Shiprocket Q2 FY27: revenue up 35% YoY to ₹ 6,736 Mn, adjusted EBITDA up ~3.3x, PAT turns positive
Q2 FY27 revenue up 35% YoY to ₹ 6,736 Mn; adjusted EBITDA ~3.3x higher at ₹ 142 Mn and profit before tax turned positive at ₹ 6 Mn.
By ScoutQuest · · 2 min read
- Q2 FY27 revenue from operations
- ₹ 6,736 Mn, up 35% YoY
- Adjusted EBITDA (Q2 FY27)
- ₹ 142 Mn at a 2.1% margin from ₹ 43 Mn (0.9%)
- Profit before tax (Q2 FY27)
- positive at ₹ 6 Mn against a loss of ₹ (203) Mn
- Period
- Quarter and half year ended 30 Sep 2026
- Positioning
- Shiprocket presents itself in two parts, a Core Business and an Emerging Business spanning Martech, Omnichannel and Cross Border, serving 236,116 active merchants and 78 Mn end consumers on a trailing-twelve-month basis.
📉 Q2 FY27 revenue from operations was ₹ 6,736 Mn, up 35% YoY, with contribution margin 108 bps higher at 19.3%. Adjusted EBITDA rose to ₹ 142 Mn at a 2.1% margin from ₹ 43 Mn (0.9%) a year earlier, and profit before tax turned positive at ₹ 6 Mn against a loss of ₹ (203) Mn; the company's own segment table also prints ₹ 199 Mn of other income and an ₹ 87 Mn Ind AS 116 rent reversal for the quarter.
📈 By segment, Core revenue was ₹ 4,615 Mn, up 25% YoY, with adjusted EBITDA of ₹ 591 Mn at a 12.8% margin versus 12.4%. Emerging revenue was ₹ 2,122 Mn, up 61% YoY, but its adjusted EBITDA stayed negative at ₹ (449) Mn, a (21.2%) margin that the company shows improving from (31.5%) a year earlier; Martech grew 102% YoY, Omnichannel 79% and Cross Border 9% within Emerging.
📉 For H1 FY27 the presentation prints revenue from operations of ₹ 12,657 Mn, up 34% YoY, adjusted EBITDA of ₹ 231 Mn at 1.8% (up 4.4x), and a loss before tax of ₹ (131) Mn narrowed from ₹ (383) Mn. Net cash flow from operating activities was ₹ 551 Mn against ₹ 238 Mn in H1 FY26.
💰 The balance sheet summary shows total equity of ₹ 24,100 Mn at 30 Sep 2026 versus ₹ 15,243 Mn at 31 Mar 2026, cash and bank balance of ₹ 4,203 Mn and borrowings reduced to nil from ₹ 2,420 Mn, helped by ₹ 8,463 Mn of proceeds from issue of equity shares. Offsetting that, customer acquisition cost for the Core Business rose to ₹ 3,604 from ₹ 2,350 a year earlier, Power Merchants slipped to 10,150 from 10,333, and the repeat rate of end consumers served eased to 57% from 59% in the prior quarter.
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More numbers
- Revenue from operations, Q2 FY27₹ 6,736 Mn
- Revenue growth YoY, Q2 FY27+35%
- Adjusted EBITDA, Q2 FY27₹ 142 Mn
- Profit / (Loss) before tax, Q2 FY276 (₹ Mn)
- Contribution margin %, Q2 FY2719.3%
- Core Business revenue from operations, Q2 FY27₹ 4,615 Mn
- Emerging Business revenue from operations, Q2 FY27₹ 2,122 Mn
- Revenue from operations, H1 FY2712,657 (₹ Mn)
- Net cash flow from operating activities, H1 FY27551 (₹ Mn)
- Active Merchants, Q2 FY27 (TTM)236,116
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