Eternal Ltd.
ETERNALConsumer Discretionary filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
17 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 17 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220530 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220809 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221118 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230217 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230526 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230810 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231110 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240215 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240517 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240808 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241029 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250127 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250508 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250725 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251023 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260127 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260729 | 2026-06-30 | yes |
ETERNAL
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 335.50 |
| 52-week range | 215.68 – 354.35 |
| Return 1M | 1.36% |
| Return 3M | 31.49% |
| Return 1Y | -0.09% |
| Return 3Y | 240.78% |
| Return 5Y | 145.52% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 20,211.00 |
| Other income | 375.00 |
| Total income | 20,586.00 |
| Cost of materials consumed | 47.00 |
| Purchases of stock-in-trade | 12,860.00 |
| Changes in inventories | -876.00 |
| Employee benefit expense | 1,068.00 |
| Finance costs | 151.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | not disclosed | — |
| institutions foreign | 0.29 | -0.04 |
| institutions domestic | 0.39 | 0.03 |
| mutual funds | 0.32 | 0.03 |
| public | 0.95 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 17 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,661.00 | 1,948.00 | 2,056.00 | 2,416.00 | 2,848.00 | 3,288.00 | 3,562.00 | 4,206.00 | 4,799.00 | 5,405.00 | 5,833.00 | 7,167.00 | 13,590.00 | 16,315.00 | 17,292.00 | 20,211.00 |
| Other income | 170.00 | 173.00 | 170.00 | 181.00 | 212.00 | 219.00 | 235.00 | 236.00 | 221.00 | 252.00 | 368.00 | 354.00 | 352.00 | 348.00 | 342.00 | 375.00 |
| Total income | 1,831.00 | 2,122.00 | 2,226.00 | 2,597.00 | 3,060.00 | 3,507.00 | 3,797.00 | 4,442.00 | 5,020.00 | 5,657.00 | 6,201.00 | 7,521.00 | 13,942.00 | 16,663.00 | 17,634.00 | 20,586.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 15.00 | 39.00 | 47.00 |
| Purchases of stock-in-trade | 347.00 | 393.00 | 438.00 | 557.00 | 685.00 | 783.00 | 862.00 | 1,116.00 | 1,369.00 | 1,510.00 | 1,658.00 | 2,557.00 | 8,795.00 | 10,076.00 | 10,687.00 | 12,860.00 |
| Changes in inventories | -35.00 | -3.00 | 2.00 | 5.00 | -11.00 | -1.00 | 2.00 | -17.00 | -35.00 | -10.00 | -26.00 | -273.00 | -1,053.00 | -290.00 | -386.00 | -876.00 |
| Employee benefit expense | 381.00 | 395.00 | 340.00 | 338.00 | 417.00 | 423.00 | 481.00 | 529.00 | 590.00 | 689.00 | 750.00 | 830.00 | 865.00 | 914.00 | 927.00 | 1,068.00 |
| Finance costs | 12.00 | 16.00 | 16.00 | 18.00 | 16.00 | 18.00 | 20.00 | 25.00 | 30.00 | 43.00 | 56.00 | 67.00 | 86.00 | 107.00 | 132.00 | 151.00 |
| Depreciation and amortisation | 107.00 | 155.00 | 134.00 | 130.00 | 128.00 | 128.00 | 140.00 | 149.00 | 180.00 | 247.00 | 287.00 | 314.00 | 376.00 | 439.00 | 468.00 | 546.00 |
| Other expenses | 1,279.00 | 1,529.00 | 1,502.00 | 1,564.00 | 1,804.00 | 2,032.00 | 2,131.00 | 2,401.00 | 2,649.00 | 3,054.00 | 3,379.00 | 3,938.00 | 4,744.00 | 5,232.00 | 5,539.00 | 6,518.00 |
