Swiggy Q2 FY26 Loss Widens to ₹1,092 Crore as Revenue Surges 54% to ₹5,561 Crore

funding

November 4, 2025

Swiggy’s revenue soared 54% year-on-year to ₹5,561 crore in the second quarter of FY26, even as the food delivery major widened its losses amid higher spending on advertising and promotions. The company posted a consolidated loss of ₹1,092 crore for the quarter ended September 2025, compared with ₹626 crore a year earlier, according to its latest regulatory filing.

The Bengaluru-based firm, which competes with Zomato, saw its total expenses climb 56% to ₹6,711 crore. Advertising and sales promotion costs nearly doubled to ₹1,039 crore, while delivery-related expenses rose 30% to ₹1,426 crore. Employee costs stood at ₹690 crore and finance costs more than doubled to ₹48 crore.

Despite the loss, Swiggy’s food delivery vertical maintained profitability at the adjusted EBITDA level, supported by a 19% jump in gross order value (GOV) to ₹8,542 crore. Monthly transacting users rose 34% year-on-year to 22.9 million, with more than one-third availing multiple services. Adjusted EBITDA margin for food delivery improved to 2.8% of GOV, up 125 basis points from a year ago.

Instamart, Swiggy’s quick-commerce business, posted robust growth with GOV up 108% year-on-year and 24% sequentially to ₹7,022 crore. Average order value climbed 40% to ₹697 as the network expanded to 1,102 dark stores across 128 cities. Contribution margin improved 200 basis points quarter-on-quarter to -2.6%, and adjusted EBITDA loss narrowed to ₹849 crore.

Swiggy’s out-of-home consumption segment also remained profitable, with GOV up 52% year-on-year and an EBITDA margin of 0.5% of GOV.

Managing Director and Group CEO Sriharsha Majety said Swiggy delivered its strongest order growth in two years, driven by innovations like Bolt, 99 Store, Deskeats, and health-focused offerings. The board will meet on November 7 to consider raising up to ₹10,000 crore through public or private offerings, including QIPs.

Tata Consumer’s New-Age Brands Drive 32% of India Business in Q2 FY26

FMCG

SnackTeam

November 4, 2025

Tata Consumer Products Ltd (TCPL) reported strong earnings for the September quarter, driven by a surge in demand for its portfolio of emerging food brands that are rapidly reshaping the company’s India business.

The company said its ‘Growth’ segment—which includes Tata Sampann, Tata Soulfull, Capital Foods, and Organic India—expanded 27 per cent year-on-year and now contributes 32 per cent to its domestic revenue mix. Tata Sampann remained the standout performer, posting a 40 per cent sales jump on the back of growing demand for packaged pulses, spices, and ready-to-cook foods.

Tata Soulfull continued to build on the consumer shift toward millet-based snacking and breakfast options, while Capital Foods, which owns Ching’s Secret and Smith & Jones, maintained steady growth despite temporary disruptions linked to the GST transition. Organic India also saw stable momentum in its health and wellness offerings.

For the quarter ended September 30, consolidated revenue from operations rose 18 per cent to ₹4,966 crore. Group net profit increased 11 per cent to ₹407 crore, while EBITDA grew 7 per cent to ₹675 crore. The company said both its branded and non-branded international businesses registered healthy performances, growing 9 per cent and 26 per cent respectively in constant currency terms.

Tata Consumer’s Ready-to-Drink beverages division clocked 25 per cent growth despite unseasonal rains that impacted consumption in several markets. The company also introduced 25 new products across its portfolio, focusing on health, convenience, and premium categories.

Chief Executive Sunil D’Souza said the company delivered its second consecutive quarter of double-digit growth in its core tea and salt categories, while Tata Starbucks expanded its footprint to 492 outlets across 80 cities, strengthening its presence beyond metro markets.

Vintage Coffee & Beverages Reports 137% Profit Surge in Q2 FY26; Revenue Climbs 90%

Growth

SnackTeam

November 4, 2025

Vintage Coffee & Beverages Ltd delivered a strong performance in the September quarter, reporting a 137% year-on-year jump in profit after tax to Rs 17.83 crore, backed by robust demand and improved operational efficiency. The company’s revenue for the quarter surged 90% to Rs 135.61 crore, while operating profit rose 120% to Rs 21.38 crore, according to a regulatory filing on Monday.

