Delhivery Dissolves Its UK Subsidiary, Parent Firm Remains 'Unaffected'

Logistics giant Delhivery has dissolved its wholly-owned UK subsidiary Delhivery Corp. The board of directors had earlier approved the initiation of liquidation of Delhivery Corp.

 “…we would like to inform you that Delhivery Corp Limited (Delhivery Corp), incorporated under the law of United Kingdom, a wholly owned subsidiary of Delhivery Limited (the Company), has been dissolved with effect from June 10, 2025,” the company said in its exchange filing.

The logistics start-up clarified that the dissolution will not affect Delhivery’s revenue as it is not a material subsidiary of the company. This came in the continuation of a disclosure made by the logistics unicorn on the Bombay Stock Exchange (BSE) in May last year pertaining to the liquidation of its UK-based subsidiary.

Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati, Delhivery is a transportation, supply chain, and logistic firm. Its direct competitors include Blue Dart, Xpressbees, Flipkart’s Ekart Logistics, and Amazon Shipping.

Delhivery's Q4 Financials

The logistics firm reported a consolidated net profit of Rs 73 crore in Q4FY25 compared to a loss of Rs 69 crore recorded in the corresponding quarter of the previous fiscal. Revenue from services stood at Rs 2,193 crore, marking a year-on-year rise of 5.6%.

The company's Ebitda figure stood at Rs 119 crore, a robust rise from Rs 46 crore reported in the corresponding quarter of the previous fiscal. Meanwhile, Ebitda margins stood at 5.4%, rising from 2.2% recorded in Q4FY24.

The overall revenue from services figure stood at Rs 8,932 crore in FY25, indicating a growth of 10% year-on-year from Rs 8,142 crore in FY24. EBITDA nearly tripled to Rs 376 crore in FY25 as against Rs 127 crore reported in the previous fiscal year.

Analysts at Nuvama Institutional Equities, meanwhile, believe Delhivery to be well-positioned to capitalise on two key trends--consolidation in the express parcel space, especially with the pending acquisition of Ecom Express awaiting CCI approval and strong momentum in its partial truckload (PTL) business.

It also holds the view that Delhivery’s sustaining profitability, reduced capex spends, aggressively growing PTL with robust margins and acquisitions will boost its future performance.