| Total expenses | 2,091.00 | 2,485.00 | 2,431.00 | 2,612.00 | 3,039.00 | 3,383.00 | 3,636.00 | 4,203.00 | 4,783.00 | 5,533.00 | 6,104.00 | 7,433.00 | 13,813.00 | 16,493.00 | 17,406.00 | 20,314.00 |
| Profit before exceptional items and tax | -260.00 | -364.00 | -204.00 | -15.00 | 21.00 | 124.00 | 161.00 | 239.00 | 237.00 | 124.00 | 97.00 | 88.00 | 129.00 | 170.00 | 228.00 | 272.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -260.00 | -364.00 | -204.00 | -15.00 | 21.00 | 124.00 | 161.00 | 239.00 | 237.00 | 124.00 | 97.00 | 88.00 | 129.00 | 170.00 | 228.00 | 272.00 |
| Current tax | 0.00 | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 76.00 | 81.00 | 74.00 | 79.00 | 80.00 | 84.00 | 76.00 | 157.00 |
| Deferred tax | -10.00 | -17.00 | -17.00 | -17.00 | -16.00 | -14.00 | -14.00 | -14.00 | -15.00 | -16.00 | -16.00 | -16.00 | -16.00 | -16.00 | -22.00 | 23.00 |
| Tax expense | -10.00 | -17.00 | -17.00 | -17.00 | -15.00 | -14.00 | -14.00 | -14.00 | 61.00 | 65.00 | 58.00 | 63.00 | 64.00 | 68.00 | 54.00 | 180.00 |
| Profit for the period | -251.00 | -347.00 | -188.00 | 2.00 | 36.00 | 138.00 | 175.00 | 253.00 | 176.00 | 59.00 | 39.00 | 25.00 | 65.00 | 102.00 | 174.00 | 92.00 |
| Profit attributable to owners | -251.00 | -347.00 | -188.00 | 2.00 | 36.00 | 138.00 | 175.00 | 253.00 | 176.00 | 59.00 | 39.00 | 25.00 | 65.00 | 102.00 | 174.00 | 92.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -51.00 | 4.00 | 25.00 | 41.00 | -37.00 | 11.00 | 40.00 | 13.00 | 96.00 | -20.00 | 39.00 | 73.00 | -45.00 | -232.00 | -328.00 | -5.00 |
| Total comprehensive income | -302.00 | -343.00 | -162.00 | 43.00 | -1.00 | 149.00 | 215.00 | 266.00 | 272.00 | 39.00 | 78.00 | 98.00 | 20.00 | -130.00 | -154.00 | 87.00 |
| Earnings per share, basic | -0.31 | -0.42 | -0.23 | 0.00 | 0.04 | 0.16 | 0.20 | 0.29 | 0.20 | 0.07 | 0.04 | 0.03 | 0.07 | 0.11 | 0.19 | 0.10 |
| Earnings per share, diluted | -0.31 | -0.42 | -0.23 | 0.00 | 0.04 | 0.16 | 0.20 | 0.28 | 0.20 | 0.06 | 0.04 | 0.03 | 0.07 | 0.11 | 0.19 | 0.10 |
Annual results, as filed
| Line | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Revenue from operations | 4,192.00 | 7,079.00 | 12,114.00 | 20,243.00 | 54,364.00 |
| Other income | 495.00 | 682.00 | 847.00 | 1,077.00 | 1,396.00 |
| Total income | 4,687.00 | 7,761.00 | 12,961.00 | 21,320.00 | 55,760.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 54.00 |
| Purchases of stock-in-trade | 552.00 | 1,438.00 | 2,887.00 | 5,653.00 | 32,115.00 |
| Changes in inventories | -28.00 | -43.00 | -5.00 | -88.00 | -2,002.00 |
| Employee benefit expense | 1,633.00 | 1,465.00 | 1,659.00 | 2,558.00 | 3,536.00 |
| Finance costs | 12.00 | 49.00 | 72.00 | 154.00 | 392.00 |
| Depreciation and amortisation | 150.00 | 437.00 | 526.00 | 863.00 | 1,597.00 |
| Other expenses | 3,886.00 | 5,430.00 | 7,531.00 | 11,483.00 | 19,453.00 |
| Total expenses | 6,206.00 | 8,775.00 | 12,670.00 | 20,623.00 | 55,145.00 |
| Profit before exceptional items and tax | -1,518.00 | -1,014.00 | 291.00 | 697.00 | 615.00 |
| Exceptional items | 297.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -1,221.00 | -1,014.00 | 291.00 | 697.00 | 615.00 |
| Current tax | 2.00 | 0.00 | 1.00 | 231.00 | 319.00 |
| Deferred tax | 0.00 | -44.00 | -61.00 | -61.00 | -70.00 |
| Tax expense | 2.00 | -44.00 | -60.00 | 170.00 | 249.00 |
| Profit for the period | -1,222.00 | -971.00 | 351.00 | 527.00 | 366.00 |
| Profit attributable to owners | -1,209.00 | -971.00 | 351.00 | 527.00 | 366.00 |
