Shiprocket (SHIPROCKET) Q1 26/27 earnings summary

Executive summary

• Platform powered over INR 32,000 crore in GMV and 20 crore transactions in FY 2026, serving 50 crore consumers, with a majority of GMV from tier two and three cities.

• Revenue from operations grew 34% YoY to ₹5,921 Mn, with broad-based volume growth and platform scaling driving performance.

• Adjusted EBITDA surged nearly 9x YoY to ₹89 Mn, reflecting improved operating leverage.

• Active merchants increased to 224,314, and transactions processed reached 216 Mn for the quarter.

• Approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, marking the first results post-IPO and listing on NSE and BSE on August 19, 2026.

Financial highlights

• Q1 FY27 consolidated revenue from operations was Rs 5,920.87 million, up 34% YoY; core revenue INR 4,117.37 million (+22% YoY), emerging revenue INR 1,803.50 million (+70% YoY).

• Adjusted EBITDA grew ninefold to INR 8.9 crore (₹89 Mn), margin rose to 1.5% from 0.2% YoY.

• Contribution margin improved 124 bps YoY to 19.4%, up 43% YoY and 10% sequentially.

• Consolidated net loss for Q1 FY27 was Rs 137.14 million, compared to Rs 180.33 million in Q1 FY26.

• Adjusted EBITDA per transaction rose from INR 0.22 to INR 1.5 YoY.

Outlook and guidance

• Core business expected to maintain contribution and EBITDA margins in the 12-13% range, with continued investment in growth.

• Emphasis on cross-selling emerging products, with cross-sell rates up 150 bps YoY.

• The company completed its IPO and is now listed, positioning itself for future growth and expanded market presence.