SWIGGY
Swiggy share price & financials
- Price
- ₹276.87
- Market cap
- ₹77.5k Cr
- Sector
- Consumer Services
- Calls analysed
- 6
Swiggy Limited Q1 FY27
What went well
- Quick Commerce contribution margin improved to -0.2% in Q1 FY27, nearing breakeven, with a target range of 0% to -100 bps.
- Food Delivery business demonstrated robust adjusted YoY growth of 18%, with management guiding for 18-20% YoY growth.
- Monetization efforts, including better brand negotiations, advertising, and user fees, have significantly improved take rates and are deemed sustainable.
What to watch
- Quick Commerce NOV growth was 3% QoQ, while QC revenue growth was 13% QoQ, indicating a reliance on take rate increases rather than pure volume growth.
- Last mile costs were impacted by seasonal factors like elections and hot summers, though the dip was reduced to 20 basis points this year from 40 basis points last year.
What Swiggy Limited does
Swiggy operates a multi-category consumer platform connecting users, restaurant partners and delivery partners across food delivery, quick commerce (Instamart) and out-of-home dining and events (Dineout, Scenes). It earns commissions from restaurant and merchant partners, advertising revenue from brand and restaurant partners, delivery and platform fees from users, and subscription revenue from its Swiggy One membership. A separate Supply Chain and Distribution business provides integrated logistics and fulfilment services, including warehousing, to Instamart and other partners, while Platform Innovations houses newer bets such as Swiggy Genie (pickup-and-drop) and Toing.
Segments
- Food Delivery
- Quick Commerce (Instamart)
- Out-of-Home Consumption
- Supply Chain and Distribution
- Platform Innovations
- Active dark stores (Instamart)
- 1,143
- Cities covered by Instamart dark-store network
- 129
- Total active dark-store area
- 4.8 Mn+ sq ft
- Average monthly transacting delivery partners
- ~612,000
- Average monthly transacting restaurant partners (Food Delivery)
- ~275,400
- Average monthly transacting users (platform-wide)
- 25.2 Mn
Guidance record · Q1 FY27
what the last two calls moved 13 tracked 1 delivered 3 missed 9 open- Food Delivery GOV Growth delivered said Q4 FY25 Promised: 18% to 22% year-on-year growth Q1 FY27: This promise for FY26 was previously achieved and remains closed.
- Quick Commerce Contribution Margin Breakeven missed said Q4 FY25 Promised: Q1 FY27 (Revised from Q3 FY26) Q1 FY27: The target for breakeven (0%) in Q1 FY27 was missed, with Quick Commerce contribution margin reported at -0.2%. Management has now set a new operating target range of 0% to -1%.
- Quick Commerce Capex revised down said Q4 FY25 Promised: Reducing in a significant way going forward Q1 FY27: The promise to significantly reduce capex has been reversed. Management now guides for an acceleration in store additions in Q2 FY27, more than in the previous four quarters combined.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 37.3%, net profit up 33.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,601 | 3,992 | 4,410 | 4,961 | 5,561 +54% | 6,148 +54% | 6,383 +45% | 6,812 +37% |
| EBITDA | -554 | -726 | -964 | -955 | -799 −44% | -783 −8% | -698 +28% | -651 +32% |
| Net profit | -626 | -799 | -1,081 | -1,197 | -1,092 −74% | -1,065 −33% | -800 +26% | -791 +34% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −34.4% 1Y
1Y: ₹423.9 on 10 Sept 2025 → ₹278.2. High ₹458.45 (19 Sept 2025), low ₹238.75 (29 Jun 2026).
How the price took the results
close before → close after
- Q1 FY27
- +3.0%
- 30 Jul
- Q4 FY26
- +0.4%
- 8 May
- Q3 FY26
- +1.3%
- 29 Jan
- Q2 FY26
- −2.3%
- 6 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 43.2% a year over 2 years, FY24 to FY26. Operating margin widened to -14.0%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹11.2k Cr | ₹15.2k Cr | ₹23.1k Cr |
| Operating profit | ₹-2.2k Cr | ₹-2.8k Cr | ₹-3.2k Cr |
| Operating margin | -19.7% | -18.3% | -14.0% |
| Interest | ₹70 Cr | ₹101 Cr | ₹200 Cr |
| Depreciation | ₹421 Cr | ₹613 Cr | ₹1.2k Cr |
| Net profit | ₹-2.4k Cr | ₹-3.1k Cr | ₹-4.2k Cr |
| Net margin | -20.9% | -20.5% | -18.0% |
| ROCE | -24.0% | -29.0% | -24.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹1 Cr | ₹3 Cr | ₹3 Cr | ₹232 Cr | ₹261 Cr |
| Reserves | ₹1.7k Cr | ₹-3.3k Cr | ₹-6.5k Cr | ₹-7.8k Cr | ₹9.6k Cr | ₹18.1k Cr |
| Borrowings | ₹93 Cr | ₹16.1k Cr | ₹16.2k Cr | ₹16.4k Cr | ₹2.5k Cr | ₹2.6k Cr |
| Other liabilities | ₹1.1k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹3.5k Cr | ₹4.4k Cr |
| Total liabilities | ₹2.9k Cr | ₹14.4k Cr | ₹11.3k Cr | ₹10.5k Cr | ₹15.8k Cr | ₹25.2k Cr |
| Fixed assets | ₹747 Cr | ₹801 Cr | ₹1.5k Cr | ₹2.0k Cr | ₹4.4k Cr | ₹4.6k Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹925 Cr | ₹10.3k Cr | ₹6.5k Cr | ₹5.2k Cr | ₹4.1k Cr | ₹6.0k Cr |
| Other assets | ₹1.2k Cr | ₹3.3k Cr | ₹3.2k Cr | ₹3.3k Cr | ₹7.3k Cr | ₹14.6k Cr |
| Total assets | ₹2.9k Cr | ₹14.4k Cr | ₹11.3k Cr | ₹10.5k Cr | ₹15.8k Cr | ₹25.2k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −17.81 pp while DIIs added +13.85 pp. The shareholder count grew 11% to 5,70,439.