| Profit attributable to non-controlling interests | -14.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 2.00 | -98.00 | 55.00 | 128.00 | -532.00 |
| Total comprehensive income | -1,220.00 | -1,070.00 | 406.00 | 655.00 | -166.00 |
| Earnings per share, basic | -1.67 | -1.20 | 0.41 | 0.60 | 0.40 |
| Earnings per share, diluted | -1.67 | -1.20 | 0.40 | 0.58 | 0.39 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 21,697.00 | 21,599.00 | 22,108.00 | 23,356.00 | 25,205.00 | 35,623.00 | 38,115.00 | 40,736.00 |
| Non-current assets | 13,967.00 | 10,768.00 | 15,487.00 | 17,898.00 | 19,835.00 | 23,922.00 | 24,734.00 | 25,036.00 |
| Current assets | 7,730.00 | 10,831.00 | 6,621.00 | 5,458.00 | 5,370.00 | 11,701.00 | 13,381.00 | 15,700.00 |
| Property, plant and equipment | 208.00 | 208.00 | 218.00 | 287.00 | 513.00 | 965.00 | 1,431.00 | 2,033.00 |
| Capital work-in-progress | 14.00 | 8.00 | 12.00 | 18.00 | 59.00 | 51.00 | 116.00 | 136.00 |
| Goodwill | 4,717.00 | 4,717.00 | 4,717.00 | 4,717.00 | 5,737.00 | 5,737.00 | 5,737.00 | 5,737.00 |
| Other intangible assets | 1,156.00 | 990.00 | 862.00 | 754.00 | 1,066.00 | 912.00 | 752.00 | 611.00 |
| Inventories | 82.00 | 83.00 | 89.00 | 88.00 | 140.00 | 176.00 | 1,502.00 | 2,181.00 |
| Trade receivables | 302.00 | 457.00 | 563.00 | 794.00 | 1,375.00 | 1,946.00 | 1,470.00 | 1,764.00 |
| Cash and cash equivalents | 487.00 | 218.00 | 353.00 | 309.00 | 375.00 | 666.00 | 431.00 | 996.00 |
| Total equity and liabilities | 21,697.00 | 21,599.00 | 22,108.00 | 23,356.00 | 25,205.00 | 35,623.00 | 38,115.00 | 40,736.00 |
| Equity | 19,741.00 | 19,453.00 | 19,736.00 | 20,406.00 | 21,311.00 | 30,310.00 | 30,815.00 | 30,973.00 |
| Equity share capital | 834.00 | 836.00 | 845.00 | 868.00 | 872.00 | 907.00 | 910.00 | 919.00 |
| Other equity | 18,914.00 | 18,623.00 | 18,897.00 | 19,545.00 | 20,446.00 | 29,410.00 | 29,912.00 | 30,061.00 |
| Total liabilities | 1,957.00 | 2,146.00 | 2,372.00 | 2,950.00 | 3,894.00 | 5,313.00 | 7,300.00 | 9,763.00 |
| Non-current liabilities | 773.00 | 704.00 | 687.00 | 867.00 | 1,229.00 | 1,987.00 | 3,089.00 | 4,091.00 |
| Current liabilities | 1,184.00 | 1,441.00 | 1,685.00 | 2,083.00 | 2,665.00 | 3,326.00 | 4,211.00 | 5,672.00 |
| Borrowings, non-current | 26.00 | 6.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 35.00 | 35.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade payables | 764.00 | 680.00 | 788.00 | 886.00 | 1,129.00 | 1,536.00 | 2,163.00 | 3,010.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | -433.00 | -844.00 | 288.00 | 646.00 | 421.00 | 308.00 | 38.00 | 632.00 |
| Net cash from investing activities | 223.00 | 457.00 | -33.00 | -347.00 | -205.00 | -7,993.00 | 69.00 | 536.00 |
| Net cash from financing activities | -42.00 | -127.00 | -120.00 | -207.00 | -150.00 | 8,042.00 | -344.00 | -842.00 |
| Purchase of property, plant and equipment | 41.00 | 103.00 | 67.00 | 215.00 | 361.00 | 936.00 | 788.00 | 1,751.00 |
| Net increase in cash | 95.00 | -174.00 | 135.00 | 91.00 | 66.00 | 357.00 | -235.00 | 330.00 |
| con:CFO.BEFORE_TAX | -405.00 | -813.00 | 325.00 | 751.00 | 477.00 | 426.00 | 249.00 | 998.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 28.00 | 31.00 | 37.00 | 105.00 | 56.00 | 118.00 | 211.00 | 366.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 61.00 | 0.00 | 4,558.00 | 5,772.00 | 0.00 | 648.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 115.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 2.00 | 8.00 | 13.00 | 3.00 | 5.00 | 1.00 | 5.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 61.00 | 0.00 | 0.00 | 2,005.00 | 2,005.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-11-29 | 2024-12-02 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | — |
