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India's second-largest food-delivery platform, also operating Instamart quick-commerce grocery delivery.
India's second-largest food-delivery platform, also operating Instamart quick-commerce grocery delivery.
Takes a commission from restaurants on each order, adds delivery and platform fees paid by customers, and sells advertising to restaurants and brands. Instamart, which delivers groceries from its own small warehouses called dark stores, is the newer and costlier line, with spending on stores weighing on results. Prosus is among the largest shareholders, and the shares were listed in late 2024.
In one line: India's DoorDash plus Instacart.
Moat: narrow (network effects, scale, brand). Second-largest food-delivery network in India with two-sided network effects, but trails Eternal/Zomato in scale.
Headquarters: Bengaluru, India · Founded: 2014 · Employees: 9,350
Size Swiggy (SWIGGY.NS) is an India Industrials company (Air Freight/Couriers) with a market value of $5.61B, the 198th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹191.17 on 6 Nov 2026.
Performance Over six months the shares fell 31.6%, against -3.1% for the median peer and 0.0% for the India market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 42.2% over the last twelve months (peer median +7.4%); the operating margin is -15.3% (peer median 4.2%).
Valuation It trades at 1.8× enterprise value to sales against a peer median of 0.9× (6th most expensive of 21).
Capital Return on invested capital runs 36.9 points below its cost of capital (13.8% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹269B | ₹231B | ₹152B | ₹112B | ₹82.6B |
| Revenue growth | — | +51% | +35% | +36% | — |
| Gross profit | ₹41.7B | ₹5.86B | -₹900M | -₹1.75B | -₹15.7B |
| EBITDA | -₹29.0B | -₹32.3B | -₹27.9B | -₹21.9B | -₹42.7B |
| Net income | -₹35.8B | -₹41.5B | -₹31.2B | -₹23.5B | -₹41.8B |
| Free cash flow | n/a | -₹35.7B | -₹27.9B | -₹15.9B | -₹41.6B |
| Capital expenditure | n/a | ₹9.19B | ₹7.51B | ₹3.52B | ₹1.68B |
| Total debt | ₹25.1B | ₹25.5B | ₹17.0B | ₹8.64B | ₹6.00B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Swiggy SWIGGY.NS | $5.61B | -32% | +42% | -15% | 1.8× | n/a |
| Eternal ETERNAL.NS | $37.1B | +41% | +144% | 0% | 4.5× | n/a |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 3.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SWIGGY.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.3% | +5.3% | lowest of 21 |
| 6-month return | -31.6% | -3.1% | lowest of 21 |
| Distance from 52-week high | -56.0% | -17.6% | lowest of 21 |
| Revenue growth (TTM) | +42.2% | +7.4% | highest of 21 |
| Operating margin | -15.3% | 4.2% | lowest of 20 |
| EV / Sales | 1.8× | 0.9× | 6th most expensive of 21 |
| ROIC minus cost of capital | -36.9 pp | -1.1 pp | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Swiggy SWIGGY.NS | India | $5.61B | -32% | +42% | -15% | 1.8× | n/a | n/a |
| SG Holdings Co., Ltd. 9143.T | Japan | $5.56B | +1% | +14% | 5% | 0.7× | -2.6% | +4.6% |
| Logista Integral LOG.MC | Spain | $5.42B | +15% | +4% | 2% | 0.4× | -5.9% | +5.4% |
| GXO Logistics GXO | United States | $6.33B | +7% | +7% | 3% | 0.9× | 20.2% | +16.3% |
| Yamato 9064.T | Japan | $4.83B | +26% | +2% | 2% | 0.4× | 8.9% | +1.9% |
| Sinotrans 0598.HK | Hong Kong | $6.57B | -8% | +4% | 0% | 0.5× | 9.4% | +2.0% |
| Compagnie de l'Odet ODET.PA | France | $4.74B | -30% | -83% | -8% | 2.3× | 24.3% | -29.4% |
| Eastern Air Logistics 601156.SS | China | $4.70B | +23% | +20% | 14% | 1.2× | -16.0% | +9.9% |
| Yunnan Yuntianhua 600096.SS | China | $7.17B | -28% | -19% | 11% | 1.4× | -1.7% | -1.5% |
| Shanghai Zhonggu Logistics 603565.SS | China | $3.97B | +16% | +4% | 27% | 2.1× | -14.4% | +0.4% |
| Nippon Express Hldgs 9147.T | Japan | $8.22B | +35% | +2% | 3% | 0.7× | 7.9% | +4.4% |
| Antong 600179.SS | China | $3.81B | -7% | +9% | 16% | 2.1× | -4.0% | +13.5% |
| Xiamen C&D 600153.SS | China | $3.77B | -8% | -6% | 1% | 0.5× | 21.2% | +9.3% |
| Jd Logistics 2618.HK | Hong Kong | $9.10B | -29% | +29% | 3% | 0.3× | -0.4% | +23.4% |
| Delhivery DELHIVERY.NS | India | $3.40B | -11% | +24% | 0% | 2.6× | n/a | n/a |
| Huaihe Energy 600575.SS | China | $3.38B | -12% | +38% | n/a | 1.2× | n/a | n/a |
| YTO Express 600233.SS | China | $9.63B | -13% | +8% | 9% | 0.8× | -12.2% | +16.6% |
| Ryder System R | United States | $10.2B | +11% | +3% | 8% | 1.4× | 7.9% | +8.5% |
| Aegis Vopak Terminals AEGISVOPAK.NS | India | $2.89B | +14% | +17% | 53% | 33.1× | n/a | n/a |
| Hyundaiglovis 086280.KS | South Korea | $10.9B | -13% | +12% | 6% | 0.5× | -10.8% | +12.3% |
| ID Logistics IDL.PA | France | $2.80B | +7% | +16% | 4% | 1.0× | 10.4% | +17.9% |