Eternal Ltd(ETERNAL)

NSE: ETERNALBSE: 543320

₹ 317+3.97%refreshed 23 Oct, 03:57 pm ISTMarket cap: ₹ 3.06 L crWebsite: www.zomato.comUpdated: 24 Oct 2026

About

Eternal Ltd operates India's leading food delivery platform (Zomato), quick commerce service (Blinkit), going-out platform (District), and restaurant supply business (Hyperpure). In FY26, 109 million customers transacted over $10 billion in B2C net order value (NOV) across its platforms. Quick commerce is now the largest segment at 69.5% of reported revenue in FY26, with consolidated revenue of Rs 54,364 crore.^[1][2][3]

Business segments

Quick commerce (Blinkit): 69.5% of FY26 reported revenue at Rs 37,779 crore, up from Rs 5,206 crore in FY25. Delivers products across categories in minutes from stores within a 2-3 km radius of the customer.^[2][4]
India food ordering and delivery (Zomato): 18.7% of FY26 reported revenue at Rs 10,159 crore, vs Rs 8,080 crore in FY25 and Rs 6,361 crore in FY24.^[2][4][5]
Hyperpure supplies (B2B): 9.9% of FY26 reported revenue at Rs 5,366 crore, vs Rs 6,196 crore in FY25. Supplies ingredients to restaurants.^[2][4]
Going-out (District): ticketing, dining-out, live events and stores discovery; revenue was Rs 737 crore in FY25 vs Rs 258 crore in FY24. FY26 NOV grew 42% YoY.^[4][5][1]

Products and services

District runs event, dining and entertainment ticketing; the acquired entertainment ticketing business has been consolidated since August 27, 2024. The District app was launched in FY25.^[4]
Nugget, an AI-native customer support platform, handled over 15 million interactions a month across Zomato, Blinkit and Hyperpure, resolving up to 80% of grievances on its own (FY25).^[4]
Zomato's Restaurant Services Hub has served over 6,000 restaurants with services such as FSSAI registration, hygiene audits and staffing (FY25).^[4]
Blinkit introduced a 10-minute ambulance service in Gurugram (FY25).^[4]
Bistro (10-minute food delivery) was expanding at ~10 kitchens per quarter as of Q1 FY27, from about 45 kitchens mainly in Delhi NCR and Bangalore in Q3 FY26.^[6][7]

Operations and store network

Blinkit operated 2,243 stores at end of Q4 FY26, adding 216 net new stores in the quarter; ~200 more were added in Q1 FY27 with capex of ~INR 700 crore.^[1][6]
Blinkit managed 5.2 million sq ft of warehousing space as of Mar-25.^[4]
Blinkit capex per store, including apportioned backend warehousing, is INR 2.5 crore (Q1 FY27).^[6]
Blinkit net working capital was 14 days in Q1 FY27; steady-state target is 12 days.^[6]
Blinkit inventory loss rate was ~1.8% of NOV in Q1 FY27; own-inventory share reached ~90% of NOV in Q3 FY26.^[6]
Hyperpure's own facility for processing sauces, spreads and pre-cut perishables became fully operational in FY25.^[4]

Key operating numbers

Consolidated B2C NOV was INR 26,880 crore in Q4 FY26, up 54% YoY.^[1]
Blinkit NOV grew 95.4% YoY and 8.2% QoQ in Q4 FY26, then 21% QoQ in Q1 FY27.^[1]
Food delivery NOV grew 18.8% YoY in Q4 FY26, the third consecutive quarter of acceleration.^[1]
Blinkit monthly transacting users exceeded 30 million in Q1 FY27; three-year-old cohorts spend 3x their initial level, driven mainly by order frequency.^[6]
District NOV grew 46.5% YoY in Q4 FY26; Adjusted EBITDA loss narrowed to INR 81 crore from INR 121 crore in Q3 FY26.^[1]
Hyperpure revenue grew 37% YoY in Q4 FY26 with Adjusted EBITDA of INR 5 crore (0.5% margin).^[1]
Blinkit Adjusted EBITDA was INR 37 crore (0.3% of NOV) in Q4 FY26, up from INR 4 crore in Q3 FY26; food delivery Adjusted EBITDA was INR 532 crore (5.5% of NOV).^[1]

Customers and reach

109 million customers transacted across Blinkit, District and Zomato in FY26.^[1]
District launched in the UAE in Q2 FY26 and added a stores category in India, onboarding ~3,400 outlets across six cities.^[8]
Eternal has branches in Dubai and Abu Dhabi (FY25).^[4]
About 19,000 restaurants were delisted for failing quality and governance standards (FY25).^[4]
Most Blinkit NOV growth in Q1 FY27 came from existing cities through cohort maturation and frequency, not new cities.^[6]

Expansion plans and targets

Blinkit targets 3,000 stores by March 2027, on track per Q4 FY26 commentary.^[1]
Blinkit targets >60% NOV CAGR over FY26-FY29; long-term Adjusted EBITDA margin guidance raised to 6% of NOV in Q1 FY27.^[1][6]
Management targets ~$1 billion consolidated Adjusted EBITDA by FY29 and expects B2C NOV to double from $10 billion to $20 billion in under two years from FY26.^[1]
Hyperpure targets ~$1 billion revenue with 4-5% Adjusted EBITDA margin within three years of Q3 FY26.^[7]
District targets $3 billion annual NOV and $150 million Adjusted EBITDA by FY30.^[1]
QIP proceeds are earmarked for setting up and running dark stores and warehouses, marketing and technology (FY25).^[4]
Nugget is in stealth mode as an enterprise AI product business as of Q1 FY27, with details expected by end of calendar 2026.^[6]

Market Cap

₹3,05,916 Cr

High / Low

₹345 / 213

Stock P/E

692.8

Price / Book

9.7

Book Value

₹32

EPS

₹0.4

No. of Shares

965.04 Cr

ROCE

3.0%

ROE

1.2%

OPM

1.8%

Debt / Equity

0.00

Sales

₹54,364 Cr

Net Profit

₹366 Cr

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