| Domestic institutions | 13.04 | 15.48 | 15.27 | 15.79 | 17.35 | 20.85 | 19.62 | 20.54 | 23.56 | 26.59 | 0.30 | 0.33 | 0.36 | 0.39 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 21.59 | 0.25 | 0.27 | 0.29 | 0.32 |
| Insurance companies | 1.52 | 2.06 | 2.25 | 2.18 | 2.41 | 2.84 | 2.55 | 2.49 | 2.15 | 2.80 | 0.03 | 0.03 | 0.04 | 0.04 |
| Foreign institutions | 54.72 | 54.88 | 55.11 | 54.11 | 52.53 | 50.23 | 48.02 | 47.30 | 44.36 | 42.34 | 0.39 | 0.36 | 0.33 | 0.29 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 98.18 | 98.34 | 98.42 | 98.55 | 98.73 | 98.82 | 93.93 | 93.93 | 94.02 | 94.09 | 0.94 | 0.94 | 0.95 | 0.95 |
| Non-institutional | 30.43 | 27.99 | 28.04 | 28.65 | 28.85 | 27.74 | 26.29 | 26.10 | 26.09 | 25.16 | 0.25 | 0.25 | 0.27 | 0.27 |
| Shares outstanding | 8604446215 | 8710915663 | 8819783744 | 8826985307 | 8834375172 | 9172815802 | 9650350647 | 9650350647 | 9650350647 | 9650350647 | 9650350647 | 9650350647 | 9650350647 | 9650350647 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Blink Commerce Private Limited | Subsidiary of Zomato Limited | Any other transaction, Investment, Sale of goods or | 41,860,000,000.00 | 52 |
| Zomato Hyperpure Private Limited | Subsidiary of Zomato Limited | Any other transaction, Loan, Sale of goods or servic | 15,280,000,000.00 | 42 |
| Orbgen Technologies Private Limited | Subsidiary of Zomato Limited | Any other transaction, Loan | 3,240,000,000.00 | 14 |
| Zomato Entertainment Private Limited | Subsidiary of Zomato Limited | Any other transaction, Investment, Sale of goods or | 2,260,000,000.00 | 36 |
| Akshant Goyal | Key Management Personnel | Any other transaction | 920,000,000.00 | 6 |
| Zomato Local Services Private Limited | Subsidiary of Zomato Limited | Any other transaction, Sale of goods or services | 900,000,000.00 | 30 |
| Deepinder Goyal | Key Management Personnel | Any other transaction | 800,000,000.00 | 4 |
| Wasteland Entertainment Private Limited | Subsidiary of Zomato Limited | Any other transaction, Loan | 500,000,000.00 | 14 |
| Zomato Payments Private Limited | Subsidiary of Zomato Limited | Any other transaction | 240,000,000.00 | 10 |
| Zomato Payments Private LImited | Subsidiary of Zomato Limited | Any other transaction | 240,000,000.00 | 6 |
| Carthero Technologies Private Limited | Subsidiary of Zomato Limited | Any other transaction | 160,000,000.00 | 6 |
| Kaushik Dutta | Key Management Personnel | Any other transaction | 20,000,000.00 | 4 |
| Aparna Popat Ved | Key Management Personnel | Any other transaction | 20,000,000.00 | 2 |
| Gunjan Tilak Raj Soni | Key Management Personnel | Any other transaction | 20,000,000.00 | 2 |
| Namita Gupta | Key Management Personnel | Any other transaction | 20,000,000.00 | 2 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-29 | Q1FY27 | Read the call | |
| 2026-01-27 | Q3FY26 | Read the call | |
| 2025-10-23 | Q2FY26 | Read the call | |
| 2025-07-25 | Q1FY26 | Read the call | |
| 2025-05-08 | Q4FY25 | Read the call | |
| 2025-01-27 | Q3FY25 | Read the call | |
| 2024-10-29 | Q2FY25 | Read the call | |
| 2024-08-08 | Q1FY25 | Read the call | |
| 2024-05-17 | Q4FY24 | Read the call | |
| 2024-02-15 | Q3FY24 | Read the call | |
| 2023-11-10 | Q2FY24 | Read the call | |
| 2023-08-10 | Q1FY24 | Read the call | |
| 2023-05-26 | Q4FY23 | Read the call | |
| 2023-02-17 | Q3FY23 | Read the call | |
| 2022-11-18 | Q2FY23 | Read the call | |
| 2022-08-09 | Q1FY23 | Read the call | |
