Swiggy Q1 Preview: Losses may widen YoY despite up to 56% jump in revenue on Instamart push
ADVERTISEMENT The estimates given by brokerages ICICI Securities, Kotak Institutional Equities, and JM Financial have been taken into account.
ICICI Securities expects Swiggy's net loss to widen to Rs 1,060 crore, compared to Rs 611 crore in Q1FY25, though slightly better than the Rs 1,081 crore loss in Q4FY25.Kotak Equities pegs the loss at Rs 763 crore, narrowing YoY, though relatively flat QoQ, while JM Financial projects the steepest loss of Rs 1,130 crore, expanding YoY and QoQ.
ADVERTISEMENT ICICI Securities forecasts Rs 5,098 crore in adjusted revenue, up 46.6% YoY and 8% QoQ, while Kotak estimates topline at Rs 4,811 crore, a 49.3% YoY and 9.1% QoQ jump.JM Financial is the most bullish with a revenue forecast of Rs 5,021 crore, up 56% YoY and 14% QoQ.
ADVERTISEMENT ICICI sees adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) loss at Rs 788 crore, widening sequentially from Rs 733 crore loss in Q4FY25 and higher YoY.Kotak projects EBITDA loss at Rs 6,118 crore while JM Financial expects it at Rs 990 crore.
ADVERTISEMENT
ICICI expects an adjusted EBITDA margin of -15.4%, down 543 bps YoY but up 9 bps QoQ.Kotak forecasts a margin loss of 12.7%, with a 388 bps YoY contraction, but a 169 bps QoQ recovery.
ADVERTISEMENT
Kotak sees 129% YoY revenue growth for Instamart, driven by 113% GMV growth and expansion to 1,171 stores. However, EBITDA losses are estimated at Rs 850 crore, remaining flat QoQ due to fixed costs despite margin improvement.Contributing margin trends in food delivery amid rising delivery costs, along with competitive intensity in quick commerce from rivals like Zomato. The Street would also like to hear the company's commentary on the path to profitability in Instamart and store expansion plans.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
24 minutes ago
- Time of India
ED summons Reliance Group brass in loan fraud probe
The Enforcement Directorate has summoned top executives of Anil Ambani's Reliance Group, including Amitabh Jhunjhunwala and Sateesh Seth, for questioning in a ₹17,000 crore loan fraud case. The ED is also set to question bank officials regarding actions taken against Reliance companies that defaulted on loan repayments. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: The Enforcement Directorate (ED) has summoned around half a dozen current and former top executives of Anil Ambani 's Reliance Group for questioning in connection with its probe into alleged money laundering in a ₹17,000 crore loan fraud case. Amitabh Jhunjhunwala and Sateesh Seth are among those summoned, said people in the know. The investigating agency has asked Jhunjhunwala, a former top executive of the group, to appear before it on Wednesday. Seth, who is still among the top leaders of the group, is summoned on Thursday. Both were close aides of Anil other Reliance Group executives have also been ordered to be available for questioning, the people chief Anil Ambani has been asked to appear at the ED headquarters in New Delhi on Tuesday sources said those summoned are suspected to have played key roles in the alleged bank loan fraud ET on Monday reported that the ED will also summon officials of private and public sector banks that had given loans to the Anil Ambani-led Reliance federal agency will quiz the bank officials on the action initiated by them, if any, against Anil Ambani's companies which failed to repay the loans, ET reported."We want to ascertain what action did banks take against the companies which failed to repay the loans taken from them (banks). Did they complain to the police, seek registration of an FIR against the companies or not", a senior official had told ET on the condition of Rs 17,000 crore loans that three Anil Ambani Group companies - Reliance Home Finance Ltd, Reliance Commercial Finance Ltd and Reliance Communications - had taken from nearly 20 private and public sector banks, including Yes Bank ICICI Bank and HDFC Bank , had turned non-performing. The ED is investigating alleged laundering of the loan agency last week carried out searches at multiple entities and individuals linked to the group. Late on Friday, it arrested Partha Sarathi Biswal, managing director of Odisha-based Biswal Tradelink Pvt Ltd Biswal Tradelink is accused of arranging a fake bank guarantee of ₹68 crore for a Reliance Group firm.A Delhi special court has remanded Biswal in ED's custody till August 6.A statement issued by Reliance Group on Friday said "The company and its subsidiaries acted bonafidely and have been a victim of fraud, forgery and cheating conspiracy. The company has made due disclosure on this to the stock exchanges on November 7, 2024."


