Buy

Last Updated: 14 Feb 2026, 09:24 pm IST | Report Date: Feb 14, 2026

Unicommerce Esolutions Limited Stock Analysis

Name: Unicommerce Esolutions Limited (UNIECOM) Stock Analysis
Brand: NSE India
Rating: 7.8 (1 reviews)

UNIECOM NSE India

Unicommerce Esolutions Limited (UNIECOM) is a India-based company listed on NSE. This AI-powered analysis provides investment insights based on quarterly earnings reports and financial performance metrics.

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Unicommerce delivered strong Q3 FY26 results with consolidated revenue surging 72.3% YoY to Rs. 563.94 million and profit jumping 17.4% to Rs. 73.86 million, demonstrating robust topline momentum despite margin pressure from integration costs. The nine-month performance is equally compelling with revenue up 70.6% YoY to Rs. 1,527.10 million and profit growing 19.5% to Rs. 170.57 million, reflecting sustainable demand for their supply chain SaaS platform. Operating leverage is evident as EBITDA margins expanded sequentially from Q2 to Q3, though diluted EPS of Rs. 0.63 (Q3) reflects the recent equity dilution from the Shipway acquisition. The company's transition to consolidated reporting post-Shipway integration positions it for cross-selling opportunities in the logistics-tech space.

Based on: Unicommerce Esolutions Limited - Financial Results (14/2/2026) (Feb 14, 2026)

+ Key Strengths

Exceptional revenue growth of 72.3% YoY (Q3) and 70.6% YoY (9M) driven by strong demand for supply chain management software solutions

Profit after tax grew 17.4% YoY in Q3 FY26 to Rs. 73.86 million with nine-month PAT at Rs. 170.57 million, up 19.5% YoY, indicating sustained profitability

Sequential margin improvement visible as profit before tax increased from Rs. 77.88 million in Q2 to Rs. 99.26 million in Q3 (27.5% QoQ growth)

Strong cash generation capability with current tax outflow of Rs. 66.28 million for 9M FY26 indicating positive taxable income and operational health

Successful integration of Shipway Technology completed with consolidated financials now operational, unlocking cross-selling potential across 100% owned logistics-tech subsidiary

Minimal debt with finance costs of just Rs. 5.68 million for 9M FY26 (0.36% of revenue), reflecting strong balance sheet and financial flexibility

- Key Risks

EPS dilution from 1.85 (9M FY25) to 1.51 (9M FY26) due to allotment of 6,033,189 equity shares for Shipway acquisition, impacting per-share returns

Employee benefit expenses surged 67.8% YoY in Q3 to Rs. 178.69 million, outpacing revenue growth and compressing operating margins

Server hosting costs nearly doubled QoQ from Rs. 13.52 million (Q2) to Rs. 14.54 million (Q3), indicating scaling infrastructure costs as platform expands

Other expenses increased significantly by 177% YoY in Q3 to Rs. 261.26 million, driven by cross-charged costs from AceVector for transferred employees in legal, finance, and HR functions

Other income declined 31.5% QoQ from Rs. 12.22 million (Q3) to Rs. 8.52 million (Q2), suggesting reduced treasury gains or one-time income normalization

Dependency on single reportable segment (supply chain management SaaS) creates concentration risk with no diversification across verticals

Forward Outlook

During Q3 FY26, Unicommerce completed the strategic integration of Shipway's logistics technology with its internally developed supply chain solutions, capitalizing Rs. 78.10 million as intangible assets and launching the UniReco payment reconciliation module (Rs. 19.20 million capitalized). The company successfully listed the 6,033,189 Shipway acquisition shares on October 9, 2025, enabling it to leverage a fully owned subsidiary for cross-selling logistics-tech and SaaS solutions to its expanding e-commerce client base. With server costs scaling and employee headcount increasing through the AceVector resource-sharing arrangement, near-term catalysts include monetization of the newly launched payment reconciliation module and realization of synergies from the Shipway integration. The sequential margin recovery from Q2 to Q3 suggests operational leverage is beginning to materialize, positioning the company for accelerated profitability as integration costs normalize over the next 2-3 quarters.

