0.00 | 0.00 | 0.00 | -14.00 | -4.00 | 0.00 | 0.00 | -6.00 | 0.00 | 0.00 | 16.00 | 13.00 | 0.00 |
| Total comprehensive income | 119.00 | 94.00 | 81.00 | 70.00 | 61.00 | 73.00 | 75.00 | 74.00 | 53.00 | 63.00 | 75.00 | 49.00 | 81.00 | 84.00 | 62.00 | 88.00 |
| Earnings per share, basic | 50.06 | 39.47 | 37.36 | 29.27 | 25.83 | 30.79 | 37.46 | 32.78 | 22.51 | 26.49 | 34.14 | 20.58 | 34.30 | 28.79 | 20.59 | 37.29 |
| Earnings per share, diluted | 50.06 | 39.47 | 37.36 | 29.27 | 25.83 | 30.79 | 37.46 | 32.78 | 22.51 | 26.49 | 34.14 | 20.58 | 34.30 | 28.79 | 20.59 | 37.29 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|
| Revenue from operations | 3,175.00 | 3,288.00 | 4,410.00 | 5,172.00 | 5,268.00 | 6,141.00 |
| Other income | 16.00 | 20.00 | 31.00 | 32.00 | 51.00 | 42.00 |
| Total income | 3,191.00 | 3,308.00 | 4,441.00 | 5,204.00 | 5,319.00 | 6,183.00 |
| Cost of materials consumed | 1,656.00 | 1,578.00 | 2,281.00 | 2,988.00 | 3,032.00 | 3,568.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 734.00 | 729.00 | 765.00 | 838.00 | 907.00 | 1,043.00 |
| Finance costs | 117.00 | 111.00 | 87.00 | 67.00 | 78.00 | 86.00 |
| Depreciation and amortisation | 347.00 | 430.00 | 395.00 | 394.00 | 433.00 | 536.00 |
| Other expenses | 311.00 | 295.00 | 364.00 | 409.00 | 476.00 | 579.00 |
| Total expenses | 3,166.00 | 3,143.00 | 3,893.00 | 4,696.00 | 4,926.00 | 5,812.00 |
| Profit before exceptional items and tax | 25.00 | 166.00 | 548.00 | 508.00 | 393.00 | 371.00 |
| Exceptional items | -64.00 | -26.00 | -36.00 | 0.00 | 0.00 | -44.00 |
| Profit before tax | -39.00 | 140.00 | 512.00 | 508.00 | 393.00 | 327.00 |
| Current tax | 13.00 | 54.00 | 137.00 | 147.00 | 88.00 | 81.00 |
| Deferred tax | -10.00 | -16.00 | -7.00 | -9.00 | 4.00 | -2.00 |
| Tax expense | 3.00 | 38.00 | 130.00 | 138.00 | 92.00 | 79.00 |
| Profit for the period | -42.00 | 102.00 | 382.00 | 371.00 | 301.00 | 247.00 |
| Profit attributable to owners | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -9.00 | -1.00 | -8.00 | -7.00 | -18.00 | 29.00 |
| Total comprehensive income | -51.00 | 101.00 | 375.00 | 363.00 | 284.00 | 276.00 |
| Earnings per share, basic | -17.64 | 42.91 | 161.08 | 156.16 | 126.86 | 104.26 |
| Earnings per share, diluted | -17.64 | 42.91 | 161.08 | 156.16 | 126.86 | 104.26 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Total assets | 3,071.00 | 3,223.00 | 3,275.00 | 3,461.00 | 3,586.00 | 3,821.00 | 4,127.00 |
| Non-current assets | 1,673.00 | 2,073.00 | 2,049.00 | 2,103.00 | 2,125.00 | 2,168.00 | 2,275.00 |
| Current assets | 1,398.00 | 1,150.00 | 1,226.00 | 1,358.00 | 1,461.00 | 1,653.00 | 1,852.00 |
| Property, plant and equipment | 1,404.00 | 1,388.00 | 1,758.00 | 1,753.00 | 1,831.00 | 1,863.00 | 1,995.00 |
| Capital work-in-progress | 5.00 | 415.00 | 12.00 | 73.00 | 27.00 | 35.00 | 27.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 54.00 | 49.00 | 45.00 | 69.00 | 58.00 | 49.00 | 40.00 |
| Inventories | 37.00 | 39.00 | 46.00 | 52.00 | 51.00 | 53.00 | 56.00 |
| Trade receivables | 669.00 | 637.00 | 729.00 | 670.00 | 774.00 | 938.00 | 918.00 |
| Cash and cash equivalents | 160.00 | 94.00 | 134.00 | 165.00 | 126.00 | 138.00 | 238.00 |
| Total equity and liabilities | 3,071.00 | 3,223.00 | 3,275.00 | 3,461.00 | 3,586.00 | 3,821.00 | 4,127.00 |
| Equity | 1,028.00 | 1,180.00 | 1,217.00 | 1,367.00 | 1,425.00 | 1,631.00 | 1,777.00 |
| Equity share capital | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 | 24.00 |
| Other equity | 1,005.00 | 1,156.00 | 1,193.00 | 1,344.00 | 1,401.00 | 1,608.00 | 1,753.00 |
| Total liabilities | 2,043.00 | 2,043.00 | 2,058.00 | 2,094.00 | 2,161.00 | 2,190.00 | 2,350.00 |
| Non-current liabilities | 684.00 | 928.00 | 884.00 | 603.00 | 628.00 | 837.00 | 659.00 |
| Current liabilities | 1,359.00 | 1,116.00 | 1,174.00 | 1,491.00 | 1,533.00 | 1,352.00 | 1,691.00 |
