Swiggy Limited (SWIGGY) AI Stock Analysis

• Market Cap: ₹970.80B
• Dividend Yield: N/A
• Average Volume (3M): 539.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: 46.50%
• EPS Growth: -75.02%
• Country: IN
• Employees: 5,401
• Sector: Services
• Sector Strength: N/A
• Industry: Specialty Retail
• EPS (TTM): -4.59
• Shares Outstanding: 2,760,313,500
• 10 Day Avg. Volume: 569,851
• 30 Day Avg. Volume: 539,589
• PEG Ratio: -0.79
• Price to Book (P/B): 7.37
• Price to Sales (P/S): 4.95
• P/FCF Ratio: -25.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹545.00
• Price Target Upside: 34.63% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: ₹400.00 ▼(-1.19% Downside)

Swiggy's overall stock score is primarily impacted by its financial performance, which shows strong revenue growth but significant profitability and cash flow challenges. Technical analysis indicates bearish momentum, while valuation metrics are unfavorable due to negative earnings. The absence of earnings call insights and corporate events leaves these areas unaddressed.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust market demand and effective expansion strategies, enhancing long-term business prospects.

Market Position

As a leading platform, Swiggy benefits from brand recognition and customer loyalty, providing a competitive edge in the growing online delivery market.

Diversified Revenue Streams

Diversified revenue streams reduce dependency on a single source, enhancing financial stability and resilience against market fluctuations.

Negative Factors

Profitability Challenges

Persistent profitability issues highlight operational inefficiencies, which could hinder long-term financial health and investor confidence.

Negative Cash Flow

Negative cash flow indicates difficulty in sustaining operations without external funding, posing risks to liquidity and growth initiatives.

Negative Return on Equity

Negative ROE reflects poor profitability relative to shareholder equity, potentially affecting long-term shareholder value and investment appeal.

Swiggy Limited Business Overview & Revenue Model

Company Description

Swiggy Limited is a leading food delivery and logistics platform based in India, primarily operating in the on-demand food delivery sector. The company connects consumers with a wide range of restaurants through its user-friendly app and website, allowing customers to order meals from their favorite local eateries. In addition to food delivery, Swiggy has expanded its services to include grocery delivery and other essentials, positioning itself as a comprehensive online food and grocery service provider.

How the Company Makes Money

Swiggy generates revenue through multiple streams. The primary source is commission fees charged to restaurants for each order facilitated through its platform, which typically ranges from 15% to 25% of the order value. Additionally, Swiggy charges delivery fees to customers, which can vary based on distance and order size. The company also offers subscription services, such as Swiggy Super, which provides customers with benefits like free deliveries and discounts for a monthly fee. Partnerships with various brands for promotions and advertisements on its platform further contribute to its earnings. Moreover, the expansion into grocery delivery services allows for additional revenue generation through a similar commission-based model. Seasonal promotions and loyalty programs also play a role in driving customer retention and increasing order frequency, thus enhancing overall revenue.

Swiggy Limited Financial Statement Overview

Summary

Swiggy is experiencing robust revenue growth but is simultaneously grappling with profitability challenges and cash flow constraints. Despite strong equity and controlled leverage, the persistent negative cash flow and profitability metrics suggest operational inefficiencies.

Income Statement

Swiggy has shown significant revenue growth over the years, with the most recent year showing a 37.48% increase in revenue compared to the previous year, indicating strong market demand. However, the company is facing challenges in profitability, evidenced by a negative gross profit margin of 43.82% in 2023 and a net profit margin of -20.46% in 2025. Despite revenue growth, high operational costs and negative EBIT and EBITDA margins highlight ongoing operational inefficiencies.

Balance Sheet

The balance sheet shows a strong equity position, with an equity ratio of 67.21% in 2025, indicating financial stability. The debt-to-equity ratio remains low at 0.17, suggesting conservative leverage usage. However, the return on equity is negative due to persistent net losses, which is a concern for long-term profitability and shareholder returns.

