Shiprocket reported a consolidated net loss of ₹13.71 crore in Q1FY27, representing a 24% narrowing from the ₹18.03 crore loss in the corresponding quarter last year. Revenue from operations demonstrated strong growth, rising 33.81% year-on-year to ₹592.09 crore, up from ₹442.50 crore in Q1FY26. The company achieved a significant milestone by turning adjusted EBITDA positive at ₹8.9 crore compared to just ₹1 crore in Q1FY26, with the company maintaining adjusted EBITDA positivity throughout the quarter. EBITDA loss narrowed to ₹21 crore from ₹26 crore year-over-year, while the Core Business generated adjusted EBITDA of ₹52.7 crore with a margin of 12.8%.
The company's Core Business revenue grew 22% YoY to ₹411.7 crore, while the Emerging Business revenue jumped 70% to ₹180.4 crore. The Emerging Business, comprising checkout and marketing solutions, cross-border and omnichannel solutions, grew 3.2 times faster than the Core Business and now contributes 30% of total revenue, up from 24% a year ago. Within the Emerging segment, Checkout and Marketing Solutions grew around 193% YoY, with the contribution margin improving sharply to 15.3% from 9.3%, while EBITDA margin improved to -24% from -38%. The contribution margin of the Emerging Business rose 43% YoY to ₹115.1 crore, with the absolute contribution increasing to ₹27.7 crore from ₹9.8 crore. The company's gross merchandise value (GMV) increased by 31% while transactions were up 36% from the same quarter last year.
Shiprocket ended the quarter with 224,314 active merchants, while its trailing 12-month GMV stood at ₹34,661.8 crore and unique transactions reached 216 million. The company continued expanding its technology offerings, launching an upgraded RADAR AI-powered courier intelligence platform that can flag SLA breaches and return-to-origin risks at the pincode level before order dispatch. Additionally, Shiprocket rolled out an AI Ads platform for static, editable, short-form and 360-degree creatives, along with AI Assist and AI Calling for order confirmation. The company also introduced appointment-based cargo deliveries to quick-commerce dark stores with integrations including Blinkit and Zepto.
CEO Saahil Goel emphasized that the Q1 results align with the company's decade-long strategy, stating they are "only a few years into a decade-long build" and continue investing in unlocking India's business potential. He noted that India has roughly 60 million MSMEs that need infrastructure built for their scale, requiring a stack they can grow into. Goel highlighted that India's e-commerce market is expected to more than double to $180–200 billion by 2030, with almost none of the merchants driving that growth building their own logistics, payments and growth stack. The company's IPO proceeds of ₹1,617.5 crore will fund expanding Core and Emerging businesses (₹365.6 crore), debt repayment (₹210 crore), and inorganic growth opportunities.
Shares ended more than 1% lower at ₹134.50 ahead of the results announcement on Monday, trading nearly 3% below its listing price. The stock had made a strong market debut on August 19, listing at ₹131 on NSE (35.05% premium) and ₹129.50 on BSE (33.5% premium) after the ₹1,617.5-crore IPO was subscribed 99.38 times. The company is backed by investors including Bertelsmann (21.32% stake), Tribe Capital (14.14%), Temasek (6.85%), and Eternal (5.49%), with the IPO comprising fresh issue of ₹885.5 crore and offer for sale of ₹731.9 crore. The stock is now up 38.7% from its issue price of ₹97 apiece and is up 2.7% from its listing price.
