Financial Performance Highlights

Revenue Performance:

  • Achieved highest ever quarterly revenue of ₹1,358 crore
  • Year-over-year growth of 64.9% (vs. ₹824 crore in Q1 FY26)
  • Quarter-over-quarter growth of 9.8%
  • Fifth consecutive quarter of 60%+ revenue growth

Order Volume:

  • Handled 24.7 crore orders combined in express parcel and hyperlocal segments
  • Year-over-year growth of 83.3% (vs. 13.5 crore orders in Q1 FY26)
  • Quarter-over-quarter growth of 9.2%

Segment Performance:

  • Express Parcel revenue grew 87.3% YoY and 7.9% QoQ
  • Hyperlocal revenue grew 53.0% YoY and 17.0% QoQ

Profitability Metrics:

  • Ind AS EBITDA: ₹92 crore (6.8% margin), representing 267% YoY growth and 370 bps margin improvement YoY
  • Adjusted EBITDA: ₹67 crore (4.9% margin), representing 181% YoY growth and 204 bps margin improvement YoY
  • Net Profit (PAT): ₹65 crore (4.8% margin), representing 716% YoY growth and 380 bps margin improvement YoY
  • Net profit represents the highest quarterly PAT in company history

Comparative Financial Metrics:

| Metric | Q1 FY27 | Q1 FY26 | YoY Growth | QoQ Growth |

| Revenue (₹ Cr) | 1,358 | 824 | 64.9% | 9.8% |

| Orders (Cr) | 24.7 | 13.5 | 83.3% | 9.2% |

| Ind AS EBITDA (₹ Cr) | 92 | 25 | 264.1% | 14.2% |

| Ind AS EBITDA Margin | 6.8% | 3.1% | +370 bps | +21 bps |

| Adj. EBITDA (₹ Cr) | 67 | 24 | 181.1% | 15.3% |

| Adj. EBITDA Margin | 4.9% | 2.9% | +204 bps | +23 bps |

| Net Profit (₹ Cr) | 65 | 8 | 715.9% | 17.2% |

| Net Profit Margin | 4.8% | 1.0% | +380 bps | +31 bps |

Technology Initiatives

Shadowfax 360:

  • Self-serve digital shipping platform for SMEs
  • 1,200+ transacting SMEs in Q1 FY27
  • Compounding growth week on week

Delivery Partner Buddy:

  • AI copilot for delivery partners
  • Handles approximately 16,000 rider conversations daily
  • ~97% resolved without human intervention

Vision AI:

  • Catches ~40% of mismatched reverse pickups at customer doorstep
  • Operates at ~35x lower inference cost than frontier models

Expansion and Capital Expenditure

Network Expansion:

  • Reached 16,372 pin codes in Q1 FY27 (largest pin code addition in company history)
  • Operating 5,095 touchpoints
  • 53 lakh square feet of operating space
  • Expansion focused on deeper penetration into Bharat's towns and villages

Capital Investment:

  • Invested approximately ₹60 crore in capex during the quarter
  • Focus on strengthening national infrastructure
  • Expansion of last mile network
  • Addition of sort-centre automation and capacity

Management Commentary

Abhishek Bansal, Co-founder and CEO, commented: "Q1 has been our best quarter yet - the most profitable in our history, with sequential growth sharper than in Q4 and growth momentum still building. We added more capacity and opened more pin codes than in any quarter in our history, taking our operating space to 53 lakh square feet. That capacity is already in place for the quarters ahead. From here, we scale it - deeper into Bharat, faster on service and stronger on margins. We are building one of India's largest and most impactful logistics companies, and the best of that story is still ahead of us."

Company Background

Shadowfax Technologies Limited (formerly Shadowfax Technologies Private Limited) is India's fastest growing third-party logistics company of scale, founded in 2015. The company leverages technology to facilitate digital commerce in India, serving enterprise clients including horizontal and vertical ecommerce, quick commerce, food marketplace, and on-demand mobility companies. Services include express forward parcel, reverse pickups, hand-in-hand exchange, quick commerce, and on-demand hyperlocal deliveries.