Unicommerce Esolutions Limited (UNIECOM)
₹82.90 -1.18% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Unicommerce Esolutions' revenue was ₹51.6 Cr (+14.0% year on year, -8.5% on the previous quarter), and net profit ₹3.4 Cr (+1.5% year on year); the operating margin was 13.4%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹51.6 | +14.0% | -8.5% |
| Operating profit | ₹6.9 | -15.9% | -36.6% |
| Net profit | ₹3.4 | +1.5% | -54.0% |
| EPS (₹) | 0.29 | -12.1% | -54.0% |
| Operating margin | 13.4% | — | — |
UNIECOM delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 46.17% of the UNIECOM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 46.37%. That is close to its usual level. Volume was 0.2 times its average, well below normal. 2 bulk or block deals were reported in UNIECOM in the last 60 days: ₹6 Cr bought and ₹6 Cr sold.
Delivery in the last 5 sessions: 41.2% · 57.2% · 9.9% · 51.5% · 46.2%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 22 Sep | Sell | Nk Securities Research Private Limited | ₹6.43 Cr | ₹88.10 | 729,465 | Bulk |
| 22 Sep | Buy | Nk Securities Research Private Limited | ₹6.42 Cr | ₹88.06 | 729,465 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Unicommerce published festive season operational data revealing that e-commerce order volumes processed across its Uniware platform increased 31% YoY during the first week of festive sales. The report, covering over 33 million processed order items, showed a 17% YoY increase in GMV alongside a 10% YoY contraction in Average Order Value (AoV). Quick commerce emerged as the fastest-growing segment with an 85% YoY surge in order volume, followed by brand websites (27%) and marketplaces (26%). Tier 3 towns represented 42% of total orders, while Tier 2 and Tier 3 regions together comprised approximately two-thirds of total demand.
- Processed order volumes rose 31% YoY over 33+ million order items in the festive week
- Total Gross Merchandise Value (GMV) grew 17% YoY, while Average Order Value (AoV) declined 10% YoY
- Quick commerce order volumes surged 85% YoY, leading growth across channels
- FMCG order volumes jumped over 190% YoY, followed by Beauty & Personal Care at over 69% YoY
- Tier 3 towns accounted for 42% of orders, with Tier 2 and Tier 3 combined contributing ~66%
Unicommerce eSolutions reported the voting results of its 15th Annual General Meeting held on September 30, 2026. Out of 7 agenda resolutions, shareholders approved key proposals including an amendment to the Memorandum of Association incorporating Artificial Intelligence objects (99.999% approval) and revisions to the ESOP 2019 scheme (96.99% approval). However, Resolution No. 5, which required a special resolution, failed to pass due to lack of the requisite 75% majority, receiving only 73.87% votes in favor.
- Resolution 5 (Special Resolution) failed, securing only 73.87% votes in favor versus 26.13% against
- Special Resolution 6 (AI object clause addition in MoA) passed overwhelmingly with 99.9992% approval
- Special Resolution 7 (ESOP 2019 scheme revisions) passed with 96.9884% approval, despite 99.64% of voting public institutions opposing
- Total voter turnout represented 59.54% of outstanding shares (6.69 Cr votes polled out of 11.24 Cr total shares)
Unicommerce Esolutions announced a partnership with comfort-tech brand The Sleep Company to streamline its e-commerce supply chain operations. The Sleep Company will deploy Unicommerce's Uniware platform for multi-channel order and warehouse management across its website and marketplaces. While the contract value is not disclosed, the win adds to Unicommerce's client base of over 8,000 clients across India, Southeast Asia, and the Middle East.
