Quick Commerce & E-commerce

The platforms and the picks-and-shovels behind them, separated by tier so an operator and a supplier never blur.

Core — the theme IS a principal business todayGrowing — real operations, not yet the main businessAnnounced — committed plans or orders, little revenue yetMention-only — appears only as outlook language
Larsen & ToubroCivil ConstructionGrowing₹5.08 L CrP/E 30.6 vs 14.6ROCE 11.9%

SuFin is an operational B2B digital marketplace platform now being separately incorporated for independent scaling.

“SuFin Limited, a wholly-owned subsidiary of Larsen & Toubro Limited, was incorporated and the business has been transferred from the parent entity on April 1, 2026. This restructuring is intended to sharpen strategic clarity and support the independent scaling of SuFin as a B2B digital marketplace platform.”

Annual Report · p. 30
Hindustan UnileverDiversified FMCGGrowing₹4.39 L CrP/E 29.3 vs 37.5ROCE 21.5%

HUL invests in 'Channels of the Future' (which explicitly include Quick commerce per its strategic priorities) and runs a dedicated quick commerce organisation of 10+ people tracking service-level performance.

“Strong growth in Channels of the Future aided in delivering a mid-single digit UVG for the segment.”

Annual Report · p. 12
+2 more quotes from the report

“Nano DCs support rapid growth across quick commerce, marketplaces and emerging customer segments through consistent availability across platforms.”

Annual Report · p. 22

“The channel doubled its turnover in FY 2025-26 and has emerged as a vital growth engine for the Company.”

Annual Report · p. 36
Nestle IndiaPackaged FoodsGrowing₹2.55 L CrP/E 67.0 vs 30.2ROCE 54.7%

Nestlé India reports scaling quick commerce as part of its omni-channel strategy with strong Quick Commerce performance, including platform-specific pack portfolios and festive participation, indicating material revenue from supplying quick-commerce platforms.

“Your Company continued to execute an omni‑channel strategy aligned to the evolving retail ecosystem, scaling e‑commerce and quick commerce, strengthening modern trade and chain pharmacy, and sustaining growth through general trade across semi‑urban and rural markets.”

Annual Report · p. 35
Grasim IndustriesCement & Cement ProductsGrowing₹1.98 L CrP/E 34.7 vs 30.1ROCE 3.2%

Grasim operates Birla Pivot, a B2B e-commerce procurement platform for construction materials, with revenue approaching ₹8,500 crore and 136% YoY growth.

“Our B2B E-commerce business, Birla Pivot, rapidly evolved from a digital marketplace into a comprehensive procurement ecosystem for businesses across India. In a fragmented B2B procurement landscape, Birla Pivot delivered exceptional scale, with revenue growing 136% YoY and nearing revenue of I 8,500 crore”

Annual Report · p. 33
Colgate PalmolivePersonal CareGrowing₹47,954 CrP/E 35.6 vs 35.6ROCE 107.1%

Colgate sells oral care products through quick-commerce platforms with QCom Net Sales doubling year-over-year and double-digit E-commerce Net Sales growth, indicating material channel revenue though it is not the core business.

“In digital, E-commerce remains our highest growth channel, delivering strong double-digit Net Sales growth in FY26*. We have successfully capitalized on the QCom shift, as the channel Net Sales doubled.”

Annual Report · p. 14
Vishal Mega MartDiversified RetailGrowing₹46,768 CrP/E 52.4 vs 35.0ROCE 12.7%

Vishal Mega Mart operates an omni-channel e-commerce platform with a mobile app and website, offering 2-hour express delivery and hyperlocal delivery from 656 of its 696 stores to ~9 million registered users across 429 cities.

“We offer an omni-channel shopping experience through our website and mobile application.”

Annual Report · p. 35
Piramal PharmaPharmaceuticalsGrowing₹26,992 CrROCE -1.8%

Piramal Consumer Healthcare materially sells OTC/personal care products through quick-commerce and e-commerce platforms (20+ platforms, 27% of PCH revenue from e-commerce, growing 48% YoY), making it a meaningful and growing revenue channel.

