Shadowfax Technologies Limited · NSE:SHADOWFAX
Shadowfax Technologies — Q1 FY27 Earnings Presentation
28 slides from Shadowfax Technologies's earnings presentation, Jul 31, 2026
Slide 1: Exchange filing cover letter: Earnings Presentation
~ SHADOWFAX Think ahead! July 31, 2026 To National Stock Exchange of India Ltd BSE Limited Exchange Plaza, C/1, Block G, P J Towers, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai – 400 051 Mumbai – 400 001 NSE Symbol: SHADOWFAX BSE Scrip Code: 544685 Dear Sir/ Madam, Sub: Earnings Present
Slide 2: Q1 FY27 Shadowfax Technologies
Q1 FY27 SHADOWFAX TECHNOLOGIES Fast. Flexible. Future-Ready. 31st July 2026
Slide 3: Safe Harbour Statement
Q1FV271Shadowfax Safe Harbour Statement ~ SHADOWFAX Think ahead! This presentation contains forward-looking statements, which are subject to risks and 0 uncertainties that could cause actual results to differ materially from those expressed or implied. These statements are based on current expectati
Slide 4: New Age, Technology-led Third-Party Logistics Company
~ SHADOWFAX Think ahead! “We are a New Age, Technology-led Third-Party Logistics Company, Enabling Digital Commerce Penetration in India” Fast. Flexible. Future-Ready. 3 3
Slide 5: Our Operating Network | Expansive Footprint with Asset-Right Strategy
Q1FV271Shadowfax Our Operating Network | Expansive Footprint with Asset-Right Strategy ~ SHADOWFAX Think ahead! Horizontal E-Commerce Extensive Mesh 5,095 16,372 53L+ SFT 3,500+ Network Non-Horizontal Touch Points Pin Code Reach Operations Space Trucks on Daily Basis •• E-Commerce • Quick Commerce F
Slide 6: Market Share Expansion | India's Fastest Growing Third-Party Logistics Company
Q1FV271Shadowfax Market Share Expansion | India’s Fastest Growing Third-Party Logistics Company ~ SHADOWFAX Think ahead! Continued Market Share Gains for Last 4 Years Market Leadership across… # Express orders per day re-based to 100 as of FY22(1,2) ~ 8% Consistently Gained Market Share 28%-30% 3PL
Slide 7: Service Portfolio | Market Leadership in Value Added Services
Q1FV271Shadowfax Service Portfolio | Market Leadership in Value Added Services ~ SHADOWFAX Think ahead! Express ., ., ., -- -------------------------------------------------,,, ' '' I I I I ,, " " Forward 0 Reverse Pickup and Prime ' \ \ \ \ I Others I Hyperlocal Express Parcel Hand in Hand Exchange
Slide 8: Quarterly Highlights
QlFY27IShadowfax Executive Summary ~ SHADOWFAX Quarterly Repeating FY26 High Growth Pace With Improving Margins Think ahead! Highlights • Broad-Based Volume Growth Across Services • Delivered 24.7 Cr customer orders across Express & Hyperlocal • 9% sequential order growth over Q4 FY26 • 19.8 Cr Expr
Slide 9: Q1 Update | Setting Up For Another High-Growth Year
Q1FV271Shadowfax Q1 Update | Setting Up For Another High-Growth Year After a Landmark FY26 ~ SHADOWFAX Think ahead! Revenue Scale Express Hyperlocal 1,358 INR Cr 24.7 Cr 997 INR Cr 272 INR Cr From Operations Total Orders Revenue Revenue 1' 64.9% vs Q1 FY26 1' 83.3% vs Q1 FY26 1' 87.3% vs Q1 FY26 53.
