ETERNAL LIMITED has informed the Exchange regarding shareholders letter.
ETERNAL · price
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Eternal reported Q4FY25 consolidated adjusted revenue of INR 6,188 crore, up 60% year-on-year, but adjusted EBITDA fell 15% YoY to INR 165 crore as the company accelerated Blinkit store expansion. Net order value (NOV), a new metric introduced this quarter, for B2C businesses grew 53% YoY to INR 17,440 crore, with Blinkit NOV up 121% YoY to INR 7,362 crore and food delivery NOV up just 14% YoY to INR 8,210 crore, well below the 20% guidance. Blinkit added 294 net new stores in the quarter, taking the total to 1,301, but its adjusted EBITDA loss widened to INR 178 crore from INR 103 crore the prior quarter. Management expects competition in quick commerce to intensify further, prioritised market share over near-term profitability, and maintained its long-term adjusted EBITDA margin guidance of 5-6% of NOV.
For shareholders, the results show a classic growth-versus-profit trade-off: strong top-line momentum (60% revenue growth, 53% NOV growth) is being offset by deeper Blinkit losses and food delivery growth that has slipped meaningfully below 20% guidance. Near-term profitability may remain under pressure as expansion and competition intensify, which could weigh on the stock in the short term, though management is betting that market share gains now will drive stronger returns later.