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Eternal Limited Board Approves Q4FY26 Results and Asset Transfer Agreement

Eternal Limited's board meeting on April 28, 2026 approved Q4FY26 financial results receiving unmodified audit opinion from Deloitte Haskins & Sells, and sanctioned asset transfer agreement with wholly-owned subsidiary WEPL involving District platform technology stack for ₹24.19 crore consideration, expected to complete by May 1, 2026.

29Apr 26

Eternal Limited Monitoring Agency Report on QIP Proceeds Utilization for Q4FY26

Eternal Limited has submitted its monitoring agency report for the quarter ended March 31, 2026, regarding the utilization of proceeds from its qualified institutions placement (QIP). ICRA Limited, the monitoring agency, confirmed that the utilization of proceeds is in line with the objects of the issue with no deviation observed. The company raised INR 8,436.12 crore through the QIP issue conducted between November 25 and November 28, 2024, issuing 33,64,73,755 equity shares at Rs 252.62 per share. The proceeds were allocated across four main categories: expenditure towards dark stores and warehouses (Rs 2,137 crore), advertising and marketing initiatives (Rs 2,492 crore), technology infrastructure investment (Rs 1,769 crore), and general corporate purposes (Rs 2,038.12 crore). During Q4FY26, the company utilized Rs 217.98 crore for general corporate purposes, bringing the total utilized amount to Rs 5,599.08 crore across all categories. The unutilized proceeds of Rs 2,837.04 crore have been deployed in various instruments including fixed deposits with major banks, corporate deposits, government securities, and liquid funds, generating returns ranging from 6.30% to 8.14%. All implementation projects are reported to be on schedule with completion targets set for FY26-FY28.

28Apr 26

Eternal Sets Ambitious Target of $1 Billion Adjusted EBITDA by FY29

Eternal has announced its strategic target to achieve $1 billion in adjusted EBITDA by fiscal year 2029. This ambitious financial goal reflects management's confidence in the company's growth trajectory and operational capabilities. The announcement represents a significant milestone in the company's long-term strategic planning and market positioning.

13Apr 26

Goldman Sachs Maintains Buy Rating on Eternal Limited with ₹350 Target Price

Goldman Sachs maintains its Buy rating on Eternal Limited with a ₹350 target price, viewing TAM concerns for Blinkit as overdone. The investment bank highlights continued market share gains against Swiggy and identifies multiple margin expansion opportunities despite acknowledging near-term competitive growth pressures.

07Apr 26

Eternal Limited Submits Quarterly Demat Certificate for Q4 FY26 to Stock Exchanges

Eternal Limited (formerly Zomato Limited) filed its quarterly certificate with BSE and NSE for the quarter ended March 31, 2026, pursuant to SEBI Depositories Regulation 74(5). The certificate, signed by Company Secretary Sandhya Sethia on April 6, 2026, confirms that registrar MUFG Intime India Private Limited received no demat requests during the quarter. This regulatory compliance filing demonstrates the company's adherence to SEBI requirements and provides transparency regarding share transfer activities.

02Apr 26

Eternal Limited Grants 7,418,741 Stock Options Under Three ESOP Schemes

Eternal Limited (formerly Zomato Limited) granted 7,418,741 stock options to eligible employees on April 1, 2026, distributed across three ESOP schemes. The grants include 5,616,479 options under ESOP 2024, 1,802,224 under ESOP 2021, and 38 under ESOP 2014. Each option converts to one equity share at ₹1 exercise price, covering 7,673,303 total shares with no lock-in restrictions.

24Mar 26

Kotak Securities Issues Buy Rating for Eternal with Target Price of Rs 375

Kotak Securities has assigned a Buy rating to Eternal with a target price of Rs 375, emphasizing the company's platform fee increases to offset rising operational costs in packaging, distance, and fuel segments. The brokerage expects potential industry-wide adoption of similar strategies, with expanded delivery radius helping sustain segment contribution margins.

20Mar 26

Zomato Raises Food Delivery Fee to ₹14.90 From ₹12.50 Per Order

Zomato has increased its food delivery fee to ₹14.90 per order from ₹12.50, representing a ₹2.40 increase or 19.20% rise in delivery charges. This pricing adjustment affects all customers using the food delivery platform and reflects the company's revised fee structure in the competitive food delivery market.

