Skip to content
Eternal logo

Eternal

ETERNAL NSE
₹344.50 −4.95 (−1.42%)
P/E
662.50
View as Markdown
MCP
Close 4 Nov 2026 ₹344.50 +38.85 +12.7% 1Y
Start ₹305.65

Key Fundamentals

LargecapRetailConsumer Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
2.48%
Debt to Equity
0.18
EPS (TTM)
₹0.52
Book Value
₹32.45
Market Cap
—
P/E (TTM)
662.50
P/B
10.62
ROE
0.38%
Dividend Yield
0.00%
EBITDA
₹2,604 Cr
52W High
₹350.20
52W Low
₹212.60
Day Range
₹340.00 – ₹348.95
Volume
2,25,52,296

Peer Comparison

Consumer Discretionary › Retail › Ecommerce › E-Retail/ E-Commerce

Eternal peer comparison
Eternal (this company)
₹344.50662.50₹3,34,095 Cr10.620.00%0.38%2.48%₹77,956 Cr₹493 Cr
Meesho
₹224.55—₹1,03,188 Cr24.730.00%−46.20%−40.00%₹13,835 Cr−₹1,201 Cr
Nykaa
₹355.50399.44₹1,01,640 Cr70.820.00%15.30%17.20%₹10,649 Cr₹260 Cr
Swiggy
₹178.89—₹49,465 Cr2.910.00%−29.10%−24.10%₹24,904 Cr−₹3,748 Cr
Urban Company
₹155.01—₹24,479 Cr12.030.00%−12.00%−7.82%₹1,717 Cr−₹333 Cr
CarTrade Tech
₹2,492.9051.54₹12,070 Cr4.610.00%9.65%11.80%₹807 Cr₹254 Cr
Shiprocket
₹131.89—₹9,563 Cr3.980.00%−5.14%−2.68%₹1,631 Cr−₹48 Cr
Median 7 companies₹224.55399.44₹49,465 Cr10.620.00%−5.14%−2.68%₹10,649 Cr−₹48 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

44 Weak

Data confidence 100/100

Category scores

Quality
24
Poor
Returns, margins, earnings quality 22% weight
Valuation
12
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
55
Good
Solvency, leverage, coverage 9% weight
Momentum
87
Strong
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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 9.39 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.1,416 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish3412
OscillatorsBearish342
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
60.83
Neutral
MACD (12,26,9)
5.44
Bullish
SMA (50)
326.61
Bullish
SMA (200)
281.29
Bullish

As of

Analyst Rating

Based on 31 analysts
BUY90%

28 of 31 analysts rate Buy, 0 Hold, 3 Sell.

As of

BUY
28
90%
HOLD
0
0%
SELL
3
10%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
5Y+93.69%
3Y+97.29%
1Y+168.56%
TTM+143.65%

Net profit

Net profit growth by window
5YTurned to profit
3YTurned to profit
1Y−30.55%
TTM+162.23%

Operating cash flow

Operating cash flow growth by window
5YTurned positive
3YTurned positive
1Y+105.19%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+25.64 pp
3Y+19.33 pp
1Y−0.93 pp
TTM+0.98 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2018₹466 Cr
Mar 2019₹1,313 Cr
Mar 2020₹2,605 Cr
Mar 2021₹1,994 Cr
Mar 2022₹4,192 Cr
Mar 2023₹7,079 Cr
Mar 2024₹12,114 Cr
Mar 2025₹20,243 Cr
Mar 2026₹54,364 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2018−₹107 Cr
Mar 2019−₹1,010 Cr
Mar 2020−₹2,386 Cr
Mar 2021−₹816 Cr
Mar 2022−₹1,222 Cr
Mar 2023−₹971 Cr
Mar 2024₹351 Cr
Mar 2025₹527 Cr
Mar 2026₹366 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹874 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 1.9× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 3 Nov 2026
AI opinion · based on fundamentals
Risk high

Eternal Ltd trades at ₹349.45 as of 2026-11-03, near its 52-week high of ₹350.20, with a market cap of ₹3,35,639 Cr. The company shows explosive top-line growth with 3-year compounded sales CAGR of 97%, but profitability remains thin with an ROE of just 1.18% and a PE of 672x, reflecting a wide gap between revenue scale and bottom-line delivery.

