Unicommerce Esolutions Limited has informed the Exchange about Investor Presentation
27th April, 2026
National Stock Exchange of India Ltd. Exchange Plaza, C – 1, Block G Bandra-Kurla Complex, Bandra (E), Mumbai-400 051 Symbol: UNIECOM
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Scrip Code: 544227
Subject: Update under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’)
Reference: Annual Audited (Standalone & Consolidated) Financial Results for the quarter and financial year ended on 31st March, 2026
Dear Sir/Madam,
Greetings from Unicommerce eSolutions Limited.
Pursuant to Regulation 30 of SEBI Listing Regulations, as amended from time to time, andin continuation to our earlier communication sent on 20th April, 2026, we are enclosing Consolidated) and the Investor Presentation for the Annual Financial Results for the quarter and financial year ended on 31st March, 2026.
Audited (Standalone
The same is available on the website of the Company at https://unicommerce.com/
Please take the aforesaid document on record and oblige.
Thanking you, For Unicommerce eSolutions Limited
_________________ Anil Kumar Company Secretary Membership No. F8023
Encl.: as above
Unicommerce eSolutions Ltd. Registered Office: Mezzanine Floor, A-83, Okhla Industrial Area Phase-II, New Delhi 110020 India Corporate Office: M3M Urbana Business Park, Tower B, 9th Floor, Sector 67, Gurugram 122001, Haryana, India Tel +91-888 7790 22, email: contactus@unicommerce.com I Web: www.unicommerce.com CIN: L74140DL2012PLC230932
AI-First eCommerce Enablement Investor Presentation – FY26 & Q4 FY26
One Stop for All eCommerce Automation Needs
From Click
To Delivery
Increase Sales
Streamline Operations
Reduce Costs
Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Unicommerce eSolutions Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance. The statements in this Presentation are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks.
The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. The information contained in this presentation is subject to change without any obligation on the Company to notify any person of such revisions or change. Past performance is not indicative of future results. This Presentation shall not be deemed as tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person.
Orchestrating India’s eCommerce Operations at Scale Using AI
Table of Contents
01 Executive Summary
02 FY26 at a Glance
03 FY 27 & Beyond
04 Q4 and FY26 Financial
Results Summary
05 Appendix
Note: (1) “Unicommerce processes a significant share of eCommerce orders across retailers and brands, handling approximately 25-30% of all dropship volumes through its Uniware platform in FY25,” as per 1Lattice Report -”B2C and SaaS e-commerce opportunities in India”, Nov 2025
3
Processed 25-30% of all dropship volumes in India in FY25 (1)
FY26: Delivered Rule of 401 With Strong Growth, Profitability, Cash Generation
FY26 Financial Performance2
Q4 FY26 Financial Performance2
Revenue
Adjusted EBITDA 3
Cash Flow From Ops
PAT ^
51.6% YoY ₹204.3 Cr
54.5% YoY ₹43.9 Cr
68.1% YoY ₹47.0 Cr
16.1% YoY ₹20.5 Cr
Revenue
14.0% YoY ₹51.6 Cr
Adjusted EBITDA 3,#
Cash Flow From Ops
PAT ^,#
7.8% YoY ₹9.6 Cr
51.6% YoY ₹12.4 Cr
1.6% YoY ₹3.4 Cr
Note: ^PAT growth is lower compared to Adjusted EBITDA growth primarily due to the impact of non-cash amortisation expenses related to the acquisition of Shipway Technology Private Limited. Amortisation relates to intangible assets recognised as part of the acquisition accounting; #Q4 FY26 Adjusted EBITDA and PAT reflect the impact of growth investments undertaken during the quarter in Shipway (1) The rule of 40 is an industry accepted standard which is used to assess the growth and profitability of SaaS companies. It says that the sum of the revenue growth over a year and profitability (Adjusted EBITDA as a percentage of revenue) must be at least 40%. The rule of 40 was met for FY26. (2) Consolidated financials includes subsidiary (Shipway Technology Pvt. Ltd.) financials; YoY compares FY26 with FY25; (3) Adjusted EBITDA has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the PAT
4
Established the Foundation for an AI-first, Multi-Platform Business in FY26
Business Evolution
First full year as a multi-platform eCommerce enablement SaaS company
AI
AI-first solutions across demand generation, operations, and logistics, enhancing outcomes for clients
Shipway: Growing in a large market with low penetration; Uniware: Sustained profitability profile with growth improvement in H2
Operational Momentum
Uniware returned to double-digit growth, up 11.7% YoY in Q4 FY26, driven by growth initiatives
Shipway grew 17.7% YoY in Q4 FY26 with continued go-to-market momentum
450+ enterprise clients onboarded to Uniware in FY26, highest to date
Marquee customer acquired across categories, including, Onida, Kenstar, Action Tesa, Nayasa, Ajanta Shoes, Lehar Footwear, Himalaya Wellness, Rupa, Lacoste, SuperYou, Trunativ, Vedantu, and Allen
Continued cross-sell momentum with increasing adoption of new products
Targeted investments initiated in Shipway in Q4 FY26 to support long-term growth
5
5x Revenue Growth in Five Years; Now Building for Similar Growth Ahead
Journey to FY26
FY 27 & Beyond
Scaled 5x with sustained profitability, establishing a multi-platform foundation
Leverage the foundation to drive multiple revenue streams with disciplined profitability
5x Revenue Growth in 5 Years
204.3
Amounts in ₹ Cr
FY26 Adj. EBITDA larger than FY 21 Revenue
AI
AI-first Product Innovation
Organic Growth Initiatives
5x
40.0
43.9
Selective Inorganic Expansion
Cost Discipline and Operating Leverage
Revenue FY21
Revenue FY26
Adj. EBITDA1 FY26
Calibrated FY27 investments to build AI capabilities, expand sales & marketing capacity and strengthen senior talent for future growth
Note: (1) Adjusted EBITDA has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the PAT
6
Kapil Makhija: Building for the Next Phase of Growth in an Evolving eCommerce and AI Landscape
FY26 marked a defining year for Unicommerce, reflecting both how eCommerce has changed and how we have evolved with it. Over the last five years, eCommerce has become far more complex. Brands now operate across marketplaces, quick commerce, brand websites, and B2B channels, while managing larger inventories and faster delivery expectations. Our platforms sit at the center of this complexity, acting as the operating system that helps businesses run at scale.
