Zomato vs Swiggy: Which Stock Should You Track

Zomato vs Swiggy is one of the most searched stock comparisons among Indian startup and internet investors following Swiggy's IPO in November 2024. Zomato is India's largest food delivery platform, listing earlier in 2021 and having turned profitable on a reported basis, while Swiggy is India's second largest food delivery platform that completed its IPO and is still in a loss-making phase as it invests in quick commerce through Instamart alongside its core food delivery business. Both companies are valued on Gross Order Value (GOV) and growth trajectory rather than earnings.

This Zomato vs Swiggy article covers reach and market position, key products, latest declared results and stock valuation. The Zomato vs Swiggy data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

Zomato vs Swiggy: Reach and Market Position

On the Zomato side of the Zomato vs Swiggy comparison, Zomato operates food delivery across 800+ cities, quick commerce through Blinkit (formerly Grofers), and a going-out platform. Blinkit has become a significant revenue and GOV contributor. Market capitalisation is Rs 2,99,933 Cr.

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On the Swiggy side of the Zomato vs Swiggy comparison, Swiggy operates food delivery across 500+ cities and quick commerce through Swiggy Instamart. Swiggy also operates Swiggy Genie (package delivery) and Swiggy Dineout. Market capitalisation is Rs 79,745 Cr.

Zomato vs Swiggy: Key Products and Business Mix

In the Zomato vs Swiggy product comparison, Zomato offers: Zomato earns from delivery fees, platform commissions, advertising and Blinkit quick commerce. EPS is Rs 0.45. P/E is 690.67x, ROE 1.18 percent, D/E 0.15. Just turned profitable on reported basis.

For Swiggy in this Zomato vs Swiggy breakdown: Swiggy earns from food delivery commissions, Instamart quick commerce and platform advertising. EPS is -Rs 13.58 (loss-making). ROE is -22.68 percent. D/E is 0.14. Not profitable on a reported basis as of available data.

Zomato vs Swiggy: Latest Results

The Zomato vs Swiggy results for Zomato: Zomato has a market cap of Rs 2,99,933 Cr and P/E of 690.67x — the high P/E reflects minimal current earnings and high market expectations for GOV growth. ROE of 1.18 percent reflects the early stage of profitability.

The Zomato vs Swiggy results for Swiggy: Swiggy has a market cap of Rs 79,745 Cr and is currently loss-making with EPS of -Rs 13.58. ROE of -22.68 percent reflects ongoing investment in quick commerce and platform growth. Zomato is roughly 3.8 times larger than Swiggy by market cap.

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Zomato vs Swiggy: Stock and Valuation

The Zomato vs Swiggy stock comparison uses the latest available market data from Groww. Investors tracking Zomato vs Swiggy should verify current prices on NSE or BSE before trading.

Zomato vs Swiggy at current valuations: Zomato trades at Rs 2,99,933 Cr market cap, P/E 690.67x, ROE 1.18 percent. Swiggy trades at Rs 79,745 Cr market cap, loss-making. Zomato is substantially larger and is ahead of Swiggy in the path toward sustainable profitability. Both are valued on GOV, take-rate trends and quick commerce contribution.

Zomato vs Swiggy: Quick Comparison Table

The Zomato vs Swiggy comparison table below summarises the key metrics covered in this article side by side.

Parameter	Zomato	Swiggy
Sector	Food delivery + Blinkit quick commerce	Food delivery + Instamart quick commerce
Market Cap	Rs 2,99,933 Cr	Rs 79,745 Cr
P/E Ratio	690.67x (early-stage profits)	N/A (loss-making)
ROE	1.18%	-22.68% (investing phase)
Profitability	Reported profit (FY25 onward)	Still loss-making
Quick Commerce	Blinkit	Swiggy Instamart
Dividend	None	None

Conclusion

The Zomato vs Swiggy comparison above covers the key data points on reach, products, results and valuation. Zomato vs Swiggy is a comparison of India's two dominant food tech platforms at different stages of the profitability journey. Zomato has reached reported profitability and has the scale advantage through Blinkit in quick commerce. Swiggy is investing aggressively in Instamart and platform growth while still loss-making. Investors should review monthly order volumes, GOV growth, EBITDA trajectory, quick commerce unit economics and competitive moat before taking a view on either. Consult a SEBI-registered advisor for personalised guidance.

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Frequently Asked Questions

Is Zomato profitable?

Ans. Zomato achieved reported profitability starting FY25 on a quarter-by-quarter basis, driven by food delivery scale and Blinkit contribution. However, profitability is still thin relative to its market cap.

Is Swiggy profitable?

Ans. Swiggy is not yet profitable as of available data, with EPS of -Rs 13.58. The company is investing heavily in Instamart quick commerce and platform expansion.

What is Blinkit?

Ans. Blinkit, acquired by Zomato in 2022, is India's largest quick commerce platform delivering groceries and FMCG products in 10 to 30 minutes from dark stores. Blinkit is a key growth driver for Zomato.

What is Swiggy Instamart?

Ans. Swiggy Instamart is Swiggy's quick commerce arm delivering groceries from dark stores in major cities within 10 to 30 minutes. It competes directly with Blinkit and Zepto.

Which is larger, Zomato or Swiggy?

Ans. Zomato is significantly larger by market capitalisation at Rs 2,99,933 Cr versus Swiggy at Rs 79,745 Cr.

When did Swiggy list on the stock market?

Ans. Swiggy completed its IPO in November 2024, listing on BSE and NSE.

Are Zomato and Swiggy in Nifty 50?

Ans. Zomato is in Nifty 50. Swiggy, being more recently listed and smaller, is not in Nifty 50.