18Mar 26

Eternal Limited Receives GST Orders Worth ₹10.97 Crore for FY20 and FY23 Periods

Eternal Limited disclosed receiving GST orders worth ₹10.97 crore from tax authorities on March 18, 2026, covering periods 2019-20 and 2022-23. The orders include additional interest of ₹2.70 crore and penalties totaling ₹5.58 crore for alleged short payment of taxes. The company expressed confidence in its case merits and plans to file appeals against both orders.

13Mar 26

Eternal Limited Shareholders Approve Board Restructuring Through Postal Ballot

Eternal Limited shareholders approved all five resolutions in the postal ballot concluded March 13, 2026, including re-appointment of four independent directors and appointment of Deepinder Goyal as Vice Chairman. The remote e-voting process showed strong support with approval rates ranging from 76.23% to 99.65% across different resolutions.

13Mar 26

UBS Maintains Buy Rating on Eternal with ₹375 Target Price Amid Strong Food-Delivery Growth

UBS Group AG maintains its Buy rating on Eternal with a ₹375 target price, citing strong industry food-delivery volume growth of approximately 20-21% year-on-year projected for February 2026. The company has maintained stable market share in Q4, though potential volume impacts are expected in March-April due to cooking gas shortages.

26Feb 26

Eternal Records Major Block Trade Worth ₹2,443.2 Crore on BSE

Eternal has executed a major block trade on BSE worth ₹2,443.2 crore involving approximately 98.89 million shares at ₹247.05 per share. This substantial institutional transaction reflects significant market activity and provides insights into large investor sentiment towards the company's stock.

11Feb 26

Eternal Limited Launches AI-Powered Hotline for Delivery Partner Onboarding

Eternal Limited has confirmed the launch of an AI-powered hotline to streamline delivery partner onboarding, responding to BSE's inquiry about the initiative. The company clarified on February 11, 2026, that this technological enhancement aims to make the onboarding process more convenient and hassle-free for delivery partners. Management emphasized that this represents a routine business improvement that does not require regulatory disclosure under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

11Feb 26

Eternal Limited Announces Postal Ballot for Independent Director Re-appointments and Vice Chairman Appointment

Eternal Limited has issued a postal ballot notice for shareholder approval via remote e-voting from February 12-March 13, 2026. The company seeks to re-appoint four independent directors for second five-year terms with INR 1,00,00,000 annual remuneration each, plus INR 1,00,000 sitting fees per meeting. Additionally, shareholders will vote on appointing founder Deepinder Goyal as Vice Chairman and Non-Executive Director following his transition from Group CEO role to focus on strategic oversight and governance.

06Feb 26

Deepinder Goyal Steps Down as Eternal Limited CEO, Albinder Dhindsa Named Successor

Deepinder Goyal has resigned as Managing Director and CEO of Eternal Limited (formerly Zomato), effective February 1, 2026, with Albinder Dhindsa taking over as Group CEO. Goyal will transition to Vice Chairman role, subject to shareholder approval, to pursue higher-risk ventures outside the public company framework. All his unvested ESOPs will revert to the company's ESOP pool to benefit future leaders without additional shareholder dilution.

06Feb 26

Eternal Limited Announces Dissolution of Netherlands Step-Down Subsidiary

Eternal Limited (formerly Zomato Limited) has disclosed the dissolution of its step-down subsidiary Zomato Netherlands B.V., effective January 27, 2026. The company received confirmation on February 5, 2026, and informed stock exchanges on February 6, 2026, under SEBI Regulation 30. This follows an earlier intimation from April 9, 2025, indicating the dissolution process had been underway for several months.

22Jan 26

Eternal Leadership Transition May Weigh on Stock Despite Margin Recovery, Warns Analyst

Dharmesh Kant from Cholamandalam Securities warns that Eternal's unexpected leadership transition may trigger stock volatility despite sequential operating margin improvement to 2.3%. The analyst expects negative market reaction to Deepinder Goyal's sudden departure, particularly given its timing during the company's profitability recovery phase. While quick commerce cash burn remains a key concern, Blinkit's EBITDA breakeven provides cautious optimism, though sustainability questions persist amid intense competition.

22Jan 26

Eternal Share Price Surges 7% Following Q3 Results Release

Eternal shares surged over 7% in early trading on Thursday after the company released its Q3 results. The stock reached an intraday peak of ₹304.20 per share on BSE, representing a 7.33% gain, before moderating to ₹290.35 per share by 9:25 AM with a 2.45% increase.

