Exclusive: Delhivery grants ESOP options to employees

While releasing its quarterly and annual financial results for FY23, logistics, and supply chain firm Delhivery has granted ESOP options to its employees.

The board at Delhivery has passed a resolution to grant 20,34,839 stock options under the Delhivery Employees Stock Option Plan 2012 to the employees of the company and its subsidiaries, according to the company’s regulatory filings with the National Stock Exchange.

The granted ESOP options are worth around Rs 74 crore and every option will be converted into equity shares, as per filings.

Out of the total ESOP granted in this tranche, 19,37, 739 options are being given to employees of the company while the rest options are available for the employees working in subsidiaries.

For context, Delhivery has nine subsidiaries including Delhivery USA LLC, Delhivery Corp Limited, and Orion Supply Chain Private Limited among others.

Delhivery went public in May last year with an opening price of Rs 495.2 per share. Since then, the company has acquired two startups - Algorhythm Tech in December 2022 and Vinculum this month.

Delhivery is a full stack logistics service provider encompassing express parcel transportation, PTL freight, TL freight, cross-border operations, supply chain management, and technology solutions.

It claims to have fulfilled over 2 billion shipments since inception covering over 18,500 pin codes and today works with over 27,000 customers, including large & small e-commerce participants, SMEs, and other enterprises & brands.

During FY23, Delhivery registered a flat growth of 5% and managed to cross Rs 7,200 crore in revenue. Its losses, however, remained stable at Rs 1,007 crore during the said fiscal as compared to Rs 1,011 crore in FY22.

On a quarterly basis, Delhivery recorded Rs 1,860 crore revenue in Q4 of FY23, while the losses reduced by 18.9% to Rs 158.6 crore during the same period.