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.
Eternal Shares Tumble 4.5% on Foreign Shareholding Cap Announcement
Eternal (formerly Zomato) saw its shares drop 4.5% after announcing a 49.5% cap on foreign shareholding. This decision, aimed at enabling a first-party inventory model for its subsidiary Blinkit, could lead to outflows of ₹6,808-10,793 crore due to potential weight reductions in global indices like MSCI and FTSE. The move is strategically focused on enhancing Blinkit's operational flexibility in the quick-commerce sector, but has raised concerns among investors about short-term market impacts.
26May 25
Eternal Faces $840 Million Potential Outflow as FTSE and MSCI Reduce Weightage
Eternal, formerly Zomato, is experiencing significant reductions in its global index weightings due to a decrease in its Foreign Ownership Limit. FTSE is cutting Eternal's investability weighting from 82.74% to 49.50%, effective May 28. MSCI will also adjust Eternal's weighting, with changes set for May 30, 2025. These modifications are expected to result in passive outflows of approximately $840 million as index-tracking funds adjust their holdings. The changes may put pressure on Eternal's stock price in the short to medium term.
24May 25
Eternal Faces $840 Million Outflow Risk as FTSE and MSCI Slash Weightings
Eternal, formerly Zomato, is expecting a potential $840 million passive outflow due to reduced weightage by FTSE and MSCI index providers. FTSE Russell will decrease Eternal's investability weighting from 82.74% to 49.50% on May 28, while MSCI's adjustments on May 30, 2025, could lead to a $460 million outflow. These changes follow a shareholder-approved reduction in the Foreign Ownership Limit (FOL) for the company.
23May 25
Eternal Ltd: FTSE and MSCI Weight Changes Could Trigger $840 Million Outflows
Eternal Ltd, a major Indian stock, is experiencing significant changes in its global index weightings. FTSE Russell has announced a reduction in Eternal Ltd's investability weight due to a lower foreign ownership limit, effective May 27. MSCI is expected to make similar adjustments after May 30. These changes could potentially lead to outflows of approximately $840 million from Eternal Ltd's stock, impacting its liquidity and price in the short term.
Zomato's Parent Company Eternal Ltd Secures Prime Office Space in Mumbai
Eternal Ltd, Zomato's parent company, has leased 84,157 square feet of office space in Andheri East, Mumbai, for five years starting May 1, 2025. The lease costs ₹1.34 crore monthly, totaling ₹95.00 crore over the lease period. This move suggests expansion beyond food delivery, strengthening presence in Mumbai, long-term commitment, and potential for new ventures.
05May 25
Eternal Ltd. Shows Promising Signs in Food Delivery and Quick Commerce Sector
Eternal Ltd. (formerly Zomato) reported a 9.62% increase in quarterly revenue to ₹6,201.00 crore, despite urban spending slowdown. Net profit reached ₹39.00 crore, down 33.90% from the previous quarter. EBITDA improved by 6.28% to ₹440.00 crore, indicating better cost management. However, operating profit margin decreased to 1.23% from 3.00%. Total expenses rose 9.88% to ₹5,761.00 crore, reflecting ongoing investments in growth. The results suggest progress towards a sustainable business model in the competitive food delivery and quick commerce sector.
Eternal (Formerly Zomato) Reports 78% Drop in Q4 Profit Despite 64% Revenue Surge
Eternal reported a 63.8% year-over-year increase in revenue from operations, reaching 5,833.00 crore in Q4FY25. However, consolidated net profit declined by 77.7% to 39.00 crore, a steeper drop than analysts expected. The results suggest strong performances in Hyperpure and Blinkit segments, contributing to revenue growth, while rapid expansion likely impacted profitability. Investors will focus on the company's strategies to balance growth with profitability in coming quarters.