Financials Blue Dart Express Limited NSE India S.E.

Equities

BLUEDART

INE233B01017

Air Freight & Logistics

Market Closed - NSE India S.E. 07:43:54 2024-06-28 EDT 5-day change 1st Jan Change
7,971 INR +1.72% Intraday chart for Blue Dart Express Limited +3.15% +8.27%

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 51,564 132,286 162,373 147,207 146,637 189,138 - -
Enterprise Value (EV) 1 54,889 131,630 171,189 157,453 146,637 190,184 188,713 182,696
P/E ratio -123 x 130 x 42.5 x 39.7 x 48.7 x 49.5 x 37.2 x 30.1 x
Yield - 0.27% 0.88% 0.48% - 0.64% 0.85% 0.89%
Capitalization / Revenue 1.62 x 4.02 x 3.68 x 2.85 x 2.78 x 3.25 x 2.93 x 2.65 x
EV / Revenue 1.73 x 4 x 3.88 x 3.04 x 2.78 x 3.27 x 2.92 x 2.56 x
EV / EBITDA 11.6 x 19.2 x 17.1 x 16.8 x 17.2 x 19.2 x 16.2 x 13.5 x
EV / FCF 33.2 x 22.3 x 25 x 108 x - 34 x 28 x 19.9 x
FCF Yield 3.01% 4.48% 4% 0.92% - 2.94% 3.58% 5.02%
Price to Book 10.5 x 22.3 x 18.6 x 12.5 x - 11.7 x 9.71 x -
Nbr of stocks (in thousands) 23,728 23,728 23,728 23,728 23,728 23,728 - -
Reference price 2 2,173 5,575 6,843 6,204 6,180 7,971 7,971 7,971
Announcement Date 20-05-26 21-05-05 22-05-05 23-05-05 24-05-02 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 31,751 32,881 44,105 51,722 52,678 58,157 64,639 71,242
EBITDA 1 4,742 6,863 9,998 9,375 8,528 9,894 11,632 13,493
EBIT 1 1,268 2,563 6,044 5,430 4,199 5,282 6,874 8,478
Operating Margin 4% 7.79% 13.7% 10.5% 7.97% 9.08% 10.64% 11.9%
Earnings before Tax (EBT) 1 -391.2 1,398 5,123 5,082 3,927 5,102 6,686 7,791
Net income 1 -418.6 1,018 3,822 3,705 3,010 3,816 4,989 5,832
Net margin -1.32% 3.1% 8.67% 7.16% 5.71% 6.56% 7.72% 8.19%
EPS 2 -17.64 42.91 161.1 156.2 126.9 161.2 214.2 264.5
Free Cash Flow 1 1,652 5,896 6,852 1,454 - 5,591 6,748 9,173
FCF margin 5.2% 17.93% 15.54% 2.81% - 9.61% 10.44% 12.88%
FCF Conversion (EBITDA) 34.83% 85.91% 68.54% 15.51% - 56.51% 58.01% 67.98%
FCF Conversion (Net income) - 579.1% 179.28% 39.24% - 146.53% 135.24% 157.29%
Dividend per Share 2 - 15.00 60.00 30.00 - 51.02 67.80 70.78
Announcement Date 20-05-26 21-05-05 22-05-05 23-05-05 24-05-02 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4
Net sales 1 12,548 11,659 12,933 13,253 13,371 12,166 12,376 13,245 13,829 13,229 13,489 14,437 15,627 14,756
EBITDA 2,737 2,918 2,672 2,430 2,280 - 1,907 2,227 2,134 2,260 - - - -
EBIT 1 1,706 1,993 1,698 1,419 1,284 1,029 916.7 1,122 1,028 1,132 1,094 1,389 1,593 1,596
Operating Margin 13.59% 17.09% 13.13% 10.7% 9.61% 8.46% 7.41% 8.47% 7.44% 8.56% 8.11% 9.62% 10.19% 10.82%
Earnings before Tax (EBT) 1,654 1,832 1,590 1,311 1,215 - - 978.6 1,075 1,049 - - - -
Net income 1,234 1,370 1,188 936.4 811.7 - 612.8 730.6 888.9 777.8 - - - -
Net margin 9.84% 11.75% 9.18% 7.07% 6.07% - 4.95% 5.52% 6.43% 5.88% - - - -
EPS 2 52.01 57.73 50.06 39.47 37.36 29.27 25.83 30.79 37.46 32.78 31.35 39.89 47.09 44.34
Dividend per Share - - - - - - - - - - - - - -
Announcement Date 22-01-29 22-05-05 22-07-27 22-10-28 23-01-25 23-05-05 23-07-27 23-10-27 24-01-24 24-05-02 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 3,325 - 8,816 10,246 - 1,047 - -
Net Cash position 1 - 655 - - - - 424 6,442
Leverage (Debt/EBITDA) 0.7012 x - 0.8818 x 1.093 x - 0.1058 x - -
Free Cash Flow 1 1,652 5,896 6,852 1,454 - 5,591 6,748 9,173
ROE (net income / shareholders' equity) -7.83% 18.8% 52.2% 36.1% - 25.8% 27% 26%
ROA (Net income/ Total Assets) - - 13.3% - - - - -
Assets 1 - - 28,631 - - - - -
Book Value Per Share 2 207.0 249.0 367.0 497.0 - 679.0 821.0 -
Cash Flow per Share 153.0 316.0 362.0 302.0 - - - -
Capex 1 1,990 1,606 1,746 5,714 - 2,694 2,781 2,975
Capex / Sales 6.27% 4.88% 3.96% 11.05% - 4.63% 4.3% 4.18%
Announcement Date 20-05-26 21-05-05 22-05-05 23-05-05 24-05-02 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
7,971 INR
Average target price
7,708 INR
Spread / Average Target
-3.30%
Consensus
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