“Given our size, we will only see margins increase as operating leverage kicks in. This has no effect on Capex. This has no effect on Capex. The company has very low Capex, and along with the proceeds of the IPO, it has Rs 2,600 crore odd left over from last year. We are by far the most well-capitalized company in the space.”We are by far the most well-capitalized company in the space.” “We need to continue to drive both growth and profitability in the future. There is no question of focusing on one or the other,” says Sandeep Kumar Barasia, MD & Chief Business Officer, Delhivery. In terms of revenue, there is a 60% increase – a stronger path to profitability. Where do we go from here? Will growth balance profitability? Growth and profitability are not separate goals. Together they are what we have achieved this year. Despite our 60% growth in revenue, we were very efficient with our capital use and delivered very good operating margins. We can keep driving that forward. We can keep driving that forward. It’s a great opportunity. There is no reason to think it will stop at a company worth Rs 7,000 crores. A logistics company worth Rs 25,000-50,000 crore can be built in India, and that is what we need to do. Currently, we are going through a growth phase, which is driving some of these changes. Our business is driven by scale. We gain more and more operating leverage as we grow. Our aim should be to continue to grow and become more profitable in the future. Both should be considered equally.