Over the five-year period, we have grown our revenue 5x. Importantly, our FY26 Adjusted EBITDA exceeded our revenues in FY21, highlighting the scale, discipline, and operating leverage we have built. We believe this creates a strong base to drive a similar growth trajectory going forward.
During FY26, we completed our evolution into a multi-platform eCommerce enablement SaaS company, with Uniware, Shipway, and Convertway spanning transaction processing, logistics, and customer engagement. This creates advantages that fragmented solutions cannot easily match.
We are excited about the next shift underway: AI. As the system of record for our customers’ operations, we capture granular data across the commerce lifecycle. This enables us to use AI for smarter decision-making. UniBot AI for warehouse operations, ShipSense AI for logistics allocation, and Catalyst Voice Bot AI for customer engagement are already live examples delivering outcomes. We see AI as a key driver of the next chapter of growth for Unicommerce.
Kapil Makhija MD & CEO
We had a strong execution during the year and onboarded over 450 enterprise clients on Uniware, the highest in our history, with a mix of traditional enterprises and digital-first brands. Our newer modules are gaining traction, with 35–40% of enterprise clients now using B2B and quick commerce capabilities. Our international business turned profitable and continues to outpace the domestic segment. Uniware returned to double-digit growth in Q4 FY26, and Shipway achieved profitability within two quarters of acquisition and continues to scale.
Looking ahead, we aim to replicate the growth of the last five years. We anchor our approach on four priorities, expanding our product portfolio with AI-first innovation to deepen use cases and open new revenue streams; driving growth across all platforms; evaluating selective inorganic opportunities aligned with our platform strategy; and maintaining financial discipline while we invest in growth.
Starting Q4 FY26, we have started investments in sales & marketing, AI-first product development, and senior capacity to strengthen our go-to-market execution. As eCommerce grows more complex, our role becomes more integral, positioning us well to capture the opportunities ahead.
7
Anurag Mittal: Focus on Revenue Growth With Profitability & Cash Generation
“We are pleased to report strong financial performance for FY26 and Q4 FY26, with growth across revenue, profitability, and cash generation.
Revenue for FY26 stood at ₹204.3 Cr, compared to ₹134.8 Cr in FY25, reflecting YoY growth of 51.6%. Adjusted EBITDA increased to ₹43.9 Cr from ₹28.4 Cr, a growth of 54.5%, driven by operating leverage, particularly within the Uniware business. We achieved the Rule of 40 in FY26, with revenue growth and Adjusted EBITDA margin together exceeding 40%, reflecting balanced growth and profitability.
The business continues to generate strong cash flows, with cash flow from operations of ₹47.0 Cr during FY26, compared to ₹28.0 Cr in FY25. Cash and bank balances rose to ₹81.3 Cr as of March 31, 2026, returning to levels similar to those prior to the Shipway acquisition.
Profit after tax stood at ₹20.5 Cr, compared to ₹17.6 Cr in FY25, a growth of 16.1%. The narrower PAT expansion relative to Adjusted EBITDA reflects non-cash amortisation of intangible assets from the Shipway acquisition. EPS increased from ₹1.58 to ₹1.78.
For Q4 FY26, revenue stood at ₹51.6 Cr, reflecting YoY growth of 14.0%. The sequential moderation from
Anurag Mittal CFO
Q3 reflects the inherent seasonality of Indian eCommerce. Q3 is the peak demand quarter, driven by extended festive activity including Diwali and Christmas. Q4, in contrast, is characterised by shorter, event-driven spikes such as end-of-season and Republic Day sales, which are largely discount-led and inventory-clearance in nature. Volumes therefore normalise in Q4.
Adjusted EBITDA for the quarter was ₹9.6 Cr, up 7.8% YoY, and PAT stood at ₹3.4 Cr, up 1.6%. The moderate growth in profitability reflects planned investments initiated for Shipway during the quarter, including strengthening sales and marketing, adding AI-focused product and engineering talent, and onboarding experienced mid-senior team members to build execution capacity for the scale ahead.