“Quick commerce has become a rapidly growing channel now contributing to 50% of the total E-Commerce business.”

Annual Report · p. 36
Metro BrandsFootwearGrowing₹22,486 CrP/E 55.3 vs 48.6ROCE 16.3%

Metro Brands distributes footwear and accessories through quick-commerce platforms Blinkit and Zepto as part of its omnichannel digital commerce strategy.

“Our physical network is supported by brand websites, online marketplaces, omni-channel fulfilment and quick-commerce platforms such as Zepto, Blinkit and others.”

Metro Brands Ltd - 543426 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 12
+2 more quotes from the report

“The Company also launched the dedicated e-commerce platform, metroactiv.com, further strengthening its digital capabilities and expanding customer access across channels.”

Metro Brands Ltd - 543426 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 28

“E-commerce and omni-channel sales increased by 39% during the year to `361 Crore, contributing approximately 12.9% of total sales.”

Metro Brands Ltd - 543426 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 30
Shadowfax TechnologiesLogistics Solution ProviderGrowing₹17,108 CrP/E 106.3 vs 16.0ROCE 5.7%

Shadowfax has material quick-commerce revenue and provides scaled logistics support to the category, while its broader logistics business remains the principal operation.

“Second, our hyperlocal business grew 54.3% year-on-year and our quick commerce revenues grew approximately 80%, because we were the partner that could handle the complexity and scale that this category demands.”

Shadowfax Technologies Ltd - 544685 - Notice Of The 11Th Annual General Meeting ("AGM") And Annual Report Of The Company To Be Held On September 18, 2026 · Aug 2026 · p. 29
Honasa ConsumerPersonal CareGrowing₹15,586 CrP/E 53.7 vs 35.6ROCE 16.9%

Honasa strategically sells its Mamaearth, BBLUNT and other beauty/personal care brands across quick-commerce platforms as a high-velocity growth channel.

“We strategically scaled our presence on quick commerce platforms by leveraging platform-relevant product launches that aligned with evolving consumer needs, while simultaneously aiding in the premiumisation of some categories on these platforms.”

Annual Report · p. 35
LT FoodsOther Agricultural ProductsGrowing₹14,581 CrP/E 22.8 vs 12.6ROCE 16.0%

LT Foods supplies its branded rice and food products through quick-commerce and e-commerce platforms as a meaningful and fast-growing distribution channel, explicitly highlighted as a strategic priority across India.

“Digital channels are reshaping consumption and expanding the category as well, with quick commerce and e-commerce growing by over 45% during the year.”

LT Foods Ltd - 532783 - Notice Of 36Th Annual General Meeting (AGM) And The Integrated Annual Report For The Financial Year 2025-2026 · Sept 2026 · p. 26
+2 more quotes from the report

“Expand distribution across physical retail, e-commerce and quick-commerce channels”

LT Foods Ltd - 532783 - Notice Of 36Th Annual General Meeting (AGM) And The Integrated Annual Report For The Financial Year 2025-2026 · Sept 2026 · p. 30

“Quick Commerce and General Trade expansion”

LT Foods Ltd - 532783 - Notice Of 36Th Annual General Meeting (AGM) And The Integrated Annual Report For The Financial Year 2025-2026 · Sept 2026 · p. 32
Blue Dart ExpressLogistics Solution ProviderGrowing₹10,821 CrP/E 37.7 vs 16.0ROCE 13.4%

Blue Dart's express courier operations handle substantial e-commerce shipment volumes as one of its key volume drivers and identified growth sectors.

“Performance was supported by stable domestic demand, steady e-commerce volumes, strong traction in the B2B ground segment and increasing economic activity across Tier II and Tier III markets.”

