Shares of Shadowfax Technologies surged over 17% to hit an intraday high of ₹192.35 on the National Stock Exchange (NSE) following the company's better-than-expected March 2026 quarter results. According to latest reports, the stock was trading at ₹164.10, up 17.2% from its previous session's close, significantly outperforming the benchmark NSE Nifty50 which was trading at 23,773.60 levels, up by 84 points or 0.35%. The company now commands a market capitalization of ₹10,420.57 crores in the day's trade, demonstrating strong investor confidence in its growth trajectory.
Shadowfax Technologies delivered exceptional financial results for Q4FY26, with revenue reaching ₹1,237.09 crore, representing a 73.6% increase from ₹712.43 crore in the year-ago period and 6.67% quarter-on-quarter growth from ₹1,159.7 crore in Q3FY26. As reported by latest market data, the company achieved a remarkable earnings turnaround with adjusted EBITDA surging 1,051% to ₹580 million compared to ₹50 million in Q4FY25. The company posted a net profit of ₹560 million during the quarter, against a net loss of ₹100 million in the year-ago period. The company's earnings per share (EPS) for the quarterly period stood at ₹0.95, compared to ₹0.20 in the previous year's quarter. For the full financial year FY26, revenue jumped 66.4% year-on-year to ₹4,202 crore from ₹2,485 crore in FY25, with net profit standing at ₹1,120 crore, up ₹1,639 crore. The company also reported net cash generated from operating activities of ₹3,500 million for FY26.
The company demonstrated strong operational metrics with 226 million orders delivered in express parcel and hyperlocal segments, achieving a shipment growth of 100.8% year-on-year and 10% quarter-on-quarter growth. According to latest market data, the express segment delivered a sharp 121% YoY growth, highlighting the company's strong execution capabilities. CEO Abhishek Bansal highlighted that FY26 was a defining year for the company as it strengthened business across scale, profitability, and infrastructure. The company invested ₹185 crore in capital expenditure during the year, primarily in sort centres, automation and last-mile infrastructure, with Q4 being the strongest quarter in company history across revenue, Ebitda, and profit after tax.
Shadowfax Technologies has guided for a moderate but steady growth outlook, expecting 27-30% revenue CAGR over the next two years. As reported by Trade Brains, the company expects annual margin expansion of 100-120 basis points over the next two years, driven by operating leverage, better utilisation, and efficiency improvements in last-mile delivery. Management indicated that the business still has meaningful room to scale without proportional cost increases, with margins expected to stabilise in the 10-12% range over the medium term. Morgan Stanley maintains an Overweight rating on Shadowfax Technologies with a target price of ₹225, citing a strong Q4FY26 performance and expecting ~40% express parcel revenue growth in FY27. The brokerage projects a 27.6% revenue CAGR for FY26-FY28, with adjusted EBITDA margins expanding to ~6% by FY28 from 3.8% in FY26.
