Food delivery companies’ order volumes may dip in Q4FY26

Food delivery companies Swiggy and Eternal may experience a moderation in their gross order value (GOV) as restaurants have started either cutting down menus or shutting down after the shortage in commercial gas availability, a brokerage report read. 

According to a research report by Motilal Oswal Financial Services, Swiggy and Zomato’s GOVs are expected to grow at 20% and 15.3% as of Fiscal 2026. “If the commercial LPG shortage persists through the remainder of March, it could begin to reflect in a temporary decline in order volumes in 4Q,” the report read. 

About 60% of the import of LPG in India is imported and commercial usage constitutes 4% of the total LPG in the country. “A small restaurant typically consumes 1-2 commercial cylinders (19kg) per day, mid-size restaurants 3-5 cylinders, and large hotel kitchens 6-10 cylinders daily, depending on scale and operating hours,Inventory buffers across restaurants tend to be limited. Most kitchens maintain 2-6 days of cylinder inventory, given storage constraints and frequent delivery cycles. As a result, any supply disruption can begin to impact operations within 48-72 hours,” the analysts said in the report adding that storing gas of more than 100 Kg is impractical due to licensing requirements. 

The stocks of Swiggy and Eternal shed 1.1% as of March 12, 2026. 

The joint secretary to Department of Marketing & Oil Refinery at the Ministry of Petroleum Sujata Sharma said there were representations seeking release of commercial cylinders and following a review, it was decided “some commercial cylinders will be released.” 

A blockade in the Strait of Hormuz , through which a 80% to 85% of the natural gas imports are transported, has adversely affected eateries and fed panic among residential consumers. The Government, however, said household demand will be a priority.