Instakart Services, the Flipkart-owned logistics company behind Ekart, nearly broke even in the fiscal year ending March 2026 (FY26). Its loss narrowed 98.3% to ₹26 Cr in the fiscal under review, compared to ₹1,508 Cr in FY25.
The brand’s revenue from contracts with customers fell 4.2% to ₹13,194 Cr in FY26, from ₹13,779 Cr in the previous fiscal year. In this, Flipkart itself contributed ₹9,112 Cr, or about 69% of the total operating revenue.
Operationally, logistics, transportation and shipping contributed the most share, approximately 50% to ₹6,419 Cr in the reported year. Revenue from this vertical plunged 39.5% YoY.
Ekart also generates revenue from collection services and warehousing services. Collection services income fell 68% to ₹510 Cr, while warehousing services income rose 44% to ₹2,212 Cr.
Including finance and other income of ₹418 Cr, Instakart’s total income fell 3.9% to ₹13,612 Cr in the year under review.
Founded in 2009 by Sachin Bansal and Binny Bansal as an in-house logistics entity within Flipkart, Ekart was spun off as a separate entity in 2016 to support the fulfillment services not only for Flipkart and Myntra but also for D2C brands, online sellers and retailers.
As of last year, the company claimed to be operating more than 7,000 trucks running daily across the length and breadth of the country, 70 fulfilment centres, 80 sortation facilities and 3500 delivery hubs to ensure timely delivery across 14,000 pin codes.
Earlier in July, Ekart opened its pan-India logistics network to MSMEs, D2C brands, FMCG companies, and enterprises, allowing external businesses to access the logistics infrastructure used by Flipkart.
The logistics arm has already operationalised more than 300 franchise outlets across Surat, Mumbai, Delhi, and Bengaluru, and had plans to expand the network to over 1,000 outlets by the end of 2026.
Magnifying Ekart’s Spending
Ekart’s total expenses for the fiscal dipped by 13% YoY to ₹13,638 Cr in the year under review, while its costs stood at ₹15,673 Cr in FY25. Here is a closer look at where Ekart spent the highest:
- Freight, Handling and Servicing Expenses: The spending under this head fell by 17.1% to ₹9,191 Cr in FY25 from ₹11,093 Cr in the previous financial year. Of the overall expenditure, freight costs comprised 67.4%.
- Employee Benefit Expenses: Employee costs, which include salaries, provident fund, gratuity, among others, shrunk by 24.9% to ₹958 Cr from ₹1,275 Cr in FY25. Further, it accounted for 7% of the overall expenses in FY26.
- Depreciation And Amortisation Expense: These costs increased by 5% to ₹1,456 Cr from ₹1,387 Cr in FY25.
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