Shiprocket Limited — Q1FY27 earnings call summary

Filed 11 September 2026 · Official transcript

Q1 FY27 revenue grew 34% y-y to INR592 Cr; core revenue up 22%, emerging up 70%
Customer acquisition cost fluctuates but breaks even quickly; focus on profitable growth
Core EBITDA margin improved to 12.8%, emerging EBITDA loss narrowed from -38% to -24%
Adjusted EBITDA grew 9x to INR8.9 Cr; EBITDA per transaction rose from INR0.22 to INR1.45
Larger merchants grow faster; mix shift and operating leverage improving margins
Transactions grew 36%, GMV up 31%; merchant count up 14%, ARPU up 18%
Emerging segment growth driven by omnichannel (92%) and rapid Martech expansion
Seasonality: Q3 weaker due to merchants shifting to marketplaces