Swiggy Limited (SWIGGY) AI Stock Analysis

• Market Cap: ₹1.03T
• Dividend Yield: N/A
• Average Volume (3M): 539.59K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.83
• 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: 2,493,647,000
• 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: 35.71% 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 ▼(-0.40% 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.

Swiggy Limited Business Overview & Revenue Model

Company Description

Swiggy Limited operates Swiggy, a platform to browse, select, order, and pay for food delivery in India. The company also offers grocery and household items delivery services through Swiggy Instamart platform. In addition, it provides restaurant reservation services through Dineout platform; and events bookings services through SteppinOut platform; product pick-up/dropoff services through Genie platform; and hyperlocal commerce services through Swiggy Minis platform. The company was incorporated in 2013 and is based in Bengaluru, India.

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

Swiggy Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 401.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• 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 401.6 is below the 20-day moving average (MA) of 424.51, below the 50-day MA of 427.41, and above the 200-day MA of 383.72, indicating a neutral trend. The MACD of -6.13 indicates Positive momentum. The RSI at 38.17 is Neutral, neither overbought nor oversold. The STOCH value of 19.80 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
SPECIALITY	69 Neutral	₹6.59B	33.65	―	0.73%	5.42%	-35.75%
ADVANIHOTR	68 Neutral	₹5.33B	21.16	―	3.30%	1.07%	5.07%
SHREERAMA	61 Neutral	₹7.38B	13.06	―	―	24.53%	346.38%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
BYKE	54 Neutral	₹3.29B	74.13	―	―	15.06%	-43.56%
SWIGGY	45 Neutral	₹1.03T	-23.04	―	―	46.50%	-75.02%

Swiggy Limited Corporate Events

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.

Swiggy Limited Announces Strategic Divestment in Rapido

Swiggy Limited has announced the approval of a Share Purchase Agreement to sell its holdings in Roppen Transportation Services Private Limited (Rapido) to MIH Investments One B.V., a Netherlands-based company. This strategic divestment, valued at INR 1968 crore, aims to realize Swiggy’s investments for the benefit of the company and its shareholders. The transaction is subject to customary conditions, including approvals from the Competition Commission of India and Swiggy’s shareholders, and involves representations, warranties, and indemnification obligations typical of such agreements.