AceVector Reports Strong Growth in Q2 FY27
AceVector, the parent entity of the e-commerce platform Snapdeal, has announced its first quarterly results following its recent listing earlier this month. The firm’s revenue saw a remarkable 17% year-on-year increase, exceeding Rs 150 crore in Q2 FY27, while its losses were recorded at Rs 17.6 crore.
As per the unaudited quarterly results, AceVector’s operating revenue reached Rs 151.2 crore in Q2 FY27, in comparison to Rs 129.3 crore during the same period last year. The marketplace business of Snapdeal contributed the most significant portion of AceVector’s operating revenue at 57%, yielding Rs 86.2 crore, up 15% year-on-year. Additionally, the e-commerce enablement SaaS platform, Unicommerce, contributed Rs 59 crore, while consumer brands added Rs 6 crore to the operating revenue.
After including Rs 2.6 crore in non-operating income, the total income for AceVector amounted to Rs 153.8 crore in Q2 FY27. For the first half of FY27, AceVector’s consolidated revenue grew by 17% year-on-year, reaching Rs 285.5 crore, buoyed by impressive growth from both Snapdeal and Unicommerce. Snapdeal’s revenue increased by 15% to reach Rs 164.4 crore, while Unicommerce reported a similar 15% increase, totalling Rs 110.4 crore.
Furthermore, Snapdeal’s fashion net merchandise value (NMV) surged by 31% year-on-year to Rs 407.6 crore in H1 FY27. The annual transacting customer base expanded by 12% to 130.8 lakh, whilst app-delivered units experienced a 23% rise, reaching 133.6 lakh. During this period, the company also introduced an AI solutions suite, aimed at customers, sellers, and creators, featuring product discovery, personalised recommendations, and robust seller support.
Logistics costs continued to be AceVector’s largest expenditure at Rs 71.4 crore, marking a 20% increase year-on-year. This expense constituted over 42% of the total spending. Employee benefit expenses recorded Rs 46 crore during the quarter.
AceVector’s total expenditures soared by over 21% year-on-year, rising to Rs 168.7 crore in Q2 FY27 from Rs 138.7 crore in the same quarter the previous year. This rapid increase in expenses in contrast to revenue resulted in an 85% rise in losses to Rs 17.6 crore, which included Rs 1.3 crore in exceptional items.
AceVector experienced a challenging debut on the stock market, with its shares entering at an 11.5% discount to the IPO price of Rs 32. The stock commenced trading at Rs 28.32 on the NSE and Rs 28.30 on the BSE, despite the Rs 420 crore IPO receiving around five times subscription. This issue consisted of a fresh issue of Rs 287 crore and an offer for sale (OFS) amounting to Rs 133 crore, with a price range set between Rs 30 to Rs 32 per share. By the close of Monday’s trading session, AceVector’s shares finished at Rs 20.92, resulting in a total market capitalization of Rs 1,138 crore.