# Swiggy (SWIGGY) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/swiggy

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹191.17
- Change: +0.88%
- As of: 2026-11-06
- 1D return: +0.88%
- 5D return: +8.25%
- 1M return: -18.63%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

SWIGGY (₹191.17) remains in a strong bearish trend across daily, weekly, and monthly timeframes, with price trading below all key moving averages and the Supertrend indicator. The daily ADX of 50.81 confirms high trend conviction despite recent volatility. A moderate upward gap on November 5 (+5.9%) provided a short-term bounce, but this follows an extreme downward move on October 23 characterized by a -16.7% return and 12.54x volume ratio, signaling significant selling pressure. The stock is positioned near the lower end of its 252-day range (+6.5%) and has suffered a current drawdown of -65.6%. Immediate resistance lies at ₹193.18 (1.05% above), while support is found at ₹186.92 (2.22% below). Annualized volatility stands at +44.9%, indicating substantial price swings.

- Trend Structure: Bearish across all horizons; price is below EMA/SMA 20/50/200 and Supertrend. Daily ADX (50.81) indicates strong trend strength.
- Recent Activity: Moderate upward gap (+5.9%) on Nov 5 contrasts with extreme sell-off on Oct 23 (-16.7% return, 12.54x volume).
- Key Levels: Resistance at ₹193.18 and ₹196.84; Support at ₹186.92 and ₹183.26.
- Risk Profile: Current drawdown of -65.6%; annualized volatility of +44.9%; trading near 252-day low (+6.5% from bottom).

- Bullish Engulfing Reversal
- Outside Bar
- Shooting Star
- Doji
- Inside Bar

### News Context

In the seven-day window ending November 6, 2026, Swiggy’s most material development was a product integration with JioHotstar. On November 2, JioHotstar launched 'StreamToCart Ads,' an interactive advertising format powered by Instamart that allows viewers to browse and add FMCG, beauty, and electronics products to their shopping carts directly within the streaming interface while playback continues. This initiative links brand storytelling with measurable commercial outcomes through Swiggy’s commerce network.

Separately, on November 3, SMIFS brokerages highlighted Swiggy in a list of stocks with upside potential for Diwali 2026 portfolios, citing a 104% upside potential based on analyst estimates. These views are attributed to Sebi-registered analysts and should not be construed as investment advice. Broader market context included a structural shift where Domestic Institutional Investors (DIIs) overtook Foreign Institutional Investors (FIIs) in Nifty 50 ownership, reaching a 16-quarter high of 25.8% as of November 5, according to Elara Securities data.

- {'date': '2026-11-02', 'development': 'JioHotstar launched StreamToCart Ads, integrating Instamart into its streaming platform to enable in-stream shopping for categories like FMCG and consumer electronics.'}
- {'date': '2026-11-03', 'development': 'SMIFS brokerages identified Swiggy among top picks for Diwali 2026, citing an estimated 104% upside potential; these are third-party analyst views, not confirmed outcomes.'}
- {'context': 'Domestic institutional investors increased their Nifty 50 ownership to a 16-quarter high of 25.8%, overtaking FIIs who held 22.1%, per Elara Securities data.', 'date': '2026-11-05'}

- [DIIs overtake FIIs in Nifty 50 ownership as domestic share hits 16-quarter high](https://www.cnbctv18.com/market/diis-overtake-fiis-nifty-50-holdings-domestic-investors-alpha-article-20027843.htm)
- [Stock market today: Suzlon, PB Fintech, PFC, Mazagon among 17 stocks that may see short covering](https://www.businesstoday.in/markets/stocks/story/stock-market-today-suzlon-pb-fintech-pfc-mazagon-among-17-stocks-that-may-see-short-covering-565792-2026-11-05)
- [India's stock market volatility since last Diwali saw 60 stocks lose up to 96%](https://economictimes.indiatimes.com/markets/stocks/news/indias-stock-market-volatility-since-last-diwali-saw-60-stocks-lose-up-to-96/articleshow/135520842.cms)
- [Hunting for Diwali winners? 8 brokerages name 58 stocks with big upside potential; Eternal, L&T among top picks](https://economictimes.indiatimes.com/markets/stocks/news/hunting-for-diwali-winners-8-brokerages-name-58-stocks-with-big-upside-potential-eternal-lt-among-top-picks/articleshow/135482521.cms)
- [JioHotstar launches StreamToCart Ads, enabling in-stream shopping through Instamart](https://economictimes.indiatimes.com/industry/media/entertainment/media/jiohotstar-launches-streamtocart-ads-enabling-in-stream-shopping-through-instamart/articleshow/135450367.cms)

### Official Filings

Swiggy Limited reported unaudited financial results for Q2 FY27 (ended September 30, 2026), highlighting a significant reduction in losses alongside strategic operational updates. The Group recorded a loss before tax of ₹922 crore for the quarter, an improvement from ₹791 crore in Q2 FY26, and ₹1,712 crore for the half-year, down from ₹2,287 crore in H1 FY25. Revenue from operations reached ₹7,571 crore for the quarter. A key structural change was the deconsolidation of Lynks Logistics Limited following its sale to Trustroot Internet Private Limited for ₹500 crore via preference shares, effective September 15, 2026.