- The Sleep Company deploys Uniware platform for multi-channel order and warehouse management
- Solution incorporates support for multipart shipments for bulky items and customised finance reporting
- Unicommerce serves a client base of 8,000+ enterprises across India, Southeast Asia, and the Middle East
- Integration leverages Unicommerce's network of 360+ plug-and-play technology and partner integrations
- Commercial deal value and contract tenure are not disclosed
Unicommerce eSolutions has issued a communication under Regulation 30 and 36(1)(b) providing web-links to access its 15th Annual Report and AGM Notice for FY 2025-26. The notification is specifically directed to shareholders whose email addresses are not registered with the company or depositories. The 15th Annual General Meeting is scheduled for September 30, 2026, at 10:30 AM IST via Video Conference / Other Audio-Visual Means. This is a standard compliance filing and has no impact on the company's financials.
- 15th Annual General Meeting scheduled for September 30, 2026, at 10:30 A.M. IST
- AGM to be conducted via Video Conference (VC) / Other Audio-Visual Means (OAVM)
- Letter dispatched providing access web-links for FY 2025-26 Annual Report to unregistered email holders
- Compliance executed under SEBI Listing Regulations Regulation 30 and 36(1)(b)
Unicommerce eSolutions Limited has issued the notice for its 15th Annual General Meeting scheduled for September 30, 2026, via video conferencing. Key resolutions include the adoption of FY26 financial statements, the reappointment of director Kunal Bahl who retires by rotation, and approval of managerial remuneration for MD & CEO Kapil Makhija. The proposed remuneration for Mr. Makhija for the period July 1, 2026 to June 30, 2027 is ₹3.70 crore (comprising ₹3.00 crore fixed pay and up to ₹0.70 crore performance variable pay), compared to ₹3.23 crore drawn in FY26. Remote e-voting is set between September 27 and September 29, 2026, with a cut-off date of September 23, 2026.
- 15th Annual General Meeting to be held on September 30, 2026, at 10:30 A.M. IST via VC/OAVM.
- Proposed total remuneration of ₹3.70 crore for MD & CEO Kapil Makhija for July 1, 2026, to June 30, 2027.
- Remuneration includes a fixed component of ₹3.00 crore and a variable performance component of up to ₹70,00,000.
- Remote e-voting period runs from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM) with a cut-off date of September 23, 2026.
- Re-appointment of director Mr. Kunal Bahl, who retires by rotation and offers himself for re-appointment.
Unicommerce Esolutions Limited announced the resignation of its Company Secretary and Key Managerial Personnel (KMP), Mr. Anil Kumar (Membership no. F8023), effective September 5, 2026, after business hours. The resignation was tendered due to personal reasons and commitments, with no other material reasons confirmed in the filing. The company stated that it is in the process of identifying and appointing a successor.
- Mr. Anil Kumar tendered his resignation as Company Secretary (KMP) on September 5, 2026
- Cessation is effective from the close of business hours on September 5, 2026
- The filing confirms no other material reasons for resignation other than personal reasons and commitments
- Successor appointment process is underway and will be communicated upon finalization
Unicommerce Esolutions Limited announced the resignation of Mr. Anil Kumar from the position of Company Secretary and Key Managerial Personnel (KMP) due to personal reasons. His resignation took effect on September 5, 2026, after the close of business hours. The company confirmed there are no other material reasons for his departure and stated that the process to appoint a successor is underway.
- Resignation of Mr. Anil Kumar (Membership no. F8023) from the role of Company Secretary and KMP
- Cessation effective from September 5, 2026, after the close of business hours
- Departure stated to be solely due to personal reasons and commitments
- Company is in the process of filling the resultant vacancy
Unicommerce Esolutions Limited has scheduled a Non-Deal Roadshow (NDR) in Chennai on September 8, 2026, starting at 10:00 am onwards. Company officials will engage in 1x1 and group meetings with institutional investors. The company confirmed that all discussions will be based on publicly available information and no unpublished price-sensitive information will be shared.
- Non-Deal Roadshow (NDR) scheduled for 8th September 2026.
- Meetings will start from 10:00 am onwards in Chennai.
- Interaction format includes 1x1 and group meetings with investors.
- No unpublished price sensitive information (UPSI) will be discussed.
