Provides software-as-a-service that runs e-commerce operations for brands selling online, through three platforms: Uniware for order, warehouse and inventory management, Shipway for shipping and logistics, and ConvertWay. The company describes itself as the "operating system for eCommerce operations" and the system of record for mission-critical workflows. In FY26 it onboarded 450+ enterprise clients — its highest ever — taking the total client base to 8,000+ across India, Southeast Asia and the Middle East, with peak throughput of 55 lakh units per day and 350+ platform integrations. Customers span footwear (Ajanta), menswear (The Bear House), solar manufacturing (Waaree Energies) and quick-commerce distribution (Swiggy Networks). The business is people-intensive — employee costs are 33.5% of revenue and other operating expenses 49.1%, while materials are nil and capex is just 0.3% of revenue, leaving an asset-light model. The international business turned profitable in FY26 and is growing faster than India, contributing roughly 6-7% of revenue. Uniware's stand-alone adjusted EBITDA margin expanded from 25% in FY25 to 37.5% in FY26, while group adjusted EBITDA margin for FY26 was 21.5%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Uniware, Shipway, ConvertWay. Asset-light, multi-platform eCommerce SaaS with people-heavy operating costs.
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 135 | 204 |
| EBITDA (ex other income) | 26 | 35 |
| margin % | 19.6 | 17.3 |
| Owners' profit | 18 | 20 |
| EPS, as reported (₹) | 1.60 | 1.79 |
| ROE % · ROCE % | 25.1 · 28.3 | 10.6 · 14.2 |
| Debt / equity (x) | 0.01 | 0.00 |
| Cash from operations | 28 | 47 |
| Capex | (0) | (1) |
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 33 | 45 | 45 | 51 | 56 | 52 | 51 |
| Profit before tax | 9 | 5 | 5 | 8 | 10 | 6 | 5 |
| Net profit | 6 | 3 | 4 | 6 | 8 | 3 | 5 |
| EPS (₹) | 0.56 | 0.30 | 0.35 | 0.51 | 0.63 | 0.29 | 0.49 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 35,510 | 26.9 | 5.47 | 16.3 | 19.7 | 21.1 | 15.1 | 19.6 |
| TATA TECHNOLOGIES LIMITED | 31,087 | 55.8 | 7.92 | 33.8 | 13.9 | 14.3 | — | 18.3 |
| INVENTURUS KNOWLEDGE SO L | 29,665 | 38.0 | 10.59 | 27.0 | 25.8 | 27.7 | — | 33.6 |
| NETWEB TECH INDIA LTD | 28,723 | 109.9 | 39.71 | — | 28.5 | 37.5 | — | 15.7 |
| AFFLE 3I LIMITED | 22,105 | 46.2 | 6.05 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Unicommerce announces 15th AGM via video conferencing on Sept 9, 2026 | compliance | minimal | — | — |
| 8 Sept 2026 · 15th AGM notice and Annual Report web link for shareholders | compliance | minimal | — | — |
| 8 Sept 2026 · 15th AGM on Sept 30, 2026; CEO pay, ESOP, AI objects, director re-appointment | board shareholder meetings | low | — | — |
| 8 Sept 2026 · NSE seeks clarification on quarterly results compliance | regulatory legal | medium | — | — |
| 6 Sept 2026 · Unicommerce eSolutions fixes Sept 30 for 15th AGM via video conference | compliance | minimal | — | — |
| 5 Sept 2026 · Unicommerce eSolutions: Company Secretary Anil Kumar resigns | compliance | minimal | — | — |
| 5 Sept 2026 · Company Secretary Anil Kumar resigns effective September 5, 2026 | general | low | — | — |
| 2 Sept 2026 · Analyst and Investor Meetings in Chennai on 8 Sept 2026 | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Unicommerce Q1 FY27: revenue up 14.3%, EBITDA down on investments | investor communications | medium | — | — |
| 20 Aug 2026 · Unicommerce extends Urban Company partnership to UAE and Saudi Arabia | strategic transactions | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 30.4 |
| 12.5 |
| 15.2 |
| 39.3 |
| 25.8 |
| SAGILITY LIMITED | 21,150 | 21.3 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| BLACK BOX LIMITED | 14,299 | 61.3 | 11.11 | 28.4 | 16.9 | 9.5 | 6.2 | 8.4 |
| E2E NETWORKS LIMITED | 12,632 | 287.1 | — | — | — | — | — | 82.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 43.3 | 18.9 | 63 of 78 | 20% |
| P/B | 4.8 | 2.2 | 55 of 70 | 22% |
| ROCE | 13.8 | 9.7 | 30 of 87 | 66% |
| ROE | 10.6 | 9.4 | 33 of 72 | 55% |
| Debt / Equity | 0.0 | 0.0 | 3 of 72 | 72% |
| EBITDA margin | 13.4 | 13.0 | 32 of 69 | 54% |
| Revenue growth | 14.3 | 20.8 | 44 of 67 | 35% |
| Profit growth | 20.2 | 14.6 | 30 of 64 | 54% |
| Market cap | 934 | 309 | 30 of 87 | 66% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
