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As of 2026-08-25
Eternal's sales have shown a strong upward trend, increasing from ₹12,114 crore in March 2024 to a projected ₹54,364 crore by March 2026. Similarly, net profit has shifted from a loss of ₹971 crore in March 2023 to a profit of ₹351 crore in March 2024, with projections indicating ₹527 crore in March 2025 and ₹366 crore in March 2026.
Eternal's borrowings have significantly increased over the years. They were ₹70 crore in March 2022, rising to ₹749 crore in March 2024, and are projected to reach ₹4,592 crore by March 2026. This indicates a substantial increase in the company's debt.
On August 24, 2026, Eternal experienced a wide intraday price range, trading across a materially wider price range than usual. Additionally, on the same date, the stock opened materially below the previous close, indicating a sharp repricing at the open. On July 27, 2026, an upward price movement of 2.71 standard deviations was recorded.
On a daily basis, Eternal is in a strong uptrend, with the price above its 20, 50, and 200-day moving averages. The risk assessment indicates contained risk, with price swings considered higher than typical but within producer thresholds. On a weekly basis, the trend is a weak uptrend, with the price above its 20-day moving average, and the risk is assessed as elevated.
Domestic Institutional Investors (DIIs) have steadily increased their holdings from 3.05% in March 2022 to a projected 35.88% by March 2026. Conversely, Foreign Institutional Investors (FIIs) have decreased their stake from 55.11% in March 2024 to a projected 32.61% by March 2026.
Recent drawdown and price variability remain within the producer's contained-risk thresholds.
Primary driver: Price swings are higher than typical
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Upward price movement of 2.71 standard deviations recorded on 2026-07-27.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | PEAK₹20,211 crore | ₹17,292 crore | ₹16,315 crore | ₹13,590 crore | ₹7,167 crore |
| Expenses | PEAK₹20,314 crore | ₹17,406 crore | ₹16,493 crore | ₹13,813 crore | ₹7,433 crore |
| Profit Before Exceptional Items And Tax | PEAK₹272 crore | ₹228 crore | ₹170 crore | ₹129 crore | ₹88 crore |
| Profit Loss For Period | ₹92 crore | PEAK₹174 crore | ₹102 crore | ₹65 crore | ₹25 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹0.10 per share | PEAK₹0.19 per share | ₹0.11 per share | ₹0.07 per share | ₹0.03 per share |
| Finance Costs | PEAK₹151 crore | ₹132 crore | ₹107 crore | ₹86 crore | ₹67 crore |
In the quarter ended 30 June 2026, Eternal Limited reported strong sequential revenue growth alongside a proportionate rise in operating expenses. Pre-tax earnings increased, but the final profit after tax declined sharply due to a substantial jump in tax expenses. Finance costs continued their upward trajectory, and the company's expense breakdown reveals a large undetailed portion of total costs.
Revenue from operations reached ₹20,211 crore, marking a 16.9% sequential increase from ₹17,292 crore in the prior quarter and an 182% year-over-year rise from ₹7,167 crore. Operating expenses grew at a nearly identical pace, rising 16.7% sequentially to ₹20,314 crore. The parallel movement in top-line revenue and total expenses indicates that the cost base expanded in step with transaction volume during this period.
Pre-tax profit before exceptional items rose 19.3% sequentially to ₹272 crore, up from ₹228 crore. Despite this improvement in operating earnings, profit after tax fell 47.1% to ₹92 crore, down from ₹174 crore in the previous quarter. The divergence is directly attributable to tax expense, which increased to ₹180 crore from ₹54 crore. The higher tax outflow absorbed the sequential gains in pre-tax profit, resulting in a lower net profit for the period.
