SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Shadowfax Technologies Ltd (SHADOWFAX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544685 NSE: SHADOWFAX Logistics | Small Cap | Shadowfax Tech. Share Price

₹204.25 8.90 (4.56%)

As on 04-Jun'26 16:59

Shadowfax Technologies Ltd (SHADOWFAX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544685 NSE: SHADOWFAX Logistics | Small Cap | Shadowfax Tech. Share Price

₹204.25 8.90 (4.56%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹11,944 Cr.
Current Price
₹204.3
52-Week Low / High
₹99 / 212
TTM EPS
₹2
TTM Sales
₹4,080 Cr.
Book Value per Share
₹30
P/E Ratio
103.69
Industry PE
36.2
Price to Book (P/B)
6.82
Price to Sales (P/S)
2.93
Lower than its 5-year historical median
EV/EBITDA
47.34
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
3.44%
Return on Capital Employed (ROCE)
4.91%
Return on Assets (ROA)
0.62%
Operating Profit Margin
2.5%
Net Profit Margin
0.25%
Gross Profit Margin
2.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
30.9%
Operating Profit Growth (1 Year)
-
232.14%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
16.59%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,166 Cr.
Equity
₹584.8 Cr.
Face Value
₹10
All Time Low / High
₹98.60 / 211.65

Shadowfax Technologies stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Locked
Login to view analysis.

Valuation

Locked
Login to view analysis.

Price Trend

Locked
Login to view analysis.
Q.1 Is Shadowfax Technologies Ltd a good quality company?
Shadowfax Technologies Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Shadowfax Technologies Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Shadowfax Technologies Ltd vs industry peers?
Shadowfax Technologies Ltd revenue CAGR is %, compared to the industry median CAGR of 35.08%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Shadowfax Technologies Ltd?
Promoters hold 16.59% of the Shadowfax Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Shadowfax Technologies Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Shadowfax Technologies Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'23Mar'24Mar'25TTM
ROCE % -52.2%0.8%4.9%-
Value Creation
Index
-4.9-0.9-0.6-

Growth Parameters

Sales 1,4151,8852,4674,080
Sales YoY Gr.-33.2%30.9%-
Adj EPS -12.4-10.42
YoY Gr.-NANA-
BVPS (₹) 7.16.618.630
Adj Net
Profit
-143-11.96.2115
Cash Flow from Ops. -72.613250.1-
Debt/CF from Ops. -0.80.20.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANANA30.9%
Adj EPS NANANANA
BVPSNANANA181.2%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25TTM
Return on
Equity %
-80.9-41.28.1
Op. Profit
Mgn %
-7.612.54.7
Net Profit
Mgn %
-10.1-0.60.32.8
Debt to
Equity
0.70.100
Working Cap
Days
0454858
Cash Conv.
Cycle
0-35-4428

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25
Sales1,4151,8852,467
Operating Expenses + 1,5231,8662,405
Manufacturing Costs294400467
Material Costs000
Employee Cost 214212259
Other Costs 1,0151,2541,679
Operating Profit -1071962
Operating Profit Margin (%) -7.6%1.0%2.5%
Other Income + 81230
Exceptional Items 000
Interest 191421
Depreciation 242864
Profit Before Tax -143-126
Tax 000
Profit After Tax -143-126
PAT Margin (%) -10.1%-0.6%0.3%
Adjusted EPS (₹)-12.3-1.00.4
Dividend Payout Ratio (%)0%0%0%

Valuation of Shadowfax Tech. - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 87328542
Share Capital 5249412
Reserves 8279130
Debt +2660
Long Term Debt2660
Short Term Debt000
Minority Interest000
Trade Payables94145204
Others Liabilities 236307463
Total Liabilities 4437861,209

Fixed Assets

Net Fixed Assets +83117262
Gross Block150204410
Accumulated Depreciation6686148
CWIP 000
Investments 60312374
Inventories000
Trade Receivables157184312
Cash Equivalents 86103184
Others Assets 577077
Total Assets 4437861,209

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25
Cash Flow From Operating Activity + -7313250
PBT -143-126
Adjustment 523984
Changes in Working Capital 2196-55
Tax Paid -3814
Cash Flow From Investing Activity + -40-311-128
Capex -48-53-84
Net Investments 7-260-1
Others 12-43
Cash Flow From Financing Activity + 90200132
Net Proceeds from Shares 142252207
Net Proceeds from Borrowing 0-20-6
Interest Paid -1-7-14
Dividend Paid 000
Others -51-24-55
Net Cash Flow -232053

