Revenue grew 33% from Rs 1,415 crore in FY23 to Rs 1,885 crore in FY24, according to a company statement.
The Bengaluru-headquartered firm said it has “significantly diversified” its revenue streams and a major contributions now come from value-added services (VAS).
“These services include Prime solutions (same day and next day delivery), reverse logistics, hand-to-hand exchange, and the rapidly expanding quick commerce (10-minute delivery). Shadowfax holds a leadership position or controls upwards of 50% market share in each of these services, establishing itself as one of the most diversified third-party logistics players in the market today,” the statement said.
It further said Shadowfax has accelerated its outlay in the middle-mile network over the past few years, with investments of over Rs 200 crore to automate its 40 sort centres.
Last year, Shadowfax launched Prime Delivery, which provides same-day and next-day delivery services to more than 200 companies across the nation’s top 50 metro areas.
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The Prime category now accounts for about 10% of the company’s total orders, the statement said.
“The company recently crossed 250K daily orders in this segment and has experienced more than a five-fold growth here in the past year,” it said.