For the first half of FY26, the coffee manufacturer posted a profit of Rs 32.07 crore, a 166% increase over the same period last year. Revenue for the six-month period climbed 106% to Rs 237.22 crore, with operating profit up 138% at Rs 38.61 crore.

Chairman and managing director Balakrishna Tati said the company’s growth was driven by strong demand across product categories and better capacity utilization. “Despite a challenging business environment, we achieved significant progress in scaling our operations and improving profitability,” he said, adding that the company remains confident of maintaining its growth momentum in the second half of the fiscal.

Vintage Coffee is also ramping up its production capacity. It expects to commission an additional 4,500 metric tonnes per annum (MTPA) of spray-dried and agglomerated coffee capacity by the end of FY26, which will raise its total installed capacity to 11,000 MTPA.

In a major step toward product diversification, the company plans to establish a greenfield freeze-dried coffee plant with a capacity of 5,000 MTPA by FY28. The project will be funded through proceeds from a recent preferential equity issue.

Tati added that equipment orders for the new plant have already been placed with a leading European manufacturer, covering about 70% of the total project cost, paving the way for future growth and premium product expansion.

Baba Ramdev’s Patanjali Foods Reports Best-Ever Quarter, Yet Shares Fall 5% — Here’s Why the Street Isn’t Happy

Food

SnackTeam

November 3, 2025

Patanjali Foods Ltd. witnessed a sharp 5% fall in its share price on Monday after the company’s Q2 results failed to impress the Street, even though the FMCG major reported robust growth across key parameters. The stock reaction came as a surprise, considering the firm’s standalone net profit surged 67.2% year-on-year, marking its best-ever quarterly performance.

According to the company’s financial report, revenue from operations rose 20.9% compared to the same quarter last year, driven by higher sales in edible oils and packaged food segments. The Baba Ramdev-led company said profitability metrics improved substantially, supported by better operating efficiency and cost control measures.

Despite the impressive numbers, analysts noted that the results fell short of market expectations, as investors were anticipating even stronger volume growth and margin expansion. This mismatch between high expectations and reported figures triggered short-term profit-taking in the counter.

Brokerage firm ICICI Securities retained an ‘Add’ rating on Patanjali Foods, setting a target price of ₹650 per share, indicating potential upside from current levels. The brokerage highlighted the company’s strong fundamentals, expanding distribution network, and growing presence in the fast-moving consumer goods (FMCG) space as key positives.

Experts believe that the recent correction may offer a buying opportunity for long-term investors, given the company’s consistent revenue growth and profitability trajectory. However, they caution that near-term volatility could persist as the market recalibrates its expectations.

Patanjali Foods continues to be one of the most watched stocks in India’s FMCG sector — blending traditional wellness appeal with modern business growth ambitions.

PepsiCo May Bring Alcoholic RTD Drinks to India with Varun Beverages

Beverages

SnackTeam

November 3, 2025

Varun Beverages Ltd (VBL), PepsiCo’s largest bottling partner outside the United States, is in early discussions with the beverage major to jointly explore India’s fast-emerging alcoholic ready-to-drink (RTD) market. The move could mark PepsiCo’s debut in the country’s alcohol segment and signal a new chapter in its three-decade-old alliance with VBL.

“We are in talks with PepsiCo to see if we can introduce some of their low-alcohol, ready-to-drink beverages in India,” said Ravi Jaipuria, chairman of RJ Corp, VBL’s parent company, during a post-earnings call. He added that these products are gaining traction globally and India offers strong growth potential.

The discussions come soon after VBL announced a distribution partnership with Danish brewer Carlsberg for select African markets. PepsiCo, meanwhile, has already entered the global RTD alcohol space through collaborations with AB InBev and Diageo. In Canada, it recently launched SVNS Hard 7Up with Labatt Breweries, while in the UK it partnered Diageo for a Captain Morgan and Pepsi Max cocktail.

If finalized, the collaboration will extend VBL’s portfolio beyond soft drinks for the first time. The company has already informed exchanges that it plans to test opportunities in beer, wine, whisky, gin, rum, and vodka across India and international markets. “We will move carefully, starting with Africa and evaluating India next,” Jaipuria said.

Industry experts caution that the RTD segment, while lucrative, involves complex distribution and stringent regulatory norms. Still, market projections are promising: India’s RTD alcoholic beverages market is expected to grow at a 6% CAGR between 2025 and 2035, outpacing global averages, according to Future Market Insights.

