RATING

RECOMMENDATION

Sell

  • Swiggy Bundl Technologies Private Limited
  • ₹150.00

  • PLACE ORDER
  • ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary

RATING

RECOMMENDATION

Sell

Business Type

Dominant Leader

RATING

RECOMMENDATION

Sell

Business Type

Dominant Leader

  • Swiggy Growth

Swiggy Revenue Growth

Growth in %

  • -27.41%

    1 Year

  • 78.91%

    3 Year

  • 156.99%

    5 Year

Revenue in FY20 grew by 189.2% over FY19 on account of better service fees collected from restaurant partners, growth of sales from private labels, advertisement income, and income from delivery services.

However, covid has negatively impacted the business, which can be witnessed from the decline in revenue by 37.7% over FY20 due to lockdowns and restrictions imposed to contain the spread of coronavirus.  

Swiggy Net Profit Growth(PAT)

Growth in %

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

The net loss in FY20 widened by 65.3% over FY19 due to growth of 100.7% in total expenses over FY19. The major increase was in employee benefit costs which increased to Rs 1,218.0 Cr in FY20 from Rs 544.0 Cr in FY19. The company also impaired the entire investment of Rs 102.3 Cr in Ant Farm-incubated hyperlocal delivery venture Scootsy.

In FY21 the net loss narrowed by 58.7% over FY20 due to a decline of 47.3% in total expenses in FY21. The major decline was in advertising promotional expenses from Rs 1,821.0 Cr in FY20 to Rs 461.0 Cr in FY21. This primarily was done to cut costs during the lockdown induced due to Covid-19.           

Swiggy EPS Growth

Growth in %

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

EPS dropped in FY20 by 65.3% over FY19 majorly due to the broadening of net loss and an increase in the number of shares due to a substantial increase in ESOPs and preferential shares. EPS in FY21 increased by 58.8% over FY20 due to a narrowing down of net loss in FY21     

  • Swiggy Book Value Growth

Growth in %

  • -45.86%

    1 Year

  • 65.38%

    3 Year

  • 87.25%

    5 Year

The book value of the company has been rising primarily due to the company raising the funds through issue of preference shares over the years. In FY21 there is a reduction in the book value due to the company incurring loss and comparatively less amount of funds raised through equity.     

Swiggy EBITDA Growth

Growth in %

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

The EBITDA showed a decline of 53.8% in FY20 due to an increase in selling & administrative expenses which consist of advertising and promotional expenses from Rs 778.0 Cr in FY19 to Rs 1,821.0 Cr in FY20. The EBITDA in FY21 improved by 67.1% due to declining in selling & administrative expenses from Rs 1,821.0 Cr in FY20 to Rs 461.0 Cr in FY21    

Swiggy Operating Profit Growth

Growth in %

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

The Operating profit of the company increased by 63.8% in FY21 due to a significant fall in total expenses of the company (47.3% in FY21) compared to the fall in total revenue of the company (26.5% in FY21) 

Swiggy Asset Growth

Growth in %

  • -32.29%

    1 Year

  • 41.28%

    3 Year

  • 68.28%

    5 Year

The total assets of the company declined by 32.2% in FY21 from Rs 4,401.7 Cr in FY20 to Rs 2,980.6 Cr in FY21 due to a reduction of 51.1% in current assets from Rs 1,858.0 Cr in FY20 to Rs 908 Cr in FY21. In FY21, the company sold its investment property worth Rs 4,714.7 Cr.

Swiggy Cash Flow from Operations

Growth in %

  • NA

    1 Year

  • NA

    3 Year

  • NA

    5 Year

Cash flow from operations increased by 78.1% in FY21 due to a decrease in inventories, an increase in trade receivables and increase in other current assets

  • Swiggy Solvency Ratios

Swiggy D/E Ratio

The D/E of the company is always less than 1 as the company has less debt and funds the business activities of the company through equity only. It increased in FY21 due to a decrease of 38.1% in reserves & surplus of the company due to the company making huge losses year-on-year(y-o-y)  

Swiggy Current Ratio

The company has significantly higher current assets due to high cash in the book and the current liabilities of the company are low due to negligible debt in the book therefore the healthy current ratio. It is decreasing for the past two years due to a decrease in current investments of the company   

Swiggy Quick Ratio

The company has an asset-light business and therefore it has a negligible inventory of Rs 16 Cr in FY21. Due to low inventory, the current ratio and quick ratio are almost the same. 

Swiggy Interest Coverage Ratio

The interest coverage ratio of the company is negative due to the negative operating profit of the company. Interest coverage ratio has improved in FY21 due to improvement in operating profit of the company

  • Swiggy Operating Efficiency


Swiggy Operating Profit EBIT Margin(OPM)

Although the EBIT of the company is negative since its inception. EBIT margin has been improving on account of revenues getting better over the years. In FY21, the total expenses of the company declined by 47.3% whereas the net revenues declined by just 10.9% 

Swiggy Profit Before Tax Margin (PBT Margin)

Since the company has low debt levels and earns some interest income as well on its current investments. Therefore the PBT margin of the company is improving y-o-y

Swiggy Profit After Tax Margin (PAT Margin)

The company is a loss-making company and does not pay any taxes as of now therefore the PAT margin and PBT margin are the same

  • Swiggy Profitablity Ratio

Swiggy Return on Equity(RoE)

ROE of the company has improved by 23.3% in FY21 due to an improvement in the Operating Profit Margin of the company by 43.8% from -112.7% in FY20 to -63.3% in FY21

Swiggy Return on Capital Employed(RoCE)

Due to the improved EBIT of the company. The ROCE of the company is improving

Swiggy Return to Assets (RoA)

Due to the incurred losses by the company over the years, the ROA is negative. In FY21, the net loss of the company narrowed the reduction in the total assets of the company by 32.2%, ROA of the company has improved in FY21 

  • Swiggy Valuation Ratios

Swiggy Earning Yield