| Borrowings, non-current | 0.00 | 250.00 | 250.00 | 0.00 | 0.00 | 200.00 | 0.00 |
| Borrowings, current | 200.00 | 0.00 | 0.00 | 255.00 | 250.00 | 0.00 | 200.00 |
| Trade payables | 631.00 | 585.00 | 597.00 | 607.00 | 690.00 | 702.00 | 755.00 |
Cash flow, as filed
| Line | 2022-03-31 | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 860.00 | 392.00 | 717.00 | 289.00 | 847.00 | 295.00 | 270.00 | 810.00 |
| Net cash from investing activities | 11.00 | -223.00 | -514.00 | -33.00 | -375.00 | -118.00 | -77.00 | -315.00 |
| Net cash from financing activities | -772.00 | -192.00 | -291.00 | -216.00 | -401.00 | -215.00 | -221.00 | -424.00 |
| Purchase of property, plant and equipment | 0.00 | 71.00 | 571.00 | 100.00 | 268.00 | 114.00 | 124.00 | 315.00 |
| Net increase in cash | 99.00 | -22.00 | -89.00 | 40.00 | 71.00 | -38.00 | -28.00 | 72.00 |
| con:CFO.BEFORE_TAX | 1,002.00 | 474.00 | 874.00 | 349.00 | 916.00 | 358.00 | 323.00 | 929.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 142.00 | 81.00 | 157.00 | 60.00 | 69.00 | 63.00 | 53.00 | 119.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 4.00 | 0.00 | 1.00 | 4.00 | 6.00 | 2.00 | 1.00 | 2.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 75.00 | 0.75 | 0.75 | 0.75 | 0.75 |
| Domestic institutions | 9.86 | 11.11 | 11.76 | 11.77 | 11.73 | 12.65 | 12.94 | 12.50 | 13.03 | 13.04 | 0.13 | 0.14 | 0.15 | 0.14 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 9.34 | 0.09 | 0.10 | 0.11 | 0.12 |
| Insurance companies | 4.62 | 5.04 | 5.32 | 5.04 | 4.84 | 3.39 | 3.73 | 3.40 | 3.42 | 3.39 | 0.04 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 4.85 | 4.24 | 4.73 | 5.29 | 5.40 | 5.36 | 5.45 | 5.99 | 5.46 | 5.53 | 0.05 | 0.04 | 0.03 | 0.03 |
| Public | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 25.00 | 0.25 | 0.25 | 0.25 | 0.25 |
| Non-institutional | 10.29 | 9.64 | 8.50 | 7.94 | 7.88 | 6.99 | 6.61 | 6.52 | 6.50 | 6.44 | 0.07 | 0.07 | 0.07 | 0.07 |
| Shares outstanding | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 | 23727934 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| DHL Express (India) Private Limited, India | Fellow Subsidiary Company | Any other transaction | 508,000,000.00 | 12 |
| DHL Express (Singapore) Pte. Limited, Singapore | Holding Company | Any other transaction | 444,900,000.00 | 1 |
| Deutsche Post IT Services, GMBH | Fellow Subsidiary Company | Any other transaction | 319,300,000.00 | 4 |
| DHL Aviation (Netherlands) B.V. | Fellow Subsidiary Company | Any other transaction | 290,800,000.00 | 4 |
| Delhi Cargo Service Centre Private Limited | Entities in which a Director is in | Any other transaction | 136,200,000.00 | 2 |
| Key Management Personnel | Key Management Personnel | Any other transaction | 83,900,000.00 | 4 |
| DHL Logistics Private Limited, India | Fellow Subsidiary Company | Any other transaction | 51,200,000.00 | 10 |
| Deutsche Post AG, Germany | Ultimate Holding Company | Any other transaction | 34,900,000.00 | 8 |
| Mumbai Cargo Service Center Airport Private Limited | Entities in which a Director is in | Any other transaction | 9,200,000.00 | 2 |
| European Air Transport, Leipzig GMBH | Fellow Subsidiary Company | Any other transaction | 300,000.00 | 1 |
| Air Works (India) Engineering Private Limited, India | Entities in which a Director is in | Any other transaction | 0.00 | 2 |
| DHL INTERNATIONAL B.S.C | Fellow Subsidiary Company | Any other transaction | 0.00 | 1 |
| Cargo Service Centre India Private Limited | Entities in which a Director is in | Any other transaction | 0.00 | 3 |
| DHL WorldWide Network NV/SA | Fellow Subsidiary Company | Any other transaction | 0.00 | 1 |
| Deutsche Post Dialog Solutions Gmbh | Fellow Subsidiary Company | Any other transaction | 0.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-08 | Q1FY27 | BLUE DART EXPRESS LIMITED | Read the call |
