Shadowfax Traders

Delhi, India Founded: 2014 • Age: 12 yrs Listed
High frequency trading services provider
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About Shadowfax Traders

Shadowfax Traders is a publicly listed company based in Delhi (India) founded in 2014 by Akshay Jain. High frequency trading services provider. Shadowfax Traders has raised $32.56 million across 4 funding rounds from investors including International Finance Corporation, Mirae Asset and Qualcomm Ventures. The company has 3,055 employees. Its Indian entity Shadowfax Technologies Limited reported revenue of ₹4,239 Cr. Its focus areas include Business Services, IT Services, Application Development and Software Development.

Company details

Shadowfax Traders was founded in 2014 in Delhi, India, as a provider of low-latency, ultra-high-frequency automated trading services. Operations focus on equity derivatives and currency derivatives markets. Algorithm-based trading solutions are also offered to support automated strategies. The company serves clients in the financial trading sector through its domain, shadowfaxtraders.com.

Operational Areas
Technology → IT Services & Operations
Key Metrics
  • Market Cap
    ₹16,214 Cr

    SHADOWFAX · NSE

  • Share Price
    ₹274.05

    -0.80% today

  • Revenue
    ₹4,202 Cr

    FY 2025-26 · +69.1% YoY

  • EBITDA
    ₹221 Cr

    Margin 5.2%

  • Net Profit
    ₹112 Cr

    FY 2025-26 · +1637.3% YoY

  • P/E (TTM)
    94.6x

    P/B 9.1x

  • ROE
    6.7%

    ROCE 6.9%

  • Debt / Equity
    0.16

    Interest cover 27.9x

  • Total Equity Funding
    $32.56M (USD)

    in 4 rounds

  • Latest Funding Round
    $19.92M (USD), Series B

    Aug 2018

  • Investors
    International Finance Corporation

    & 11 more

  • Employee Count
    3,055

Funding Insights of Shadowfax Traders

Shadowfax Traders has successfully raised a total of $32.56M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $19.92 million completed in August 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.

  • Total Funding $32.56M
  • Total Rounds 4
  • Last Round Series B — $19.92M
  • First Round $220,358

    (Jul 2015)

  • Investors Count 12

All 4 funding rounds of Shadowfax Traders with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Aug 2018$19.92MSeries B–NGP Capital, IFC
Qualcomm Ventures, Mirae Asset
Dec 2016$4.86MSeries A–Eight Roads Ventures
–
Aug 2015$7.56MSeries A–Eight Roads Ventures
–
Jul 2015$220,358Angel Round–Kunal Bahl, Zishaan Hayath
Rohit Bansal, Nitin Bahl
Valuation history

12 investors in total: 5 institutional and 7 angel.

Investors in Shadowfax Traders

Shadowfax Traders has secured backing from 12 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include International Finance Corporation, Mirae Asset and Qualcomm Ventures.

All
Venture Fund
Institutional
Angel
InvestorDescriptionFounded YearDomainLocation
NGP Capital
Venture capital firm focused on B2B companies
ngpcap.comPalo Alto, United States
Qualcomm Ventures
Venture capital investing in technology sectors such as AI and automotive.
2000qualcommventures.comSan Diego, United States
Mirae Asset
Mirae Asset is engaged in mutual fund and asset management services.
1997miraeassetmf.co.inMumbai, India
Eight Roads Ventures
Venture capital investment and global platform support for startups.
2008eightroads.comLondon, United Kingdom
International Finance Corporation
IFC is focused on private sector development in emerging markets.
1956ifc.org

Kunal Bahl

Co-founder of Snapdeal, Titan Capital, active angel investor in Indian startups
unknown_374f935e8fe34582a

Rohit Bansal

Co-founder of Snapdeal, active angel investor in Indian startups
unknown_a30d72c0dd7a4e41a

Nitin Bahl

unknown_673fe04245bd46b8b

Shashwat Diesh

Angel investor, ex-entrepreneur, focused on early-stage Indian startups
unknown_0d9a13c7fd034eada

Prashant Malik

Angel investor, ex-Facebook engineer, co-creator of Apache Cassandra
unknown_9e67ab1f84e4423d9
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Investor details for Shadowfax Traders

The complete investor list, round-by-round participation and investor portfolios require an active premium plan.

