Shadowfax Technologies Q2 FY27 results: net profit ₹67.95 crore

How did Shadowfax Technologies perform in Q2 FY27?

Shadowfax Technologies reported consolidated revenue of ₹1,538 crore in Q2 FY27, against ₹1,358 crore in Q1 FY27, a rise of 13.2%. EBITDA increased 13.1% to ₹103.79 crore from ₹91.77 crore, while the margin was 6.7% compared with 6.8%. Profit before tax and net profit were each ₹67.95 crore, up 3.9% from ₹65.40 crore, and basic EPS was ₹1.16 compared with ₹1.11.

The standalone result showed revenue of ₹1,500.51 crore and profit after tax of ₹67.3 crore. For the first half of FY27, consolidated revenue was ₹2,895.82 crore, total income was ₹2,937.32 crore, profit before tax and profit after tax were ₹133.35 crore, and EPS was ₹2.27. The filing reported no exceptional item for the quarter.

What do the balance sheet and cash flow show?

Total assets increased to ₹3,141.74 crore on 30 September 2026 from ₹2,833.90 crore on 31 March 2026. Total equity rose to ₹1,887.20 crore from ₹1,744.84 crore, while cash fell to ₹255.92 crore from ₹284.22 crore and borrowings declined to ₹0.16 crore from ₹0.28 crore. Trade receivables were ₹593.81 crore, compared with ₹513.95 crore, and trade payables were ₹409.23 crore against ₹379.58 crore.

Cash flow for H1 FY27 included operating cash flow of ₹163.05 crore, investing cash flow of -₹130.59 crore and financing cash flow of -₹60.76 crore. Capital expenditure was ₹146.22 crore. A year-earlier cash-flow comparison was not provided in the available filing excerpts.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the statutory auditors’ reports, on 29 October 2026. The company also filed an earnings presentation for the same results. The available same-day filings did not announce a dividend, fund raise or board appointment.

What did Shadowfax Technologies' management say?

Management maintained FY27 revenue growth guidance of 27% to 30% and capex guidance of 3.8% to 4% of revenue. It also expects Express Parcel revenue to grow at a 27% to 28% CAGR, while quick commerce is modelled on industry growth of 30%+ with Shadowfax maintaining market share. Management said it deferred a guidance revision until Q3 because festive-season visibility was limited, and said the lost-shipment rate was targeted at 4% in a few quarters.

Management said capacity had increased to 69 lakh sq ft and the delivery network had expanded to 3.8 lakh partners. It also said Amazon had become a top-five customer within a year, while micro-fulfilment centres were targeted across 50 cities over 6–12 months. Management identified rental cost rising from 3.2% to 3.5% of revenue, broadly flat sequential Express realisation per order, an incomplete Amazon Express ramp and early-stage micro-fulfilment execution as risks. Abhishek Bansal said: “Price can be matched within a quarter. Reach can be bought, but speed has to be built, and it has to be built before the volume arrives.”

How did Shadowfax Technologies shares react?

Earlier reaction-day moves were positive: the stock rose 10.2% on 31 July 2026, 14.5% on 14 May 2026 and 5.8% on 12 February 2026. The available data did not provide a five-day move following the Q2 FY27 filing.

How did other Logistics Solution Provider companies do?

Sixteen other Logistics Solution Provider companies had filed for the quarter by 4 November 2026. Their median revenue growth was 12.2%. Eleven of the 14 peers for which profit was compared reported higher profit, while the provided peer data did not specify counts for revenue growth slower or faster than Shadowfax Technologies.