āagman

Not investment advice. Data and computed figures, for information only.

Blue Dart Express Ltd

NSE: BLUEDART
₹4,467.50
−₹38.50 (−0.85%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹11,263 Cr
CMP
₹4,467.50
52-wk High / Low
₹7,036 / 4,458
P/E
34.8
P/B
6.3
Book Value
₹749.0
Div Yield
0.53%
ROCE
16.0%
ROE
15.7%
Face Value
₹10
D/E
0.64

Price−18.8% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹1,326
√(22.5 × EPS × book value per share)
ROIC
10.7%
vs 9.3% sector median
Cash flow to profit
3.28
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+215
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
12.8%
ROE × earnings retention ratio
ROE stability
11.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.07DII −0.07
Latest quarter vs the previous one
Cash-accrual divergence
−14.5%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 16% vs the 2026 sector median of 14%)
Watch-outs
−Borrowings are up 187.7% since FY2016 (397 to 1142)
−Price trades below its 200-day moving average (0.9x)
−Price is 36.5% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,2381,3241,3831,3231,3431,4481,5121,4171,4421,5491,6161,5331,658
Expenses1,0471,1021,1701,0971,1411,2301,2721,2041,2461,2971,3351,3111,396
Operating Profit191223213226202218239213196252281222261
OPM %15.4%16.8%15.4%17.1%15.0%15.1%15.8%15.0%13.6%16.3%17.4%14.5%15.7%
Other Income10524119912121010−331215
Interest19202019212121201922242221
Depreciation99111111113118121121124121131145140137
Profit before tax8298108105728510981661097973119
Net Profit61738978536381554981684988
EPS (₹)25.8330.7937.4632.7822.5126.4834.1423.2420.5834.3028.8020.5937.29

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,2722,5632,6902,7993,1743,1753,2884,4105,1725,2685,7206,1416,357
Expenses2,0482,1572,3482,4472,8882,7012,6023,4104,2354,4154,8445,1905,340
Operating Profit2244063423522864756861,0009388538769511,016
OPM %9.9%15.8%12.7%12.6%9.0%15.0%20.9%22.7%18.1%16.2%15.3%15.5%16.0%
Other Income2535262019−49−6−5325138−23
Interest1143454043117111876778828688
Depreciation44102104114128347430395394433485536552
Profit before tax194296219217134−39140512508393347327380
Net Profit12919714014590−42102382371301252247287
EPS (₹)54.5182.9558.9360.9937.83−17.6442.91161.08156.16126.86106.38104.26120.98

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital242424242424242424242424—
Reserves2843584065085544675688481,1561,3441,5351,753—
Borrowings3323974914185735301,5221,0661,1201,0731,0071,142—
Other Liabilities3494864775536611,6207838919231,0211,0971,208—
Total Liabilities9881,2651,3971,5031,8112,6412,8972,8293,2233,4613,6634,127—
Fixed Assets2164534715186541,6651,5831,4371,4371,8231,8142,035—
CWIP252167999118769439747727—
Investments2600000150207171307386413—
Other Assets7217908608851,0669581,1581,1151,1761,2571,3861,652—
Total Assets9881,2651,3971,5031,8112,6412,8972,8293,2233,4613,6634,127—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity120153361225317243364750860717847735810
Cash from Investing Activity3932−149−228−190−280−193−52911−514−375−300−315
Cash from Financing Activity−294−126−95−33−15279−340−235−772−291−401−434−424
Net Cash Flow−13660118−36−2542−169−1499−8971272

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %28.032.048.031.028.017.013.017.031.026.019.016.016.0
ROE %————————————15.7
EPS (₹)51.6754.5182.9558.9360.9937.83−17.6442.91161.08156.16126.86106.38104.26
Book Value (₹)————————————749.0
Face Value (₹)————————————10
P/E————————————34.8
Div Yield %————————————0.53
NPM %6.45.67.65.25.12.8−1.33.18.77.15.74.44.0
OPM %9.010.016.013.013.09.015.021.023.018.016.015.015.0
D/E0.001.081.041.140.790.991.082.571.220.950.780.650.64
P/B————————————6.3

Growth

As of 27 Sep 2026
Compounded sales growth
10 years+9.0%
5 years+13.0%
3 years+6.0%
TTM+9.0%
Compounded profit growth
10 years+3.0%
5 years+18.0%
3 years−10.0%
TTM+31.0%
Stock price CAGR
10 years−1.0%
5 years−6.0%
3 years−11.0%
Last year−16.0%
Return on equity
10 years24.0%
5 years25.0%
3 years18.0%
Last year16.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs6.51%6.51%6.68%4.50%2.68%1.97%3.25%4.85%5.40%5.46%3.42%3.35%
DIIs6.65%6.65%5.90%5.22%10.87%11.31%9.51%9.86%11.73%13.04%14.54%14.47%
Government————————————
Public11.84%11.84%12.42%15.28%11.45%11.72%12.24%10.29%7.88%6.49%7.04%7.17%
No. of shareholders19,30819,30816,78717,04216,86722,22229,76836,65634,03129,90435,37537,650
Change since Jun 2023 (pp)
Promoters +0.00FIIs −3.16DIIs +7.82Public −4.67

Documents

As of 27 Sep 2026
Announcements
Closure of Trading WindowClarification LetterAnnouncement under Regulation 30 (LODR)-CessationBoard Meeting Outcome for Outcome Of Board Meeting - Appointment Of Chairman, Resignation/Cessation Of Directors & Reconstitution Of CommitteesAnnouncement under Regulation 30 (LODR)-Resignation of Director
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTNov 2025RecordingOct 2025PPT

Corporate actions

As of 15 Sep 2026
15 Sep 2026DIVIDENDDividend - Rs 25 Per Share—
6 Aug 2025DIVIDENDDividend - Rs 25 Per Sh—
12 Jul 2024DIVIDENDAnnual General Meeting/Dividend - Rs 25 Per Share—
19 Jul 2023DIVIDENDAnnual General Meeting/Dividend - Rs 30 Per Share—
18 Jul 2022DIVIDENDAnnual General Meeting/Dividend - Rs 35 Per Share—
8 Feb 2022DIVIDENDInterim Dividend - Rs 25 Per Share—
20 Jul 2021DIVIDEND Annual General Meeting/Dividend - Rs 15 Per Share—
22 Jul 2019DIVIDEND Annual General Meeting/ Dividend - 12.50 Per Share—
20 Jul 2018DIVIDEND Annual General Meeting / Dividend- Rs 12.50 Per Share—
18 Jul 2017DIVIDEND Annual General Meeting/Dividend-Rs 15/- Per Share—
19 Jul 2016DIVIDEND Annual General Meeting/ Dividend - Rs 25/- Per Share + Special Dividend - Rs 5/- Per Share—
20 Jul 2015DIVIDENDAnnual General Meeting/Dividend - Rs 20/- Per Share—
17 Nov 2014DEMERGERScheme Of Arrangement - Issue Of Bonus Debentures—
14 Jul 2014DIVIDENDAnnual General Meeting/Dividend Rs 15/- Per Share—
14 Feb 2014DIVIDENDInterim Dividend - Rs 35/- Per Share—
12 Jul 2013DIVIDENDAnnual General Meeting And Dividend Rs 71 Per Equity Share—
13 Apr 2012DIVIDENDAnnual General Meeting And Dividend Rs.2/- Per Share—
15 Apr 2011DIVIDENDAnnual General Meeting And Dividend Re.1/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman