Dear shareholders, good day and a very warm welcome to the 12th annual general meeting of Swiggy Limited. As a reminder for the smooth conduct of the meeting, the members will be in the mute mode and audio and video will be enabled when they are called upon to speak at the AGM as per the pre-registration. Please note that as per the requirements, the proceedings of the annual general meeting will be recorded and available on the website of the company. I now hand over the proceedings to Miss Kavi Shiram, company secretary and compliance officer. Thank you and over to you ma'am.
Thanks NRA. A very good morning everyone. It's our pleasure to extend a warm welcome to all of you for the 12th annual general meeting of Swiggy Limited. This meeting is being conducted through video conferencing in compliance with the applicable guidelines and circulars issued by the MCA and SEBI. The company has taken all necessary measures to ensure that shareholders are able to participate in this AGM seamlessly through the virtual platform. The proceedings are also being webcast live via NSDL for your convenience. Mr. Anand Krypalu, chairman of the board will chair this meeting. The notice convening the 12th AGM along with the annual report for the financial year 24-25 has been sent to all shareholders whose email IDs are available with the company and the depositories. As the AGM is being held through VC, the requirement to appoint proxies has been dispensed with in terms of the provisions of Companies Act and SEBI. The company has facilitated the option of voting for all businesses set out in the notice. The e-voting was open from the 18th of August until the 20th. The statutory registers as required by the Companies Act and other documents referred to in the notice are available for inspection online through the NSDL portal. Members who have not cast their votes through remote e-voting are requested to vote during the AGM or within 15 minutes thereafter by way of an e-voting facility available on the platform. There will be no proposing or seconding of the resolutions to ensure a smooth conduct of the AGM. All participants will be on mute mode. Shareholders who have pre-registered for the Q&A will be invited and the moderator will prompt each shareholder to unmute themselves after which they may express their views or queries. The speaker shareholders are requested to restrict their questions to a maximum of 2 minutes. Further the representatives of our statutory auditors BSR and Co LLP, Mr. Pradeep Kulkarni partner from V Sridharan Associates the proposed secretarial auditor and Mr. Pramod, scrutinizer for the e-voting process are also attending this meeting through video conference. I would now request Mr. Anand Kripalu chairman to conduct the proceedings of the meeting. Over to you sir.
Thank you Kavi and a very good morning to all of you. As your chairman, let me formally welcome you to the 12th annual general meeting of Swiggy Limited and thank you for being here with us today. On behalf of the board of directors and everyone at Swiggy, I extend my sincere gratitude for your continued trust, encouragement and support towards the company and its management. Today we are joined virtually by other distinguished members of the board. We have Mr. Shailesh Haribhakti, independent director. We have Miss Suparna Mitra, independent director. We have Mr. Faraz Khaled, independent director. We have Mr. Ashutosh Sharma, nominee director. And we have Mr. Roger Clark Rabbel, nominee director. I'm also joined physically in the meeting room today by Mr. Sriharsha Majety, managing director and group CEO, Mr. Lakshman Nandan Reddy, director and head of innovation, Mr. Rahul Bothra, CFO and Ms. Kavi Shiram the company secretary. We also have Mr. Abhishek Agarwal who heads investor relations. As the requisite quorum is present and with your permission I now call the meeting to order. In terms of the MCA notifications, as the shareholders are allowed to join the AGM through video conference, the necessity of appointing proxies is dispensed with. I would like to mention that those shareholders who have pre-registered with the company will be called upon one by one by the moderator to pose their questions and queries during the Q&A session. The annual report for the year ended 31st March 2025 along with the director's report and audited annual accounts of the company have been shared with you and therefore may I request that these be taken as read. This is our first AGM post our successful listing last year. Your company is one of the most well-recognized brands in India today and touches the lives at a scale and in a manner that very few can claim to do even globally. Over the past year, we have navigated a rapidly evolving market with resilience, clarity of purpose, and the belief that building for the long term demands both bold investments as well as disciplined execution. We fulfilled 30 orders every second in FY25 and delivered joy to almost 18 million consumers every month across the length and breadth of India. No wonder then that our $1.34 billion IPO was a seminal event in the Indian startup space and the sixth largest IPO ever in Indian history. With consumer love, investor support and employee efforts, we are a one lakh crore market cap company today with a 46,500 crore gross order value growing at over 33% annually. This year was nothing short of transformational. We strengthened our footprint