Order received from Deputy Commissioner, Uttar Pradesh GST Department
As filed · Swiggy Limited has informed the Exchange about the order received from Deputy Commissioner, Uttar Pradesh GST Department
What happened
FactSwiggy Ltd. has received an order from the Deputy Commissioner of the Uttar Pradesh State Goods and Service Tax department for the period April 2023 to March 2024. The company plans to file an appeal against this order, believing it has a strong case on merits. Further details are provided in the attached Annexure-A.
Why it matters
CapitSignal interpretationAn order converts to revenue over its execution period, so its size relative to existing revenue decides whether it changes the trajectory or is routine flow.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Guidance
RevisedWe expect to cross 10,000 Cr annualized GOV run-rate over the next 2 years with an annualised Adjusted EBITDA pool of ~500 Cr.
We expect to hit overall Adjusted EBITDA break-even at a scale of ~ INR 60,000 Cr of run rate annualised NOV (25-30 Cr orders per quarter from the current rate of 11.5 Cr per quarter) with 5-6% Contribution margin equating to INR ~30 per order.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Execution period stated in the order
- Whether the order book total is disclosed
- Margin commentary at the next results
- It also shared that it has set a goal to facilitate 100% of our restaurant partners to transition to responsib (management committed by FY30)
- Swiggy announced a goal of transitioning to a 100% electric vehicle (EV) delivery fleet by 2030. (management committed by FY30)
Evidence
- Swiggy Limited has informed the Exchange about the order received from Deputy Commissioner, Uttar Pradesh GST Department(opens the original filing in a new tab)
- Earlier statement · Q1 FY27
- Latest statement · Q1 FY27
- Earlier statement · Q1 FY27
How CapitSignal classified this
- Reasoning:
- ORDER_WIN base 58; +5 quantified amount; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%