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Shareholding Info
  • Foreign institutions-FII
    54.88 %
  • Other domestic institutions
    3.13 %
  • Retail and other
    29.65 %
  • Mutual Funds
    12.34 %

About Zomato

Zomato is a multinational restaurant aggregator and online food delivery service provider. It was established 15 years ago in July 2008 by Deepinder Goyal and Pankaj Chaddah as FoodieBay. It initially started with listing of restaurants on its platform and gradually diversified into online food delivery, restaurant booking and quick commerce. It offers details like menus and user reviews for restaurants on its platform.

Zomato currently covers over 1,000 cities and towns in India, providing food delivery from partnered restaurants.

The company went public after the launch of its IPO in July 2021. As of December 13, 2023, the market capitalisation of Zomato stood at over ₹1 lakh crore. Zomato share price has surged over 92% in the last one year.

Zomato business operations

In 2010, Goyal and Chaddah rebranded FoodieBay to Zomato due to uncertainty about focusing only on food and also due to the similarity of the brand with eBay. The following year, Zomato extended its reach across India, covering major cities Delhi-NCR, Mumbai, Bengaluru, Chennai, Pune, Ahmedabad and Hyderabad. By 2012, the company expanded globally into countries like the United Arab Emirates, Sri Lanka, Qatar, the United Kingdom, the Philippines and South Africa. In 2013, Zomato was introduced in New Zealand, Turkey, Brazil and Indonesia. The company launched websites and apps in Turkish, Portuguese, Indonesian and English languages. In 2014, Zomato entered Portugal, followed by expansions into Canada, Lebanon and Ireland in 2015.

In January 2015, Zomato acquired Urbanspoon, a restaurant discovery portal based in Seattle, US. This acquisition marked Zomato's entry into the United States and Australia. The expansion into the US put Zomato in direct competition with platforms like Yelp and Foursquare, which were operating in the same segment.

Over the years, Zomato has acquired many companies. In 2016, it acquired Sparse Labs, a Gurgaon-based technology startup, and rebranded it as Zomato Trace. The company expanded its portfolio by acquiring TongueStun Food in September 2018. TongueStun Food is a Bengaluru-based food e-marketplace.

Zomato acquired its rival Uber Eats on January 21, 2020. Zomato acquired a 9.3% stake in Grofers by investing nearly $120 million in June 2021. The company then completed the acquisition of Grofers in a $568 million deal in 2022. The quick grocery delivery entity was rebranded as Blinkit.

Zomato has many subsidiaries as of 2023. Blinkit (formerly Grofers) and Hyperpure are the most famous ones. Blinkit is a quick commerce platform for customers to order everyday essentials. Hyperpure is a B2B platform that provides high-quality ingredients and kitchen products to partner restaurants.

Zomato said that it plans to open a minimum of 100 new stores (net) by the end of FY24. It also aims to open around 480 stores in total by March 2024.

Zomato Financial Highlights

  • Consolidated revenue in FY 2022-23 stood at ₹4,707 crore, up 30.3% from ₹3,611 crore in FY 2021-22.
  • The company reported a profit of ₹116 crore in FY23 as against a loss of ₹1,098 crore in FY22.
  • The total income of the company in FY23 stood at ₹5,506 crore compared to ₹4,108 crore in FY22.
  • The EBIT (earnings before interest and taxes) stood at ₹134 crore in FY23 as against ₹(- 1,092) crore in the previous fiscal.
  • The company made a total capital expenditure of ₹5,372 crore in FY23.
  • The earnings per share (EPS) was at ₹(- 0.14) in FY23 compared to ₹ (- 1.52) in the last financial year.
  • In FY23, the total liabilities of the company stood at ₹21,926 crore as against ₹6,185 crore in FY22.

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