Shares of Eternal Ltd. slid 1.5% to ₹308.65 in the closing auction after announcing September quarter results, a dip that follows a 10% YTD gain.
The company’s Food Delivery segment posted a 21.5% YoY rise in Net Order Value, outpacing analysts who expected 18‑20%. Blinkit, its quick‑commerce arm, grew 79% YoY, just shy of the 80% forecast, while the Going‑Out business added 58%.
Consensus estimates now place Eternal’s stock at ₹420, implying a 35% upside from current levels. Motilal Oswal trimmed its FY27 EPS estimate after a higher tax rate hit the second quarter, yet it still projects sustained 20% YoY growth in food delivery and margin expansion through store maturity.
Management aims to hit 3,500 Blinkit stores by March 2027, with a 5% adjusted EBITDA margin already achieved in mature cities. The company also plans to cross ₹3.5 bn in net order value by year‑end, which would lift the 60%+ YoY growth target for the quick‑commerce segment.
Across the sector, analysts point to a 21% upside from consensus price targets, while CLSA’s high‑conviction rating pushes the target to ₹506. The market will watch for the June earnings call to see if the 20% growth projection holds and if the company can sustain margin pressure amid rapid store roll‑out.