Eternal Limited: Comprehensive Stock Analysis Report | Scrolls

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Oct 27
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by KarNivesh | 27 October, 2025

Eternal Limited, earlier known as Zomato Limited, has become one of India’s most successful digital service companies. What began as a simple food-ordering platform has now turned into a large-scale business that touches almost every part of our daily lives. With brands like Zomato, Blinkit, Hyperpure, and District, the company has built a full digital ecosystem that serves millions of consumers every day.

Eternal Limited's revenue has grown at an impressive 78.5% CAGR from FY21 to FY25, achieving profitability from FY23 onwards after initial losses.

The Journey So Far

Founded in 2010, the company started as a restaurant discovery site. In 2025, it rebranded itself as Eternal Limited to reflect its new identity beyond food delivery. Today, Eternal’s businesses cover multiple areas — food delivery, quick commerce, B2B kitchen supplies, and going-out entertainment services.

Its food-delivery arm, Zomato, remains strong, connecting customers with thousands of restaurants. Blinkit, the company’s quick-commerce platform, has become the biggest growth driver, delivering everything from groceries to gadgets within 10–20 minutes. The Hyperpure division supplies restaurants with high-quality ingredients, while District helps people book dining, movie, and event experiences.

Impressive Financial Growth

Eternal’s growth over the past few years has been extraordinary. Its revenue increased by nearly 78% every year from 2021 to 2025. The company, once loss-making, turned profitable in 2023 and reported a profit of ₹1,960 crore in FY25. Though profit margins fell slightly in FY26 due to heavy investment in Blinkit’s expansion, the company remains financially strong with cash reserves of about ₹18,200 crore.

In just one year, Eternal’s quarterly revenue nearly doubled to ₹13,590 crore, driven by Blinkit’s shift from a marketplace to an inventory-led model. This means Blinkit now sells most items directly instead of earning a commission, allowing better control over pricing and quality.

Market Leadership and Shareholding

Eternal’s success has attracted strong investor confidence. Foreign investors hold around 39% of shares, while mutual funds now own nearly 25%, showing increasing faith from domestic institutions. Interestingly, Eternal has no promoter holding, which means it’s a professionally managed company without a single controlling owner.

In the quick-commerce space, Blinkit leads with a market share of around 44–46%, ahead of competitors like Zepto and Swiggy Instamart. This leadership, combined with its financial strength, gives Eternal a major edge in this fast-growing sector.

Stock and Valuation

Eternal’s stock currently trades near ₹326. It reached a 52-week high of ₹368 and has risen almost 68% from its yearly low. Analysts give it a “Buy” rating with target prices between ₹382 and ₹480, suggesting growth potential in the coming years.

While its valuation is high, investors remain optimistic because of the company’s long-term growth story and leadership in India’s digital economy.

Conclusion

Eternal Limited’s journey from Zomato to a diversified tech powerhouse shows how innovation and strong execution can create long-term success. Despite short-term challenges like competition and thin margins, the company’s clear strategy, expanding ecosystem, and strong financial base make it one of the most exciting growth stories in India’s digital space.