Delhivery, a leading logistics unicorn, has appointed Prashant Gazipur as Senior Vice President for Operations, marking a significant addition to its leadership team. Gazipur, a seasoned executive with extensive experience in the logistics sector, will focus on capacity building and enhancing the efficiency of Delhivery’s pickup and delivery operations.
Before joining Delhivery, Gazipur held prominent roles at Ecom Express Limited, where he served as the Country Head (Operations) and Chief Process Officer. His career also includes leadership positions at renowned companies like Paytm and Amazon, underscoring his deep expertise in operations and process management.
Strategic Leadership Changes Amid Major Developments
Gazipur’s appointment comes at a pivotal time for Delhivery, as the company navigates several strategic initiatives and market developments. Recently, the Canada Pension Plan Investment Board (CPPIB) divested its 3.18% stake in Delhivery, selling 2.34 crore shares for INR 910.2 crore. This move highlights ongoing shifts in the company’s shareholder structure, as Delhivery continues to refine its operational strategy.
In a related development, Delhivery expanded its Employee Stock Option Plan (ESOP) pool by allocating over 6.49 lakh stock options. This expansion aligns with the company’s commitment to incentivizing its workforce and fostering long-term growth. Furthermore, the board of Delhivery has approved alterations to the capital clause of its Memorandum of Association (MoA), aiming to reclassify unutilized preference share capital into equity share capital. This change, pending shareholder approval at the upcoming annual general meeting, is a strategic move to optimize the company’s financial structure.
Expanding Horizons: Delhivery’s Foray into Air Freight and Drone Technology
In addition to these internal developments, Delhivery is poised to enter the freight air transportation sector, further diversifying its logistics portfolio. On July 3, the company received approval from the Ministry of Corporate Affairs (MCA) to establish a drone subsidiary named ‘Delhivery Robotics India Private Limited.’ This new entity will offer Drone as a Service (DaaS) for shipment movement and remote sensing, positioning Delhivery at the forefront of innovation in logistics technology.
Financial Performance and Future Outlook
Despite reporting a consolidated net loss of INR 69 crore in the March quarter, following its first profitable quarter in Q3 FY24, Delhivery remains focused on its long-term growth strategy. The appointment of Prashant Gazipur and the company’s ongoing initiatives underscore its commitment to strengthening operations and exploring new opportunities in the rapidly evolving logistics landscape.
As Delhivery continues to enhance its operational capabilities and expand into new service areas, the company is well-positioned to maintain its leadership in the Indian logistics sector. The strategic decisions made today will likely shape the future of Delhivery, driving innovation and efficiency across its extensive network.
