Delhivery Ltd. has received approval from the Competition Commission of India (CCI) to acquire a near-complete stake in rival logistics player Ecom Express Limited. The proposed transaction, first announced on April 5, 2025, involves the purchase of at least 99.4% of Ecom Express’s issued and paid-up share capital on a fully diluted basis, for a total consideration of up to ₹1,407 crore.

The green signal from the CCI marks a critical step forward for the deal, which is expected to significantly reshape India’s e-commerce logistics landscape by consolidating two major players in the last-mile delivery space. 

This acquisition, once completed, will strengthen Delhivery’s presence in high-growth, technology-driven delivery networks, especially in Tier 2 and Tier 3 cities where Ecom Express has built deep operational strength. 

It also aligns with Delhivery’s strategy to expand market share, streamline operations, and reduce overlaps in delivery infrastructure.

Post the announcement, Delhivery’s shares surged up to 2%, reaching an intraday high of ₹368.25. 

About Delhivery

Delhivery is one of India’s largest logistics and supply chain companies, offering end-to-end services across parcel delivery, freight, warehousing, and cross-border logistics. With a tech-first approach and nationwide reach, it serves both large enterprises and e-commerce platforms across over 18,000 pin codes.

FY25 Results

Delhivery reported its first full-year profit in FY25, posting a net profit of ₹162 crore compared to a loss of ₹249 crore in FY24. Annual revenue rose nearly 10% to ₹8,932 crore, driven by growth in its part-truckload business and operational efficiencies. In Q4, the company reported a profit of ₹73 crore and EBITDA margin of 5.4%, marking a sharp turnaround from losses a year ago.

Let’s take a look at its Factor Analysis scores:

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