AceVector revenue rises 17% in Q2 FY27 as EBITDA loss widens

AceVector Limited reported revenue from operations of INR 151.2 crore in Q2 FY27, up 17% year on year from INR 129.3 crore, while its adjusted EBITDA loss widened to INR 8.6 crore as festive marketing and growth spending increased.

What did AceVector report for Q2 FY27?

AceVector reported consolidated revenue from operations of INR 151.2 crore for the quarter ended September 30, 2026, compared with INR 129.3 crore in Q2 FY26. The company said its revenue growth was supported by its businesses, including Snapdeal and the software platforms Uniware and Shipway. Consolidated revenue from operations for the first half of FY27 stood at INR 285.5 crore, representing 17% year-on-year growth.

Profitability remained under pressure during the quarter. Adjusted EBITDA loss was INR 8.6 crore in Q2 FY27, against a loss of INR 2.2 crore in the corresponding quarter a year earlier. Management attributed the higher loss to festive marketing expenditure and investments intended to support growth. However, the quarterly loss was lower than the approximately INR 18.3 crore loss reported in Q1 FY27.

Why did AceVector's adjusted EBITDA loss widen?

AceVector said festive marketing spending and wider growth initiatives affected profitability in Q2 FY27. The quarter includes an important period for Indian e-commerce platforms, and the company continued to spend even as it focused on improving its quarter-on-quarter cost performance. The result was a year-on-year increase in adjusted EBITDA loss despite higher revenue.

The sequential comparison provides a different view of the quarter. The adjusted EBITDA loss fell by more than half from about INR 18.3 crore in Q1 FY27 to INR 8.6 crore in Q2 FY27. This reduction came while the company absorbed festive marketing costs. The disclosed figures do not provide a separate financial breakup for marketing expenditure, Snapdeal, Uniware, Shipway, or other operating costs.

What did management say about Snapdeal, Uniware and Shipway?

Management said it expects Snapdeal's overall business growth to remain in the thirties going forward, with category mix stable. Snapdeal is AceVector's value-focused e-commerce marketplace, connecting consumers with sellers of affordable fashion products. This is management guidance rather than reported financial performance.

For its software-related operations, management guided for Uniware growth of more than 15% and Shipway growth of more than 20% from January to March 2027 onwards. During the call, Achinte Sethia said the platform maintained a contribution margin of 10% of NMV, with an average selling price of nearly INR 400 and unit contribution of INR 40 per order. The company also described its fulfilment network as being integrated with AI-driven analytics for direct-to-consumer brands and large retail enterprises in India.

How was the Q2 FY27 earnings call disclosed to investors?

AceVector held its analyst and investor conference call on October 27, 2026, at 9:00 AM IST to discuss Q1, Q2 and H1 FY27 financial performance. The call included co-founders and Joint Managing Directors Kunal Bahl and Rohit Bansal, Snapdeal CEO Achint Setia, Unicommerce CEO Kapil Makhija, and CFO Bharat Venishetty.

The company subsequently informed the National Stock Exchange of India and BSE that the audio recording was available on its website. The disclosure was made under Regulations 30 and 46(2) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The filing gives shareholders access to management's comments and the question-and-answer discussion, supporting review of the results beyond the reported headline figures.

What does the Q2 performance mean for investors?

AceVector's Q2 result shows that its revenue continued to grow at a double-digit rate, with consolidated revenue increasing 17% both for the quarter and the first half. At the same time, the widening year-on-year EBITDA loss indicates that revenue expansion has not yet translated into improved profitability versus the comparable quarter. Investors assessing the result therefore have to consider both growth and the costs associated with it.

The sequential decline in the EBITDA loss is a relevant operating indicator, but it does not change the reported year-on-year comparison. Management's stated growth plans for Snapdeal, Uniware and Shipway are also forward-looking targets rather than achieved results. The available disclosures do not state a share-price movement, valuation measure, net profit figure, or a timetable for reaching EBITDA profitability.

Conclusion

AceVector delivered INR 151.2 crore of revenue in Q2 FY27, up 17% from a year earlier, but reported an adjusted EBITDA loss of INR 8.6 crore as festive marketing and growth investments weighed on earnings. The company nevertheless reduced its loss by more than half from Q1 FY27, making sequential cost performance a central part of the reported update.

Investors will next watch whether management's stated growth guidance is reflected in operating results, particularly the more than 15% target for Uniware and more than 20% target for Shipway from January to March 2027 onwards. Further disclosures on spending, segment performance and profitability will be relevant to assessing progress.