ETERNAL LIMITED — Important, 21-07-2025: Updates

Eternal (formerly Zomato) Q1FY26: B2C NOV soared 55% YoY to INR 20,183 Cr, with Quick Commerce now larger than food delivery. Consolidated Adjusted Revenue grew 67% YoY to INR 7,563 Cr. Adjusted EBITDA dipped 42% YoY to INR 172 Cr due to investments in quick commerce and going-out. Food delivery margins stabilized at ~5%. Blinkit's NOV jumped 127% YoY, improving margins to -1.8% despite store expansion. Going-out is now an INR 8,000 Cr annualized business. Quick commerce shifting to inventory ownership for better margins (+1%) and 40%+ ROCE. INR 150 Cr allocated for new ventures like Bistro and Greening India. Cash at INR 18,857 Cr.