ETERNAL LIMITED Earnings Summary — Q4 FY2026
Eternal Limited Revenue Rockets 196% in Q4 FY2026 as Quick Commerce Scale-Up Continues
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 10 consecutive quarters.
- Revenue of ₹20,211 Cr is 182.0% higher year-on-year.
- Revenue has compounded at 116.3% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹92 Cr is 268.0% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at -24.9% annualised across the period.
- Operating margin stands at 2.9% in Q1 FY2027.
- Operating margin expanded by 134 bps year-on-year.
- Over the last two years operating margin has contracted by 127 bps.
- PBT margin is 1.4%.
- Expense growth of 178.2% remained below revenue growth of 182.0%.
- Operating profit of ₹594 Cr is 416.5% higher year-on-year.
- Operating leverage continues to improve.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 65/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Strong Uptrend | 20,211 | 17,292 | 16,315 | 13,590 | 7,167 | 5,833 | 5,405 | 4,799 | 4,206 | 3,562 |
| Expenses | Strong Uptrend | 19,617 | 16,806 | 15,947 | 13,351 | 7,052 | 5,761 | 5,243 | 4,573 | 4,029 | 3,476 |
| Operating Profit | Strong Uptrend | 594 | 486 | 368 | 239 | 115 | 72 | 162 | 226 | 177 | 86 |
| Operating Margin | Accelerating | 2.9% | 2.8% | 2.3% | 1.8% | 1.6% | 1.2% | 3.0% | 4.7% | 4.2% | 2.4% |
| Other Income | Improving | 375 | 342 | 348 | 352 | 354 | 368 | 252 | 221 | 236 | 235 |
| Interest | Strong Uptrend | 151 | 132 | 107 | 86 | 67 | 56 | 43 | 30 | 25 | 20 |
| Depreciation | Strong Uptrend | 546 | 468 | 439 | 376 | 314 | 287 | 247 | 180 | 149 | 140 |
| Profit Before Tax | Accelerating | 272 | 228 | 170 | 129 | 88 | 97 | 124 | 237 | 239 | 161 |
| Tax | Volatile | 180 | 54 | 68 | 64 | 63 | 58 | 65 | 61 | -14 | -14 |
| Net Profit | Volatile | 92 | 174 | 102 | 65 | 25 | 39 | 59 | 176 | 253 | 175 |
| Net Margin | Volatile | 0.5% | 1.0% | 0.6% | 0.5% | 0.3% | 0.7% | 1.1% | 3.7% | 6.0% | 4.9% |
Key Takeaways
- Quarterly revenue grew nearly 3x year-on-year to ₹17,292 Cr, driven by Blinkit scaling and food delivery growth.
- Operating profit reached a record ₹486 Cr in the latest quarter, marking a significant improvement from ₹72 Cr in the prior year period.
- Net profit saw a sharp 346% YoY increase to ₹174 Cr, though overall annual profitability is heavily supported by Other Income.
- Blinkit acquisition integration is showing signs of maturity, contributing to the 169% TTM sales growth.
- Net debt has increased to ₹4,592 Cr in Mar 2026 from ₹2,045 Cr in Mar 2025 as the company fuels expansion.
- The tax rate dropped significantly to 24% in the latest quarter compared to 60% in the same quarter last year.
- Equity capital remains stable but massive cash reserves are being utilized for the 'District' platform and quick-commerce logistics.
Management Guidance
Management is pivoting toward a multi-vertical 'District' platform approach to capture a larger share of the Indian digital wallet while maintaining focus on ecosystem play and Blinkit integration.
Sentiment Shift
Improving
Consolidated operating margins and net profit have shown sequential and year-over-year improvement, signaling better operating leverage.
Outlook
The outlook remains growth-centric with a focus on quick commerce dominance. While top-line growth is exponential, the high valuation and reliance on other income for net profitability remain key monitoring points.
From the Annual Report (Key Quotes)
“Transparency in shareholder letters is high, with clear disclosures on segment-wise NOV and GOV.”
“Management has demonstrated exceptional vision and adaptability, pivoting toward a multi-vertical platform.”
“The execution of the Blinkit integration is a high-water mark for the team.”
Official Quarterly Documents
This summary is AI-generated from ETERNAL LIMITED's latest quarterly filing and earnings call. For informational purposes only — not investment advice.