Results · Commerce & Consumer Brands

Blinkit Q4 adjusted EBITDA jumps to ₹37 crore

By Startup Enthusiast · 28 April 2026

What they do

Blinkit reported Q4 FY26 adjusted EBITDA of ₹37 crore, up from ₹4 crore in the prior quarter and a loss of ₹178 crore a year ago

Net order value rose 95.4% YoY to ₹14,386 crore, with 216 new stores added in the quarter for a total of 2,243

The company warns margin expansion may be non-linear due to competition and investments in store density and geographic expansion

Blinkit reported an adjusted EBITDA of ₹37 crore for Q4 FY26, up from ₹4 crore in the previous quarter.
This is a 9x jump quarter-on-quarter and a sharp recovery from a ₹178 crore loss a year ago.
The company's net order value (NOV) reached ₹14,386 crore, up 95.4% year-on-year from ₹7,362 crore.
NOV grew 8.2% quarter-on-quarter from ₹13,300 crore.
Blinkit added 216 net new stores in Q4 FY26, bringing the total to 2,243 stores.
Adjusted EBITDA margin stood at 0.3% of NOV, with mature markets like Delhi NCR near the 5-6% steady-state guidance.
The company warned that margin expansion may be non-linear due to competition and investments in store density, assortment, and geographic expansion.
Blinkit noted aggressive discounting by competitors is driving poor-quality growth centered on low-margin SKUs (stock keeping units, or distinct products sold).

Q4 is typically the weakest quarter for quick commerce due to fewer days and a post-festive drop in high-value orders.
Competition is expanding the quick commerce category, with multiple players investing in infrastructure, customer acquisition, and awareness.
Blinkit expects a stronger rebound in Q1 FY27 based on early demand signals.
The results come as parent Eternal reported a 186% year-on-year revenue jump to ₹17,680 crore.

Blinkit is a quick commerce platform that delivers groceries and daily essentials in minutes.
It operates a network of 2,243 dark stores (small warehouses for fast delivery) across India.
The company generates revenue through product sales, delivery fees, and advertising on its platform.
It competes in the Indian quick commerce market, focusing on speed and convenience.
Blinkit's mature markets like Delhi NCR are approaching steady-state profitability margins of 5-6%.

Blinkit expects a stronger rebound in Q1 FY27 based on early demand signals.
The company will continue investing in store density, assortment, and geographic expansion.
Margin expansion may be non-linear due to competition and investments.