Analysis · Mobility & Logistics

Delhivery CEO criticises Amazon's logistics push

What they do

CEO Sahil Barua on Q4 FY26 earnings call called Amazon's third-party logistics expansion an 'old product in new wrapper'

Barua argued Amazon's external volumes are minuscule and captive networks are costlier than neutral 3PL providers

He said the current express logistics market structure with Delhivery, Blue Dart, and Shadowfax is 'sensible and appropriate'

Delhivery CEO Sahil Barua criticised Amazon's move to open its logistics network to third-party businesses, calling it an 'old product in new wrapper'.
He questioned the strategic value of Amazon's logistics expansion in India for non-marketplace orders.
Barua said external merchants on Amazon's network are 'absolutely minuscule' compared to Amazon's internal volumes.
He claimed last-mile delivery prioritisation on Amazon's network favours its own orders over third-party shipments.
Barua argued that captive first-party logistics networks are structurally more expensive than neutral 3PL providers.
He said the current express logistics market structure with Delhivery, Blue Dart, and Shadowfax is 'sensible and appropriate'.
Barua added there is no room for more large players in express logistics.
He also said companies are unlikely to return to an 'operating burn environment' in capex, referencing Ecom Express and XpressBees 'voluntarily set their balance sheets on fire' previously.

Amazon's logistics expansion in India directly competes with Delhivery's core business.
Barua's comments signal confidence in Delhivery's market position despite new competitive threats.
The remarks come as Delhivery reported strong revenue growth but flat profits.
Ecom Express, now part of Delhivery since April last year, adds scale and context to Barua's critique.

Delhivery provides logistics, parcel delivery, and supply chain solutions across India.
It operates a pan-India network for express parcel delivery and freight.
The company serves e-commerce, retail, and enterprise clients.
Delhivery generates revenue from transportation, warehousing, and related services.
It competes with Blue Dart, Shadowfax, and other logistics providers.
The company reported Q4 FY26 operating revenue of Rs 2,850 crore, up 30% year-on-year.