Slide 10: Key Performance Indicators | Gearing Up for a Strong October 2026 Festive Season
Q1FV271Shadowfax Key Performance Indicators | Gearing Up for a Strong October 2026 Festive Season ~ SHADOWFAX Think ahead! METRIC UNIT Q1 FY27 Q1FY26 YOY % Q4 FY26 QOQ % Pin code reach 15,656 16,372 14,357 Express Orders Cr 19.8 10.2 94.9% 18.4 7.6% 14% YoY 5% QoQ Q1FY26 Q4FY26 Q1FY27 Hyperlocal Ord
Slide 11: Revenue Performance | 65% YoY Revenue Growth
Q1FV271Shadowfax Revenue Performance | 65% YoY Revenue Growth driven by Robust Order Volumes ~ SHADOWFAX Think ahead! Revenue from Operations Total Orders - ... 1,358 INR Cr 24.7 Cr In Q1 FY27 In Q1 FY27 1' 64.9% YoY 9.8% QoQ 1' 83.3% YoY 9.2% QoQ 1,358 24.7 1,237 22.6 1,160 20.6 982 824 16.0 13.5 Q
Slide 12: Segmental Performance | Sequential Growth Across Every Business Line
Q1FV271Shadowfax Segmental Performance | Sequential Growth Across Every Business Line ~ SHADOWFAX Think ahead! Express Revenue ii Express Orders 925 997 INR Cr Cr Volume 18.4 19.8 533 1' 87% YoY 1' 95% YoY 10.2 1' 8% QoQ 1' 8% QoQ Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 272 Hyperlocal Revenue 232
Slide 13: Profitability | Steady, Sustainable Margin Expansion
Q1FV271Shadowfax Profitability | Steady, Sustainable Margin Expansion ~ SHADOWFAX Think ahead! Adjusted EBITDA 181% YoY Increase Profit After Tax 716% YoY Increase Strong operating leverage playing out Accelerated bottom-line growth • Abs. Value (INR Cr) .... Margin % 4.7% 4.9% • Abs. Value (INR Cr)
Slide 14: Balance Sheet & Cash Flow
Q1FV271Shadowfax Balance Sheet & Cash Flow ~ SHADOWFAX Think ahead! Balance Sheet Summary (INR Cr) Cash Flow Statement Summary (INR Cr) Particulars Jun 30, 2026 Mar 31, 2026 For the quarter For the FY ending Particulars ending Jun 30, 2026 Mar 31, 2026 ASSETS Profit / (Loss) Before Tax 65 111 Proper
Slide 15: Capital Investment Strategy | Investing Ahead of Peak Festive Demand
Q1FV271Shadowfax Capital Investment Strategy | Investing Ahead of Peak Festive Demand ~ SHADOWFAX Think ahead! FY26 Capex Q1 FY27 Capex Scale-Ready Capacity Dec-25 Mar-26 Jun-26 10% 12% 10% 45L+ 47L+ 53L+ 14% 3% Operations space in SFT Acceleration in line with rising volumes 5% 69% 77% Efficiency a
Slide 16: Strategic Outlook: Investing for Tomorrow
Strategic Outlook - Investing for Tomorrow. Four growth engines scaling value-added segments of Indian logistics – across speed, value and versatility: • Quick Commerce and Dark Stores • Network Coverage • Prime • Prime Large
Slide 17: Growth Strategy | Four Engines – All Running Ahead of Plan
Q1FY271Shadowfax Growth Strategy ~ SHADOWFAX Think ahead! Four Engines – All Running Ahead of Plan Building distinct capabilities across the logistics spectrum — delivering high agility, speed, weight, and reach IHIGH AGILITY I WIDE REACH HIGH SPEED IHIGH WEIGHT I QUICK-COMM COVERAGE PRIME PRIME LAR
Slide 18: Quick Commerce & Dark Stores | Powering the Next Wave of Vertical-Brands Growth
Q1FY271Shadowfax Quick Commerce & Dark Stores | Powering the Next Wave of Vertical-Brands Growth ,..,.SHADOWFAX Deepening the Quick Commerce moat with dedicated, curated dark stores Think ahead! Quick Commerce Last-mile delivery, market leader scaling the next wave Position Growth Thesis #1 in India