Unicommerce Esolutions reported Q1 FY27 revenue of ₹51.4 crore, marking a 14.3% YoY increase driven by growth across Uniware (+12.8% YoY) and Shipway (+16.8% YoY). Enterprise customer additions increased 30.7% YoY to 115 clients, adding brands including Amul, Haldiram's, and Mahindra Logistics. Cash balance increased 70% YoY to ₹92 crore, with management ruling out equity fund raises for internal investments and exploratory M&A. Management guided for Uniware revenue growth to exceed 15% and Shipway to achieve 20%+ growth by Q4 FY27.
- Q1 FY27 consolidated revenue grew 14.3% YoY to INR 51.4 crores.
- Enterprise client additions grew 30.7% YoY to 115 new customers compared to 88 in Q1 FY26.
- Uniware and Shipway revenues expanded 12.8% and 16.8% YoY respectively.
- Cash balances expanded 70% YoY to INR 92 crores, fully funding AI-led product and go-to-market investments.
- Quick commerce and B2B modules are now utilized by 40% to 45% of Uniware enterprise customers.
Unicommerce Esolutions has extended its existing partnership with Urban Company to support its operations across the UAE and Saudi Arabia. Urban Company's Middle East arm will deploy Unicommerce's Uniware SaaS platform to manage inventory, supply chain, and fulfillment operations for service consumables across the region. While contract financials are not disclosed, the move aligns with Unicommerce's stated international expansion strategy across the Middle East. Unicommerce currently serves over 8,000 clients with more than 360 integrations globally against a TTM revenue base of ₹187 Cr.
- Partnership extended across 2 key Middle Eastern markets: UAE and Kingdom of Saudi Arabia
- Uniware platform deployed for inventory replenishment, stock accuracy, and fulfillment coordination
- Unicommerce platform network encompasses 360+ plug-and-play integrations and 8,000+ clients globally
- Deal value and specific revenue contribution were not disclosed in the filing
Unicommerce Esolutions has provided the audio recording link for its Q1 FY27 analyst conference call held on August 14, 2026. This follows the disclosure of financial results for the quarter ended June 30, 2026. The company, which reported a TTM revenue of ₹187 Cr and a PAT of ₹23 Cr, uses these calls to discuss its SaaS platform scaling and international expansion. Investors can access the recording to hear management's commentary on the integration of Shipway and the performance of new products like Convertway.
- Conference call conducted on August 14, 2026, at 9:00 a.m. IST
- Recording pertains to the financial performance for the quarter ended June 30, 2026
- Company maintains a TTM revenue of ₹187 Cr with an operating profit margin of 18.9%
- Platform scale context: Items processed on Uniware grew 19.1% YoY to 530.5 million in H1 FY26
Unicommerce Esolutions has announced a transition in its compliance leadership effective August 13, 2026. Mr. Monish Pal has resigned for personal reasons, and Mr. Sourabh Yadav, who has 8 years of experience and was transferred from the parent company AceVector Limited, has been appointed as the new Compliance Officer. Alongside this, the company's auditors highlighted that ₹1.50 million in excess remuneration was paid to Independent Directors in FY26, which now requires shareholder approval for a waiver. The board also approved the audited financial results for the quarter ended June 30, 2026.
- Appointment of Mr. Sourabh Yadav as Compliance Officer with approximately 8 years of secretarial experience
- Resignation of Mr. Monish Pal from the Compliance Officer role effective August 13, 2026
- Disclosure of ₹1.50 million in excess remuneration paid to Independent Directors in FY26 requiring a special resolution waiver
- Board meeting concluded within 45 minutes (4:15 PM to 5:00 PM) on August 13, 2026
- Audited financial results for the quarter ended June 30, 2026, approved by the Board
Unicommerce Esolutions Limited has appointed Mr. Sourabh Yadav as the new Compliance Officer effective August 13, 2026, following the resignation of Mr. Monish Pal for personal reasons. Mr. Yadav, a qualified Company Secretary, is a lateral transfer from the parent company, AceVector Limited, and brings approximately 8 years of experience in corporate governance. This is a routine administrative transition for the company, which currently maintains a market capitalization of Rs 1,140 Cr and TTM revenue of Rs 187 Cr. The change is not expected to impact the company's operational SaaS business or financial trajectory.
