Company Overview
Eternal Limited (formerly Zomato Limited) reported exceptional financial performance for FY26 with consolidated revenue surging 169% YoY to ₹54,364 crore, driven primarily by explosive 626% growth in quick commerce revenue to ₹37,779 crore. The company achieved profitability with net profit of ₹366 crore and Adjusted EBITDA of ₹1,189 crore, reflecting margin expansion in food delivery and reduced losses in quick commerce and B2B segments.
Financial Performance Highlights
Consolidated Results: Revenue from operations reached ₹54,364 crore (FY25: ₹20,243 crore) with adjusted revenue at ₹55,903 crore. Profit before tax stood at ₹615 crore (FY25: ₹697 crore) and net profit at ₹366 crore (FY25: ₹527 crore). Standalone performance was even stronger with net profit of ₹2,655 crore on revenue of ₹10,899 crore.
Segment Performance: Food delivery grew 24% to ₹11,698 crore, quick commerce exploded 626% to ₹37,779 crore, while B2B supplies declined 13% to ₹5,366 crore. Operational metrics showed strong growth with 917 million quick commerce orders (116% YoY growth) and 979 million food delivery orders (15% YoY growth).
Management and Governance Changes
Deepinder Goyal resigned as Managing Director & CEO effective February 1, 2026, and was appointed as Vice Chairman & Non-Executive Director from March 13, 2026. Albinder Singh Dhindsa was appointed as the new CEO effective February 1, 2026. The board approved re-appointments of independent directors including Kaushik Dutta, Namita Gupta, Sutapa Banerjee, and Aparna Popat Ved for second terms.
Regulatory and Legal Matters
The company faces significant GST demands totaling ₹978 crore related to delivery charges collected from end users on behalf of delivery partners. Eternal is contesting these orders with external legal support while complying with new regulations effective September 2025. Other legal proceedings include a writ petition before the Supreme Court and a Competition Commission of India investigation.
Subsidiary Structure and Investments
The company maintains 16 direct subsidiaries and 4 step-down subsidiaries, including Blink Commerce Private Limited (₹9,597 crore investment), Zomato Hyperpure Private Limited (₹2,414 crore), Orbgen Technologies Private Limited (₹1,441 crore), and Wasteland Entertainment Private Limited (₹877 crore). Significant intercompany loans and investments support subsidiary operations.
Corporate Calendar and AGM Details
The 16th Annual General Meeting is scheduled for August 26, 2026, with e-voting available from August 22-25, 2026. The record date for the AGM was July 22, 2026. No dividend was recommended for FY26, and no amount was proposed to be transferred to reserves.
ESG and Operational Initiatives
The company demonstrated strong ESG performance with 100,000+ EV-based delivery partners, 228 million+ orders delivered via EVs, and maintained zero Scope 1 and 2 net emissions for the third consecutive year. Social initiatives included providing income opportunities to 30 lakh+ gig workers and unlocking ₹200 crore government scheme benefits for delivery partners.
Capital Structure and Shareholding
The authorized share capital remained at ₹1,448.63 crore with issued capital of ₹965.04 crore. Shareholding pattern shows 68.60% institutional ownership, 26.67% non-institutional, and 4.73% held by the ESOP Trust. Major shareholders include Info Edge (India) Limited (12.38%) and Foodie Bay Employees ESOP Trust (4.73%).
Auditor Reports and Compliance
Deloitte Haskins & Sells issued unmodified audit opinions for both standalone and consolidated financial statements, with emphasis on GST demands regarding delivery charges. The company complied with all applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations, with no material orders impacting going concern status.