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From its inception in 2011, Delhivery has experienced remarkable growth, expanding its reach to over 18,600 pin codes and serving more than 30,000 businesses across India.
The company's growth story began impressively, with a staggering 84.9% year-on-year growth in Q2FY22, shipping 135 million parcels. This growth momentum continued into Q2FY23, peaking at an extraordinary 96.3% year-on-year increase, with 161 million shipments.
The most recent quarters paint a picture of a company transitioning from rapid expansion to a more stable growth pattern.
After reaching a peak of 201 million shipments in Q3FY24, Delhivery experienced its first year-on-year decline (-2.2%) in Q4FY24, shipping 176 million parcels.
The subsequent quarter (Q1FY25) saw a modest recovery with 183 million shipments, representing a marginal 0.5% year-on-year growth.
- Express Parcel shipments grew 4% sequentially to 183 million in Q1 FY25 from 176 million in Q4FY24
- Year on year growth in Q1FY25 grew by 0.5% to 183 million from 182 million in Q1FY24
The slower growth rates also reflect broader trends in India's e-commerce sector. As the market expands beyond major cities into tier 2 and tier 3 areas, the pace of growth naturally decelerates. This transition presents both opportunities and challenges for logistics providers like Delhivery.
