ScoutQuest23 Oct 2026
Unicommerce Esolutions544227Quarterly results

Unicommerce Q2 FY27 revenue up 15.0% to ₹59.1 Cr; Shipway crosses ₹100 Cr run-rate as investments weigh on EBITDA

Q2 FY27 revenue up 15.0% to ₹59.1 Cr, PAT up 10.6% to ₹6.4 Cr; Adjusted EBITDA down 12.1% to ₹10.0 Cr.

By ScoutQuest · · 1 min read

₹110.4 Cr
Q2 FY27₹59.1 CrH1 FY27₹110.4 Cr
Revenue: ₹59.1 Cr (Q2 FY27) and ₹110.4 Cr (H1 FY27).
Q2 FY27 Revenue
₹59.1 Cr, up 15.0% YoY
Q2 FY27 PAT
₹6.4 Cr, up 10.6%
Q2 FY27 Adjusted EBITDA
₹10.0 Cr, down 12.1% (margin 17.0% vs 22.2%)
Period
Q2 FY27 and H1 FY27
Positioning
An e-commerce enablement SaaS company running the Uniware platform and the Shipway courier aggregation business, with 1,233 enterprise clients and a growing international presence.

📉 Q2 FY27 revenue rose 15.0% YoY to ₹59.1 Cr and PAT 10.6% to ₹6.4 Cr, while Adjusted EBITDA fell 12.1% to ₹10.0 Cr (margin 17.0% vs 22.2%). For H1 FY27, revenue was ₹110.4 Cr (+14.7%), PAT ₹11.1 Cr (+14.4%) and Adjusted EBITDA ₹18.1 Cr (-13.2%). The company attributes PAT growth to tax benefits and lower amortisation.

📉 Uniware grew 14.5% YoY, which the company calls its 5th consecutive quarter of acceleration, and Shipway grew 15.7% and crossed a ₹100 Cr annualised run-rate. Enterprise clients reached 1,233, up 20.5%, and top-10 client share fell to 10.5% from 15.1%.

📉 Management states the YoY EBITDA decline reflects planned H1 FY27 investments, that incremental investment should moderate in H2 FY27, and that it is confident of 15%+ Uniware and 20%+ Shipway revenue growth from Q4 FY27 onwards.

📈 The company says UniReco and UniCapture could exceed 10% of Uniware revenue over 2-3 years from ~2.5% now, and sees cross-sell room as 20-25% of Shipway volumes come from Uniware clients despite ~10% client overlap. It backs its plans with a ₹104.4 Cr cash balance and ₹23.9 Cr H1 operating cash flow.

More numbers
  • Revenue, Q2 FY27₹59.1 Cr
  • Revenue growth YoY, Q2 FY2715.0%
  • Adjusted EBITDA, Q2 FY27₹10.0 Cr
  • PAT, Q2 FY27₹6.4 Cr
  • Revenue, H1 FY27₹110.4 Cr
  • Adjusted EBITDA, H1 FY27₹18.1 Cr
  • PAT, H1 FY27₹11.1 Cr
  • Cash balance, H1 FY27₹104.4 Cr
  • H1 operating cash flow, FY27₹23.9 Cr
  • Shipway annualised revenue run rate, Q2 FY27100.6 (₹ Cr)
  • Adj EBITDA margin, Q2 FY2717.0%
  • Annual Recurring Revenue, Q2 FY27236.3 (₹ Cr)
  • Total enterprise clients, Q2 FY271,233
Source: BSE · 23 Oct 2026

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