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SHADOWFAX TECHNOLOGIES LIMITED Earnings Release 2026
60343_rns_2026-05-14_a0a9a59d-1efc-4802-81dc-5eed5d3260e1.pdf
Earnings Release
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SHADOWFAX
Think ahead!
May 14, 2026
To
National Stock Exchange of India Ltd
Exchange Plaza, C/1, Block G,
Bandra Kurla Complex,
Bandra (East) Mumbai – 400 051
NSE Symbol: SHADOWFAX
BSE Limited
P J Towers,
Dalal Street,
Mumbai – 400 001
BSE Scrip Code: 544685
Dear Sir/ Madam,
Sub: Press Release
Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), please find enclosed the press release on the Audited (standalone and consolidated) Financial results for the quarter and year ended March 31, 2026.
The above information is also being made available on the website of the Company at https://www.shadowfax.in/investor-relations
Kindly take the above information on record.
For Shadowfax Technologies Limited
KRISHNAKANTH
VENKATA
GANGAVARAPU
Digitally signed by
KRISHNAKANTH VENKATA
GANGAVARAPU
Date: 2026.05.14 16:10:21
+05'30'
Name: Krishnakanth Venkata Gangavarapu
Designation: Company Secretary & Compliance Officer
ICSI Membership No. A17291
Encl.: As Above
Shadowfax Technologies Limited
(formerly known as Shadowfax Technologies Private Limited)
CIN - U72300KA2015PLC150324
Regd. Off: 3rd Floor, Shilpitha Tech Park, Sy No. 55/3 & 55/4, Outer Ring Road, Devarabisanahalli Village,
Bellandur, Varthur Hobli, Bangalore -560103, Karnataka, India
Website: www.shadowfax.in/ Tel: 080-64525653/ Email: [email protected]
SHADOWFAX
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P R E S S R E L E A S E
Shadowfax Crosses ₹100 Cr Annual PAT Milestone; FY26 Revenue at ₹4,202 Cr (+69% YoY), Q4 Revenue Surges 74% YoY to ₹1,237 Cr with Adj. EBITDA Margin Expanding to 4.7%
Bengaluru, 14th May, 2026: Shadowfax, India's fastest growing 3PL company of scale, announced its Q4 FY26 and full year FY26 audited performance.
During the year, the company fulfilled over 72 crore customer orders, while revenue crossed ₹4200 crores, reflecting a strong 69% YoY growth. Adjusted EBITDA stood at ₹159 crores, which more than doubled compared to FY25, underscoring the strength of the company's operating leverage and execution capabilities. Profit after tax (PAT) for the year came in at ₹112 crores, a significant increase from ₹6 crores in FY25, marking a sharp improvement in overall profitability.
Q4 FY26 Highlights | Record revenue growth, consistent margin expansion & ₹56 Cr PAT in Q4 FY26
Achieved highest ever quarterly revenue of ₹1,237 Cr with a growth of 73.6% YoY and 6.7% QoQ; supported by strong volume growth across service lines:
- Delivered 22.6 Cr orders combined in express parcel and hyperlocal with a shipment growth of 100.8% YoY and 10.0% QoQ
- Express Parcel revenue grew at 121% YoY and Hyperlocal revenue grew at 32% YoY
- IndAS EBITDA at ₹81 Cr (6.6% margin, 572% YoY growth), ~490 bps improvement YoY, 12th consecutive quarter of EBITDA profitability
- Adjusted EBITDA at ₹58 Cr (4.7% margin, 1,051% YoY growth), ~400 bps improvement YoY on account of strong operating leverage and efficiency gains
- PAT at ₹56 Cr (4.5% margin, 564% YoY growth), ~590 bps improvement YoY, highest in company history, matching 9M FY26 PAT in a single quarter
| Metric | Q4 FY26 | Q4 FY25 | YoY Growth | QoQ Growth |
|---|---|---|---|---|
| Revenue (₹ Cr) | 1,237 | 712 | 73.6% | 6.7% |
| Orders (Cr) | 22.6 | 11.3 | 100.8% | 10.0% |
| Ind AS EBITDA (₹ Cr) | 81 | 12 | 571.7% | 22.0% |
| Ind AS EBITDA Margin | 6.6% | 1.7% | +490 bps | +80 bps |
| Adj. EBITDA (₹ Cr) | 58 | 5 | 1,051% | 17.8% |
| Adj. EBITDA Margin | 4.7% | 0.7% | +400 bps | +40 bps |
| Net Profit (₹ Cr) | 56 | -10 | 563.5% | 60.1% |
| Net Profit Margin | 4.5% | -1.4% | +590 bps | +150 bps |
Shadowfax Technologies Limited
(formerly known as Shadowfax Technologies Private Limited)
CIN - U72300KA2015PLC150324
Regd. Off: 3rd Floor, Shilpitha Tech Park, Sy No. 55/3 & 55/4, Outer Ring Road, Devarabisanahalli Village,
Bellandur, Varthur Hobli, Bangalore -560103, Karnataka, India