Looking ahead, our focus remains on scaling all three platforms while continuing to invest in product, sales & marketing, AI, and go-to-market capabilities. As we make investments to support our long-term growth, we will continue to maintain a disciplined approach to cost management.
8
Orchestrating India’s eCommerce Operations at Scale Using AI
Table of Contents
01
02
03
04
Executive Summary
FY26 at a Glance
FY 27 & Beyond
Q4 and FY26 Financial Results Summary
05
Appendix
Note: (1) Unicommerce processes a significant share of eCommerce orders across retailers and brands, handling approximately 25-30% of all dropship volumes through its Uniware platform in FY25, As per 1Lattice Report -”B2C and SaaS e-commerce opportunities in India”, Nov 2025
9
Processed 25-30% of all dropship volumes in India in FY25 (1)
Scaled 5x With Sustained Profitability in the Past Five Years, Establishing an AI-first, Multi-platform Foundation
Journey to FY26
FY26 at a Glance
5x Revenue Growth in 5 Years
204.3
Amounts in ₹ Cr
FY26 Adj. EBITDA larger than FY 21 Revenue
1. Transitioned to a multi-platform, expanding addressable market
5x
40.0
43.9
AI
2. Embedded AI across products and go-to-market strategy to enhance capabilities and efficiency
3. Strong growth in acquisitions, scale and product adoption; International business turned profitable
4. Scaled to 8,000+ client businesses across D2C and traditional brands
Revenue FY21
Revenue FY26
Adj. EBITDA1 FY26
5. Delivered consistent revenue growth and profitability
Note: (1) Adjusted EBITDA has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the PAT
10
Transitioned to a Full-Stack eCommerce Enablement Platform 1.
First full year as a multi-platform company, expanding capabilities across the eCommerce value chain
Capturing Value Across the eCommerce Journey
Pre-purchase
Order Processing
Shipping & Post-delivery
Marketing Automation
Operations Automation
Logistics Automation
Client Success Story
Fashion Brand
+
+
Used our 3 platforms across their entire purchase process
Multi-dimensional growth, retention and increased LTV
Revenue Growth
4.2X
2.5X
1X
For complete details of our platforms capabilities, refer to appendix.
Year 1
Year 2
Year 3
11
2. Embedded AI Across Products to Enhance Capabilities and Customer Value 2.
AI Embedded Across Platforms
Featuring
Catalyst AI
Featuring
UniBot AI
Featuring
ShipSense AI
AI voice agent to drive conversion for brands websites
AI assistant for managing eCommerce operations
AI-driven courier allocation to optimise cost and delivery outcomes
Click to Play Demo
Click to Play Demo
Click to Play Demo
12
AI Applied Across Go-to-market For Better Targeting, Onboarding and Ops 2.
AI Embedded Across Our Go-to-market Strategy
AI
AI
AI
AI
AI
Marketing
Sales
Onboarding
Support
Technology
Marketing Intelligence Agent
Solution Advisory Agent
Adoption Acceleration Agent
Service Resolution Agent
Engineering Productivity Agent
● Lead identification and
● Pre-meeting research
● Account setup and data
● Issue detection and
segmentation ● Content generation ● Campaign management
and preparation
preparation
● Technical assessment and solution creation
● Activation tracking ● Training effectiveness
analysis
classification ● Response drafting ● Quality monitoring
● PRD and code writing ● Rapid prototyping ● UI/UX design ● Code review support
13
3. Strong Momentum Across Acquisitions, Adoption and Usage Expansion 3.
Uniware Enterprise Acquisitions
New Product Adoption
Shipway & Convertway Growth
FY26 and Q4 represent the highest annual and quarterly enterprise onboarding to date
Continued increase in adoption and usage across new products
Steady YoY growth in a large addressable market
% of Enterprise Clients
Annualised Revenue Run-rate1 (₹ Cr)
149 in Q4
465
397
40-45%
B2B & Quick Commerce
348
336
253
5-6%
1-2%1-2%
17.7%
83.9
71.2
FY22
FY23
FY24
FY25
FY26
Q4 FY25
Q4 FY26
Note: (1) Defined as revenue for Shipway Technology Private Limited in the most recent quarter of the respective periods multiplied by 4
14
4. 450+ Enterprise Clients Onboarded in FY26, Highest Addition to Date 4.
Trusted by 8,000+ Leading D2C and Traditional Brands
Apparel
Electronics
Home
FMCG
Personal Care
Footwear
Education
Marketplaces
Note: Logos are the property of their respective owners and are used for representation purposes only
