Shiprocket, India's largest ecommerce enablement platform for MSMEs, reported robust consolidated results for Q1 FY27, its first quarter as a listed company. Revenue from operations grew 34% year-on-year to ₹5,921 million, while contribution margin expanded 124 basis points to 19.4%. The company achieved Adjusted EBITDA of ₹89 million, up from ₹10 million a year earlier, demonstrating significant improvement in profitability. Net loss narrowed by 24% YoY to ₹137 million, indicating the platform's progress toward profitability.
The Core Business segment continued its strong performance with revenue growing 22% YoY to ₹4,117 million and maintaining its position as the platform's primary cash engine. Core Business generated ₹527 million of Adjusted EBITDA at a 12.8% margin, up from 12.3% a year ago, while contribution margin reached 21.2%. As per Shiprocket, this segment remains the platform's steady contributor while funding investments in emerging businesses.
The Emerging Business segment demonstrated exceptional growth with revenue increasing 70% YoY to ₹1,804 million, now contributing 30% of total revenue compared to 24% a year ago. Emerging Business contribution margin improved significantly from 9.3% to 15.3%, with absolute contribution margin growing from ₹98 million to ₹277 million. Emerging Business EBITDA margin improved from negative 38% to negative 24%, indicating the segment's path toward profitability. Key growth drivers included Checkout and marketing solutions growing around 193%, cross-border solutions, and omnichannel solutions.
Shiprocket's platform scale continues to expand significantly with trailing twelve-month GMV of ₹346,618 million and delivering 216 million unique transactions. The platform serves 224,314 active merchants and maintains its position as the operating system for Indian MSMEs. According to Shiprocket, the company is building infrastructure for the long tail of commerce that has never had infrastructure built for their scale, positioning itself to serve India's expected e-commerce market growth to $180-200 billion by 2030.