- Appointment of Mr. Sourabh Yadav as Compliance Officer effective August 13, 2026.
- Mr. Yadav brings approximately 8 years of experience in secretarial and corporate governance matters.
- Resignation of Mr. Monish Pal (Membership no. ACS - 56941) accepted with immediate effect.
- The company reported TTM revenue of Rs 187 Cr and a PAT of Rs 23 Cr for FY26.
- The new appointee was previously Manager – Legal and Secretarial at the parent company, AceVector Limited.
Unicommerce reported Q1 FY27 revenue of ₹51.4 Cr, up 14.3% YoY, supported by double-digit growth in its Uniware (+12.8%) and Shipway (+16.8%) segments. While PAT grew 20.2% YoY to ₹4.7 Cr, Adjusted EBITDA declined 14.5% to ₹8.1 Cr as the company front-loaded investments into AI-led product development and sales capacity. The company significantly expanded its enterprise footprint by onboarding 115 new clients, including marquee names like Amul and Haldiram's. Management expects profitability to improve in H2 FY27 as these strategic H1 investments begin to yield operational leverage.
- Revenue increased 14.3% YoY to ₹51.4 Cr, representing approximately 27.5% of TTM revenue.
- Onboarded 115 new enterprise customers for Uniware, a 30.7% increase compared to 88 in Q1 FY26.
- Cash and cash equivalents grew 72.1% YoY to reach ₹92.6 Cr, providing a strong liquidity cushion.
- Uniware platform processed 25-30% of all dropship volumes in India during FY25, maintaining high market share.
- Adjusted EBITDA stood at ₹8.1 Cr, reflecting a planned temporary dip from ₹9.5 Cr in Q1 FY26 due to growth investments.
Unicommerce Esolutions reported a 14.3% YoY revenue growth to ₹51.4 Cr for Q1 FY27, supported by steady performance in Uniware (+12.8%) and Shipway (+16.8%). While PAT grew 20.2% to ₹4.7 Cr, Adjusted EBITDA margins compressed to 15.8% from 21.1% in the previous year due to aggressive investments in AI talent and go-to-market strategies. The company significantly strengthened its client base, onboarding 115 enterprise customers (up 30.7% YoY), including marquee brands like Amul and Haldiram's. Management expects these front-loaded investments to conclude in H1 FY27, leading to improved profitability in the second half of the year.
- Revenue grew 14.3% YoY to ₹51.4 Cr, representing approximately 27.5% of TTM revenue.
- Profit After Tax (PAT) increased 20.2% YoY to ₹4.7 Cr.
- Onboarded 115 new enterprise customers during the quarter, a 30.7% increase from 88 in Q1 FY26.
- Cash balance increased by 72.1% YoY to ₹92.6 Cr, providing significant liquidity for inorganic growth.
- Uniware standalone Adjusted EBITDA margin expanded to 35.3% from 32.9% YoY, showing strong operating leverage.
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 75.3% YoY to INR 51.4 Cr in Q2 FY26. Shipway delivered 26% sequential growth with its revenue run rate increasing from INR 70 Cr in Q1 FY26 to over INR 90 Cr in Q2 FY26. Uniware remains the key contributor to profitability.
Geographic Revenue Split
Not disclosed in available documents, though the company notes steady growth in its international business which is diversifying the revenue base.
Profitability Margins
Gross Margin stood at 54.6% in H1 FY26, down from 78.5% in H1 FY25 due to the inclusion of Shipway freight costs. PAT Margin was 10.0% in H1 FY26 compared to 14.1% in H1 FY25, impacted by non-cash amortization of INR 4.35 Cr related to the Shipway acquisition.
EBITDA Margin
Adjusted EBITDA Margin stood at 22.2% in Q2 FY26, up from 21% in Q2 FY25. Adjusted EBITDA grew 85.1% YoY to INR 11.4 Cr, driven by AI-enabled efficiencies and operating leverage.