Management provided specific guidance for Instamart, citing 13.4% quarter-on-quarter growth in Net Order Value and the addition of 1.3 million Monthly Transacting Users. Core food delivery growth is guided at 18-20% for the full year with a steady-state Adjusted EBITDA margin target of 5% of Gross Order Value. Quick commerce contribution margins are guided between 0 to -100 basis points, aiming for sequential improvement. The new 'Toing' platform requires two additional quarters to validate unit economics broadly, though early cities show positive economics for repeat users. Governance-wise, the Board approved the re-appointment of Mr. Anand Kripalu and Ms. Suparna Mitra as Independent Directors, subject to shareholder approval via postal ballot scheduled from October 29 to November 27, 2026.

- Q2 FY27 Loss Before Tax: ₹922 crore (Quarter) / ₹1,712 crore (Half-Year), compared to ₹791 crore and ₹2,287 crore respectively in the prior year periods.
- Lynks Logistics Deconsolidation: Sold to Trustroot Internet Private Limited for ₹500 crore via preference shares, effective September 15, 2026.
- Instamart Growth & Guidance: 13.4% QoQ growth in Net Order Value; added 1.3 million MTUs. Full-year core food delivery growth guided at 18-20% with 5% Adjusted EBITDA margin on GOV.
- Quick Commerce & Toing Status: Contribution margins guided at 0 to -100 basis points with expected improvement. 'Toing' platform needs two more quarters for broad unit-economics validation despite positive early-city metrics.
- Governance Update: Re-appointment of Independent Directors Mr. Anand Kripalu (term Dec 2026–Dec 2031) and Ms. Suparna Mitra (term Apr 2027–Mar 2032) pending shareholder approval via postal ballot (Oct 29–Nov 27, 2026).

- [Swiggy Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026153805_SE_Intimation_-_Earnings_call_Transcript_signed.pdf)
- [Swiggy Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261029_155709869.xml)
- [Swiggy Limited has informed the Exchange about Copy of Newspaper Publication of Postal Ballot Notice and E-Voting intimation to Members. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026165611_SE_Intimation_Postal_Ballot_Newspaper_advertisement_signed.pdf)
- [Swiggy Limited has informed the Exchange regarding Notice of Postal Ballot |SUBJECT: Shareholders meeting](https://nsearchives.nseindia.com/corporate/SWIGGY_28102026133049_SE_Intimation_Postal_Ballot_signed.pdf)
- [Swiggy Limited has informed the Exchange about Notice of Shareholders Meeting for Postal Ballot |SUBJECT: Notice Of Shareholders Meetings-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_23714_WebXMLFile_20261028_135221238.xml)
- [Swiggy Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SWIGGY_23102026112819_Earnings_call_outcome.pdf)
- [Swiggy Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261023_120515636.xml)
- [Swiggy Limited has informed the Exchange about Copy of Newspaper Publication Unaudited Financial Results (consolidated & standalone) for the quarter and half year ended September 30, 2026 |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SWIGGY_23102026153154_Newspaper_publication.pdf)
- [Swiggy Limited has submitted to the Exchange, the financial results for the quarter & half year ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026154451_SE_intimation_Financials_Signed.pdf)
- [Swiggy Limited has informed the Exchange regarding the re-appointment of Mr. Anand Kripalu & Ms. Suparna Mitra as Non-Executive Independent Director of the Company |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026155040_SE_intimation_-_Outcome_-_Other_matters_Signed.pdf)

### Fundamentals

Swiggy’s Q2 FY2026-27 results (ending Sep 2026) reveal a company scaling revenue rapidly while absorbing significant near-term profitability costs. Revenue from operations rose sequentially to ₹7,571 crore, up 36% year-on-year, with total income reaching ₹7,783 crore. However, expenses surged to ₹8,703 crore, driving a sequential widening of losses: Net Profit fell to -₹922 crore (from -₹791 crore in Q1), and Basic Earnings Loss Per Share worsened to -₹3.45 per share (from -₹2.96). The TTM net loss stands at -₹3,578 crore.

Financial health remains supported by strong cash generation efficiency despite negative absolute flows; CFO/EBITDA improved to 89% for Mar 2026, indicating high operating profit conversion. Financing activities provided substantial liquidity, with Cash from Financing Activity jumping to ₹9,397 crore in Mar 2026. Balance sheet assets grew to ₹25,438 crore as of Sep 2026, though equity diluted to ₹16,970 crore due to accumulated losses. Working capital days expanded significantly to 66 days (Mar 2026), suggesting increased working capital intensity. Institutional ownership shifted notably, with DIIs increasing their stake to 34.49% in Sep 2026, while FIIs reduced theirs to 8.86%.

The critical checkpoint is whether the company can stabilize operating margins as expenses continue to outpace revenue growth, particularly given the rising finance costs (₹54 crore in Q2) and interest burden (₹218 crore TTM).

