Shiprocket Ltd
Shiprocket Ltd is an API-led, merchant-
first e-commerce enablement platform
for Indian MSMEs and large retailers,
spanning domestic/cross-border shipping, fulfilment, checkout, marketing, omnichannel commerce, hyperlocal delivery and finance facilitation.[1]
- Market Cap ₹ 8,695 Cr.
- Current Price ₹ 120
- High / Low ₹ 157 / 117
- Stock P/E
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE -0.28 %
- ROE -2.03 %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -8.46% over last 3 years.
- Earnings include an other income of Rs.52.1 Cr.
* 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.
Peer comparison
Consumer Discretionary Consumer Services Retailing E-Retail/ E-Commerce
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 161 | 358 | 602 | 1,067 | 1,283 | 1,611 | 1,997 | |
| 154 | 348 | 674 | 1,267 | 1,528 | 1,651 | 2,024 | |
| Operating Profit | 7 | 10 | -72 | -200 | -246 | -40 | -27 |
| OPM % | 4.5% | 2.8% | -12% | -19% | -19% | -2.5% | -1.3% |
| 4 | 7 | 25 | -38 | -267 | 44 | 52 | |
| Interest | 1 | 2 | 1 | 9 | 23 | 22 | 26 |
| Depreciation | 0 | 1 | 6 | 39 | 64 | 33 | 34 |
| Profit before tax | 10 | 14 | -55 | -287 | -598 | -50 | -35 |
| Tax % | 0% | 13% | -0% | -0% | 0% | 0% | 0% |
| 10 | 12 | -55 | -287 | -599 | -50 | -35 | |
| EPS in Rs | 0.89 | 1.10 | -4.72 | -20.22 | -38.15 | -2.69 | -0.55 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 23% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 23% |
| TTM: | 37% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -10% |
| 3 Years: | -8% |
| Last Year: | -2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.43 | 0.36 | 0.34 | 0.61 | 0.61 | 0.64 | 636 |
| Reserves | 26 | 91 | 1,340 | 1,682 | 1,253 | 1,481 | 981 |
| 52 | 44 | 77 | 246 | 287 | 391 | 343 | |
| 43 | 103 | 198 | 437 | 525 | 472 | 609 | |
| Total Liabilities | 122 | 238 | 1,616 | 2,365 | 2,065 | 2,344 | 2,568 |
| 1 | 2 | 129 | 1,104 | 965 | 940 | 954 | |
| CWIP | 0 | 0 | 0 | 5 | 0 | 0 | 0 |
| Investments | 0 | 0 | 85 | 265 | 109 | 126 | 112 |
| 121 | 236 | 1,402 | 991 | 991 | 1,278 | 1,502 | |
| Total Assets | 122 | 238 | 1,616 | 2,365 | 2,065 | 2,344 | 2,568 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 11 | 35 | -36 | -76 | -180 | 8 | 49 | |
| -33 | -57 | -1,233 | -302 | 86 | -151 | 58 | |
| 54 | 43 | 1,281 | 411 | 96 | 154 | -44 | |
| Net Cash Flow | 31 | 20 | 11 | 33 | 2 | 11 | 63 |
| Free Cash Flow | 10 | 33 | -48 | -106 | -204 | 2 | 33 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 148% | 373% | 42% | 32% | 71% | 3% | -242% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 14 | 27 | 29 | 33 | 35 | 43 |
| Inventory Days | 0 | 0 | 1 | 1 | 1 | ||
| Days Payable | 66 | 68 | 84 | 74 | |||
| Cash Conversion Cycle | 11 | -52 | -40 | -55 | -40 | 35 | 43 |
| Working Capital Days | -75 | -61 | 111 | 110 | -42 | 8 | 4 |
| ROCE % | 15% | -7% | -12% | -15% | -2% | -0% |
Documents
Announcements
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the Quater ended 30th September 2026
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the Quater ended 30th September 2026
-
Announcement Under Regulation 30 Of The SEBI (LODR) Regulation, 2015
- Shiprocket updates CIN to reflect listed status after 19 August 2026 listing.
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- Shiprocket’s 15th AGM resolutions, including financials, auditor appointments and ESOP amendments, were approved on September 30, 2026.
- Shareholder Meeting / Postal Ballot-Outcome of AGM
Concalls
-
Sep 2026Transcript PPT REC
Listed entity:
Shiprocket Ltd got listed on August 19th 2026 after a ₹97/share IPO. Its 6 direct subsidiaries and one step-down subsidiary include key
cargo /checkout, Omni/fulfilment, ONDC
seller-app and overseas operations.[1][2][3]