Swiggy SWIGGY
No. 2 food-delivery app and owner of Instamart (quick commerce), plus Dineout, SteppinOut and Scenes
Mapped in 1 theme: Consumer Internet.
Where Swiggy sits in the supply chain
Swiggy appears in 2 supply-chain layers in one theme, Consumer Internet.
Consumer Internet › Quick commerce & dark stores
OperatorOther companies in this layer
Eternal (Zomato, Blinkit)Zepto (unlisted)Flipkart (unlisted)Amazon India (unlisted)Avenue Supermarts (DMart)
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,705 | 8,265 | 11,247 | 15,227 | 23,053 |
| Net profit | −3,629 | −4,179 | −2,350 | −3,117 | −4,154 |
Latest-year revenue ₹23,053 Cr (FY26, company-wide).
Strengths
- Food delivery is profitable and growing high-teens %
- Raised ~₹10,000 Cr in a Dec 2025 QIP and ~₹2,400 Cr from selling its Rapido stake - a large cash cushion
- Instamart moving to owned inventory from mid-Q3 FY27, which management says adds ~80 bps of contribution margin
Risks
- Instamart's adjusted EBITDA loss widened to ~₹895 Cr in Q2 FY27; contribution margin slipped to -1.0% of GOV
- No. 3 in quick commerce behind Blinkit and Zepto by order share
- Consolidated loss continues; the market has punished delays to breakeven
- Rising competition from Flipkart Minutes and Amazon Now
Common questions
What does Swiggy do?
No. 2 food-delivery app and owner of Instamart (quick commerce), plus Dineout, SteppinOut and Scenes.
Where does Swiggy sit in the supply chain?
Swiggy (NSE: SWIGGY) is mapped in 2 supply-chain layers: Food delivery (Consumer Internet) and Quick commerce & dark stores (Consumer Internet).
Who are Swiggy's peers?
In the Food delivery layer of Consumer Internet: Eternal (Zomato, Blinkit).
What is Swiggy's market cap and valuation?
As of 6 Nov 2026: market cap ₹52,688 Cr, ROCE −24.1%, ROE −29.1%, dividend yield 0%.