- Revenue Growth vs. Loss Widening: Sales grew 36% YoY to ₹7,571 crore in Q2 FY26-27, but Net Loss widened sequentially to -₹922 crore as expenses jumped to ₹8,703 crore.
- Cash Flow Efficiency: CFO/EBITDA ratio improved to 89% (Mar 2026), showing strong operational cash conversion despite negative absolute CFO (-₹2,898 crore TTM).
- Balance Sheet & Liquidity: Total Assets reached ₹25,438 crore (Sep 2026); Equity declined to ₹16,970 crore due to losses, while Liabilities increased to ₹8,468 crore.
- Working Capital Pressure: Working Capital Days expanded sharply to 66 days (Mar 2026) from 21 days (Mar 2025), indicating higher capital tied up in operations.

### Bear Case

Swiggy’s equity performance as of November 6, 2026, reflects a severe deterioration in price action and investor sentiment. The stock is trading at ₹191.17 on the NSE, marking a year-to-date decline of 51.1% and a one-year loss of 52.7%. Technical indicators across daily, weekly, and monthly timeframes are uniformly bearish, with the Supertrend direction signaling weakness and negative slopes in both the 20-day and 50-day moving averages. The stock has suffered a maximum drawdown of 68.4%, with the current drawdown standing at -65.6%, indicating persistent downward pressure. High annualized volatility of 44.9% and an Average True Range (ATR) of 4.97% suggest significant price instability. While brokerages have identified upside potential for Diwali 2026, these views are distinct from the observed market reality of substantial capital erosion and technical breakdown.

- Severe underperformance: The stock has declined 51.1% year-to-date and 52.7% over the past year, with a current drawdown of -65.6% against a maximum historical drawdown of -68.4%.
- Bearish technical setup: Daily, weekly, and monthly trends all show a 'bearish' Supertrend direction, with negative slopes in key moving averages (EMA-20 slope -11.9; SMA-50 slope -9.83) and ADX values indicating strong trend strength in the downward direction.
- Elevated volatility: Annualized volatility stands at 44.9% with an ATR of 4.97%, reflecting high price instability and risk for holders.
- Market context divergence: Despite structural shifts in institutional ownership favoring domestic investors (DIIs at 25.8%), Swiggy remains among stocks that have experienced significant value destruction, contrasting with broader brokerage recommendations for other equities.

- [DIIs overtake FIIs in Nifty 50 ownership as domestic share hits 16-quarter high](https://www.cnbctv18.com/market/diis-overtake-fiis-nifty-50-holdings-domestic-investors-alpha-article-20027843.htm)
- [Stock market today: Suzlon, PB Fintech, PFC, Mazagon among 17 stocks that may see short covering](https://www.businesstoday.in/markets/stocks/story/stock-market-today-suzlon-pb-fintech-pfc-mazagon-among-17-stocks-that-may-see-short-covering-565792-2026-11-05)
- [India's stock market volatility since last Diwali saw 60 stocks lose up to 96%](https://economictimes.indiatimes.com/markets/stocks/news/indias-stock-market-volatility-since-last-diwali-saw-60-stocks-lose-up-to-96/articleshow/135520842.cms)
- [Hunting for Diwali winners? 8 brokerages name 58 stocks with big upside potential; Eternal, L&T among top picks](https://economictimes.indiatimes.com/markets/stocks/news/hunting-for-diwali-winners-8-brokerages-name-58-stocks-with-big-upside-potential-eternal-lt-among-top-picks/articleshow/135482521.cms)
- [JioHotstar launches StreamToCart Ads, enabling in-stream shopping through Instamart](https://economictimes.indiatimes.com/industry/media/entertainment/media/jiohotstar-launches-streamtocart-ads-enabling-in-stream-shopping-through-instamart/articleshow/135450367.cms)
- [Swiggy Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026153805_SE_Intimation_-_Earnings_call_Transcript_signed.pdf)
- [Swiggy Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261029_155709869.xml)
- [Swiggy Limited has informed the Exchange about Copy of Newspaper Publication of Postal Ballot Notice and E-Voting intimation to Members. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026165611_SE_Intimation_Postal_Ballot_Newspaper_advertisement_signed.pdf)
- [Swiggy Limited has informed the Exchange regarding Notice of Postal Ballot |SUBJECT: Shareholders meeting](https://nsearchives.nseindia.com/corporate/SWIGGY_28102026133049_SE_Intimation_Postal_Ballot_signed.pdf)
- [Swiggy Limited has informed the Exchange about Notice of Shareholders Meeting for Postal Ballot |SUBJECT: Notice Of Shareholders Meetings-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_23714_WebXMLFile_20261028_135221238.xml)

### FAQs

**What are Swiggy's latest financial growth metrics and profitability guidance?**

In Q2 FY27, Swiggy reported a 13.4% quarter-on-quarter growth in Net Order Value (NOV) for Instamart, adding 1.3 million Monthly Transacting Users. The company maintains full-year core food delivery growth guidance of 18-20% and targets a steady-state Adjusted EBITDA margin of 5% of Gross Order Value. For quick commerce, contribution margins are guided between 0 to -100 basis points, with an aim for 100 basis points of Adjusted EBITDA improvement in the current quarter.

**How is Swiggy performing technically and what are the key price levels?**

As of November 6, 2026, Swiggy trades at ₹191.17, reflecting a significant decline from its listing, with a year-to-date return of -51.1% and a maximum drawdown of -68.4%. Technical indicators show a bearish trend across daily, weekly, and monthly timeframes. Immediate resistance sits at ₹193.18, while support levels are identified at ₹186.92 and ₹183.26. The stock exhibits high volatility with an annualized volatility of +44.9%.

