Eternal has announced strong third-quarter results, demonstrating robust operational performance across key financial metrics. The company's consolidated net profit showed remarkable growth, rising significantly from the previous quarter while meeting analyst expectations.

Financial Performance Overview

The company's Q3 results reflect strong operational efficiency and revenue growth momentum. Key financial metrics showed substantial improvement compared to the previous quarter, with performance exceeding analyst estimates in most categories.

Revenue and Profitability Growth

The company's revenue performance was particularly noteworthy, reaching ₹163 billion in Q3 compared to ₹135.9 billion in the previous quarter. This represents a solid 19.94% quarter-on-quarter growth and exceeded analyst estimates of ₹155 billion by approximately 5.16%.

Net profit demonstrated exceptional growth trajectory, increasing from ₹650 million to ₹1.02 billion quarter-on-quarter. The 57% growth in net profit aligned perfectly with analyst estimates, indicating strong operational execution and financial management.

Operational Efficiency Metrics

EBITDA performance showed significant improvement, rising to ₹3.68 billion from ₹2.39 billion in the previous quarter, representing a 53.97% quarter-on-quarter increase. The actual EBITDA substantially exceeded analyst estimates of ₹3 billion.

The EBITDA margin expanded to 2.26% from 1.76% in the previous quarter, marking a 50 basis points improvement. This margin expansion surpassed the estimated 1.9%, demonstrating enhanced operational efficiency and cost management capabilities.

Performance Summary

Eternal's Q3 results showcase strong financial performance with consistent growth across all major metrics. The company successfully exceeded revenue and EBITDA estimates while meeting net profit projections, indicating robust business fundamentals and effective operational management during the quarter.

Eternal Limited (formerly Zomato Limited) has filed its monitoring agency report for Q3FY26, demonstrating compliant utilization of proceeds from its ₹8,500.00 crore Qualified Institutions Placement (QIP) conducted in November 2024. The report, prepared by ICRA Limited as the monitoring agency, confirms adherence to regulatory requirements under SEBI regulations.

QIP Issue Overview

The company's QIP, conducted between November 25-28, 2024, involved issuing 33,64,73,755 equity shares at ₹252.62 per share, generating net proceeds of ₹8,436.12 crore. The funds were allocated across four strategic objectives with specific budget allocations.

Q3FY26 Utilization Progress

During Q3FY26, Eternal Limited deployed ₹1,528.33 crore across all four stated objectives. The quarterly utilization breakdown demonstrates active implementation of the company's strategic initiatives.

Compliance and Monitoring

ICRA Limited's monitoring report confirms no deviations from the objects of the issue, with all utilization aligned with the placement document disclosures. The monitoring agency verified fund deployment through statutory auditor certificates, management confirmations, and bank statement reviews. All government and statutory approvals related to the objectives have been obtained, and no unfavorable events affecting project viability were reported.

Unutilized Proceeds Deployment

The remaining ₹3,962.19 crore has been strategically invested across multiple instruments to optimize returns while maintaining liquidity. The deployment strategy includes fixed deposits with major banks, government securities, corporate deposits, and liquid funds.

Key Investment Categories:

• Bank Fixed Deposits: ₹2,185.00 crore across SBI, Kotak Mahindra, Axis, ICICI, and HDFC banks
• Government Securities: ₹337.52 crore in 7.10% G-Sec 2034 and 7.18% G-Sec 2033
• Corporate Deposits: ₹425.00 crore with Mahindra & Mahindra Financial Services
• Liquid Funds: Various mutual fund schemes for short-term liquidity

The investment portfolio generates returns ranging from 6.02% to 8.14%, with the total market value of investments reaching ₹4,277.50 crore including accrued earnings of ₹312.04 crore.

Implementation Timeline

All four objectives remain on schedule for completion within the planned timeframe of FY26-FY28. The company has not reported any delays in implementation, and the monitoring agency found no major deviations from earlier reports. The systematic approach to fund utilization demonstrates effective capital allocation aligned with the company's strategic growth plans.