Eternal Ltd

The frontline indices traded with substantial losses in the mid-morning trade, mirroring a global market rout driven by escalating trade tensions and mounting recession fears in the United States. The Nifty dropped below the 22,000 level. Media shares extended losses for the second consecutive trading session. At 11:30 IST, the barometer index, the S&P BSE Sensex, slumped 2,838.59 points or 3.77% to 72,526.10. The Nifty 50 index tanked 908.40 points or 3.97% to 21,996.05 In the broader market, the S&P BSE Mid-Cap index dropped 3.94% and the S&P BSE Small-Cap index tumbled 5.38%. The market breadth was weak. On the BSE, 334 shares rose and 3,515 shares fell. A total of 152 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, climbed 58.96% to 21.87. Economy: India's foreign exchange (forex) reserves jumped $6.596 billion to $665.396 billion during the week ended March 28, according to the latest data from the RBI. For the week ended March 28, foreign currency assets, a major component of the reserves, increased by $6.158 billion to $565.014 billion, the RBI data released on Friday showed. Gold reserves increased by $519 million to $77.793 billion during the week ended March 28. The special drawing rights (SDRs) were down by $65 million to $18.176 billion, the RBI said. India's reserve position with the IMF was also down by $16 million at $4.413 billion in the reporting week, the apex bank data showed. Buzzing Index: The Nifty Media index slumped 5.69% to 1,403.80. The index tanked 8.34% in the two consecutive trading sessions. Zee Entertainment Enterprises (down 8.35%), Dish TV India (down 7.30%), Hathway Cable & Datacom (down 5.93%), PVR Inox (down 5.63%), Sun TV Network (down 5.61%), Network 18 Media & Investments (down 5.43%), Saregama India (down 5.35%), Tips Music (down 4.6%), D B Corp (down 3.59%) and Nazara Technologies (down 2.53%) declined. Stocks in Spotlight: Zomato declined 1.73% after Rinshul Chandra, chief operating officer (COO) of food delivery at Zomato-parent Eternal, resigned from his position. Tata Motors plunges 8.01% after the media reported that Jaguar Land Rover (JLR), its UK-based subsidiary, will temporarily suspend vehicle exports to the U.S. starting April 7. Federal Bank slipped 2.23% after the bank's executive director (ED) Shalini Warrier, submitted her resignation on Friday to pursue an entrepreneurial opportunity. Global Markets: Dow Jones futures cratered by a jaw-dropping 1,070 points, setting the tone for what could be a turbulent day on the trading floor. Asian market also registered significant losses following China's retaliatory tariffs in response to recent U.S. trade measures, deepening concerns about a prolonged trade conflict between the world's two largest economies. Last week, President Donald Trump announced a 10% universal import tariff effective April 5. Additional tariffs targeting key trade partners, including China, Vietnam, Japan, and the European Union, are scheduled to take effect on April 9. In retaliation, China imposed a 34% tariff on a range of American goods, marking a sharp escalation in trade tensions. The European Union, meanwhile, is seeking alignment among its member states to craft a coordinated response, potentially involving further countermeasures. The escalating trade conflict has raised fears of a global trade war, with potential ramifications for international supply chains, inflation, and economic growth. In Japan, the Nikkei 225 index fell as much as 9% on Monday, reaching its lowest level since early November 2023. Japan's export-driven economy, particularly in sectors such as automotive, technology, and manufacturing, is considered especially vulnerable to rising U.S. tariffs. On Friday, U.S. markets had already reacted negatively to the trade developments. The Dow Jones Industrial Average declined 5.50%, marking its steepest drop in over three years. The S&P 500 fell 5.97%, and the Nasdaq Composite dropped 5.82%, with all three indices closing at six-month lows. Despite mounting concerns, Treasury Secretary Scott Bessent downplayed fears of an imminent recession in a media interview. Federal Reserve Chairman Jerome Powell also emphasized that there is no immediate need for a change in interest rates. He noted that the administration's trade policies could simultaneously push inflation higher while slowing economic growth. Meanwhile, March's nonfarm payrolls data provided a positive signal, coming in at 228,000 jobs added ' a notable increase from February's revised figure of 117,000. Powered by Capital Market - Live

Chandra has resigned with effect from 5 April 2025, to pursue new opportunities and passions, the company added. Zomato connects customers, restaurant partners, and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer-generated reviews, view and upload photos, order food delivery, book a table, and make payments while dining out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools that enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last-mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high-quality ingredients and kitchen products to restaurant partners. While the brand name of the company's food delivery business, Zomato, remains the same, along with the app, the company has changed the name of the corporate entity to Eternal. The company reported a 57.25% decline in consolidated net profit to Rs 59 crore in Q3 FY25 as compared with Rs 138 crore in Q3 FY24. However, revenue from operations jumped 64.39% YoY to Rs 5,405 crore during the quarter.Powered by Capital Market - Live

Eternal (formerly known as Zomato) has granted 2,17,960 stock options under ESOP on 01 April 2025. Powered by Capital Market - Live

The Nifty March 2025 futures closed at 22,969, a premium of 61.4 points compared with the Nifty's closing 22,907.60 in the cash market. In the cash market, the Nifty 50 jumped 73.30 points or 0.32% to 22,907.60. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.66% to 13.30. Zomato, Reliance Industries and State Bank of India were the top trading individual stock futures contracts in the F&O segment of the NSE. The March 2025 F&O contracts will expire on 27 March 2025.Powered by Capital Market - Live

