Swiggy Q2 FY27 call: growth held, margin gains planned, Toing loss persists

Management guided margin improvementManagement guided margin pressureInvestor Communications View source PDF Explain this filing

SWIGGY · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-4.7%Reaction day

₹185.40

prior close

₹184.30

announcement price

After-mkt

timing

Nifty Midcap 150market-0.9%-3.8% vs market

E-Retail/ E-Commerce peers, median of 14sector-0.9%-3.9% vs sector

On the reaction day the stock moved 3.8 pts less than Nifty Midcap 150 and 3.9 pts less than its E-Retail/ E-Commerce peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-2.1

10m

-2.2

15m

-2.1

30m

-2.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-4.7-0.9-3.8-0.9-3.9

Next day

-4.4+0.3-4.7+1.2-5.6

-4.7+1.3-6.0+1.6-6.3

-3.1+2.9-6.0+2.7-5.8

+2.4+4.9-2.5+6.0-3.6

+3.1pendingpending+5.2-2.1

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15d

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UpDownMarket · Nifty Midcap 150Sector · E-Retail/ E-Commerce peers, median of 14Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Swiggy kept 18% to 20% growth guidance for core food and guides a 1 percentage point adjusted earnings margin gain in Q3 FY27, aiming for 5% of gross order value. Instamart added 1.3 million monthly users; monthly order value rose 13.4% quarter on quarter. Contribution losses may reach 1 percentage point. Toing may lift food growth to 25% to 30%, but has about INR 4 billion of annual losses; management needs one or two quarters to decide on scaling.

Likely market impact

Positive growth and margin guidance support the stock, but Toing losses, fierce competition and negative quick-commerce margins may delay gains.