  • Complete investor list
  • Round participation
  • Investor portfolios
  • Co-investor network

Verified entity values are shown only after access is granted.

Board of directors of Shadowfax Technologies Limited (Shadowfax Traders)

Shadowfax Technologies Limited is the primary company behind Shadowfax Traders. The board of Shadowfax Technologies Limited currently have 9 directors; the longest-serving is Vaibhav Khandelwal, appointed in 2015. 15 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Vaibhav Khandelwal
DIN 07155413
Whole-time director21 Apr 201511 yrs 6 moShadowfax Technologies Limited
Bijou Kurien
DIN 01802995
Director01 Jan 20251 yr 9 moShadowfax Technologies Limited
Ruchira Shukla
DIN 03517228
Director21 Jan 20251 yr 9 moShadowfax Technologies Limited
Pirojshaw Aspi Sarkari
DIN 00820860
Director21 Jan 20251 yr 9 moShadowfax Technologies Limited
Abhishek Bansal
DIN 07155421
CEO21 Apr 20251 yr 6 moShadowfax Technologies Limited
Kollurjairam Praveen Kumar Naidu
DIN 06847140
CFO21 Apr 20251 yr 6 moShadowfax Technologies Limited
Gaurav Jaithlia
DIN 09478517
Whole-time director23 Jun 20251 yr 4 moShadowfax Technologies Limited
Dinkar Gupta
DIN 07674724
Director23 Jun 20251 yr 4 moShadowfax Technologies Limited
Praharsh Chandra
DIN 11165888
Whole-time director23 Jun 20251 yr 4 moShadowfax Technologies Limited

People of Shadowfax Traders

1 people are tracked at Shadowfax Traders (1 in leadership); the tracked headcount is 3,055.

NameRoleGroup
Akshay Jain
FounderLeadership
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Complete people profiles for Shadowfax Traders

Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.

  • Full employee list
  • Team structure
  • Board tenure
  • Professional contacts

Verified entity values are shown only after access is granted.

IPO & Listings of Shadowfax Traders

Shadowfax Traders is a publicly listed company on the NSE with ticker symbol SHADOWFAX in India. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: SHADOWFAX
  • Listed entityShadowfax Technologies Limited