Website: www.shadowfax.in/ Tel: 080-64525653/ Email: [email protected]
SHADOWFAX
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FY26 Full Year Highlights
Inflection year — Crossed ₹100 Cr PAT milestone, growth outpacing the market at scale, exceptional market share gains
- Delivered 72.6 Cr orders in FY26 with a shipment growth of 66.4% YoY
- Revenue for FY26 stands at ₹4,202 Cr, with a record revenue growth of 69.1% YoY
- Ind AS EBITDA for FY26 stands at ₹212 Cr | 5.0% margin | 277% YoY growth, ~270 bps improvement YoY
- Adjusted EBITDA at ₹159 Cr | 3.8% margin | 227% YoY growth, ~180 bps improvement YoY
- Net profit for FY26 at ₹112 Cr, up 1,639% YoY
- Net Cash Flow from Operating Activities of ₹350 Cr for FY26
- The Company's FY26 performance demonstrates consistent growth momentum alongside structural margin improvement and strong cash generation
Shadowfax 360
Enterprise-grade logistics, now accessible to every SME and D2C brand
(Website: https://shadowfax360.in)
- Launched Shadowfax 360, a self-serve digital shipping platform for SMEs and D2C brands with access to 15,000+ pin codes, flat-rate billing, and AI-driven RTO prediction
- Platform enables new customer acquisition at scale with no minimum order requirements, expanding the merchant base beyond enterprise and marketplace relationships
- Marks a strategic step toward revenue diversification, targeting online-first SMEs and D2C brands transitioning to owned-channel commerce
Strengthening National Infrastructure
Network capacity expanded and automated, infrastructure scaled to support the next phase of growth
- Launched OneNCR, our largest automated sortation center with 2.1 lakh sq. feet of operations space and processing capacity of 48,000 shipments per hour
- Expanded reach to 15,656 pin codes. With facilities now spread across 4,778 touchpoints spanning over 47 lakhs square feet of operating space, connected by 3,500+ trucks on a daily basis.
- Invested ₹185 Cr during FY26, in expanding network, automation of sort centers, capacity enhancement and automation.
- The result is a network that is faster, more reliable and scalable, purpose-built to capture the demand that lies ahead
Shadowfax Technologies Limited
(formerly known as Shadowfax Technologies Private Limited)
CIN - U72300KA2015PLC150324
Regd. Off: 3rd Floor, Shilpitha Tech Park, Sy No. 55/3 & 55/4, Outer Ring Road, Devarabisanahalli Village, Bellandur, Varthur Hobli, Bangalore -560103, Karnataka, India
Website: www.shadowfax.in/ Tel: 080-64525653/ Email: [email protected]
SHADOWFAX
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Commenting on the company's performance, Abhishek Bansal, cofounder and CEO of Shadowfax, said, "FY26 has been a defining year for the company as we strengthened the business across scale, profitability, and infrastructure. While the year marked our successful transition into a publicly listed company, it was equally important in terms of building long-term operational capacity for future growth.
During the year, we invested ₹185 crores in capex, primarily into sort centers, automation and last-mile infrastructure. Q4 was also the strongest quarter in the company's history across revenue, EBITDA, and PAT, giving us strong momentum as we enter the next phase of growth."
About Shadowfax
Founded in 2015, Shadowfax is a new-age, technology-led, third-party logistics company, and leverages technology to facilitate digital commerce in India. The company serves a wide category of enterprise clients including horizontals and non-horizontal ecommerce, quick commerce, food marketplace, and on-demand mobility companies, through a range of services that include express forward parcel, reverse pickups and hand-in-hand exchange, quick commerce and on-demand hyperlocal deliveries.
Shadowfax Technologies Limited
(formerly known as Shadowfax Technologies Private Limited)
CIN - U72300KA2015PLC150324
Regd. Off: 3rd Floor, Shilpitha Tech Park, Sy No. 55/3 & 55/4, Outer Ring Road, Devarabisanahalli Village,
Bellandur, Varthur Hobli, Bangalore -560103, Karnataka, India
Website: www.shadowfax.in/ Tel: 080-64525653/ Email: [email protected]