| 2022-05-30 | Q4FY22 | EXECUTIVE OFFICER, ZOMATO LIMITED, ZOMATO LIMITED | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY23 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | And last question, Akshant, on this Hyperpure comment that you have in the letter, the value-added food supplies where you're setting up a plant for s… | — | I can see that capex has gone up a bit this time despite fewer stores being added versus last quarter, and your working capital days seem to be expand… | And then we of course fulfill them through the last mile delivery fleet that we have, and we have to look at the business here overall, therefore as a… | — | — | — |
| Capital allocation | Largely everything is on track as far as retention and customer acquisition is concerned. | And in the question 15 answer you mentioned that there is no plan to buy back or give dividend. | Can you provide some insight into your customer acquisition costs in areas where you are expanding but where a competitor is already present? | — | I was hoping to understand what proportion of incremental customer acquisition is organic. | — | — | — |
| Costs | I know the GOV impact is minuscule but is there material cost savings there from just being present in those cities? | — | One of the reasons I ask this is because, while there is a cost associated with expansion as you scale from 1,000 to 2,000 stores, I'm trying to under… | — | I think we don't plan to hire meaningfully from here on and the employee cost in general should grow with inflation from hereon. | And incrementally, the impact on cost could be a bit more negative before the inflation point reaches and starts improving? | — | — |
| Debt and cash | — | Are you like negative working capital per store basis now? | — | Just a couple of points on the cash flow. | — | And with respect to your working capital now, I see that there was a change ofINR 140 crores, negative INR 140 crores in this quarter, whereas in the … | The business has been negative cash flow so far, will this remain the case as you go into a more accelerated rollout while maintaining 0% margins? | The INR 1,000 crore of working capital comment that you made. |
| Demand | But we’ll need to see how it unfolds in the rest of the quarter, whether the demand patterns change meaningfully or not. | So, between the demand side factor and supply side, you have pointed out to supply side. | Additionally, from a demand standpoint, our penetration in the market is still low. | First, if I refer to your second quarter letter, you mentioned that for the Blinkit business, GST cuts bring down basket pricing by 3%, and this shoul… | Third question is just, I wanted to understand the impact of higher inflation on your business, both on wage inflation for gig economy workers as well… | And similarly, if the delivery charges are lower, that stimulates demand. | We take real-time calls on these things such as pricing, etc., depending on the competitive environment and what we are seeing on the demand side. | Do you see a good appetite in demand for quick commerce services right now? |
| Guidance | Before we begin a few quick announcements for the attendees; Anything said on this call which reflects outlook for the future, or which could be const… | Anything said on this call, which reflects outlook for the future, or which could be construed as a forward-looking statement may involve risks and un… | It just happens that we were able to add a lot more new stores than what we envisaged maybe a year ago when we gave the guidance of getting to 1,000 s… | I just wanted to tie up that guidance that you're saying that if competition is not irrational, it's only then you'll open 3,500 to 4,000 stores and o… | And we expect the same trend to continue at least from where we are today and what we see on the ground today. | Before we begin a few quick announcements for the attendees - Anything said on this call which reflects outlook for the future, or which could be cons… | Anything said on this call, which reflects outlook for the future, or which could be construed as a forward-looking statement may involve risks and un… | Of course, like your guidance remains 20%+. |