Financials of Shadowfax Traders

Exchange-reported figures of Shadowfax Technologies Limited, the listed company behind Shadowfax Traders (NSE: SHADOWFAX).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹4,202 Cr
+69.1% YoY
EBITDA
₹221 Cr
+249.5% YoY
Profit After Tax
₹112 Cr
+1637.3% YoY
Net Worth
₹1,745 Cr
+164.2% YoY
Total Assets
₹2,012 Cr
+146.6% YoY
Total Debt
₹247 Cr
+86.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Income statement
Revenue4,2022,4851,8851,415
Revenue growth+69.1%+31.9%+33.2%-
EBITDA22163.1818.69(107)
EBITDA margin+5.3%+2.5%+1.0%-7.6%
Profit before tax1116.06(11.89)(143)
Net profit1126.43(11.89)(143)
Net profit margin+2.7%+0.3%-0.6%-10.1%
EPS (₹)1.920.42(495.08)(6,174.81)
Balance sheet
Total assets2,012816471251
Net worth1,745660422176
Total debt24713240.3366.70
Cash & bank67919110386.18
Net working capital462121(8.05)69.16
Cash flow
Cash from operations35049.86132(72.83)
Cash from investing(1,091)(119)(311)(39.80)
Cash from financing86313020089.61
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,3581,2371,160982824712701
Revenue growth (YoY)+64.9%+73.6%+65.5%----
Other income21.0615.516.485.958.186.945.68
EBITDA91.7781.0566.4639.1525.2212.0620.84
EBITDA margin+6.8%+6.6%+5.7%+4.0%+3.1%+1.7%+3.0%
Depreciation39.7635.2532.2627.9721.8824.3616.60
Interest7.676.455.824.113.504.883.46
Profit before tax65.4054.8634.8613.028.02(10.24)6.46
Tax0.00(0.97)0.000.000.00(0.37)0.00
Net profit65.4055.8334.8613.028.02(9.87)6.46
EPS (₹)1.100.940.670.250.15(0.20)0.13
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue4,0802,4671,8851,415991464323
Revenue growth+65.4%+30.9%+33.2%+42.8%+113.6%+43.7%-
EBITDA21462.1118.68(107)(152)(145)(89.72)
EBITDA margin+5.2%+2.5%+1.0%-7.6%-15.4%-31.3%-27.8%
Profit before tax1156.21(11.90)(143)(176)(133)(86.55)
Net profit1156.21(11.90)(149)(180)(155)(94.58)
Net profit margin+2.8%+0.3%-0.6%-10.5%-18.2%-33.4%-29.3%
EPS (₹)1.980.41(495.08)(6,174.81)(7,624.03)(5,777.22)(3,769.51)
Balance sheet
Total assets1,998796471246263322415
Net worth1,749660422176157301410
Total debt23412240.3360.7393.555.531.14
Cash & bank67318410386.1811183.9173.66
Net working capital473128(8.05)64.7710281.1290.13
Cash flow
Cash from operations34250.09132(72.55)(132)(113)(106)
Cash from investing(1,087)(128)(311)(40.03)130122(244)
Cash from financing87013220089.5671.60(0.14)367
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,3241,2061,128950796694701
Revenue growth (YoY)+66.3%+73.6%+61.0%----
Other income21.0315.926.465.988.246.965.68
Total expenses1,2341,1271,063915770683680
EBITDA89.8678.6765.0635.3726.1011.0120.85
EBITDA margin+6.8%+6.5%+5.8%+3.7%+3.3%+1.6%+3.0%
Depreciation37.4333.1929.6723.6521.7323.2816.61
Interest7.266.135.323.473.474.773.46
Profit before tax66.2055.2736.5314.239.14(10.08)6.46
Tax0.000.000.000.000.000.000.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 24 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,3581,2371,160982824712701
Revenue growth (YoY)+64.9%+73.6%+65.5%----
Other income21.0615.516.485.958.186.945.68
EBITDA91.7781.0566.4639.1525.2212.0620.84
EBITDA margin+6.8%+6.6%+5.7%+4.0%+3.1%+1.7%+3.0%
Depreciation39.7635.2532.2627.9721.8824.3616.60
Interest7.676.455.824.113.504.883.46
Profit before tax65.4054.8634.8613.028.02(10.24)6.46
Tax0.00(0.97)0.000.000.00(0.37)0.00
Net profit65.4055.8334.8613.028.02(9.87)6.46
EPS (₹)1.100.940.670.250.15(0.20)0.13
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Revenue4,2022,4851,8851,415
Revenue growth+69.1%+31.9%+33.2%-
Other income36.1529.5211.667.77
Total expenses3,9822,4221,8661,523
Employee cost392266212214
EBITDA22163.1818.69(107)
EBITDA margin+5.3%+2.5%+1.0%-7.6%
Depreciation11765.2427.7624.00
Interest28.8621.4014.4819.02
Profit before tax1116.06(11.89)(143)
Tax(0.97)(0.37)0.000.00
Net profit1126.43(11.89)(143)
Net profit margin+2.7%+0.3%-0.6%-10.1%
EPS (₹)1.920.42(495.08)(6,174.81)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Equity & liabilities
Share capital5824122495.11
Reserves & surplus1,163248172171
Shareholders' funds (net worth)1,745660422176
Minority interest0.000.000.000.00
Secured loans0.286.4631.5060.73
Unsecured loans2471268.835.97
Total debt24713240.3366.70
Total liabilities2,012816471251
Assets
Gross block858489204144
Net block58832911783.32
Capital work in progress0.000.000.000.00
Investments35432931259.63
Inventories0.000.000.000.00
Sundry debtors514329184157
Cash & bank balances67919110386.18
Loans & advances91.1443.3620.6318.02
Total current assets1,284564307261
Total current liabilities821443315192
Net working capital462121(8.05)69.16
