Swiggy Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Supply chain and distribution: 47.4% • Food Delivery: 34.0% • Quick-commerce: 16.7%
AI Sector View
AI GENERATEDConsumer Services
Consumer services have a mixed operating backdrop but strong market sponsorship. Foreign tourist arrivals in India rose 6.0% YoY (2026-06), export of services grew 13.0% YoY (2026-06), and headline tourist arrivals were 584000 (Jun/26), though airport passenger traffic was -2.0% YoY (2026-06). Strong FPI inflow of INR 19847 crore over 3 months to 2026-08-31 supports a Buy stance despite some travel softness.
PROS
- Company is almost debt free
- Latest quarter profit grew 135.3% YoY, showing strong momentum
- Operating margins have improved to -0.3% from -72.4%
- Company has delivered good sales growth of 32.7% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.41x)
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (151.2% of PBT)
- Promoter holding has decreased over last 2 years: -94.5pp
- Company has a low return on capital employed of -6.3%
- Company has a low return on equity of -5.8% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ETERNAL | 323.00 | 719.88 | 311706.33 | 0.00 | 92.00 | 268.00 | 20211.00 | 182.00 | 3.29 | 2.94 |
| MEESHO | 216.60 | 70.11 | 100203.94 | 0.00 | -1328.35 | -359.07 | 37128.11 | 1382.83 | -41.16 | -6.05 |
| NYKAA | 343.20 | 383.80 | 98302.60 | 0.00 | 79.76 | 225.95 | 2782.00 | 29.10 | 20.15 | 8.48 |
| SWIGGY | 277.90 | 0.00 | 76709.11 | 0.00 | -791.00 | 33.92 | 6812.00 | 37.31 | -27.59 | -9.56 |
| INDIAMART | 1698.15 | 20.70 | 10213.21 | 3.53 | 172.20 | 12.18 | 414.40 | 11.37 | 28.39 | 31.83 |
| SHIPROCKET | 134.05 | 0.00 | 9753.18 | 0.00 | -137.14 | — | 5920.87 | — | -3.02 | -1.84 |
| FIRSTCRY | 168.60 | 69.07 | 8802.45 | 0.00 | -43.95 | 33.91 | 2106.23 | 13.08 | -0.20 | 2.83 |
| IBULLSLTD | 25.89 | 14.41 | 6038.08 | 0.00 | 1410.20 | 53516.67 | 3594.50 | — | 0.00 | 42.82 |
| MSTCLTD | 738.05 | 22.18 | 5195.87 | 2.13 | 58.22 | 37.50 | 94.24 | 21.71 | 30.28 | 61.36 |
| ISFT | 79.38 | 9.44 | 129.48 | 0.00 | 4.54 | 10.85 | 139.63 | 8.25 | 6.12 | 3.50 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,548 | 1,663 | 1,775 | 1,953 | 2,146 | 2,298 | 1,711 | 2,693 | 3,000 | 3,166 | 2,194 | 2,462 | |
| 2,211 | 2,168 | 2,320 | 2,546 | 2,742 | 3,061 | 1,842 | 3,787 | 3,963 | 4,141 | 2,137 | 2,479 | |
| Operating Profit | -663 | -505 | -545 | -593 | -596 | -763 | -131 | -1,094 | -963 | -975 | 57 | -17 |
| OPM % | -42.85% | -30.34% | -30.70% | -30.36% | -27.77% | -33.20% | -7.66% | -40.62% | -32.10% | -30.80% | 2.60% | -0.69% |
| 107 | 231 | 64 | 127 | 136 | 166 | 149 | 131 | 109 | 109 | 288 | 367 | |
| Interest | 6 | 6 | 5 | 5 | 5 | 4 | 4 | 4 | 4 | 7 | 6 | 5 |
| Depreciation | 29 | 29 | 29 | 26 | 26 | 25 | 24 | 24 | 23 | 22 | 73 | 92 |
| Profit before Tax | -591 | -309 | -515 | -497 | -491 | -626 | -10 | -991 | -881 | -895 | 266 | 350 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% |
| Net Profit | -591 | -309 | -515 | -497 | -491 | -626 | -10 | -991 | -881 | -895 | 266 | 350 |
| -2.70 | -1.41 | -2.35 | -2.25 | -2.20 | -2.73 | -0.04 | -4.18 | -3.70 | -3.66 | 1.00 | 1.31 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 133 | 417 | 1,122 | 3,288 | 2,008 | 3,557 | 4,653 | 6,372 | 6,667 | 8,258 | 10,822 | |
| 344 | 827 | 3,614 | 6,937 | 3,034 | 6,576 | 8,730 | 8,662 | 7,304 | 8,288 | 12,720 | |
| Operating Profit | -211 | -410 | -2,493 | -3,650 | -1,026 | -3,019 | -4,077 | -2,290 | -637 | -30 | -1,898 |
| OPM % | -158.62% | -98.25% | -222.22% | -111.02% | -51.09% | -84.88% | -87.61% | -35.94% | -9.55% | -0.36% | -17.54% |
