25-04-2025
Buy Swiggy, target price Rs 500: JM Financial
iStock Biryani
Swiggy's key Products/Revenue Segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending 31-Mar-2024.
Financials
For the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 4095.84 crore, up 11.11% from last quarter Total Income of Rs 3686.26 crore and up 30.82% from last year same quarter Total Income of Rs 3130.93 crore. The company has reported net profit after tax of Rs -798.95 crore in the latest quarter.
The company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares outstanding.
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Investment Rationale
JM Financial continues to value the company?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. In quick commerce, they value Instamart at 1x EV/ FY27E GOV multiple. For Other businesses, they use 0.9x EV/GOV FY27E multiple for out-of-home consumption and 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, their SOTP-based Mar?26 target price stands at Rs 500. While the brokerage sees near-term pressures on the stock price due to volatility on account of lock-in expiry, long-term investors with a strong positive conviction on India?s hyper local delivery market opportunity can use these liquidity events to build a sizeable position. JM Financial maintains a BUY.
Promoter/FII Holdings
Promoters held $ per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.89 per cent, DIIs 9.32 per cent.
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel JM Financial maintains a buy call on Swiggy with a target price of Rs 500 (unchanged) . The current market price of Swiggy is Rs 340.85. Swiggy, incorporated in 2013, is a Small Cap company with a market cap of Rs 77877.54 crore, operating in Services key Products/Revenue Segments include Platform Services, Other Operating Revenue and Sale of Food for the year ending the quarter ended 31-12-2024, the company has reported a Consolidated Total Income of Rs 4095.84 crore, up 11.11% from last quarter Total Income of Rs 3686.26 crore and up 30.82% from last year same quarter Total Income of Rs 3130.93 crore. The company has reported net profit after tax of Rs -798.95 crore in the latest company's top management includes Kripalu, Juneja, Sharma, Daniel, Mitra, Barua, Vishnubhai Haribhakti, Nandan Reddy Obul, Majety, Clark Rabalais. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 229 crore shares Financial continues to value the company?s food delivery business at 45x EV/ FY27E Adj. EBITDA multiple. In quick commerce, they value Instamart at 1x EV/ FY27E GOV multiple. For Other businesses, they use 0.9x EV/GOV FY27E multiple for out-of-home consumption and 0.5x EV/Sales multiple for supply chain and distribution. Accordingly, their SOTP-based Mar?26 target price stands at Rs 500. While the brokerage sees near-term pressures on the stock price due to volatility on account of lock-in expiry, long-term investors with a strong positive conviction on India?s hyper local delivery market opportunity can use these liquidity events to build a sizeable position. JM Financial maintains a held $ per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.89 per cent, DIIs 9.32 per cent.
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