Total assets2,012816471251
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Opening cash16210180.58104
Net cash from operating activities35049.86132(72.83)
Net cash from investing activities(1,091)(119)(311)(39.80)
Net cash from financing activities86313020089.61
Net change in cash12260.9820.42(23.03)
Closing cash67919110386.18
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Growth
Sales growth+69.1%+31.9%+33.2%-
EBITDA growth+249.5%+238.0%+117.4%-
PBT growth+1727.4%+9998.0%+91.7%+9997.0%
Net income growth+1637.3%+154.1%+91.7%-
Revenue CAGR (3Y)+43.7%---
Profitability & leverage
Net income margin+2.7%+0.3%-0.6%-10.1%
Return on capital employed+6.9%+2.8%0.0%0.0%
Return on net worth+6.7%+1.1%0.0%0.0%
Debt / equity0.160.160.180.38
Long-term debt / equity0.110.090.060.16
Interest cover27.90-1,038.83-159.65-14.47
Efficiency & per share
Fixed asset turnover6.247.1810.859.84
Inventory turnover0.000.000.000.00
Debtors turnover9.979.6911.079.01
EPS (₹)1.920.42(495.08)(6,174.81)
Dividend per share (₹)0.000.000.000.00
Book value per share (₹)29.9726.357,196.087,421.43
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue1,3241,2061,128950796694701
Revenue growth (YoY)+66.3%+73.6%+61.0%----
Other income21.0315.926.465.988.246.965.68
Total expenses1,2341,1271,063915770683680
EBITDA89.8678.6765.0635.3726.1011.0120.85
EBITDA margin+6.8%+6.5%+5.8%+3.7%+3.3%+1.6%+3.0%
Depreciation37.4333.1929.6723.6521.7323.2816.61
Interest7.266.135.323.473.474.773.46
Profit before tax66.2055.2736.5314.239.14(10.08)6.46
Tax0.000.000.000.000.000.000.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue4,0802,4671,8851,415991464323
Revenue growth+65.4%+30.9%+33.2%+42.8%+113.6%+43.7%-
Other income36.6129.5411.667.776.7023.769.58
Total expenses3,8662,4051,8661,5231,143609413
Employee cost35725921221417410165.40
EBITDA21462.1118.68(107)(152)(145)(89.72)
EBITDA margin+5.2%+2.5%+1.0%-7.6%-15.4%-31.3%-27.8%
Depreciation10864.1627.7624.0021.049.634.86
Interest27.1721.2814.4819.029.292.011.55
Profit before tax1156.21(11.90)(143)(176)(133)(86.55)
Tax0.000.000.000.000.000.000.00
Net profit1156.21(11.90)(149)(180)(155)(94.58)
Net profit margin+2.8%+0.3%-0.6%-10.5%-18.2%-33.4%-29.3%
EPS (₹)1.980.41(495.08)(6,174.81)(7,624.03)(5,777.22)(3,769.51)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital5824122495.114.864.864.86
Reserves & surplus1,16624817282482.23296405
Shareholders' funds (net worth)1,749660422176157301410
Secured loans0.005.7431.5025.7640.273.160.00
Unsecured loans2341178.8334.9753.282.371.14
Total debt23412240.3360.7393.555.531.14
Total liabilities1,998796471246263322415
Assets
Gross block76941020415010271.5430.92
Net block52026211783.3159.6550.2720.13
Capital work in progress0.000.000.000.000.000.000.00
Investments40537431259.6358.08169290
Inventories0.000.000.000.000.000.000.00
Sundry debtors49931218415769.3751.7143.53
Cash & bank balances67318410386.1811183.9173.66
Loans & advances91.5045.3620.6318.0211162.4226.20
Total current assets1,263541307261291198143
Total current liabilities79041331519618911753.26
Net working capital473128(8.05)64.7710281.1290.13
Total assets1,998796471246263322415
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash15410180.5810434.6025.778.49
Net cash from operating activities34250.09132(72.55)(132)(113)(106)
Net cash from investing activities(1,087)(128)(311)(40.03)130122(244)
Net cash from financing activities87013220089.5671.60(0.14)367
Net change in cash12653.3920.42(23.03)69.008.8317.28
Closing cash67318410386.1811183.9173.66
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+65.4%+30.9%+33.2%+42.8%+113.6%+43.7%-
EBITDA growth+244.5%+232.5%+117.4%+29.6%-5.2%-61.6%-
PBT growth+1754.8%+9998.0%+91.7%+19.0%-32.5%-53.6%+9997.0%
Net income growth+1754.8%+152.2%+92.0%+17.4%-16.6%-63.6%-
Revenue CAGR (3Y)+42.3%+35.6%+59.6%+63.7%---
EBITDA CAGR (3Y)---+6.2%---
Profitability & leverage
Net income margin+2.8%+0.3%-0.6%-10.1%-17.8%-28.7%-26.8%
Return on capital employed+7.1%+2.9%0.0%-48.6%0.0%0.0%0.0%
Return on net worth+6.9%+1.0%0.0%-88.1%0.0%0.0%0.0%
Debt / equity0.150.150.170.460.220.010.00
Long-term debt / equity0.100.080.060.200.090.000.00
Interest cover25.70-1,038.05-159.47-14.47-5.35-1.30-1.64
Efficiency & per share
Fixed asset turnover6.928.0410.6711.2511.429.0510.44
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover10.079.9611.0712.5016.369.747.42
EPS (₹)1.980.41(495.08)(6,174.81)(7,624.03)(5,777.22)(3,769.51)
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)30.0326.347,196.0835,681.303,569.6112,865.2617,631.23

