Swiggy’s Q2 FY26 sees 47.6% revenue growth, with total revenue reaching INR 16,683 Cr. Instamart’s growth accelerates to 24.2% QoQ. Adjusted EBITDA improves by INR 118 Cr QoQ. Food delivery continues steady growth at 18.8% YoY and quick commerce sees GOV growth of 107.6% YoY. Board will consider fundraise via QIP route.
Financial Performance
Swiggy’s B2C Gross Order Value (GOV) reached INR 16,683 Cr, marking a 47.6% year-over-year increase. B2C Adjusted Revenue was INR 3,339 Cr, up 40.2% YoY. Consolidated Adjusted EBITDA showed a loss of INR -695 Cr, improving from INR -354 Cr YoY. Average Monthly Transacting Users (MTU) grew 34.0% YoY to 22.9 Mn.
Segment Highlights
Food delivery GOV grew 18.8% YoY to INR 8,542 Cr, with MTUs increasing 17.2% YoY. Adjusted EBITDA improved by 25.4% QoQ to INR 240 Cr. Quick-commerce (Instamart) GOV accelerated to 107.6% YoY, reaching INR 7,022 Cr, with MTUs added. Instamart’s GOV growth accelerates to 24.2% QoQ, the highest in 3 years. Out-of-Home consumption segment grew 52% YoY, clocking a GOV of INR 1118 Cr.
Quick Commerce Expansion
Instamart continues rapid expansion, with the total number of stores now at 1,102, covering 4.6 mn sq ft across 128 cities. Average order value grew ~40% YoY to INR 697. Contribution losses reduced by ~30% QoQ to INR 181 Cr.
Cash Position and Future Plans
The company has INR 4,605 Cr of cash and cash equivalents as of September 30, 2025. The sale of a minority stake in Rapido is expected to add INR 2,400 Cr, bringing the total to ~INR 7,000 Cr. The Swiggy Board will meet on November 7, 2025, to consider a fundraise of up to INR 10,000 Cr through the QIP route.
Sustainability Initiatives
Swiggy received an AA rating in the MSCI ESG Ratings assessment. The company expanded its EV enablement partner network and has scaled up its EV fleet by 7x over the last year, reducing carbon emissions by over 4500 tonnes.
Source: BSE
