IPO-Bound Shiprocket FY26 Loss Widened 7%YoY To ₹79 Cr
Shiprocket's FY26 net consolidated losses widened by 6.5% YoY to ₹79.2 Cr while operating revenue grew 24% to ₹2,024 Cr. The startup is aiming for a valuation of around ₹7,000 Cr in its upcoming IPO.
Intelligence analysis by Llama
Shiprocket's FY26 net consolidated losses widened by 6.5% YoY to ₹79.2 Cr while operating revenue grew 24% to ₹2,024 Cr. The startup is aiming for a valuation of around ₹7,000 Cr in its upcoming IPO. Total expenses rose 23% to ₹2,153.4 Cr, with cost of merchant solutions being the largest line item.
Shiprocket is a logistics company that helps online sellers deliver their products. It's getting ready to go public and wants to raise a lot of money to grow its business. The company made a loss of ₹79 Cr last year, but its revenue grew by 24%.
Analysis
Shiprocket's Financial Performance Ahead of IPO
Shiprocket's FY26 net consolidated losses widened by 6.5% YoY to ₹79.2 Cr while operating revenue grew 24% to ₹2,024 Cr. The startup is aiming for a valuation of around ₹7,000 Cr in its upcoming IPO. Total expenses rose 23% to ₹2,153.4 Cr, with cost of merchant solutions being the largest line item.
The company's EBITDA loss for the fiscal decreased 3% to ₹16.6 Cr from ₹17.2 Cr EBITDA loss in FY25. Shiprocket's total income amounted to ₹2,077.4 Cr, including other income of ₹53.3 Cr. The firm's exceptional items loss was ₹3.3 Cr, and no tax expenses were incurred.
Where Did Shiprocket Spend?
In FY26, Shiprocket's total expenses increased by around 23% to ₹2,153.4 Cr from ₹1,749.3 Cr from the previous fiscal. Here's how the logistics major spent:
Cost of Merchant Solutions: Expenditures on ecosystem partners like cloud infrastructure providers, credit providers, payment gateways, were Shiprocket's largest expense, surging 23% YoY to ₹1,494.1 Cr. Employee Benefits Expense: Shiprocket spent ₹379.5 Cr on employee benefits in FY26, 21% more compared to the previous fiscal year. Purchase of Traded Goods: It spent ₹21.8 Cr on purchasing traded goods in FY26, more than double of its expenses under this head in FY25. Finance Cost: The company's finance costs climbed around 20% YoY to ₹26.4 Cr.
IPO Plans
Shiprocket is aiming for a valuation of around ₹7,000 Cr (about $736 Mn) in its IPO. The offer is set to open for subscription on August 12 and close on August 14. It plans to raise up to ₹885.5 Cr via the fresh issue component of its IPO. Meanwhile, investors will cash in on shares worth up to ₹732 Cr via the offer for sale (OFS) component.
The company intends to use a large chunk of the IPO proceeds, INR 365.6 Cr, to bolster marketing and IT infra for its core and emerging businesses. Besides, a comparatively smaller portion, INR 210 Cr, has been earmarked to repay or prepay certain borrowings availed by the company.
Key points
- Shiprocket's FY26 net consolidated losses widened by 6.5% YoY to ₹79.2 Cr.
- Operating revenue grew 24% to ₹2,024 Cr.
- Total expenses rose 23% to ₹2,153.4 Cr, with cost of merchant solutions being the largest line item.
- Shiprocket is aiming for a valuation of around ₹7,000 Cr in its upcoming IPO.
- The company plans to raise up to ₹885.5 Cr via the fresh issue component of its IPO.
If Shiprocket's IPO is successful, it could lead to more investment in the logistics sector, driving growth and innovation in the industry.
The IPO could also lead to increased competition in the logistics sector, making it harder for Shiprocket to maintain its market share.