Timeline of Shadowfax Traders

3 dated milestones of Shadowfax Traders across 4 years, from founding to its latest funding, stage changes and deals.

  1. Founded Shadowfax Traders is founded.
  2. Funding First funding round of $220K.
  3. Funding Latest funding round, Series B, of $19.9M.
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Frequently Asked Questions about Shadowfax Traders

Shadowfax Traders was founded in 2014 and raised its 1st funding round 1 year after it was founded.

Shadowfax Traders is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.

Shadowfax Traders is a funded company, having raised a total of $32.56M across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $220.36K, raised on Jul 2015.

Shadowfax Traders has 3,055 employees.

The primary company behind Shadowfax Traders, Shadowfax Technologies Limited, reported revenue of ₹4,239 Cr for FY 2026, up 69% year on year.

Shadowfax Traders was founded in 2014 in Delhi, India, as a provider of low-latency, ultra-high-frequency automated trading services. Operations focus on equity derivatives and currency derivatives markets. Algorithm-based trading solutions are also offered to support automated strategies. The company serves clients in the financial trading sector through its domain, shadowfaxtraders.com.

Yes, Shadowfax Traders is publicly traded on NSE under the ticker symbol SHADOWFAX.

Shadowfax Traders has 12 investors. Key investors include International Finance Corporation, Mirae Asset, Qualcomm Ventures, Eight Roads Ventures, and NGP Capital.

Shadowfax Traders operates through Shadowfax Technologies Limited.

The legal entities of Shadowfax Traders currently have 10 directors, including Abhishek Bansal, Vaibhav Khandelwal, Ruchira Shukla and others.

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