Zomato, the popular food delivery and quick commerce platform, has achieved a significant milestone in its market performance, overtaking the aerospace giant Hindustan Aeronautics Limited (HAL) in terms of market capitalization. This surge comes on the heels of Zomato's impressive first-quarter financial results.

Market Capitalization Milestone

Zomato's market capitalization has reached Rs 3.10 lakh crore, edging past HAL's Rs 3.00 lakh crore. This remarkable achievement underscores the growing investor confidence in the food tech sector and Zomato's business model.

Q1 Financial Highlights

The company reported a robust 23% quarter-on-quarter increase in revenue, reaching Rs 7,167.00 crore. This figure surpassed analyst estimates of Rs 6,624.00 crore, demonstrating Zomato's strong performance in the food delivery and quick commerce segments.

However, it's worth noting that Zomato's net profit experienced a 36% sequential decline, settling at Rs 25.00 crore for the quarter.

Stock Performance

Zomato's stock has shown remarkable momentum in recent weeks:

• The share price has climbed nearly 20% in the past month
• It rose from Rs 256.00 to Rs 322.00

This upward trajectory reflects growing investor optimism about Zomato's business prospects and market position.

Comparison with HAL

While Zomato celebrates its market cap milestone, it's important to note the contrasting performance of Hindustan Aeronautics Limited:

• HAL reported a 4.1% year-on-year decline in consolidated net profit to Rs 1,377.00 crore
• The company's stock has seen a 3.80% decrease in the past month, dropping from Rs 4,651.00 to Rs 4,475.00

Analyst Perspective

UBS, a global financial services firm, has reduced HAL's valuation multiples, citing several factors:

• Execution challenges
• Margin risks
• Lack of new large orders until financial year 2028

Corporate Governance Update

In a recent development, Zomato, now known as Eternal Limited, held its 15th Annual General Meeting (AGM). Key resolutions passed at the AGM include:

1. Re-appointment of Deloitte Haskins & Sells as Statutory Auditors for a second term of 5 years
2. Appointment of Chandrasekaran Associates as Secretarial Auditors for 5 consecutive years

These appointments reflect Zomato's commitment to maintaining strong corporate governance practices as it continues its growth trajectory.

The contrasting fortunes of Zomato and HAL highlight the dynamic nature of India's stock market, where technology-driven platforms are increasingly gaining favor among investors. As Zomato continues to expand its services and market reach, it will be interesting to see how this impacts its long-term market position and financial performance.

Zomato 's quick-commerce subsidiary, Blinkit, is taking significant strides in expanding its 10-minute ambulance service in Gurugram while developing an in-house paramedic training program. This move aims to enhance the efficiency and reach of its emergency medical services.

Rapid Expansion and Coverage

Since the beginning of the year, Blinkit's ambulance fleet has more than doubled, growing from 5 to 12 ambulances. These vehicles are now stationed across 6 depots, extending their coverage from the initial Golf Course Road area to nearly half of Gurugram. This expansion marks a substantial increase in the service's accessibility to residents in need of urgent medical attention.

Service Performance and Impact

The ambulance service, which was launched on January 2, 2025, has already made a significant impact:

• Responded to 594 emergency calls
• 50% of these calls were for critical emergencies
• Achieved a 10-minute response time in 83% of cases

These statistics underscore the service's efficiency and its potential to save lives through rapid response times.

Service Features and Pricing

Blinkit's ambulance service offers:

• A flat fee of ₹2,000.00 per call
• Fully equipped ambulances with:
  • Oxygen cylinders
  • Automated External Defibrillators (AEDs)
  • Stretchers
  • Monitors
  • Suction machines
  • Emergency medicines
• Staffing for each ambulance includes:
  • A paramedic
  • An assistant
  • A trained driver

Future Plans and Expansion

Albinder Dhindsa, CEO of Blinkit, has emphasized that profit is not the primary goal for this service. The company has ambitious plans to scale the ambulance service to all major cities over the next two years, potentially revolutionizing emergency medical response across urban India.

Potential Venture into Online Pharmacy

In addition to the ambulance service, Blinkit has expressed interest in entering the online pharmacy space. This move is aimed at improving access to medication for consumers. However, the company acknowledges that legal complexities have so far prevented their entry into this sector.

In-House Paramedic Training Program

To further strengthen its ambulance service, Blinkit is developing an in-house paramedic training program. This initiative is expected to ensure a steady supply of well-trained paramedics, potentially improving the quality and consistency of care provided during emergencies.

The expansion of Blinkit's 10-minute ambulance service and the development of an in-house training program demonstrate Zomato's commitment to diversifying its services beyond food delivery and quick commerce. As the service continues to grow, it could significantly impact emergency medical care in urban areas across India.