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Datum Charts

After a Year of Flat Volumes, Delhivery Returns to Double-Digit Growth

Delhivery’s express parcel shipments surged 33% YoY in Q2FY26, marking a clear shift from the sluggish volume trends of FY25. The rebound underscores renewed strength in India’s e-commerce logistics cycle and early signs of operating leverage returning to the network.

,   and  Datum Intelligence
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Table of Contents

After nearly four quarters of flat growth, Delhivery’s express parcel segment registered a strong turnaround in FY26. Shipments rose from 208 million in Q1FY26 to 246 million in Q2FY26, translating to a 33% year-on-year increase - the sharpest since early FY24. This rebound follows a muted FY25, when growth remained subdued at 1–2% YoY amid weak e-commerce demand and a high base.

What it Means

The sharp pickup signals reviving e-commerce activity and improved operational throughput across Delhivery’s network. Stronger festive season volumes, restocking by online sellers, and stabilizing yields have driven higher utilization and efficiency. Sustaining this momentum through H2FY26 will be key for achieving profitability leverage and margin recovery.

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