All Scores

Date	Report	Score	Sentiment	AI
Feb 14, 2026	Unicommerce Esolutions Limited - Financial Results (14/2/2026)	7.8	Buy	Claude
Unicommerce delivered strong Q3 FY26 results with consolidated revenue surging 72.3% YoY to Rs. 563.94 million and profit jumping 17.4% to Rs. 73.86 million, demonstrating robust topline momentum despite margin pressure from integration costs. The nine-month performance is equally compelling with revenue up 70.6% YoY to Rs. 1,527.10 million and profit growing 19.5% to Rs. 170.57 million, reflecting sustainable demand for their supply chain SaaS platform. Operating leverage is evident as EBITDA margins expanded sequentially from Q2 to Q3, though diluted EPS of Rs. 0.63 (Q3) reflects the recent equity dilution from the Shipway acquisition. The company's transition to consolidated reporting post-Shipway integration positions it for cross-selling opportunities in the logistics-tech space. STRENGTHS: Exceptional revenue growth of 72.3% YoY (Q3) and 70.6% YoY (9M) driven by strong demand for supply chain management software solutions / Profit after tax grew 17.4% YoY in Q3 FY26 to Rs. 73.86 million with nine-month PAT at Rs. 170.57 million, up 19.5% YoY, indicating sustained profitability / Sequential margin improvement visible as profit before tax increased from Rs. 77.88 million in Q2 to Rs. 99.26 million in Q3 (27.5% QoQ growth) / Strong cash generation capability with current tax outflow of Rs. 66.28 million for 9M FY26 indicating positive taxable income and operational health / Successful integration of Shipway Technology completed with consolidated financials now operational, unlocking cross-selling potential across 100% owned logistics-tech subsidiary / Minimal debt with finance costs of just Rs. 5.68 million for 9M FY26 (0.36% of revenue), reflecting strong balance sheet and financial flexibility RISKS: EPS dilution from 1.85 (9M FY25) to 1.51 (9M FY26) due to allotment of 6,033,189 equity shares for Shipway acquisition, impacting per-share returns / Employee benefit expenses surged 67.8% YoY in Q3 to Rs. 178.69 million, outpacing revenue growth and compressing operating margins / Server hosting costs nearly doubled QoQ from Rs. 13.52 million (Q2) to Rs. 14.54 million (Q3), indicating scaling infrastructure costs as platform expands / Other expenses increased significantly by 177% YoY in Q3 to Rs. 261.26 million, driven by cross-charged costs from AceVector for transferred employees in legal, finance, and HR functions / Other income declined 31.5% QoQ from Rs. 12.22 million (Q3) to Rs. 8.52 million (Q2), suggesting reduced treasury gains or one-time income normalization / Dependency on single reportable segment (supply chain management SaaS) creates concentration risk with no diversification across verticals

What is the AI Stock Score?

The AI Stock Score is a composite rating from 0-10 generated by analyzing quarterly earnings reports using three leading AI models (Google Gemini, Anthropic Claude, and OpenAI ChatGPT). Each AI independently evaluates financial performance, growth prospects, risks, and market positioning to provide an objective investment perspective.

How should I interpret Buy/Hold/Sell ratings?

Buy (7.0-10.0): Strong fundamentals and positive outlook. Hold (4.0-6.9): Mixed signals, suitable for existing positions. Sell (0-3.9): Deteriorating fundamentals or significant risks. These are AI-generated opinions for informational purposes only, not investment advice.

How is the composite score calculated?

The composite score is the mathematical average of the latest scores from each AI provider. For example, if Gemini rates 7.5, Claude rates 4.5, and ChatGPT rates 6.0, the composite score would be (7.5+4.5+6.0)/3 = 6.0. This multi-AI approach reduces bias from any single model.

How often are scores updated?

Scores are automatically generated within hours of quarterly earnings results being published on NSE. The system monitors earnings announcements 4 times daily and processes new reports immediately. Check the "Last Updated" date at the top of this page for the most recent analysis timestamp.

Is this financial advice?

No. This is AI-generated analysis for informational and educational purposes only. MarketsHost is not a SEBI-registered Research Analyst or Investment Adviser. AI models can produce inaccurate results. Always consult a qualified financial advisor and conduct your own due diligence before making investment decisions.