Shadowfax Technologies share price
NSE: SHADOWFAXBSE: 544685Transport ServicesSmall Cap
Shadowfax Technologies Limited · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jan 2026 · Issue price ₹124
Last close ₹294.35up ₹3.95 (1.36%)BSE ₹294.30
Share price at the NSE close on 29 Oct 2026. Previous close ₹290.40.
29 Oct: open ₹289.90, high ₹301.75, low ₹276.70
Range of traded prices from listing on 28 Jan 2026 to 29 Oct 2026
₹98.55Low, 30 Jan 2026₹302.35High, 12 Oct 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹17,277 Cr589th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 77.11
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 9.15
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonesince listing in Jan 2026
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the latest balance sheet's; the one a year before is not on record.
- 11.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 10.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,22,16,10426.6% delivered
About Shadowfax Technologies
Shadowfax Technologies Limited is a Bengaluru-based third-party logistics company that delivers parcels and orders across India for e-commerce marketplaces, quick commerce and food delivery platforms, on-demand mobility services and direct-to-consumer brands.12 Substantially all of its last-mile deliveries are made by a crowdsourced network of delivery partners, in which one partner can carry e-commerce, food and quick commerce orders on a single app.3
Shadowfax reports a single business segment, logistics and delivery services, run through 3 service lines.45 Express is parcel delivery for e-commerce clients, with return pickups, doorstep exchanges and same-day and next-day Prime delivery; Hyperlocal covers quick commerce, food and on-demand delivery and mobility services; other logistics services cover high-value shipments through CriticaLog and dark store operations.56 Its in-house technology includes Frodo, which manages delivery partners, SF Maps, which reads Indian addresses, and SF Shield, which detects fraud.7
Shadowfax was incorporated on 21 April 2015 and listed on BSE and NSE on 28 January 2026, raising ₹1,000 crore through its initial public offering (IPO).28 Criticalog India Private Limited, which handles critical and high-value shipments, has been its subsidiary since 28 January 2025.93 Its promoters include Abhishek Bansal, its chairman, managing director and chief executive, and Vaibhav Khandelwal, its whole-time director and chief technology officer, both with the company since its founding.10
Shadowfax Technologies key points
Results
- In the year to Mar 2026, consolidated revenue from operations grew 69.1% to ₹4,202.44 crore and profit after tax rose to ₹111.71 crore from ₹6.43 crore, the company's first year of profit above ₹100 crore.1112
- Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation), excluding other income, was ₹211.84 crore in the year to Mar 2026, against ₹56.19 crore a year earlier.13
- Adjusted EBITDA, the company's own measure that adjusts EBITDA for share-based payment costs, lease accounting and one-time items, was ₹159.2 crore in the year to Mar 2026, a 3.8% margin.1415
- In the quarter to Jun 2026, consolidated revenue from operations rose 64.9% to ₹1,358 crore from ₹824 crore, profit after tax was ₹65 crore against ₹8 crore, and adjusted EBITDA rose 181% to ₹67 crore, a 4.9% margin.161718
Market position
- The company estimates its share of India's third-party express parcel market at 28% to 30% in the quarter to Jun 2026.1920
- On its earnings call of 31 Jul 2026, the company said it believes it holds more than 50% of outsourced quick commerce deliveries.21
- The company puts its D2C (direct-to-consumer brand) market share at more than 12% in the quarter to Jun 2026.22
Revenue mix
Customers and partners
- In the year to Mar 2026, 2 customers each accounted for more than 10% of the group's revenue.25
- The company began quick commerce deliveries for Amazon Now in the year to Mar 2026; on 31 Jul 2026 it said Amazon express parcel volumes had started and Amazon was among its top 10 customers.2627