**What corporate governance actions are pending for shareholders?**

Swiggy has filed notices for a postal ballot seeking shareholder approval to re-appoint Mr. Anand Kripalu as Non-Executive, Independent Director & Chairman for a second term (December 4, 2026, to December 3, 2031), and Ms. Suparna Mitra as Non-Executive, Independent Director for a second term (April 1, 2027, to March 31, 2032). The remote e-voting period runs from October 29, 2026, to November 27, 2026, with results expected by November 30, 2026.

**Are there any new product developments or external analyst views?**

JioHotstar has launched 'StreamToCart Ads,' an interactive advertising format powered by Instamart that allows viewers to add products to shopping carts directly within streaming interfaces. Regarding market sentiment, SMIFS highlighted Swiggy with a 104% upside potential in a list of Diwali 2026 portfolio picks; however, these views belong to respective SEBI-registered analysts and should not be construed as investment advice.

- [DIIs overtake FIIs in Nifty 50 ownership as domestic share hits 16-quarter high](https://www.cnbctv18.com/market/diis-overtake-fiis-nifty-50-holdings-domestic-investors-alpha-article-20027843.htm)
- [Stock market today: Suzlon, PB Fintech, PFC, Mazagon among 17 stocks that may see short covering](https://www.businesstoday.in/markets/stocks/story/stock-market-today-suzlon-pb-fintech-pfc-mazagon-among-17-stocks-that-may-see-short-covering-565792-2026-11-05)
- [India's stock market volatility since last Diwali saw 60 stocks lose up to 96%](https://economictimes.indiatimes.com/markets/stocks/news/indias-stock-market-volatility-since-last-diwali-saw-60-stocks-lose-up-to-96/articleshow/135520842.cms)
- [Hunting for Diwali winners? 8 brokerages name 58 stocks with big upside potential; Eternal, L&T among top picks](https://economictimes.indiatimes.com/markets/stocks/news/hunting-for-diwali-winners-8-brokerages-name-58-stocks-with-big-upside-potential-eternal-lt-among-top-picks/articleshow/135482521.cms)
- [JioHotstar launches StreamToCart Ads, enabling in-stream shopping through Instamart](https://economictimes.indiatimes.com/industry/media/entertainment/media/jiohotstar-launches-streamtocart-ads-enabling-in-stream-shopping-through-instamart/articleshow/135450367.cms)
- [Swiggy Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026153805_SE_Intimation_-_Earnings_call_Transcript_signed.pdf)
- [Swiggy Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261029_155709869.xml)
- [Swiggy Limited has informed the Exchange about Copy of Newspaper Publication of Postal Ballot Notice and E-Voting intimation to Members. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026165611_SE_Intimation_Postal_Ballot_Newspaper_advertisement_signed.pdf)
- [Swiggy Limited has informed the Exchange regarding Notice of Postal Ballot |SUBJECT: Shareholders meeting](https://nsearchives.nseindia.com/corporate/SWIGGY_28102026133049_SE_Intimation_Postal_Ballot_signed.pdf)
- [Swiggy Limited has informed the Exchange about Notice of Shareholders Meeting for Postal Ballot |SUBJECT: Notice Of Shareholders Meetings-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_23714_WebXMLFile_20261028_135221238.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹186.92
- Risk regime: Higher Price Risk

### Support levels
- 174.35
- 183.25666666666663
- 177.0033333333333

### Resistance levels
- 287.625
- 293
- 351.25

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.88% |
| return_10 | +8.62% |
| return_1m | -21.72% |
| return_1y | -52.67% |
| return_20 | -18.63% |
| return_3m | -33.77% |
| return_5 | +8.25% |
| return_6m | -31.69% |
| return_since_start | -64.75% |
| return_ytd | -51.07% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -68.37% |
| annualized_volatility | +44.92% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Swiggy Limited Q2 FY2026-27: Revenue grows 36% year on year

Swiggy’s revenue from operations rose 36.1% year on year and 11.1% from Q1 FY2026-27 to ₹7,571 crore in the quarter ended 30 September 2026. The consolidated loss for the period narrowed year on year to ₹922 crore but widened from ₹791 crore in the preceding quarter, as expenses grew slightly faster than revenue sequentially.

## Revenue growth and expenses

Total income increased 10.8% sequentially to ₹7,783 crore, including ₹212 crore of other income. Total expenses rose 11.4% to ₹8,703 crore, an increase of ₹890 crore from Q1 FY2026-27. Profit before tax was a loss of ₹920 crore, compared with a loss of ₹790 crore in Q1.

Expenses included ₹3,607 crore of purchases of stock in trade, a ₹164 crore reduction from changes in inventories, ₹676 crore of employee benefit expense and ₹308 crore of depreciation and amortisation. Year on year, revenue increased 36.1% while expenses rose 29.7%; the loss for the period narrowed from ₹1,092 crore in Q2 FY2025-26.

## Loss per share and equity

Basic and diluted loss per share from continuing operations was ₹3.45 in Q2 FY2026-27, compared with ₹2.96 in Q1 FY2026-27 and ₹4.59 in Q2 FY2025-26. Paid-up equity share capital was ₹262 crore at 30 September 2026, unchanged from 30 June 2026.

