Unicommerce eSolutions (UNIECOM) Q4 24/25 earnings summary

Executive summary

• Achieved 100% acquisition of Shipway Technology Private Limited, fully consolidated from December 17, 2024, expanding the product suite and enhancing cross-sell opportunities.

• Shipway reached Adjusted EBITDA break-even in Q4 FY 2025, following a small loss in Q3 FY 2025, due to realized synergies and operational efficiencies.

• Added over 125 enterprise clients to Uniware in Q4 FY 2025, the highest-ever quarterly addition, including notable brands across multiple sectors.

• Product suite now includes ConvertMate (AI marketing automation), Uniware (supply chain management), and Shipway (logistics platform), with ongoing positive momentum across all lines.

• Completed IPO in August 2024, raising Rs 2,765.72 million via offer for sale; shares listed on NSE and BSE.

Financial highlights

• Q4 FY 2025 consolidated revenue grew 70.6% YoY to INR 452.7 million; Adjusted EBITDA rose 98.1% YoY to INR 88.8 million; PAT increased 16.4% YoY to INR 33.5 million.

• FY 2025 consolidated revenue up 30.1% YoY to INR 1,347.9 million; Adjusted EBITDA up 56.3% to INR 283.9 million; PAT up 34.3% to INR 176.2 million.

• Gross margin for FY25 at 69.4%, down from 78.5% in FY24; Adjusted EBITDA margin improved to 21.1% from 17.5%.

• Cash and bank balance at March 31, 2025 was INR 353 million, down from INR 690.1 million YoY, mainly due to Shipway acquisition outflow.

• Net cash flow from operations improved to INR 279.6 million in FY 2025 from INR 61.7 million in FY 2024.

Outlook and guidance

• Focus remains on disciplined execution, scaling revenue, enhancing efficiencies, and driving sustainable, profitable growth into FY 2026.

• Growth drivers include under-penetrated Indian e-commerce market, a total addressable market over $1.15 billion, and continued new client acquisitions and cross-selling.

• Revenue run rate at end of FY 2025 was approximately INR 180 crore, with expectations to exceed this in FY 2026.

• Ongoing technology investments in automation, supply chain, and returns solutions expected to drive future growth.

• Awaiting regulatory approval to complete full share swap for remaining Shipway stake.