- CriticaLog, the group's high-value logistics subsidiary, serves more than 500 customers in segments such as jewellery, luxury apparel and electronics.28
Network and capital spending
- At the end of June 2026 the network reached about 16,372 pin codes, 716 opened in the quarter, with 5,095 touchpoints (first, middle and last-mile facilities) and over 53 lakh square feet of operations space.2930
- In the quarter to Jun 2026 an average of more than 2.9 lakh delivery partners made deliveries, and the company had more than 5,900 permanent employees and 20,600 contract workers.31
- The company delivered 24.7 crore orders in the quarter to Jun 2026, against 13.5 crore a year earlier: 19.8 crore Express parcels and 4.9 crore Hyperlocal orders.32
- Capital spending was ₹185 crore in the year to Mar 2026, 4.4% of revenue, 69% of it on network and automation; in the quarter to Jun 2026 it was about ₹60 crore, 77% on network and automation.333435
Newer services
- In the quarter to Jun 2026, D2C revenue from Prime and Shadowfax 360 was 2.7 times its level a year earlier; more than 400 D2C brands use Prime, the company's same-day and next-day delivery service.3637
- Shadowfax 360, a platform where small businesses and D2C brands sign themselves up, had more than 1,200 transacting sellers within 90 days of launch.3738
- Prime Large, the company's service for heavier deliveries, grew revenue more than 170% year on year in the quarter to Jun 2026, to an annualised run rate (latest revenue scaled to a year) of ₹75 crore.3940
- Dark stores (small local warehouses stocked for fast delivery) run by the company rose from 15 in Mar 2026 to 47 at the end of June 2026, in 6 metro cities, with 20 more on the way.4142
What the company expects
- On its earnings call of 31 Jul 2026, the company said it had raised its revenue growth guidance for the year to Mar 2027 to 38% to 40%, from 27% to 30%, with its margin path unchanged.43
- On its earnings call of 31 Jul 2026, the company said Prime Large had reached 10,000 pin codes, its target for the year to Mar 2027, and raised the target to 12,000.44
- The company stated in its annual report for the year to Mar 2026 that it plans to set up 100 dark stores in the year to Mar 2027.45
- The company stated in its annual report for the year to Mar 2026 that, from 15,656 of about 19,300 serviceable pin codes at Mar 2026, it targets about 17,000 by Mar 2027 and national coverage by Mar 2028.4630
Recent events
- On 16 Oct 2026 the board approved incorporating a wholly owned subsidiary in India for logistics and other services, not yet incorporated as of that filing.4748
- Criticalog India Private Limited became a wholly owned subsidiary on 17 Apr 2026, when the company bought the last tranche of its shares.4950
Last updated
All 50 sources, each with its page
- 1. Annual report, 6 Oct 2026, page 97
- 2. Annual report, 6 Oct 2026, page 214
- 3. Annual report, 6 Oct 2026, page 71
- 4. Annual report, 6 Oct 2026, page 260
- 5. Annual report, 6 Oct 2026, page 97
- 6. Annual report, 6 Oct 2026, page 97
- 7. Annual report, 6 Oct 2026, page 52
- 8. Annual report, 6 Oct 2026, page 29
- 9. Annual report, 6 Oct 2026, page 82
- 10. Annual report, 6 Oct 2026, page 11
- 11. Annual report, 6 Oct 2026, page 98
- 12. Annual report, 6 Oct 2026, page 71
- 13. Annual report, 6 Oct 2026, page 71
- 14. Annual report, 6 Oct 2026, page 29
- 15. Annual report, 6 Oct 2026, page 98
- 16. Investor presentation, 31 Jul 2026, page 10
- 17. Investor presentation, 31 Jul 2026, page 28
- 18. Investor presentation, 31 Jul 2026, page 8
- 19. Investor presentation, 31 Jul 2026, page 7
- 20. Investor presentation, 31 Jul 2026, page 6
- 21. Earnings call, 31 Jul 2026, page 12
- 22. Investor presentation, 31 Jul 2026, page 20
- 23. Investor presentation, 31 Jul 2026, page 10
- 24. Annual report, 6 Oct 2026, page 98
- 25. Annual report, 6 Oct 2026, page 260
- 26. Annual report, 6 Oct 2026, page 40