Capital Expenditure
The company expenses incremental platform enhancements but capitalizes new product development. No specific future INR Cr figure is disclosed, but management stated no further capitalization is planned for current products in the near term.
Credit Rating & Borrowing
Borrowings were reduced from INR 4.54 million in March 2025 to nil by September 2025. Finance costs were INR 5.77 million in FY25, primarily related to Ind AS 116 lease liabilities.
Operational Drivers
Raw Materials
As a SaaS provider, direct costs include Server hosting expenses (2.6% of Q2 FY26 revenue), software services, and support costs. Freight and shipping expenses for the Shipway business totaled INR 14.29 Cr in FY25.
Capacity Expansion
Items processed on the Uniware platform grew 19.1% YoY to 530.5 million in H1 FY26. The company is scaling its platform to support an annualized revenue run rate of over INR 200 Cr.
Raw Material Costs
Server hosting expenses were INR 1.35 Cr in Q2 FY26. Direct costs are managed through AI-enabled operational efficiencies to enhance operating leverage.
Manufacturing Efficiency
Revenue per employee increased 25.8% YoY to INR 4.2 million in H1 FY26, reflecting improved operational efficiency.
Logistics & Distribution
Not disclosed as a separate percentage of revenue, but freight costs are a primary driver of the gross margin shift following the Shipway acquisition.
Strategic Growth
Expected Growth Rate
75.30%
Growth Strategy
Growth will be achieved by reinvesting Shipway profits into sales and brand building, expanding the international footprint, and launching new products like Convertway. The company aims to leverage its 7,500+ client base and scale Uniware as a high-margin profitability engine.
Products & Services
SaaS solutions for e-commerce including multichannel order management, inventory management, shipping automation, and marketing automation.
Brand Portfolio
Uniware, Shipway, Convertway.
New Products/Services
Convertway (marketing automation) and new use cases for existing segments are expected to drive consistent new client additions.
Market Expansion
Expansion into international markets to diversify the revenue base and increase overseas footprint.
Strategic Alliances
Strategic Growth Advisors (Investor Relations Advisors).
External Factors
Industry Trends
The e-commerce SaaS industry is growing rapidly, with a shift toward integrated multi-channel management and automated shipping. UNIECOM is positioned as a comprehensive suite provider (Uniware + Shipway + Convertway) to capture this demand.
Competitive Landscape
Shipway is noted as a relatively new entrant in a large market opportunity, requiring investment in brand building against established competitors.
Competitive Moat
Competitive advantage is derived from strong operating leverage (EBITDA growth of 85.1% outpaced revenue growth of 75.3%) and a large, diversifying client base of 7,500+ businesses which creates high switching costs.
Consumer Behavior
Shift toward multi-channel e-commerce and demand for faster, automated shipping fulfillment is driving platform adoption.
Regulatory & Governance
Industry Regulations
Compliant with Secretarial Standards and Listing Agreements; management states no specific restrictive laws apply to the company's SaaS operations.
Environmental Compliance
Total CSR amount spent for the financial year was INR 22,75,000 (INR 0.2275 Cr).
Taxation Policy Impact
Effective tax rate for Q2 FY26 was approximately 26.8% (INR 2.09 Cr tax on INR 7.79 Cr PBT).
Risk Analysis
Key Uncertainties
Integration risks associated with Shipway and the impact of non-cash amortization charges on reported profitability (INR 4.35 Cr in H1 FY26).
Geographic Concentration Risk
Not disclosed, though international business is cited as a diversification strategy.
Third Party Dependencies
Dependency on server hosting infrastructure for SaaS delivery and freight partners for Shipway's shipping services.
Technology Obsolescence Risk
Mitigated by ongoing investment in AI-enabled operational efficiencies and platform innovation.
Credit & Counterparty Risk
Receivables quality is stable with a trade receivables turnover ratio of 10.01 and DSO of 36.47 days.