22Jan 26

Eternal Announces Strategic Shift to Inventory Model with 1% Accretion Benefit Expected

Eternal has announced a strategic shift to an inventory-based business model, with management providing specific guidance on expected benefits. The company anticipates realizing a full 1% accretion benefit from this transition within six to nine months. This operational change represents a significant shift in the company's business approach, with management maintaining transparent communication about implementation timelines and expected financial impact.

22Jan 26

Eternal Plans Increased CapEx Per Store for Automation and Larger Formats

Eternal has provided guidance on increased capital expenditure per store for automation investments and larger store formats in coming quarters. The company projects maintaining net working capital days within an 18-day range while targeting ROCE above 40%, reflecting a strategic focus on operational efficiency and technological advancement.

22Jan 26

Eternal Management Targets District Business Breakeven Within Four to Six Quarters

Eternal management has provided guidance indicating that District business losses are expected to decrease sequentially from Q3 FY26, with the company targeting breakeven within four to six quarters. This strategic roadmap reflects management's confidence in improving operational efficiency and achieving profitability in the District business segment.

22Jan 26

Eternal Reaffirms $3 Billion NOV Guidance for District Business by FY30

Eternal has reaffirmed its $3 billion NOV guidance for the District business by FY30, implying over 30% CAGR for the next four years. The ambitious growth trajectory is expected to be driven primarily by market share expansion, with management demonstrating continued confidence in the strategic direction during the recent conference call.

22Jan 26

Eternal Management Confident on Long-Term Quick Commerce Margins Despite Near-Term Uncertainty

Eternal management provided guidance on quick commerce margins during a conference call, indicating near-term unpredictability due to competitive intensity while expressing high confidence in achieving 5-6% NOV margins long-term. The company's outlook reflects strategic focus on sustainable profitability despite current market challenges.

22Jan 26

Eternal Reports Strong Q3 Results with 57% QoQ Growth in Net Profit

Eternal delivered exceptional Q3 results with consolidated net profit growing 57% QoQ to ₹1.02 billion, meeting analyst estimates. Revenue increased 20% QoQ to ₹163 billion, surpassing estimates of ₹155 billion. EBITDA rose 54% QoQ to ₹3.68 billion, exceeding estimates of ₹3 billion, while EBITDA margin improved to 2.26% from 1.76% QoQ, beating the estimated 1.9%.

21Jan 26

Eternal Limited Reports Compliant QIP Proceeds Utilization for Q3FY26

Eternal Limited has filed its Q3FY26 monitoring report showing compliant utilization of ₹8,436.12 crore QIP proceeds. The company deployed ₹1,528.33 crore during the quarter across dark stores operations, marketing initiatives, technology infrastructure, and corporate purposes. ICRA Limited confirmed no deviations from stated objectives, with remaining funds of ₹3,962.19 crore strategically invested in fixed deposits, government securities, and liquid funds earning 6.02%-8.14% returns.

21Jan 26

Eternal Confident in Managing India's Social Security Code Impact Without Margin Forecast Changes

Eternal has expressed strong confidence in managing the impacts of India's Social Security Code implementation, stating it can handle most effects without requiring changes to long-term margin forecasts across its business operations. The company's position reflects comprehensive preparedness and strategic planning for regulatory compliance while maintaining operational and financial stability.

21Jan 26

Eternal Maintains Target of 3,000 Stores by March 2027, Eyes Further Expansion

Eternal has confirmed it remains on track to achieve 3,000 stores by March 2027 as part of its expansion strategy. The company has also outlined a more ambitious target of 3,500-4,000 stores by the same timeline, contingent on competition moderating in the near term, reflecting its adaptive approach to market conditions.

21Jan 26

Eternal Projects Food Delivery Growth to Gradually Reach 20% Year-over-Year

Eternal has communicated expectations for year-over-year food delivery growth to gradually increase towards 20% over time. The company's projection reflects confidence in the food delivery sector's expansion potential and suggests a measured approach to growth targets. This guidance provides insight into Eternal's strategic outlook for the food delivery market and its anticipated development trajectory.

21Jan 26

Deepinder Goyal Steps Down as Eternal Limited Group CEO, Albinder Dhindsa to Take Over

Eternal Limited founder Deepinder Goyal is stepping down as Group CEO to become Vice Chairman, with Albinder Dhindsa taking over as new Group CEO subject to shareholder approval. Goyal cited his desire to pursue higher-risk ventures outside the public company framework while allowing Eternal to maintain focus on its core business. All of Goyal's unvested ESOPs will revert to the company's ESOP pool to benefit future leaders without additional shareholder dilution.