The move comes at a time when India’s soft drink sales are under pressure following a weak summer season and rising competition from new and regional beverage brands.

Delhi Govt to Retain Control of 700 + Liquor Vends as Revenue Races Past ₹7,000 Crore — What It Means for Drinkers and Retailers

Growth

SnackTeam

November 3, 2025

Delhi’s upcoming excise policy is set to bring major changes to the city’s liquor retail system, with the government expected to continue its control over all liquor stores. This means that only government-run liquor outlets will operate across the capital, ending any speculation about private players returning to the business.

According to officials, the focus of the new policy is on creating a more organized, transparent, and socially responsible retail environment. To achieve this, the Delhi government plans to redesign its existing liquor stores into larger, modern spaces located in malls and shopping complexes. These outlets are expected to be better managed, more customer-friendly, and aligned with urban infrastructure standards.

Another key proposal under the new excise framework is the relocation of liquor shops away from densely populated residential areas. This move aims to reduce local disturbances and address long-standing complaints from residents. Additionally, the profit margin structure for retailers is likely to be overhauled to encourage stocking of premium liquor brands, which could enhance both consumer experience and revenue generation.

Experts believe that while the continuation of government-run stores may limit competition, it will also ensure stricter oversight, minimizing issues like overcharging and policy misuse. The Delhi government’s focus, they say, is clearly on transparency, compliance, and responsible consumption rather than aggressive retail expansion.

With these sweeping reforms, the excise policy is poised to reshape how Delhiites buy their alcohol — bringing order, regulation, and a new retail experience to the city’s liquor landscape.

United Breweries Quarterly Earnings Dip as Unusual Monsoon Impacts Operations

Beverages

SnackTeam

October 31, 2025

India’s largest brewer, United Breweries Ltd (UBL), reported a 3% year-on-year decline in both sales volume and value for the quarter ended September 2025, after heavy and prolonged monsoon rains disrupted operations and hurt demand in key beer markets.

Chief executive officer Vivek Gupta said the “unusual monsoon” caused flooding at three UBL breweries and impacted several major markets, including Karnataka, Odisha, West Bengal, and Telangana, where category sales dropped nearly 40%. “We are disappointed with the financial results, but this is just one quarter. Our long-term plan remains on track,” Gupta told analysts in the company’s post-results call.

UBL’s total revenue from operations fell 21% year-on-year to ₹3,735.6 crore, while net sales stood at ₹2,051 crore, down 3%. The company’s standalone gross profit slipped 5% to ₹878 crore, and EBITDA dropped sharply by 39% to ₹145 crore, reflecting the combined effect of weather-related disruptions, inflationary pressure, and regional taxation issues.

Despite the overall decline, UBL’s premium segment continued to perform strongly, growing 17% year-on-year, led by Kingfisher Ultra and Kingfisher Ultra Max. The company also expanded its portfolio of value brands, introducing London Pilsner and Kalyani Black in Odisha and West Bengal to drive recovery in mass-market segments.

Gupta highlighted broader market challenges, including tax hikes and licensing delays. Karnataka, traditionally India’s beer capital, saw a 14–15% decline in category sales following repeated excise duty increases. Telangana, too, faced a double-digit dip due to delays in retail licensing.

The company is now focusing on improving productivity, managing input costs, and converting certain fixed costs into variable ones. Gupta added that the brewer remains confident about regaining growth momentum once weather and regulatory conditions stabilize.

Swiggy Eyes Rs 10,000 Crore QIP as Competition Heats Up in Food and Quick Commerce Sector

Quick Commerce

SnackTeam

October 31, 2025

Bengaluru-based food and grocery delivery major Swiggy will convene its board on November 7 to discuss a proposal to raise Rs 10,000 crore ($1.1 billion) through a qualified institutional placement (QIP). The company said the move is intended to boost strategic flexibility and strengthen its balance sheet at a time when competition in the food and quick commerce sector is intensifying.

The proposed fundraise comes even as Swiggy remains “well-funded” for its current growth plans. In a filing, the company said, “The external environment is dynamic, with both established and new players attracting large investments. This has prompted the board to consider an additional capital raise to ensure we remain agile and well-capitalized.”

