Swiggy Limited (SWIGGY) AI Stock Analysis

• Market Cap: ₹1.03T
• Dividend Yield: N/A
• Average Volume (3M): 569.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.81
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 5,401
• Sector: Services
• Sector Strength: N/A
• Industry: Specialty Retail
• EPS (TTM): -5.00
• Shares Outstanding: 2,493,647,000
• 10 Day Avg. Volume: 463,097
• 30 Day Avg. Volume: 569,939
• PEG Ratio: -0.79
• Price to Book (P/B): 7.37
• Price to Sales (P/S): 4.95
• P/FCF Ratio: -25.79
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹453.00
• Price Target Upside: 10.00% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 53 Neutral
• Price Target: ₹382.00 ▼(-7.24% Downside)

Swiggy's stock score is primarily affected by its strong revenue growth overshadowed by significant profitability and cash flow challenges. The technical analysis provides some optimism with bullish indicators, but the poor valuation due to negative earnings highly impacts the overall score. Improving profitability and cash flow are crucial for enhancing investor confidence.

Swiggy Limited Business Overview & Revenue Model

Company Description

Swiggy Limited operates Swiggy, a platform to browse, select, order, and pay for food delivery in India. The company also offers grocery and household items delivery services through Swiggy Instamart platform. In addition, it provides restaurant reservation services through Dineout platform; and events bookings services through SteppinOut platform; product pick-up/dropoff services through Genie platform; and hyperlocal commerce services through Swiggy Minis platform. The company was incorporated in 2013 and is based in Bengaluru, India.

How the Company Makes Money

Swiggy makes money through a multifaceted revenue model primarily centered around commissions from partner restaurants. The company charges a commission fee for every order placed through its platform, which varies depending on the restaurant's agreement with Swiggy. Additionally, Swiggy generates revenue through delivery fees charged to customers, which can fluctuate based on factors such as distance, demand, and delivery time. The company also offers subscription services like Swiggy Super, which provides benefits such as free delivery on select orders for a monthly fee. Furthermore, Swiggy earns from advertising by allowing restaurants to promote their listings on its platform, thereby increasing visibility to potential customers. Strategic partnerships with financial and tech companies enhance Swiggy's service offerings and can also contribute to revenue generation.

Swiggy Limited Financial Statement Overview

Summary

Swiggy shows strong revenue growth but faces significant profitability challenges and cash flow constraints. While the equity position is stable with low leverage, the negative profitability metrics and cash flow issues highlight operational inefficiencies that need urgent attention.

Income Statement

Swiggy has shown significant revenue growth over the years, with the most recent year showing a 37.48% increase in revenue compared to the previous year, indicating strong market demand. However, the company is facing challenges in profitability, evidenced by a negative gross profit margin of 43.82% in 2023 and a net profit margin of -20.46% in 2025. Despite revenue growth, high operational costs and negative EBIT and EBITDA margins highlight ongoing operational inefficiencies.

Balance Sheet

The balance sheet shows a strong equity position, with an equity ratio of 67.21% in 2025, indicating financial stability. The debt-to-equity ratio remains low at 0.17, suggesting conservative leverage usage. However, the return on equity is negative due to persistent net losses, which is a concern for long-term profitability and shareholder returns.

Cash Flow

Swiggy's cash flow statement reflects challenges in generating positive free cash flow, with a worsening trend as free cash flow became more negative year-over-year. The operating cash flow to net income ratio is negative, indicating that the company struggles to convert its earnings into cash flow. This is a critical issue that could affect liquidity if not addressed.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022
Income Statement
Total Revenue	169.66B	152.27B	112.47B	82.65B	57.05B
Gross Profit	75.67B	66.76B	61.25B	-15.68B	29.40B
EBITDA	-11.29B	-4.65B	-18.52B	-38.35B	-34.09B
Net Income	-37.03B	-31.17B	-23.50B	-41.79B	-36.29B
Balance Sheet
Total Assets	0.00	152.05B	105.29B	112.81B	144.06B
Cash, Cash Equivalents and Short-Term Investments	54.94B	46.23B	49.19B	60.43B	102.17B
Total Debt	0.00	17.03B	8.64B	6.00B	5.08B
Total Liabilities	-102.19B	49.86B	27.38B	22.24B	21.39B
Stockholders Equity	102.19B	102.19B	77.91B	90.57B	122.67B
Cash Flow
Free Cash Flow	-2.75B	-29.20B	-16.64B	-42.28B	-41.92B
Operating Cash Flow	-1.75B	-21.69B	-13.13B	-40.60B	-39.00B
Investing Cash Flow	328.19M	-13.72B	14.58B	39.68B	-91.60B
Financing Cash Flow	-1.02B	39.03B	-1.23B	-1.72B	136.34B

Swiggy Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 411.80
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SWIGGY, the sentiment is Neutral. The current price of 411.8 is below the 20-day moving average (MA) of 432.35, below the 50-day MA of 419.07, and above the 200-day MA of 396.98, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 42.51 is Neutral, neither overbought nor oversold. The STOCH value of 13.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:SWIGGY.

Swiggy Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SPECIALITY	69 Neutral	₹7.11B	36.27	―	0.68%	5.42%	-35.75%
ADVANIHOTR	64 Neutral	₹5.47B	21.72	―	3.18%	1.07%	5.07%
SHREERAMA	64 Neutral	₹7.99B	14.66	―	―	24.53%	346.38%
BYKE	57 Neutral	₹3.54B	79.68	―	―	15.06%	-43.56%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SWIGGY	53 Neutral	₹1.03T	―	―	―	―	―