Shadowfax Technologies Limited · NSE:SHADOWFAX
Shadowfax Technologies — Q1 FY27 Earnings Presentation
27 slides from Shadowfax Technologies's earnings presentation, Jul 31, 2026
Slide 1: Q1 FY27 Shadowfax Technologies
Q1 FY27 SHADOWFAX TECHNOLOGIES Fast. Flexible. Future-Ready. 31st July 2026
Slide 2: Safe Harbour Statement
Safe Harbour Statement This presentation contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. These statements are based on current expectations, assumptions, estimates, and projections
Slide 3: New Age, Technology-led Third-Party Logistics Company
“We are a New Age, Technology-led Third-Party Logistics Company, Enabling Digital Commerce Penetration in India” Fast. Flexible. Future-Ready. 3 3
Slide 4: Our Operating Network | Expansive Footprint with Asset-Right Strategy
Our Operating Network | Expansive Footprint with Asset-Right Strategy Horizontal E-Commerce Extensive Mesh 5,095 16,372 53L+ SFT 3,500+ Network Touch Pin Code Operations Trucks on Non-Horizontal Points Reach Space Daily Basis E-Commerce Quick Commerce Food Marketplace On Demand Mobility Mid Mile Las
Slide 5: Market Share Expansion | India's Fastest Growing Third-Party Logistics Company
Market Share Expansion | India’s Fastest Growing Third-Party Logistics Company Continued Market Share Gains for Last 4 Years Market Leadership across… # Express orders per day re-based to 100 as of FY22(1,2) ~ 8% Consistently Gained Market Share 28%-30% 3PL Quick Commerce Solutions 835 615 359 319 R
Slide 6: Service Portfolio | Market Leadership in Value Added Services
Service Portfolio | Market Leadership in Value Added Services Express Forward Reverse Pickup and Prime Others Hyperlocal Express Parcel Hand in Hand Exchange Delivery Logistics Services Forward express parcel Seamless and efficient Quick commerce, food Same day intracity delivery to suit the product
Slide 7: Quarterly Highlights
Executive Summary Quarterly Repeating FY26 High Growth Pace With Improving Margins Highlights Broad-Based Volume Growth Across Services • Delivered 24.7 Cr customer orders across Express & Hyperlocal • 9% sequential order growth over Q4 FY26 • 19.8 Cr Express orders delivered in the quarter with 95%
Slide 8: Q1 Update | Setting Up For Another High-Growth Year
Q1 Update | Setting Up For Another High-Growth Year After a Landmark FY26 Revenue Scale Express Hyperlocal 1,358 INR Cr 24.7 Cr 997 INR Cr 272 INR Cr 64.9% vs Q1 FY26 83.3% vs Q1 FY26 87.3% vs Q1 FY26 53.0% vs Q1 FY26 9.8% vs Q4 FY26 9.2% vs Q4 FY26 7.9% vs Q4 FY26 17.0% vs Q4 FY26 Ind AS EBITDA Adj
Slide 9: Key Performance Indicators
Key Performance Indicators | Gearing Up for a Strong October 2026 Festive Season METRIC UNIT Q1 FY27 Q1FY26 YOY % Q4 FY26 QOQ % Pin code reach 15,656 16,372 14,357 Express Orders Cr 19.8 10.2 94.9% 18.4 7.6% 14% YoY 5% QoQ Q1FY26 Q4FY26 Q1FY27 Hyperlocal Orders Cr 4.9 3.3 47.4% 4.2 16.1% Total Order
Slide 10: Revenue Performance | 65% YoY Revenue Growth
Revenue Performance | 65% YoY Revenue Growth driven by Robust Order Volumes Revenue from Operations Total Orders 1,358 INR Cr 24.7 Cr In Q1 FY27 In Q1 FY27 64.9% YoY 9.8% QoQ 83.3% YoY 9.2% QoQ 1,358 24.7 1,237 22.6 1,160 20.6 982 824 16.0 13.5 Q1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q1FY26 Q2FY26 Q3FY26
Slide 11: Segmental Performance | Sequential Growth Across Every Business Line
Segmental Performance | Sequential Growth Across Every Business Line Express Revenue Express Orders 925 997 INR Cr Cr Volume 18.4 19.8 533 87% YoY 95% YoY 10.2 8% QoQ 8% QoQ Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 272 Hyperlocal Revenue 232 Hyperlocal Orders 4.9 178 4.2 INR Cr Cr Volume 3.3 53% Yo
Slide 12: Profitability | Steady, Sustainable Margin Expansion
Profitability | Steady, Sustainable Margin Expansion Adjusted EBITDA 181% YoY Increase Profit After Tax 716% YoY Increase Strong operating leverage playing out Accelerated bottom-line growth Abs. Value (INR Cr) Margin % Abs. Value (INR Cr) Margin % 4.9% 4.8% 80 4.7% 5.0% 80 4.5% 67 4.5% 70 70 65 58
Slide 13: Balance Sheet & Cash Flow
Balance Sheet & Cash Flow Balance Sheet Summary (INR Cr) Cash Flow Statement Summary (INR Cr) Particulars Jun 30, 2026 Mar 31, 2026 For the quarter For the FY ending Particulars ending Jun 30, 2026 Mar 31, 2026 ASSETS Profit / (Loss) Before Tax 65 111 Property, Plant & Equipment 292 249 Adjustments
Slide 14: Capital Investment Strategy | Investing Ahead of Peak Festive Demand