Swiggy reported a net loss of Rs 1,092 crore in the September quarter, widening from Rs 626 crore a year earlier, despite a 54% year-on-year rise in operating revenue to Rs 5,561 crore, largely driven by its quick commerce vertical, Instamart. The firm’s EBITDA loss narrowed sequentially to Rs 695 crore from Rs 813 crore in the previous quarter.

As of September 30, the company had Rs 4,605 crore in cash reserves, with quarterly cash burn reducing to Rs 749 crore, down from Rs 1,341 crore in the previous period. The balance sheet will receive an additional boost from the Rs 2,400 crore divestment of its 12% stake in Rapido to Prosus and WestBridge Capital.

Swiggy’s quick commerce arm, Instamart, maintained strong momentum with gross sales of Rs 7,022 crore, clocking over 100% growth for the third straight quarter. The food delivery business also expanded 18.7% year-on-year to Rs 8,542 crore.

Chief Financial Officer Rahul Bothra said the QIP proceeds will serve as growth capital, adding that no further fundraising is anticipated after this round.

Reliance Retail Pushes ‘Made-in-India’ Electronics Globally Under Kelvinator and BPL Labels

Retail & Ecommerce

SnackTeam

October 31, 2025

Reliance Retail is preparing to shake up India’s consumer electronics market with a strategy that mirrors its successful revival of Campa Cola. The company will deploy aggressive pricing, higher dealer margins, and an extensive distribution push to strengthen its in-house brands Kelvinator and BPL, according to people familiar with the plan.

The Mukesh Ambani-led conglomerate plans to make Kelvinator and BPL products widely available across multi-brand electronic stores, regional retail chains, and major e-commerce platforms. Prices are expected to be 20–25% lower than comparable models from leading players like LG and Samsung, giving Reliance a clear cost advantage.

“Reliance’s approach is straightforward — offer the latest technology, strong after-sales service, and better margins for dealers,” said an industry executive. Margins are expected to be 8–15 percentage points higher than those offered by established brands, creating strong incentives for retailers to promote Reliance products.

The company is also extending its reach beyond India. Exports of Kelvinator and BPL appliances have already begun to Nepal and Bhutan, with expansion to Sri Lanka, the Middle East, and parts of Africa on the horizon. “Our electronic brands reflect our effort to democratize access to technology while expanding India’s manufacturing footprint globally,” a Reliance Retail spokesperson said.

Reliance acquired the Kelvinator brand from Electrolux for ₹160 crore earlier this year and holds the license for BPL, which it secured in 2020. Since then, it has significantly broadened both product lines — Kelvinator now offers a full range of refrigerators, washing machines, and air coolers, while BPL has expanded from televisions to home appliances such as air conditioners and small kitchen devices.

Industry observers note that Reliance’s earlier attempts to build electronics brands organically, including Reconnect and Wyzr, met limited success. With the Campa-style playbook and global ambitions, the company now aims to rewrite that narrative.

Noida-Based Fambo Raises ₹21.55 Crore in Second Funding Round to Expand Its 75-Acre AI-Powered Food Network

funding

SnackTeam

October 30, 2025

Noida-based food solutions startup Fambo has raised ₹21.55 crore in a fresh funding round led by AgriSURE Fund and EV2 Ventures. This marks Fambo’s second funding round in 2025, reinforcing investor confidence in its mission to revolutionize India’s farm-to-fork supply chain.

Founded in 2022, Fambo provides fresh and semi-processed food products to over 1,000 HoReCa (Hotel, Restaurant, and Café) outlets across North and Central India. Its clientele includes major names like McDonald’s and Barbeque Nation, underscoring its growing presence in the organized food service sector.

The company sources its produce from a network of 75 acres of GAP-certified (Good Agricultural Practices) farmlands. Leveraging AI-driven systems, Fambo ensures end-to-end traceability, quality consistency, and optimized logistics — enabling faster deliveries and minimal wastage.

With this new infusion of capital, Fambo plans to significantly expand its farmland network, upgrade its cold chain infrastructure, and strengthen its last-mile delivery operations. The startup also intends to deploy advanced automation and data-driven solutions to further streamline procurement and distribution processes.

Fambo’s model bridges the gap between farmers and food businesses by creating a transparent and technology-enabled supply chain. The company’s focus on quality, traceability, and efficiency positions it strongly within India’s fast-evolving food solutions and agritech ecosystem.

By combining sustainability with smart logistics, Fambo aims to redefine how fresh food reaches India’s growing HoReCa sector — one delivery at a time.

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