Zomato Ltd. (IN:ETERNAL)
:ETERNAL
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Zomato Ltd.
(ETERNAL)
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Rating:58Neutral
Price Target:
₹242.00
▼(-15.15% Downside)
Action:N/ADate:02/19/26
The score is primarily supported by improving profitability and strong growth alongside a low-leverage balance sheet. It is held back by unstable cash flow (negative FY2025 free cash flow and weak cash conversion), mixed technical signals, and a significant valuation risk due to the extremely high P/E and lack of dividend yield.
Positive Factors
Revenue Growth
Zomato’s historically strong revenue expansion and the FY2025 acceleration reflect broad platform adoption across food delivery, advertising and quick-commerce. Durable network effects among consumers, restaurants and riders should support sustained order growth and scale-driven efficiency over several quarters.
Negative Factors
Operating Profitability
EBIT staying negative indicates core operations haven't reached self-sustaining operating profitability. Reliance on non-operating items or one-offs to deliver net income raises execution risk; sustained margin expansion at the operating level is required for durable, cash-backed earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Zomato’s historically strong revenue expansion and the FY2025 acceleration reflect broad platform adoption across food delivery, advertising and quick-commerce. Durable network effects among consumers, restaurants and riders should support sustained order growth and scale-driven efficiency over several quarters.
Read all positive factors
Zomato Ltd. (ETERNAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.24T
Dividend YieldN/A
Average Volume (3M)959.24K
Price to Earnings (P/E)631.9
Beta (1Y)1.11
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees3,988
SectorConsumer Cyclical
Sector Strength84
IndustryInternet Content & Information
Share Statistics
EPS (TTM)0.11
Shares Outstanding9,650,351,000
10 Day Avg. Volume1,536,510
30 Day Avg. Volume959,237
Financial Highlights & Ratios
PEG Ratio6.02
Price to Book (P/B)5.62
Price to Sales (P/S)8.41
P/FCF Ratio-271.12
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹370.00Price Target Upside29.73% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.24
Revenue Forecast (FY)₹996.93B
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
84
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 248.28B | 202.43B | 121.14B | 70.35B | 41.20B | 19.16B |
| Gross Profit | 105.00B | 146.78B | 92.32B | 56.40B | 35.39B | 17.24B |
| EBITDA | 14.45B | 17.14B | 8.89B | -5.32B | -10.60B | -6.69B |
| Net Income | 1.63B | 5.27B | 3.51B | -9.71B | -12.09B | -8.13B |
Balance Sheet | ||||||
| Total Assets | 381.15B | 356.23B | 233.56B | 215.99B | 173.27B | 87.03B |
| Cash, Cash Equivalents and Short-Term Investments | 46.43B | 86.55B | 34.05B | 94.08B | 65.97B | 37.05B |
| Total Debt | 61.18B | 20.45B | 7.49B | 5.07B | 703.00M | 725.00M |
| Total Liabilities | 73.00B | 53.13B | 29.50B | 21.46B | 8.28B | 6.11B |
| Stockholders Equity | 308.22B | 303.17B | 204.13B | 194.60B | 165.06B | 80.99B |
Cash Flow | ||||||
| Free Cash Flow | -11.05B | -6.28B | 4.31B | -9.47B | -7.52B | -10.28B |
| Operating Cash Flow | 2.58B | 3.08B | 6.46B | -8.44B | -6.93B | -10.18B |
| Investing Cash Flow | -80.56B | -79.93B | -3.47B | -331.00M | -79.38B | -52.44B |
| Financing Cash Flow | 78.52B | 80.42B | -2.07B | -1.18B | 87.50B | 64.02B |
Zomato Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | ₹110.94B | 20.31 | ― | 0.31% | 41.61% | 44.11% | |
65 Neutral | ₹413.08B | 34.72 | ― | 1.32% | 7.66% | 14.36% | |
63 Neutral | ₹60.83B | 74.06 | ― | 0.58% | 9.11% | 16.30% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | ₹86.14B | 47.77 | ― | 0.79% | 29.92% | 22.87% | |
58 Neutral | ₹2.24T | 631.93 | ― | ― | ― | ― | |
57 Neutral | ₹330.47B | 190.78 | ― | ― | 9.17% | 1685.95% |
* Consumer Cyclical Sector Average
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Zomato Ltd.
232.00
16.75
7.78%
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Zomato Ltd. Corporate Events
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.