Blue Dart Express Ltd - 526612 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 11
P N Gadgil JewellersGems Jewellery And WatchesGrowing₹8,096 CrP/E 18.2 vs 26.4ROCE 26.1%

PNG Jewellers sells its jewellery through quick-commerce platforms (Zepto, Swiggy Instamart, Blinkit) and online marketplaces, with the e-commerce segment growing ~105% YoY, but physical retail stores remain the principal business.

“we expanded our digital footprint across major quick-commerce platforms, including Zepto, Swiggy Instamart, and Blinkit, while strengthening our presence across leading digital marketplaces such as Tata CLiQ, Amazon, AJIO, Flipkart, and Myntra.”

P N Gadgil Jewellers Ltd - 544256 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 17
MRS Bectors Food SPEPackaged FoodsGrowing₹6,471 CrP/E 22.0 vs 30.2ROCE 13.1%

MBFSL actively sells its Cremica and English Oven brands through quick-commerce platforms (e.g., Blinkit) as one of several distribution channels alongside traditional and modern trade.

“Specifically, our collaborations with Blinkit during key seasonal campaigns enhanced our brand visibility and also demonstrated the growing relevance of digital commerce in accelerating consumer engagement.”

Mrs. Bectors Food Specialities Ltd - 543253 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 15
Bajaj Consumer CarePersonal CareGrowing₹6,311 CrP/E 28.9 vs 35.6ROCE 30.0%

Quick commerce is an active, fast-growing sales channel through which the company serves consumers.

“Most striking was the rise of quick commerce, which emerged as one of our fastest-growing channels during the year — a shift that captures how rapidly consumer purchasing behaviour is evolving, and how decisively we are positioning ourselves to serve it.”

Bajaj Consumer Care Ltd - 533229 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 7
+1 more quote from the report

“Quick Commerce emerged as a key growth driver, led by rising demand for convenience and faster product access. Our presence across platforms such as Blinkit, Swiggy Instamart and Zepto helped strengthen consumer access”

Bajaj Consumer Care Ltd - 533229 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 25
Aditya Birla Fashion & RTSpeciality RetailGrowing₹5,430 CrROCE -7.1%

ABFRL operates proprietary e-commerce platforms (brand websites, mobile apps, virtual stores) with e-commerce contributing ~16% of revenue and growing over 20% YoY in FY26.

“E-commerce continued to gain scale as an important growth channel, contributing around 16% of revenue during the year. With e-commerce revenue growing over 20% year-on-year, the channel reflects the increasing strength of our digital ecosystem”

Annual Report · p. 10
+1 more quote from the report

“Core systems such as SAP S/4HANA, Dynamics 365 POS/CRM and a centralised e-commerce stack provide a single view of customers, inventory and performance, while enabling seamless integration across brands.”

Annual Report · p. 34
D. P. AbhushanGems Jewellery And WatchesGrowing₹5,182 CrP/E 175.6 vs 26.4

D.P. Abhushan operates its own e-commerce platform (dpjewellers.com), is finalising a mobile application, and is expanding presence across leading online marketplaces as a real, operational sales channel supplementary to its core jewellery retail business.

“Launched the official e-commerce platform to enhance customer reach, engagement and online-to-offline integration.”

D.P. Abhushan Ltd - 544161 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 3
CMS Info SystemsDiversified Commercial ServicesGrowing₹3,502 CrP/E 12.3 vs 13.9ROCE 15.4%

CMS supplies AI-led surveillance via HAWKAI™ to dark stores and warehouses of a leading quick commerce platform, with quick commerce cited as a key non-BFSI expansion vertical for HAWKAI™.

“Equally important was our win with a leading quick commerce platform, where we are deploying AI-led surveillance across dark stores and warehouses.”

CMS Info Systems Ltd - 543441 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 16
BorosilHousewareGrowing₹3,360 CrP/E 48.0 vs 31.9ROCE 9.9%

Borosil actively sells its consumer products (bottles, lunch boxes, storage) across leading quick-commerce platforms like Blinkit, Zepto and Swiggy Instamart as a strategically important channel, though not the main business.