| 2026-05-18 | Q4FY26 | BLUE DART EXPRESS LIMITED | Read the call |
| 2026-02-13 | Q3FY26 | BLUE DART EXPRESS LIMITED | Read the call |
| 2025-11-10 | Q2FY26 | BLUE DART EXPRESS LIMITED | Read the call |
Some earlier announcements under this heading are covering letters only — no transcript was attached.
What they said about it, quarter by quarter
| Topic | Q1FY27 | Q2FY26 | Q3FY26 | Q4FY26 |
|---|---|---|---|---|
| Capex | Last question from my side on capex side, any change with respect to your capex plan? | So how should we think about your capex for FY ‘26 and for the next two years? | So what's the capex number for this quarter? | Are there any similar plans to add or do some heavy capex in the coming year? |
| Costs | Or you think whatever is the cost inflation that gets actually passed on? | — | — | — |
| Demand | It's basically the -- I would say, the game of building efficiency in terms of flex in the resource versus demand. | I just wanted to know, was this on account of festive demand or is it like a seasonal growth that we get in Q2? | February 09, 2026 is panning out, in general, difficult to estimate as to how the demand is panning out, but we see a lot of positivity, customers als… | So we mainly look at optimizing the capacities with respect to the demand that comes from the customers. |
| Guidance | And since you're also guiding INR100 crores to INR150 crores, can you throw some light around what are the new hubs or anything which are coming up ov… | Any guidance you want to share, given that you're adding a lot of infrastructure on the ground side? | So any guidance on what kind of volume growth we could see going forward? | And in terms of the freighter utilization, if you could guide, Sir? |
| Margin | And as a result, we may be a low profit or a low margin or a negative margin. | So, what I was saying is that the margin is a function of operating leverage or would you like to point out the sustainability of these margins in the… | And also on the broad margin range, whether we are almost at this now stabilized margin or we'll see some further improvement from here? | Just is it fair to assume that the margin..sequential decline in margin, especially on EBITDA side of things, is primarily because of this mix? |
| People | The idea is always to try to synergize, have a better capacity utilization and more efficient model running. | November 03, 2025 the capacity utilization already being good. | See what happens in case of air, our capacity, we measure and monitor mainly in terms of the pallet utilization and not aircraft utilization, given th… | So it continues to be at around 85% on a pallet utilization level. |
| Pricing | April, May, June were characterized by that as we have a fuel price -- fuel surcharge mechanism, the fuel surcharge went up, helped us to neutralize t… | And how do we think when we are pricing our products, is it on cost plus basis in absolute terms or it's like cost plus some percentage basis when it … | And the price hikes, which you had taken starting January, just wanted to get a sense around what has been the effective pass-through? | Yes but we were able to pass or rather implement to a certain degree the price hikes which you have taken from January onwards. |
| Revenue growth | So shipment number of parcel standpoint, the growth was hardly about 2%. | So, we have closed this quarter with positive revenue growth and also improvement in the debit margin with the improvement actions by management both … | So this is the quarter wherein we have closed with the growth of revenue at around 7% and also improvement in the profitability levels. | In a fiscal year shaped by challenging customer expectations and changing customer expectations, continued growth in digital commerce, strong domestic… |