Eternal Q4 Highlights: Strong Expansion & Quick Commerce Momentum
Industry & Financials
• No meaningful impact yet from LPG shortage
• Cash Balance: ₹17,972 Cr (stable vs Q3)
Growth Guidance (District)
• Targeting $3Bn NOV
• $150 Mn Adjusted EBITDA by FY30
• Management remains confident on long-term trajectory
Store Expansion
• Dark Stores: 2,243 (above estimates)
• Q4 Additions: 216 stores (strong expansion pace)
Long-Term Vision
• First $10Bn NOV took 18 years
• Next $10Bn growth expected in <2 years (sharp acceleration)
Blinkit (Quick Commerce) Highlights
Margins & Profitability
• Target 5–6% margins
• Margin expansion may be non-linear, but improving trend
Market & Growth
• Currently concentrated in top 15–20 cities
• Strong headroom in:
– Geography expansion
– Product assortment
– Order frequency
Key Takeaway
Aggressive expansion in quick commerce, improving profitability trends, and strong cash position support high growth visibility.