According to Moneycontrol, Eternal Limited shares were trading at ₹322.50 on Wednesday, marking a 2.09% increase from its previous close. The stock, a constituent of the Nifty 50 index, experienced this upward movement as investors showed very bullish sentiment following recent corporate developments. This positive momentum comes after the company's strong quarterly performance in India's quick commerce sector, where it has demonstrated superior growth compared to competitors.
According to reports from The Financial Express, Eternal Limited, the company behind Blinkit, has demonstrated superior performance in India's quick commerce sector. The company's quick commerce segment reported ₹15,664 crore revenue in the recent quarter, representing 18.4% quarter-on-quarter growth. In terms of Net Order Value (NOV), Eternal's quick commerce segment achieved ₹17,132 crore in the recent quarter, up from ₹14,386 crore in Q4 2026, showing 19.08% QoQ growth. This significantly outperformed Swiggy's Instamart, which reported Gross Order Value (GOV) of ₹7,907 crore compared to ₹7,881 crore in Q4 2026, with only 0.2% QoQ growth. Recent developments show Swiggy has reported strong Q1 performance with consolidated revenue of ₹6,812 crore, representing 37.3% year-on-year growth, and reduced consolidated net loss to ₹791 crore compared to ₹1,197 crore in the corresponding quarter last year.
According to Moneycontrol, Eternal's consolidated financial results for recent periods highlight significant revenue growth. For the quarter ending June 2026, the company reported a revenue of ₹20,211 crore, a substantial increase from ₹7,167 crore in June 2025. Similarly, annual consolidated revenue has also seen a robust rise, climbing to ₹54,364 crore in the year ending March 2026 from ₹4,192.40 crore in March 2022. Net profit, however, has shown some fluctuations - for the quarter ending June 2026, net profit stood at ₹92 crore, down from ₹174 crore in March 2026. On an annual basis, the net profit for the year ending March 2026 was ₹366 crore, a decrease from ₹527 crore in March 2025, but a significant improvement from the loss of ₹1,222.80 crore in March 2022. Earnings per share (EPS) recorded ₹0.10 for the quarter ending June 2026 and ₹0.40 for the year ending March 2026.
As reported by The Financial Express, Eternal has built a substantial competitive moat through its warehouse expansion strategy. The company added 200 dark stores in the recent quarter, bringing its total count to 2,443 stores, representing 8.9% QoQ growth. In contrast, Swiggy added only 28 net dark stores to reach 1,171 stores, with QoQ growth of only 2.5%. Eternal's adjusted EBITDA margin stands at 5.3% of NOV compared to Swiggy's contribution margin of -0.2% of GOV. The company's dark store rental costs have increased over recent quarters, creating barriers for new entrants to replicate this infrastructure. Swiggy has also been investing in technology, warehousing, and supply chain capabilities across multiple states as competition in India's e-commerce sector intensifies.
As reported by The Financial Express, the quick commerce sector presents significant growth opportunities despite current competition. According to estimates by IBEF, India's retail market could reach ₹1,00,00,000 crore, with Eternal's recent quarterly NOV representing less than 1% of this market base. Verified Market Research projects the quick commerce sector could deliver 63% CAGR from 2026 to 2032. The analysis suggests potential industry consolidation among the top 3-4 players, which could benefit established players like Eternal by reducing competitive pressures and allowing better margin expansion. Recent developments show Swiggy expanding beyond grocery into fashion quick commerce, with startups like Zilo launching mall-to-home delivery models to address the challenge of online fashion retail assessment.