| 13 | 40 | 170 | 159 | -11 | -584 | 475 | 542 | 554 | 609 | 873 | |
| Interest | 2 | 8 | 5 | 82 | 74 | 43 | 28 | 22 | 18 | 21 | 22 |
| Depreciation | 4 | 7 | 18 | 195 | 203 | 121 | 128 | 117 | 100 | 142 | 210 |
| Profit before Tax | -205 | -385 | -2,346 | -3,768 | -1,314 | -3,768 | -3,758 | -1,888 | -201 | 416 | -1,160 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | -0.00% |
| Net Profit | -205 | -385 | -2,346 | -3,768 | -1,314 | -3,768 | -3,758 | -1,888 | -201 | 416 | -1,160 |
| EPS | -20105.00 | -37713.00 | -229750.00 | -368991.00 | -80.00 | -229.00 | -17.38 | -628.09 | -0.88 | 1.59 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 83%
- 5 Years:
- 33%
- 3 Years:
- 21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -34%
RETURN ON EQUITY
- 10 Years:
- -43%
- 5 Years:
- -3%
- 3 Years:
- -6%
- Last Year:
- 3%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 1 | 3 | 3 | 229 | 261 | |
| 137 | 913 | 5,653 | 2,705 | 1,737 | -3,559 | -6,688 | -8,056 | 9,814 | 18,473 | |
| 36 | 16 | 0 | 771 | 460 | 259 | 184 | 189 | 131 | 207 | |
| Trade Payables | 24 | 109 | 454 | 263 | 314 | 739 | 704 | 652 | 1,354 | 545 |
| 43 | 43 | 287 | 749 | 770 | 16,766 | 17,275 | 18,016 | 3,217 | 4,533 | |
| Total Liabilities | 240 | 1,081 | 6,394 | 4,489 | 3,281 | 14,206 | 11,478 | 10,805 | 14,745 | 24,019 |
| 12 | 29 | 91 | 1,124 | 550 | 409 | 894 | 754 | 666 | 1,549 | |
| Capital Work in Progress | 0 | 1 | 18 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 182 | 873 | 5,479 | 2,226 | 1,387 | 10,348 | 6,131 | 5,568 | 5,820 | 10,295 | |
| 0 | 0 | 4 | 24 | 6 | 5 | 5 | 6 | 1 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 235 | 377 | 213 | |
| Cash & Bank | 26 | 120 | 281 | 559 | 684 | 982 | 391 | 787 | 2,621 | 3,100 |
| 20 | 58 | 520 | 556 | 654 | 2,462 | 4,056 | 3,455 | 5,260 | 8,862 | |
| Total Assets | 240 | 1,081 | 6,394 | 4,489 | 3,281 | 14,206 | 11,478 | 10,805 | 14,745 | 24,019 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -187 | -354 | -2,318 | -3,685 | -661 | -2,420 | -3,839 | -1,409 | -1,444 | -2,845 | |
| Cash from Investing | 17 | -670 | -4,658 | 2,984 | 772 | -10,728 | 3,340 | 1,852 | -2,607 | -6,298 |
| Cash from Financing | 193 | 1,120 | 7,072 | 914 | 10 | 13,670 | -60 | -46 | 4,347 | 9,892 |
| 22 | 93 | 86 | 175 | 126 | 470 | -584 | 397 | 296 | 749 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Swiggy Limited has informed the Exchange about the sale/disposal of stake in step down wholly owned subsidiary of the Company.
2026-09-03 - Swiggy Limited has informed the Exchange about Schedules of meet
2026-08-18 - Swiggy Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 18, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-06 - Swiggy Limited has informed the Exchange regarding a press release dated August 06, 2026, titled "Swiggy Eyes INR 10,000 Cr. Adj. EBITDA by FY31, Backed by Affordability in Food and Differentiated Instamart Strategy".
2026-08-06 - Swiggy Limited has informed the Exchange about Investor Presentation
2026-08-05 - Swiggy Limited has informed the Exchange about Transcript
2026-07-31 - Swiggy Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results for the quarter ended June 30, 2026
2026-07-31 - Swiggy Limited has informed the Exchange about Link of Recording
2026-07-30 - Monitoring Agency Report for the quarter ended June 30, 2026
News
Recent coverage and analyst commentary for SWIGGY
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Swiggy Ltd.
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