UNIECOM
Unicommerce share price & financials
- Price
- ₹89.69
- Market cap
- ₹983 Cr
- Sector
- Information Technology
- Calls analysed
- 6
Unicommerce Q1 FY27
What went well
- Revenue grew 14.3% YoY to INR51.4 crores in Q1 FY27, supported by continued double-digit growth across Uniware and Shipway.
- Uniware's standalone adjusted EBITDA increased to INR11 crores in Q1 FY27 from INR9.1 crores in Q1 FY26, despite continued investment.
- Cash and bank balances increased significantly by 72.1% YoY to INR92.6 crores at the end of Q1 FY27.
What to watch
- Adjusted EBITDA for the quarter decreased by 14.5% YoY to INR8.1 crores due to planned growth investments front-loaded in H1 FY27.
- Shipway's sales have been stagnant around INR20 crores for the past 4-5 quarters, though management expects ramp-up with investments.
What Unicommerce does
Unicommerce eSolutions is a multi-platform e-commerce enablement SaaS company that helps brands, retailers and D2C sellers run their online operations. Uniware is its order and warehouse management system used across the transaction-processing layer (order routing, inventory sync, multi-channel selling); Shipway automates shipping, tracking, returns and courier allocation after a sale; Convertway is an AI-enabled marketing-automation tool that drives pre-purchase conversion via WhatsApp, SMS and RCS. The company earns SaaS subscription/usage income and shipping service income by integrating with marketplaces, web-stores, couriers, ERPs and POS systems on its clients' behalf.
Segments
- Uniware
- Shipway
- Convertway
- Annual order items processed (run-rate)
- 1 billion+
- Warehouse & store facilities managed on platform
- 12,330+
- Total client base (D2C & traditional brands)
- 8,000+
- Enterprise clients
- 1,126 (FY26)
- Marketplace & web-store integrations
- 145
- Courier partner integrations
- 122
Guidance record · Q1 FY27
what the last two calls moved 16 tracked 6 delivered 2 missed 8 open- Product Launch delivered said Q4 FY25 Promised: commercial launch by the end of quarter 1 FY '26 Q1 FY27: UniReco attach rate reported at 7% among new customers. Promise remains achieved and is showing good post-launch traction.
- Adjusted EBITDA missed said Q4 FY25 Promised: Operate at breakeven Q1 FY27: Management confirms Shipway is not yet at breakeven, reiterating the miss. New guidance issued for breakeven in Q3 FY27.
- Uniware standalone business growth on track said Q4 FY26 Promised: deliver double-digit growth trajectory for the stand-alone business in FY27 Q1 FY27: Uniware grew 12.8% YoY in Q1 FY27, meeting the double-digit growth target. Underlying growth was >15%.
All 16 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 14.3%, net profit up 20.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29 | 33 | 45 | 45 | 51 +75% | 56 +72% | 52 +14% | 51 +14% |
| EBITDA | 6 | 8 | 8 | 8 | 9 +60% | 11 +31% | 7 −16% | 5 −35% |
| Net profit | 4 | 6 | 3 | 4 | 6 +29% | 7 +17% | 3 +1% | 5 +20% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −44.6% 1Y
1Y: ₹150.3 on 10 Sept 2025 → ₹83.33. High ₹150.3 (10 Sept 2025), low ₹79.08 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.8%
- 14 Aug
- Q4 FY26
- −9.2%
- 28 Apr
- Q3 FY26
- −2.1%
- 16 Feb
- Q2 FY26
- +6.4%
- 12 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 40.5% a year over 2 years, FY24 to FY26. Operating margin widened to 17.3%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹104 Cr | ₹135 Cr | ₹204 Cr |
| Operating profit | ₹14 Cr | ₹26 Cr | ₹35 Cr |
| Operating margin | 13.9% | 19.7% | 17.3% |
| Interest | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹2 Cr | ₹7 Cr | ₹10 Cr |
| Net profit | ₹13 Cr | ₹18 Cr | ₹20 Cr |
| Net margin | 12.7% | 13.1% | 10.0% |
| ROCE | — | 31.0% | 21.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity capital | ₹6 Cr | ₹11 Cr | ₹11 Cr |
| Reserves | ₹63 Cr | ₹166 Cr | ₹182 Cr |
| Borrowings | ₹8 Cr | ₹10 Cr | ₹9 Cr |
| Other liabilities | ₹33 Cr | ₹65 Cr | ₹68 Cr |
| Total liabilities | ₹109 Cr | ₹253 Cr | ₹271 Cr |
| Fixed assets | ₹8 Cr | ₹168 Cr | ₹164 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹6 Cr | ₹24 Cr | ₹31 Cr |
| Other assets | ₹95 Cr | ₹61 Cr | ₹75 Cr |
| Total assets | ₹109 Cr | ₹253 Cr | ₹271 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +7.07 pp while DIIs trimmed −3.74 pp. The shareholder count shrank 10% to 97,663.
