SWIGGY2026-10-23
Swiggy — The Loss Is Contracting, the Stock Is Not
Swiggy's H1 FY27 loss is 25% below last year and food delivery now earns Rs 341 Cr of quarterly EBITDA, but Instamart alone lost Rs 895 Cr and the sequential loss widened. At 1.2x EV/revenue against Eternal's 5x the market has priced the bear case; the chart, at an all-time low with 12 checklist fails, says wait for the Q3 Instamart number.