20Jan 26

Eternal Q3 Earnings Preview: Revenue Expected to Surge 193% YoY Despite Blinkit Losses

Brokerages project Eternal to deliver strong Q3 performance with consolidated revenue expected to surge 193% year-on-year and profit after tax rising 51%, driven primarily by Blinkit's transition to a first-party model. The food delivery segment is expected to show steady 12-18% growth with improving EBITDA margins, while Blinkit remains the key growth driver despite persistent losses of ₹130-140 crore. Analysts will closely monitor competitive dynamics and the path to profitability for newer business segments.

15Jan 26

Eternal Limited Schedules Board Meeting and Earnings Call for Q3FY26 Results on January 21, 2026

Eternal Limited has scheduled its board meeting for January 21, 2026, to approve Q3FY26 unaudited financial results covering the quarter and nine months ended December 31, 2025. The company will also hold an earnings conference call at 5:00 PM IST on the same day, requiring mandatory pre-registration for participants. Transcript and audio recording will be made available on the company website following the call.

15Jan 26

Eternal Limited Schedules Board Meeting and Earnings Call for January 21, 2026 to Discuss Q3FY26 Results

Eternal Limited has scheduled its board meeting for January 21, 2026, to approve Q3FY26 unaudited financial results for the quarter and nine months ended December 31, 2025. The company will also conduct an earnings conference call at 5:00 PM IST on the same day, requiring mandatory pre-registration for participants. The announcement complies with SEBI Regulation 29, with call materials to be made available on the company website post-event.

14Jan 26

Eternal's FII Holding Drops to 36.2% After Seven Consecutive Quarters of Decline

Foreign institutional investor holding in Eternal has declined from 54% in June 2024 to 36.2% by December 2025 over seven consecutive quarters. This reduction follows the company's April 2025 decision to cap foreign ownership at 49.5% to maintain Indian-Owned and Controlled Company status, enabling regulatory flexibility for its quick commerce business Blinkit. Despite the FII decline, Goldman Sachs and Bernstein maintain positive outlooks with target prices of ₹375 and ₹370 respectively, citing strong fundamentals and Blinkit's market leadership position.

13Jan 26

Eternal Clarifies No Change in Blinkit Business Model After Removal of 10-Minute Delivery Branding

Eternal Ltd. clarified that Blinkit's business model remains unchanged despite removing 10-minute delivery branding following Labour Ministry directive on gig worker safety. The company revised its tagline from '10,000+ products delivered in 10 minutes' to '30,000+ products delivered at your doorstep' but emphasized no material impact on operations. Eternal shares gained 3.20% to ₹294.55, outperforming the Nifty 50.

13Jan 26

Eternal Limited Clarifies No Material Impact from Blinkit Delivery Reports Following BSE Query

Eternal Limited issued a clarification to BSE Limited on January 13, 2026, regarding news reports about Blinkit's delivery model changes. The company confirmed no material developments warrant disclosure under SEBI regulations and emphasized no business model changes in Blinkit that could impact the company. Company Secretary Sandhya Sethia signed the response, noting no sharp share price movements following the news publication.

13Jan 26

Eternal Shares Rise 3% as Foreign Room Crosses 25% Threshold, Enabling Full MSCI Weight Eligibility

Eternal Ltd shares rose 3% to ₹294.63 after foreign shareholding crossed the 25% threshold, making it eligible for full MSCI weight. The development could trigger passive inflows of $390 million if implemented in February's review. Despite recent GST demands of ₹27.56 crore, analysts maintain strong buy ratings with a consensus target of ₹379.16, implying 29.5% upside potential.

13Jan 26

Eternal Shares Jump 4% on Increased Hopes for Higher MSCI Weightage

Eternal shares jumped over 4% to ₹297.30 on January 13 following news of increased foreign headroom above 25% in the latest shareholding pattern. The stock currently has half weight in MSCI index but may become eligible for full weightage, potentially resulting in $390 million passive inflows during February MSCI review. Despite recent volatility, the stock gained 8% over the past month and emerged as top gainer on Sensex and Nifty with market cap of ₹2.83 lakh crore.

13Jan 26

Eternal Shares Jump 4% on Hopes of Increased MSCI Weightage Following Foreign Headroom Expansion

Eternal Ltd shares surged 4% on Tuesday, January 13, for the fifth straight session after shareholding patterns showed foreign headroom increased above 25%, making the stock eligible for full MSCI weightage. This potential upgrade could trigger $390 million in passive inflows during the February MSCI review. Despite a 30% decline from record highs due to quick commerce profitability concerns, analysts remain bullish with 29 out of 33 maintaining buy ratings and price targets up to ₹400.

