Swiggy Limited — Investor Meet, 06-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Swiggy's Q2 FY26 call revealed robust quick commerce growth, with GOV up over 100% for the third quarter and contribution margin improving 200 basis points to -2.6%. The food delivery business shows profitable growth at an INR 1,000 Cr annual run rate. Management aims for quick commerce contribution margin profitability by Q1 FY27 (June 2026 quarter). A proposed QIP will bolster cash for growth and strategic initiatives, with no further fundraises anticipated. Non-grocery categories saw strong adoption, contributing to higher average order values. Swiggy plans to densify its existing store network, which can double current orders, focusing on sustainable user acquisition amidst heightened competition. Sentiment: Confident in path to profitability.