Shadowfax Technologies Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹15,975 Cr
- P/E
- 92.76
- ROE
- 10.72%
- PEG
- 2.27
- Price to sales
- 3.47
- Debt to equity
- 0.13
- 52W high / low
- ₹302 / ₹98.6
- Sales growth (5Y)
- 54.48%
- EBITDA margin
- 5.84%
- Net profit margin
- 2.82%
- Promoter holding
- 16.46%
- Sales (last year)
- ₹4,608 Cr
Incorporated in June 2016, Shadowfax Technologies Ltd is a logistics solution provider company in India.[1]
Guidance scorecard · Q2 FY27 call
What Shadowfax Technologies Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
40%+- FY27 revenue growth guidance has been revised upward from 27-30% to 38-40%, reflecting strong confidence in future growth.
- Growth driven by both Express and hyper-local businesses, with significant upside from new customers such as Amazon Now.
- D2C vertical is growing rapidly, now 2.7 times larger than four quarters ago, driving incremental revenue.
- Addition of new pin codes and expansion into rural areas will increase volume and sales reach.
- Continued investments in network, automation, and infrastructure expected to support capacity for growth.
2 more points from Shadowfax Technologies Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY27 call
FlatSee what Shadowfax Technologies Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Shadowfax is making significant upfront capex investments, with INR 60 crores spent in Q1 FY27, focused mainly on network and automation (77% of capex).
- Investments include sorting machines, infrastructure, IT, electrical expenses, and middle-mile capacity enhancements.
- These facilities have a long-term life, typically lasting over 5 years.
- Continuous expansion of pin codes and deeper rural coverage is ongoing, contributing to higher opex related to people, trucks, and rentals.
- The company is investing in dark stores and quick commerce verticals as strategic experiments with potential long-term growth.
2 more points from Shadowfax Technologies Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ1 FY27 call
Ask what Shadowfax Technologies Ltd said on fundraising →
Full Q1 FY27 analysisOrder bookQ1 FY27 call
Rising- Shadowfax reported nearly 25 crore order volumes in Q1, growing 83% year-on-year.
- The annualized order volume is approximately 100 crore shipments.
- Order volumes in Q1 alone matched the total shipments delivered in the entire FY23.
- The company achieved 10% sequential revenue growth from Q4 to Q1 despite a seasonally softer quarter.
- Shadowfax has high visibility and confidence in forward projections from enterprise customers for future volumes, especially through the sales season.
2 more points from Shadowfax Technologies Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- 2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | Shadowfax Technologies LtdThis stock | 40%+ | Flat | ₹16,984 Cr | 98.6 |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
Sign up free to see every company in the sector ranking and track Shadowfax Technologies Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of Shadowfax Technologies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Shadowfax Technologies Ltd
Shareholding breakup across reporting periods.
| Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|
| Promoters + | 16.59% | 16.51% | 16.46% |
| FIIs + | 7.65% | 8.78% | 16.34% |
| DIIs + | 20.64% | 19.10% | 28.78% |
| Public + | 55.12% | 55.62% | 38.42% |
| No. of Shareholders | 78,607 | 67,373 | 98,527 |
Financials of Shadowfax Technologies Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 701 | 694 | 796 | 950 | 1,128 | 1,206 | 1,324 | 1,501 |
| Expenses + | 680 | 683 | 770 | 915 | 1,063 | 1,127 | 1,234 | 1,399 |
| Operating Profit | 21 | 11 | 26 | 35 | 65 | 79 | 90 | 102 |
| OPM % | 3.0% | 1.6% | 3.3% | 3.7% | 6% | 7% | 7% | 7% |
| Other Income + | 6 | 7 | 8 | 6 | 6 | 16 | 21 | 19 |
