Logistics company Shadowfax Technologies has delivered a landmark year, reporting record revenue and profit in FY26 while continuing to expand its presence across India’s fast-growing delivery and supply chain market. The company’s strong performance has also helped boost investor confidence, with Mirae Asset Late Stage Opportunities Fund recently selling a 0.97% stake through a bulk deal worth nearly ₹120 crore.
The stake sale comes after Shadowfax’s share price surged following its successful stock market debut earlier this year. With strong financial growth, new business launches, and major investments in technology and infrastructure, the company is positioning itself for its next phase of expansion.
Record Revenue and Profit Drive Investor Confidence
FY26 was the strongest year in Shadowfax’s history. The company reported revenue of ₹4,202 crore, a 69% increase compared to the previous financial year. More importantly, Shadowfax crossed the ₹100 crore profit mark, posting a Profit After Tax (PAT) of ₹112 crore, up sharply from ₹6 crore in FY25. Adjusted EBITDA for the year stood at ₹159 crore.
The final quarter of the financial year was especially strong. In Q4 FY26, Shadowfax generated revenue of ₹1,237 crore, reflecting 74% year-on-year growth. Net profit for the quarter reached ₹56 crore, making it the company’s most profitable quarter so far.
During the year, Shadowfax delivered more than 72.6 crore orders across India. Its Express Parcel business remained the biggest contributor, generating ₹3,041 crore in revenue and growing 77% year-on-year. The Hyperlocal delivery segment also recorded growth of more than 50%.
The company entered the stock market in January 2026 through a ₹1,907.27 crore IPO. The issue included a fresh issue of ₹1,000 crore and an Offer For Sale (OFS) worth ₹907.27 crore. The IPO was subscribed 2.86 times and valued the company at around ₹7,170 crore.
Since listing, the stock has performed strongly. On June 24, 2026, Shadowfax shares touched an all-time high of ₹231.95, taking the company’s market value to around ₹13,381 crore. Taking advantage of the rally, Mirae Asset sold 56.5 lakh shares through a bulk deal, reducing its stake and raising nearly ₹120 crore.
Quick Commerce and New Businesses Become Growth Drivers
Shadowfax is now looking beyond traditional parcel delivery and investing heavily in new business opportunities. One of its biggest focus areas is quick commerce.
The company plans to increase its network of dark stores from 15 to 100 by FY27. Instead of competing directly in grocery delivery, Shadowfax is targeting specialised categories such as fashion, beauty products, gourmet food, and spare parts. According to the company, these dark stores can become profitable within three to four months of operations.
To reduce dependence on large e-commerce marketplaces, Shadowfax recently launched Shadowfax 360. The platform is designed for small businesses, direct-to-consumer (D2C) brands, and SMEs. It offers easy shipping services, flat-rate pricing, access to more than 15,000 pin codes, and AI-based tools that help reduce return-related losses.
The company is also preparing to launch Prime Large, a new service focused on delivering large appliances, white goods, and heavy shipments. This segment is expected to offer better margins and strong long-term demand.
In addition, Shadowfax has expanded its partnerships. The company has started operations with Amazon Now for quick commerce deliveries and partnered with IndusInd General Insurance to offer insurance products for delivery partners.
Technology Investments Support Future Growth
Technology remains a major part of Shadowfax’s growth strategy. During FY26, the company opened OneNCR, its largest automated sorting hub. Built with an investment of ₹50 crore, the facility covers 2.1 lakh square feet and can process up to 48,000 shipments every hour.
Shadowfax now serves more than 15,600 pin codes through 4,778 network touchpoints across the country. The company aims to increase its reach to 17,000 pin codes by FY27.
Artificial intelligence is also playing a bigger role in operations. Shadowfax uses SF Maps, an AI-powered mapping tool that improves delivery accuracy. It has also developed SF Shield and SF Eye, AI-based systems that help prevent fraud, improve shipment security, and verify delivery partners.
Another important development during the year was the complete acquisition of CriticaLog India Private Limited, a company that specialises in handling high-value and time-sensitive shipments such as luxury goods and premium products.
While Shadowfax continues to grow rapidly, it also faces challenges. The company has received some labour-related notices and remains dependent on franchise partners for a large part of its delivery network. Competition is also increasing as major e-commerce companies continue to build their own logistics operations.
Even so, strong profitability, expanding infrastructure, growing AI adoption, and new business opportunities have placed Shadowfax in a strong position. As the company moves into FY27, investors will be watching closely to see whether it can maintain its growth momentum and strengthen its position in India’s logistics sector.