IPO-bound Shadowfax posts 114% net profit surge in H1FY26
Logistics platform Shadowfax’s net profit surged 114% to Rs 21 crore in the first half of FY26 from Rs 9.8 crore reported a year before for the same period, according to the company’s updated draft red herring prospectus (DRHP) document.
The company posted operational revenue of Rs 1,805 crore between April-June of this fiscal year, a 68% surge from Rs 1,072 crore for the same period last year.
The IPO-bound company’s net profit surge comes on the back of strong revenue growth, even as the expenses for the period grew.
Shadowfax filed an updated DRHP on Saturday with the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), aiming to raise approximately Rs 2,000 crore via the offering, which includes a primary and secondary issue of Rs 1,000 crore each. Sebi had approved its IPO on October 20.
The Flipkart-backed company provides last-mile delivery services to ecommerce and quick commerce platforms as well as direct-to-consumer (D2C) brands.
E-commerce constitutes about 70% of its business, which has grown about 55% year-on-year (YoY). The rest is quick commerce, which is growing at 90% YoY in FY25.
Meanwhile, in FY25, its revenue from operations rose to Rs 2,485 crore from Rs 1,884.8 crore reported in FY24. The company also swung to a net profit of Rs 6 crore from a net loss of Rs 11.8 crore in FY24.
Shadowfax had filed the DRHP confidentially to gauge investor interest and fine-tune its IPO plans without immediately disclosing financials and other sensitive information.
Of the net proceeds from the IPO, more than Rs 423 crore will be invested in bulking up the firm's network infrastructure. “The company has been seeing massive traction from quick commerce deliveries… and its economics have also been improving,” a person in the know had told ET earlier.
Shadowfax is one among several new-age companies looking to go public, along with PhysicsWallah, Boat, Shiprocket, Groww, Pine Labs, Wakefit, Curefoods, and Meesho. Urban Company has recently listed on the Indian exchanges, and Lenskart is expected to list on November 10.
The company posted operational revenue of Rs 1,805 crore between April-June of this fiscal year, a 68% surge from Rs 1,072 crore for the same period last year.
The IPO-bound company’s net profit surge comes on the back of strong revenue growth, even as the expenses for the period grew.
Shadowfax filed an updated DRHP on Saturday with the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), aiming to raise approximately Rs 2,000 crore via the offering, which includes a primary and secondary issue of Rs 1,000 crore each. Sebi had approved its IPO on October 20.
The Flipkart-backed company provides last-mile delivery services to ecommerce and quick commerce platforms as well as direct-to-consumer (D2C) brands.
E-commerce constitutes about 70% of its business, which has grown about 55% year-on-year (YoY). The rest is quick commerce, which is growing at 90% YoY in FY25.
Meanwhile, in FY25, its revenue from operations rose to Rs 2,485 crore from Rs 1,884.8 crore reported in FY24. The company also swung to a net profit of Rs 6 crore from a net loss of Rs 11.8 crore in FY24.
Shadowfax had filed the DRHP confidentially to gauge investor interest and fine-tune its IPO plans without immediately disclosing financials and other sensitive information.
Of the net proceeds from the IPO, more than Rs 423 crore will be invested in bulking up the firm's network infrastructure. “The company has been seeing massive traction from quick commerce deliveries… and its economics have also been improving,” a person in the know had told ET earlier.
Shadowfax is one among several new-age companies looking to go public, along with PhysicsWallah, Boat, Shiprocket, Groww, Pine Labs, Wakefit, Curefoods, and Meesho. Urban Company has recently listed on the Indian exchanges, and Lenskart is expected to list on November 10.
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