Slide 19: Network Coverage | 716 New Pin Codes Opened in the Quarter
Q1FY27l5hadowfax Network Coverage | 716 New Pin Codes Opened in the Quarter ,..,.SHADOWFAX Continuous real-estate and geographic expansion across the network Think ahead! Densifying Coverage, State by State Pincodes served Network touchpoints 16,372 Q1 FY27 5,095 Q1 FY27 716 New Pin codes additions
Slide 20: Prime and Shadowfax | D2C Revenue Up 2.7x YoY
Q1FY27l5hadowfax Prime and Shadowfax 360 | D2C Revenue Up 2.7x YoY on Robust Market-Share Gains ,..,.SHADOWFAX High speed intracity same day and intercity next day delivery; SF 360 purpose-built for SMEs Think ahead! Growth Thesis Market Potential 15L+ marketplace sellers (1) Structural D2C Tailwind
Slide 21: Prime Large | Full-Year Pin Code Target Already Achieved in Q1
Q1FY27l5hadowfax Prime Large | Full-Year Pin Code Target Already Achieved in Q1 ,..,_.SHADOWFAX Comprehensive solution for heavy & volumetric categories Think ahead! Revenue growth Pincodes served 170%+ vs Q1 FY26 10K Q1 FY27 75 Cr Annualized Run Rate → ▲ +4K vs Q4 FY26 FY27 pin code coverage target
Slide 22: Strategic Outlook: Building AI that delivers
Strategic Outlook - Building AI that delivers AI integration across the network – Compounding efficiency, elevating experience and sustaining margins • Delivery Partner Buddy • AI-driven Quality Control
Slide 23: Delivery Partner Buddy | The AI Copilot for Every Rider
Q1FY271Shadowfax Delivery Partner Buddy | The AI Copilot for Every Rider ~ SHADOWFAX Think ahead! AI-powered knowledge engine integrated with our core systems, resolving any rider query instantly and in multiple languages Real rider conversations Problems we are solving • Queries span the rider’s wh
Slide 24: AI Quality Control at Pickup | Vision AI for Reverse Logistics
Q1FY271Shadowfax AI Quality Control at Pickup | Vision AI for Reverse Logistics ~ SHADOWFAX Think ahead! Real-time model that verifies every reverse pickup against the catalogue images resolving mismatches at the doorstep, before they become losses The model in action Problems we are solving Catalog
Slide 25: Thank You
Thank You ~ SHADOWFAX Think ahead! Fast. Flexible. Future-Ready
Slide 26: Adjusted EBITDA Bridge | Reconciliation
Ql FV27 I Shadowfax I Appendix Adjusted EBITDA Bridge | Reconciliation ~ SHADOWFAX Think ahead! Particulars (Amounts in INR Cr) Q1 FY27 Q4 FY26 Q1 FY26 FY26 Revenue From Operations 1,358 1,237 824 4,202 (-)Less: Employee Benefit Expenses 123 112 83 393 (-)Less: Other Expenses 1,143 1,044 715 3,598 I
Slide 27: Cost Breakdown | Margin Expansion Despite Diesel, Minimum Wages Impact
Ql FV27 I Shadowfax I Appendix Cost Breakdown | Margin Expansion Despite Diesel, Minimum Wages Impact ~ SHADOWFAX Think ahead! % of Revenue from Operations Q1 FY27 Q4 FY26 Q1 FY26 FY26 Revenue from Operations % 100% 100% 100% 100% Employee Benefit Expenses % (1) 8.9% 8.9% 9.3% 8.8% Partner Expenses
Slide 28: KPI Definitions
Ql FV27 I Shadowfax I Appendix KPI Definitions ~ SHADOWFAX Think ahead! METRIC Definition Express Orders Express orders refer to the number of shipments for the express service line. Hyperlocal Orders Hyperlocal Orders refer to the number of shipments for the hyperlocal service line. Total Orders To
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