Total equity stood at ₹16,970 crore at 30 September 2026, down from ₹18,314 crore at 31 March 2026.

## Cash flows and liquid balances

Cash flow from operating activities was an outflow of ₹938 crore in the quarter. Investing activities provided ₹1,389 crore, while financing activities used ₹460 crore. Reported free cash flow was ₹451 crore.

Cash and cash equivalents were ₹2,736 crore at 30 September 2026, compared with ₹2,747 crore at 31 March 2026. Over the same period, current investments declined from ₹3,269 crore to ₹2,943 crore, and other bank balances fell from ₹1,296 crore to ₹436 crore.

## Assets, receivables and payables

Total assets edged up to ₹25,438 crore at 30 September 2026 from ₹25,237 crore at 31 March 2026, while noncurrent assets declined from ₹8,910 crore to ₹7,805 crore.

Trade receivables increased to ₹5,124 crore from ₹4,048 crore at the March year-end date. Trade payables rose to ₹3,558 crore from ₹2,278 crore; ₹3,316 crore was due to creditors other than micro and small enterprises. Inventories stood at ₹228 crore.

## Key Takeaway

Revenue growth remained strong year on year, and the loss narrowed against Q2 FY2025-26. But the sequential increase in expenses outpaced revenue growth, widening the loss from Q1; operating cash flow was also negative, while receivables and payables were higher than at the March year-end.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q2
- As of: 2026-09-30
- Promoter holding: +0.00%
- FII holding: +8.86%
- DII holding: +34.49%
- Mutual fund holding: +29.00%
- Retail holding: +6.65%
- Promoter pledged: +0.00%

### Major reported shareholders

- MIH INDIA FOOD HOLDINGS BV — +21.06%
- SVF II SONGBIRD (DE) LLC — +6.26%
- SBI Large & Midcap Fund — +5.12%
- SWIGGY EMPLOYEE STOCK OPTION TRUST — +4.98%
- Kotak Midcap Fund — +4.59%
- SRI HARSHA MAJETY — +4.58%
- Nippon Life India Trustee Ltd-A/C Nippon India Multi Cap Fund — +4.21%
- ICICI Prudential Multi-Asset Fund — +4.12%
- Mirae Asset Large & Midcap Fund — +2.60%
- TENCENT CLOUD EUROPE B.V. — +1.97%

## Official filings

- 2026-10-29 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026153805_SE_Intimation_-_Earnings_call_Transcript_signed.pdf)
- 2026-10-29 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261029_155709869.xml)
- 2026-10-29 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_29102026165611_SE_Intimation_Postal_Ballot_Newspaper_advertisement_signed.pdf)
- 2026-10-28 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_28102026133049_SE_Intimation_Postal_Ballot_signed.pdf)
- 2026-10-28 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_23714_WebXMLFile_20261028_135221238.xml)
- 2026-10-23 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_23102026112819_Earnings_call_outcome.pdf)
- 2026-10-23 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261023_120515636.xml)
- 2026-10-23 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_23102026153154_Newspaper_publication.pdf)
- 2026-10-22 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026154451_SE_intimation_Financials_Signed.pdf)
- 2026-10-22 — Management Change: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026155040_SE_intimation_-_Outcome_-_Other_matters_Signed.pdf)
- 2026-10-22 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026155201_Covering_Letter_Letter_to_Shareholders_Signed.pdf)
- 2026-10-22 — Press Release: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026155420_Covering_Letter_Press_Release_Signed.pdf)
- 2026-10-22 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_23714_WebXMLFile_20261022_161814298.xml)
- 2026-10-22 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_22102026183434_SE_Monitoring_Agency_Report_signed.pdf)
- 2026-10-22 — Financial Results Filing: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744174_22102026064058_WEB.xml)
- 2026-10-22 — Financial Results Filing: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1744176_22102026064114_WEB.xml)
- 2026-10-16 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_16102026153419_SE_Intimation_Completion_of_sale.pdf)
- 2026-10-12 — Shareholding Disclosure: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1735908_12102026125855_WEB.xml)
- 2026-10-09 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_09102026190644_SE_Intimation_Reg_74_5__Signed.pdf)
- 2026-10-08 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_23714_WebXMLFile_20261008_111053594.xml)
- 2026-10-07 — Board Meeting Notice: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_07102026184612_Swiggy_Board_Meeting_Notice_Signed.pdf)
- 2026-10-07 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/SWIGGY_07102026185956_Earningscall_Q2FY27_Signed.pdf)
- 2026-10-07 — Generic Announcement: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_23714_WebXMLFile_20261007_190606841.xml)
- 2026-10-07 — Board Meeting Notice: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_23714_WebXMLFile_20261007_190606841.xml)
- 2026-10-05 — Press Release: Swiggy Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CSSWIGGY_05102026224939_Clarification_Stock-Exchange-Intimation_Noice.pdf)