5. Five Years of Consistent Growth Across Revenue, Profitability and Cash 5.
Rule of 40 maintained over 5 years with profitability improving ahead of revenue
Revenue (₹ Cr)
Adj. EBITDA1 (₹ Cr)
Cash Flow From Ops (₹ Cr)
Profit After Tax (₹ Cr)
Earnings Per Share2 (₹ Cr)
5.1x
204.3
7.7x
43.9
4.7x
47.0
4.6x
20.5
4.5x
1.8
40.0
5.7
10.0
4.5
0.4
FY21
FY26
FY21
FY26
FY21
FY26
FY21
FY26
FY21
FY26
Note: Consolidated financials includes subsidiary (Shipway Technology Pvt. Ltd.) financials; (1) Adjusted EBITDA has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the PAT (2) EPS for FY 21 has been calculated on the basis of share count post-split and bonus issue
16
Orchestrating India’s eCommerce Operations at Scale Using AI
Table of Contents
01
02
03
04
Executive Summary
FY26 at a Glance
FY 27 & Beyond
Q4 and FY26 Financial Results Summary
05
Appendix
Note: (1) Unicommerce processes a significant share of eCommerce orders across retailers and brands, handling approximately 25-30% of all dropship volumes through its Uniware platform in FY25, As per 1Lattice Report -”B2C and SaaS e-commerce opportunities in India”, Nov 2025
17
Processed 25-30% of all dropship volumes in India in FY25 (1)
FY 27 & Beyond
AI-first Innovation to Drive New Revenue Streams, Alongside Organic and Inorganic Expansion
Building For The Next Phase of Growth
Our Strategy for the Next Phase
3.
AI
Inorganic Expansion
Adjacent Market Opportunities with AI Relevance Evaluation
AI
2.
Organic Growth Initiatives
AI
1.
AI-first Product Innovation
New Products
New Use Cases
Strin
g e
nt C st M
o
a n a g e m e
4.
p
nt & O eratin g L e v era g e
AI at the Core of Our Products and Operations
18
Path to the Next Phase of Growth Through Layered Growth Drivers
Client Value Proposition Shaping Our Strategy
Sell More. Fulfil Better. Be Efficient.
1. AI-first Product Innovation
2. Organic Growth Initiatives
AI
Drive Value for Clients
AI
Win More Clients & Grow Together
● Develop AI-first products and expand
● Increase revenue from existing
use cases across platforms to increase monetisation
customers through higher usage and scale enablement
● Improve retention through deeper
● Acquire new customers through
integration and ease of use
platform depth, cross-sell, and market expansion
3.
AI
Selective Inorganic Expansion
Expand Strategically
● Evaluate M&A opportunities adjacent to our business, with clear strategic fit and AI relevance
● Focus on disciplined valuations and
integration synergies
● Prioritise opportunities with profitability
or a clear path to profitability
4.
Cost Discipline and Operating Leverage
● Maintain cost discipline with calibrated
investments to support long-term growth
● Drive operating leverage and sustain healthy profitability
19
Calibrated Investments in FY27 to Support Future Growth
Key Investment Areas
Investing to enhance our platform and drive new product adoption
Investing to drive scale in a large addressable market with low penetration for Shipway
AI
AI
AI Product & Engineering
Sales & Marketing
Senior Talent
Software & AI Tools
Build AI capabilities through focused hiring
Scale capacity; Established dedicated team for high-value clients
Strengthen execution depth
Embed AI across product and go-to-market strategy
Investments initiated from Q4 FY26 to drive future growth and deepen product capabilities
20
Orchestrating India’s eCommerce Operations at Scale Using AI
Table of Contents
01
02
03
04
Executive Summary
FY26 at a Glance
FY 27 & Beyond
Q4 and FY26 Financial Results Summary
05
Appendix
Note: (1) Unicommerce processes a significant share of eCommerce orders across retailers and brands, handling approximately 25-30% of all dropship volumes through its Uniware platform in FY25, As per 1Lattice Report -”B2C and SaaS e-commerce opportunities in India”, Nov 2025
21
Processed 25-30% of all dropship volumes in India in FY25 (1)
FY26: 51.6% YoY Revenue Growth and 54.5% YoY Adjusted EBITDA Growth
Revenue (₹ Cr)
Adjusted EBITDA (₹ Cr)1
Profit After Tax (₹ Cr)
51.6%^
204.3
134.8
FY25
FY26
54.5%^
43.9
16.1%^
20.5
17.6
28.4
FY25
21.1%
FY26
21.5%
FY25
13.1%
FY26
10.0%
● Growth led by Shipway2; Uniware returned to double-digit YoY growth in Q4 FY26 after subdued demand environment during parts of the year
● Driven by operating leverage and cost
management; Adj. EBITDA margin stable despite Shipway2 consolidation
● Standalone Adj. EBITDA margin: 25.0% → 37.5%
● Lower growth in PAT vs Adjusted EBITDA due to non-cash expenses, including amortisation related to Shipway2 acquisition
Notes: Consolidated financials includes subsidiary (Shipway Technology Pvt. Ltd.) financials; ^YoY compares FY26 with FY25; (1) Adjusted EBITDA has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the PAT (2) Refers to Shipway Technology Private Limited which consists of Shipway and Convertway businesses
XX%
Margin as a % of Revenue
22
Q4 FY26: 14.0% YoY Revenue Growth and 7.8% YoY Adjusted EBITDA Growth
