Swiggy Ltd

- The transcript provided does not explicitly mention any current or planned future fundraising through debt or equity. - Management discusses cash balance strength (Rs. 6,700 crores), profitability in food delivery and dine-out businesses, and cash burn levels, indicating strong internal liquidity. - There is emphasis on managing investments in growth, operating leverage improvements, and flexibility in expansion without referring to external fundraising. - No direct statements about raising new capital via debt or equity are made on page 19 or the surrounding pages. - Overall, based on the provided text, the company appears confident in its existing cash reserves and does not signal imminent fundraising plans through debt or equity.

- Capex per new store addition is expected to remain around Rs. 70-80 lakhs and not decrease significantly. - Warehouse capacity expansion has been done to support accelerated growth in recent quarters. - No significant city expansion planned for quick commerce; focus is on deepening network and acquiring more customers in existing cities. - Investments continue in the out-of-home consumption business to drive growth and profitability, including new offerings like Swiggy Scenes. - Fixed costs in quick commerce, particularly performance and brand marketing, are currently high due to user acquisition; expected to reduce as growth stabilizes. - Capex and working capital investments increased significantly due to store additions and warehouse expansion. - Store expansion pace will be modulated based on market acceleration with a focus on growth-driven densification rather than rapid store addition.

- Out of home consumption business is expected to sustain growth with profitability around 4-5% positive EBITDA at steady state. Initiatives like Swiggy Scenes aid demand during events. (Page 19) - Food delivery business growth guidance is between 18%-22% year-on-year, currently trending at the lower end (~18%). Innovation efforts like Bolt and One BLCK aim to boost growth. (Pages 11,12,16) - Quick commerce (Instamart) expects growth by deepening presence in existing ~100 cities rather than expanding city count. GOV growth is anticipated to potentially double in FY ’26 driven by MTU growth and higher average order value (AOV). (Pages 18,16) - Contribution margin investments in quick commerce are peaking; operating efficiencies and network densification should accelerate growth with contribution breakeven expected by approximately December 2025 to early 2026. (Pages 6,7,16) - Overall, the company expects continued operating leverage and margin expansion in food delivery and quick commerce segments. (Page 18)

- Out of Home Consumption business is expected to deliver steady-state EBITDA around 4%, with continued growth aided by initiatives like Swiggy Scenes driving restaurant partner traffic. (Page 19) - Food delivery business: Operating leverage improved by 80 basis points in the past year, with contribution margin expected to expand by 100-150 basis points, indicating continued upward EBITDA trajectory over full year basis. (Page 17, 13) - Quick commerce (Instamart): Contribution breakeven targeted by December 2025 to March 2026, with flexibility for growth investments; growth through deepening within existing cities rather than expansion. (Page 18, 7, 6) - Food delivery growth guidance remains at 18-22% year-on-year, trending towards lower end currently, with innovations ongoing to improve growth beyond 20%. (Page 12) - Overall, management expects continued profitability improvement through operating leverage, cost controls, and growth investments, while maintaining a strong balance sheet. (Pages 19, 11)

The provided transcript does not contain explicit information on Swiggy's current or expected orderbook or pending orders. However, some relevant insights related to order volumes and business growth include: - Bolt, Swiggy's faster delivery initiative, contributes 12% of overall order volumes. - Stores typically take 6 to 12 months to reach 1,000 orders per day (OPD), which is the breakeven threshold. - The quick commerce business has seen a significant number of new users added — more than in the past six quarters combined. - Swiggy added 314 stores last quarter to increase warehouse footprint, supporting order capacity. - The quick commerce network stores are mostly less than three months old, indicating ongoing expansion and order growth potential. Overall, while specific orderbook or pending order numbers are not detailed, Swiggy is scaling operations and expects increased order flow as new stores mature.