Bull Case 8
  • Compounded sales growth of 97% over 3 years and 94% over 5 years demonstrates a powerful and sustained revenue expansion trajectory
  • TTM profit growth of 162% signals a sharp inflection in earnings, suggesting operating leverage is beginning to kick in
  • TTM sales growth of 144% indicates the top-line momentum is actually accelerating beyond the 3-year and 5-year averages
  • Working capital days have improved from 36.3 days to 22.9 days, reflecting better capital efficiency and cash conversion
  • Debt-to-equity ratio stands at a conservative 0.15, giving the company significant balance sheet headroom for future investments
  • Stock price at ₹349.45 is within 0.2% of its 52-week high of ₹350.20, reflecting strong market confidence and positive momentum
  • 3-year stock CAGR of 41% has significantly outpaced the 5-year CAGR of 17%, indicating improving investor sentiment in recent years
  • The company is expected to deliver a good upcoming quarter, which could further validate the earnings inflection story
Bear Case 7
  • 3-year average ROE of just 1% and last year ROE of 0% show the company is barely generating returns on shareholder equity despite massive revenue growth
  • Earnings include other income of ₹1,416 Cr, raising questions about the quality and sustainability of reported profits
  • The company pays zero dividend despite reporting repeated profits, offering no cash return to shareholders with a dividend yield of 0%
  • Price-to-book ratio of 10.77x (also noted at 9.39x book value) is elevated, meaning investors are paying a steep premium over net asset value
  • 5-year ROE averages negative 2%, indicating that over a longer horizon the company has actually destroyed equity value on a returns basis
  • 1-year stock CAGR of -7% shows recent underperformance despite the broader rally to near 52-week highs, suggesting fragile price support
  • ROCE of 2.87% remains well below typical cost of capital, indicating the business is not yet earning adequate returns on total capital employed

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Eternal delivered a strong Q2 FY27 with 78% revenue growth and near-doubling of profit, powered by Blinkit's 79% NOV surge and sixth straight quarter of margin improvement. Key risks include a 61% effective tax rate that dragged PAT well below estimates, rising below-EBITDA costs, and margin headwinds from aggressive store expansion. Near-term, watch whether accelerating store additions can maintain payback economics as the company prioritises growth over margin expansion.

Headwinds 5
  • High effective tax rate ~61% Oct 22

    Carried-forward losses at standalone parent level fully exhausted in FY27, pushing effective tax rate to ~61% and causing PAT of ₹125 crore to miss analyst estimates of ~₹304 crore.

  • EBITDA miss vs estimates Oct 22

    Reported EBITDA of ₹752 crore came in below consensus estimate of ₹776 crore, with Blinkit adjusted EBITDA of ₹180 crore missing one brokerage estimate of ₹260 crore due to escalated growth investments.

  • Rising below-EBITDA costs Oct 21

    Depreciation rose 66% to ₹625 crore, finance costs jumped 80% to ₹155 crore, and ESOP expense climbed to ₹262 crore from ₹174 crore, weighing on net profit despite revenue growth.

Positives 6
  • Q2 profit nearly doubles YoY Oct 23

    Consolidated net profit surged 92% to ₹125 crore, revenue rose 78% to ₹24,138 crore, and adjusted EBITDA jumped 197% to ₹666 crore in Q2 FY27.

  • Blinkit's explosive growth continues Oct 23

    Blinkit NOV grew 79.3% YoY to ₹20,940 crore, posted ₹184 crore adjusted EBITDA profit (sixth consecutive quarter of margin improvement), and added 308 net new stores to reach 2,751.

  • Aggressive store expansion targets Oct 23

    Management raised guidance to 3,500+ stores by March 2027 and ~5,000 by March 2028, up from earlier target of 3,000 by March 2027, funded by cash flows from food delivery and quick commerce.

Neutral 4
  • Dark.AI privacy platform unveiled Oct 21

    Eternal unveiled Dark.AI, a privacy-focused AI assistant using fine-tuned open-weight models on its own infrastructure with end-to-end encryption, targeting global launch by end of 2026.

  • Eternal SBI co-branded card launched Oct 16

    First 5,000 cards opened for applications on Oct 22 after 5 lakh early-access requests, offering up to ₹42,000 annual savings with a ₹499 joining fee across Zomato, Blinkit, and District.

  • ₹168 crore block deal executed Oct 22

    Approximately ₹77.28 crore worth of shares traded on NSE at ₹315 and ₹91.20 crore on BSE at ₹313.95, totaling ~₹168.48 crore in large trades.