- Promoters
- 36.0%
- FIIs
- 0.0%
- DIIs
- 2.4%
- Public
- 61.6%
Since Jun 2025
- Public +7.07 pp
- DIIs −3.74 pp
- Promoters −3.18 pp
How it drifted, 8 quarters
Over this window the public went from 48.0% to 61.6% — +13.6 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 39.4%, FIIs 2.3%, DIIs 10.3%, Public 48.0%.Dec '24: Promoters 39.4%, FIIs 0.3%, DIIs 8.1%, Public 52.2%.Mar '25: Promoters 39.2%, FIIs 0.4%, DIIs 7.5%, Public 52.9%.Jun '25: Promoters 39.2%, FIIs 0.1%, DIIs 6.1%, Public 54.5%.Sep '25: Promoters 36.3%, FIIs 0.3%, DIIs 5.7%, Public 57.7%.Dec '25: Promoters 36.0%, FIIs 0.0%, DIIs 5.5%, Public 58.5%.Mar '26: Promoters 36.0%, FIIs 0.1%, DIIs 3.8%, Public 60.0%.Jun '26: Promoters 36.0%, FIIs 0.0%, DIIs 2.4%, Public 61.6%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Unicommerce above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Acevector Limited | 25.90% | unchanged |
| Sb Investment Holdings Uk Limited | 14.39% | unchanged |
| B2 Capital Partners (Kunal Bahl & Rohit Kumar Bansal holding on behalf of B2 Capital partners | 9.80% | unchanged |
| Dilip Ramachandran Vellodi | 3.04% | unchanged |
| Gaurav Gupta | 2.59% | unchanged |
| Vikas Garg | 2.58% | unchanged |
| Madhuri Madhusudan Kela | 1.48% | unchanged |
| Ajay Kumar Aggarwal - 2 | 1.22% | unchanged |
| Nippon Life India Trustee Ltd- A/C Nippon India Aggressive Hybrid Fund Mutual fund | 1.15% | unchanged |
| Bharat Venishetti (Nominee Shareholder of AceVector Limited) | 0.23% | unchanged |
| Rohit Kumar Bansal | 0.04% | unchanged |
| Kunal Bahl | 0.04% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in UNIECOM
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹18 Cr
- 2 schemes
- Biggest holder
- Nippon India Aggressive Hybrid Fund
- ₹12 Cr · 0.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Aggressive Hybrid Fund Nippon India Mutual Fund | ₹12 Cr | held | Aug '24 |
| HDFC Technology Fund HDFC Mutual Fund | ₹6 Cr | held | Aug '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- -59%
- vs est. average cost
- Held by funds
- ₹18 Cr
- 2 schemes · ≈ 1.8% of the company
- Biggest holder
- Nippon India Aggressive Hybrid Fund
- ₹12 Cr · 0.3% of that fund
Shares held by these funds −50%
Aug '24 20.09 L shares Jul '26
What the price assumes
ExpensiveTo justify its price of ₹83, this stock must grow earnings at 29% every year for 7 years. Our analysis caps realistic growth at ~25%. At that growth it is worth ₹67 — downside of 20%.
- Growth the price implies
- 29.3% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 24.8% a year
- net profit, FY24–FY26
- The gap
- 0.0 pp
- -20% downside if it only repeats history
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Unicommerce
Guides on how to read this kind of business and the numbers that matter.