Swiggy Limited Annual Report | Balance Sheet

Swiggy Limited (Swiggy Limited) Return Comparision with Primex 40 Index

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Swiggy Limited

Swiggy Limited Balance Sheet (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Non-current assets
Property plant and equipment	4,527.85	3,137.49
Right of use assets	5,877.99	5,458.25
Goodwill	6,964.67	3,257.74
Other Intangible assets	3,043.11	3,197.38
Investment in an associate	603.58	669.72
Investments	13,822.84	16,164.02
Other financial assets	948.89	805.45
Income tax assets	1,603.01	1,574.51
Other assets	535.99	314.92
Current assets
Inventories	486.90	106.41
Investments	37,284.70	48,571.52
Trade receivables	9,638.50	10,623.49
Cash and cash equivalents	8,870.51	8,325.21
Bank balances other than above	38.00	313.97
Other financial assets	8,268.00	6,518.66
Other assets	2,779.67	3,767.71
Total assets	1,05,294.21	1,12,806.45
Equity & Liabilities
Equity share capital	30.06	26.57
Instruments entirely equity in nature	1,55,732.64	1,55,625.42
Other equity	-77,848.09	-65,085.87
Non-current liabilities
Borrowings	959.77	-
Lease Liabilities	4,670.59	4,445.77
Other financial liabilities	-	374.37
Contract Liabilities	290.12	-
Provisions	391.10	384.94
Current liabilities
Borrowings	1,152.09	-
Lease Liabilities	1,859.45	1,550.23
Trade payables	8,808.98	8,731.74
Other financial liabilities	6,394.16	3,916.56
Contract Liabilities	209.35	350.41
Other liabilities	1,856.74	1,666.94
Provisions	787.25	819.37
Total equity and liabilities	1,05,294.21	1,12,806.45

Swiggy Limited Profit & Loss Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Income
Revenue from operations	1,12,473.90	82,645.96
Other income	3,869.59	4,498.57
Total Income	1,16,343.49	87,144.53
Expenses
Cost of materials consumed	610.83	719.99
Purchases of stock in trade	45,547.50	33,019.51
Changes in inventory	-116.34	69.23
Employee benefit expenses	20,121.64	21,298.20
Finance costs	714.03	581.92
Depreciation and amortization	4,205.85	2,857.86
Advertising and sales promotion	18,507.99	25,011.60
Delivery and related charges	33,510.59	28,349.44
Other expenses	16,371.75	16,396.24
Total expenses	1,39,473.84	1,28,303.99
Loss before share of loss of an associate and exceptional items	-23,130.35	-41,699.46
Share in net loss of an associate	-66.14	-1.03
Loss Before exceptional items and tax	-23,196.49	-41,700.49
Exceptional items	-305.94	-92.56
Loss Before tax	-23,502.43	-41,793.05
Loss for the year	-23,502.43	-41,793.05
Other comprehensive income
Items that will not be reclassified subsequently to profit & loss:
Changes in fair value of equity instruments carried at fair value through other comprehensive income	931.68	-95.86
Remeasurement gain/(loss) on defined benefit plans	11.25	-32.82
Total Comprehensive income	-22,559.50	-41,921.73
Earnings per share (face value Rs. 1/-)
Basic and Diluted	-10.70	-19.33

Swiggy Limited Consolidated Cash Flow Statement (Rs in Millions)

Particulars	31-03-2024	31-03-2023
Cash flows from used in operating activities
Loss before tax	-23,502.43	-41,793.05
Adjustments for reconcile the loss before tax to net cash flows:
Depreciation and amortization expenses	4,205.85	2,857.86
Income on investments carried at fair value through profit and loss	-2,401.47	-2,114.43
Interest income on security deposits carried at amortised cost	-64.22	-55.42
Interest expense on financial liabilities measured at amortised cost	35.62	3.01
Gain on termination of leases	-73.25	-167.74
Impairment loss on property, Plant and equipment	127.70	92.56
Impairment on goodwill and other intangible assets	178.24	-
Share based payment expenses	5,962.62	3,373.52
Loss on disposal/write off of property, plant and equipment	152.45	28.45
Advances/deposits/receivables written off	-	7.05
Allowances for doubtfull debts and receivables	635.89	333.96
Allowances for doubtful advances	172.74	-
Interest on borrowings	76.67	-
Interest on lease liabilities	601.74	561.88
Interest income	-1,145.41	-1,213.67
Share of loss of associate	66.14	1.03
Provisions/Liabilities no longer required witten back	-118.85	-311.70
Interest on income tax refund	-63.51	-80.67
Operating loss before working capital adjustments	-15,153.48	-39,011.03
Movements in working capital:
(Increase)/Decrease in inventories	-126.19	71.08
Decrease in trade receivables	565.00	410.60
Increase in other financial assets	-2,062.65	-3,112.31
Decrease in other assets	1,026.40	1,285.91
(Increase)/Decrease in trade payables	67.68	-662.76
Increase in other financial liabilities	2,238.69	516.42
Increase in other liabilities	184.56	45.48
Increase in contract liabilities	149.06	39.34
Increase/decrease in provisions	-54.43	267.51
Cash used in operating activities	-13,165.35	-40,149.76
Income tax paid	38.01	-449.33
Net Cash used in operating activities	-13,127.35	-40,599.09
Cash flows from used in Investing activities
Purchase of investments	-82,721.27	-97,678.69
Proceeds from sale/maturity of investments	1,00,122.19	1,38,437.43
Purchase of property, plant and equipment and other intangible assets	-3,517.14	-1,682.99
Proceeds from disposal of property, plant and equipments and other intangibles assets	77.02	110.13
Investments in term deposits, net	275.97	-235.33
Interest received	761.85	727.92
Acquisition of subsidiary	-18.42	-
Inter corporate loan given	-395.62	-
Net Cash used in Investing activities	14,584.58	39,678.47
Cash flows from used in Financing activities
Payment of principal portion of lease liabilties	-1,636.46	-1,450.49
Payment of interest portion of lease liabilities	-601.74	-264.99
Proceeds from borrowings	3,976.97	-
Repayment of borrowings	-2,900.83	-
Interest paid	-65.90	-
Net Cash used in Financing activities	-1,227.95	-1,715.48
Net Increase in cash and cash equivalents	229.28	-2,636.10
Cash and cash equivalents acquired through business combination	136.60	-
Cash and cash equivalents at the beginning of the year	8,325.21	10,960.31
Cash and cash equivalents at the End of the year	8,691.09	8,325.21
Components of cash and cash equivalents
Cash in hands	22.70	-
Cheques in hand	87.46	-
Balances with banks
In current accounts	7,059.18	8,325.21
In deposit account	1,701.17	-
restricted cash held in separate account	-	2,125.17
Bank overdraft	-179.42	-
Total Cash and cash equivalents	8,691.09	10,450.38

