Shares of Shadowfax Technologies Limited surged nearly 5% today, February 12, 2026, reaching approximately ₹118.18 on the NSE. The rally comes after the logistics major reported an explosive set of financial results for the quarter ended December 31, 2025 (Q3 FY26), marking its first earnings report since its stock market listing on January 28.
The company’s performance was highlighted by a multifold jump in profitability and significant top-line growth, primarily driven by its dominant presence in the quick commerce and e-commerce delivery sectors.
Q3 FY26 Financial Performance
Shadowfax’s maiden results post-IPO showcased strong operational leverage as revenue growth significantly outpaced the rise in expenses.
| Metric | Q3 FY26 (Dec 2025) | Q3 FY25 (Dec 2024) | Change (YoY) |
| Consolidated Revenue | ₹1,159.71 crore | ₹700.63 crore | +65.5% |
| Consolidated Net Profit (PAT) | ₹34.86 crore | ₹6.46 crore | +440% |
| Basic EPS | ₹0.69 | ₹0.14 | +393% |
Key Highlights for the Nine-Month Period (9M FY26)
The growth trajectory remained consistent across the broader fiscal year:
- 9M Revenue: Grew 67.3% to ₹2,965.35 crore.
- 9M Net Profit: Advanced 243% to ₹55.89 crore.
Strategic Drivers: The Quick Commerce Boom
The massive surge in revenue and profit is attributed to Shadowfax’s aggressive expansion into hyperlocal and high-frequency delivery segments.
- Quick Commerce Dominance: Shadowfax has become the primary third-party logistics (3PL) partner for platforms like Zepto and Blinkit, benefiting from the rapid consumer shift toward 10-minute deliveries in urban clusters.
- Network Expansion: The company’s reach now spans over 14,700 pin codes across India, supported by a fleet of over 200,000 active delivery partners.
- Profitability Pivot: After turning profitable in FY25, these Q3 results signal that the company has reached a sustainable “steady-state” where increased order density is rapidly expanding its thin operating margins.
Market Context & IPO Recovery
The 5% surge is particularly significant for investors who participated in the company’s recent IPO.
- Listing Background: Shadowfax had a subdued debut on January 28, listing at a 9% discount to its issue price of ₹124.
- Price Recovery: Today’s rally helps the stock recover most of its post-listing losses, bringing it closer to its original issue price. Analysts suggest that the robust Q3 numbers have provided the “fundamental floor” that was missing during the volatile IPO period.
What’s Next: Earnings Call
Shadowfax is scheduled to host its first-ever earnings conference call today, February 12, 2026, at 5:00 PM IST. The call, hosted by Morgan Stanley, will feature CEO Abhishek Bansal and the senior leadership team. Investors are expecting guidance on:+1
- Utilization of the ₹1,000 crore fresh issue proceeds for automation.
- Expansion plans into Tier-2 and Tier-3 cities for e-commerce reverse logistics.
- Targeted EBITDA margins for the full fiscal year FY26.
