Shadowfax Technologies has reported its best-ever quarterly financial performance for the first quarter of FY27. The logistics company posted a sharp rise in both revenue and profit, supported by strong growth in e-commerce deliveries, quick commerce, and better operational efficiency.
The company has now recorded revenue growth of more than 60% for five consecutive quarters. Along with expanding its delivery network across India, Shadowfax is also investing in automation and artificial intelligence (AI) to improve its services and strengthen its position in the country’s fast-growing logistics market.
Shadowfax Reports Strong Revenue and Profit Growth in Q1 FY27
For the quarter ended June 2026, Shadowfax reported a consolidated net profit of ₹65.40 crore, compared to ₹8.02 crore in the same quarter last year. This is a year-on-year increase of nearly eight times. On a quarter-on-quarter basis, profit also increased by 17.2%.
Revenue from operations rose 64.9% year-on-year to ₹1,358.12 crore. Including other income of ₹21.06 crore, the company’s total income reached ₹1,379.18 crore during the quarter.
The company also improved its operating performance. Operating EBITDA stood at ₹91.8 crore, while the EBITDA margin increased to 6.8%, up from 3.1% in the same quarter last year. Adjusted EBITDA came in at ₹67 crore, showing that the company managed to improve profitability even after higher fuel and employee costs.
Total expenses increased by 60% to ₹1,313.78 crore, mainly because of business expansion and higher shipment volumes. Employee benefit expenses rose to ₹123.56 crore, while depreciation and amortisation expenses stood at ₹39.76 crore. Basic earnings per share (EPS) for the quarter was ₹1.11.
During the quarter, Shadowfax completed 24.7 crore deliveries, an increase of 83.3% compared to the same period last year.
Express Parcel Business Leads Growth as Delivery Network Expands
The company’s express parcel business remained its biggest growth driver. Revenue from this segment reached ₹997 crore, growing 87.3% year-on-year as online shopping and e-commerce deliveries continued to rise.
The hyperlocal delivery business, which supports quick commerce and food delivery platforms, generated ₹272 crore in revenue after recording 53% annual growth.
However, the SME and personal courier segment reported weaker performance, with revenue falling 22% to ₹89 crore during the quarter.
Shadowfax continued to expand its delivery network across India. The company added nearly eight new PIN codes every day, taking its total coverage to 16,372 PIN codes. It now operates 5,095 touchpoints across the country with an operating area of more than 53 lakh square feet.
To support future growth, Shadowfax invested around ₹60 crore in capital expenditure during the quarter. The investment was mainly used to expand last-mile delivery operations and automate sorting centres.
The company also introduced new technology to improve efficiency. Its newly launched Shadowfax 360 platform helped onboard more than 1,200 SMEs during the quarter.
Another AI-based tool, Delivery Partner Buddy, now handles around 16,000 conversations with gig workers every day and resolves nearly 97% of their queries without human support.
Shadowfax has also deployed Vision AI, which helps identify incorrect reverse pickup requests at customers’ locations, making the process faster and reducing operating costs.
Leadership Changes and Investor Activity Mark the Quarter
The company also announced a few important corporate developments during the quarter.
Chief Product Officer Nitesh Lohiya resigned for personal reasons, and his resignation will take effect from August 7, 2026. Earlier this year, Shadowfax appointed Sachin Dixit as Head of Corporate Development and Investor Relations.
During the quarter, Shadowfax acquired the remaining 10.42% stake in Criticalog India Private Limited for ₹7.61 crore, making it a wholly owned subsidiary.
Investor activity also increased after the one-year lock-in period for pre-IPO shareholders ended. Flipkart reduced its stake in the company from 7.29% to 1.52% by selling shares in the open market. Eight Roads Investments also sold part of its holding through a block deal.
At the same time, ICICI Prudential Mutual Fund increased its stake to 8.56%, showing continued confidence in the company’s future growth.
Shadowfax currently claims a 28–30% share of India’s third-party logistics (3PL) market. The company has built a strong presence in quick commerce and reverse logistics while continuing to expand its customer base across different industries.
After the company announced its Q1 FY27 results, Shadowfax shares jumped nearly 12% and touched a new 52-week high of ₹246.80. Since listing earlier this year, the stock has gained more than 115%, taking the company’s market value to over ₹14,000 crore.