Logistics giant Delhivery said it has dissolved its wholly-owned UK subsidiary Delhivery Corp.

“…we would like to inform you that Delhivery Corp Limited (“Delhivery Corp”), incorporated under the law of United Kingdom, a wholly owned subsidiary of Delhivery Limited (“the Company”), has been dissolved with effect from June 10, 2025,” Delhivery said in an exchange filing on June 10.

As per the filing, this is in continuation to a disclosure made by the logistics unicorn on the BSE in May last year pertaining to the liquidation of its UK-based subsidiary.

Back then, Delhivery said in the filing that its board of directors approved the initiation of liquidation of Delhivery Corp. It further added that Delhivery Corp is not a material subsidiary of the company and the dissolution will not affect its revenue.

In the same month last year, Delhivery said in a separate filing that it would be , to manufacture drones and provide freight air transportation services.

The company then said that its board approved the proposal to set up the subsidiary with an authorised share capital of INR 5 Cr. The subsidiary will primarily offer drone as a service (DaaS) for shipment movement and remote sensing.

Founded in 2011 by Sahil Barua, Mohit Tandon, Bhavesh Manglani, Suraj Saharan and Kapil Bharati, Delhivery is a transportation, supply chain and logistics company. It competes against the likes of Xpressbees, Blue Dart, Flipkart’s Ekart Logistics and Amazon Shipping.

The logistics major reported profits in all four quarters of the fiscal year 2025 (FY25). In the fourth quarter of FY25, Delhivery reported as against a loss of INR 68.5 Cr in the year-ago quarter.

Sequentially, Delhivery’s profit nearly tripled from INR 25 Cr. With this, the company reported its maiden profitable fiscal year in FY25, with a net profit of INR 162.1 Cr as against a loss of INR 249.2 Cr in FY24.

In the quarter under consideration, its operating revenue grew 6% to INR 2,191.6 Cr in Q4 FY25 from INR 2,075.5 Cr in the year-ago quarter. However, it declined 9% quarter-on-quarter from INR 2,378.3 Cr.

In line with its PAT growth, the company’s EBITDA doubled YoY to INR 119 Cr during the quarter under review. EBITDA margin expanded to 5.4% from 2.2% in the year-ago quarter.

Including other income of INR 111.9 Cr, Delhivery’s total revenue stood at INR 2,303.5 Cr during the quarter under review.

A couple of months ago,

In April, the companies moved the Competition Commission of India (CCI) to seek approval for the deal. In a notice submitted to the regulator, the companies said that the proposed transaction will not lead to any change in “competitive dynamics” or cause “any appreciable adverse effect on competition” in the logistics sector.

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