Here is a summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flows from Operating Activities:

For the year ending 31st March 2024, the company reported a loss before tax of Rs. 23,502.43 million, which improved compared to the loss of Rs. 41,793.05 million in 2023. Several non-cash adjustments were made to reconcile the loss before tax with net cash flows. These include depreciation and amortization expenses of Rs. 4,205.85 million (up from Rs. 2,857.86 million in 2023), and the impact of impairments on property, plant, equipment, goodwill, and intangible assets totaling approximately Rs. 305.94 million. Notable adjustments included gains from lease terminations (Rs. 73.25 million) and a loss on the disposal of assets (Rs. 152.45 million).

The company's working capital adjustments in 2024 reflect efforts to improve operational efficiency. For example, there was an increase in financial liabilities (Rs. 2,238.69 million) and a decrease in trade receivables (Rs. 565 million). However, inventories increased by Rs. 126.19 million, contributing to a larger operating cash outflow. Despite these adjustments, the company generated an operating loss before working capital adjustments of Rs. 15,153.48 million in 2024 (improved from Rs. 39,011.03 million in 2023).

After working capital changes and taxes, the company reported net cash used in operating activities of Rs. 13,127.35 million in 2024, a smaller outflow compared to Rs. 40,599.09 million in 2023.

Cash Flows from Investing Activities:

Investing activities in 2024 show a net cash inflow of Rs. 14,584.58 million, a significant drop compared to Rs. 39,678.47 million in 2023. This is primarily due to the sale and maturity of investments, which generated Rs. 100,122.19 million in 2024, although lower than Rs. 138,437.43 million in 2023. On the expenditure side, the company spent Rs. 82,721.27 million on purchasing investments and Rs. 3,517.14 million on acquiring property, plant, and equipment (PPE), which represents an increase from the previous year.

The company also received interest income (Rs. 761.85 million) and proceeds from disposals of PPE (Rs. 77.02 million), contributing to the overall cash inflow from investing activities. These inflows were slightly offset by an inter-corporate loan given of Rs. 395.62 million and the acquisition of a subsidiary (Rs. 18.42 million).

Cash Flows from Financing Activities:

In 2024, financing activities resulted in a net cash outflow of Rs. 1,227.95 million, compared to a larger outflow of Rs. 1,715.48 million in 2023. The company paid Rs. 1,636.46 million as the principal portion of lease liabilities and Rs. 601.74 million as interest on lease liabilities. However, it raised Rs. 3,976.97 million from borrowings, although Rs. 2,900.83 million was used for debt repayment.

Net Increase in Cash and Cash Equivalents:

The company experienced a net increase in cash and cash equivalents of Rs. 229.28 million in 2024, a reversal from the net decrease of Rs. 2,636.10 million in 2023. Cash and cash equivalents at the end of the year stood at Rs. 8,691.09 million, compared to Rs. 8,325.21 million at the start of the year.

Swiggy Annual Reports, Balance Sheet and Financials

Swiggy Limited (Swiggy Limited) Return Comparision with Primex 40 Index

Swiggy Limited Balance Sheet (Rs in Millions)

Swiggy Limited Consolidated Cash Flow Statement (Rs in Millions)

Swiggy Limited Annual Reports

Swiggy Limited Annual Report 2023-24

Swiggy Annual Return 2022-23

Swiggy Annual Return 2021-22

Swiggy Annual Return 2020-21

Swiggy Annual Return 2019-20

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