Blue Dart Express Ltd

Blue Dart Expres Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Blue Dart Express Ltd

₹ 7,401 4.72%
26 Dec - close price
bluedart.com BSE: 526612 NSE: BLUEDART
About

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]

Key Points

History
In FY2005, DHL Express Singapore Pte Ltd. (a 100% subsidiary of Deutsche Post AG, or DP DHL) acquired an 81% stake in BDEL from its erstwhile promoters - Mr. Clyde Cooper, Mr. Tushar Jani, and Mr. Khushroo Dubash, and other shareholders. In November 2012, to meet the SEBI’s requirements for promoter holding in public listed companies, DP DHL reduced its shareholding to 75% through an offer for sale (OFS). [1]

Website BSE NSE
  • Market Cap ₹ 17,524 Cr.
  • Current Price ₹ 7,401
  • High / Low ₹ 9,489 / 5,487
  • Stock P/E 64.9
  • Book Value ₹ 629
  • Dividend Yield 0.34 %
  • ROCE 23.9 %
  • ROE 20.5 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 25.9% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 31.4%
  • Company has been maintaining a healthy dividend payout of 26.0%

Cons

  • Stock is trading at 11.8 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Logistics Industry: Couriers

Part of Nifty Total Market Nifty Smallcap 250 BSE 250 SmallCap Index Nifty 500 Multicap 50:25:25 BSE SmallCap

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,124 1,255 1,166 1,293 1,325 1,337 1,217 1,238 1,324 1,383 1,323 1,343 1,448
925 1,051 948 1,103 1,163 1,186 1,088 1,124 1,194 1,249 1,183 1,233 1,327
Operating Profit 199 204 218 191 163 151 128 113 130 134 139 109 122
OPM % 18% 16% 19% 15% 12% 11% 11% 9% 10% 10% 11% 8% 8%
-30 8 9 10 12 14 14 16 15 23 18 19 19
Interest 6 5 6 5 4 4 4 5 5 5 5 7 7
Depreciation 43 43 39 40 42 41 44 44 46 47 50 52 52
Profit before tax 120 163 181 157 129 119 94 80 95 105 102 69 82
Tax % 25% 25% 25% 25% 29% 27% 26% 25% 25% 22% 26% 26% 26%
89 122 135 117 92 87 70 60 71 82 76 52 61
EPS in Rs 37.71 51.49 57.07 49.38 38.78 36.64 29.64 25.18 30.04 34.37 32.05 21.72 25.61
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 15m Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,167 1,933 2,268 2,552 2,681 2,791 3,165 3,166 3,280 4,409 5,172 5,268 5,497
1,889 1,762 2,045 2,221 2,416 2,531 2,992 2,978 2,903 3,705 4,540 4,750 4,992
Operating Profit 277 171 224 331 264 260 174 188 377 704 632 517 505
OPM % 13% 9% 10% 13% 10% 9% 5% 6% 11% 16% 12% 10% 9%
29 44 24 31 28 23 18 -50 -13 -7 51 72 79
Interest 0 0 11 31 31 26 15 32 32 24 17 19 24
Depreciation 34 27 44 40 44 45 48 153 201 169 167 187 201
Profit before tax 271 187 194 290 217 212 128 -47 131 504 499 383 359
Tax % 30% 34% 34% 34% 36% 33% 32% -19% 27% 25% 27% 25%
189 124 127 190 140 142 88 -38 96 376 366 289 270
EPS in Rs 79.51 52.43 53.46 80.07 58.82 59.89 36.92 -16.14 40.59 158.65 154.43 121.65 113.75
Dividend Payout % 89% 96% 300% 38% 26% 21% 34% 0% 37% 38% 19% 21%
Compounded Sales Growth
10 Years: 11%
5 Years: 11%
3 Years: 17%
TTM: 7%
Compounded Profit Growth
10 Years: 8%
5 Years: 26%
3 Years: 35%
TTM: -6%
Stock Price CAGR
10 Years: 2%
5 Years: 27%
3 Years: 6%
1 Year: 2%
Return on Equity
10 Years: 26%
5 Years: 26%
3 Years: 31%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 24 24 24 24 24 24 24 24 24 24 24 24 24
Reserves 626 612 273 447 498 597 641 560 655 931 1,237 1,415 1,468
0 0 332 332 332 166 146 75 431 248 260 279 356
390 295 345 351 398 439 559 903 726 830 813 857 988
Total Liabilities 1,040 931 974 1,154 1,252 1,226 1,370 1,561 1,837 2,034 2,333 2,575 2,836
220 228 215 243 234 219 247 562 494 432 483 541 599
CWIP 12 8 25 21 33 47 46 4 3 19 26 2 11
Investments 20 20 20 73 144 144 144 144 294 351 315 451 468
788 675 714 817 840 816 933 851 1,045 1,232 1,510 1,580 1,758
Total Assets 1,040 931 974 1,154 1,252 1,226 1,370 1,561 1,837 2,034 2,333 2,575 2,836

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
182 120 153 271 143 210 157 94 449 583 319 446
22 43 32 -61 -58 -5 -46 -39 -394 -112 -217 -133
-6 -294 -126 -89 -117 -235 -71 -222 -70 -371 -190 -242
Net Cash Flow 199 -131 60 121 -32 -30 40 -168 -15 100 -88 71

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 38 50 47 42 49 55 56 60 57 48 45 46
Inventory Days
Days Payable
Cash Conversion Cycle 38 50 47 42 49 55 56 60 57 48 45 46
Working Capital Days -13 13 8 10 13 8 -0 -16 -17 -17 -6 -5
ROCE % 43% 29% 32% 45% 30% 29% 18% 7% 21% 48% 37% 24%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
3.21% 3.25% 3.50% 5.13% 5.08% 4.85% 4.24% 4.73% 5.29% 5.40% 5.37% 5.46%
9.39% 9.51% 9.59% 7.90% 8.45% 9.86% 11.10% 11.76% 11.76% 11.73% 12.65% 12.94%
12.40% 12.24% 11.91% 11.97% 11.45% 10.29% 9.64% 8.50% 7.94% 7.88% 6.98% 6.60%
No. of Shareholders 30,60829,76829,44934,40436,62836,65636,84035,01929,29434,03129,99430,301

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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