SWIGGY - Swiggy
📢 Recent Corporate Announcements
Swiggy Limited has scheduled its participation in the J.P. Morgan India Forum on March 10, 2026. The event will be held physically in Singapore and will include one-on-one and group meetings with institutional investors. This disclosure is a routine filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Such meetings are standard practice for listed entities to maintain engagement with the global investment community.
- Participation in the J.P. Morgan India Forum scheduled for March 10, 2026.
- The engagement will involve one-on-one and group meetings with institutional investors.
- The venue for the investor meet is physically located in Singapore.
- The schedule is subject to change based on exigencies from either the company or investors.
Swiggy Limited has announced its participation in two high-profile institutional investor conferences scheduled for late February 2026 in Mumbai. The company will attend the Kotak: Chasing Growth 2026 Conference on February 23-24 and the IIFL 17th Enterprising India Global Investors' Conference on February 25. These meetings will involve one-on-one and group interactions with institutional investors to discuss the company's performance and outlook. This is a routine regulatory disclosure under SEBI LODR Regulations.
- Scheduled participation in Kotak: Chasing Growth 2026 Conference on February 23 and 24, 2026.
- Participation in IIFL's 17th Enterprising India Global Investors' Conference on February 25, 2026.
- Meetings will be conducted in physical mode in Mumbai through one-on-one and group formats.
- Disclosure submitted in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Swiggy reported a robust 20.5% YoY growth in Food Delivery Gross Order Value (GOV) for Q3 FY26, slightly exceeding its guidance of 18-20%. The company has more than doubled its warehousing capacity over the last four quarters to optimize middle-mile logistics and support expansion into Tier 2 and 3 towns. Management emphasized a disciplined approach to Quick Commerce (Instamart), focusing on structural margin improvements and brand monetization rather than inefficient discounting. With a cash balance of approximately $2 billion and domestic shareholding at 47%, the company is nearing the majority threshold required for IOCC status.
- Food Delivery GOV grew 20.5% YoY while Monthly Transacting Users (MTUs) increased by 22%
- Warehousing capacity more than doubled in the last 4 quarters to improve supply chain and replenishment speeds
- Domestic shareholding reached approximately 47%, with plans to convert to an IOCC structure upon reaching majority
- Working capital infusion limited to INR 130 crores over the last two quarters despite an 18% rise in net order value
- Management maintained Food Delivery growth guidance at 18-20% but signaled confidence in hitting the upper end
Swiggy Limited has scheduled participation in two major institutional investor conferences in Mumbai. The company will attend the Nuvama India Conference on February 9, 2026, followed by Axis Capital's Flagship India Conference on February 10, 2026. These meetings will involve one-on-one or group interactions with institutional investors and analysts. Such engagements are part of the company's regular investor relations activities to provide updates on business performance and strategy.
- Participation in Nuvama India Conference 2026 scheduled for February 9, 2026.
- Attendance at Axis Capital's Flagship India Conference on February 10, 2026.
- Meetings will be held physically in Mumbai in one-on-one or group formats.
- Disclosure made under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements.
Swiggy Limited has released the audio recording of its conference call held on January 29, 2026, for analysts and institutional investors. This disclosure is a routine compliance requirement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The recording allows shareholders to hear management's detailed commentary on the company's performance and future outlook. The link is hosted on Swiggy's official investor relations website for public access.
- Audio recording of the conference call held on January 29, 2026, is now available for public review.
- Disclosure made in compliance with Part A of Regulation 30 of SEBI (LODR) Regulations, 2015.
- The recording can be accessed via the company's corporate website under the financial results section.
- The filing ensures transparency by providing all investors equal access to management discussions.
Swiggy Limited has announced a change in its registered office address within Bengaluru, effective from April 1, 2026. The Board of Directors approved the relocation from Embassy Tech Village to Sumadhura Capitol Towers during a meeting held on January 29, 2026. This move is a routine administrative update and remains within the local limits of Karnataka. The transition is scheduled to coincide with the start of the 2026-27 financial year.
- Board approved the office relocation in a meeting held on January 29, 2026, between 3:00 PM and 3:35 PM.
- The new office will be situated at Sumadhura Capitol Towers, occupying the 3rd to 6th floors of Tower 1.
- Relocation is effective from April 1, 2026, ensuring a transition at the start of the new fiscal year.
- The move is within the local limits of Bengaluru, maintaining the company's jurisdictional status in Karnataka.