Revenue (₹ Cr)
Adjusted EBITDA (₹ Cr)1
Profit After Tax (₹ Cr)
14.0%^
51.6
7.8%^
9.6
45.3
8.9
1.6%^
3.3
3.4
Q4 FY25
Q4 FY26
Q4 FY25
Q4 FY26
Q4 FY25
Q4 FY26
19.6%
18.5%
7.4%
6.6%
● Uniware +11.7% YoY; Shipway2 +17.7% YoY ● QoQ decline due to seasonality (Q3 driven by festive demand; Q4 limited
to event-led sales); Similar trend observed last year
● Adjusted EBITDA & PAT growth moderated due to investments in
Shipway2 and Uniware, starting Q4 FY26
● Standalone Adj. EBITDA margin (Q4 FY25 vs. Q4 FY26): 32.1% → 40.8% ● For details on investment areas, refer to this section
Notes: Consolidated financials includes subsidiary (Shipway Technology Pvt. Ltd.) financials; ^YoY compares Q4 FY26 with Q4 FY25; (1) Adjusted EBITDA has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the PAT (2) Refers to Shipway Technology Private Limited which consists of Shipway and ConvertWay businesses
XX%
Margin as a % of Revenue
23
Strong Cash Generation Enabling Disciplined Investment in Existing Businesses and Strategic Inorganic Expansion in The Future
Cash Flow From Operations (₹ Cr)
Cash & Bank Balance (₹ Cr)1
68.1%^
47.0
130.2%^
81.3
28.0
35.3
Cash position has returned to pre-Shipway Technology acquisition levels within five quarters
FY25
FY26
FY25
FY26
Note: Consolidated financials includes subsidiary (Shipway Technology Pvt. Ltd.) financials; ^YoY compares FY26 with FY25;; (1) Cash & Bank Balance includes Cash & Cash Equivalent, Bank balances other than cash and cash equivalent, Deposits and Investments
24
Orchestrating India’s eCommerce Operations at Scale Using AI
Table of Contents
01
02
03
04
Executive Summary
FY26 at a Glance
FY 27 & Beyond
Q4 and FY26 Financial Results Summary
05
Appendix
Note: (1) Unicommerce processes a significant share of eCommerce orders across retailers and brands, handling approximately 25-30% of all dropship volumes through its Uniware platform in FY25, As per 1Lattice Report -”B2C and SaaS e-commerce opportunities in India”, Nov 2025
25
Processed 25-30% of all dropship volumes in India in FY25 (1)
Appendix
Key Performance Indicators & Financials
Our Multi-Platform Product Suite
26
Key Performance Indicators – FY26
KPIs
Revenue from contract with customers1
Total Income
Total Expense
Gross Margin2
Adj. EBITDA3
Adj EBITDA Margin%4
EBITDA5
EBITDA Margin%6
PBT
PBT Margin%7
PAT
PAT Margin%8
Annual Recurring Revenue9
Total Enterprise Clients (in Nos.)#^
Revenue per Employee10#^
Share of Revenue from Top 10 Clients (%)#^
FY26
204.3
208.4
179.6
53.3%
43.9
21.5%
35.4
17.3%
28.8
14.1%
20.5
10.0%
206.5
1,126
0.4
12.1%
FY25
134.8
140.2
116.1
69.4%
28.4
21.1%
26.5
19.6%
24.1
17.9%
17.6
13.1%
181.1
953
0.4
19.0%
Financial numbers in ₹ Cr
YoY Growth
51.6%
48.7%
54.8%
(1,616 bps)
54.5%
40 bps
33.8%
(231 bps)
19.4%
(380 bps)
16.1%
(306 bps)
14.0%
18.2%
-
(692 bps)
● Margin change reflects full-year consolidation of Shipway (vs 105 days in FY25), leading to a business mix shift rather than operational impact. Core Uniware profitability improved.
Standalone margins improved from FY25 to FY26: ○ Adj. EBITDA: 25.0% → 37.5% ○ EBITDA: 23.3% → 31.6% ○ PBT: 25.6% → 32.2% ○ PAT: 19.1% → 24.0%
● PAT, excluding non-cash
amortisation expenses related to Shipway acquisition, in FY26 is ₹25.3 Cr, compared to ₹20.4 Cr in FY25, up 23.6%
Notes: ^Unaudited & basis management of accounts (1) Revenue from contract with customers is total revenue generated by our Company from SaaS income and shipping service income, excluding other income sources. (2) Gross margin percentage represents the margin generated by the business after deducting the direct costs incurred to serve the clients, divided by revenue from contract with customers during the respective period / year. Direct costs include server hosting expense, software services and support cost attributable to business operation. (3) Adjusted EBITDA represents adjusted earnings before interest, taxes, depreciation and amortisation which has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the profit for the period / year. (4) Adjusted EBITDA Margin % represents Adjusted EBITDA as a % of revenue from contract with customers for the respective period / year. (5) EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the profit for the period / year. (6) EBITDA Margin % represents EBITDA as a % of revenue from contract with customers for the respective period / year. (7) Profit Before Tax Margin % represents Profit Before Tax as a % of revenue from contract with customers for the respective period / year. (8) Profit After Tax Margin % represents Profit After Tax as a % of revenue from contract with customers for the respective period / year. (9) Annual Recurring Revenue (“ARR”) is defined as revenue from contract with customers in the most recent quarter of the respective periods multiplied by 4. (10) Revenue from contract with customers / employee represents revenue from contract with customers divided by the average number of employees for the respective periods. For quarter periods, the ratio has been calculated on the basis of annualised revenue from contract with customers for the given period / year; (#) KPIs relate to Uniware platform only