The largest single expense component was purchases of stock in trade at ₹12,860 crore. Employee benefits accounted for ₹1,068 crore, depreciation for ₹546 crore, and materials consumed for ₹47 crore. Finance costs rose 14.4% sequentially to ₹151 crore, continuing a consistent upward trend over the last five quarters, where they increased from ₹67 crore to ₹151 crore. The sum of these identified expense categories totals ₹14,672 crore, leaving ₹5,642 crore within the total expenses of ₹20,314 crore that is not itemized in the current reporting.
The relationship between segment revenue and consolidated revenue shifted compared to the prior quarter. In the quarter ended 30 June 2026, consolidated revenue of ₹20,211 crore matched segment revenue exactly, while inter-segment revenue was reported separately at ₹94 crore. In the preceding quarter, consolidated revenue of ₹17,292 crore was the sum of segment revenue (₹17,214 crore) and inter-segment revenue (₹78 crore). This change in how inter-segment transactions are treated in the consolidated total differs from the previous reporting period.
Eternal Limited delivered strong sequential revenue growth and higher pre-tax earnings in the quarter ended 30 June 2026. However, net profit declined by nearly half compared to the prior quarter due to a sharp increase in tax expenses. While the business continues to scale, finance costs have risen steadily over five consecutive quarters, and a significant portion of the total expense base remains undetailed in the current reporting structure.
Exchange disclosures and regulatory announcements for Eternal.
Eternal Limited (formerly Zomato Limited) has published newspaper advertisements regarding its 16th Annual General Meeting (AGM) and e-voting information. The advertisements appeared in the Financial Express and Jansatta. The company will also host this information on its website, www.eternal.com.
Eternal Limited (formerly Zomato Limited) has sent physical communications to members without registered email addresses, providing the weblink and website path to access the Notice and Annual Report for the financial year ended March 31, 2026. The 16th Annual General Meeting is scheduled for August 26, 2026. The notice and annual report are available on the company's website and stock exchange websites. Members can request physical copies or update their email addresses through the provided links and procedures.
Eternal Limited (formerly Zomato Limited) announced its 16th Annual General Meeting will be held on August 26, 2026, via video conference. The company will also release its Annual Report for the financial year ended March 31, 2026. The cut-off date for e-voting eligibility is August 19, 2026, with remote e-voting available from August 22 to August 25, 2026.
Eternal Limited (formerly Zomato Limited) held an earnings conference call on July 22, 2026, to discuss Q1 FY27 results. Management discussed increased long-term guidance for quick commerce to 6%, citing investments in store efficiency and larger store sizes. They addressed competitive intensity in quick commerce, noting it has become more predictable, primarily involving subsidies, and that Q1 FY27 was the peak of this intensity. The company also discussed its strategy of focusing on value and operational efficiency over deep discounting, citing past experiences where discount-led growth was unsustainable. Discussions also covered Blinkit's Average Order Value (AOV) remaining flat year-on-year, food delivery customer growth, and the cautious expansion of the Bistro business with approximately 10 new kitchens per quarter.
ETERNAL LIMITED will hold its 16th Annual General Meeting on Wednesday, August 26, 2026, at 12:00 PM in New Delhi, conducted via Video Conference or Other Audio-Visual Means. The agenda includes adopting the audited financial statements for the year ended March 31, 2026, and considering the re-appointment of Sanjeev Bikhchandani, Non-Executive Nominee Director, who retires by rotation. His tenure is noted as starting August 26, 2026, and ending August 31, 2027, for reporting purposes.
Eternal Limited has disclosed the transcript for its Q1 FY27 earnings call, which took place on July 22, 2026. The transcript was uploaded to the company's website on July 29, 2026, at 14:32:00. This disclosure follows a prior intimation to the exchange on July 15, 2026.
ETERNAL LIMITED (formerly Zomato Limited) published newspaper advertisements on July 28, 2026, announcing its 16th Annual General Meeting (AGM) scheduled for August 26, 2026. The AGM will be held via Video Conferencing/Other Audio Visual Means and will include information on e-voting.
