Eternal Ltd
ETERNAL NSE
Eternal Ltd
Retail F&ONSE: ETERNAL BSE: 543320 Ecommerce
Key Fundamentals
LargecapEcommerceRetailMarket Cap
3.0L Cr
Volatility
Moderate
P/E Ratio
684.78
EBITDA
₹2,604 Cr
Return on Equity
1.18%
Debt to Equity
0.15
Book Value
₹32.14
EPS
₹0.68
52W High
₹368.45
52W Low
₹212.6
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Eternal Ltd insights
41 extracted metrics + investor summaries across FY18–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company is expected to give good quarter
- Company's working capital requirements have reduced from 36.3 days to 22.9 days
Weaknesses
4- Stock is trading at 9.81 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 0.88% over last 3 years.
- Earnings include an other income of Rs.1,417 Cr.
Growth Rate
Revenue Growth
161.54% ↗
Net Income Growth
-30.55% ↗
Cash Flow Change
105.19% ↗
ROE
-32.18% ↗
ROCE
9.13% ↘
EBITDA Margin (Avg.)
-41.92% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 3d agoAI opinion · based on fundamentals
Risk high
Eternal Ltd (formerly Zomato) commands a market cap of ₹3,02,056 Cr at a PE of 690.7x, reflecting extreme growth expectations. The company has delivered 191% TTM sales growth and 45% TTM profit growth, but carries a 3-year average ROE of just 0.88% and pays no dividend despite reporting profits.
Bull Case 7
- TTM revenue growth of 191% signals massive top-line expansion driven by food delivery, quick commerce (Blinkit), and other verticals
- 3-year compounded sales CAGR of 97% demonstrates sustained hyper-growth trajectory over a multi-year period
- TTM compounded profit growth of 45% shows the company is scaling toward profitability after years of losses
- Working capital days improved from 36.3 days to 22.9 days, indicating better cash conversion and operational efficiency
- Company is expected to deliver a good quarter, suggesting near-term earnings momentum remains intact
- 3-year stock CAGR of 48% reflects strong market confidence in the long-term platform economics
- 5-year compounded profit growth of 17% indicates the company has been gradually transitioning from loss-making to profitability over the medium term
Bear Case 8
- PE ratio of 690.7x is extremely elevated, pricing in years of flawless execution with minimal margin of safety
- 3-year average ROE of just 0.88% means shareholders are earning negligible returns on equity despite reported profits
- Price-to-book ratio of 9.67x implies significant premium over net asset value, leaving limited downside protection
- Zero dividend yield despite reporting profits suggests the company is either reinvesting aggressively or profits are insufficient for meaningful payouts
- Other income of ₹1,417 Cr forms a material portion of earnings, raising questions about the quality and sustainability of core operating profits
- 5-year ROE of -2% indicates the company destroyed shareholder value on an equity-return basis over the medium term
- Last year ROE of 0% shows even the most recent full-year returns to equity holders are essentially nil
- 1-year stock CAGR of only 3% despite massive revenue growth suggests the market may already be fully pricing in the growth story
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 16h ago Positives 2
- FY26 revenue soars 169% YoY Jul 29
Eternal Ltd reported FY26 consolidated revenue of INR 54,364 crore, up 169% YoY, with consolidated PAT of INR 366 crore. 16th AGM scheduled for August 26, 2026.
- QC guidance raised, margins improve Jul 29
Q1FY27 results saw management raise long-term quick commerce guidance to 6% and highlight improved efficiency with predictable competition.
Neutral 3
- Fair disclosure code amended Jul 22
Eternal amended its Code of Practices for Fair Disclosure of UPSI under Regulation 8 of PIT Regulations to ensure uniform dissemination of price-sensitive information.
- Earnings call held Jul 22 Jul 15
Eternal held an earnings call on July 22, 2026 at 5:00 PM IST to discuss unaudited Q1FY27 financial results for the quarter ended June 30, 2026.
- ₹317.54 Cr block trade on NSE Jul 14
Approximately 1.12 crore shares were traded at ₹282.6 per share in a single block deal worth ₹317.54 crore, indicating significant institutional-level activity.
