Eternal Limited has filed with exchange transcript of earnings conference call conducted on July 21, 2025
ETERNAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Eternal Limited (formerly Zomato) held its Q1FY26 earnings call led by CFO Akshant Goyal, Blinkit CEO Albinder Singh Dhindsa, and Head of Corporate Development Kunal Swarup. Quick commerce (Blinkit) continued strong growth with Adjusted EBITDA margin improving from -2.4% to -1.8%, and the company plans to shift most inventory to a 1P (owned inventory) model within 2-3 quarters, expecting a ~100bps margin benefit in the same period. Blinkit's GOV is now north of $5 billion with MTUs above 15 million, and the company has visibility to expand to 3,000 dark stores over time. Food delivery growth slowed to 13% YoY in NOV (from 27% a year ago), but management said the growth has bottomed out based on better app opens and customer return rates. The going-out (Bistro/District) segment will see range-bound losses in the near term. Management acknowledged quick commerce is partly cannibalizing food delivery but maintained long-term potential for 20% growth in that segment.
The call signals improving unit economics in Blinkit and a credible path to profitability via the 1P shift, which is a positive for the stock. However, food delivery deceleration and management's refusal to give quarterly guidance or break-even timelines may limit near-term upside. Accounting/revenue reporting changes are expected from next quarter as Blinkit transitions to inventory-led sales.