to over 700 cities in our largest business of food delivery, took a quantum leap in quick commerce by expanding to over 120 cities with multiple new categories and rapidly grew the dine out business to take it to profitability. While we took nonlinear bets in creating new propositions for consumers, we also sharpened our portfolio by focusing on scalable high impact businesses. Food delivery swung into significantly profitable territory after its break even late last year with adjusted EBITDA rising to 566 crores. Instamart is now already two-thirds the size of food delivery and accelerated its growth over the year to above 100% despite high competitive intensity supported by growth investments in expanding the dark store footprint, widening assortment and driving customer acquisition. These results are a direct outcome of keeping our focus on operational discipline while never losing sight of the customer experience. And speaking of operations, innovation has been at the heart of our progress. We have focused on utilizing technology and innovation to make things better for the customer in a class-leading way which does not follow cookie cutter templates. Whether it is 10-minute food delivery through Bolt and Snack, driving better efficiencies in delivery through EcoSaver batching and AI-driven allocation and routing, enabling segment leading value through Maxaver and 99 Store and opening up new categories in quick commerce like medicines. Your company has been at the forefront of serving our country, growing consumption in a way that only a homegrown platform that understands India's pulse can. Our partners readily adopted the innovative solutions we unveiled to help them expand their business, including self-service advertising. Each of these innovations brings us closer to serving more customers and use cases more reliably with lesser friction and at a lower cost. But growth for us is not only about scale and profitability. It's also about responsibility. This year we formalized our ESG road map with concrete measurable targets. On the environment side, we are transitioning 30% of our delivery fleet to EVs, cutting single-use plastic in partner packaging by 70%. And working towards carbon neutral operations in all Swiggy managed facilities. Socially, we are expanding delivery partner welfare programs from accident insurance to income stability measures combined with skill development. And we've embedded ESG metrics into leadership tenets and KPIs so that accountability for sustainability sits at the very top of the organization. Over the years, governance has been a central theme at Swiggy. As we transitioned into the public world, we have made our disclosures more transparent through our much appreciated quarterly shareholders newsletter, outlined our story and priorities through a detailed annual report, which I'm sure you would have found informative, and voluntarily published a business responsibility and sustainability report or BRSR as well. We've strengthened our board with more independent directors to bring fresh perspectives and oversight and move towards an independent structure in line with global best practices. And we've stepped up investor engagement through consistent outreach to both domestic and international institutions, made ourselves available on platforms like conferences and initiated stock coverage through 25 research houses. Our aim is to go beyond compliance and comprehension to set the benchmark for how Indian companies can be both agile and accountable. At the core of all this is our customer-back philosophy. Every product, every process, every innovation starts with a simple question. What will truly improve the customer's life? This approach has helped us remain grounded even as we scale. We are not building Swiggy to be just another high-growth company. We are building it to become an institution, one that will outlast market cycles, earn trust year after year, and create a platform where innovation never stops. Looking ahead, our focus is clear. Drive profitable growth. Hit meaningful ESG milestones. Keep innovating at the intersection of technology, customer need, and partner success while continuing to strengthen our governance so that Swiggy stands tall as a gold standard. The coming years will not just be about delivering food or groceries. They will be about delivering impact. Together, we will build a Swiggy that is customer-loved, partner-friendly, socially responsible, and financially strong. I want to take this opportunity to thank our over 7,400 employees, our expanding family of six lakh delivery partners, the backbone of 2.5 lakh restaurants, merchant and brand partners, our over five lakh investors and most importantly the over 12.5 crore customers we have touched over the last 10 years. Your trust fuels our ambition and your feedback shapes our journey. Thank you.
Thanks Mr. Anand Kripalu. We now move on to the Q&A session. We will now call the names of the shareholders who have pre-registered themselves with the company one by one to pose their questions or queries. The shareholders are requested to restrict their queries to a maximum of 2 minutes. In case of any technical issues, the next shareholder who is in the queue will be called upon. The said shareholder can rejoin after the technical issue is sorted. Our first speaker shareholder is Mr. Sujan Mod. Kindly unmute your audio and video and proceed with your question.