The Nifty January 2025 futures closed at 23,105.10, a premium of 80.45 points compared with the Nifty's closing 23,024.65 in the cash market. In the cash market, the Nifty 50 slipped 320.10 points or 1.37% to 23,024.65. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.89% to 17.06. Zomato, Dixon Technologies and Reliance Industries were the top trading individual stock futures contracts in the F&O segment of the NSE. The January 2025 F&O contracts will expire on 30 January 2025. Powered by Capital Market - Live

Zomato Ltd lost 8.88% today to trade at Rs 219.55. The BSE Consumer Discretionary index is down 0.06% to quote at 9425.47. The index is down 3.92 % over last one month. Among the other constituents of the index, Dixon Technologies (India) Ltd decreased 5.76% and The Hi-Tech Gears Ltd lost 4.63% on the day. The BSE Consumer Discretionary index went up 16.47 % over last one year compared to the 8.17% surge in benchmark SENSEX. Zomato Ltd has lost 22.1% over last one month compared to 3.92% fall in BSE Consumer Discretionary index and 1% drop in the SENSEX. On the BSE, 6.38 lakh shares were traded in the counter so far compared with average daily volumes of 23.95 lakh shares in the past one month. The stock hit a record high of Rs 304.5 on 05 Dec 2024. The stock hit a 52-week low of Rs 128.1 on 23 Jan 2024.Powered by Capital Market - Live

However, revenue from operations jumped 64.39% YoY to Rs 5,405 crore during the quarter. Adjusted EBITDA surged 128% to Rs 285 crore during the quarter as compared with Rs 125 crore in Q3 FY24. However on QoQ basis, adjusted EBITDA lower by 14% driven by investment in expedited new store openings and new customer acquisition in quick commerce business. Gross order value (GOV) of B2C business jumped 57% YoY to Rs 20,206 crore in Q3 FY25. On a like-for like basis (excluding the impact of the acquisition of Paytm's entertainment ticketing business) GOV growth was 52% YoY (12% QoQ). 'As we continue to bring forward store expansion, our networks may have to carry a greater load of under-utilized stores which will impact near-term profits in the next one or two quarters. These investments will however also likely result in GOV growth remaining meaningfully above 100%, at least for FY25 and FY26. Once we come out from this period of expansion, the business is likely to turn sharply from being loss making to becoming meaningfully profitable as a larger part of our business starts comprising mature stores compared to newly added ones,' the food delivery company stated in shareholders' letter. In food delivery business, adjusted revenue jumped 17% YoY to Rs 2,413 crore during the quarter while adjusted EBITDA surged 171% to Rs 423 crore in Q3 FY25 as against 252 crore in Q3 FY24. GOV jumped 17% YoY to Rs 9,913 crore. Average monthly transacting customers increased 9.04% to 20.5 million in Q3 FY25 as against 18.8 million in Q3 FY24. The company expects more than 20% YoY GOV growth guidance for the food delivery business. Adjusted revenue from quick commerce surged 117% to Rs 1,399 crore during the quarter from Rs 644 crore in Q3 FY24 while the Blinkit reported net loss of Rs 103 crore in Q3 FY25 as compared with net loss of Rs 89 crore. In going-out business, like-for-like numbers (excluding the impact of the acquired business) in Q2FY25 and Q3FY25 for (a) adjusted revenue growth are 57% YoY and 55% YoY respectively, (b) change in adjusted EBITDA are Rs 286 crore YoY and Rs 163 crore YoY respectively and (c) GOV growth are 53% YoY and 52% YoY respectively. 'While the core business continues to be profitable, the quarterly loss in Q3FY25 was largely driven by the investment in the new District app (team, marketing, tech costs). Most of the investments from here on will be focused on getting customers to transition to the new app and grow selection on our platform. We are likely to operate in losses for the next year or so but we don't expect them to be meaningful in the overall context of Zomato,' the company stated in shareholders' letter. Blinkit's CEO, Albinder Dhinsa said that in the last two quarters, we have added 368 net new stores (152 in Q2FY25 and 216 in Q3FY25) accounting for about 37% of our total store network of 1,007 stores. Further, Zomato, CEO, Deepinder Goyal said that as of now, it seems like will get to target of 2,000 stores by Dec 2025, much earlier than its previous guidance of Dec 2026. Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners.Powered by Capital Market - Live

Net profit of Zomato declined 57.25% to Rs 59.00 crore in the quarter ended December 2024 as against Rs 138.00 crore during the previous quarter ended December 2023. Sales rose 64.39% to Rs 5405.00 crore in the quarter ended December 2024 as against Rs 3288.00 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales5405.003288.00 64 OPM %3.001.55 - PBDT371.00252.00 47 PBT124.00124.00 0 NP59.00138.00 -57 Powered by Capital Market - Live

Zomato will hold a meeting of the Board of Directors of the Company on 20 January 2025.Powered by Capital Market - Live

After a strong 2024, the broker anticipates a period of consolidation for Zomato. While valuations are not considered expensive, concerns remain about rising competition in the quick commerce sector. Aggressive moves by incumbents and new entrants are likely to lead to increased discounting, potentially impacting medium-term profitability. The broker sharply reduced its EBITDA forecast for Blinkit over FY26-27. Zomato connects customers, restaurant partners and delivery partners. Customers use Zomato to search and discover restaurants, read and write customer generated reviews and view and upload photos, order food delivery, book a table and make payments while dining-out at restaurants. On the other hand, it provides restaurant partners with industry-specific marketing tools which enable them to engage and acquire customers to grow their business while also providing a reliable and efficient last mile delivery service. The company also operates a one-stop procurement solution, Hyperpure, which supplies high quality ingredients and kitchen products to restaurant partners. Zomato's consolidated net profit surged 388.89% to Rs 176 crore on 68.5% jump in revenue from operations to Rs 4,799 crore in Q2 FY25 over Q2 FY24. Powered by Capital Market - Live