Delhivery vs Mahindra Logistics: Share Price, Comparison and Key Differences

Delhivery MCap Rs 35,198 Cr, PE 230.34x (thin earnings), ROE 1.84%, D/E 0.15. Mahindra Logistics MCap Rs 4,112 Cr, PE 85.99x, ROE 0.28% (near breakeven), D/E 0.55.

Updated: 10 Aug 2026 • 2:07 pm

Posted by:

Delhivery vs Mahindra Logistics: Share Price, Comparison and Key Differences

Delhivery vs Mahindra Logistics is a comparison Indian logistics investors look up when evaluating two listed third-party logistics (3PL) companies in different segments. Delhivery is India's largest fully integrated logistics company – combining express parcel, freight, supply chain management and cross-border services – that went public in 2022. Mahindra Logistics is a Mahindra Group company providing integrated supply chain, 3PL warehousing, freight and auto logistics services. Both are in the early stages of building profitable logistics platforms at scale.

This Delhivery vs Mahindra Logistics article covers reach and market position, key products, latest declared results and stock valuation. The Delhivery vs Mahindra Logistics data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

Table of Contents

Delhivery vs Mahindra Logistics: Reach and Market Position

On the Delhivery side of the Delhivery vs Mahindra Logistics comparison, Delhivery operates 24 automated sort centres, 3,500+ delivery centres and 20,000+ pincode coverage across India with an express parcel network serving e-commerce, D2C brands and SMEs. Market capitalisation is Rs 35,198 Cr.

Click Here – Get Free Investment Predictions

On the Mahindra Logistics side of the Delhivery vs Mahindra Logistics comparison, Mahindra Logistics provides 3PL warehousing and distribution to automotive (Mahindra Group and third-party), consumer goods and e-commerce clients. Market capitalisation is Rs 4,112 Cr.

Delhivery vs Mahindra Logistics: Key Products and Business Mix

In the Delhivery vs Mahindra Logistics product comparison, Delhivery offers: Delhivery earns from express parcel delivery, partial truckload, full truckload, supply chain management and cross-border services. EPS is Rs 2.04. PE is 230.34x (near-breakeven earnings), ROE 1.84 percent, D/E 0.15.

For Mahindra Logistics in this Delhivery vs Mahindra Logistics breakdown: Mahindra Logistics earns from 3PL warehousing, transport and enterprise mobility. EPS is Rs 4.82. PE is 85.99x, ROE 0.28 percent (essentially breakeven), D/E 0.55.

Delhivery vs Mahindra Logistics: Latest Results

The Delhivery vs Mahindra Logistics results for Delhivery: Delhivery has a market cap of Rs 35,198 Cr and PE of 230.34x. ROE is 1.84 percent – thin, reflecting the early-scale logistics business. Delhivery is 8.6 times larger than Mahindra Logistics.

The Delhivery vs Mahindra Logistics results for Mahindra Logistics: Mahindra Logistics has a market cap of Rs 4,112 Cr and PE of 85.99x. ROE is 0.28 percent – essentially breakeven. Both logistics companies are in the thin-earnings phase typical of capital-heavy 3PL businesses building network scale.

Compare Delhivery and Mahindra Logistics Fundamentals on the Univest Screener

Delhivery vs Mahindra Logistics: Stock and Valuation

The Delhivery vs Mahindra Logistics stock comparison uses the latest available market data from Groww. Investors tracking Delhivery vs Mahindra Logistics should verify current prices on NSE or BSE before trading.

Delhivery vs Mahindra Logistics at current valuations: Delhivery trades at Rs 35,198 Cr market cap, PE 230.34x, ROE 1.84 percent. Mahindra Logistics trades at Rs 4,112 Cr market cap, PE 85.99x, ROE 0.28 percent. Both have very high PE multiples reflecting thin earnings in the logistics scaling phase. Delhivery is far larger with more diversified logistics capabilities.

Delhivery vs Mahindra Logistics: Quick Comparison Table

The Delhivery vs Mahindra Logistics comparison table below summarises the key metrics covered in this article side by side.

Parameter	Delhivery	Mahindra Logistics
Sector	Integrated logistics: express parcel + freight + SCM	3PL: warehousing + distribution + auto logistics
Market Cap	Rs 35,198 Cr	Rs 4,112 Cr
P/E Ratio	230.34x (near breakeven)	85.99x (near breakeven)
ROE	1.84%	0.28% (near breakeven)
Debt to Equity	0.15	0.55
Profitability	Approaching breakeven	Near breakeven
Network	24 sort centres, 20,000+ pincodes	Warehouses + automotive plants

Conclusion

The Delhivery vs Mahindra Logistics comparison above covers the key data points on reach, products, results and valuation. Delhivery vs Mahindra Logistics covers two listed logistics companies at very different scale points. Delhivery is India's largest integrated logistics company scaling toward profitability with network density advantages. Mahindra Logistics is a Mahindra Group 3PL specialist with automotive and e-commerce clients. Delhivery vs Mahindra Logistics investors should review EBITDA margins, shipment volumes, per-shipment cost trends and freight market share. Delhivery vs Mahindra Logistics are both pre-profitability logistics investments – consult a SEBI-registered advisor before investing. Delhivery vs Mahindra Logistics each benefit from India's rising e-commerce and supply chain formalisation trends.

Download the Univest iOS App or Univest Android App to track Delhivery and Mahindra Logistics live price and get daily stock recommendations.

Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What does Delhivery do?

Ans. Delhivery is India's largest integrated logistics company offering express parcel delivery, partial and full truckload freight, supply chain management (3PL warehousing) and cross-border international logistics.

What does Mahindra Logistics do?

Ans. Mahindra Logistics provides third-party logistics services including warehouse management, distribution, freight management and enterprise mobility (employee transportation). It serves the Mahindra Group and external clients.

Why are Delhivery and Mahindra Logistics near breakeven?

Ans. Logistics is capital-intensive with thin margins. Both companies are in the scale-building phase – investing in infrastructure, technology and headcount before network density drives operating efficiency and profitability.

Is Delhivery an e-commerce logistics company?

Ans. Delhivery is a major express parcel partner for e-commerce companies including Meesho, Flipkart and D2C brands. It is diversifying beyond e-commerce into SME freight and supply chain.