Shadowfax Q2 FY27: Net Profit Jumps 422% to ₹68 Crore
- Revenue from operations rose 56.6% to ₹1,537.7 crore, the company’s highest quarterly revenue.
- 27.1 crore orders were processed during the quarter, up 69.7% year-on-year.
- Adjusted EBITDA rose 177% to ₹77 crore, with the margin improving to 5%.
Logistics company Shadowfax Technologies reported a consolidated net profit of ₹67.95 crore for the quarter ended September 30, 2026, up 421.9% from ₹13.02 crore in the corresponding quarter last year.
Revenue from operations rose 56.6% year-on-year to ₹1,537.70 crore from ₹982.11 crore in Q2 FY26, marking the company’s highest quarterly revenue. Including other income of ₹20.44 crore, total income stood at ₹1,558.14 crore, compared with ₹988.06 crore a year earlier.
On a sequential basis, net profit increased 3.9% from ₹65.40 crore in Q1 FY27, while operating revenue grew 13.2% from ₹1,358.12 crore.
Shadowfax said Q2 FY27 was its sixth consecutive quarter with year-on-year revenue growth above 55%. The company also noted that the festive sales season shifted into October this year, meaning Q2 did not benefit from the peak sale period.
Express Parcel and Hyperlocal Businesses Drive Growth
Shadowfax processed 27.1 crore orders across its express parcel and hyperlocal businesses during the quarter, up 69.7% year-on-year. Express parcel accounted for 21.7 crore shipments, while hyperlocal contributed 5.4 crore.
Revenue from the express parcel business increased 55.2% year-on-year to ₹1,096 crore, while shipment volumes in the segment grew 72% to 21.7 crore. Hyperlocal revenue increased 87.7% to ₹341 crore. Other logistics services contributed approximately ₹100 crore during the quarter.
The company said the increase in shipment volumes across its businesses helped improve operating leverage. Adjusted EBITDA rose 177% year-on-year to ₹77 crore, compared with ₹27.8 crore in Q2 FY26. The adjusted EBITDA margin expanded to 5% from 2.8% a year earlier.
Shadowfax also continued expanding its self-service shipping platform, Shadowfax 360. The platform crossed 6,700 transacting sellers within around 200 days of launch, with about two-thirds of these sellers coming through organic sign-ups without direct sales efforts, according to the company.
Shadowfax Expands Micro-Fulfilment and AI Operations
Shadowfax plans to expand its logistics infrastructure as shipment volumes increase. The company is developing a micro-fulfilment model for D2C brands and other ecommerce businesses, aimed at enabling same-day and next-day deliveries and, in selected use cases, delivery windows of around eight to 12 hours.
The company said its D2C business more than doubled year-on-year, while its share of the D2C market increased by two percentage points sequentially to more than 14%. It currently operates same-day and next-day services across more than 120 cities.
Shadowfax is also using an in-house technology system for network and route optimisation. According to the company’s Q2 presentation, its network connects more than 3,600 trucks and 5,566 touchpoints, with the optimisation system using operational data to adjust capacity and routing.
The company intends to continue expanding its seller network, particularly among D2C brands and small and medium businesses, while increasing delivery capacity and improving cost efficiency through technology and automation.