Swiggy Ltd

₹ 191 0.88%

06 Nov - close price

About

Founded in 2014, Swiggy Ltd is a new-age, consumer-first technology company offering users an easy-to-use convenience platform, accessible through a unified app.^[1]

Key Points

Business Model:^[1]
Swiggy runs a hyperlocal commerce platform covering food delivery, quick commerce, dining out and events, along with B2B supply chain and distribution services.
Its consumer businesses largely follow a marketplace model, connecting customers
with restaurants and merchants. Company's revenue comes from partner commissions, advertising, user and platform fees, and subscriptions. The B2B business also
earns from the sale of goods and
supply chain services.

Website BSE NSE F&O

Market Cap ₹ 52,769 Cr.
Current Price ₹ 191
High / Low ₹ 422 / 174
Stock P/E
Book Value ₹ 61.5
Dividend Yield 0.00 %
ROCE -24.1 %
ROE -29.1 %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter

Cons

Stock is trading at 3.11 times its book value
Company has low interest coverage ratio.
Debtor days have increased from 51.5 to 64.1 days.
Working capital days have increased from 29.1 days to 65.5 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Services Retailing E-Retail/ E-Commerce

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 Nifty Midcap 100 Nifty Midcap 50 Nifty 200 BSE Consumer Discretionary Nifty Midcap Liquid 15 BSE 150 MidCap Index BSE 250 LargeMidCap Index BSE 400 MidSmallCap Index Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 Nifty Midcap 150 Nifty MidSmallcap 400 Nifty Midcap Select Nifty India Digital Index Nifty Total Market Nifty500 Shariah BSE Internet Economy BSE 200 Equal Weight BSE Premium Consumption NIFTY Mobility Nifty Non-Cyclical Consumer Nifty Transportation & Logistics Nifty MidSmall India Consumption Nifty India New Age Consumption Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted BSE Select IPO BSE India 150 BSE 1000 Nifty India FPI 150 Nifty India Internet Nifty MidSmallcap400 50:50

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	2,763	3,049	3,046	3,222	3,601	3,992	4,410	4,961	5,561	6,148	6,383	6,812	7,571
YoY Sales growth				+35%	+30%	+31%	+45%	+54%	+54%	+54%	+45%	+37%	+36%
	3,387	3,575	3,536	3,766	4,155	4,718	5,374	5,916	6,360	6,931	7,081	7,463	8,343
Operating Profit	-624	-526	-490	-544	-554	-726	-964	-955	-799	-783	-698	-651	-772
OPM %	-23%	-17%	-16%	-17%	-15%	-18%	-22%	-19%	-14%	-13%	-11%	-10%	-10%
	87	78	73	75	82	107	121	87	59	86	266	211	212
Interest	15	18	20	20	23	26	32	41	48	55	56	53	54
Depreciation	105	108	117	122	131	154	206	288	304	313	312	298	308
Profit before tax	-657	-574	-555	-611	-626	-799	-1,081	-1,197	-1,092	-1,065	-800	-791	-922
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-657	-574	-555	-611	-626	-799	-1,081	-1,197	-1,092	-1,065	-800	-791	-922
EPS in Rs					-62.75	-3.57	-4.73	-4.80	-4.38	-3.86	-2.90	-2.87	-3.34
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,468	2,547	5,705	8,265	11,247	15,227	23,053	26,914
Sales growth		-27%	+124%	+45%	+36%	+35%	+51%	+42%
	7,292	3,843	9,355	12,538	13,447	18,015	26,288	29,818
Operating Profit	-3,824	-1,296	-3,650	-4,273	-2,199	-2,788	-3,235	-2,904
OPM %	-110%	-51%	-64%	-52%	-20%	-18%	-14%	-11%
	218	-19	239	438	341	384	498	775
Interest	85	75	48	58	71	101	200	218
Depreciation	217	221	170	286	421	612	1,217	1,231
Profit before tax	-3,908	-1,612	-3,629	-4,179	-2,350	-3,117	-4,154	-3,578
Tax %	0%	0%	0%	0%	0%	0%	0%
	-3,920	-1,617	-3,629	-4,179	-2,350	-3,117	-4,154	-3,578
EPS in Rs						-13.63	-15.05	-12.97
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	55%
3 Years:	41%
TTM:	42%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	0%
TTM:	15%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	-52%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	-29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	0.88	0.01	0.86	3	3	229	261	262
Reserves	2,966	1,736	-3,296	-6,509	-7,785	9,991	18,053	16,708
	89	93	16,071	16,162	16,437	1,702	2,551	2,514
	1,346	1,086	1,637	1,624	1,874	3,283	4,372	5,954
Total Liabilities	4,402	2,915	14,412	11,281	10,529	15,205	25,237	25,438
	1,332	747	801	1,505	2,041	3,631	4,558	4,174
CWIP	9	0	0	0	0	0	0	0
Investments	1,879	925	10,348	6,541	5,171	2,677	6,034	6,074
	1,182	1,243	3,263	3,235	3,317	8,897	14,645	15,190
Total Assets	4,402	2,915	14,412	11,281	10,529	15,205	25,237	25,438

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-3,841	-1,175	-3,900	-4,060	-1,313	-2,169	-2,898
	3,195	1,282	-9,160	3,968	1,472	-1,372	-4,983
	849	14	13,634	-172	-123	3,903	9,397
Net Cash Flow	202	120	574	-264	37	362	1,516
Free Cash Flow	-4,175	-915	-4,128	-4,217	-1,657	-2,912	-3,809
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	99%	91%	105%	94%	60%	79%	89%

Ratios

Consolidated / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	13	24	71	47	31	59	64
Inventory Days	31	10	4	1	4	3	3
Days Payable	311	223	154	94	70	111	83
Cash Conversion Cycle	-268	-189	-79	-46	-35	-48	-16
Working Capital Days	-22	-41	18	18	0	21	66
ROCE %		-57%	-48%	-37%	-24%	-29%	-24%

Insights

In beta

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Food Delivery Average Monthly Transacting Restaurant Partners
Thousand

xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
x.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x.xx	x.xx	x.xx	x.xx	x.xx
x.xx	x.xx	x.xx	x.xx	xx.xx
xxx	xxx	xxx	xxx	xxx
xxx	xxx	xxx

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Food Delivery Average Monthly Transacting Users (MTU)
Million

Platform Average Monthly Transacting Users (MTU)
Million

Platform Frequency (Orders per User per Month)
Orders per MTU per month

Quick Commerce Average Monthly Transacting Users (MTU)
Million

Quick Commerce Average Order Value (AOV)
INR per order

Quick Commerce Active Dark Stores
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

11 Recently

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	6.19%	4.90%	7.36%	12.23%	16.07%	14.59%	13.96%	8.86%
	7.75%	9.33%	13.53%	15.95%	22.54%	25.45%	27.38%	34.49%
	86.07%	85.77%	71.38%	64.93%	55.47%	54.39%	53.57%	51.67%
	0.00%	0.00%	7.72%	6.88%	5.94%	5.59%	5.08%	4.98%
No. of Shareholders	4,23,592	5,04,712	5,13,632	5,22,922	5,35,024	5,36,096	5,70,439	5,78,707

	Mar 2025	Mar 2026	Sep 2026
	4.90%	14.59%	8.86%
	9.33%	25.45%	34.49%
	85.77%	54.39%	51.67%
	0.00%	5.59%	4.98%
No. of Shareholders	5,04,712	5,36,096	5,78,707

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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