ETERNAL

– From Food to Everything

The Big Picture:

(earlier Zomato) is now a four-engine platform: Zomato (Food Delivery) – core business. Blinkit (Quick Commerce) – 10-min groceries. Hyperpure – supplies for restaurants. District – events & ticketing. Why Traders are Excited: The stock hit a 52-week high with a bullish “Cup with Handle.” ₹300–310 is the buy zone, ₹255 stop-loss. Upside seen at ₹360, and ₹400+ if momentum sustains. Indicators confirm uptrend. Blinkit – The Star: Revenue doubled in a year, now with 1,300+ dark stores (₹60–70 lakh setup, mostly rented). Target 2,000 by 2026. Could outgrow food delivery in 5 years. Food Delivery – Steady: Still growing in mid-teens, boosted by ads, memberships, and Zomato Gold. Swiggy remains a tough competitor. District & Hyperpure: District (ticketing/events) is small but growing, competing with BookMyShow. Hyperpure steadily expands with restaurant supplies. Valuation Debate: At PE 120+, looks expensive. But Eternal is in heavy investment mode. Better to track order economics, Blinkit store payback, and ad-driven margins. Assets & Goodwill: Few hard assets; most stores rented. True value lies in brand, tech, customers, network, and acquisitions (recorded as “Goodwill”). People Power: 16,000+ employees plus thousands of delivery partners – a key urban job creator. Next 5 Years: Blinkit may drive 40–45% of revenue, food 30–35%, rest from Hyperpure & District. Execution could make Eternal a tech-retail giant. Risks: Competition (Swiggy, Zepto), regulation, and over-expansion. In Short: Eternal is beyond food. Stock looks technically strong (₹400+ possible). Blinkit is the growth engine; investors bet on future scale, not current profits. Disclosure: I hold no financial interest in the stock. Disclaimer: This is for information only, not investment advice.