Unicommerce Shares Dip Over 9% To Hit Fresh All-Time Low

As the broader market remains under the grip of bearish sentiment, shares of e-commerce-focused SaaS major Unicommerce dipped over 9.13% to hit its fresh all-time low of INR 97.00 apiece during early trading hours on the BSE today (March 3).

Even at 12:11 PM, the stock showed only a marginal recovery, trading 8.48% lower at INR 97.85 on the BSE. At this point, the company’s market capitalisation stood at INR 1,002.32 Cr, while its market volume remained at 11.3 Lakh.

Extending its losses for the fourth consecutive session, the stock has dipped 36.11% in the last month. Over the last six months, it has performed even worse, delivering a negative return of 52.43% at the current market price.

The slump in the stock comes at a time when fear in Indian bourses is at an all-time high. Notably, February closed with a significant loss of 6.2% for the Nifty50, marking its fifth consecutive month in the red.

The 32 new-age stocks under Inc42’s radar have also been witnessing a bloodbath in recent times. Notably, the market capitalisation of these 32 stocks slumped to $73.06 Bn at the end of February from $102.11 Bn at the beginning of December 2024.

Unicommerce shares are at a 59.56% downside at the previous closing price from its 52-week high price of INR 264 reported on August 20. 

Unicommerce shares are on downside despite the company witnessing a rise in net profit by 62.1% to INR 6.29 Cr in the third quarter of the ongoing financial year (FY25) from INR 3.88 Cr in the year-ago quarter. Even sequentially also, profit increased 40.7% from INR 4.47 Cr. 

This jump in bottom line came on the back of an over 26% jump in revenue from contracts with customers to INR 32.74 Cr from INR 25.96 Cr in Q3 FY24. 

Reflecting its expansion outlook, the company last month even outlined its four-pronged strategy to drive growth in the coming quarters, with a focus on improving profitability.

In a post earning call, its managing director and CEO Kapil Makhija said that Unicommerce’s next phase of growth will be driven by ecommerce expansion in the country, an uptick in the total addressable market from complementary offerings, client acquisition, and an extended product suite.

On the acquisition front, Unicommerce acquired a nearly 43% stake in ecommerce shipping solutions provider Shipway for INR 68.4 Cr last November. 

It is pertinent to note that Unicommerce eSolutions Limited made its public debut on August 13 2024, listing its shares on both BSE and NSE. The shares were listed at INR 230 on BSE and INR 235 on NSE.