13Jan 26

Eternal Achieves MSCI Eligibility as Foreign Ownership Crosses 25% Threshold

Eternal has crossed the 25% foreign ownership threshold, achieving eligibility for full MSCI weight in the February review. This milestone could potentially attract around $390 million in passive investments, representing a major boost for the company's international market presence and institutional investor accessibility.

12Jan 26

Goldman Sachs Sets ₹375 Target Price for Eternal Despite 1,460x PE Ratio

Goldman Sachs has initiated a 'Buy' rating on Eternal Ltd with a ₹375 target price, representing 32% upside potential despite the company's extreme PE ratio of 1,460x. The brokerage cites strong fundamentals in quick commerce with only 5% market penetration and significant growth runway. Eternal reported robust Q2 FY26 results with sales of ₹13,590 crore and maintains 45% market share in quick commerce through Blinkit, with plans to expand to 2,100 stores and achieve EBITDA breakeven by early FY27.

12Jan 26

Eternal Records ₹110.48 Crore Block Trade on NSE at ₹282.90 Per Share

Eternal recorded a significant block trade on NSE worth ₹110.48 crores involving approximately 39.05 lakh shares at ₹282.90 per share. The transaction indicates substantial institutional activity and represents a notable large-volume trade executed outside regular market mechanisms. Such block trades typically involve institutional investors and suggest strategic portfolio moves or rebalancing activities by large market participants.

09Jan 26

Eternal Shares Rise 3% After Goldman Sachs Reiterates Buy Rating Despite Market Bearishness

Eternal shares rose 3.3% to ₹292.90 on Friday, marking three consecutive sessions of gains after Goldman Sachs reiterated its buy rating while trimming the price target to ₹375 from ₹390. Despite the recent rally, the stock has declined 17% over three months compared to benchmark indices' 3% gain, with Goldman Sachs attributing the sell-off to concerns over competition and quick commerce slowdown expectations.

09Jan 26

Eternal Share Price Rises 3.3% Following Block Deal Activity, Faces GST Demand Notice

Eternal Ltd shares gained up to 3.3% to ₹292.90 following a block deal of 5.3 million shares, reaching the highest level since December 16, 2025. Morgan Stanley expects slower quick commerce momentum with 16% QoQ growth and estimated losses of ₹1,400 crore for the December quarter, though maintains preference for Eternal over competitors. The company faces a ₹3.69 crore GST demand notice for alleged short payment during April 2019-March 2020. Despite challenges, 29 out of 33 analysts maintain 'buy' ratings with consensus price targets implying 29.8% upside potential.

09Jan 26

Eternal Materials Executes ₹153.85 Crore Block Trade on NSE

Eternal Materials executed a major block trade on NSE worth ₹153.85 crores, involving 52.99 lakh shares at ₹290.30 per share. The transaction represents significant institutional trading activity and provides insight into the company's institutional valuation. Block trades typically involve large investors and are executed to minimize market disruption while facilitating substantial volume transactions.

09Jan 26

Eternal Receives GST Demand Orders Worth Over ₹27.56 Crore Including Interest and Penalty

Eternal, parent company of Zomato and Blinkit, received two GST demand orders worth ₹27.56 crore from West Bengal tax authorities for alleged short payment during April 2020-March 2022. The demand includes ₹16.72 crore in GST, ₹9.16 crore interest, and ₹1.67 crore penalty. The company maintains strong legal grounds and will appeal the orders.

09Jan 26

Goldman Sachs Maintains Buy Rating on Eternal, Cuts Target Price to ₹375

Goldman Sachs has maintained its Buy rating on Eternal while reducing the target price from ₹390 to ₹375. The ₹15 downward revision reflects updated valuation expectations, though the sustained Buy recommendation indicates continued confidence in the pharmaceutical company's investment potential.

08Jan 26

Eternal Limited Receives GST Demand Orders Worth ₹16.72 Crores from West Bengal Tax Authorities

Eternal Limited disclosed receiving GST demand orders worth ₹16.72 crores from West Bengal tax authorities on January 8, 2026, covering April 2020-March 2022 period for alleged short payment of output tax. The total liability including interest of ₹9.16 crores and penalties of ₹1.67 crores amounts to ₹27.55 crores. The company maintains confidence in its legal position and plans to file appeals against both orders.