ETERNALEternal LimitedNSE:ETERNALTechnicalAnalystSucritEternal Ltd. (CMP ₹308.00, NSE: ETERNAL) The SmartWay Research Desk | 29 July 2026 A New Delhi‑based consumer tech company, Eternal Ltd. (formerly Zomato Ltd.) operates across food delivery, quick commerce (Blinkit), dining‑out, Hyperpure (restaurant supplies), and new verticals like Bistro and Nugget by Zomato. Promoter Holding (Mar 2026): Founders & Institutional Investors — ~20% stake; majority held by FIIs and DIIs. Q1 FY27 Snapshot (June 2026) Revenue Growth: ₹20,211 Cr vs ₹7,167 Cr YoY (+182%). Net Profit: ₹92 Cr vs ₹25 Cr YoY (+268%). Sequentially down 47%. Food Delivery (Zomato): Net Order Value (NOV) ₹10,769 Cr (+20% YoY). Adjusted EBITDA margin 5.6%. Quick Commerce (Blinkit): NOV ₹17,132 Cr (+86% YoY). Heavy capex investments (~₹3,000 Cr over 4 years). Adjusted EBITDA: ₹555 Cr (+223% YoY). EPS: ₹0.10 vs ₹0.03 last year. Institutional Interest & Ownership Trends Promoter Holding: ~20% FII Holding: ~35% DII Holding: ~30% Retail & Others: ~15% Strategic Moves & Innovations Quick Commerce Expansion: Blinkit now operates ~19 million sq ft warehousing across 300 cities. Bistro Launch: 10‑minute food/snack delivery with custom kitchen automation. Business Transfer: Nugget by Zomato moved to Carthero Technologies for ₹350 Cr. Hyperpure Expansion: Supplies to restaurants, now contributing significant revenue. Cash Flow & Balance Sheet Strength Market cap ~₹26,000 Cr. Debt‑to‑equity ratio ~0.35 (moderate leverage). EPS (TTM) ₹0.10; P/E ~3,080 (reflects early‑stage profitability). Heavy reinvestment in quick commerce and supply chain. Risk Factors High valuations vs earnings (P/E ~3,080). Dependence on food delivery and quick commerce demand cycles. Exposure to competition from Swiggy, Rapido, and new entrants. Quick commerce is capital‑intensive, not asset‑light. Investor Takeaway Eternal Ltd. has delivered explosive revenue growth (+182% YoY), driven by Blinkit and food delivery. Profitability is improving but remains thin, with EPS at ₹0.10. At CMP ₹308.00, valuations are extremely stretched, reflecting growth expectations in quick commerce and food delivery. Eternal remains a high‑risk, high‑growth consumer tech play.