Swiggy slides 7% as Q4 loss deepens to ₹800 Cr despite 45% revenue surge
Q4 FY26 net loss widened 26% YoY to ₹800 Cr even as revenue jumped 44.7% to ₹6,383 Cr and B2C GOV rose 40.7% to ₹18,131 Cr. FY26 losses ballooned 33% to ₹4,154 Cr as Instamart burns cash against Blinkit and Zepto. MTUs up 27% but frequency slipped 5%. Brokerages split: Nomura, Citi, Kotak Buy (TP ₹370-473); MS Equal-Weight ₹322.
What happened
Swiggy shares fell up to 7% after Q4 FY26 net loss of ₹800 Cr despite 44.7% revenue growth; FY26 loss widened 33% amid quick commerce competition. Brokerages
Key facts
- stock -7% intraday to ₹261.2
- closed -6% at ₹263.7
- market cap ₹72,789.4 Cr (~$7.6 Bn)
- Q4 FY26 net loss ₹800 Cr (-26% YoY)
- revenue ₹6,383 Cr (+44.7% YoY)
- B2C GOV ₹18,131 Cr (+40.7% YoY)
- total expenses ₹7,448 Cr (+32.8%)
- adj EBITDA loss ₹652 Cr (-11% YoY)
- FY26 loss ₹4,154 Cr (+33%)
- FY26 revenue ₹23,053 Cr (+50.8%)
- MTU 2.5 Cr (+27.2% YoY)
- frequency 4.01 (-5%)
- Nomura Buy TP ₹473
- Citi Buy TP ₹415
- MS EW TP ₹322
- Kotak Buy TP ₹370
Why this matters
With Blinkit and Zepto forcing Swiggy into a ₹4,154 Cr annual burn, consolidation pressure is building—watch for category exits, regional JVs, or dark-store infrastructure carve-outs as capital discipline tightens.