| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 17.3K | 6.0% | 196.4% |
| Total Income | 17.6K | 5.8% | 184.4% |
| Expenditure | 17.4K | 5.5% | 185.2% |
| PBT | 228.00 | 34.1% | 135.1% |
| Net Profit | 174.00 | 70.6% | 346.1% |
| OPM | 2.81% | 0.55pp | 1.58pp |
| NPM | 0.99% | 0.38pp | 0.36pp |
| EPS | 0.19 | 72.7% | 375.0% |
Eternal Q4FY26: Strong Adjusted Revenue Growth; Targets $20B NOV by FY28
28 Apr 2026 · 28 Apr, 3:18 pm
Summary
Eternal Limited (formerly Zomato Limited) announced a sharp increase in year-over-year Adjusted Revenue growth for Q4FY26, primarily driven by a strategic shift to a 1P model in quick commerce implemented since Q1FY26. For the full fiscal year 2026, the company successfully processed over $10 billion in Net Order Value (NOV) through its combined B2C businesses. The founder highlighted the achievement of Adjusted EBITDA profitability in FY24 after 16 years, with a robust outlook to double annual NOV to $20 billion within two years and target $1 billion in Adjusted EBITDA by FY29, attributing this accelerated growth to strong foundational systems and compounding operational muscle.
Key Highlights
- 1
Eternal Limited recorded a sharp increase in year-over-year Adjusted Revenue growth for Q4FY26, primarily attributed to a strategic shift to a 1P model in quick commerce from Q1FY26.
- 2
For the full fiscal year 2026, 109 million Indians completed transactions totaling over $10 billion across the company's Blinkit, District, and Zomato platforms.
- 3
The company reached its first annual Net Order Value (NOV) of $10 billion in FY26, 18 years after its inception.
- 4
Management anticipates a significant acceleration, projecting to double the annual NOV to $20 billion in less than two years.
- 5
Adjusted EBITDA profitability was achieved in FY24, 16 years into the company's journey.
- 6
The company aims to reach $1 billion in Adjusted EBITDA by FY29, highlighting established foundations and compounding systems as key drivers for this goal.
Management Comments
Founder
Last year (FY26), 109 million Indians completed transactions worth over $10 billion through Blinkit, District, and Zomato. The company I accidentally started now touches how India eats, shops, and goes out. But it took us 18 years to get to $10 billion (per year).
Founder
Our first annual $10 billion in NOV took 18 years. This doubling to $20 billion annual NOV will take less than two years from here. Similarly, it took 16 years to reach Adjusted EBITDA profitability in FY24. From there, we expect to reach $1 billion of Adjusted EBITDA, hopefully by FY29. The acceleration is real because the foundation is already laid. The systems, the supply chains, the customer trust, the operational muscle. All of it compounds.
Informational and educational content only. Not investment advice.