Quarterly Results

₹ Cr
ETERNAL quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
2,848
3,288
3,562
4,206
4,799
5,405
5,833
7,167
13,590
16,315
17,292
20,211
24,138
Expenses
2,895
3,237
3,476
4,029
4,573
5,243
5,761
7,052
13,351
15,947
16,806
19,617
23,386
Operating Profit
−47
51
86
177
226
162
72
115
239
368
486
594
752
OPM %
−1.6%
1.6%
2.4%
4.2%
4.7%
3%
1.2%
1.6%
1.8%
2.3%
2.8%
2.9%
3.1%
Other Income
212
219
235
236
221
252
368
354
352
348
342
375
351
Interest
16
18
20
25
30
43
56
67
86
107
132
151
155
Depreciation
128
128
140
149
180
247
287
314
376
439
468
546
625
PBT
21
124
161
239
237
124
97
88
129
170
228
272
323
Tax %
−71%
−11%
−9%
−6%
26%
52%
60%
72%
50%
40%
24%
66%
61%
Net Profit
36
138
175
253
176
59
39
25
65
102
174
92
125
EPS (₹)
0.04
0.16
0.2
0.29
0.2
0.06
0.04
0.03
0.07
0.11
0.18
0.1
0.13

Profit & Loss

₹ Cr
ETERNAL profit and loss, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
466
1,313
2,605
1,994
4,192
7,079
12,114
20,243
54,364
77,956
Expenses
558
3,556
4,909
2,461
6,043
8,290
12,071
19,606
53,156
75,756
Operating Profit
−92
−2,243
−2,305
−467
−1,851
−1,211
43
637
1,208
2,200
OPM %
−20%
−171%
−88%
−23%
−44%
−17%
0.3%
3.1%
2.2%
2.8%
Other Income
21
1,285
16
−200
793
682
846
1,077
1,396
1,416
Interest
6
9
13
10
12
49
72
154
392
545
Depreciation
29
43
84
138
150
437
526
863
1,597
2,078
PBT
−107
−1,010
−2,386
−815
−1,220
−1,015
291
697
615
993
Tax %
0%
0%
0%
0%
0%
−4%
−21%
24%
40%
—
Net Profit
−107
−1,010
−2,386
−816
−1,222
−971
351
527
366
493
EPS (₹)
−0.46
−4.26
−10.46
−3.45
−1.54
−1.14
0.4
0.55
0.38
0.52
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
ETERNAL balance sheet, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
0.03
0.03
0.03
0
764
836
868
907
919
921
Reserves
1,036
2,356
457
7,644
15,741
18,624
19,545
29,410
30,061
30,354
Borrowings
186
348
326
527
70
507
749
2,045
4,592
5,757
Other Liabilities
152
709
2,117
532
751
1,632
2,194
3,261
5,150
8,077
Total Liabilities
1,374
3,413
2,900
8,704
17,327
21,599
23,356
35,623
40,722
45,109
Fixed Assets
190
389
1,591
1,539
1,404
6,344
6,448
9,532
12,675
14,609
CWIP
1
1
1
0
1
7
18
51
136
296
Investments
829
2,145
324
2,205
4,718
6,765
11,645
13,192
14,833
14,662
Other Assets
354
879
985
4,959
11,204
8,483
5,245
12,848
13,078
15,542
Total Assets
1,374
3,413
2,900
8,704
17,327
21,599
23,356
35,623
40,722
45,109

Cash Flow

₹ Cr
ETERNAL cash flow, annual, ₹ crore
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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/EBITDA
—
—
92
222
36
67
1,747
67
83

Ratios

ETERNAL financial ratios, annual
Particulars Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Eternal insights

55 extracted metrics across FY18–FY27.

Shareholding Pattern

As of Sep 2026

  • DIIs 36.22%
  • FIIs 33.01%
  • Public 26.24%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Eternal

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.
Where is Eternal Ltd (ETERNAL) listed?
Eternal Ltd trades as ETERNAL on the NSE and under code 543320 on the BSE.
Which sector does Eternal Ltd belong to?
Eternal Ltd is classified under the Retail sector, in the Ecommerce industry.
What is the PE ratio of Eternal Ltd?
Eternal Ltd trades at a PE ratio of 662.50 as of 4 Nov 2026, on earnings per share of ₹0.52, against a book value of ₹32.45 per share.
What is the 52-week high and low of Eternal Ltd?
Over the last 52 weeks Eternal Ltd has traded between ₹212.6 and ₹350.2 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Eternal Ltd?
Eternal Ltd reported a return on equity of 0.38%. Its debt-to-equity ratio is 0.18.

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.

Website zomato.com
Employees 16,375
Listed 23 Jul 2021
Face Value ₹1

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/ETERNAL.md for Eternal Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Retail stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month