IT Software Products company Unicommerce eSolutions announced Q2FY26 results Revenue grew by 75.3% YoY to Rs 51.4 crore, compared to Rs 29.3 crore in Q2FY25. Adjusted EBITDA rose 85.1% YoY to Rs 11.4 crore, up from Rs 6.2 crore in Q2FY25. Adjusted EBITDA Margin increased by ~118 bps YoY to 22.2%, up from 21.0% in Q2FY25. PAT increased by 29.2% YoY to Rs 5.8 crore, up from Rs 4.5 crore in Q2FY25. PAT (excluding non-cash amortization expenses from the Shipway acquisition) stood at Rs 6.6 crore, up 46.5% from Q2FY25. Kapil Makhija, Managing Director & CEO said: “We continued the strong momentum from Q1FY26 into Q2 with focused execution across revenue growth, profitability, and our key strategic priorities. Our consolidated revenue grew at a healthy pace, taking our annualized revenue run-rate to over Rs 200 crore for the first time, up from approximately Rs 110 crore at the time of listing. This quarter also marked a significant improvement in profitability. For the first time, we crossed an annualized and sustainable Adjusted EBITDA run-rate of Rs 45 crore, driven by cost efficiency, operating leverage, and sustained platform growth. Uniware continued to perform at scale, achieving an annual transaction run-rate of over 1.1 billion order items. The platform saw steady client additions across both traditional brands and digital-first D2C brands across different industries. Our enterprise base crossed 1,000 clients during the quarter. Shipway remained PAT profitable, with annualized revenue run-rate up 26% QoQ to Rs 86.9 crore in Q2FY26 from Rs 68.8 crore in Q1, and nearly 50% higher from Rs 55–60 crore within a year of the acquisition announcement. We continued to invest in meaningful product innovation to enhance value for clients across our platforms. We launched UniCapture, a Video Management System integrated with Uniware, to improve shipment visibility, strengthen dispute resolution, and reduce return-related losses. Shipway introduced ShipSense AI, which optimizes courier allocation to lower logistics costs and improve delivery success. Convertway enhanced its COD-to-prepaid journey, helping clients reduce returns and improve margins. While consumer sentiment was mixed during the quarter due to the Shradh period and anticipation of GST-related pricing changes, demand recovered strongly in the last 10 days of Q2 and remained firm through the festive period in Q3. Looking ahead, our focus remains on disciplined execution, expanding our client base, and continuously strengthening our platforms to drive sustainable and profitable growth.” Anurag Mittal, Chief Financial Officer, said: “We are pleased to report another quarter of consistent growth and improved profitability, building on the strong start to FY26. Our consolidated revenue grew by 75.3% YoY in Q2FY26 and by 69.6% in H1FY26, taking our annualized revenue run-rate over Rs 200 crore for the first time, compared to around Rs 110 crore at the time of our listing. The revenue performance was supported by the sustained scale of Uniware and continued growth momentum in Shipway. Profitability also strengthened, with Adjusted EBITDA, which reflects our operational profitability, growing by 85.1% YoY in Q2 and by 96.4% in H1FY26, leading to an annualized Adjusted EBITDA run-rate of over Rs 45 crore. This reflects enhanced operational efficiency and cost discipline. PAT for the quarter stood at Rs 5.8 crore, up 29.2% YoY, and for H1FY26 at Rs 9.7 crore, up 21.1% YoY. The lower PAT growth compared to Adjusted EBITDA reflects non-cash amortisation expenses of Rs 1.0 crore in Q2 and Rs 4.3 crore in H1, related to intangible assets from the Shipway acquisition. Excluding this impact, PAT stood at Rs 6.6 crore for the quarter, up 46.5% YoY, and Rs 12.9 crore for H1FY26, up 61.9% YoY on a comparable basis. Cash Flow from Operations also grew 84.2%, from Rs 16.1 crore in H1FY25 to Rs 29.7 crore in H1FY26. Cash and Bank Balance also increased from Rs 35.3 crore in March 2025 to Rs 63.4 crore in September 2025, growing 79.5% over six months. Going forward, Shipway will continue to drive growth, while Uniware will remain the key contributor to profitability, supported by strong operating leverage. We will stay focused on financial discipline and sustainable expansion, deepening relationships with existing clients, adding new ones, and investing in platform innovation to drive further growth.” Result PDF