Eternal Share Price Zooms 15% - Looks Like Blinkit Hit Express Delivery Mode

Shares of Eternal, the parent company of food delivery giant Zomato, soared nearly 15% during intraday trading on Tuesday, following the announcement of the company’s stellar Q1FY26 results.

The stock hit an intraday high of Rs 311.60 on the BSE, after opening at Rs 292. At 10:26 AM, the stock was trading at Rs 295.70, up 24.50 pts or +9.03%, taking the company’s market capitalisation to Rs 2.85 lakh crore.

Eternal Share Price Today
On the NSE, the stock opened at Rs 293.00 and touched a high of Rs 311.25. At 10:29 AM, it was trading at Rs 295.30, up 23.60 pts or +8.69%.

Eternal Q1FY26 Highlights: Blinkit Steals the Show
Eternal reported 67% year-on-year (YoY) and 22% quarter-on-quarter (QoQ) growth in adjusted consolidated revenue, which reached Rs 7,563 crore for the June 2025 quarter. The blockbuster performance was driven by the rapid growth of its quick commerce vertical, Blinkit.

For the first time ever, Blinkit’s net order value (NOV) surpassed Zomato’s food delivery vertical, rising 127% YoY and 25% QoQ to ₹9,203 crore. During the quarter, Eternal added 243 new dark stores, taking the total to 1,544. However, the management indicated a shift in focus from aggressive expansion to operational efficiency.

Margins also showed recovery signs. Blinkit’s margin improved from -2.4% of NOV in Q4FY25 to -1.8% in Q1FY26.

Profit Declines, But Revenue Gains Offset Sentiment
Despite the growth, Eternal reported a 90.12% YoY decline in consolidated net profit, falling to Rs 25 crore from ₹253 crore in the same period last year. However, operational revenue jumped 70.4% to ₹7,167 crore, mitigating investor concerns.

Zomato share pricer target 
In a note, Emkay Global Financial Services maintained a ‘BUY’ rating on Eternal, raising its DCF-based target price from ₹290 to ₹330—a 14% upward revision.

The report stated: “Eternal registered strong 1Q results, with Blinkit reporting 140% YoY GOV growth and 50bps QoQ improvement in adjusted EBITDA margin.”

Looking ahead, Emkay expects Eternal to gradually transition Blinkit’s business model from marketplace to inventory ownership, unlocking up to 100bps margin expansion, albeit with a net working capital investment of around 18 days.

“We believe QCom (quick commerce) has a long growth runway and Blinkit is seen capitalizing well on this,” Emkay added.

While EBITDA breakeven for Blinkit may still take time due to its current ‘landgrab’ phase, Zomato’s food delivery business is expected to continue acting as a cash cow, with 20%+ EBITDA CAGR anticipated over the long term.
 

Read More -  Here’s Why Zomato’s Share Price Target Just Got A Big Upgrade

Growth Trajectory: More Stores, More Scale
Management has also indicated plans to scale store count from the current 1,544 to 3,000 stores across cities, reflecting continued bullishness on quick commerce growth.
“Food delivery GOV grew 16% YoY, and the management expects FY26 GOV growth at 15–20%,” the Emkay report noted.

With strong topline momentum, improving margins, and structural tailwinds in quick commerce, Eternal’s long-term outlook appears positive—something clearly reflected in Zomato’s share price rally today.

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