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Eternal Limited's Q1FY26 earnings call highlighted strong Quick Commerce growth, predominantly from existing locations, with margins improving from -2.4% to -1.8%. Management plans to transition most Quick Commerce inventory to a 1P model within 2-3 quarters, anticipating further margin gains, and aims for 3,000 dark stores. Food Delivery growth appears to have bottomed out, showing better app engagement and expected continued momentum. The company remains focused on driving growth across both businesses, confident in operational efficiencies and long-term potential.