- 06 May 2022
- ICICIdirect Research
BlueDart reports good set of Q4FY22 numbersBLUEDART - 6055 Change: -25.00 (-0.41 %)
News: BlueDart Q4FY22 revenues grew 20% YoY to Rs 1166 crore, with healthy mix of volume growth and realisation improvement, despite challenging environment. Subsequently, EBITDA grew 18% to Rs 292 crore, led by 25% EBITDA margin (60 bps contraction YoY although Gross margins contracted 282 bps). PAT, on the other hand grew 52% to Rs137 crore, as strong operating was further accelerated by lower depreciation and interest expense.
Views: With improvement receivable management and healthy cash flows, the company with its wholly owned subsidiaries has become net debt free. On a full year basis the volumes grew 42% to 264 million shipments (up 30% on tonnage to 9.32 lakhs tonnes. BlueDart has been a beneficiary of flight to quality trend post pandemic, which resulted in higher tonnage growth, backed by greater digital connect with customers and focus on servicing bigger customers and brands.