Cash Flow

Swiggy's cash flow statement reflects challenges in generating positive free cash flow, with a worsening trend as free cash flow became more negative year-over-year. The operating cash flow to net income ratio is negative, indicating that the company struggles to convert its earnings into cash flow. This is a critical issue that could affect liquidity if not addressed.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	169.66B	152.27B	112.47B	82.65B	57.05B	25.47B
Gross Profit	75.67B	66.76B	61.25B	-15.68B	29.40B	8.50B
EBITDA	-11.29B	-4.65B	-18.52B	-38.35B	-34.09B	-14.06B
Net Income	-37.03B	-31.17B	-23.50B	-41.79B	-36.29B	-16.17B
Balance Sheet
Total Assets	0.00	152.05B	105.29B	112.81B	144.06B	29.15B
Cash, Cash Equivalents and Short-Term Investments	54.94B	46.23B	49.19B	60.43B	102.17B	14.80B
Total Debt	0.00	17.03B	8.64B	6.00B	5.08B	5.70B
Total Liabilities	-102.19B	49.86B	27.38B	22.24B	21.39B	11.78B
Stockholders Equity	102.19B	102.19B	77.91B	90.57B	122.67B	17.37B
Cash Flow
Free Cash Flow	-2.75B	-29.20B	-16.64B	-42.28B	-41.92B	-9.18B
Operating Cash Flow	-1.75B	-21.69B	-13.13B	-40.60B	-39.00B	-8.79B
Investing Cash Flow	328.19M	-13.72B	14.58B	39.68B	-91.60B	9.85B
Financing Cash Flow	-1.02B	39.03B	-1.23B	-1.72B	136.34B	137.00M

Swiggy Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 404.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SWIGGY, the sentiment is Negative. The current price of 404.8 is above the 20-day moving average (MA) of 386.97, above the 50-day MA of 392.60, and above the 200-day MA of 385.43, indicating a bearish trend. The MACD of -12.36 indicates Positive momentum. The RSI at 27.22 is Positive, neither overbought nor oversold. The STOCH value of 6.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SWIGGY.

Swiggy Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SHREERAMA	72 Outperform	₹7.91B	14.84	―	―	23.44%	277.43%
ADVANIHOTR	68 Neutral	₹5.14B	20.76	―	3.31%	0.14%	7.90%
BYKE	58 Neutral	₹2.83B	52.39	―	―	18.81%	-26.71%
SPECIALITY	56 Neutral	₹5.44B	25.29	―	0.87%	6.66%	-21.40%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SWIGGY	45 Neutral	₹970.80B	-19.46	―	―	46.50%	-75.02%

Swiggy Limited Corporate Events

Swiggy Completes Landmark INR 10,000 Crore QIP

Swiggy Limited has successfully completed a Qualified Institutions Placement (QIP) of INR 10,000 crore, marking one of the largest transactions in the Indian consumer tech space. The placement attracted significant interest from global and domestic institutional investors, reflecting strong confidence in Swiggy’s business model and growth potential. The funds raised will be used to expand Swiggy’s quick commerce fulfillment network, invest in technology and cloud infrastructure, enhance brand visibility, and support potential acquisitions, thereby strengthening its market position and operational capabilities.

Swiggy Concludes Qualified Institutions Placement, Strengthening Financial Position

Swiggy Limited has announced the closure of its Qualified Institutions Placement (QIP) of equity shares, with the Investment & Allotment Committee approving the allocation of over 2.66 billion equity shares at a price of ₹375 each, which is at a discount to the floor price. This strategic move is expected to enhance Swiggy’s financial flexibility and strengthen its market position, potentially impacting its stakeholders positively by providing additional capital for growth and expansion.

Swiggy Limited Holds First EGM for 2025-26

Swiggy Limited held its first Extraordinary General Meeting (EGM) for the financial year 2025-26 on December 8, 2025, via video conference. The meeting, chaired by Independent Director Shailesh Vishnubhai Haribhakti, saw the resolution set out in the notice dated November 14, 2025, passed by the shareholders with the requisite majority. The EGM proceedings were webcast live, and voting was conducted through remote e-voting and during the meeting. This development indicates Swiggy’s commitment to maintaining transparency and engaging its stakeholders effectively.

Swiggy Releases Q2 2025-26 Shareholders’ Letter

Swiggy Limited has released its Shareholders’ Letter for the second quarter of the fiscal year 2025-26. This announcement is part of the company’s ongoing efforts to maintain transparency with its stakeholders and provide updates on its financial and operational performance. The letter is available on the company’s official website, indicating Swiggy’s commitment to accessible communication with its investors.