- 27. Earnings call, 31 Jul 2026, page 16
- 28. Annual report, 6 Oct 2026, page 100
- 29. Earnings call, 31 Jul 2026, page 4
- 30. Investor presentation, 31 Jul 2026, page 19
- 31. Investor presentation, 31 Jul 2026, page 5
- 32. Investor presentation, 31 Jul 2026, page 10
- 33. Annual report, 6 Oct 2026, page 50
- 34. Investor presentation, 31 Jul 2026, page 15
- 35. Earnings call, 31 Jul 2026, page 9
- 36. Earnings call, 31 Jul 2026, page 4
- 37. Investor presentation, 31 Jul 2026, page 20
- 38. Annual report, 6 Oct 2026, page 43
- 39. Earnings call, 31 Jul 2026, page 5
- 40. Investor presentation, 31 Jul 2026, page 21
- 41. Earnings call, 31 Jul 2026, page 5
- 42. Investor presentation, 31 Jul 2026, page 18
- 43. Earnings call, 31 Jul 2026, page 3
- 44. Earnings call, 31 Jul 2026, page 5
- 45. Annual report, 6 Oct 2026, page 27
- 46. Annual report, 6 Oct 2026, page 100
- 47. Exchange filing, 16 Oct 2026, page 1
- 48. Exchange filing, 16 Oct 2026, page 2
- 49. Annual report, 6 Oct 2026, page 82
- 50. Exchange filing, 17 Apr 2026, page 1
Results
Consolidated; ₹ crore.Shadowfax Technologies quarterly results
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,538 Crup 13.22%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹68 Crup 3.90%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 4.4%
Revenue by quarter
Peak revenue ₹1,538 Cr, quarter to Sep 2026; lowest ₹1,160 Cr, quarter to Dec 2025
Net profit by quarter, a loss in red
| ₹ crore | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|
| Revenue | 1,160 | 1,237 | 1,358 | 1,538 |
| Net profit | 35 | 56 | 65 | 68 |
| Net margin | 3.0% | 4.5% | 4.8% | 4.4% |
Consolidated. The 4 quarters from Dec 2025, the first on record. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026
- Revenue
- ₹4,202 Cr
- Net profit
- ₹112 Cr
- Net margin
- 2.7%
| ₹ crore | Mar 2026 |
|---|---|
| Revenue | 4,202 |
| Net profit | 112 |
| Net margin | 2.7% |
Consolidated. Years to March. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, logistics and delivery services, which carries all its revenue.
Mutual fund holdings
66 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before.All 66 funds holding Shadowfax Technologies
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 17
- AddedAdded. Funds that held more shares than at the end of the month before.
- 11
- CutCut. Funds that held fewer shares than at the end of the month before.
- 6
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 32
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 5
| Fund | |||
|---|---|---|---|
 ICICI Prudential Flexi Cap FundICICI Prudential Mutual Fund | 1,71,95,316 | 1.92% | ₹481.9 Cr |
 Nippon India Small Cap FundNippon India Mutual Fund | 1,34,37,356 | 0.47% | ₹376.6 Cr |
| ICICI Prudential Small Cap FundICICI Prudential Mutual Fund | 1,32,43,626 | 3.79% | ₹371.2 Cr |
 HSBC Midcap FundHSBC Mutual Fund | 1,06,05,994 | 1.77% | ₹297.2 Cr |
| ICICI Prudential Balanced Advantage FundICICI Prudential Mutual Fund | 1,04,24,990 | 0.41% | ₹292.2 Cr |
 Motilal Oswal Multi Cap FundMotilal Oswal Mutual Fund | 50,00,846 | 3.05% | ₹140.1 Cr |
 Bandhan Large & Mid Cap FundBandhan Mutual Fund | 36,38,755 | 0.49% | ₹102.0 Cr |
| Motilal Oswal Small Cap FundMotilal Oswal Mutual Fund | 34,96,230 | 1.18% | ₹98.0 Cr |
 Kotak-Small Cap FundKotak Mahindra Mutual Fund | 32,82,480 | 0.48% | ₹92.0 Cr |
| ICICI Prudential Transportation and Logistics FundICICI Prudential Mutual Fund | 31,14,300 | 2.22% | ₹87.3 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 30 Oct 2025.Shadowfax Technologies insider trading
Bought on the marketBought on the market. The value each filer stated for its purchases on the exchange, added up; gifts, transfers and pledges are not counted. A purchase filed with no value is counted under the sum, not in it. Sold on the marketSold on the market. The value each filer stated for its sales on the exchange, added up; gifts, transfers and pledges are not counted. A sale filed with no value is counted under the sum, not in it.