| Margin | Eventually the absolute profit is a function of growth in the business and margin expansion. | So, you have mentioned 20% of stores operating at 5% contribution margin. | However, as you can see from that chart in question two, the stores which have matured are still generating a healthy amount of contribution margin. | In this quarter, if you look at the numbers, your gross margin didn't really expand, store throughput was down about 6% QoQ, but despite that, your co… | So, I think as we grow faster, it actually, becomes easier for us to reduce our losses, because operating leverages kick in, and the benefits of econo… | So, we've given a breakup of key contributors to margin improvement in the food delivery business. | Our attempt is to keep reinvesting back into the business to grow as fast as possible while maintaining neutrality on the EBITDA side - that's our str… | The impact of competition is visible in the lack of significant margin expansion that we would have otherwise expected. |
| People | I’m not sure how you came up with the math of 32% attrition. | And the second thing is, we start doing it when the existing store is starting to reach a baseline of 50%-60% of its utilization, so that we know that… | Aditya, on your second question, what we have given in the letter, it essentially breaks down our business into the top quartile cohorts of stores and… | — | And on your second point, I think if I'm not wrong, you are referring to the utilization or efficiency of the delivery fleet, where you are referring … | Clearly, on a quarterly basis, it appears that it's come from a lot more cost management in both, in the food business, in the Blinkit business on uti… | — | — |
| Pricing | — | — | And that has many dimensions apart from just pricing. | For example, in the last quarter we didn't see these freebies impacting our market share too much, and hence we sort of sustained our pricing, but as … | On the cost side as well, yes, there is a pressure because of the fuel price increases and we talked about that in our letter also. | And how do you think in general about the pricing plus frequency mix in the sense that, at what kind of band, does it become accretive versus your cur… | And with regards to the priority delivery or better monetization of the Gold program, as in differential pricing, are we any nearer to the implementat… | — |
| Revenue growth | If you look at the data that we had shared on a year-on-year basis, the 21% GOV growth was an outcome of 14% growth year-on-year on orders and about 6… | So even in the previous calls, we've laid out that this is still a very fast-evolving business, also shown by the increase in top line and the use cas… | — | Whatever is the pace of growth of consumer demand in the country, in this business, our job is to make sure that we're able to cater to it and largely… | For FY'22, is there any quantification that you may help us understand as to what is the growth of these let's say top-10 or top-20 cities, whichever … | — | And hence, while the margin improvement will continue, we are really focused on driving more growth at this point. | So, the decline on top line is seasonal. |