## News and market events

- 2026-11-07 — The Hindu: **Muted markets, active managers: How equity MFs recast their portfolios in this Samvat** — Indian actively-managed equity funds attracted net inflows of ₹5.2 lakh crore and increased assets under management from ₹31 lakh crore to ₹35.4 lakh crore during the period between Diwali 2025 and Diwali 2026, leading to significant portfolio reshuffling across sectors. — [Source](https://www.thehindubusinessline.com/portfolio/mutual-funds/muted-markets-active-managers-how-equity-mfs-recast-their-portfolios-in-this-samvat/article71677679.ece)
- 2026-11-05 — CNBC-TV18: **DIIs overtake FIIs in Nifty 50 ownership as domestic share hits 16-quarter high** — Domestic institutional investors have overtaken foreign institutional investors in Nifty 50 ownership, with their stake rising to a 16-quarter high of 25.8% while FII holdings fell to a 16-quarter low of 22.1%, according to Elara Securities data. This structural shift is evident across broader market indices and specific sectors, as domestic funds increased exposure in banking, auto, and IT stocks while reducing foreign reliance in mid-cap and small-cap segments. — [Source](https://www.cnbctv18.com/market/diis-overtake-fiis-nifty-50-holdings-domestic-investors-alpha-article-20027843.htm)
- 2026-11-05 — BUSINESSTODAY: **Stock market today: Suzlon, PB Fintech, PFC, Mazagon among 17 stocks that may see short covering** — Bajaj Broking identified 17 F&O stocks, including Suzlon Energy, UPL, and PFC, as potential candidates for short-covering activity on November 5, citing a strong gap-up opening in Gift Nifty and derivative metrics showing elevated open interest alongside weak price action. The brokerage highlighted that stocks like UPL and Policybazaar exhibit positioning conditions that could trigger unwinding of short bets, while also noting breakout or resistance scenarios for other equities based on call open interest levels. Bajaj Broking cautioned that these observations are informational, do not constit — [Source](https://www.businesstoday.in/markets/stocks/story/stock-market-today-suzlon-pb-fintech-pfc-mazagon-among-17-stocks-that-may-see-short-covering-565792-2026-11-05)
- 2026-11-04 — Economic Times: **India's stock market volatility since last Diwali saw 60 stocks lose up to 96%** — An analysis of India's stock market volatility since last Diwali reveals that at least 63 stocks with a market capitalization exceeding Rs 1,000 crore have lost more than half their value, with some plunging up to 96%. This broad-based selloff has affected companies across sectors including renewable energy, infrastructure, technology, and consumer goods, driven by factors such as foreign investor selling, rising crude oil prices, geopolitical tensions, and expensive valuations. While benchmark indices have seen periodic recoveries, the divergence highlights significant pressure on individual — [Source](https://economictimes.indiatimes.com/markets/stocks/news/indias-stock-market-volatility-since-last-diwali-saw-60-stocks-lose-up-to-96/articleshow/135520842.cms)
- 2026-11-03 — Economic Times: **Hunting for Diwali winners? 8 brokerages name 58 stocks with big upside potential; Eternal, L&T among top picks** — Eight brokerages have identified 58 stocks across sectors such as banking, IT, and defence for Diwali 2026 portfolios, with Eternal, L&T, and Indian Hotels emerging as the most widely recommended picks. SMIFS highlighted the highest upside potential in its list, citing TVS Supply Chain Solutions at 116% and Swiggy at 104%, while other firms like ICICI Direct and Axis Direct also provided specific target prices and growth estimates. The article includes standard disclosures that these views belong to respective Sebi-registered analysts and should not be construed as investment advice. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/hunting-for-diwali-winners-8-brokerages-name-58-stocks-with-big-upside-potential-eternal-lt-among-top-picks/articleshow/135482521.cms)
- 2026-11-02 — Economic Times: **JioHotstar launches StreamToCart Ads, enabling in-stream shopping through Instamart** — JioHotstar has launched StreamToCart Ads, an interactive in-stream advertising format powered by Instamart that enables viewers to browse products and add them to shopping carts directly within the streaming interface while playback continues. The initiative integrates with Swiggy's commerce network to facilitate fulfilment and targets categories such as FMCG, packaged foods, beauty, and consumer electronics, aiming to link brand storytelling with measurable commercial outcomes. — [Source](https://economictimes.indiatimes.com/industry/media/entertainment/media/jiohotstar-launches-streamtocart-ads-enabling-in-stream-shopping-through-instamart/articleshow/135450367.cms)
- 2026-11-02 — Economic Times: **Nifty’s comeback or a largecap trap? Anand James decodes breadth, IT and Swiggy** — Anand James of Geojit Investments issued buy recommendations for SUNPHARMA and PRICOLLTD with specific price targets and stop-losses, while assessing Swiggy for a potential mean reversion upmove due to bearish exhaustion. — [Source](https://economictimes.indiatimes.com/markets/expert-view/niftys-comeback-or-a-largecap-trap-anand-james-decodes-breadth-it-and-swiggy/articleshow/135443410.cms)