TL;DR: Eternal Ltd is delivering strong top-line growth with FY26 revenue up 169% YoY and turning profitable at INR 366 crore PAT. Management is raising quick commerce guidance and flagging margin improvements, signalling confidence in the business trajectory. No material headwinds are visible in recent news flow. The trend is clearly improving with momentum in both growth and profitability.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,416 | 2,848 | 3,288 | 3,562 | 4,206 | 4,799 | 5,405 | 5,833 | 7,167 | 13,590 | 16,315 | 17,292 | 20,211 |
| Expenses | 2,464 | 2,895 | 3,237 | 3,476 | 4,029 | 4,573 | 5,243 | 5,761 | 7,052 | 13,351 | 15,947 | 16,806 | 19,617 |
| Operating Profit | -48 | -47 | 51 | 86 | 177 | 226 | 162 | 72 | 115 | 239 | 368 | 486 | 594 |
| OPM % | -2% | -1.6% | 1.6% | 2.4% | 4.2% | 4.7% | 3% | 1.2% | 1.6% | 1.8% | 2.3% | 2.8% | 2.9% |
| Other Income | 181 | 212 | 219 | 235 | 236 | 221 | 252 | 368 | 354 | 352 | 348 | 342 | 375 |
| Interest | 18 | 16 | 18 | 20 | 25 | 30 | 43 | 56 | 67 | 86 | 107 | 132 | 151 |
| Depreciation | 130 | 128 | 128 | 140 | 149 | 180 | 247 | 287 | 314 | 376 | 439 | 468 | 546 |
| PBT | -15 | 21 | 124 | 161 | 239 | 237 | 124 | 97 | 88 | 129 | 170 | 228 | 272 |
| Tax % | -113% | -71% | -11% | -9% | -6% | 26% | 52% | 60% | 72% | 50% | 40% | 24% | 66% |
| Net Profit | 2 | 36 | 138 | 175 | 253 | 176 | 59 | 39 | 25 | 65 | 102 | 174 | 92 |
| EPS in Rs | 0 | 0.04 | 0.16 | 0.2 | 0.29 | 0.2 | 0.06 | 0.04 | 0.03 | 0.07 | 0.11 | 0.18 | 0.1 |
Profit & Loss
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 466 | 1,313 | 2,605 | 1,994 | 4,192 | 7,079 | 12,114 | 20,243 | 54,364 | 67,408 |
| Expenses | 558 | 3,556 | 4,909 | 2,461 | 6,043 | 8,290 | 12,071 | 19,606 | 53,156 | 65,721 |
| Operating Profit | -92 | -2,243 | -2,305 | -467 | -1,851 | -1,211 | 43 | 637 | 1,208 | 1,687 |
| OPM % | -20% | -171% | -88% | -23% | -44% | -17% | 0.3% | 3.1% | 2.2% | 2.5% |
| Other Income | 21 | 1,285 | 16 | -200 | 793 | 682 | 846 | 1,077 | 1,396 | 1,417 |
| Interest | 6 | 9 | 13 | 10 | 12 | 49 | 72 | 154 | 392 | 476 |
| Depreciation | 29 | 43 | 84 | 138 | 150 | 437 | 526 | 863 | 1,597 | 1,829 |
| PBT | -107 | -1,010 | -2,386 | -815 | -1,220 | -1,015 | 291 | 697 | 615 | 799 |
| Tax % | 0% | 0% | 0% | 0% | 0% | -4% | -21% | 24% | 40% | — |
| Net Profit | -107 | -1,010 | -2,386 | -816 | -1,222 | -971 | 351 | 527 | 366 | 433 |
| EPS in Rs | -3,070 | -28,574 | -70,097 | -23,124 | -1.54 | -1.14 | 0.4 | 0.55 | 0.38 | 0.46 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.03 | 0.03 | 0.03 | 0 | 764 | 836 | 868 | 907 | 919 |
| Reserves | 1,036 | 2,356 | 457 | 7,644 | 15,741 | 18,624 | 19,545 | 29,410 | 30,061 |
| Borrowings | 186 | 348 | 326 | 527 | 70 | 507 | 749 | 2,045 | 4,592 |
| Other Liabilities | 152 | 709 | 2,117 | 532 | 751 | 1,632 | 2,194 | 3,261 | 5,150 |
| Total Liabilities | 1,374 | 3,413 | 2,900 | 8,704 | 17,327 | 21,599 | 23,356 | 35,623 | 40,722 |
| Fixed Assets | 190 | 389 | 1,591 | 1,539 | 1,404 | 6,344 | 6,448 | 9,532 | 12,675 |
| CWIP | 1 | 1 | 1 | 0 | 1 | 7 | 18 | 51 | 136 |
| Investments | 829 | 2,145 | 324 | 2,205 | 4,718 | 6,765 | 11,645 | 13,192 | 14,833 |
| Other Assets | 354 | 879 | 985 | 4,959 | 11,204 | 8,483 | 5,245 | 12,848 | 13,078 |
| Total Assets | 1,374 | 3,413 | 2,900 | 8,704 | 17,327 | 21,599 | 23,356 | 35,623 | 40,722 |
Cash Flow
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating | — | — | -2,144 | -1,018 | -693 | -844 | 646 | 308 | 632 |
| Investing | — | — | 1,740 | -5,245 | -7,971 | 797 | -348 | -7,993 | 540 |
| Financing | — | — | 359 | 6,402 | 8,750 | -127 | -207 | 8,042 | -842 |
| Net Cash Flow | — | — | -45 | 139 | 86 | -174 | 91 | 357 | 330 |
| Free Cash Flow | — | — | -2,165 | -1,028 | -750 | -945 | 444 | -623 | -1,114 |
