Shiprocket has announced its financial results for the quarter ended September 30, 2026 (Q2 FY27), reporting a profit after tax (PAT) of ₹6 crore, a significant turnaround from a loss of ₹203 crore in the previous year. Revenue from operations grew 35% year-on-year to ₹6,736 crore, while Adjusted EBITDA increased to ₹142 crore. The company also highlighted its debt-free status after repaying all borrowings using IPO proceeds.
Shiprocket Achieves Profitability in Q2 FY27
Shiprocket, India’s leading ecommerce enablement platform for MSMEs, has reported a positive turnaround in its financial performance for the quarter ended September 30, 2026 (Q2 FY27). The company announced a profit after tax (PAT) of ₹6 crore, marking a substantial improvement from a loss of ₹203 crore in the same period last year and ₹137 crore in Q1 FY27. Revenue from operations saw a robust year-on-year increase of 35%, reaching ₹6,736 crore, with Adjusted EBITDA climbing to ₹142 crore.
Key Financial and Operational Highlights
The positive results were driven by growth across both the Core and Emerging business segments. The Core Business generated an Adjusted EBITDA of ₹591 crore, reflecting a 29% increase on a 25% revenue growth. The Emerging Business experienced a significant revenue surge of 61%, narrowing its Adjusted EBITDA margin from (31.5%) to (21.2%).
A major financial achievement highlighted is the company’s debt-free status. Following the receipt of IPO proceeds, Shiprocket successfully repaid all outstanding borrowings, closing the half-year with zero debt. Net cash from operating activities for the first half of FY27 stood at ₹551 crore.
Q2 FY27 Performance Breakdown
- Platform Scale: Trailing twelve months (TTM) Gross Merchandise Value (GMV) reached ₹373,987 crore across 233 million unique transactions, serving over 236,100 active merchants. Core Business transactions grew 37% YoY.
- Segment Performance: Core Business revenue increased by 25% YoY to ₹4,615 crore. Emerging Business revenue grew 61% YoY to ₹2,122 crore, now contributing 31% of total revenue, up from 26% a year ago.
- Profitability: Contribution margin rose 43% YoY to ₹1,300 crore (19.3% of revenue). Adjusted EBITDA stood at ₹142 crore, and PAT was ₹6 crore, a ₹209 crore swing YoY. Core Business Adjusted EBITDA margin improved to 12.8%, and Emerging Business contribution margin rose to 15.4%.
- Cross-sell: Merchants using Emerging Business products grew 75% to 62,025 (TTM). 9.3% of Core merchants now utilize an Emerging product, an increase of 140 basis points.
- Balance Sheet: Net cash from operating activities was ₹551 crore in H1 FY27, up from ₹238 crore in H1 FY26. Borrowings of ₹2,420 crore at March 31, 2026, have been fully repaid.
Growth Drivers and Platform Innovation
Growth in Q2 FY27 was significantly bolstered by the Omnichannel segment, which grew 79%, and the Martech segment (Fastrr), which grew 102%. The company is also actively innovating its platform with AI-native products, including Aitlas for AI search optimization and hyper-personalized journeys, alongside enhanced features in Fastrr Checkout and revamped shipping analytics.
Management Commentary
Saahil Goel, Managing Director and CEO of Shiprocket, stated, “Growing 35% with positive Adjusted EBITDA and operating cash flow shows we can build it from our own operations. We are in the business of making other people a business, and our ambition is simple: to see the next generation of great Indian brands built on Shiprocket.”
Tanmay Kumar, CFO of Shiprocket, added, “We generated ₹551 Mn from operations in the first half, more than twice last year, and we are debt-free.”
Source: BSE