- 2026-10-31 — Mint: **Why Swiggy’s Toing is raising questions over food-delivery profitability | Company Business News** — Swiggy Ltd's launch of its affordable-meal app, Toing, is raising questions among analysts regarding the company's ability to expand its customer base without diluting the profitability of its core business. Analysts are questioning whether the new app can drive incremental demand without adding to the company's costs. — [Source](https://www.livemint.com/companies/news/why-swiggy-s-toing-is-raising-questions-over-food-delivery-profitability-11793292907260.html)
- 2026-10-30 — MONEYCONTROL: **Block Deals: Tencent Holdings exits Swiggy for Rs 982 crore** — Tencent Holdings has exited its holding in Swiggy via a block deal worth Rs 982 crore, as reported under the Block Deals segment. — [Source](https://www.moneycontrol.com/news/business/markets/block-deals-tencent-holdings-exits-swiggy-for-rs-982-crore-14064794.html)
- 2026-10-30 — BUSINESSTODAY: **Swiggy block deal: Rs 982 crore worth shares change hands; key details** — Following Swiggy Ltd's reported loss in the September quarter, several brokerages including Goldman Sachs, HSBC, CLSA, Bernstein, UBS, JPMorgan, Citi, JM Financial, Ambit Capital, and Macquarie revised their price targets downwards. JM Financial specifically cited concerns regarding Instamart's profitability and Toing's strategic rationale as reasons for its downgrade. — [Source](https://www.businesstoday.in/markets/stocks/story/swiggy-block-deal-rs-982-crore-worth-shares-change-hands-key-details-564684-2026-10-30)
- 2026-10-29 — BUSINESSTODAY: **ITC, Mazagon Dock, Swiggy, L&T among top Diwali picks for Samvat 2083 for upto 115% upside** — Brokerage firm SMIFS issued positive stock picks for ITC Ltd, Larsen & Toubro Ltd, Mazagon Dock Shipbuilders Ltd, Olectra Greentech Ltd, Swiggy Ltd, and TVS Supply Chain Solutions Ltd ahead of Samvat 2083, assigning specific target prices and upside potentials based on fundamental valuations and growth visibility. — [Source](https://www.businesstoday.in/markets/trending-stocks/story/itc-mazagon-dock-swiggy-lt-among-top-diwali-picks-for-samvat-2083-for-upto-115-upside-564558-2026-10-29)
- 2026-10-27 — Mint: **Where are mutual funds investing your money? These stocks saw the biggest buying in September 2026. Check full list | Mint** — Mutual funds bought shares worth thousands of crores in September 2026. Reliance Industries, Swiggy and Gland Pharma led purchases across large-, mid- and small-cap categories. Check the top five stocks in each segment, according to Value Research. — [Source](https://www.livemint.com/money/personal-finance/where-are-mutual-funds-investing-your-money-these-stocks-saw-the-biggest-buying-in-september-2026-check-full-list-11793106475931.html)
- 2026-10-27 — The Hindu: **Swiggy renews insurance cover for 25 lakh delivery partners with IndusInd General Insurance** — Swiggy renews a comprehensive insurance plan with IndusInd General Insurance for over 25 lakh delivery partners, offering extensive health and accidental death coverage. — [Source](https://www.thehindubusinessline.com/money-and-banking/swiggy-renews-insurance-cover-for-25-lakh-delivery-partners-with-indusind-general-insurance/article71630369.ece)
- 2026-10-27 — MONEYCONTROL: **Buy Swiggy; target of Rs 310: Emkay Global Financial** — Buy Swiggy; target of Rs 310: Emkay Global Financial Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Allotment Jio IPO Listing Date Israel Elections 2026 live Microsoft Buyout news Gyanesh Kumar Benjamin Netanyahu Noel Tata Ather Share Price Anthropic IPO News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans up to — [Source](https://www.moneycontrol.com/news/business/stocks/buy-swiggy-target-of-rs-310-emkay-global-financial-14061166.html)
- 2026-10-27 — CNBC-TV18: **Gig worker insurance: What Swiggy and Zomato cover for delivery partners** — Swiggy and Zomato offer delivery partners comprehensive insurance benefits, including accident and health coverage, amid new gig worker social security rules. — [Source](https://www.cnbctv18.com/personal-finance/gig-worker-insurance-what-swiggy-zomato-cover-for-delivery-partners-20019933.htm)
- 2026-10-26 — BUSINESSTODAY: **Swiggy’s discount dilemma is back: Focus on growth or profitability?** — For most of the past year, Swiggy told investors that it would not compete on price in quick commerce. — [Source](https://www.businesstoday.in/latest/corporate/story/swiggys-discount-dilemma-is-back-focus-on-growth-or-profitability-563694-2026-10-26)
- 2026-10-26 — Mint: **Swiggy shares rise 6% after 4-session down episode; is this a relief rally or worst is over? Experts decode | Target, SL** — Swiggy share price today opened at ₹176 apiece and touched an intraday high of ₹186.65 per share, logging 6% gain against the previous close of ₹176 — [Source](https://www.livemint.com/market/stock-market-news/swiggy-shares-rise-6-after-4-session-down-episode-is-this-a-relief-rally-or-worst-is-over-experts-decode-target-sl-11792998360954.html)
