Eternal share price slips into the red after surging 7.5% in early trade; key details to know

The stock in the opening deals jumped as much as 7.58% to hit a high of ₹305 apiece on the NSE. However, the scrip erased all its gains later and slipped into the red.

Last seen, the stock was trading at ₹281.65 on the NSE, down 0.65%.

The parent entity of Zomato and Blinkit, on Wednesday, reported a 72.88% rise in consolidated net profit at ₹102 crore for the December quarter of FY26, driven by robust revenue growth from its quick commerce operations.

In the year-ago period, the company logged a profit of ₹59 crore.

The company's board also approved the resignation of Deepinder Goyal as Director, MD & CEO of the company, with effect from February 1 and recommended his appointment as Vice Chairman & Director on the board for a five-year term.

Besides, the board approved the appointment of Albinder Singh Dhindsa, currently Blinkit's CEO, as Eternal's Chief Executive Officer from February 1, a regulatory filing said.

Eternal's revenue from its quick commerce business Blinkit jumped multifold to ₹12,256 crore in the quarter from ₹1,399 a year ago.

However, losses from its business district, which is into providing services like ticketing and dining out, increased on account of continued investments in category creation, Eternal said, observing that it expects losses to reduce from here sequentially towards break-even in the next 4-6 quarters.

In a letter to shareholders, Eternal's Chief Financial Officer (CFO) Akshant Goyal stated that its cash balance decreased to ₹17,820 crore (vs ₹18,314 crore in Q2FY26) largely due to the expected investments in capital expenditure and net working capital in its quick commerce business (Blinkit).

Eternal informed that the Blinkit and Hyperpure (B2B supply chain) businesses turned Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) profitable in Q3FY26, for the first time ever.

What analysts say

Analysts are positive on the stock post the Q3 earnings announcement. They noted that Blinkit delivering positive EBITDA and the stepping down of Deepinder Goyal as the CEO, passing the baton to Albinder Dhindsa, are positive updates from the company.

Here is what leading investment firms said.

CLSA said that Blinkit’s contribution per order of ₹30 beat its estimate of ₹28, supported by strong net order value (NOV) growth of 121% YoY. MTUs came in at 23.6 million versus their estimate of 22.5 million, as Eternal acquired higher-quality customers through a consistent pricing strategy and an expanding assortment.

Jefferies said the surprise factor continues with two major updates. First, Blinkit delivered positive EBITDA at a time when competitive intensity appears to be near its peak, reflecting the underlying strength of the business. Factors such as higher AOV, favourable mix, a shift to the 1P model, and past investments contributed to this performance.

The second update is Deepinder Goyal stepping down as CEO and passing the baton to Albinder.

HSBC said the company delivered multiple positive surprises in the quarter, with food growth acceleration and QC EBITDA break-even being the key highlights.

The QC growth slowdown in Q3 was driven by the GST cut and seasonality, which leaves upside risk to FY27 consensus NOV estimates.

HSBC continues to expect 15–20% annual returns from Eternal.

Nomura added that food delivery (FD) performance was in line with expectations, with growth picking up. Quick commerce delivered a surprise break-even in 3Q, though growth marginally disappointed. The organisational transition needs to be monitored closely, and a key risk remains – lower profitability in quick commerce for an extended period.