Eternal Ltd Q1 FY26: Zomato Rebranded Itself, But Did It Forget to Rebrand Profitability Too?
1. At a Glance
Zomato—oops, we mean Eternal Ltd—delivered 67% revenue growth and a 90% fall in profits. Yes, you read that right. In its “Eternal” quest for relevance and profitability, this ₹2.6 lakh Cr giant just told investors: “Don’t worry, we’re still burning your cash, just faster now.”
2. Introduction with Hook
If rebranding could fix financials, Baba Ramdev would’ve renamed Patanjali to “Apple India.” But here we are—Zomato’s reincarnation as Eternal Ltd still smells like leftover biryani.
Q1 FY26: ₹7,167 Cr in revenue, but just ₹25 Cr in profit
Market Cap? A spicy ₹2,61,565 Cr
ROE? Let’s say you’d earn more interest by dropping a coin in a temple donation box
This article is a full-course roast of India’s most glamorous loss-making delivery company. Bon appétit.
3. Business Model (WTF Do They Even Do?)
Zomato, now Eternal, operates a three-flavour buffet:
Food Delivery (44%) – The OG app, from samosas to sushi, delivered via guys on two-wheelers with broken taillights
Quick Commerce (Blinkit) – Groceries in 10 minutes (but profits not in 10 years)
Dining, Gold, Hyperpure, and Other Buzzwords – All sound good on PPTs
Verdict: Their business model is built on volume, vibes, and venture capital memory. They’re monetising scale. But at 874x PE? You might as well invest in unicorn NFTs.
