Back in May 2011 when Delhivery began its operations, it was a hyperlocal food delivery startup in Gurugram. Three months later, the company pivoted and became an e-commerce logistics company, thereby cashing in on the online retail boom that was ushering in. Today, it is one of India’s largest third-party e-commerce logistics and fulfillment startup, with clients like Flipkart, Snapdeal, and eBay, among others.

Company NameDelhivery
Official Company Name, as per MCA recordsDelhivery Private Limited
CEOSahil Barua
Headquartered inGurugram
Total funding$127.5 million in 4 rounds
Last known valuation$350-$400 million
InvestorsTiger Global, Multiples Alternate Asset Management Pvt Ltd, Nexus Venture Partners, Times Internet,
CompetitorsE-Com Express, Gojavas, eKart


What has Delhivery been up to, in the last twelve months?

Delhivery didn’t make much news over the last twelve months. But that is exactly how they’d like it to be — rather unassuming. This is also that time in their life-cycle where growth has emerged as a key focus area, and the company’s 2015-16 results pretty much point towards that.

The company’s rapid growth also attracted global attention last year, when news reports suggested that Chinese e-commerce company Alibaba was keen on expanding its logistics presence in India by either buying or investing in Delhivery.

The company, as per an Economic Times report, was also in talks with PE firms and funds to “for pre-IPO placement.” The company, as per its CEO Sahil Barua, is planning an IPO next year. To be sure, Delhivery’s previous, Series D funding round came in May 2015, when it raised $85 million from three investors including Tiger Global Management, Multiples Alternate Asset Management Pvt Ltd and Nexus Venture Partners.

delihiveryResults:

Rs 495.7 crore: The operating revenue earned by Delhivery for the year ending 31st March 2016. This is well over 2X of its revenues from the previous year when it earned Rs 222.8 crore.

Rs 318 crore: Delhivery’s loss as of March 2016. A massive increase. Almost four-fold increase from the previous year, when the company’s losses stood at Rs 71.08 crore. A huge contributor to losses has been the salary expenditure. Also rent. As of March 2016, Delhivery recorded rent expense of Rs 63 crore, compared to Rs 14 crore in the previous year. 

Rs 143 crore: The amount Delhivery paid as salaries and wages to its employees, as of 31 March 2016. This is nearly 3X that of the amount it spent on wages last year, which was Rs 38.7 crore. This should not come as a surprise since Delhivery has been on a hiring spree over the last 18 months or so. The company’s total employee benefit expense was Rs 165 crore as of March 2016. 

Rs 28.68 crore: The total ‘other’ revenue earned by Delhivery, as of March 2016. This includes the Rs 15 crore it earned as interest income and Rs 11.6 crore it gained through the sale of investments. Delhivery also earned Rs 1.99 crore as ‘other non-operating income’.

Rs 443 crore: Delhivery recorded Rs 443 crore as miscellaneous expenses as of March 2016. A significant, more than 2X jump compared to the previous year when it recorded Rs 195 crore. The books of accounts do not provide an explanation of the various items which have been clubbed under miscellaneous expense. It will suffice to say; a black box.