“The Company continues to strengthen its presence across leading quick commerce platforms such as Blinkit, Zepto, and Swiggy Instamart, enabling consumers to access everyday kitchen and lifestyle products with unprecedented speed and convenience.”

Borosil Ltd - 543212 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 11
BLS E-servicesIT Enabled ServicesGrowing₹1,429 CrP/E 24.7 vs 18.9ROCE 16.2%

BLS enables assisted e-commerce and last-mile digital commerce through 1,55,000+ BLS Touchpoints, with explicit FY26 logistics tie-ups with Delhivery and DTDC.

“Through the BLS Sewa platform, agents offer a wide range of everyday services including bill payments, train bookings, insurance, telemedicine and e-commerce, making digital services genuinely accessible at the community level.”

BLS E-Services Ltd - 544107 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 18
Krystal Integrated SerDiversified Commercial ServicesGrowing₹905 CrP/E 13.9 vs 13.9ROCE 14.5%

Supplies staffing and payroll personnel to logistics and quick-commerce customers as part of its Staffing Solutions vertical, with explicit deepening of presence called out as a 2025-26 development.

“Deepened our presence in the logistics and quick commerce sector, where network expansion creates continuous, high-volume staffing requirements”

Krystal Integrated Services Ltd - 544149 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 14
SreeleathersFootwearGrowing₹665 CrP/E 20.3 vs 48.6ROCE 7.5%

Sreeleathers operates an online sales channel for its footwear and accessories, with a 19% revenue CAGR and 15% volume CAGR over four years, though its core business remains 31 physical retail stores.

“19% / 15% Four-year e-commerce CAGR in revenue and in pairs sold”

Sreeleathers Ltd - 535601 - Regulation 34(1) - Annual Report · Sept 2026 · p. 32
Ganesh Consumer ProductPackaged FoodsGrowing₹636 CrP/E 13.8 vs 30.2ROCE 14.4%

Ganesh Consumer sells its packaged staples (flour, spices, sattu) via e-commerce and quick-commerce platforms as a key distribution channel, with e-commerce/quick-commerce already 14% of B2C revenue and growing 43% YoY.

“the e-commerce channel grew 43% YoY, now contributing 14% of B2C revenue”

Ganesh Consumer Products Ltd - 544528 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 29
VakrangeeIT Enabled ServicesGrowing₹563 CrP/E 57.8 vs 18.9ROCE 6.2%

Vakrangee enables e-commerce via its BharatEasy digital app and 23,087 physical Kendras offering assisted shopping, ordering and fulfilment, though BFSI distribution (49% of revenue) is the primary monetisation anchor.

“E-commerce & Logistics: Including online shopping, online agriculture products, Ticket Booking, Pan Card Services, Online Demat Account Opening Services, Mobile & DTH recharge, and Apparels Products.”

Vakrangee Ltd-$ - 511431 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 18
Thomas ScottGarments & ApparelsGrowing₹409 CrP/E 12.2 vs 18.9ROCE 19.4%

The company operates a dedicated E-commerce segment with its own Managing Director, indicating real current e-commerce operations alongside its core garment manufacturing/trading business.

“for the reappointment of Mr. Vedant Bang (DIN: 09506327), as Managing Director for the E-commerce segment of the Company, for a period of 3 (three) years w.e.f October 01, 2026”

Thomas Scott (India) Ltd - 533941 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 28
Itcons E-SolutionsDiversified Commercial ServicesGrowing₹217 CrP/E 16.9 vs 13.9ROCE 10.2%

ITCONS earns revenue supplying large-scale blue-collar staffing to quick-commerce players (Blinkit, Swiggy, Zypp, Bistro), described as a key focus area though not its largest vertical (government is).

“partnered with leading organizations, including Blinkit, Swiggy, and Zypp, further enhancing its capabilities in large-scale workforce deployment.”