Financial Ratio

PARTICULARSMar'23Mar'24Mar'25
Ratios
ROE (%)-173.82-14.723.44
ROCE (%)-52.150.754.91
Asset Turnover Ratio3.23.072.47
PAT to CFO Conversion(x)N/AN/A8.33
Working Capital Days
Receivable Days40.503336.70
Inventory Days000
Payable Days000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Shadowfax Technologies Ltd FAQs

The current trading price of Shadowfax Tech. on 04-Jun-2026 16:59 is ₹204.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Shadowfax Tech. stood at ₹11,943.6 Cr

The latest P/E ratio of Shadowfax Tech. as of 03-Jun-2026 is 103.7.

The latest P/B ratio of Shadowfax Tech. as of 03-Jun-2026 is 6.82.

The 52-week high of Shadowfax Tech. is ₹211.7 and the 52-week low is ₹98.60.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shadowfax Tech. is ₹4,080 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shadowfax Technologies Ltd is a below average quality company.

The key valuation ratios of Shadowfax Technologies Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Shadowfax Technologies Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Shadowfax Technologies Ltd

Shadowfax Technologies was originally incorporated as ‘Shadowfax Technologies Private Limited’ at Delhi, India as a private limited company under the Companies Act, 2013 pursuant to a certificate of incorporation dated April 21, 2015, issued by Registrar of Companies, Delhi.

The company is a new-age, technology-led third-party logistics (3PL) company, and leverages technology to facilitate digital commerce. It serves a wide category of enterprise clients including horizontal and non-horizontal e-commerce, quick commerce, food marketplace, and on-demand mobility companies. Its range of services includes express forward parcel deliveries, reverse pickups and hand-in-hand exchange deliveries, prime deliveries, quick commerce and on-demand hyperlocal deliveries, mobility, and other services, including critical logistics enabling it to cater to the most diverse and complex needs of its clients.

One of the key drivers of the next wave of growth for 3PL providers will come from solutions that enhance the end-customer experience. The company is committed to leveraging innovation and efficiency to enhance client experience, which it expects will be driven by three key factors: Velocity, Versatility, and Value. To facilitate the penetration of digital commerce in India and offer its clients the ideal solutions for their end consumers, it relies on its (i) nationwide network infrastructure, (ii) last mile intra-city network of gig-based delivery partners, and (iii) proprietary technology platform, including a sophisticated supply demand allocation engine.

It is direct beneficiaries of India’s expanding digital funnel and shifting demographics that are fueling the growth of the online retail market and convenience led consumption. An increasing number of consumers are turning to online channels not just for shopping but also for services for ordering food, groceries and booking cabs, among others. In comparison to global markets, India continues to show substantial room for growth in online retail. A majority of its revenue from operations is derived from services where it delivers directly to the end-customer. Its platform supports a wide range of time-sensitive and flexible delivery needs of its diverse set of clients like Meesho, Flipkart, Myntra, Swiggy, Bigbasket, Zepto, Nykaa, Blinkit, Kartrocket, Zomato, Uber, Pincode, Purplle, Licious, ONDC, Magicpin, amongst others, making it the only player of scale to service last mile and end-to-end delivery for e-commerce, and last-mile delivery for quick commerce, food delivery and other hyperlocal services.

Business area of the company

The company is in the business of providing platform for logistics services using technology to Business-to-Business customers. It serves a wide category of enterprise clients including horizontal and non-horizontal e-commerce, quick commerce, food marketplace, and on-demand mobility companies.

Services of the company

Express services

  • Forward express parcel delivery: It offers tailored forward express parcel delivery services to suit the requirements of its e-commerce clients.
  • Reverse pickup logistics and Hand-in-Hand exchange: Reverse pickups and hand-in-hand exchange logistics are highly complex operations that demand strict control and quality checks and incur additional costs and due to this, players across business models continue to rely on 3PL partners for such deliveries.
  • Prime Delivery: To meet the increasing demand for faster order fulfilment in the e-commerce segment, it provides same-day delivery and next-day delivery under its prime service, enhancing delivery speed and ensuring customer experience.

