Unicommerce Q2 FY27 Results: Unicommerce eSolutions, the e-commerce technology firm related to the Snapdeal group, witnessed an upswing in its revenue and profits for Q2 of FY27 (the second quarter of the financial year 2026-2027). The firm earned consolidated revenues from operations of ₹59.1 crore in the quarter ending September 30, 2026, which shows a 15% growth from ₹51.4 crore earned during the same quarter in the previous year.
The net profit went up from ₹5.8 crore last year to ₹6.4 crore, showing a rise of around 11%. The firm acquired 121 enterprise customers on its Uniware platform during the quarter, which enhanced its footprint in the domain of e-commerce software and order management.
Nonetheless, the quarterly performance showed rising expenses on account of growing investments in technology, sales, marketing, and personnel. The adjusted EBITDA fell year-on-year despite the rise in revenues and profits.
Revenue increased 15% to ₹59.1 Crore
Unicommerce reported revenue from operations of ₹59.1 crore in Q2 FY27 as against ₹51.4 crore in the same period last year. This is a result of the growth seen in its two main verticals of software and logistics. Uniware, its e-commerce operations platform, saw revenue growth of 14.5% year-on-year, while Shipway, its courier aggregation and shipping automation vertical, saw growth of 15.7%.
Uniware, according to the company, has registered its fifth straight quarter of acceleration in growth. This shows increasing demand for software that can help businesses manage their orders, inventory, warehousing, and other aspects of e-commerce operations.
Income from operations has gone up from ₹51.4 crore in Q1 FY27 to ₹59.1 crore in Q2 FY27. Taking into consideration other income of ₹1.6 crore, the total income for Q2 FY27 was ₹60.7 crore as against ₹52.2 crore in Q2 FY26.
Unicommerce Q2 FY27 Results: Net Profit Rises to ₹6.4 Crore
Net profits of the company on a consolidated basis were recorded at ₹6.4 crore in Q2 FY27, compared to ₹5.8 crore in Q2 FY26. On a sequential basis, profits were up from ₹4.7 crore in Q1 FY27, resulting in an increase of about 37%.
Even with the growth in net profits, operations were under stress due to high expenses. Total expenses increased by about 19% to ₹52.8 crore in comparison with ₹44.4 crore a year ago. Employee benefits expenses stood at ₹20.9 crore, whereas other expenses came in at ₹27.7 crore. Since expenses have outpaced revenues, profits before taxes were marginally down at about ₹7.8 crore.
The positive impact on the net profits came in through lower income-tax expenses. The company’s tax expense came down to ₹1.45 crore from ₹2 crore in the previous year’s quarter. The deferred tax expense was another reason for the positive number being recorded. The above explanation is important in this context since the growth in net profit was greater than that in profit before tax.
Adjusted EBITDA Declines as Company Invests in Growth
Adjusted EBITDA stood at ₹10 crore in Q2 FY27, while it was ₹11.4 crore in Q2 FY26, representing a fall of about 12%. The margin on adjusted EBITDA fell to 17%, while in the same period last year, it was 22.2%. The gross margin was down to 51.4% from 55% last year.
According to management, this change in the gross margin was due partly to the change in the composition of revenue from Uniware and Shipway businesses, both of which have a different margin structure.
The management believes that this pressure on profitability was due to planned investments in sales & marketing, AI-driven product development, and hiring of senior executives, most of which took place during the first half of FY27. The management expects the speed of this additional investment to ease off during the second half. The future outlook is such that profitability and leverage will improve with the reduced incremental investment and growth of the business.
Uniware Adds 121 Enterprise Clients
One of the important business developments seen in the quarter was the addition of 121 enterprise clients to Uniware, as compared to 103 in Q2 FY26. Uniware’s overall enterprise client base rose to 1,233, resulting in a year-on-year growth of around 20.5%.
The new clients added in the quarter included United Colours of Benetton, Amul Macho, Furlenco, Pushp Masale, JK Maini by Raymond, and Nish Hair.
Uniware is an e-commerce management tool that assists businesses in managing their e-commerce activities such as order management, inventory management, warehousing, return management, and payment management. These processes can get very complicated, especially if there is a brand selling its products from many different marketplaces and websites.
