Swiggy Limited has informed the Exchange about letter to Shareholders'
SWIGGY · price
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Swiggy reported Q1 FY26 consolidated adjusted revenue of INR 5,308 Cr, up 52.7% YoY, with platform monthly transacting users (MTU) rising 35.2% YoY to 21.6 million. Food delivery GOV grew 18.8% YoY to INR 8,086 Cr, with adjusted EBITDA margin at 2.4% of GOV (a seasonal dip from 2.9% in Q4). Quick commerce GOV surged 107.6% YoY to INR 5,655 Cr, with average order value jumping to INR 612 and contribution margin improving 97 bps to -4.6%. However, consolidated adjusted EBITDA loss widened to INR 813 Cr from INR 732 Cr in Q4. Cash balance stood at INR 5,354 Cr as of June 30, 2025. Management maintained its guidance of 5% food delivery EBITDA margin in the medium-term and quick commerce contribution margin break-even between Q3 FY26 and Q1 FY27. The company also disclosed it is re-evaluating its ~12% stake in Rapido, which has announced plans to enter food delivery.
Strong top-line growth across segments, especially in quick commerce, supports the long-term growth story, but widening EBITDA losses and higher cash burn (INR 1,053 Cr this quarter) may concern short-term investors. Reiteration of margin improvement guidance and potential Rapido monetization are positives for shareholders.