27
Key Performance Indicators – Q4 FY26
KPIs
Q4 FY26
Q3 FY26
Q4 FY25
Revenue from contract with customers1
Total Income
Total Expense
Gross Margin2
Adj. EBITDA3
Adj EBITDA Margin%4
EBITDA5
EBITDA Margin%6
PBT
PBT Margin%7
PAT
PAT Margin%8
Annual Recurring Revenue9
Total Enterprise Clients (in Nos.)#^
Revenue per Employee10#^
Share of Revenue from Top 10 Clients (%)#^
51.6
52.8
46.9
50.6%
9.6
18.5%
6.9
13.4%
5.9
11.4%
3.4
6.6%
206.5
1,126
0.5
11.8%
56.4
57.6
47.7
53.5%
13.4
23.8%
10.9
19.4%
9.9
17.6%
7.4
13.1%
225.6
1,039
0.5
11.8%
45.3
46.3
41.5
55.6%
8.9
19.6%
8.2
18.2%
4.8
10.6%
3.3
7.4%
181.1
953
0.3
19.7%
Financial numbers in ₹ Cr
QoQ Growth
(8.5%)
(8.3%)
(1.7%)
YoY Growth
14.0%
14.0%
12.9%
(291 bps)
(504 bps)
(28.6%)
7.8%
(523 bps)
(107 bps)
(36.6%)
(15.8%)
(596 bps)
(475 bps)
(40.5%)
(616 bps)
(54.0%)
23.1%
84 bps
1.6%
(651 bps)
(80 bps)
(8.5%)
8.4%
-
-
14.0%
18.2%
0.2
(787 bps)
● Uniware grew 11.7% YoY; Shipway grew 17.7% YoY
● Revenue declined QoQ due to seasonality, with Q3 benefiting from festive demand and Q4 limited to event-led sales. Consistent with last year on a standalone basis
● Margins declined both QoQ and YoY due to investments initiated in Q4 FY26 to support long-term growth. For more details, refer to this section
Notes: ^Unaudited & basis management of accounts (1) Revenue from contract with customers is total revenue generated by our Company from SaaS income and shipping service income, excluding other income sources. (2) Gross margin percentage represents the margin generated by the business after deducting the direct costs incurred to serve the clients, divided by revenue from contract with customers during the respective period / year. Direct costs include server hosting expense, software services and support cost attributable to business operation. (3) Adjusted EBITDA represents adjusted earnings before interest, taxes, depreciation and amortisation which has been arrived at by adding share-based payment expenses (part of employee benefits expenses) to EBITDA. EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the profit for the period / year. (4) Adjusted EBITDA Margin % represents Adjusted EBITDA as a % of revenue from contract with customers for the respective period / year. (5) EBITDA refers to earning before interest, taxes, depreciation and amortisation which has been arrived at by adding total tax expense, finance cost, depreciation and amortisation expense and reducing other income to the profit for the period / year. (6) EBITDA Margin % represents EBITDA as a % of revenue from contract with customers for the respective period / year. (7) Profit Before Tax Margin % represents Profit Before Tax as a % of revenue from contract with customers for the respective period / year. (8) Profit After Tax Margin % represents Profit After Tax as a % of revenue from contract with customers for the respective period / year. (9) Annual Recurring Revenue (“ARR”) is defined as revenue from contract with customers in the most recent quarter of the respective periods multiplied by 4. (10) Revenue from contract with customers / employee represents revenue from contract with customers divided by the average number of employees for the respective periods. For quarter periods, the ratio has been calculated on the basis of annualised revenue from contract with customers for the given period / year; (#) KPIs relate to Uniware platform only
28
P&L – FY26
Particulars
Income
Revenue from contract with customers
Other income
Total income (I)
Expenses
Employee benefits expense
Server hosting expense
Finance costs
Depreciation and amortisation expense
Other expenses
Total expense (II)
Profit before tax (III = I-II)
Current tax
Adjustment of tax relating to earlier periods
Deferred tax charge/(credit)
Income tax expense (IV)
Profit for the quarter/year (V= III-IV)
For the quarter ended March 31, 2026 (Audited)
For the quarter ended December 31, 2025 (Audited)
For the quarter ended March 31, 2025 (Audited)
For the year ended March 31, 2026 (Audited)
For the year ended March 31, 2025 (Audited)
Financial numbers in ₹ Cr
51.63
1.18
52.81
19.19
1.92
0.21
2.00
23.58
46.90
5.91
2.32
0.37
(0.18)
2.51
3.40
56.39
1.22
57.62
17.87
1.45
0.22
2.02
26.13
47.69
9.93
2.71
-
(0.17)
2.54
7.39
45.27
1.06
46.34
15.70
1.39
0.15
4.36
19.94
41.54
4.80
2.38
-
(0.93)
1.45
3.35
204.34
4.08
208.42
68.55
5.97
0.78
9.95
94.39
179.64
28.78
8.95
0.37
(1.00)
8.32
20.46
134.79
5.40
140.20
61.15
6.05
0.58
7.20
41.11
116.09
24.11
6.56
1.14
(1.21)
6.49
17.62
Note: The figures in the table have been converted from millions to crores. Totals may not add up due to rounding off.