Having more enterprise clients would mean revenue from the software and other product sales. There are also plans to increase the engagement levels of the existing clients with the help of cross-selling and using additional platform modules.
Shipway Crosses ₹100 Crore Annualised Revenue Run Rate
The company’s courier aggregating and shipping automation platform called Shipway grew its revenue year-on-year by 15.7% in Q2 FY27. The annualised revenue run rate for Shipway increased to ₹100.6 crores compared to ₹86.9 crores reported in the corresponding period last year. Revenue run rate is an estimate of the annual revenue generated by recent revenue performance and not the revenue actually earned in a full fiscal year.
Shipway enables customers to manage their shipping activities and connect with courier services. The integration of Shipway with Uniware makes room for the company to provide multiple e-commerce automation services to customers.
Shipway said that around 20-25% of shipment volumes for Shipway came from Uniware customers. There could be scope for cross-selling more services to customers through the two platforms. However, Shipway Technology, the subsidiary in which Shipway and Convertway operate, continued to incur losses in the quarter. According to management’s investor disclosure, the company expects Shipway to be profitable in adjusted EBITDA terms in the December quarter and in net profits in the March quarter.
Unicommerce Launches AI Companion DNA
Unicommerce rolled out DNA, a second-generation artificial intelligence companion for the Uniware platform, in this quarter. The product is intended to detect operational issues, signalise relevant data, suggest actions and facilitate the correction of errors. The purpose of this tool is to make it easier for businesses to react to the issues that impact their e-commerce operations.
For instance, operational software could allow companies to track the processes related to order fulfilment and inventory management. An AI assistant could leverage the information provided by such software and use it to identify abnormalities and take necessary actions.
The announcement is consistent with the overall expansion of Unicommerce’s product capabilities. E-commerce software and AI are still emerging technologies. Its business value will depend on customer adoption, the relevance of suggestions made by the tool, integration with other products and the effectiveness of operational improvements.
New Uniware Modules Gain Traction
The adoption of UniReco and UniCapture, two products linked with claims management and evidence capture, was also highlighted by the company. Over 150 customers were utilising the products in Q2 FY27. Collectively, the modules made a contribution of 2.5% to the Uniware revenue, which stood at about 0.5% last year.
According to Unicommerce, these two new products can contribute up to 10% of Uniware revenue in the next 2-3 years. This is just a prediction of the company and does not guarantee anything in the future. It is one of the ways through which more revenue can be generated from the existing customer base by adding some more features to their operations. With increased adoption of these new products, companies can diversify their revenue base and strengthen their relationship with customers.
First-Half FY27 Financial Performance
In the first six months ending September 30, 2026, Unicommerce recorded consolidated revenues of ₹110.4 crore, which is a 14.7% increase from ₹96.3 crore in the same period the previous year.
Net profits grew by 14.4%, recording ₹11.1 crore from ₹9.7 crore. The adjusted EBITDA recorded for the half-year period was ₹18.1 crore, with an adjusted EBITDA margin of 16.4%.
Operating cash flow for the company amounted to ₹23.9 crore, while the company’s cash position amounted to ₹104.4 crore in September, as opposed to ₹63.4 crore the previous year.
This means that the company has continued to record growth in revenues while maintaining a cash reserve to invest in product development and people expansion. It will be important to see how the company balances its investments in the rest of FY27.
What Is Next for Unicommerce?
Unicommerce has made it clear that it is still on target to register y-o-y growth of more than 15% in Uniware revenues and greater than 20% in Shipway from Q4 FY27 onward.
The company has also projected improvement in consolidated profitability in H2 owing to moderating incremental investments and breakeven in the case of Shipway.
The company is growing in international markets. In its latest update, Unicommerce disclosed that international markets accounted for about 6% of Uniware’s revenues, which stood at about 3% at the time of the initial public offering in August 2024. The company stated that its international business was expanding at a faster pace than the domestic business and was still profitable.
The key areas to watch include enterprise customer adds, AI-led product adoption, breakeven for Shipway, and recovery of margins amid reduced investment spending.