Shadowfax delivered a record Q4 FY26 with revenue of ₹1,237 crore (+74% YoY) and adjusted EBITDA margin of 4.7% (+40bps QoQ).
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Loss and damage shipments (including quality check debits) stood at 6.1% of revenue in Q4, above the long-term target of 4-5%. Management is investing in technology to reduce this.
medium · analyst_questionRising crude prices could increase logistics costs, though management notes fuel is <10% of costs and contracts have fuel surcharge clauses.
low · analyst_questionAmazon's global shipping network expansion could pose competitive pressure, but management believes captive arms deprioritize external customers during peaks and have not gained meaningful traction in India.
low · analyst_questionScaling from 15 to 100 dark stores in FY27 involves significant operational complexity and capital allocation; unit economics at scale are unproven.
medium · data_observation