🍕 Eternal Ltd (Zomato) – From Loss Machine to a ₹2.5 Lakh Cr Giant?

🪞 At a Glance

Eternal Ltd (a.k.a. Zomato) is India’s OG food tech player that went from ₹-2,386 Cr losses in FY20 to ₹527 Cr profit in FY25. It now runs food delivery, Blinkit (quick commerce), dining out, and Hyperpure (B2B food supply) — while maintaining a cult status with Gen Z. But at 482x P/E, is it a joke or just… eternally expensive?

1. 🎯 Introduction with Hook

If valuation = vibes, then Eternal Ltd is the Dalai Lama of the stock market.

It took 5 years, 4 pivots, 2 acquisitions, and a pandemic for this startup to show a tiny profit — and the market rewarded it with a ₹2.5 lakh Cr market cap.

Because why not?

2. 🏭 Business Model – WTF Do They Even Do?

Revenue shift shows clear pivot toward diversification and ecosystem play.

3. 📈 Financials Overview –