Swiggy Limited has informed the Exchange about Transcript of the Earnings Conference Call for Analysts and Investors held on May 08, 2026

Swiggy reported strong progress toward contribution margin breakeven, expected in Q1 FY27, having moved 5.5 percentage points over the past year. The company reiterated its medium-term guidance of INR 1 lakh crore (INR1 trillion) in quick commerce NOV within 3-6 years at 35-50% CAGR, with 5% EBITDA margin. Management explicitly stated it will not 'buy growth' through aggressive discounting, instead focusing on differentiated offerings like the Noice private label brand for clean-label products. The company is deliberately churning low-AOV customers while retaining high-frequency, high-spending users. Swiggy added 0.5 million MTUs without adding stores, leveraging existing network capacity at 40% utilization. The Toing app (separate from Food Delivery) is still pre-PMF and targeting infrequent users in smaller towns. Food Delivery maintains its 18-20% medium-term growth target with 5% steady-state EBITDA margin.