Shadowfax Posts Maiden Quarterly Profit, Plans 100 Dark Stores in FY27
Shadowfax turned profitable in Q4 FY26 with ₹55.8 Cr net profit on ₹1,237 Cr revenue (+73.6% YoY). Express orders surged 129% to 18 Cr, hyperlocal hit 4.2 Cr. The 3PL plans to scale dark stores from 15 to 100 with ₹190 Cr capex, riding India's quick commerce wave projected to 8X to $68 Bn by 2031.
What happened
Shadowfax turned profitable in Q4 FY26 with ₹55.8 Cr net profit on ₹1,237 Cr revenue, plans 100 dark stores in FY27. India's quick commerce GMV projected to 8X
Key facts
- Net profit ₹55.8 Cr Q4 FY26
- Revenue ₹1,237 Cr +73.6% YoY
- Adj EBITDA ₹58 Cr
- Express orders 18 Cr +129% YoY
- Hyperlocal 4.2 Cr orders
- 15,656 pin codes
- 2.6 Lakh delivery partners
- 30% 3PL express market share
- Dark stores 15 to 100 in FY27
- Capex ₹190 Cr
- QC GMV $68 Bn by 2031 (8X)
- F&G ecom 28% CAGR
- Mettle Capital $350-400 Mn fund
- EaseMyTrip ₹500 Cr rights issue
- Gameskraft ₹526.49 Cr assets frozen
Why this matters
Shadowfax's pivot from pure 3PL to operating 100 dark stores positions it as both partner and competitor to quick-commerce platforms, opening windows for exclusivity deals, minority stakes, or defensive logistics M&A before FY27.