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Analysis · Commerce & Consumer Brands

Eternal's food delivery business expected to grow with higher net order value in June quarter

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Eternal logo
Date
Company
Eternal
What it does
food delivery and quick commerce services
Kind
Analysis
Sector
Commerce & Consumer Brands

What they do

Eternal provides food delivery and quick commerce services through brands like Zomato and Blinkit

What happened

Kotak Institutional Equities expects Eternal's net order value (NOV) to grow 18% year-on-year to ₹10,581 crore in the June quarter

Why it matters

Eternal's food delivery margins may face slight pressure due to higher delivery costs and fuel prices, but EBITDA margin is expected to remain at 5.2%

The details

  • Kotak Institutional Equities expects Eternal's food delivery business to remain healthy in the June quarter.
  • Eternal's net order value (NOV) is projected to grow 18% year-on-year to ₹10,581 crore in the June quarter.
  • Eternal's food delivery margins may face slight pressure due to higher delivery payouts, rising fuel prices, and lower availability of delivery partners during the early monsoon.
  • Despite these challenges, Eternal's food delivery business is expected to report an EBITDA margin of 5.2%.
  • Kotak maintains a 'Buy' rating on Eternal, with a fair value of ₹385 per share.

The bigger picture

  • Eternal is a major player in the Indian food delivery and quick commerce market, with brands like Zomato and Blinkit.
  • The June quarter is a critical period for food delivery companies, as they face seasonal challenges like higher fuel costs and delivery partner availability.
  • Kotak's analysis highlights the competitive landscape, with Blinkit outperforming Instamart in growth and profitability.

About the business

  • Eternal operates multiple brands, including Zomato (food delivery), Blinkit (grocery delivery), and District (retail and marketing).
  • The company aims to redefine convenience through fast commerce and food delivery services.
  • Eternal is committed to sustainability, with a goal of 100% EV-based food deliveries by 2030 and net-zero emissions by 2033.
  • The company's vision is to build enduring institutions that impact society through innovation and adaptability.
  • Eternal's performance is driven by transparency, accountability, and delivering value to stakeholders.

The deal

Type
results

Founders

  • Deepinder Goyal, Founder

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