Integrated Filing — IndAS



General information about company

Scrip Code 544685
NSE Symbol SHADOWFAX
MSEI Symbol NOTLISTED
ISIN INE12UN01015
Name of company Shadowfax Technologies Limited
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 14-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 08-05-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Logistics and Delivery Services
Start date and time of board meeting 14-05-2026   13:27:00
End date and time of board meeting 14-05-2026   15:14:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 23-06-2025
Indicate Company website link for updated RPT policy of the Company https://shadowfax.in/investor-relations/corporate-governance-policies/12.%20Shadowfax%20Policy%20on%20Materiality%20of%20RPTs.pdf
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
No default on Loans and Debt securities during the quarter and year ended March 31, 2026



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 1,20,581.00 4,08,035.00
Other income 1,592.00 3,661.00
Total income 1,22,173.00 4,11,696.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 10,416.00 35,744.00
(e) Finance costs 613.00 1,838.00
(f) Depreciation, depletion and amortisation expense 3,319.00 10,824.00
(f) Other Expenses
1 Other Expenses 1,02,298.00 3,51,772.00
Total other expenses 1,02,298.00 3,51,772.00
Total expenses 1,16,646.00 4,00,178.00
3 Total profit before exceptional items and tax 5,527.00 11,518.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 5,527.00 11,518.00
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 0.00 0.00
9 Total tax expenses 0.00 0.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 5,527.00 11,518.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 5,527.00 11,518.00
17 Other comprehensive income net of taxes 44.00 12.00
18 Total Comprehensive Income for the period 5,571.00 11,530.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 58,227.00 58,227.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 1,16,643.00
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.98 2.29
Diluted earnings (loss) per share from continuing operations 0.96 2.25
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.98 2.29
Diluted earnings (loss) per share from continuing and discontinued operations 0.96 2.25
24 Debt equity ratio 13.3800 13.3800
25 Debt service coverage ratio 243.7500 243.7500
26 Interest service coverage ratio 657.700 657.700
27 Disclosure of notes on financial results



Remarks

Debt equity ratio
Debt service coverage ratio Due to profit earned and increase in revenue from operations during the year as compared to previous year.
Interest service coverage ratio Due to profit earned and increase in revenue from operations during the year as compared to previous year.


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 31-03-2026
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 47,464.00
Capital work-in-progress
Investment property
Goodwill 0.00
Other intangible assets 4,579.00
Intangible assets under development
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 5,083.00
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets
1 Other financial assets 1,288.00
2 Other bank balances 54,004.00
Total of other non-current financial assets 55,292.00
Total non-current financial assets 60,375.00
Deferred tax assets (net)
Other non-current assets
1 Income tax assets 3,372.00
2 Other non-current assets 1,336.00
Total of other non-current assets 4,708.00
Total non-current assets 1,17,126.00
2 Current assets
Inventories 0.00
Current financial asset
Current investments 35,372.00
Trade receivables, current 49,885.00
Cash and cash equivalents 28,003.00
Bank balance other than cash and cash equivalents 21,668.00
Loans, current 298.00
Other current financial assets
Total of other current financial assets 26,264.00
Total current financial assets 1,61,490.00
Current tax assets (net)
Other current assets
1 Other current assets 225.00
Total of other current assets 225.00
Total current assets 1,61,715.00
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 2,78,841.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 58,227.00
Other equity 1,16,643.00
Total equity attributable to owners of parent 1,74,870.00
Non controlling interest
Total equity 1,74,870.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities
1 Lease liabilities 16,978.00
2 Other financial liabilities 0.00
Total of other non-current financial liabilities 16,978.00
Total non-current financial liabilities 16,978.00
Provisions, non-current 1,569.00
Deferred tax liabilities (net)
Deferred government grants, Non-current
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 18,547.00
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 75.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 36,121.00
Total Trade payable 36,196.00
Other current financial liabilities
1 Lease liabilities 6,418.00
2 Other financial liabilities 30,159.00
Total of other current financial liabilities 36,577.00
Total current financial liabilities 72,773.00
Other current liabilities 12,263.00
1 Other current liabilities 12,263.00
Total of other current liabilities 12,263.00
Provisions, current 388.00
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 85,424.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 1,03,971.00
Total equity and liabilites 2,78,841.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-01-2026 01-04-2025
Date of end of reporting period 31-03-2026 31-03-2026
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-01-2026 01-04-2025
B Date of end of reporting period 31-03-2026 31-03-2026
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Actuarial loss on remeasurement of defined employee benefit plans 44.00 12.00
Total Amount of items that will not be reclassified to profit and loss 44.00 12.00
2 Income tax relating to items that will not be reclassified to profit or loss 0.00 0.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income 44.00 12.00



