Unicommerce Q2 FY27 Revenue Up 15% YoY

Revenue: ₹59.1 crores, representing 15% year-on-year growth (vs. ₹51.4 crores in Q2 FY26)
Adjusted EBITDA: ₹10.0 crores (vs. ₹11.4 crores in Q2 FY26)
Adjusted EBITDA Margin: 17% (vs. 22.2% in Q2 FY26)
Profit After Tax: ₹6.4 crores (vs. ₹5.8 crores in Q2 FY26)
Cash Flow from Operations: ₹11.6 crores, representing 20.6% year-on-year growth

Revenue: ₹110.4 crores, representing 14.7% year-on-year growth (vs. ₹96.3 crores in H1 FY26)
Adjusted EBITDA: ₹18.1 crores
Adjusted EBITDA Margin: 16.4%
Profit After Tax: ₹11.1 crores

Uniware:

Delivered double-digit year-on-year growth in Q2 FY27
Added 121 enterprise clients in Q2 FY27 (vs. 103 clients in Q2 FY26), representing 17.5% growth
International business contributes approximately 6% of Uniware revenues (vs. 3% at time of listing)
International business is profitable and growing faster than domestic business
Uniware adjusted EBITDA margin: 36% in Q2 FY27

Shipway:

Grew 15.7% year-on-year in Q2 FY27
Crossed ₹100 crores in annualized revenue run rate
Gross margin trends around 20% (industry benchmark)
Currently has less than 5% market share in estimated ₹4,000 crores courier aggregation market

Newer Offerings: UniReco and UniCapture modules crossed annualized revenue run rate of over ₹3 crores, contributing ~2.5% of Uniware revenues
Client Adoption: More than 150 clients using UniReco and UniCapture products
7-8% of Uniware enterprise clients use UniReco
5-6% use UniCapture
AI Innovation: Launched DNA, second-generation AI companion that identifies signals and potential anomalies, enabling automated corrective actions
Beta Launch: DNA rolled out to 10-15 customers, currently offered for free

Three key growth levers being pursued:

1. New Client Acquisition: Strengthening sales and marketing capabilities

2. Expanding Existing Relationships: Upselling newer modules (UniReco, UniCapture) and cross-selling Shipway offerings

3. AI-led Product Innovation: Expanding product capabilities in breadth and depth

Client Overlap: Approximately 10% client overlap between Uniware and Shipway
Volume Contribution: 20-25% of Shipway shipment volumes generated by Uniware clients
Market Leadership: More than double the size of next player in e-commerce operations management
Pricing Premium: 50% more expensive than any other player in the market

Peak Processing: 60 lakh transactions processed on a single day during Diwali season
Quick Commerce: 2x increase in quick commerce peak processing
Transaction Mix: 45-50% of client base using B2B and quick commerce offerings

Cash and Bank Balances: ₹104.4 crores as of Q2 FY27 (vs. ₹63.4 crores as of Q2 FY26), representing 65% year-on-year growth
Strong Balance Sheet: Supported by continued cash generation

Uniware: Confident of delivering >15% year-on-year revenue growth from Q4 FY27 onwards
Shipway: Expect year-on-year revenue growth to accelerate to >20% from Q4 FY27 onwards
Profitability: Pace of incremental investments to moderate in second half of FY27
Shipway expected to achieve adjusted EBITDA profitability starting Q3 FY27
Shipway expected to achieve PAT profitability starting Q4 FY27
Margins: Expect consolidated profitability and margins to improve during H2 FY27 supported by revenue growth and operating leverage
Long-term: Target to grow business 5x from current levels with steady-state adjusted EBITDA margins of 20%+

M&A Approach: Patient approach focusing on opportunities adjacent to current offerings
M&A Criteria: Should make sense for existing customers, good product, good team, profitable or path to profitability, reasonable valuation
Cash Utilization: Best utilization of cash is for strategic M&A to accelerate journey

Lower tax expense in H1 FY27 due to recognition of deferred tax benefits related to Shipway business turning profitable

Management: Mr. Kapil Makhija (Managing Director and CEO), Mr. Anurag Mittal (CFO)
Advisors: Strategic Growth Advisors (Investor Relations Advisors)