Swiggy reports robust 49% year-over-year growth in B2C Gross Order Value (GOV) to INR 18,122 Cr in Q3 FY26. Food delivery sees growth acceleration, while quick-commerce continues expansion. Adjusted EBITDA improves, driven by enhanced efficiency and rising consumer demand. Focus remains on sustainable growth and strategic investments. Swiggy expects continued margin improvements and eyes contribution breakeven in Q1FY27, demonstrating its path towards profitability.
Key Financial Highlights
Swiggy showcases strong performance in Q3 FY26, demonstrating significant growth and improved financial metrics across its key business segments:
- B2C GOV: Increased by 49% year-over-year to INR 18,122 Cr.
- Adjusted Revenue: Reached INR 3,441 Cr, a 35.9% year-over-year increase.
- Adjusted EBITDA: Improved to INR -712 Cr.
Food Delivery Performance
Food delivery demonstrates accelerated growth and enhanced profitability:
- GOV grew by 20.5% year-over-year, reaching INR 8959 Cr.
- Adjusted EBITDA improved significantly, reaching INR 272 Cr, with margins rising to 3.0% of GOV.
- MTU base has increased to 18.1 Mn.
Quick-Commerce Expansion
Instamart continues to rapidly expand:
- GOV grew by 103.2% year-over-year to INR 7,938 Cr.
- Expanded dark store network to 1136 stores across 131 cities.
- Contribution margin improved and aims for continued operational efficiencies.
Out of Home Consumption
The Out of Home segment showcases growth and improved profitability:
- Near 50% year-over-year growth.
- Adjusted EBITDA margins improved to 0.7%.
- Over 48k restaurants utilizing Swiggy’s services.
Strategic Outlook
Swiggy is focused on long-term growth, aiming for Contribution breakeven in Q1FY27. The company has a strong cash balance of approximately INR 15,900 Cr, enabling strategic investments and continued expansion. The mission remains to elevate the quality of life for urban consumers by providing unparalleled convenience.
Other Key Metrics
- Average Monthly Transacting Users (MTU) grew 36.8% YoY to 24.3 Mn.
- Swiggy has received a strong ESG rating of 78 from NSE Sustainability Ratings & Analytics, placing it in the ‘Leader’ category.
- Swiggy’s delivery partners collectively earned INR 5,558 crore last year.
Source: BSE
