Swiggy has reported a robust performance for the quarter and financial year ended March 31, 2026, marked by a 45% surge in overall revenue to INR 6,383 crore. The company achieved a 15-quarter high in food delivery growth, while its quick commerce vertical, Instamart, saw a 68.8% year-on-year increase in Gross Order Value. With losses narrowing by INR 281 crore, Swiggy continues to focus on improving unit economics and operational efficiency.
Financial and Operational Highlights
Swiggy’s food delivery segment remains a primary growth driver, achieving a 22.6% year-on-year (YoY) growth in Gross Order Value (GOV), reaching INR 9,005 crore. The adjusted EBITDA for this segment rose by 39.8% to INR 297 crore. Margin expansion is evident, with adjusted EBITDA margin hitting a lifetime high of 3.3%, reflecting the effectiveness of the company’s “selection-speed-affordability” framework.
Quick Commerce and Expansion
Instamart, the company’s quick commerce platform, demonstrated significant scale with 68.8% YoY growth, reaching a GOV of INR 7,881 crore. The network now spans 129 cities with 1,143 darkstores. Despite an adjusted EBITDA loss of INR 858 crore for the quarter, the platform showed improvement, with contribution margins narrowing to -1.8%. Average order value increased by 32.8% YoY to INR 700, driven by a diversified non-grocery product mix.
Strategic Growth in Out-of-Home Consumption
The company’s Out-of-Home (OOH) segment reached a major milestone, recording its first full year of profitability in FY26. This business line saw a 43% YoY growth in GOV, supported by an adjusted EBITDA margin of 0.8%. Overall platform health remains strong, with Monthly Transacting Users (MTUs) growing by 27.2% YoY to 25.2 million, signaling deep consumer engagement across Swiggy’s integrated services.
Leadership Outlook
Reflecting on the results, Sriharsha Majety, MD & Group CEO, emphasized the company’s progress in unit economics. He noted that the next phase for quick commerce will focus on anticipating consumer needs rather than just fulfillment. With a solid balance sheet, the company remains committed to maintaining a disciplined approach to capital allocation and operational efficiency as it enters FY27.
Source: BSE
