Cinematic 16:9 aerial night view of a dense Indian metro cityscape — Mumbai or Bengaluru — with thousands of glowing delivery scooters weaving through illuminat

Swiggy Q4 & FY2026 Results · May 2026 · Profitability Inflection

The Momentum Is Real

Swiggy grew its gross order value by 41% while shrinking losses — the rarest combination in consumer tech.

Q4FY26 Platform Snapshot

B2C GOV: INR 18,131 Cr +40.7% YoY
Platform MTU: 25.2 Mn +27.2% YoY
B2C Adj. EBITDA Margin: -3.0% of GOV +181 bps YoY
Total B2C Orders: 301 Mn

Food Delivery is now the profit engine. GOV grew 22.6% YoY to INR 9,005 Cr in Q4FY26 — the highest YoY growth in 15 quarters — driven by sharper order and user-volume gains rather than average order value inflation.

Profitability kept pace. Adjusted EBITDA reached INR 297 Cr, with margin hitting a record 3.3% of GOV (+41 bps YoY, +26 bps QoQ). Food Delivery MTU grew 21% YoY to 18.3 Mn, supported by 275,400 average monthly transacting restaurant partners.

Bolt, One BLCK, 99-Store, and Eat Right (which carries above-platform AOVs) powered user growth. Snacc, the quick-food vertical, was proactively shut down after management concluded the steady-state category size did not justify the added operating complexity.

"We believe that affordability will be the biggest amongst these to drive strong growth in food delivery." — Sriharsha Majety, Group CEO

Instamart at a Glance — Q4FY26

Quick Commerce GOV: INR 7,881 Cr (+68.8% YoY)
Darkstores: 1,143 across 129 cities
Darkstore Area: 4.81 Mn sq ft (+21.1% YoY)
Average Order Value: INR 700 (+33% YoY)
Monthly Transacting Users: 13.3 Mn
Orders / Darkstore / Day: 1,093
Contribution Margin: -1.8% of GOV (–1.1% in Mar-26)
Adj. EBITDA Loss: INR 858 Cr (–INR 50 Cr QoQ)

Dineout at a Glance — Q4FY26

Out-of-Home GOV: INR 1,245 Cr
GOV Growth (YoY): +43%
Adj. EBITDA Margin: 0.8% of GOV (INR 10 Cr)
Margin a Year Ago: 0.3% of GOV
Avg Monthly Active Restaurants: 52,000+
Restaurant Partner Growth: +9% QoQ · +33% YoY (vs 39k in Q4FY25)
Revenue Driver: Brand advertising & GIRF monetisation

In-restaurant dining is a secular growth opportunity — the category remains significantly underpenetrated even in top-tier cities, with discretionary incomes still expanding.
— Sriharsha Majety, Co-founder, MD & Group CEO, Swiggy Ltd

₹ 652 Crloss

Consolidated Adjusted EBITDA — Best Ever | Q4FY26

↓ INR 80 Cr YoY · ↓ INR 60 Cr QoQ

Platform & People at a Glance

Monthly Transacting Users: 25.2 Mn
MTU Growth YoY: +27.2%
B2C Orders — Q4FY26: 301 Mn
B2C GOV Growth YoY: +40.7%
Delivery Partners on E-Shram: ~100,000
Women Empowerment Goal by 2030: 100,000 women
She The Change — IWD 2026: 30+ chefs & entrepreneurs recognised
Food Delivery compass: Affordability (Toing marketplace)
Quick Commerce compass: Differentiation — Noice + partner brands
Dineout compass: Secular, underpenetrated dining-out