The company listed on BSE and NSE on November 13, 2024, following a ₹11,327.43 crore IPO priced at ₹371-₹390 per share in November 2024. Recent corporate actions include a ₹10,000 crore QIP and the Instamart business transfer to a step-down subsidiary effective April 01, 2026. The company operates dual business models: food delivery (profitable) and quick commerce (loss-making), with strategic capital deployment to expand dark store networks and enhance technology infrastructure.
Cyborg Score Rationale
Swiggy reported FY26 consolidated revenue of ₹23,053 crore against ₹15,227 crore in FY25, with a net loss of ₹4,154 crore. Food Delivery was the sole profitable segment at ₹1,041 crore, while Quick Commerce recorded a segment loss of ₹3,063 crore. Strong revenue growth and leadership position are offset by persistent losses driven by quick commerce expansion.
Top Insights
Food Delivery segment is profitable (₹1,041 crore), while Quick Commerce losses (₹3,063 crore) remain the key drag on profitability (as of FY26).
Swiggy raised ₹10,000 crore via QIP with ₹93,865 crore deployed across fixed deposits, bonds, and mutual funds as of Q1 FY27.
In FY24, Swiggy's B2C gross order value reached ₹35,000 crores, though Quick Commerce accounts for 91% of Swiggy's overall EBITDA losses.
Swiggy competes directly with Zomato, Blinkit, and Zepto in food delivery and quick commerce segments, positioning itself for sustained competitive rivalry.
Named Competitors
Zomato — Food delivery and fintech platform with Blinkit quick commerce
Zepto — Quick commerce platform for instant grocery delivery
Blinkit — Zomato-backed quick commerce service
Recent Developments
(November 2024) Listed on BSE and NSE following ₹11,327.43 crore IPO at ₹390 share price