Delhivery Adds Namita Thapar & Sameer Mehta as Non-Executive Independent Directors To Its Board

Delhivery, India's largest fully integrated logistics service provider, has announced the appointment of Namita Thapar, Executive Director at Emcure Pharmaceuticals Limited, and Sameer Mehta, Co-Founder and CEO of boAt Lifestyle as Non-Executive Directors to the Board of the Company.

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Sameer Mehta & Namita Thapar join the Delhivery Board

Sameer graduated from Mumbai's Narsee Monjee College of Commerce and Economics with a B.Com. Along with co-founder Aman Gupta, he founded boAt in 2014, and he has led the company to become the nation's top consumer wearable technology brand. 

Thapar is the Executive Director of Emcure Pharmaceuticals, a global pharmaceutical company headquartered in Pune. It employs more than 10,000 people and has operations in more than 70 countries. She serves as the CEO of their India business, which generates about 8,000 crores in revenue annually. On the well-known television program "Shark Tank India," she is one of the Sharks.

In a filing with the exchanges, Delhivery said that the appointment will come into effect from February 17, 2025. This strategic move is expected to enhance Delhivery’s leadership with its extensive experience in high-growth businesses in the healthcare and wearable tech sectors. 

Commenting on the appointments, Sahil Barua, Managing Director and CEO said, "We’re excited to bring Namita and Sameer onboard. Namita's extensive experience in leading a high-growth business and innovating in a sector like healthcare brings a valuable perspective to our industry. Sameer brings more than two decades of entrepreneurial experience to Delhivery’s Board and we look forward to his insights on what consumers expect from brands and logistics in the decade to come."

Also Read: Shark Namita Thapar's Emcure Pharma Gets SEBI Approval For $3 Bn IPO

Liquidation of Bangladesh Subsidiary

Meanwhile, the company also announced plans to initiate liquidation of its Bangladesh subsidiary. “It may be further noted that Delhivery Bangladesh is not a material subsidiary of the company, and the dissolution of Delhivery Bangladesh will not affect the turnover/revenue of the company,” Delhivery said in an exchange filing. 

The company further said that Delhivery Bangladesh is a wholly owned subsidiary of Delhivery Singapore, which is a wholly owned subsidiary of Delhivery Limited. “However, contribution (of) Delhivery Bangladesh to the net worth of Delhivery Singapore is 1.46% and contribution Delhivery Singapore to the net worth of the company is 0.25%.”

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Q3 FY25 News 

Delhivery's consolidated net profit increased 114% to INR 24.98 Cr in Q3 FY25 from INR 11.7 Cr in the same period last year. Revenue from contracts with customers rose over 8% to INR 2,378.29 Cr during Q3 FY25 from INR 2,194.46 Cr in Q3 FY24.

Including other income of INR 98.66 Cr, the company’s total revenue stood at INR 2,476.96 Cr during the quarter ended December 31, 2024. The company’s EBITDA declined marginally to INR 102 Cr during the quarter under review from INR 109 Cr in Q3 FY24. 

Ahead of its Q3 earnings announcement, shares of Delhivery closed Friday’s (February 7) trading session 1.55% lower at INR 316.75 apiece on the BSE.

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