Shiprocket has announced its financial results for the quarter ended September 30, 2026 (Q2 FY27), reporting a positive Profit After Tax (PAT) of ₹6 crore, a significant turnaround from a loss of ₹203 crore in the previous year. Revenue from operations grew by 35% year-on-year to ₹6,736 crore. The company also repaid all borrowings, achieving a debt-free status, with net cash from operating activities at ₹551 crore in H1 FY27.
Shiprocket Reports Strong Q2 FY27 Performance
Shiprocket, India’s largest ecommerce enablement platform for MSMEs, has reported its consolidated financial results for the quarter ended September 30, 2026 (Q2 FY27). The company has achieved a significant milestone by turning PAT positive, reporting ₹6 crore for the quarter, a substantial improvement from a loss of ₹203 crore in the corresponding quarter last year and ₹137 crore in Q1 FY27.
Revenue and EBITDA Growth
Revenue from operations saw a robust 35% year-on-year increase, reaching ₹6,736 crore. The company’s Adjusted EBITDA also climbed to ₹142 crore. Both the Core and Emerging business segments contributed to this growth. The Core Business generated ₹591 crore of Adjusted EBITDA, marking a 29% increase on 25% revenue growth. The Emerging Business revenue grew by 61%.
Debt Repayment and Financial Strength
A major highlight of the quarter was the repayment of all outstanding borrowings using IPO proceeds, resulting in the company becoming debt-free. Net cash from operating activities stood at ₹551 crore in H1 FY27, a significant jump from ₹238 crore in H1 FY26. This strengthened balance sheet is expected to reduce finance costs.
Q2 FY27 Performance Highlights
- Platform Scale: Trailing twelve month (TTM) GMV reached ₹373,987 crore across 233 million unique transactions, serving over 236,100 active merchants. Core Business transactions grew 31% YoY.
- Segment Performance: Core Business revenue grew 25% YoY to ₹4,615 crore. Emerging Business revenue grew 61% YoY to ₹2,122 crore, now contributing 31% of total revenue.
- Profitability: Contribution margin increased 43% YoY to ₹1,300 crore (19.3% of revenue). Adjusted EBITDA stood at ₹142 crore, with PAT of ₹6 crore.
- Cross-sell: Merchants served via Emerging Business grew 75% to 62,025 (TTM).
- Balance Sheet: Net cash from operating activities was ₹551 crore in H1 FY27. Borrowings of ₹2,420 crore at March 31, 2026, have been fully repaid.
Growth Drivers
The company highlighted that Omnichannel grew by 79% as brands utilized Shiprocket for replenishing quick commerce dark stores. Martech, now Fastrr, grew by 102%, powering TTM GMV of ₹91,400 crore. Shiprocket also introduced AI-native products and features, including Aitlas for AI search visibility and hyper-personalized journeys.
Management Commentary
Saahil Goel, Managing Director and CEO of Shiprocket, stated, “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 crore from operations in the first half, more than twice last year, and we are debt-free.”
Source: BSE
