Debasis Mohapatra
Bengaluru, 18 March 2026
Logistics player, Delhivery is likely to benefit from increased outsourcing of ecommerce players to third-party logistics companies for handling their supply chain.
Brokerage firm, Emkay said in a report that Delhivery’s market position has been strengthened after the acquisition of Ecom Express.
“With the acquisition of Ecom Express, the B2C (business to consumer) industry has seen meaningful consolidation with organized 3PL (third party logistics) operators like Delhivery and Shadowfax holding the lion’s market share. Also owing to this consolidation, Meesho’s logistics costs rose steeply in Q3 and caused a temporary pause in insourcing. Combined, such developments are likely to drive volume toward the surviving 3PL partners, with Delhivery best positioned to absorb them, given its superior network reach and lower cost advantage versus peers,” the Emkay report said.
It also noted that sound operating leverage with stable pricing would lead to margin expansion of Delhivery in the coming quarters.
Additionally, more outsourcing of supply chain-related operations to third party logistics (3PL) players augur well for Delhivery.
It, however, noted that recent outsourcing of Shadowfax for hyperlocal and express services is likely to limit the share of wallet for Delhivery.
Delhivery posted a revenue of Rs 2,882 crore in the third quarter of FY26, which was a growth of 16.4% over the same period of last year. Its net profit was at Rs 40 crore, a rise of 58.5% year-on-year basis.
Delhivery was trading 3.38% up at Rs 415.90 (at 10.35 AM IST) in NSE on Wednesday.
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