| Interest | 3 | 5 | 3 | 3 | 5 | 6 | 7 | 10 |
| Depreciation | 17 | 23 | 22 | 24 | 30 | 33 | 37 | 44 |
| Profit before tax | 6 | -10 | 9 | 14 | 37 | 55 | 66 | 67 |
| Tax % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Net Profit + | 6 | -10 | 9 | 14 | 37 | 55 | 66 | 67 |
| EPS in Rs | 0.54 | -0.66 | 0.60 | 0.94 | 0.73 | 0.95 | 1.13 | 1.15 |
Financials of Shadowfax Technologies Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 323 | 464 | 991 | 1,415 | 1,885 | 2,467 | 4,080 | 5,158 |
| Expenses + | 413 | 609 | 1,143 | 1,523 | 1,866 | 2,405 | 3,866 | 4,823 |
| Operating Profit | -90 | -145 | -152 | -107 | 19 | 62 | 214 | 336 |
| OPM % | -28% | -31% | -15% | -8% | 1.0% | 2.5% | 5% | 6% |
| Other Income + | 10 | 24 | 7 | 8 | 12 | 30 | 37 | 62 |
| Interest | 2 | 2 | 9 | 19 | 14 | 21 | 27 | 28 |
| Depreciation | 5 | 10 | 21 | 24 | 28 | 64 | 108 | 144 |
| Profit before tax | -87 | -133 | -176 | -143 | -12 | 6 | 115 | 225 |
| Tax % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | |
| Net Profit + | -87 | -133 | -176 | -143 | -12 | 6 | 115 | 225 |
| EPS in Rs | -7.53 | -11.55 | -15.25 | -12.35 | -0.99 | 0.41 | 1.98 | 3.96 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
Financials of Shadowfax Technologies Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 152 | 582 | 587 |
| Reserves | 405 | 296 | 152 | 171 | 172 | 248 | 1,166 | 1,304 |
| Borrowings + | 6 | 10 | 98 | 66 | 289 | 383 | 234 | 354 |
| Other Liabilities + | 58 | 132 | 201 | 206 | 324 | 426 | 806 | 859 |
| Total Liabilities | 468 | 439 | 452 | 443 | 786 | 1,209 | 2,788 | 3,104 |
| Fixed Assets + | 20 | 50 | 60 | 83 | 118 | 262 | 520 | 712 |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 290 | 169 | 58 | 60 | 312 | 374 | 405 | 590 |
| Other Assets + | 158 | 219 | 334 | 300 | 356 | 573 | 1,863 | 1,802 |
| Total Assets | 468 | 439 | 452 | 443 | 786 | 1,209 | 2,788 | 3,104 |
Financials of Shadowfax Technologies Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -106 | -113 | -132 | -73 | 132 | 50 | 342 |
| Cash from Investing Activity + | -244 | 122 | 130 | -40 | -311 | -128 | -1,087 |
| Cash from Financing Activity + | 367 | -0 | 72 | 90 | 200 | 132 | 870 |
| Net Cash Flow | 17 | 9 | 69 | -23 | 20 | 53 | 126 |
| Free Cash Flow | -115 | -133 | -163 | -120 | 78 | -34 | 158 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 112% | 77% | 76% | 65% | 660% | 58% | 172% |
Financials of Shadowfax Technologies Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 49 | 41 | 26 | 40 | 36 | 46 | 45 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 49 | 41 | 26 | 40 | 36 | 46 | 45 |
| Working Capital Days | 17 | -4 | -23 | -15 | -27 | -15 | -24 |
| ROCE % | -43% | -61% | -53% | 1% | 4% | 10% |
Guidance history
How Shadowfax Technologies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Flat | Planned | — | Rising |
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | — | — |
| Q3 FY26 call → | 20–40% | Up 0–2% | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Shadowfax Technologies Ltd's management said in earlier quarters
Others in Transport Services this season
- Delhivery Ltd (Q2 FY27)
Q2FY27 Revenue from services: ₹3,066 Cr, up 19.8% YoY (Page 4, 11) . Key investor presentation takeaways from Delhivery Ltd's Q2 FY27 investor presentation — an
- Globe International Carriers Ltd (Q2 FY27)
Consolidated revenue from operations for Q1 FY27: ₹37.18 Cr, a 5.0% year-on-year (YoY) increase from ₹35.40 Cr in Q1 FY26. Key investor presentation takeaways f
- Interglobe Aviation Ltd (Q2 FY27)
Total revenue for Q2 FY27 was INR 243,119 million, up 24.0% YoY from INR 195,995 million in Q2 FY26. Key investor presentation takeaways from Interglobe Aviatio
- Blackbuck Ltd (Q2 FY27)
Revenue from operations for Q2’FY27: ₹235.33 Cr, up 56% YoY (Page 6, 7) . Key investor presentation takeaways from Blackbuck Ltd's Q2 FY27 investor presentation