Unicommerce eSolutions (UNIECOM) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 revenue grew 9.2% year-on-year to INR 274.7 million, with adjusted EBITDA up 23.2% to INR 44.7 million and PAT up 31.1% to INR 35.12 million.

• Processed 212.77 million order items in Q1 FY25, up 35% year-on-year, and added 85+ new enterprise clients, expanding the base to 855.

• Launched new products UniShip and UniReco, and AI tool UniGPT, with positive early feedback and continued international expansion across six countries.

• Maintained a sticky, SaaS-based business model with 100%+ net revenue retention from enterprise clients.

• Quarterly financial results for the period ended June 30, 2024, have been audited and present a true and fair view in accordance with Indian Accounting Standards.

Financial highlights

• Revenue for Q1 FY25 was INR 274.7 million, up from INR 251.6 million in Q1 FY24.

• Adjusted EBITDA grew 23.2% year-on-year to INR 44.7 million, with margins improving to 16.3% from 14.4% last year.

• Profit after tax increased nearly 31.1% year-on-year to INR 35.12 million.

• Annual recurring revenue as of Q1 FY25 stood at INR 1,099 million.

• Gross margin reached 78.5% in Q1 FY25, up 110 bps year-on-year.

Outlook and guidance

• Management expects higher growth in H2 FY25 due to festive seasonality, e-commerce recovery, and new product launches.

• Confident in delivering market-plus growth, driven by transaction growth, new client additions, and international expansion.

• Medium to long-term e-commerce market growth in India estimated at 23–25%+, with significant headroom for SaaS enablement adoption.

• New product development initiated for integrated solutions in payment reconciliation and supply chain automation.