Shadowfax Technologies, a provider of e-commerce express parcels and value-added services (VAS), has recorded profitability in both adjusted PAT and EBITDA for the financial year.
The company’s revenue grew by 33 per cent to ₹1,884.8 crore in FY24 from ₹1,415.1 crore in FY23 . The EBITDA improved, shifting from a loss of ₹113.5 crore in FY23 to a profit of ₹11.4 crore in FY24, while Adjusted PAT moved from a loss of ₹123.8 crore to a profit of ₹2 crore.
Last year, Shadowfax launched Prime Delivery, offering Same Day and Next Day delivery services to over 200 brands in the top 50 metros across the country.
This service has seen rapid growth, with almost 10 per cent of the company’s total orders now falling into the Prime category.
The company noted that it is currently the largest 3PL in Quick Commerce, collaborating with brands leading this space to facilitate last-mile delivery. The company recently crossed 250K daily orders in this segment and has experienced more than a five-fold growth here in the past year.
Abhishek Bansal, CEO of Shadowfax Technologies, commented: “We are thrilled with last year’s performance, particularly in how our efforts have transformed the D2C logistics landscape. Our innovations, like Prime Same Day Delivery and Quick Commerce 10 minute to 2 hour delivery services, are creating powerful differentiators for our partners, allowing them to meet consumer expectations faster and more efficiently. Additionally, technology advancements such as Shadowfax Maps and Shield have enabled us to scale operations, improve delivery accuracy, and optimize resources in ways that significantly enhance the experience for both our partners and their customers.”
Shadowfax has further diversified its revenue streams, with the majority share now coming from value-added services (VAS). These services include Prime solutions (Same Day and Next Day delivery), Reverse Logistics, Hand-to-Hand Exchange, and the rapidly expanding Quick Commerce (10-minute delivery).
Over the past few years, Shadowfax has accelerated its investments in the middle-mile network, exceeding Rs 200 crore to automate its 40 sort centers, which now span over 1 million square feet, the company said. On the technology front, key innovations such as Shadowfax Maps for enhanced delivery accuracy and Shadowfax Shield for fraud detection have significantly boosted operational efficiency, driving this financial success.