Swiggy reported strong growth for Q3 FY26, with Food Delivery GOV reaching INR 8,959 crore and Adjusted EBITDA growing 1.5x to INR 272 crore. The Quick Commerce segment (Instamart) continues its hyper-growth phase, with GOV doubling YoY to INR 7,938 crore, driven by a 40% jump in Average Order Value (AOV) to INR 746. While Instamart remains loss-making with an Adjusted EBITDA loss of INR 908 crore, contribution margins showed a sequential improvement of 9 bps. The platform's overall user base expanded significantly, with monthly transacting users (MTU) rising 37% to 24.3 million.
- Food Delivery GOV grew 20.5% YoY to INR 8,959 Cr with Adjusted EBITDA margin at a 2-year high of 3.0%
- Instamart GOV skyrocketed 103% YoY to INR 7,938 Cr, supported by 1,136 darkstores across 131 cities
- Average Order Value (AOV) for Instamart increased by 39.7% YoY to reach INR 746
- Total platform Average Monthly Transacting Users (MTU) reached 24.3 million, a 37% YoY increase
- Out-of-home consumption segment remained profitable with 49% YoY GOV growth and 0.7% EBITDA margin
Swiggy reported a robust Q3FY26 with B2C Gross Order Value (GOV) reaching INR 18,122 Cr, up 49% YoY. The Food Delivery segment achieved a 3-year high growth rate of 20.5% YoY with margins expanding to 3%, while Quick Commerce (Instamart) maintained triple-digit growth at 103.2% YoY. The company significantly strengthened its balance sheet through a INR 10,000 Cr QIP and a INR 2,400 Cr unlock from its Rapido stake sale. Despite competitive intensity, the management reiterated its guidance for Quick Commerce contribution breakeven by Q1FY27.
- Food Delivery GOV grew 20.5% YoY to INR 8,959 Cr, with Adjusted EBITDA margins reaching a 2-year high of 3.0%.
- Quick Commerce GOV surged 103.2% YoY to INR 7,938 Cr, driven by a 40% YoY increase in Average Order Value (AOV) to INR 746.
- Platform Average Monthly Transacting Users (MTU) grew 36.8% YoY to 24.3 million users.
- Consolidated Adjusted Revenue grew 50.8% YoY to INR 6,431 Cr, though consolidated Adjusted EBITDA loss stood at INR 712 Cr.
- Liquidity significantly enhanced by INR 10,000 Cr QIP and INR 2,400 Cr from Rapido stake sale, providing a strategic moat.
Swiggy reported a robust 54% year-on-year growth in consolidated revenue from operations, reaching ₹6,148 crore for the quarter ended December 31, 2025. While the company remains loss-making, the net loss narrowed slightly on a sequential basis to ₹1,065 crore from ₹1,092 crore in Q2 FY26. Growth was driven by strong performance in Quick Commerce (Instamart) and Food Delivery segments, though total expenses rose to ₹7,298 crore due to higher delivery and marketing costs. For the nine-month period, revenue stands at ₹16,670 crore with a total loss of ₹3,354 crore.
- Consolidated revenue from operations grew 54% YoY to ₹6,148 crore in Q3 FY26.
- Net loss for the quarter stood at ₹1,065 crore, showing a marginal sequential improvement from ₹1,092 crore.
- Quick Commerce (Instamart) revenue surged 18.4% sequentially to ₹1,588 crore.
- Food Delivery segment revenue increased to ₹2,476 crore from ₹2,324 crore in the previous quarter.
- Total expenses for the quarter reached ₹7,298 crore, with delivery and related charges at ₹1,533 crore.
Swiggy Limited has scheduled its Q3FY26 earnings conference call for January 29, 2026, at 17:00 IST. This follows a board meeting on the same day where the company will approve its financial results for the quarter ending December 2025. The call will allow management to discuss operational performance and financial metrics with analysts and investors. This is a routine but essential update for shareholders to understand the company's growth trajectory post-listing.
- Earnings conference call scheduled for January 29, 2026, at 5:00 PM IST.
- Board meeting to approve Q3FY26 financial results is also set for January 29, 2026.
- The session will be conducted virtually via a registration link provided in the filing.
- VP of Investor Relations, Abhishek Agarwal, is designated as the primary contact for the event.
Swiggy Limited has filed a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by MUFG Intime India Private Limited (the Registrar and Share Transfer Agent), pertains to the quarter ended December 31, 2025. This filing confirms that the company has complied with the standard procedures for the dematerialization of share certificates. As a routine regulatory requirement, it has no impact on the company's financial health or business operations.
- Compliance certificate submitted for the quarter ended December 31, 2025
- Issued by Registrar and Share Transfer Agent, MUFG Intime India Private Limited
- Confirms adherence to SEBI (Depositories and Participants) Regulations, 2018
- Standard administrative filing with no impact on business fundamentals
Swiggy Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This action is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the financial results are officially declared. The company will announce the specific date for the board meeting to approve these results in due course.
- Trading window closure effective from January 1, 2026.
- Closure pertains to the financial results for the quarter ended December 31, 2025.
- Window to reopen 48 hours after the announcement of financial results.
- Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.
Swiggy Limited has allotted 26,66,66,663 equity shares through a Qualified Institutional Placement (QIP) at a price of ₹375.00 per share. This includes a premium of ₹374.00 per Equity Share. The issue price reflects a discount of 3.97% from the floor price of ₹390.51 per Equity Share. The total amount raised through this issue is ₹99,99,99,98,625. Post-allotment, the paid-up equity share capital of the company has increased to ₹2,76,03,13,555.
- Allotted 26,66,66,663 Equity Shares via QIP.
- Issue price is ₹375.00 per Equity Share.
- Total amount raised is ₹99,99,99,98,625.
- Discount of 3.97% on the floor price.
- ICICI Prudential was allotted 4,26,66,666 shares (16.0000%)
Swiggy Limited has completed a Qualified Institutions Placement (QIP) of equity shares. The Investment & Allotment Committee approved the closure of the issue on December 12, 2025. A total of 26,66,66,663 Equity Shares were allocated at an issue price of ₹375.00 per Equity Share, including a premium of ₹374.00 per Equity Share. This price represents a discount of 3.97% to the floor price of ₹390.51 per Equity Share.
- Issue price set at ₹375.00 per Equity Share
- 26,66,66,663 Equity Shares allocated to eligible QIBs
- Discount of 3.97% to the floor price of ₹390.51 per Equity Share
- Issue closed on December 12, 2025
Swiggy Limited's Extraordinary General Meeting (EGM) held on December 8, 2025, approved a special resolution to raise capital not exceeding ₹10,000 Crores through Qualified Institutions Placement (QIP). The resolution was passed with the requisite majority, with 98.5375% of votes polled in favor and 1.4625% against. A total of 677,668,939 shares were voted, representing 89.8297% of outstanding shares. The e-voting results showed strong support from public non-institutions, with 1,228,435,856 votes in favor.
- Approved fundraising of up to ₹10,000 Crores via Qualified Institutions Placement.
- 98.5375% of votes polled were in favor of the resolution.
- 677,668,939 shares voted, representing 89.8297% of outstanding shares.
- 1,228,435,856 votes in favor from public non-institutions.
Financial Performance
Revenue Growth by Segment
Food Delivery Gross Order Value (GOV) grew 43.7% over the last 2 years, with Adjusted Revenue growing 96.8% in the same period. Quick Commerce GOV grew 107.6% YoY to INR 7,022 Cr in Q2FY26. Out-of-Home Consumption GOV grew 52.5% YoY to INR 1,118 Cr in Q2FY26. Supply Chain & Distribution revenue reached INR 2,560 Cr in Q2FY26.
Geographic Revenue Split
Not disclosed in available documents, though the company operates across major Indian urban centers with a focus on dark store expansion in high-demand regions.
Profitability Margins
Food Delivery Adjusted EBITDA margin improved to 2.8% of GOV in Q2FY26 from 2.0% in FY25. Quick Commerce Adjusted EBITDA margin improved to -12.1% of GOV in Q2FY26 from -18.0% in Q4FY25. Out-of-Home Consumption has been profitable for 3 consecutive quarters, reaching an Adjusted EBITDA of INR 6 Cr in Q2FY26.
EBITDA Margin
Food Delivery generated an annualized Adjusted EBITDA of ~INR 960 Cr in Q2FY26. Group-level profitability is improving as Quick Commerce losses reduced from -18.0% of GOV in Q4FY25 to -12.1% in Q2FY26.
Capital Expenditure
Capital expenditure was INR 188 Cr in Q2FY26, representing a 55.7% reduction from the INR 425 Cr spent in Q4FY25 as upfront network investments stabilized.
Credit Rating & Borrowing
Not disclosed in available documents; however, the company maintains a strong cash position of INR 7,005 Cr (proforma for Rapido stake-sale) and recently raised capital via QIP at INR 375 per share.
Operational Drivers
Raw Materials
Primary operational costs include 'Purchases of stock-in-trade' for the Quick Commerce segment (FMCG and groceries) and 'Delivery and related charges' which represent the cost of the delivery network.
Import Sources
Not disclosed in available documents; procurement is primarily domestic from wholesalers and brand partners.
Key Suppliers
Suppliers include various FMCG brands for Instamart and over 44,400 active restaurant partners for the Food Delivery segment.
Capacity Expansion
Quick Commerce capacity is measured by dark stores, with an average area of 3,199 sq ft per store in Q2FY26. Expansion is funded by QIP proceeds for dark stores and warehouses.
Raw Material Costs
Purchases of stock-in-trade and delivery charges are the primary costs. Delivery costs as a % of GOV are being optimized through operating leverage as order density increases.
Manufacturing Efficiency
Operational efficiency in Quick Commerce is tracked via orders per darkstore per day, which rose to 1,025 in Q2FY26, up from 985 in Q1FY26.
Logistics & Distribution
Delivery and related charges are a major expense, though operating leverage is playing out as visible in the 590bps improvement in Quick Commerce margins over the last two quarters.
Strategic Growth
Expected Growth Rate
107.60%
Growth Strategy
Growth will be achieved by expanding the quick commerce fulfillment network (dark stores/warehouses), investing in technology and cloud infrastructure, and aggressive brand marketing. The company is also utilizing QIP proceeds for inorganic growth through unidentified acquisitions.
Products & Services
Food delivery services, Instamart grocery delivery, Dineout restaurant table bookings and discounts, and Supply Chain & Distribution services for wholesalers.
Brand Portfolio
Swiggy, Instamart, Dineout, SteppinOut, Scootsy, SuprDaily, and Lynks.
New Products/Services
Supply Chain and Distribution services for wholesalers/retailers and value-added services in the authorized distribution model are expected to increase operating margins.
Market Expansion
Expansion of the dark store network and scaling Instamart across urban regions using QIP proceeds and IPO capital.
Market Share & Ranking
Quick Commerce now accounts for 42% of total B2C GOV, up from 30% in Q2FY25, indicating rapid market share gains within the internal portfolio.
Strategic Alliances
Strategic stake in Rapido (sale expected to yield INR 2,400 Cr) and collaborations with restaurant partners for co-creating propositions.
External Factors
Industry Trends
The industry is shifting toward Quick Commerce, which grew 107.6% YoY for Swiggy. There is a trend toward 'unparalleled convenience' and integrated apps for food, grocery, and dining.
Competitive Landscape
Intense competition in Quick Commerce and Food Delivery requires constant optimization of customer incentives and upfront investments in network building.
Competitive Moat
Swiggy's moat is built on network effects (Food Delivery user base cross-pollinating to Instamart/Dineout) and brand recall. Quick Commerce now accounts for ~80% of Food Delivery GOV, showing high ecosystem stickiness.
Macro Economic Sensitivity
Revenue is sensitive to discretionary income levels, particularly for the Out-of-Home Consumption segment which is expected to expand as discretionary incomes rise.
Consumer Behavior
Shift toward rapid delivery (Quick Commerce) and integrated platform usage for all consumption needs.
Regulatory & Governance
Industry Regulations
Operations are subject to data-related regulations, e-commerce logistics rules, and digital payment regulations.
Environmental Compliance
The company has established 2030 sustainability goals highlighting a commitment to responsible growth.
Taxation Policy Impact
The group reported a tax expense of INR 4 Cr for the half-year ended September 2024 against a loss before tax of INR 1,237 Cr.
Legal Contingencies
The company reported a loss before tax of INR 1,237 Cr for the half-year ended September 30, 2024. Specific values for pending court cases are not disclosed in the provided summaries.
Risk Analysis
Key Uncertainties
Network under-utilization during rapid expansion phases (as seen in Q4) and volatility from competitive pressures are key business risks.
Geographic Concentration Risk
Operations are headquartered in Bengaluru, with significant revenue concentration in major Indian metropolitan areas.
Third Party Dependencies
High dependency on the availability and retention of delivery partners and the participation of restaurant/brand partners.
Technology Obsolescence Risk
The company mitigates technology risk through continuous investment in cloud infrastructure and technology-led authorized distribution models.
Credit & Counterparty Risk
Trade receivables of INR 2,895 Cr as of Sept 2025 indicate significant credit exposure to partners and payment gateways.