Capital Investment Strategy | Investing Ahead of Peak Festive Demand FY26 Capex Q1 FY27 Capex Scale-Ready Capacity Dec-25 Mar-26 Jun-26 10% 12% 10% 45L+ 47L+ 53L+ 14% 3% Operations space in SFT Acceleration in line with rising volumes 5% 69% 77% Efficiency at Scale Automation driving sustainable uni
Slide 15: Strategic Outlook: Investing for Tomorrow
Strategic Outlook Investing for Tomorrow. Four growth engines scaling value-added segments of Indian logistics – across speed, value and versatility: Quick Commerce and Dark Stores Network Coverage Prime Prime Large
Slide 16: Four Engines – All Running Ahead of Plan
Growth Strategy Four Engines – All Running Ahead of Plan Building distinct capabilities across the logistics spectrum — delivering high agility, speed, weight, and reach WIDE REACH QUICK-COMM COVERAGE PRIME PRIME LARGE Widening pin-code reach, Intracity Same Day + Comprehensive solution for DARK STO
Slide 17: Quick Commerce & Dark Stores | Powering the Next Wave
Quick Commerce & Dark Stores | Powering the Next Wave of Vertical-Brands Growth Deepening the Quick Commerce moat with dedicated, curated dark stores Quick Commerce Last-mile delivery, market leader scaling the next wave Position Growth Thesis #1 in India 3PL Quick Commerce • Rapid wallet share gain
Slide 18: Network Coverage | New Pin Codes Opened in the Quarter
Network Coverage | 716 New Pin Codes Opened in the Quarter Continuous real-estate and geographic expansion across the network Densifying Coverage, State by State Pincodes served Network touchpoints 16,372 Q1 FY27 5,095 Q1 FY27 716 New Pin codes additions ~200–250 new pincodes added every month Road
Slide 19: Prime and Shadowfax | D2C Revenue Up 2.7x YoY
Prime and Shadowfax 360 | D2C Revenue Up 2.7x YoY on Robust Market-Share Gains High speed intracity same day and intercity next day delivery; SF 360 purpose-built for SMEs Growth Thesis Market Potential 15L+ marketplace sellers (1) Structural D2C Tailwinds Marketplaces today, direct tomorrow; D2C sh
Slide 20: Prime Large | Full-Year Pin Code Target Achieved in Q1
Prime Large | Full-Year Pin Code Target Already Achieved in Q1 Comprehensive solution for heavy & volumetric categories Revenue growth Pincodes served 170%+ vs Q1 FY26 10K Q1 FY27 75 Cr Annualized Run Rate → ▲ +4K vs Q4 FY26 FY27 pin code coverage target achieved in Q1 FY27 6K · Q4 FY26 exit 10K · C
Slide 21: Strategic Outlook: Building AI that delivers
Strategic Outlook Building AI that delivers AI integration across the network – Compounding efficiency, elevating experience and sustaining margins Delivery Partner Buddy AI-driven Quality Control
Slide 22: Delivery Partner Buddy | The AI Copilot for Every Rider
Delivery Partner Buddy | The AI Copilot for Every Rider AI-powered knowledge engine integrated with our core systems, resolving any rider query instantly and in multiple languages Real rider conversations Problems we are solving Queries span the rider’s whole day: live orders, account and profile, p
Slide 23: AI Quality Control at Pickup | Vision AI for Reverse Logistics
AI Quality Control at Pickup | Vision AI for Reverse Logistics Real-time model that verifies every reverse pickup against the catalogue images resolving mismatches at the doorstep, before they become losses The model in action Problems we are solving Catalogue Rider capture Mismatches are hard to ca
Slide 24: Thank You
Thank You Fast. Flexible. Future-Ready
Slide 25: Adjusted EBITDA Bridge | Reconciliation
Adjusted EBITDA Bridge | Reconciliation Particulars (Amounts in INR Cr) Q1 FY27 Q4 FY26 Q1 FY26 FY26 Revenue From Operations 1,358 1,237 824 4,202 (-)Less: Employee Benefit Expenses 123 112 83 393 (-)Less: Other Expenses 1,143 1,044 715 3,598 Ind AS EBITDA as per Financial Statement 92 81 25 212 Ind
Slide 26: Cost Breakdown | Margin Expansion Despite Diesel, Minimum Wages Impact
Cost Breakdown | Margin Expansion Despite Diesel, Minimum Wages Impact % of Revenue from Operations Q1 FY27 Q4 FY26 Q1 FY26 FY26 Revenue from Operations % 100% 100% 100% 100% Employee Benefit Expenses % (1) 8.9% 8.9% 9.3% 8.8% Partner Expenses % 52.4% 52.2% 53.7% 52.6% Transportation charges % 18.8%
Slide 27: KPI Definitions
KPI Definitions METRIC Definition Express Orders Express orders refer to the number of shipments for the express service line. Hyperlocal Orders Hyperlocal Orders refer to the number of shipments for the hyperlocal service line. Total Orders Total Orders refer to the total shipments for express and
Shadowfax Technologies — Q1 FY27 Earnings Presentation on 6ix