ETERNAL LIMITED (formerly Zomato Limited) published newspaper advertisements on July 28, 2026, announcing its 16th Annual General Meeting (AGM) scheduled for August 26, 2026. The AGM will be held via Video Conferencing/Other Audio Visual Means and will include information on e-voting.
Eternal Limited (formerly Zomato Limited) submitted its monitoring agency report for the quarter ended June 30, 2026, confirming no deviation in the utilization of proceeds from its Qualified Institutions Placement (QIP) issue. The company raised INR 8,500 Crore through the QIP, with net proceeds of INR 8,436.12 Crore. As of the end of the quarter, INR 6,352.94 Crore had been utilized, leaving INR 2,083.18 Crore unutilized. The unutilized funds are invested in various fixed deposits and government securities.
Eternal Limited's board approved unaudited financial results for the quarter ended June 30, 2026, and the notice for the 16th Annual General Meeting on August 26, 2026. The company also approved a business transfer agreement to transfer its 'Nugget by Zomato' business to its wholly-owned subsidiary, Carthero Technologies Private Limited, for a cash consideration of INR 35 crore. The board meeting took place on July 22, 2026.
Eternal Limited's board approved unaudited financial results for the quarter ended June 30, 2026, and the notice for the 16th Annual General Meeting on August 26, 2026. The company also approved a business transfer agreement to transfer its 'Nugget by Zomato' business to its wholly-owned subsidiary, Carthero Technologies Private Limited, for a cash consideration of INR 35 crore. The board meeting took place on July 22, 2026.
Eternal Limited's board approved unaudited financial results for the quarter ended June 30, 2026, and the notice for the 16th Annual General Meeting on August 26, 2026. The company also approved a business transfer agreement to transfer its 'Nugget by Zomato' business to its wholly-owned subsidiary, Carthero Technologies Private Limited, for a cash consideration of INR 35 crore. The board meeting took place on July 22, 2026.
Eternal Limited's board approved unaudited financial results for the quarter ended June 30, 2026, and the notice for the 16th Annual General Meeting on August 26, 2026. The company also approved a business transfer agreement to transfer its 'Nugget by Zomato' business to its wholly-owned subsidiary, Carthero Technologies Private Limited, for a cash consideration of INR 35 crore. The board meeting took place on July 22, 2026.
Eternal Limited (formerly Zomato Limited) has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) effective July 22, 2026. This revision aligns the code with updated regulatory requirements and includes definitions for terms like 'Connected Person,' 'Designated Person,' and 'Legitimate Purpose.' The company will host the amended code on its website, www.eternal.com.
Eternal Limited (formerly Zomato Limited) reported its Q1 FY27 results, with consolidated B2C NOV growing 54% YoY to INR 31,120 crore and Adjusted Revenue increasing 173% YoY to INR 20,648 crore. Consolidated Adjusted EBITDA grew 223% YoY to INR 555 crore. The company also disclosed ongoing legal proceedings with GST authorities regarding delivery charges, with orders and show cause notices totaling INR 447 crore, which the company is contesting.
Eternal Limited (formerly Zomato Limited) reported its Q1 FY27 results, with consolidated B2C NOV growing 54% YoY to INR 31,120 crore and Adjusted Revenue increasing 173% YoY to INR 20,648 crore. Consolidated Adjusted EBITDA grew 223% YoY to INR 555 crore. The company also disclosed ongoing legal proceedings with GST authorities regarding delivery charges, with orders and show cause notices totaling INR 447 crore, which the company is contesting.
Eternal Limited (formerly Zomato Limited) has amended its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) effective July 22, 2026. This revision aligns the code with updated regulatory requirements and includes definitions for terms like 'Connected Person,' 'Designated Person,' and 'Legitimate Purpose.' The company will host the amended code on its website, www.eternal.com.
