26-Oct-2026 12:44:45
UNICOMMERCE eSOLUTIONS Q2 CONCALL : TARGETS ABOVE 15% UNIWARE GROWTH & 20% SHIPWAY GROWTH FROM Q4, EXPECTS SHIPWAY PROFITABILITY & H2 MARGIN RECOVERY
• MANAGEMENT EXPECTS UNIWARE REVENUE GROWTH TO ACCELERATE ABOVE 15% YOY FROM Q4 FY27, SUPPORTED BY STRONGER CLIENT ACQUISITION & NEW PRODUCTS • SHIPWAY REVENUE GROWTH EXPECTED TO EXCEED 20% YOY FROM Q4 FY27, DRIVEN BY CUSTOMER ADDITIONS & CROSS-SELLING OPPORTUNITIES • SHIPWAY TARGETS ADJUSTED EBITDA BREAKEVEN OR POSITIVE EBITDA FROM Q3 FY27, FOLLOWING ELEVATED INVESTMENTS IN H1 • MANAGEMENT EXPECTS SHIPWAY TO ACHIEVE NET PROFITABILITY FROM Q4 FY27, SUPPORTING CONSOLIDATED EARNINGS RECOVERY • CONSOLIDATED EBITDA MARGINS EXPECTED TO IMPROVE IN H2 FY27 AS INCREMENTAL INVESTMENTS MODERATE FROM Q3 • MANAGEMENT AIMS TO RESTORE CONSOLIDATED ADJUSTED EBITDA MARGINS ABOVE 20% AT STEADY STATE, WITHOUT A SPECIFIC TIMELINE • CORE UNIWARE BUSINESS REPORTED 36% ADJUSTED EBITDA MARGIN IN Q2, PROVIDING A STRONG PROFITABILITY BASE • Q2 REVENUE UP 15% YOY TO ₹59.1 CR, WHILE ADJUSTED EBITDA DOWN 12.3% YOY TO ₹10 CR DUE TO HIGHER TECHNOLOGY & MARKETING INVESTMENTS • ENTERPRISE CLIENT ADDITIONS UP 17.5% YOY TO 121, WITH NEW CUSTOMERS EXPECTED TO SCALE REVENUE CONTRIBUTIONS OVER 6–9 MONTHS • UNIRECO & UNICAPTURE REVENUE CONTRIBUTION COULD EXCEED 10% OF UNIWARE REVENUE IN 2–3 YEARS VS CURRENT APPROXIMATELY 2.5% • NEW MODULES HAVE CROSSED ₹3 CR ANNUALIZED REVENUE RUN RATE, WITH OVER 150 CUSTOMERS USING THESE PRODUCTS • AI-POWERED DNA PLATFORM CURRENTLY IN BETA TESTING WITH 10–15 CUSTOMERS, WHILE COMMERCIAL MONETIZATION STRATEGY REMAINS UNDER DEVELOPMENT • SHIPWAY CROSSED ₹100 CR ANNUALIZED REVENUE RUN RATE, WITH MANAGEMENT SEEING SIGNIFICANT MARKET SHARE EXPANSION OPPORTUNITIES FROM CURRENT BELOW 5% • INTERNATIONAL REVENUE CONTRIBUTION REACHED APPROXIMATELY 6% OF UNIWARE REVENUE, WITH MANAGEMENT AIMING FOR LOW-DOUBLE-DIGIT CONTRIBUTION OVER TIME • MANAGEMENT ASPIRES TO GROW THE BUSINESS APPROXIMATELY 5X OVER FIVE YEARS THROUGH ORGANIC EXPANSION & SELECTIVE ACQUISITIONS; SHIPWAY PROFITABILITY EXECUTION, PRESSURE ON AVERAGE REVENUE PER ACCOUNT & ELEVATED INVESTMENTS REMAIN KEY RISKS
UNICOMMERCE ESOLUTIONS L