Context
Lower P/B than peers
Trades at 3.39× book — 79% below the e retail e commerce median of 16.03×.
Importance 54 / 95 · valuation
SWIGGY LIMITED · Research view
SWIGGY LIMITED
NSE: SWIGGYBSE: 544285ISIN INE00H001014Face value ₹1consolidated
₹238
−4.88% · 2026-10-01 · 52-wk ₹238–₹448
Financials to FY2026 · 2 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
Concern
Thin interest cover
Operating profit covers interest only -19.70× (FY2026).
Importance 52 / 95 · financial health
Strength
Margins expanding
EBITDA margin improved from -15.7% to -11.8% of revenue.
Importance 39 / 95 · profitability
Section 03 · The company
Who is this company?
Classified by the exchange under Consumer Discretionary › Consumer Services › Retailing › E-Retail/ E-Commerce.
- Market cap
- ₹62,118 cr
- FY2026 revenue
- ₹23,053 cr
- FY2026 net profit
- ₹−4,154 cr
- Net worth
- ₹18,314 cr
- Total debt
- ₹100 cr
- EPS (basic)
- ₹−16.87
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 4 e-retail/ e-commerce.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Revenue grew 51.4% year on year (FY2025 → FY2026).
Rule REVENUE_GREW_YOY
- Revenue growth per year
- +51.4%over 1 years
- Revenue growth
- +51.4%vs last year
- Net profit growth
- —vs last year
- Change in net profit since FY25
- −33%
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 revenue was ₹6,812 cr, up 37.3% from ₹4,961 cr in Q1 FY26 a year earlier.
Rule QTR_REVENUE_GROWTH_YOY
Strength
Q1 FY27 EBITDA margin was -6.4%, up 11.03 percentage points from -17.5% a year earlier.
Rule QTR_MARGIN_CHANGED_YOY
Strength
Q1 FY27 revenue of ₹6,812 cr is the highest of the 8 quarters on record for this company.
Rule QTR_REVENUE_AT_RECORD
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 3,601 | — | −626 | — | −17.4% |
| Q3 FY25 | 3,993 | — | −799 | — | −20.0% |
| Q4 FY25 | 4,410 | — | −1,081 | — | −24.5% |
| Q1 FY26 | 4,961 | — | −1,197 | — | −24.1% |
| Q2 FY26 | 5,561 | +54.4% | −1,092 | +74.6% | −19.6% |
| Q3 FY26 | 6,148 | +54.0% | −1,065 | +33.3% | −17.3% |
| Q4 FY26 | 6,383 | +44.7% | −800 | −26.0% | −12.5% |
| Q1 FY27 | 6,812 | +37.3% | −791 | −33.9% | −11.6% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹24,904 crTTM
- EBITDA
- ₹−2,295 crTTM
- EBIT
- ₹−3,522 crTTM
- PBT
- ₹−3,744 crTTM
- Net profit
- ₹−3,748 crTTM
C. Corporate actions
No verified corporate actions on record for this company.
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Strength
EBITDA margin improved from -15.7% to -11.8% of revenue.
Rule MARGIN_EXPANDED_YOY
- EBITDA margin now
- −11.8%
- 2-year range
- -15.7–-11.8%
- ROE FY2026
- −29.1%
- ROCE FY2026
- −27.5%
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Concern
Operating profit covers interest only -19.70× (FY2026).
Rule INTEREST_COVER_LOW
Operating cash flowNet profit
- Total debt
- ₹100 cr
- Operating cash flow ÷ net profit
- —FY2026
- Free cash flow
- ₹−3,809 cr
- Current ratio
- 3.35×
Section 08 · Relative position
How does it compare with peers?
Ranked against 4 e-retail/ e-commerce (FY2026, consolidated).
Revenue growth
SWIGGY · 2nd of 3 · set median 51.4%
EBITDA margin
SWIGGY · 4th of 4 · set median -1.6%
Return on equity
SWIGGY · 3rd of 4 · set median -14.0%
Context
Trades at 3.39× book — 79% below the e retail e commerce median of 16.03×.
Rule PB_BELOW_PEERS
- P / E
- —TTM to Jun 26
- P / B
- 3.4×latest book
- P / S
- 2.5×TTM sales
- Earnings yield
- −6.0%TTM to Jun 26
On the trailing twelve months. Last full year: · P/S 2.6× · ROE -29.1%. TTM and full-year EBITDA differ by more than 15% — a one-off in a recent quarter is moving the trailing figure; weigh it against the full year.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- −43.0%
- 3-year return
- —
- 5-year return
- —
- From 52-wk high
- −46.9%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹276
- vs 200-day avg
- Below₹293
- RSI (14)
- 27.5oversold
- MACD histogram
- -3.8
- From 52-wk high
- −46.9%
- From 52-wk low
- 0.0%
- 30-day volatility
- 32.4%ann.
- 6-month return
- −8.5%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- ConcernThin interest coverOperating profit covers interest only -19.70× (FY2026).INTEREST_COVER_LOW · conviction 52
- Only 2 annual year(s) of financials loaded — multi-year trend analysis is limited.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY25 | FY26 |
|---|---|---|
| Revenue | 15,227 | 23,053 |
| Total income | 15,623 | 23,561 |
| EBITDA | −2,390 | −2,723 |
| Profit before tax | −3,114 | −4,150 |
| Net profit | −3,117 | −4,154 |
| EPS (₹) | −13.7 | −16.9 |
| Net worth | 10,219 | 18,314 |
| Total debt | 28 | 100 |
| Operating cash flow | −2,169 | −2,898 |
| Free cash flow | −2,913 | −3,809 |
| Ratio | FY25 | FY26 |
|---|---|---|
| Growth | ||
| Revenue growth YoY | — | 51.4 |
| Profit growth YoY | — | — |
| Profitability | ||
| EBITDA margin % | -15.7 | -11.8 |
| Net margin % | -20.0 | -17.6 |
| Return on equity % | -30.5 | -29.1 |
| Return on capital % | -29.3 | -27.5 |
| Leverage & cash | ||
| Debt to equity | 0.00 | 0.01 |
| Cash flow ÷ profit | — | — |
| Current ratio | 2.54 | 3.35 |