- FIIs
- 14.0%
- DIIs
- 27.4%
- Public
- 53.6%
- Others
- 5.1%
Since Jun 2025
- Public −17.81 pp
- DIIs +13.85 pp
- FIIs +6.60 pp
How it drifted, 7 quarters
Over this window the public fell from 86.1% to 53.6% — −32.5 pp.
Ownership split by quarter, oldest first. Dec '24: FIIs 6.2%, DIIs 7.8%, Public 86.1%.Mar '25: FIIs 4.9%, DIIs 9.3%, Public 85.8%.Jun '25: FIIs 7.4%, DIIs 13.5%, Public 71.4%, Others 7.7%.Sep '25: FIIs 12.2%, DIIs 15.9%, Public 64.9%, Others 6.9%.Dec '25: FIIs 16.1%, DIIs 22.5%, Public 55.5%, Others 5.9%.Mar '26: FIIs 14.6%, DIIs 25.4%, Public 54.4%, Others 5.6%.Jun '26: FIIs 14.0%, DIIs 27.4%, Public 53.6%, Others 5.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Invesco India Arbitrage Fund Mutual fund newly disclosed 1.36% held
- Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund Mutual fund +1.04 pp 3.28% held
- SBI Equity Hybrid Fund Mutual fund +0.64 pp 2.58% held
- ICICI Prudential Multi-Asset Fund Mutual fund +0.61 pp 3.87% held
- Kotak Midcap Fund Mutual fund +0.35 pp 3.22% held
- HDFC Trustee Company Ltd. A/C HDFC Large Cap Fund Mutual fund +0.35 pp 1.55% held
- Mirae Asset Large & Midcap Fund Mutual fund +0.30 pp 2.56% held
The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Swiggy Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mih India Food Holdings Bv | 21.06% | unchanged |
| Svf Ii Songbird (De) Llc | 6.26% | unchanged |
| Sri Harsha Majety | 4.57% | unchanged |
| ICICI Prudential Multi-Asset Fund Mutual fund | 3.87% | +0.61 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund Mutual fund | 3.28% | +1.04 pp |
| Kotak Midcap Fund Mutual fund | 3.22% | +0.35 pp |
| SBI Equity Hybrid Fund Mutual fund | 2.58% | +0.64 pp |
| Accel India Iv (Mauritius) Limited VC / PE | 2.56% | −0.21 pp |
| Mirae Asset Large & Midcap Fund Mutual fund | 2.56% | +0.30 pp |
| Tencent Cloud Europe B.V. | 1.97% | unchanged |
| HDFC Trustee Company Ltd. A/C HDFC Large Cap Fund Mutual fund | 1.55% | +0.35 pp |
| Government Pension Fund Global Sovereign | 1.47% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in SWIGGY
Filings to Aug 2026
0 new, 6 added, 3 trimmed, 2 sold out — net −191.54 L shares (−7.6%).
- Held by funds
- ₹6.6k Cr
- 36 schemes
- Biggest holder
- Nippon India Multi Cap Fund
- ₹989 Cr · 1.8% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹989 Cr | held | Apr '25 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹868 Cr | held | Jun '26 |
| Nippon India Large Cap Fund Nippon India Mutual Fund | ₹641 Cr | held | Nov '24 |
| HDFC Large Cap Fund HDFC Mutual Fund | ₹526 Cr | held | Dec '25 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹423 Cr | held | Jan '26 |
| HDFC Flexi Cap Fund HDFC Mutual Fund | ₹309 Cr | held | May '25 |
| SBI Midcap Fund SBI Mutual Fund | ₹282 Cr | held | Jul '26 |
| SBI MultiCap Fund SBI Mutual Fund | ₹254 Cr | held | Jul '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
6 added, 3 trimmed — net −1.92 cr shares (−7.6%)
- Funds are sitting on
- -11%
- vs est. average cost
- Held by funds
- ₹6.6k Cr
- 36 schemes · ≈ 8.3% of the company
- Biggest holder
- Nippon India Multi Cap Fund
- ₹989 Cr · 1.8% of that fund
- Longest holder
- Nippon India Large Cap Fund
- 1y 10m · since Nov '24
Shares held by these funds +985%
Nov '24 25.21 cr shares Jul '26
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse Swiggy Limited
Guides on how to read this kind of business and the numbers that matter.