Hans India
24 minutes ago
- Hans India
Apcob celebrates 62nd Foundation Day
Vijayawada: The Andhra Pradesh State Cooperative Bank (Apcob) is a vital institution for the state's rural economy, said Minister for Agriculture, Cooperation, and Marketing, Kinjarapu Atchannaidu. He was speaking at the bank's 62nd Foundation Day celebrations held at the MB Vijnana Kendram here on Monday. The minister extended his greetings to farmers, women's federations, youth, cooperative society members, and bank officials. He highlighted APCOB's crucial role in providing timely loans for seeds, fertilizers, and other agricultural needs, thereby supporting the state's farmers. 'The government is fully committed to strengthening the cooperative structure to financially empower every farming household,' he stated. He assured that with technology, cooperative bank services would become more accessible and citizen-friendly. He praised institutions like DCCBs (District Cooperative Central Banks), PACS (Primary Agricultural Credit Societies), and APCOB for serving rural areas that commercial banks often neglect. Minister Atchannaidu noted APCOB's significant role in supporting underprivileged communities. He recalled that before 2014, there was no separate ministry for the cooperative sector at the central level. However, under Prime Minister Narendra Modi, a dedicated ministry was established, giving the sector national priority. The minister said that in Andhra Pradesh, agriculture and cooperatives are two crucial sectors, and economic support is key to their growth. He noted that APCOB has expanded its services beyond just loans to include providing agricultural inputs, and even running medical stores and petrol stations, which contribute significantly to rural economic infrastructure. The minister also highlighted the success of the DWCRA model, which was introduced under Chief Minister N Chandrababu Naidu's leadership and has now become a national example. He said nearly one crore women are engaged in cooperative transactions worth Rs 42,000 crore. However, most of these transactions are currently handled by private banks. The minister assured that plans will be developed to route these transactions through Apcob and its affiliates, which would offer lower interest rates than private banks. He concluded by urging all stakeholders to work together to advance the cooperative sector and expressed hope that Apcob would achieve greater heights in the future. Apcob chairman G Veeranjaneyulu, Special Chief Secretary B. Rajasekhar, RCS Amar Babu, Apcob MD Srinath Reddy, Nabard CGM Gopal, DCCB chairpersons, PACS leaders, and other dignitaries were present.
&w=3840&q=100)

Business Standard
24 minutes ago
- Business Standard
FPIs still drive stock prices despite holdings at decade-low levels
Despite foreign portfolio investors' (FPIs) holdings in Indian equities falling to a decade-low, they remain the most influential driver of stock prices. According to Prime Infobase, among seven key investor cohorts, companies that saw an increase in FPI holdings during the June 2025 quarter recorded the highest average gains—21.73 per cent. In contrast, stocks where FPIs reduced their stakes underperformed, with an average gain of just 16.9 per cent. Stocks that saw mutual funds (MFs) raise exposure posted average returns of 16.3 per cent, while those where they reduced their exposure edged higher by 17.2 per cent. Companies where Life Insurance Corporation (LIC) increased its holdings saw a more modest average rise of 9.4 per cent, while 88 stocks where LIC cut its stake rose 17.2 per cent. Market observers note that while FPIs' influence may be gradually waning amid surging domestic liquidity, they remain market movers and price-setters. In contrast, domestic institutional investors (DIIs) are largely viewed as price takers, contributing stability to the system. As of June 2025, FPIs' share in India's total market capitalisation dropped to 17.04 per cent—a 13-year low—from 17.22 per cent at the end of March 2025, even as net FPI inflows during the quarter stood at Rs 38,674 crore. Notable stocks that saw significant FPI inflows included Vishal Mega Mart (FPI holding up 582 basis points; share price up 28.5 per cent), South Indian Bank (FPI holdings up 562 bps; price up 33.5 per cent), and Paradeep Phosphates (FPI holdings up 680 bps; share price up 70 per cent). On the flip side, key stocks with the steepest decline in FPI holdings—such as Hi Tech Pipes (FPI cut 726 bps; stock down 1 per cent) and Balaxi Pharma (FPI cut 716 bps; stock down 22 per cent)—notably underperformed the market.