Hyperlocal services

  • Quick commerce services: It works with major quick commerce platforms, including Zepto, Big Basket, Blinkit, Flipkart Minutes, and Swiggy.
  • Food and On-Demand delivery: It provides a technologically advanced logistics solution for food and on-demand platforms such as pharma companies, quick service restaurants, and ONDC customers, effectively handling dynamic order loads through customized integrations.
  • Mobility solutions: It is the only 3PL company amongst its peers to offer a two-wheeler fleet to online mobility platforms.

Other logistics services

  • Critical logistics: It enables the movement of critical products, accommodating high-value items such as mobile phones, luxury watches, and time-sensitive critical parts, including MRI spares and crucial construction equipment spares.
  • Strategic insourcing of unbundled services: By leveraging its existing end-to-end logistics network, it has the ability to serve clients requiring unbundled services for a part of the supply chain.
  • Dark store operations: It has expanded into multi-brand, multi-category dark store operations to facilitate time-bound slotted deliveries for platforms and brands, enhancing speed and efficiency in last-mile fulfilment.

Awards, accreditations and recognition

  • 2018: Received the ‘Best Start-Up Enterprising Solutions’ at the 12th Express Logistics & Supply Chain Leadership Awards.
  • 2019: Received the ‘Best Emerging Service Partner H1 2019’ from Excellence Super Star Award by Amazon at the Service Partner Meet.
  • 2019: Received the ‘Excellence in Innovation- Logistic Sector’ at the ET Now Stars of the Industry Award.
  • 2020: Received the ‘Exemplary Emerging Consumer Brand’ from The Economic Times.
  • 2022: Received the ‘Certificate of recognition’ from ASK Private Wealth HURUN India, Future Unicorn Index 2022.
  • 2023: Received the ‘Operational Excellence (Logistics Application) Award’ at the 1st edition of ONDC Elevate Awards.
  • 2024: Received the ‘Best Tech Integrations in D2C’.
  • 2024: Received the ‘Best Technology Team of the Year (E-commerce Logistics)’ from iValue.
  • 2024: Received the ‘Best use of NPS to enhance Customer satisfaction (Logistics)’ at the Quantic, 4th Excellence Awards.
  • 2024: Received the ‘Innovative Applications of AI (Logistics)’ at the 3.0 Technology Excellence Awards.

History and milestones

  • 2015: The company was incorporated in April 2015.
  • 2015: The company acquired the business assets of Pickingo Logixpress Private Limited, pursuant to an asset transfer agreement.
  • 2017: Launched India’s first Doorstep Quality Check (DQC) for e-commerce customers.
  • 2017: The company acquired the business assets of Nuvo Logistics Private Limited, pursuant to an asset transfer agreement.
  • 2018: Launched ‘forward third-party logistics (3PL)’ service for e-commerce and direct-to-customer (D2C) brands.
  • 2020: Started operations of its first automated sorting centre in Gurgaon.
  • 2021: Built a network of 47 middle mile facilities across the country for end-to-end operations.
  • 2022: Entered the quick commerce delivery space.
  • 2022: Launched Shadowfax Flash, its intracity C2C delivery service.
  • 2023: Enabled EV vehicle leasing on its platform for its gig partners.
  • 2023: Launched large / volumetric express parcel category under value added services.
  • 2023: Introduced ‘SF Maps’, an AI-based address intelligence system to enhance delivery accuracy and efficiency.
  • 2024: Achieved Adjusted EBITDA breakeven for the Financial Year 2024.
  • 2024: Achieved pan India expansion to more than 3,300 first and last mile facilities covering more than 2,200 cities.
  • 2024: Expanded same day and next day delivery service to more than 30 cities.
  • 2024: Scaled quick commerce service to 50 cities and hit 300,000 orders per day.
  • 2024: Achieved 2.50 million orders per day during festive season.
  • 2024: Completed 1 billion orders to the end customers since inception.
  • 2024: Emerged as the largest 3PL company for the same day delivery, reverse shipment and quick commerce in terms of order volume as of and for the year ended March 31, 2025 and three months ended June 30, 2025.
  • 2025: Acquired Criticalog India Private Limited, strengthening its capacity to handle high-value and time critical shipments
  • 2025: Achieved Profit After Tax for the Financial Year 2025.
  • 2025: Launched state of the art multi-tier automated sorting center in Bilaspur (Haryana) and Bengaluru (Karnataka).

To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×