Average Swiggy order value can show double-digit growth every year for foreseeable future; no plan to raise funds now: Rahul Bothra

economictimes.indiatimes.com:

Rahul Bothra, CFO, and Sriharsha Majety, MD & Group CEO, Swiggy, in conversation with ET Now post announcement of Q2 results.
Bothra says while some of Swiggy competitors have been raising funds, that is mostly defensive capital. Swiggy has a very strong balance sheet with Rs 8,000 crore plus cash balance existing with us. They have a profitable food delivery business that continues to accrue cash into the treasury and the quick commerce business, which is expected to turn profitable in six to seven quarters and for which they have a substantial cash balance. So, there are no near-term fundraising plans.
On the overall consolidated EBITDA loss and the net loss, which has widened on a sequential basis, what is adding to the pressure on the bottom line and when can we expect the loss to start narrowing?
Rahul Bothra: If you look at our overall numbers, we have improved our adjusted EBITDA by 30% in our B2C GOV businesses over the last year with an improvement of Rs 147 crore.

So, the operating numbers are the key. If you look on a sequential basis on a quarterly number, there is a slight increase in our loss due to the share-based compensation cost that has gone up.
We have given a certain amount of performance ESOPs grants to management.

A lot of these ESOPs are linked to performance of the share price and therefore, it is completely aligned to shareholder interest. 55% of the expected ESOP cost is linked to the performance grants. So, this is the marginal increase that we have seen.

However, on a year-on-year basis, we have seen a 5% reduction in our reported loss despite a Rs 91 crore increase in our ESOP charge. So, we have to see it in the light of both the yearly context as well as the quarterly context.