Trainer Gai Waterhouse says her excitement is sky-high after Sir Delius produced a fighting victory in the Group 1 Underwood Stakes at Caulfield.

The $2.10 favourite looked beaten turning for home but rallied under Craig Williams to edge out Buckaroo ($4.80) by a long neck, with Golden Path ($21) flashing late for third.

It was Waterhouse and co-trainer Adrian Bott’s third Underwood in four years, following Alligator Blood’s back-to-back wins in 2023 and 2024. The stable purchased Sir Delius with the Melbourne Cup in mind, and Waterhouse could barely hide her delight.

“It’s the most exciting thing I’ve seen in years,” she said. “He was just fabulous.”

Sir Delius will head to the Might And Power Stakes before tackling the Cox Plate and Melbourne Cup.

Williams praised his mount’s determination.

“He’s just such a weapon … he laid back his ears and we got the win today,” he said.