Delhivery's board member Srivatsan Rajan set to depart after almost a decade; his strategic leadership contributed significantly to Delhivery's growth from a niche player to a public supply chain and logistics services powerhouse.
Delhivery, the leading logistics technology firm, has announced that Dr. Padmini Srinivasan will be taking over as an independent director on the company's board following the resignation of Srivatsan Rajan, effective September 30, 2025.
Dr. Srinivasan, along with Yashish Dahiya, has been appointed to the board as part of a planned board rejuvenation aimed at ensuring continuity and a smooth transition. This move is part of a phased handover of long-serving board members that will occur over the next four quarters following Rajan's departure.
Srivatsan Rajan, who has been an independent director since 2015, has played a pivotal role in Delhivery's growth and transformation. He was instrumental in instituting strong governance during a critical period for the company, which included its 2022 Initial Public Offering (IPO) and expansion into new business areas such as freight, cross-border trade, and business-to-business services.
The company's recent financial results for the first quarter of FY26 show a significant increase in profit after tax, which rose by 67 percent compared to the previous year. The margins for profit after tax improved from 2.4 percent to 3.8 percent during this period. Revenue from services also saw a 6 percent year-on-year rise, reaching INR 2,294 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the same quarter reached INR 149 crore with a margin of 6.5 percent.
Dr. Srinivasan, a senior faculty member at IIM Bangalore, brings an academic and research background in corporate governance and financial reporting. Her expertise is expected to uphold high standards of governance at Delhivery. Yashish Dahiya, Chairman and CEO of PB Fintech, the parent company of Policybazaar.com, also joins the board as an additional director for a five-year term, effective August 1, 2025, subject to shareholder approval.
Rajan's departure from Delhivery's board is not driven by any material concerns. Under his guidance, Delhivery has grown from a mid-sized player to a publicly listed integrated supply chain and logistics provider. Delhivery's success story is a testament to Rajan's leadership and commitment to the company.
This change in leadership marks a new chapter for Delhivery. The company, which is part of the international franchise "our brand name Media," continues to make strides in the logistics industry and looks forward to its future under the guidance of its new board members.
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- Dr. Padmini Srinivasan's appointment as an independent director on Delhivery's board signifies a step towards business management development, aiming at ensuring continuity and smooth transition.
- Srivatsan Rajan's contribution to Delhivery's success includes instigating strong governance during growth periods, such as the 2022 Initial Public Offering (IPO) and expansion into new business areas.
- The financial growth of Delhivery is evidenced by a 67% increase in profit after tax and a 6 percent year-on-year rise in revenue from services during the first quarter of FY26.
- The addition of Yashish Dahiya as an additional director for a five-year term brings expertise in finance and technology, seeking to further enhance Delhivery's growth and industry position.