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 31-03-2026
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 11,518.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 1,838.00
Adjustments for decrease (increase) in inventories 0.00
Adjustments for decrease (increase) in trade receivables, current (18,864.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current (1,430.00)
Adjustments for other financial assets, current (5,449.00)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 15,820.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 10,824.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 22,202.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 0.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 0.00
Adjustments for share-based payments 2,188.00
Adjustments for fair value losses (gains) (2,007.00)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 160.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 25,282.00
Net cash flows from (used in) operations 36,800.00
Dividends received 0.00
Interest paid 0.00
Interest received (11.00)
Income taxes paid (refund) 2,553.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 34,236.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 569.00
Other cash receipts from sales of equity or debt instruments of other entities 1,50,125.00
Other cash payments to acquire equity or debt instruments of other entities 1,50,700.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 18,433.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 1,279.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (90,380.00)
Net cash flows from (used in) investing activities (1,08,678.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 1,00,005.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 574.00
Payments of lease liabilities 7,508.00
Dividends paid 0.00
Interest paid 31.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (4,885.00)
Net cash flows from (used in) financing activities 87,007.00
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 12,565.00
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents 12,565.00
Cash and cash equivalents cash flow statement at beginning of period 15,438.00
Cash and cash equivalents cash flow statement at end of period 28,003.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 B S R & Co. LLP Yes 31-07-2028


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)

Amount in (Lakhs)

Mode of Fund Raising Public Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 23-01-2026
Amount Raised 1,00,000.00
Report filed for Quarter ended 31-03-2026
Monitoring Agency Applicable
Monitoring Agency Name, if applicable CARE Ratings Limited
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation
Comments of the Audit Committee after review
Comments of the auditors, if any
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any


Signatory Details

Name of signatory Krishnakanth G V
Designation of person Company Secretary and Compliance Officer
Place Bangalore
Date 14-05-2026




Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)

Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Criticalog India Private Limited Subsidary Loan 274.00 Approval given for providing Working Capital loan 0.00 274.00 276.00 Loan 8.500 As may be mutually agreed Unsecured For General Business purpose
2 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Criticalog India Private Limited Subsidary Interest received 2.00 Approval given for Interest on Working Capital loan 25.00 12-02-2026 11.00 11.00 22.00
3 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Flipkart Internet Private Limited Significant Influence Exist Sale of goods or services 1,836.00 Approval granted for sale & purchase of goods or services 3,000.00 12-02-2026 3,992.00 311.00 0.00
4 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Instakart Services Private Limited Significant Influence Exist Sale of goods or services 26,686.00 Approval granted for sale & purchase of goods or services 20,000.00 12-02-2026 23,399.00 21,917.00 0.00
5 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Pincode Shopping Solutions Private Limited Group Company with in Walmart Group Sale of goods or services 825.00 Approval granted for sale & purchase of goods or services 0.00 28.00 0.00
6 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Wal-mart India Private Limited Group Company with in Walmart Group Sale of goods or services 23.00 Approval granted for sale & purchase of goods or services 10.00 12-02-2026 0.00 22.00 0.00
7 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Criticalog India Private Limited Subsidary Sale of goods or services 227.00 Approval granted for sale & purchase of goods or services 200.00 12-02-2026 208.00 187.00 933.00
8 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Abhishek Bansal Chairman, Managing Director & Chief Executive Officer Remuneration 121.00 Approval granted for Remuneration 48.00 12-02-2026 50.00 0.00 5.00
9 Shadowfax Technologies Limited (formerly known as Shadowfax Technologies Private Limited) Vaibhav Khandelwal Whole Time Director Remuneration 121.00 Approval granted for Remuneration 48.00 12-02-2026 43.00 0.00 0.00
Total value of transaction during the reporting period 27,703.00