PAT at Rs35 Cr (3.0% margin, 441% YoY growth)
FinTech BizNews Service
Mumbai, 12 February 2026: Shadowfax, India’s fastest growing 3PL company of scale, announced its Q3 FY26 performance, its first quarter results as a public listed company.
Founded in 2015, Shadowfax is a new-age, technology-led, third party logistics company, and leverages technology to facilitate digital commerce in India. The company serves a wide category of enterprise clients including horizontals and non-horizontal ecommerce, quick commerce, food marketplace, and on-demand mobility companies, through a range of services that include express forward parcel, reverse pickups and hand-in-hand exchange, quick commerce and on-demand hyperlocal deliveries.
Q3FY26 Highlights | Record revenue growth, accelerated market share gains & strong margin expansion
Achieved highest ever quarterly revenue of Rs1,160 Cr with a growth of 65.5% YoY and 18.1% QoQ; supported by strong volume growth across service lines:
• Delivered 20.6 Cr orders combined in express parcel and hyperlocal with a shipment growth of 61% YoY and 28.7% QoQ, driven by exceptional market share gains
• Express Parcel revenue grew at 72% YoY and Hyperlocal revenue grew at 43%
YoY
• IndAS EBITDA at Rs66 Cr (5.7% margin, 219% YoY growth), 270 bps
improvement YoY, 11 th consecutive quarter of EBITDA profitability
• Adjusted EBITDA at Rs49 Cr (4.3% margin, 175% YoY growth), 170 bps
improvement YoY on account of strong operating leverage and efficiency gains
• PAT at Rs35 Cr (3.0% margin, 441% YoY growth), 210 bps improvement YoY, highest in company history so far
9 Months FY26 Highlights | Inflection year in company’s journey, outpacing the market
• Delivered 50 Cr orders in the 9 months period with a shipment growth of 54.4% YoY
• Revenue for 9 months stands at Rs2,965 Cr, with a record revenue growth of 67.3% YoY
• IndAS EBITDA for 9 months stands at Rs131 Cr | 4.4% margin | 190 BPS improvement YoY
• Adjusted EBITDA at Rs101 Cr | 3.4% margin | 90 BPS improvement YoY
• Net profit for the 9 months at Rs56 Cr, up 243% YoY
• Free Cash Flow (FCF) of Rs61 Cr for the 9 months period even as we deploy highest CAPEX to strengthen the network
• The Company’s 9 months performance demonstrates consistent growth momentum alongside structural margin improvement
Strengthening National Infrastructure
Continued investment in expanding and automating the nationwide network
• Expanded reach to 15,166 pin codes. With facilities now spread across 4,519 touchpoints spanning over 45 lakhs square feet of operating space, connected by 3,000 trucks on a daily basis.
Invested Rs140 Cr during 9M FY26, in expanding its network, automation of sort centres, expanding geographic presence and towards new technology deployment.
• These investments position Shadowfax for next phase of growth and enhanced service reliability across its nationwide footprint.