Eternal Limited (formerly Zomato Limited) submitted its monitoring agency report for the quarter ended June 30, 2026, confirming no deviation in the utilization of proceeds from its Qualified Institutions Placement (QIP) issue. The company raised INR 8,500 Crore through the QIP, with net proceeds of INR 8,436.12 Crore. As of the end of the quarter, INR 6,352.94 Crore had been utilized, leaving INR 2,083.18 Crore unutilized. The unutilized funds are invested in various fixed deposits and government securities.
Eternal Limited (formerly Zomato Limited) will hold a board meeting on July 22, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. An earnings conference call to discuss these results is scheduled for the same day at 5:00 PM IST. Pre-registration is required for the call, and a transcript and audio recording will be available on the company's investor relations website.
Eternal Limited (formerly Zomato Limited) will hold a board meeting on July 22, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. An earnings conference call to discuss these results is scheduled for the same day at 5:00 PM IST. Pre-registration is required for the call, and a transcript and audio recording will be available on the company's investor relations website.
Eternal Limited (formerly Zomato Limited) has submitted a certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, received from Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that no demat requests were processed for the company during the quarter ended June 30, 2026.
Eternal Limited (formerly Zomato Limited) has submitted a certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, received from Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that no demat requests were processed for the company during the quarter ended June 30, 2026.
On July 01, 2026, Eternal Limited's Nomination and Remuneration Committee approved the grant of 13,742,054 stock options to eligible employees under three ESOP plans: ESOP 2014, ESOP 2021, and ESOP 2024. The options are exercisable within 10-12 years from vesting or listing, with an exercise price of ₹1 per option. These grants cover 14,170,790 equity shares.
On July 01, 2026, Eternal Limited's Nomination and Remuneration Committee approved the grant of 13,742,054 stock options to eligible employees under three ESOP plans: ESOP 2014, ESOP 2021, and ESOP 2024. The options are exercisable within 10-12 years from vesting or listing, with an exercise price of ₹1 per option. These grants cover 14,170,790 equity shares.
Eternal Limited (formerly Zomato Limited) has closed its trading window for dealing in company securities from June 20, 2026, until 48 hours after the declaration of un-audited financial results for the quarter ending June 30, 2026. Designated Persons and their immediate relatives are prohibited from trading during this period. The functionality to freeze PANs of Designated Persons and their immediate relatives will be available from July 1, 2026.
Recent market and company developments associated with Eternal.
Samir Arora-backed Helios Flexi Cap Fund increased exposure to Swiggy, Paytm and 20 other stocks in July, while adding SBI Funds Management and four others to its portfolio. The fund also exited Varun Beverages and India Shelter Finance, while trimming its holdings in MCX and BSE during the month.
Muted open follows Thursday’s rebound, when the Nifty gained 154 points and the Sensex rose 628 points, snapping a seven-session losing streak
The BSE Sensex rose 628 points to 77,538, while the Nifty gained 154 points to 24,232. The Nifty Bank index advanced 256 points to 57,496, while the Nifty Midcap index gained 263 points to 63,672.
The implied valuation of Instamart becomes a key monitorable as the company starts operating an inventory-owned model alongside its online marketplace.
At 9:14 am, the BSE Sensex trades at 77,395.70, up 486.02 points, or 0.63%, while the NSE Nifty is at 24,205.05, up 126.75 points, or 0.53%.
Shiprocket shares surged 48% on debut, ending at Rs 143.50 on the BSE, taking its market capitalisation to Rs 10,441 crore. The strong listing boosted returns for early investors including Bertelsmann and Eternal, while Lightrock is set to incur a loss. Shiprocket’s FY26 revenue rose 24% to Rs 2,024 crore.
The stock subsequently touched an intraday high of ₹144, pushing gains to nearly 42% from the issue price by mid-morning trade.
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Swiggy on Tuesday received shareholders' approval to cap its aggregate foreign ownership at 49.5 per cent, months after they rejected a similar proposal in May, paving the way for the company to qualify as an Indian-owned and controlled company (IOCC).
