Delhivery Boosts ESOP Pool: Adds 75,000 More Stock Options for Employees

Delhivery, a leading Indian logistics company, has made significant announcements regarding employee incentives, a new business venture, and financial results. Here's a breakdown of the key developments:

Employee Stock Options (ESOPs):

• Delhivery granted 75,000 stock options to eligible employees under its ESOP 2012 plan.
• The vesting period for these options ranges from 12 to 36 months, with staggered vesting schedules.
• The exercise price for these options is set at INR 1 per share, and exercised shares will not have a lock-in period.

Financial Performance:

• Delhivery reported a consolidated net loss of INR 69 crore in Q4 FY24, a shift from a net profit in the previous quarter.
• Operating revenue also declined by 5% sequentially in Q4 FY24, attributed to lower volumes in express parcels and cross-border services.

New Subsidiary: Delhivery Robotics India

• Delhivery established a new wholly-owned subsidiary, Delhivery Robotics India.

• This new venture will focus on:
• Manufacturing drones for global sales.
• Providing freight air transportation services.
• Offering "Drone as a Service" (DaaS) for deliveries and remote sensing.

Leadership Change:

• Sandeep Kumar Barasia, Chief Business Officer and Executive Director, resigned from Delhivery citing personal reasons.

Stock Market Performance:

• Despite the Q4 loss, Delhivery's stock price closed slightly higher (0.78%) at INR 453.85 on the BSE on Friday, May 17th.