Swiggy Share Price: Why Did Quick Commerce Firm's Stock Plunge To 52-Week Low?

Swiggy Share Price Today: Shares of food delivery and quick commerce platform Swiggy fell 5% on Tuesday to hit their 52-week low of Rs 300 on the BSE. The decline comes just a day after a major shareholder lock-in period ended, which made around 83% of the company’s shareholding eligible for trading for the first time.

According to domestic brokerage JM Financial, the lock-in expiry could trigger selling pressure, as early investors and insiders may choose to book profits. The brokerage noted that “even if just 15% of the locked-in shares are sold post-expiry, it could lead to outflows worth Rs 120 billion”—a figure nearly equal to Swiggy’s total IPO size of Rs 113 billion.

Although Swiggy’s current stock price is about 18% below its IPO price of Rs 390, several pre-IPO investors are still sitting on significant unrealised gains. “While we cannot accurately predict when these shareholders will exit, or whether they will even exit, it is pertinent to note that several of them are already sitting on significant unrealised gains,” JM Financial stated.

Despite the recent stock decline, JM Financial maintained a ‘Buy’ rating on Swiggy, although it lowered the target price from Rs 500 to Rs 450 following the company’s Q4 earnings.

Also Read: Paytm Share Price: Fintech Major Stock Dips 5% Amid Stake Sale

Company To Lose Market Share In FY26

Swiggy’s Q4 FY25 results showed a mixed performance. The company’s food delivery (FD) segment delivered strong results with a 17.6% year-on-year growth in gross order value (GOV), slightly ahead of expectations. Margins in the FD business also improved significantly.

However, the Instamart or quick commerce (QC) segment underperformed, with GOV growth of 101%—falling short of the 110% target—and higher-than-expected losses. Swiggy’s consolidated EBITDA loss widened to Rs 960 crore, up from Rs 730 crore in Q3, partly due to increased ESOP costs.

“QC growth investments have likely peaked in Q4,” JM Financial noted, adding that profitability may begin to recover in the coming quarters as operational efficiencies improve. However, it warned that the company could lose more market share in FY26 due to reduced investment in quick commerce.

Swiggy’s Q4 FY25 Results

Swiggy also reported a consolidated net loss of Rs 1,081 crore for the March quarter, almost double the Rs 555 crore loss reported in the same period last year. Revenue from operations rose to Rs 4,410 crore from Rs 3,045.5 crore a year earlier, but total expenses also surged to Rs 5,609.6 crore from Rs 3,668 crore.

Despite the challenges, Swiggy highlighted improvements in operational efficiency. Adjusted EBITDA rose 15.4% quarter-on-quarter and over five times year-on-year to Rs 212 crore. Margin expanded to 2.9% of GOV, up from just 0.5% a year ago.