External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Swiggy delivered a revenue of INR39.9b in 3QFY25 (up 11% QoQ) vs. our estimate of INR38.9b.</li><li>The food delivery (FD) business’s GOV grew 19.2% YoY, whereas the contribution margin was 7.4%, recording 80bp QoQ expansion.</li><li>FD’s adjusted EBITDA as a % of GOV margin rose 90bp QoQ to 2.5%. Instamart’s GOV was INR39.0b (+88.1% YoY), which missed our estimate.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Swiggy delivered a revenue of INR39.9b in 3QFY25 (up 11% QoQ) vs. our estimate of INR38.9b.The food delivery (FD) business’s GOV grew 19.2% YoY, whereas the contribution margin was 7.4%, recording 80bp QoQ expansion.FD’s adjusted EBITDA as a % of GOV margin rose 90bp QoQ to 2.5%. Instamart’s GOV was INR39.0b (+88.1% YoY), which missed our estimate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Swiggy - Competition and Expansion Plans to Drag QC Profits