Swiggy

BHold

SWIGGY · NSE · Large Cap · Food Delivery

Food DeliveryQuick Commerce

Fetching live…

₹410

1D -0.8%1M -3.5%1Y -12%

Fundamental (RQ-100)

Technical (TQ-100)

Valuation

Market cap

₹1.10L Cr

Live decision ratingDSell / Avoid

Fundamental score breakdown

33/100

Growth Quality

20.0 / 20

Rev 1Y 32.0%, 3Y CAGR 35.0%, 5Y CAGR 45.0%

Margin & Profitability

0.0 / 15

EBITDA -10.0%, PAT -22.0%

Return on Capital

0.0 / 20

ROCE -12.0%, ROE -18.0%

Cash Flow Quality

4.0 / 15

OCF/EBITDA 0.40

Leverage

9.0 / 10

ND/EBITDA 0.00

Reinvestment

8.0 / 8

Capex/Sales 6.0%

Accounting

2.0 / 7

Governance

4.0 / 5

Red flags (penalty)

-14.0 / 0

Technical score breakdown

40/100

Trend Structure

8.0 / 20

↓ 200 · ↓ 50 · ↓ 20

Momentum

5.0 / 15

1Y -12.0%, 1M -3.5%

Volume Dynamics

8.0 / 15

Vol30 —%

Relative Strength

4.0 / 15

1Y -12.0%

MA Cluster

5.0 / 10

Extension

5.0 / 10

—% from 50DMA

Volatility

4.0 / 8

Price Action

1.0 / 7

-100.0% from 52W H

Business

What this company actually does

Food delivery + Instamart (q-comm) + Dineout. Listed Nov 2024. Closest peer to Eternal but earlier in profitability curve.

Stores

—

Dark stores

700

Cities

Listed status

Listed

Format exposure

How direct is this play?

Primary formatFood Delivery

Exposure typePure-play

Revenue visibilityLow

Operating leverage stageInvestment

Policy beneficiary4 mapped

Data confidenceMedium

Financial snapshot

Live · green dot = live, falls back to curated

Revenue

₹11.0K Cr

Rev 1Y growth

32%

Rev 3Y CAGR

35%

EBITDA margin

-10.0%

PAT margin

-22.0%

ROE

-18%

ROCE

-12%

OCF/EBITDA

0.40

Net Debt/EBITDA

0.0

Financial statements

Multi-year P&L, balance sheet, cash flow — scraped live from Screener.in

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Valuation

Live multiples + retail-specific (curated)

P/E

—

Forward P/E

—

EV/EBITDA

—

EV/Sales

14.0

EV/GMV

1.10

EV/Order

₹360

P/B

8.0

FCF Yield

—

Mid-range valuation. Watch incremental ROCE.

Retail KPIs

The unit-economics that define the format

GMV

₹50.0K Cr

Orders (mn)

850

AOV

₹420

MTU (mn)

16.0

Contribution margin

2.1%

Take rate

21%

Policy beneficiary

Regulations that move the P&L

DPIIT Press Note 2 (2018) — FDI in E-commerce

Same constraint applies to Instamart

Mixed

-50 bps

GST on Quick Commerce + Restaurant Services

Same as Eternal

Negative

-75 bps

State Gig Worker Welfare Cess

Cess on Instamart + Swiggy Food GMV

Negative

-150 bps

Digital Personal Data Protection Act, 2023

Same as Eternal

Mixed

-20 bps

Investment thesis

AI-generated · always cite sources before acting

Bull

Compounding revenue at 35% CAGR. Pure-play exposure to Food Delivery. Long-runway TAM with structural tailwinds.

Base

Earnings growth of ~39% over the next 3 years assuming margins hold. Multiple compression risk if growth slows; multiple expansion possible if Food Delivery GMV outperforms.

Bear

Capital efficiency below cost of capital. Format-level risk: regulation, gig-cess, or competitive pressure compress contribution margin.

Variant perception

Consensus views Swiggy as a challenged player. Our differentiated take: the current multiple already prices in mid-cycle outcomes.

Key monitorables

Quarterly contribution margin trajectory
SSSG vs guidance
Capex vs store/dark-store adds
Promoter holding and ESOP dilution

Peers

Same primary format · sorted by market cap