Shadowfax Technologies Ltd
Incorporated in June 2016, Shadowfax Technologies Ltd is a logistics solution provider company in India.[1]
- Market Cap ₹ 17,200 Cr.
- Current Price ₹ 292
- High / Low ₹ 302 / 98.6
- Stock P/E 76.8
- Book Value ₹ 32.2
- Dividend Yield 0.00 %
- ROCE 10.0 %
- ROE 10.4 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 9.09 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 16.5%
- Tax rate seems low
- Company has a low return on equity of 6.94% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 1,415 | 1,885 | 2,485 | 4,202 | 5,293 | |
| Sales growth | +33% | +32% | +69% | +64% | |
| 1,523 | 1,866 | 2,422 | 3,982 | 4,950 | |
| Operating Profit | -107 | 19 | 63 | 221 | 343 |
| OPM % | -8% | 1.0% | 2.5% | 5% | 6% |
| 8 | 12 | 30 | 36 | 63 | |
| Interest | 19 | 14 | 21 | 29 | 30 |
| Depreciation | 24 | 28 | 65 | 117 | 154 |
| Profit before tax | -143 | -12 | 6 | 111 | 223 |
| Tax % | 0% | 0% | -6% | -1% | |
| -143 | -12 | 6 | 112 | 224 | |
| EPS in Rs | -12.35 | -0.99 | 0.42 | 1.92 | 3.94 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 44% |
| TTM: | 64% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 41% |
| TTM: | 1171% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| Last Year: | 10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.23 | 0.24 | 152 | 582 | 587 |
| Reserves | 171 | 172 | 248 | 1,163 | 1,300 |
| 72 | 289 | 393 | 247 | 364 | |
| 200 | 324 | 467 | 842 | 890 | |
| Total Liabilities | 443 | 786 | 1,259 | 2,834 | 3,142 |
| 83 | 118 | 329 | 588 | 775 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 60 | 312 | 329 | 354 | 533 |
| 300 | 356 | 601 | 1,892 | 1,833 | |
| Total Assets | 443 | 786 | 1,259 | 2,834 | 3,142 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -73 | 132 | 50 | 350 | |
| -40 | -311 | -119 | -1,091 | |
| 90 | 200 | 130 | 863 | |
| Net Cash Flow | -23 | 20 | 61 | 122 |
| Free Cash Flow | -120 | 78 | -36 | 165 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 65% | 660% | 57% | 170% |
Ratios
Consolidated / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 40 | 36 | 48 | 45 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 40 | 36 | 48 | 45 |
| Working Capital Days | -15 | -27 | -18 | -25 |
| ROCE % | 1% | 4% | 10% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | Sep 2026 | |
|---|---|---|---|---|---|
| Express Orders Cr |
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| Hyperlocal Orders Cr |
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| Number of Touchpoints # |
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| Pin Code Reach # |
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| Quarterly Delivery Partners # |
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| Total Orders Cr |
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| 3PL Express E-commerce Shipment Market Share % |
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| Operations Space SFT |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Shadowfax Technologies Limited has informed about Schedule of Investors Conference/Analyst Meet
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Allotment of 17,61,552 Equity Shares of Rs. 10/- each to the eligible employees/ESOP holders
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Shadowfax Technologies Limited has informed about Transcript of Earnings Conference Call for Q2 FY 27 held on October 29, 2026
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Publication regarding unaudited financial results for the quarter and half year ended September 30, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 FY27 earnings call held on October 29, 2026, posted on website.
Concalls
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Nov 2026Transcript PPT REC
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Aug 2026Transcript PPT REC
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
Business Overview:[1][2][3]
Shadowfax Technologies is a technology-
led third-party logistics (3PL) company.
It serves e-commerce marketplaces, quick-commerce platforms, food and on-demand platforms, mobility platforms, online retailers, D2C brands, and SMEs.
Its share of the express 3PL market
was estimated at ~27-29% in Q4FY26,
vs. 8% in FY22. Shadowfax is also the
largest 3PL provider by volumes in the
quick commerce, reverse pickup, and
same-day delivery.