BLUEDART - Blue Dart Express Ltd. Share Price

In the earnings call held on November 3, 2025, Blue Dart Express Limited provided a positive outlook for the company, projecting continued revenue growth and margin improvements. For the quarter ended September 30, 2025, Blue Dart reported revenue from operations of INR 15,493 million, with a profit after tax of INR 795 million. The company experienced a 10% increase in the number of shipments, reaching 106.28 million, and a 5.9% growth in tonnage, totaling 363,974 tons.

Management highlighted significant initiatives aimed at strategic growth, including the launch of a Digital Account Opening platform that enables businesses to onboard rapidly and a new green integrated ground lab in Pataudi, Haryana, designed to enhance its express network with sustainable infrastructure.

Key forward-looking points include:

• A B2C growth rate of approximately 17% on a year-on-year basis.
• Ground services continue to grow faster than air services, with a nearly 30% increase in e-commerce shipments via ground.
• Expectations of sustaining margins around 7% with favorable customer lane mixes and improvements in operational efficiency.
• The firm emphasized ongoing investments in digitization and green logistics, positioning itself as a preferred partner within India's growth trajectory.

Overall, Blue Dart is focused on both maintaining its current service levels and enhancing profitability through a strategic mix of B2B and B2C services, alongside infrastructure investments that drive efficiency.

Here's a summary of the major Q&A from the earnings call transcript:

1. Question: "What would have been the tonnage and parcels for the quarter?"
Answer: "For this quarter, we recorded 106.28 million shipments and the total tonnage was 3,63,974 tons."

2. Question: "What would have been the B2C growth this quarter?"
Answer: "Our B2C growth stood at approximately 17% year-on-year compared to the same quarter last year."

3. Question: "Can you share the split between air and ground business? Is ground growing faster?"
Answer: "Yes, ground continues to grow faster than air, contributing significantly to our B2B and B2C offerings, with a notable increase in e-commerce movements on ground."

4. Question: "What changes have been made in customer acquisition strategies?"
Answer: "We've focused on automating customer onboarding processes, allowing quicker account openings without lengthy verifications."

5. Question: "What is the sectoral mix of your revenue?"
Answer: "E-commerce, electronics, and BFSI are key sectors. E-commerce contributes about 30% of revenues, while documents account for approximately 25-30%."

6. Question: "Any particular feedback on margins? What drives margin variations?"
Answer: "Margins fluctuate based on shipment mix. As we optimize cost and improve customer mix, we aim to enhance margins incrementally."

7. Question: "What guidance can you provide regarding capex for FY "˜26?"
Answer: "Capex will be in the INR 250-300 crores range, focused on normal facility renewals and expansions, without significant new investments planned at this stage."

8. Question: "Have you seen a change in yields?"
Answer: "Despite surface growing faster than air, yields increased slightly due to more lighter shipments coming through, impacting our average realizations positively."

Each answer maintains the essence and critical details from the earnings call while remaining concise.