New Delhi : 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 |
| 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
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.”