ITCONS E-Solutions Ltd - 543806 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 8
Wardwizard Foods and BeveragesOther Food ProductsGrowing₹193 CrP/E 149.8 vs 25.5ROCE 0.6%

The company sells its food products through e-commerce platforms (Amazon, ethnic grocery platforms in USA/UK/Australia) as a distribution channel, with plans to strengthen this presence, though it is not the main revenue driver (food commodity trading is).

“WFBL is progressively developing its digital and direct-to-consumer channels as part of its broader market access strategy. The roadmap includes strengthening its presence across Amazon and ethnic grocery platforms in the USA, UK and Australia, supported by data-led customer engagement and improved digital shopping experiences.”

Wardwizard Foods and Beverages Ltd - 539132 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 19
Zodiac Clothing Co.Garments & ApparelsGrowing₹187 CrROCE -14.8%

Zodiac operates its own D2C e-commerce platform for its branded clothing business in India, with a whole-time Director for Digital focused on scaling it.

“Expertise in machine learning and technology, currently focused on scaling the Company’s Branded business in India through its own D2C E-Commerce platform and its retail stores.”

Zodiac Clothing Company Ltd - 521163 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 36
Luxury TimeGems, Jewellery And WatchesGrowing₹59 CrP/E 17.5 vs 12.9ROCE 19.1%

Luxury Time has current direct-to-consumer and e-commerce sales operations, but these are one component of its broader watch distribution, retail and service business.

“During the financial year under review, the Company continued to operate in the premium and luxury watch ecosystem with an integrated presence across distribution, retail, direct-to-consumer/e-commerce, after-sales service, brand support and tools/machinery distribution.”

Luxury Time Ltd - 544635 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 31
Pace E-commerce Ventures LimitE-Retail/ E-CommerceGrowing₹34 CrP/E 4.8 vs 13.2ROCE 6.0%

Company operates four owned e-commerce/hyperlocal websites for its consumer (D2C) and B2B brands, alongside marketplace presence, though the e-commerce focus is being complemented by newer hydration and B2B verticals.

“Owned E-commerce and Hyperlocal: 4 owned websites across B2B and B2C”

Pace E-Commerce Ventures Ltd - 543637 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 11
+1 more quote from the report

“The Company is also engaged in the manufacturing and trading of textiles, furniture, garments, home décor items, accessories and other related products, which are sold through the Company's own e-commerce platform as well as through various online and offline channels.”

Pace E-Commerce Ventures Ltd - 543637 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 33
Ahasolar TechnologiesE-Retail/ E-CommerceGrowing₹20 CrROCE 2.1%

Operates a Solar Marketplace as one of its four core business categories, earning on transaction margins for solar product buy/sell.

“Our company works on the transaction margins for the transactions that happen in the marketplace for buying and selling of solar products.”

Ahasolar Technologies Ltd - 543941 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 27

The company develops cold chain storage solutions tailored for quick commerce, supplying/enabling quick-commerce operators as one of several material handling product lines.

“From designing highly customized, high-precision pallets for Automated Storage and Retrieval Systems (ASRS) to developing robust cold chain storage solutions tailored for the high-velocity demands of quick commerce, innovation is at the heart of everything we build.”

Prima Innovation Ltd - 544855 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 5
Rajnandini Fashion India LimitGarments & ApparelsGrowingROCE 43.3%

The company currently sells its women’s apparel through leading e-commerce platforms and its own online channel alongside wholesale distribution.

“Its products are marketed and sold through leading e-commerce platforms, its own online presence and wholesale channels, enabling the Company to cater to customers across different geographical markets.”

Rajnandini Fashion India Ltd - 544771 - Reg. 34 (1) Annual Report. · Sept 2026 · p. 18
How this list is built

Definition used: Operates e-commerce or quick-commerce platforms, or earns materially from supplying/enabling them (dark stores, delivery logistics, e-commerce roll-ups). Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.

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