29
Cash Flow Statement (1/2)
Particulars
Cash flow from operating activities
Profit before tax for the year Adjustment to reconcile profit before tax for the year to net cash flows: Depreciation of property, plant and equipment Amortisation of Intangible assets Depreciation of right of use of assets Unrealised exchange (gain)/loss (Gain)/loss on sale of property, plant and equipment Loss on sale of property, plant and equipment Share-based payment expense Loss allowance on financials assets Finance Costs - Interest on lease liability Finance Costs - Interest on bank overdraft Income on financial instruments at fair value through fair value profit and loss Unwinding of discount on financial assets at amortised cost Interest income on bank deposits Loss on modification of lease liability Gain on termination of lease liability Gain on sale of investments Operating profits before working capital changes
Working capital adjustments:
Increase/(decrease) in trade payables and other payables Increase/(decrease) in provisions Increase/(decrease) in other liabilities and other financial liabilities Decrease/(increase) in trade receivables Decrease/(increase) in other assets and other financial assets Cash generated from operations Income taxes paid (net of refund) Cash flow from operating activities (A)
For the year ended March 31, 2026 (Audited)
For the year ended March 31, 2025 (Audited)
Financial numbers in ₹ Cr
28.78
0.60 7.19 2.17 (0.03) - 0.08 8.44 0.30 0.76 0.02 (1.21) (0.03) (2.29) 0.18 - (0.12) 44.82
4.81 (1.16) 6.47 2.38 (2.98) 54.33 (7.33) 47.00
24.11
0.51 3.83 2.85 - (0.00) - 1.91 1.74 0.57 0.00 (0.02) (0.15) (3.94) - (0.40) (0.56) 30.46
(2.07) (0.51) (10.95) 0.02 11.08 28.03 (0.07) 27.96
Note: The figures in the table have been converted from millions to crores. Totals may not add up due to rounding off.
30
Cash Flow Statement (2/2)
Particulars
Cash flow from investing activities
Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Addition to Intangible assets Payment towards acquisition of business, net of cash acquired Investment in bank deposits Redemption of bank deposits Investment in mutual fund Redemption of mutual fund Interest received on bank deposits Cash used in investing activities (B)
Cash flow from financing activities
Proceeds from issue of equity shares Payment made on cancellation/settlement of options Interest paid on bank overdraft Payment of principal portion of lease liabilities Payment of interest portion of lease liabilities Cash used in financing activities (C)
Net increase/(decrease) in cash and cash equivalents (A+B+C)
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
For the year ended March 31, 2026 (Audited)
For the year ended March 31, 2025 (Audited)
Financial numbers in ₹ Cr
(0.63) 0.15 (1.50) - (33.90) 17.50 (30.00) 3.75 1.86 (42.78)
0.00 - (0.02) (1.82) (0.76) (2.60)
1.62
1.97
3.60
(0.26) 0.00 (6.31) (67.23) (29.79) 73.79 (51.40) 54.39 4.82 (21.98)
0.00 (2.23) (0.00) (2.47) (0.57) (5.28)
0.70
1.27
1.97
Note: The figures in the table have been converted from millions to crores. Totals may not add up due to rounding off.
31
Balance Sheet (1/2)
Particulars
ASSETS
Non-current assets
Property, plant and equipment
Right-of-use assets
Goodwill
Intangible assets
Intangible assets under development
Financial assets
Other financial assets
Total non-current assets
Current assets
Financial assets
Investments
Trade receivables
Cash and cash equivalents
Bank balances other than cash and cash equivalents
Other financial assets
Other current assets
Total current assets
Total assets
As at March 31, 2026 (Audited)
As at March 31, 2025 (Audited)
Financial numbers in ₹ Cr
1.52
9.14
117.21
36.36
-
31.62
195.86
31.19
10.99
3.60
3.15
19.86
5.92
74.70
270.55
1.09
7.28
117.21
35.74
6.31
3.53
171.16
3.61
13.64
2.43
0.15
34.88
2.38
57.07
228.24
Note: The figures in the table have been converted from millions to crores. Totals may not add up due to rounding off.
32
Balance Sheet (2/2)
Particulars
EQUITY AND LIABILITIES Equity Equity share capital Other Equity Total equity
Liabilities
Non-current liabilities
Financial Liabilities Lease liabilities Other financial liabilities Provisions Deferred tax liabilities (net) Total non-current liabilities
Current liabilities
Financial Liabilities
Borrowings Lease liabilities
Trade and other payables
total outstanding dues of micro and small enterprises total outstanding dues of creditors other than micro and small enterprises Other financial liabilities Provisions Current tax liabilities (net) Other current liabilities Total current liabilities Total liabilities Total equity and liabilities Note: The figures in the table have been converted from millions to crores. Totals may not add up due to rounding off.
