After ElaraSecurities initiates ‘accumulate’ rating on Swiggy with target price of Rs 450, Stock climbed up 1.5% in early morning sessions.
As per the research report
- Initiate Accumulate with TP of Rs 450
- Food delivery shows improvement
- Instamart – long haul for positive adj. EBITDA
- Huge total addressable market (TAM) to capture growth
- SWIGGY has a large growth opportunity and execution headroom
Sales increased to 15,226 in March 2025 compared to 11,247 in March 2024. The EBIT was -3,013 in March 2025 compared to -2,272 in March 2024. Net profit was -3,114 in March 2025 compared to -2,343 in March 2024.
Recent Announcements
Swiggy announced the grant of stock options under its Employee Stock Option Plan 2024 on July 11, 2025. The company also informed the exchange about the Certificate under SEBI (Depositories and Participants) Regulations, 2018.