- Others0 purchases, 6 salesNo purchase₹1.18 CrNetNet. The value bought on the market less the value sold, over the trades whose filers stated a value.−₹1.18 Cr33 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Shadowfax Technologies competitors and peers
Logistics Solution Provider, 85 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Shadowfax Technologies in market cap.Services companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Container Corporation of IndiaCONCOR | 32,068 | 25.82 | 2.48 | +1.7% | −4.2% | 9.8% | 10.4% | 2.04% |
 DelhiveryDELHIVERY | 29,769 | 318.26 | 3.07 | +23.1% | −52.9% | 1.0% | −1.1% | 0.00% |
 Blue Dart ExpressBLUEDART | 10,063 | 35.06 | 5.66 | +9.2% | +15.8% | 17.2% | 23.5% | 0.59% |
 ShiprocketSHIPROCKET | 9,346 | – | – | – | – | – | – | 0.00% |
 Transport Corporation of IndiaTCI | 6,608 | 14.28 | 2.37 | +11.5% | +6.6% | 17.9% | 12.7% | 1.14% |
 TVS Supply Chain SolutionsTVSSCS | 4,915 | 75.89 | 2.42 | +16.9% | +28.8% | 3.4% | 7.2% | 0.00% |
 VRL LogisticsVRLLOG | 4,729 | 17.69 | 4.14 | +5.6% | +21.8% | 24.0% | 26.7% | 1.85% |
 Mahindra LogisticsMAHLOG | 4,241 | 56.48 | 3.52 | +20.3% | – | 6.4% | 12.7% | 0.59% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Latest announcements
Routine notices left out.Shadowfax Technologies announcements
Oct 2026
29 Oct · Results
16 Oct · General Updates
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 292.30 | 294.90 | 287.20 | 290.40 | 290.61 | 17,56,659 | 56.8% |
| 27 Oct 2026 | 287.50 | 297.35 | 285.15 | 292.30 | 293.18 | 33,54,759 | 57.0% |
| 26 Oct 2026 | 275.45 | 287.20 | 272.30 | 285.80 | 280.91 | 38,29,820 | 49.3% |
| 23 Oct 2026 | 276.00 | 276.00 | 262.95 | 274.05 | 269.62 | 40,89,230 | 43.6% |
| 22 Oct 2026 | 271.85 | 279.00 | 265.30 | 276.25 | 272.42 | 47,76,198 | 44.3% |
| 21 Oct 2026 | 284.50 | 285.80 | 269.60 | 272.50 | 274.28 | 40,17,167 | 56.5% |
| 19 Oct 2026 | 289.15 | 290.80 | 281.70 | 284.25 | 284.85 | 16,90,228 | 41.7% |
| 16 Oct 2026 | 286.10 | 291.00 | 285.75 | 289.35 | 288.34 | 13,58,500 | 40.7% |
| 15 Oct 2026 | 295.00 | 296.90 | 283.55 | 285.90 | 288.18 | 24,02,663 | 53.6% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- SHADOWFAX
- BSE code
- 544685
- ISIN
- INE12UN01015
- Industry
- Transport Services
- Website
- www.shadowfax.in
- CIN
- U72300KA2015PLC150324
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2015
- Registered office
- Shilpitha Tech Park Sy No. 55/3 & 55/4, 3rd Floor, Outer Ring Road, Devarabisanahalli Village, Bellandur, Varthur Hobli, Bengaluru 560103, Karnataka
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments