Shareholders'' Letter for Q4 2025-26 dated May 08, 2026
SWIGGY · price
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Swiggy reported strong Q4 FY26 results with Food Delivery GOV growing 22.6% YoY to INR 9,005 Cr, its highest growth in 15 quarters. Monthly Transacting Users grew 27.2% YoY to 25.2 million, driven by Bolt, One BLCK, and 99-Store offerings. Food Delivery Adjusted EBITDA margin improved to 3.3% (+26 bps QoQ), while Quick Commerce contribution margin improved significantly to -1.8% from -5.6% a year ago, on track for Q1 FY27 break-even. The company maintains medium-term guidance of 18-20% YoY GOV growth for food delivery and targets 5% EBITDA margin. Consolidated cash balance stands at INR 15,053 Cr. The company shut down Snacc micro-kitchen experiment and is testing Toing for affordable restaurant marketplace.
Positive for shareholders - Swiggy shows sustained margin improvement across segments with clear profitability roadmap. Food delivery profitable at 3.3% margin, quick commerce approaching break-even with strong path ahead. Large cash reserves provide runway for growth investments despite ongoing losses.