Unicommerce eSolutions Limited has reported strong financial performance for Q3 FY26, demonstrating robust growth across its key business segments. The company's consolidated revenue reached ₹56.4 crores, representing a significant 72.2% year-on-year growth, while adjusted EBITDA grew 51% to ₹13.4 crores during the quarter ended December 31, 2025.

Financial Performance Highlights

The company's financial metrics showcase strong operational leverage and growth momentum across multiple parameters:

For the nine-month period, consolidated revenue grew 70.6% year-on-year to ₹152.7 crores compared to ₹89.5 crores in the previous year. Adjusted EBITDA increased 75.8% to ₹34.3 crores, surpassing the full year FY25 adjusted EBITDA of ₹28.4 crores in just nine months.

AI Integration and Product Innovation

Unicommerce has made significant strides in artificial intelligence integration, launching three core AI capabilities over the past two quarters. The company introduced Catalyst AI Voice Agent for ConvertWay, which enables automated human-like outbound calls in multiple languages to engage customers who abandon transactions at checkout. UniBot AI Assistant for Uniware acts as an e-commerce operations copilot, allowing clients to execute warehouse actions through simple, multilingual text prompts.

ShipSense AI Courier Allocation optimizes courier selection by balancing costs, delivery timelines, and probability of pre-delivery returns. These AI initiatives strengthen product differentiation while expanding monetization opportunities across platforms.

Platform-Specific Performance

Uniware resumed growth momentum in Q3 FY26, delivering 8.1% year-on-year revenue growth on a standalone basis despite losing one top 10 client who discontinued multichannel operations. The platform added more than 110 enterprise clients during the quarter, including Action Tesa, Lehar Footwear, Interio by Godrej, Shein Marketplace, and Undermeat.

Shipway continues to scale steadily post-acquisition, achieving an annualized revenue run rate of approximately ₹100 crores in Q3 FY26, compared to ₹71 crores in Q1 FY25. The platform launched a new mobile application for operational workflows and Shipway Cargo for bulky B2B shipments during the quarter.

Strategic Initiatives and Leadership

The company has appointed Gaurav Juneja as Chief Revenue Officer to strengthen business development, marketing, and customer success functions. Juneja brings extensive experience from roles including Chief Revenue Officer at Kapture, Head of Digitization at Google India, and founding the StarQuik business under Tata Group.

Management plans calibrated investments in AI, product technology, and sales and marketing capacity for Shipway and ConvertWay platforms. While these investments may result in slightly below breakeven adjusted EBITDA for Shipway Technology Private Limited in the short term, they are expected to support faster platform scaling and long-term value creation.

Market Position and Outlook

Unicommerce processes approximately 25% to 30% of India's e-commerce dropship volumes, effectively serving as an index to the e-commerce market. The company's revenue concentration from top 10 clients has consistently declined from 27% in FY24 to 12% in Q3 FY26, reflecting successful diversification efforts.

Management expects double-digit growth for Uniware from Q4 FY26 onwards, driven by enterprise acquisitions and structured revenue expansion programs. The company addresses a total addressable market opportunity of over USD 1 billion across Uniware, Shipway, and ConvertWay platforms, with particularly strong opportunities in courier aggregation through Shipway.

Unicommerce eSolutions Limited announced a strategic integration between its shipping platform Shipway and ElasticRun to enhance same-day and next-day delivery capabilities for e-commerce and D2C brands. The partnership aims to address rising consumer expectations for faster deliveries across metropolitan and tier-1 cities.

Strategic Partnership Details

The integration combines Shipway's logistics technology with ElasticRun's locally operated delivery network, enabling brands to offer faster last-mile deliveries without establishing their own hyperlocal infrastructure. This collaboration addresses the growing demand for rapid fulfilment that has expanded beyond quick-commerce to encompass broader retail categories.

Market Response to Delivery Speed Demands

Same-day and next-day fulfilment requirements have evolved from select quick-commerce use cases to broader applications across brand websites, marketplaces, and hybrid retail models. Delivery timelines for everyday categories including FMCG, personal care, and fashion are increasingly influencing purchase decisions and overall customer experience.

Brands using Shipway's platform can now access real-time tracking, issue management, and performance insights while reducing logistics costs through smart routing capabilities. The integration particularly benefits businesses operating through warehouses, dark stores, and local hubs.

Leadership Perspectives

Sandeep Deshmukh, Co-Founder & CEO of ElasticRun, emphasized their technology-first approach: "At ElasticRun, we operate as a technology-first, speed-led fulfilment partner, using AI-driven intelligence to enable faster, more reliable same-day and next-day deliveries at scale. Our integrated platform leverages AI for smarter inventory placement, routing, and last-mile execution across the country."

Kapil Makhija, MD & CEO of Unicommerce, highlighted market trends: "As everyday-use categories such as FMCG, personal care, fashion, and essentials become a growing part of India's retail and e-commerce market, consumer expectations around faster deliveries are increasing. With ElasticRun's hyperlocal network integrated with Shipway, brands are better placed to meet these needs."

Company Profile and Market Position

Unicommerce serves over 7,500 clients across India, Southeast Asia, and the Middle East, including notable brands such as FabIndia, Lenskart, Timex, TCNS, Mamaearth, Emami, Urban Company, Healthkart, boAt, TMRW, Mensa, and Landmark Group. The company offers a comprehensive suite of SaaS products including:

• Uniware: Inventory management and multi-channel order processing
• Shipway: Courier aggregation and shipping automation
• Convertway: AI-enabled marketing automation platform

Founded in 2012, the company maintains ISO 27001 and ISO 27701 certifications for information security and data privacy standards and is listed on the National Stock Exchange of India Limited and BSE Limited.