Swiggy (2QFY26): FD Print In-Line, Instamart Beats Burn Expectations. Maintain ADD
On the Q2 print, overall B2C GOV grew 47.6% YoY (12.7% QoQ) to reach INR 166.8bn (in-line). Food delivery (FD) GOV grew 18.8% YoY to INR 85.4bn
401 Views
Swiggy: Value Emerging, Upgrade to BUY
Swiggy’s food delivery (FD) print was largely in line (MTUs at 15.1mn vs HSIE’s 15.2mn, gross revenue up 19.7% at INR18.67bn vs HSIE’s INR18.5bn,...
231 Views
Swiggy - Competition and Expansion Plans to Drag QC Profits
Overall, Swiggy reported a net loss of INR8b, marking a 39% YoY increase. For 4QFY25, we expect revenue/adj. EBITDA loss to increase 7.0%/14.5% QoQ.
191 Views
Swiggy - Gains Share in Food Delivery; QC Losses Grow Higher than Expected
In FD, we estimate Swiggy to have gained market share of ~30bps on GOV basis and ~50bps on MTU basis. This is broadly in line with our survey...
430 Views
Swiggy (3QFY25): Quick Commerce Burn Deepens. Maintain REDUCE
Swiggy’s food delivery trumped our margin expectations, alas widening Instamart losses pulled it back. Overall, B2C GoV grew ~38/7.6% YoY/QoQ...
412 Views