As at March 31, 2026 (Audited)
As at March 31, 2025 (Audited)
Financial numbers in ₹ Cr
11.24 181.73 192.97
7.57 - 3.01 5.34 15.92
- 1.90 - 0.06 24.98 12.74 1.68 3.18 17.13 61.67 77.58 270.55
10.33 59.82 70.15
5.91 0.00 3.68 6.31 15.90
0.45 1.34 - 0.01 20.22 104.77 2.21 1.20 11.98 142.19 158.09 228.24
33
Appendix
Key Performance Indicators & Financials
Our Multi-Platform Product Suite
34
AI-first SaaS Platforms Enabling eCommerce Across the Value Chain
One Stop for All eCommerce Automation Needs
Pre-purchase Stage
Order Processing
Shipping & Post-delivery
Marketing Automation
Operations Automation
Logistics Automation
featuring Catalyst AI
featuring UniBot AI
featuring ShipSense AI
Increase Sales
Streamline Operations
Reduce Costs
35 35
Adopted by Marquee Enterprises Across the eCommerce Ecosystem
Fashion, Footwear & Accessories
Beauty, Personal Care & FMCG
8,000+ 1 Clients
Pharma, Nutrition & Medical
Home & Services
Electronics
Brand Aggregators & House of Brands
International
….and more
Note: (1) Count of clients and list of logos represent clients of Uniware, Shipway and Convertway as of Q4 FY26; Logos displayed are for representation purposes only and remain the property of their respective owners.
36
Marketing Platform Unlocking Revenue Across Customer Journey
Convertway
Uniware
Shipway
Comprehensive SaaS Suite to Automate Marketing
featuring Catalyst AI
AI Voice Agent
AI Voice Whatsapp RCS SMS Email Agent
Acquisition & Conversion
Supported Campaigns
Welcome
Support
Browse Abandon
Cart Abandon
Upsell
Reviews
Win Back
COD to Prepaid
Retention & Support
37
More Subscribers, More Conversions, More Retention.
Plug-and-Play AI Conversational Commerce for Revenue Growth
Convertway
Uniware
Shipway
Catalyst – AI Voice Agent That Closes Sales for eCommerce Brands
Catalyst
Click to Play Demo Video
● Human-like
conversations at scale
● Personalised for each brand and product
● Bilingual support
● Dynamic language switch
● Upto 1.5x conversions
38
Mission-Critical System of Record for eCommerce Operations
Convertway
Uniware
Shipway
Comprehensive SaaS Suite to Automate Operations
featuring UniBot AI
Extensive Product Portfolio
Order Management System
D2C Website
Marketplace
Quick Commerce
B2B / Wholesale
Warehouse & Inventory Management System
Omnichannel Retail Management System
Vendor Management Panel for Marketplaces
UniReco: Payment Reconciliation
UniCapture: Shipment Video Capture for Dispute Claims
Built for Enterprise Scale and Complexity of Operations
290+ Integrations to Bring All Systems Together
Shipping Providers
Marketplace
Quick Commerce
ERP / POS
39
Industry-first AI Assistant Enabling Conversational Operations
Convertway
Uniware
Shipway
UniBot AI Assistant – Easy Way to Run Your eCommerce Operations
● Initiate actions based on
conversational commands such as generation of pick-list, processing of orders, etc.
● Generate visualisations and
data analysis
● Resolve support queries
40
Click to Play Demo Video
New Uniware Modules Expanding Monetisation Opportunities
Convertway
Uniware
Shipway
Quick Commerce & B2B
UniCapture
UniReco
Custom workflows to process bulk orders across Quick Commerce, B2B/wholesale trade
Auto-fetch POs from QC portals or emails
Validate MRP, selling price, EAN, and HSN codes to avoid disputes
Process within short timeline, auto-generate e-way bills and e-invoices for compliance
Video proof to address return-claim disputes with marketplaces and shipping providers
Verify dispatch accuracy
Cloud storage with quick retrieval
Plug and play set-up
Click to Play Demo Video
Identify payment mismatches and unexplained deductions
Manage the complexity of dynamic rate cards
Identify losses from expected returns not received
Normalise financial transaction data across channels
Note: Logos displayed are for representation purposes only and remain the property of their respective owners.
41
Flexible Logistics Automation for Evolving D2C Needs
Convertway
Uniware
Shipway
Comprehensive SaaS Suite to Automate Logistics Operations
featuring ShipSense AI
Courier Aggregation with ShipSense AI Allocation
Shipway Cargo for B2B Courier Aggregation
Non-Delivery Follow-ups
RTO Reduction Suite
Branded Tracking Page Module for Website
Refund and Exchange Management Module for Website
Value-added Services
Non-Delivery Follow-ups
Fraud Detection
COD Verification
Address Verification
Branded Communications
Early COD Remittance
42
Full-service Courier Aggregation SaaS with a Software-Only Automation Option to Manage Own Courier Relationships
AI-Driven Order Allocation Based on Data, Not Assumptions
Convertway
Uniware
Shipway
ShipSense AI Courier Allocation – Optimising Cost and Delivery Experience for Every Order
Click to Play Demo Video
● Auto-selects the best-fit
courier per order based on cost and past performance at the order location
● Cuts shipping costs and
reduce RTO
● No manual rules or changes required
43
For further information, please contact
Company:
Investor Relations Advisors:
CIN: L74140DL2012PLC230932 Investor Relations investor.relations@unicommerce.com
CIN: U74140MH2010PTC204285 Mr. Rahul Agarwal / Mr. Karan Thakker rahul.agarwal@sgapl.net / karan.thakker@sgapl.net +91 98214 38864 / +91 81699 62562
www.unicommerce.com
www.sgapl.net
44