Shiprocket Limited reported first-quarter fiscal 2027 results in a transcript published on September 8, 2026, with revenue from operations rising 34% year over year to INR 592 crore, an acceleration from 24% growth in fiscal 2026. Management, including MD and CEO Saahil Goel and CFO Tanmay Kumar, said transactions grew 36% and gross merchandise value rose 31%. Adjusted EBITDA was INR 8.9 crore, nearly nine times the prior-year level and an improvement of INR 79 million. Loss before tax narrowed to INR 13.7 crore from a loss of INR 18 crore a year earlier, while profit after tax improved by INR 43 million.
Core business revenue was INR 411 crore, up 22% year over year. Emerging business revenue reached INR 182 crore, up 70%, and accounted for 30% of total revenue, compared with 24% a year earlier. Core adjusted EBITDA was INR 52.7 crore, and the core EBITDA margin reached 12.8%, up 50 basis points from a year earlier and scaled from 6% three years prior. The emerging segment's adjusted EBITDA margin improved to -24% from -38%. Contribution margin increased 43% year over year and 10% sequentially. Adjusted EBITDA per transaction rose to INR 1.5 from INR 0.22 a year earlier.
Merchant and usage metrics also strengthened. Merchant count grew 14% year over year to more than 224,000 on a trailing-12-month basis, while average revenue per user rose 18%. Over the trailing 12 months, the platform processed 216 million transactions and INR 34,600 crore in gross merchandise value. Omnichannel revenue rose 92%. Customer acquisition cost increased to INR 3,600 in the quarter, from INR 2,800 in the prior quarter and INR 3,100 in the same quarter a year earlier. The company said it had close to 1,500 employees.
Management described Shiprocket as India's largest e-commerce enablement platform by revenue, serving merchants and MSMEs that sell directly to consumers outside major marketplaces through social media, conversational commerce and independent websites. The platform connects with more than 250 partners, including 42 courier partners, payment gateways, warehousing providers and ERP or accounting providers, and draws data from more than 700 million transactions. For fiscal 2026, the company said it powered more than INR 32,000 crore in gross merchandise value, 20 crore transactions and about 50 crore consumers.
The company also highlighted new product initiatives, including QuickPay, which surfaces a shopper's preferred UPI app at checkout; Seal Deal, which recommends complementary products and gamifies shipping thresholds; AI Assist, a chatbot that uses a site's URL to answer pre-order product questions and post-order tracking or returns inquiries; AI Ads, which generates static banners, editable templates and 360-degree product spin views in minutes, tailored to brand performance context; and omnichannel dark-store management for quick-commerce purchase-order aggregation and delivery booking.
Shiprocket shares, listed under ticker SIPO, last quoted at $138.69, up $3.48, or 2.57%, from the previous close of $135.21. The stock traded within a 52-week range of $97 to $156.90, leaving it about 40.4% above its low and 11.6% below its high.
