Unicommerce eSolutions spurts after good Q4 outcome
On a consolidated basis, the company's adjusted EBITDA increased by 98.1% year-on-year (YoY) to Rs 8.88 crore in Q4 March 2025. Adjusted EBITDA margins increased by ~271 bps YoY to 19.6%, up from 16.9% in Q4 FY24.
For the full year, net profit rose 34.3% to Rs 17.62 crore while net sales rose 30.1% to Rs 134.79 crore in the year ended March 2025 over the year ended March 2024. Adjusted EBITDA increased by 56.3% YoY to Rs 28.39 crore in FY25. Adjusted EBITDA margins increased by ~353 bps YoY to 21.1%, up from 17.5% in FY24.
At the end of Q4 and FY25, the company's Annual Recurring Revenue stood at Rs 181.10 crore, reflecting a growth of ~70.6% YoY.
Unicommerce added more than 125 enterprise clients to Uniware in Q4 FY25 its highest-ever quarterly addition. These clients include prominent brands such as Tata 1MG, Duroflex, Reid & Taylor, and Ethos, along with innovative brands featured on Shark Tank India, such as FAE Beauty and KIWI Kisan.
Kapil Makhija, managing director & CEO said, "We conclude FY25 marking a significant milestone first, the 100% acquisition of Shipway Technology has been approved by our board and our shareholders, and second, reaching Adjusted EBITDA breakeven for Shipway.
The broader macro-environment continued to remain muted in FY25. Despite the headwinds, our Net Revenue Retention (NRR) for Uniware, which is measured as revenue growth in FY25 from clients active in FY24, stood at 103%. While the broader industry trend of slower e-commerce growth resulted in drop in NRR from 108% in FY24 to 103% in FY25, we remained focused on our core execution levers maintaining a 100%+ NRR from existing clients, scaling new client acquisitions and expanding our cross-sell footprint, particularly for Shipway.
Looking ahead to FY26, we remain committed to disciplined execution with a focus on revenue growth, operational efficiency, and sustained profitability."
Anurag Mittal, chief financial officer said, "Our cash and bank balance stood at INR 353.0 Mn as of March 25, compared to INR 690.1 Mn as of March 24. The year-on-year change reflects the cash outflow of INR 684 Mn for the acquisition of 'Shipway Technology'. Net cash flow from operations improved to INR 279.6 Mn in FY25, up from INR 61.7 Mn in FY24.
As we move into FY26, we are focused on further strengthening the Uniware platform and fully leveraging the Shipway acquisition.
We have consistently delivered strong performance over the years and expect to sustain this momentum, driven by operating leverage and growing profitability in our Uniware business, while Shipway is expected to contribute meaningfully to growth."
Unicommerce eSolutions is a leading e-commerce enablement Software-as-a-Service ("SaaS") platform that enables end-to-end management of e-commerce operations for brands, marketplaces, and logistics service provider firms.
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