Zomato Ltd. (IN:ETERNAL)
:ETERNAL
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Zomato Ltd.
(ETERNAL)
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Rating:61Neutral
Price Target:
₹260.00
▼(-8.84% Downside)
Action:Reiterated
Date:05/01/26
The score is driven primarily by strong financial trajectory (rapid revenue growth, positive net income, and improved operating cash flow) but is held back by still-negative EBIT, uneven free cash flow and higher FY2026 debt. Technicals are neutral overall, while the extremely high P/E meaningfully pressures the valuation component.
Positive Factors
Exceptional Revenue Growth
Sustained, large-scale top-line expansion demonstrates durable market traction and platform engagement. Rapid revenue scale supports network effects, stronger ad monetization and bargaining with restaurant/merchant partners, giving structural tailwinds to margin improvement as fixed costs are leveraged.
Negative Factors
Negative Operating Profit (EBIT)
Persistent negative EBIT indicates core operations haven't generated sustained operating profitability despite revenue growth. This suggests ongoing subsidization of delivery, high SG&A or fulfillment costs, which can limit long-term margin sustainability until core unit economics improve.
Read all positive and negative factors
Positive Factors
Negative Factors
Exceptional Revenue Growth
Sustained, large-scale top-line expansion demonstrates durable market traction and platform engagement. Rapid revenue scale supports network effects, stronger ad monetization and bargaining with restaurant/merchant partners, giving structural tailwinds to margin improvement as fixed costs are leveraged.
Read all positive factors
Zomato Ltd. (ETERNAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.33T
Dividend YieldN/A
Average Volume (3M)959.24K
Price to Earnings (P/E)310.9
Beta (1Y)1.09
Revenue Growth168.56%
EPS Growth-33.26%
CountryIN
Employees3,988
SectorConsumer Cyclical
Sector Strength84
IndustryInternet Content & Information
Share Statistics
EPS (TTM)0.19
Shares Outstanding9,650,351,000
10 Day Avg. Volume1,536,510
30 Day Avg. Volume959,237
Financial Highlights & Ratios
PEG Ratio-15.68
Price to Book (P/B)6.76
Price to Sales (P/S)3.85
P/FCF Ratio-187.24
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹348.25Price Target Upside22.11% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)2.12
Revenue Forecast (FY)₹963.04B
Zomato Ltd. Business Overview & Revenue Model
Company Description
Eternal Limited is an online restaurant guide and food ordering platform. The Company offers platform connects customers, restaurants, and delivery partners to search and discover restaurants, read and write customer generated reviews, order food ...
How the Company Makes Money
Zomato makes money primarily by monetizing transactions and demand generation across its platforms. Key revenue streams include: (1) Food delivery: It earns commissions/fees from restaurant partners on orders placed via its platform, and may also ...
Zomato Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
76
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 248.28B | 543.64B | 202.43B | 121.14B | 70.35B | 41.20B |
| Gross Profit | 105.00B | 99.99B | 146.78B | 92.32B | 56.40B | 35.39B |
| EBITDA | 14.45B | 12.08B | 17.14B | 8.89B | -5.32B | -10.60B |
| Net Income | 1.63B | 3.66B | 5.27B | 3.51B | -9.71B | -12.09B |
Balance Sheet | ||||||
| Total Assets | 381.15B | 407.36B | 356.23B | 233.56B | 215.99B | 173.27B |
| Cash, Cash Equivalents and Short-Term Investments | 46.43B | 66.14B | 86.55B | 34.05B | 94.08B | 65.97B |
| Total Debt | 61.18B | 45.92B | 20.45B | 7.49B | 5.07B | 703.00M |
| Total Liabilities | 73.00B | 97.63B | 53.13B | 29.50B | 21.46B | 8.28B |
| Stockholders Equity | 308.22B | 309.80B | 303.17B | 204.13B | 194.60B | 165.06B |
Cash Flow | ||||||
| Free Cash Flow | -11.05B | -11.19B | -6.28B | 4.31B | -9.47B | -7.52B |
| Operating Cash Flow | 2.58B | 6.32B | 3.08B | 6.46B | -8.44B | -6.93B |
| Investing Cash Flow | -80.56B | 5.36B | -79.93B | -3.47B | -331.00M | -79.38B |
| Financing Cash Flow | 78.52B | -8.42B | 80.42B | -2.07B | -1.18B | 87.50B |
Zomato Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹105.06B | 20.31 | ― | 0.31% | 47.64% | 41.91% | |
67 Neutral | ₹102.09B | 13.92 | ― | 0.79% | 23.00% | 15.55% | |
66 Neutral | ₹341.19B | 204.26 | ― | ― | 17.65% | -6.32% | |
65 Neutral | ₹425.60B | 34.72 | ― | 1.32% | 10.08% | 14.86% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ₹2.33T | 310.94 | ― | ― | 168.56% | -33.26% | |
60 Neutral | ₹67.80B | 16.11 | ― | 0.58% | 0.87% | 9.05% |
* Consumer Cyclical Sector Average
IN:ETERNAL
Zomato Ltd.
247.05
17.05
7.41%
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Zomato Ltd. Corporate Events
Eternal Limited Reports No Deviation in Use of QIP Proceeds
Apr 28, 2026
Eternal Limited has submitted a monitoring agency report for the quarter ended March 31, 2026, detailing the use of funds raised via a qualified institutions placement. The report, prepared by ICRA Limited, confirms there has been no deviation in ...
Eternal Limited Shareholders Back Board Resolutions, Name Goyal Vice Chairman
Mar 13, 2026
Eternal Limited has announced the results of a recent postal ballot, conducted via remote e-voting, in which shareholders approved all resolutions proposed by the board. The company confirmed that the scrutinizer’s report, along with detaile...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.