Zepto, Blinkit, Instamart
Bernstein has removed Avenue Supermarts from its India portfolio following its recent outperformance and rising risks to urban growth from quick commerce, something that the management also cited as a structural issue in its latest analyst meet.
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Indian stock indices Sensex and Nifty 50 are set to open lower on August 17 due to weak global signals. The Gift Nifty indicated a subdued start, trading below previous closes. Geopolitical tensions and oil prices remain critical factors affecting market sentiment.
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Lenskart’s overseas business delivered a sharp margin boost in Q1, while India continued its store expansion. Sustaining profitability of new stores will be a key monitorable.
In the grey market, Shiprocket shares are currently commanding a premium of around 35% over the upper end of the IPO price band, signalling strong investor interest ahead of the listing.
CLSA retained its "high-conviction outperform" rating on Eternal with a price target of ₹506. The brokerage said that the June quarter reinforced the brokerage's view on strong execution with both quick commerce and food delivery seeing growth acceleration.
Shiprocket IPO entered Day 2 with 97% overall subscription on Day 1, driven by retail investors bidding 3.34 times. The grey market premium signals potential listing gains of 35% over the Rs 97 price cap. Major brokerages have issued 'Subscribe' ratings, citing strong positioning in India's expanding e-commerce ecosystem.
Shiprocket has raised ₹727.41 crore from anchor investors, including the New York State Teachers Retirement System, managed by Goldman Sachs Asset Management, Nomura Funds Ireland, Société Générale-ODI and ICICI Prudential Life Insurance Company, among others.
Info Edge revenue from operations rose 11.3% to ₹880 crore from ₹791 crore in the previous year, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased nearly 29% to ₹340.4 crore from ₹264.1 crore.
Samir Arora, Helios Flexicap
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India, Economy, Law, opinion, competition law
Sensex Today | Stock Market LIVE Updates: Sensex contracts face weekly expiry, testing the CAS system. Nifty defended 24,500, Nifty Bank defended 57,500. Over 50 major results are due today.
Comprehensive Section Breakdown for Eternal
Strategic Vision: Technology and e-commerce company focused on food and quick-commerce.
Category: Consumer Tech
The flagship consumer application for searching restaurants, reading user reviews, ordering food for home delivery, and booking dining tables.
Key Products & Services: Zomato
Category: Consumer Tech
A B2C instant-delivery marketplace providing groceries, fresh produce, electronic accessories, beauty products, and home essentials within minutes.
Key Products & Services: Blinkit
Category: Supply Chain
A B2B platform that supplies ingredients, packaging, dairy, and kitchen supplies to restaurant owners and grocery fulfillment centers.
Key Products & Services: Hyperpure
Category: Consumer Tech
The group's platform for booking concert tickets, movies, sporting events, and managing local recreational bookings.
Key Products & Services: District
Core Thesis: Eternal Limited operates as an integrated holding ecosystem, connecting distinct consumer-facing brands with consolidated backend supply chain infrastructure.
• Hyperpure as a Supply Backbone: Hyperpure operates processing centers and warehouses, sourcing directly from farms and supplying raw materials to restaurant partners and quick-commerce fulfillment centers. • Quick-Commerce Fulfillment: Blinkit utilizes a dense local network of dark stores replenished through Hyperpure's centralized distribution network for efficient grocery delivery. • Food Delivery Logistics: The Zomato food delivery business connects consumers, restaurants, and delivery partners, leveraging merchant relationships to cross-sell Hyperpure supplies. • Cross-App Promotion: The company implements cross-app banners and integrations to lower customer acquisition costs across its various business lines.
• Integrated holding ecosystem connecting consumer brands with consolidated backend supply chain infrastructure.
• Direct sourcing of raw materials by Hyperpure eliminates intermediaries and ensures quality control.
• Leveraging merchant relationships from food delivery to cross-sell B2B supply agreements.