On the day of the earnings release, Shadowfax Technologies traded at ₹298.35 on the BSE, up 2.74% from the previous close. The company reported Q2 net profit of ₹68 crore, up 517% YoY, on revenue of ₹1,538 crore, a 57% jump from ₹982 crore a year ago.
Operating income swelled to ₹104.3 crore from ₹39 crore, while EBITDA margin expanded to 6.8% versus 4% in Q2 FY25. The lift came from higher order volumes and improved cost discipline, with freight and technology segments each reporting double‑digit revenue growth.
Analysts had expected a ₹1.2‑billion revenue and ₹50‑crore net profit; the actual results beat both by roughly 25% and 36% respectively. In the broader third‑party logistics sector, Delhivery posted a 30% revenue rise, leaving Shadowfax with a sharper growth profile.
Kotak Institutional Equities has just started coverage, projecting FY26‑FY30 revenue growth at 1.4× the industry average. The brokerage also flagged potential market share gains in the under‑penetrated domestic last‑mile segment. With the next earnings due on December 15, investors will focus on whether the company can sustain its margin expansion and scale its technology stack.