Yeah. Namaskar. Respected chairman, other board of directors. I'm Sujan Mod. I'm attending this meeting for my residence in Kolkata. Sir, I'll not take more than two minutes. Sir, this is the first AGM after IPO. It's a very nice feeling to speak to you sir and this definitely is a point of celebration, first AGM after IPO. Sir, I have got few questions sir. What are the main challenges at this moment our company is facing to keep this momentum continuous and give us a guidance for next two years to the investors community. My third question is that what is the capex plan for particularly this year sir? Is there any new business verticals you're going to add to our this one? Any verticals you're going to add? Please tell us sir. Sir one more thing I want to tell you sir. It's my opinion actually sir. Nowadays this always we can see is a 10 minute delivery. We can say do 10 minute delivery but in that process the person who is delivering it doing it very rush and all in this city area. So it can be they can put their life in risk sometimes. So it can be made 15 minutes or 30% e vehicles you using. So when you are going to make it more if you can tell us sir. Page 174 I can see some pending litigations are there unfair trade practices and restrictive trade practices and others also they are pending. So what is your thought process on that? Please tell us. Before I finish definitely I'd like to thank our company secretary Madame Kavi Shiram and her whole team for being a very good investor services to the investors community ma'am thank you very much for connecting with us and giving us a very nice services. She is one of our best officers is no no doubt of it sir. Over to you for further proceedings. Thank you.
Thank you very much. Our next speaker shareholder is Manojumar Gupta. Kindly join us panelist and mute your audio and video and proceed with your question. Manojumar Gupta requesting you to kindly unmute your audio and video and proceed with your question. Go ahead.
Chairman, boards, fellow. My name is Manoj Gupta. I've joined this meeting from my resident city of Joy, Kolkata. I feel proud to be a shareholder of Swiggy. First of all, I warm welcome the new company secretary who served in better manner. Sir, what's your future plan and how you will protect the employees from the caste, creed and color by the customers. With this I strongly support all the resolutions with the hope that we will get good return in coming time under your leadership. Thank you sir.
Thank you very much. Good morning. Our next speaker shareholder is Bimal Krishna Sarkar. Kindly join us panelist. Unmute your audio and video and proceed with your question. Go ahead sir.
Sir, my company secretary Department 35.38%. Sir capital expend. Next chairman employee company sir.
Thank you very much. Our next speaker shareholder is Ashish Shankar Bansil. Kindly join us panelist. Unmute your audio and video and proceed with your question.
Hello respected chairman and board of director. Good morning everyone. Thank you for sending the report and connecting to this today. Already I have given my queries. I thank you very much for the distinguished. I hope you will give good TV and bonus upcoming year. Thank you so much sir.
Thank you very much. Our next speaker shareholder is Elizabeth Mascarinas requesting you to join as panelist. Unmute your audio and video and proceed with your question. Go ahead.
Hello. Hello. Am I? Yes sir. Thank you. Thank you chairman sir. Other members on the dais, my dear fellow shareholders and Mrs. C. Mascarinas speaking from Mumbai. First of all I thank the company secretary Madame Kavi Shiram for sending me annual report also registering me and giving me this platform which is very good to unlock. Now AR is annual report is full of information facts figures and self-explanatory adhering to all the norms of corporate governance. Our working is good, revenues are up. And this is the first year. So I feel there should be after the IPO there should be a celebration and we are in all the food deliveries and all. So the Swiggy must celebrate with us you know. Anyway our values behind I go to the page 51. Our values values behind vision on page grants CSR and ESG efforts going on. Now my query is we have 7,400 employees what is the average age and attrition level we have also ensured then that's a very good thing now we are in five verticals I think food delivery quick commerce out of home consumption platform innovative and supply chain and distribution which among these five we get good margins along with good growth on page 59 we have given the challenges among.
Go ahead, sir. You're a sir. Requesting to unmute, please. Yes, sir.
Another better meeting. Family everything. Blink military. Double. So last supply line service. last.
Thank you very much. Our next speaker shareholder is Santo Chopra. Kindly join us panelist and meet your audio and video and proceed with your question. Santo Chopra. Go ahead.
Yes, sir. Go ahead. You're audible.
Okay. Okay. Thank you. Sir, what is the shareholding pattern between private promoters, MIA holdings, SVF and public? What is the distribution or difference? And Swiggy providing nature calamity sufferers, drug addict sufferers? How many women employees are there in the company and what steps the company has taken to empower women employees? What is the whistleblower policy of your company?