- 2026-10-26 — Economic Times: **Nifty risks 21,500, HDFC Bank eyes ₹640, IT rally shows fatigue: Anand James** — Indian equities could face another leg of weakness unless the Nifty reclaims 22,800 early next week, with the index strategist Anand James warning that a break below the 22,000–22,070 support zone could open the way towards 21,500. He also sees HDFC Banks long-term bullish structure as broken, with the stock vulnerable to ₹640, while the recent IT rebound appears more like a relief rally than a durable sector rotation. — [Source](https://economictimes.indiatimes.com/markets/expert-view/nifty-risks-21500-hdfc-bank-eyes-640-it-rally-shows-fatigue-anand-james/articleshow/135201103.cms)
- 2026-10-25 — Economic Times: **F&O Talk: Nifty plunged 2% this week. Do charts indicate a bearish picture for coming week?** — SBI Securities Sudeep Shah expects continued weakness in Indian equities as FII positioning, rising volatility and technical indicators point to further pressure. He identifies key Nifty support and resistance levels and flags IT as a relatively stronger sector. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/fo-talk-nifty-plunged-2-this-week-do-charts-indicate-a-bearish-picture-for-coming-week/articleshow/135186474.cms)
- 2026-10-25 — Economic Times: **Swiggymayrebound to Rs 190, butchartsdonotsignal a trendreversal: LKP’s VatsalBhuva** — LKP Securities Vatsal Bhuva sees continued downside risks for Nifty and Bank Nifty, while identifying potential rebounds in Swiggy and HDFC Bank. He also recommends Oriental Hotels and Apollo Hospitals, citing improving technical indicators and favourable chart setups. — [Source](https://economictimes.indiatimes.com/markets/expert-view/swiggymayrebound-to-rs-190-butchartsdonotsignal-a-trendreversal-lkps-vatsalbhuva/articleshow/135184363.cms)
- 2026-10-24 — Economic Times: **Swiggy sinks 16% to record low as quick-commerce losses widen** — Shares of Swiggy fell by 16.4% to ₹176.70, marking a record low for the company. This decline raises concerns over cash burn and achieving profitability in its quick-commerce business. Analysts are questioning Swiggy's strategic choices and execution following its market debut. The widening losses in the quick-commerce segment have drawn attention to the company's overall performance. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/swiggy-falls-16-to-new-low-qcomm-losses-spook-street/articleshow/135160761.cms)
- 2026-10-23 — The Hindu: **Swiggy’s Instamart faces 3x scale gap with Blinkit as losses hit ₹895 crore** — Swiggy’s quick-commerce NOV rises 34.8% y-o-y to ₹6,594 crore; network and economics lag Eternal’s Blinkit — [Source](https://www.thehindubusinessline.com/companies/swiggys-instamart-faces-3x-scale-gap-with-blinkit-as-losses-hit-895-crore/article71617046.ece)
- 2026-10-23 — FREEPRESSJOURNAL.IN: **₹20 Lakh Crore Lost in Stock Market Selloff This Week, Why Midcap Stocks Crashed 6% And Smallcaps Plunged 7%** — Indian markets lost over Rs 20 lakh crore in value this week as Nifty fell over 2 percent, midcaps plunged 6 percent and smallcaps dropped 7 percent, raising concerns over widespread selling pressure. — [Source](https://www.freepressjournal.in/business/20-lakh-crore-lost-in-stock-market-selloff-this-week-why-midcap-stocks-crashed-6-and-smallcaps-plunged-7)
- 2026-10-23 — Mint: **Swiggy vs Eternal shares compared: Which is better stock to buy post Q2 results? Jefferies India explains | Target price** — The Jefferies India report has predicted the Swiggy share price target of ₹330 apiece after the announcement of Q2 results 2026 — [Source](https://www.livemint.com/market/stock-market-news/swiggy-vs-eternal-shares-compared-which-is-better-stock-to-buy-post-q2-results-jefferies-india-explains-target-price-11792745304355.html)
- 2026-10-23 — MONEYCONTROL: **Buy Swiggy; target of Rs 400: ICICI Securities** — Buy Swiggy; target of Rs 400: ICICI Securities Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio IPO Tonbo Imaging share price UP Elections iPhone Duo Elon Musk Annamalai Piyush Goyal Donald Trump Sonam Wangchuk News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Personal Finance more Home Loans up to 50 Lakhs Credit Cards Lifetime Free Finance Tracke — [Source](https://www.moneycontrol.com/news/business/buy-swiggy-target-of-rs-400-icici-securities-14058587.html)

## Business profile

**Strategic vision:** Online food ordering, delivery, and quick commerce platform.

### Business segments
- **Food Delivery:** Allows users to order food from a wide selection of restaurant partners and have it delivered by Swiggy's delivery fleet.
- **Instamart (Quick Commerce):** Customers can order groceries and household items, fulfilled by merchant partners often through dark stores, and delivered by Swiggy's delivery partners.
- **Dineout:** Enables users to discover restaurants, make reservations, access promotions, and conduct digital payments at participating establishments.
- **Scenes:** Facilitates bookings for in-restaurant events and curates live events in collaboration with partners, focusing on premium dining and entertainment.
- **Swiggy Access (Cloud Kitchens):** Operates its own cloud kitchens to expand available restaurant choices and optimize delivery logistics.
- **Swiggy Genie:** Provides instant package delivery, functioning as a person-to-person courier service.

### Competitive strengths
- Network effects from connecting customers, vendors, and delivery partners.
- Logistics infrastructure for hyperlocal delivery.
- Brand recognition and customer loyalty.

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/swiggy
Markdown representation: https://faxioms.com/stocks/swiggy?render=md