Conference Call with Swiggy Ltd. Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
Internet & Catalogue Retail company Swiggy announced Q1FY26 results Platform Gross Order Value (B2C GOV) rose ~45% YoY to clock Rs 14,797 crore; Consolidated Adjusted EBITDA loss increased to Rs 813 crore. Food delivery GOV grew 18.8% YoY; Adjusted EBITDA margin contracted to 2.4% of GOV, led by seasonal investments into delivery partner availability and impact of annual appraisals. Instamart GOV growth rose to 108% YoY and 21% QoQ led by a 16% jump on AOV, Contribution margins improved by ~100 bps QoQ to -4.6%, while Adjusted EBITDA margin improved to -15.8%. Out of Home Consumption segment continued profitable trajectory with 61% YoY GOV growth, and Adjusted EBITDA margins rising to 0.5% of GOV. Platform’s Average MTU increased 35% YoY to reach 21.6 million; with 35% of all users utilizing more than one service on the platform. Sriharsha Majety, MD & Group CEO, Swiggy, said: “Swiggy’s Food delivery business continues to deliver robust growth, while innovating to create new customer propositions which can open up the market further. Bolt and 99-store are efforts to ensure that we keep challenging the status quo, and help our restaurant partners garner new users and incremental consumption. Instamart witnessed a massive leap in AOV led by assortment expansion and Maxxsaver adoption. Focus has been on agile and calibrated network expansion; and improving wallet-share by increasing basket-size which is one of the prime determinants of long-term profitability. We have moved past the Mar-25 peak of losses in Quick-commerce, but amidst significant competition we will modulate investments to ensure that we drive the business towards scale-led profitability." Result PDF