| CFO/OP | — | — | 92 | 222 | 36 | 67 | 1,747 | 67 | 83 |
Ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 20 | 20 | 17 | 24 | 14 | 24 | 24 | 35 | 12 |
| Inventory Days | — | — | — | 28 | 28 | 22 | 11 | 12 | 26 |
| Days Payable | — | — | — | 565 | 298 | 178 | 112 | 101 | 36 |
| Cash Conversion Cycle | 20 | 20 | 17 | -513 | -257 | -132 | -77 | -54 | 2 |
| Working Capital Days | -43 | -31 | -20 | 96 | 316 | 200 | 41 | 45 | 23 |
| ROCE % | — | -115% | -135% | -12% | -13% | -6% | 1% | 3% | 2% |
Documents
1
Compliances-Reg.24(A)-Annual Secretarial Compliance
4 May - Eternal filed FY2026 annual secretarial compliance report; no non-compliances or regulatory actions noted. 4 May - Eternal filed FY2026 annual secretarial compliance report; no non-compliances or regulatory actions noted.
2
Financial Results For The Quarter And Financial Year Ended March 31, 2026
28 Apr - Board approved Q4/FY26 results and ₹24.19 crore District platform asset transfer to subsidiary WEPL. 28 Apr - Board approved Q4/FY26 results and ₹24.19 crore District platform asset transfer to subsidiary WEPL.
3
Announcement under Regulation 30 (LODR)-Restructuring
28 Apr - Board approved Q4/FY26 results and ATA with subsidiary for District platform assets at ₹24.19 crore, closing May 1, 2026. 28 Apr - Board approved Q4/FY26 results and ATA with subsidiary for District platform assets at ₹24.19 crore, closing May 1, 2026.
4
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
28 Apr - ICRA report for Eternal’s March 31, 2026 QIP proceeds shows no deviation from intended use. 28 Apr - ICRA report for Eternal’s March 31, 2026 QIP proceeds shows no deviation from intended use.
5
Compliances-Reg.24(A)-Annual Secretarial Compliance
4 May - Eternal filed FY2026 annual secretarial compliance report; no non-compliances or regulatory actions noted. 4 May - Eternal filed FY2026 annual secretarial compliance report; no non-compliances or regulatory actions noted.
Frequently Asked Questions about Eternal Ltd
What does Eternal Ltd do?
Incorporated in 2010, Zomato Limited is one of the leading online Food Service platforms in terms of the value of food sold. Its offerings include food delivery, dining-out services, Loyalty programs, and others.
As of December 31, 2020, Zomato has established a strong footprint across 23 countri...
Where is Eternal Ltd (ETERNAL) listed?
Eternal Ltd is listed on the Indian stock exchanges. It is listed on NSE: ETERNAL and BSE: 543320. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Eternal Ltd belong to?
Eternal Ltd operates in the Retail sector within the Ecommerce industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Eternal Ltd?
Eternal Ltd has a market capitalisation of approximately ₹303793.04 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Eternal Ltd?
The Price-to-Earnings (PE) ratio of Eternal Ltd is 684.78. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Eternal Ltd?
Over the past 52 weeks, Eternal Ltd has traded between a low of ₹212.6 and a high of ₹368.45. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Eternal Ltd?
Eternal Ltd has a Return on Equity (ROE) of 1.18%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Eternal Ltd on Tapetide?
On Tapetide, you can view Eternal Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Incorporated in 2010, Zomato Limited is one of the leading online Food Service platforms in terms of the value of food sold. Its offerings include food delivery, dining-out services, Loyalty programs, and others. As of December 31, 2020, Zomato has established a strong footprint across 23 countries with 131,233 active food delivery restaurants, 161,637 active delivery partners, and an average monthly food order of 10.7 million customers.[1]