Anand Rathi upgrades Swiggy to buy with ₹310 target
Business
Swiggy just got a "buy" rating from Anand Rathi, with a target price of ₹310.
The upgrade comes as Swiggy moves away from chasing rapid growth and starts focusing more on making money, putting profitability ahead of expansion for now.
Swiggy breaks even per order
Swiggy's finances are looking up: it went from a loss of around 5.6% in Q4FY25 to breaking even in Q1FY27.
Plus, Swiggy is tweaking its Instamart grocery business by capping foreign investment and shifting to a direct inventory model, expected to boost margins by ₹4 to ₹5 per order.
Instamart now runs 1,171 dark stores in 125 cities and has expanded into high-margin non-grocery items that account for ~30% of its business.