Eternal Q2 FY27 Results on Oct 21: Can Blinkit Deliver the Profit Jump Brokerages Expect?

Eternal Q2 FY27 Results on Oct 21: Date and Time

Eternal Ltd, the parent company of Zomato and Blinkit, will announce its Q2 FY27 financial results on Wednesday, October 21, 2026. Investors will be watching closely to see whether rapid growth in quick commerce can translate into stronger profitability.

The company’s board is scheduled to approve the unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2026. According to the company’s exchange filing, the earnings conference call is scheduled for 5:00 PM IST on the same day.

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Eternal Q2 FY27 Results on Oct 21: What Brokerages Expect

Brokerage estimates point to strong year-on-year profit growth and an improvement in operating performance. However, the actual results will determine whether Eternal can meet market expectations.

Kotak Institutional Equities estimates consolidated revenue of ₹23,729.3 crore and EBITDA of ₹854.2 crore. It also projects profit after tax (PAT) of ₹293.2 crore, representing year-on-year growth of 351.1%.

Motilal Oswal expects EBITDA of ₹826 crore, up 246% year-on-year, with an EBITDA margin of 3.8%, compared with 1.8% a year earlier. These are analyst estimates, not confirmed financial results.

Eternal Q2 Results: Date and Schedule

• Company: Eternal Limited

• Results date: Wednesday, October 21, 2026

• Reporting period: Quarter and half-year ended September 30, 2026

• Board meeting: To consider and approve unaudited standalone and consolidated financial results.

• Earnings conference call: 5:00 PM IST on October 21, 2026.

• Key businesses: Zomato food delivery, Blinkit quick commerce, and Eternal’s other businesses.

• Current status: Results are scheduled for tomorrow; the estimates discussed below are not confirmed financial outcomes.

Blinkit Growth and Food Delivery Will Be Key Drivers

Blinkit’s quick-commerce business is expected to remain a major focus. Analysts anticipate 75% year-on-year and 19% quarter-on-quarter growth in net order value (NOV), supported by the expansion of its dark-store network.

Investors will want to know whether higher order volumes can improve operating leverage and margins. Rapid expansion can strengthen market reach, but it also increases spending on infrastructure, employees and delivery operations.

Eternal’s food delivery business is expected to remain relatively stable, with analysts projecting around 20% year-on-year NOV growth. The results should help investors assess whether food delivery can continue supporting earnings while Blinkit expands.

Eternal Q2 FY27 Results: Brokerage Estimates

Brokerages expect strong sequential revenue growth and substantial year-on-year improvement in operating profitability. Estimates differ because analysts use different assumptions and may report adjusted or unadjusted metrics.

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Eternal Share Price History and Recent Business Updates

Eternal shares closed at ₹320.45 on October 13, down 0.79% for the session. The stock had traded between ₹212.60 and ₹368.45 over the preceding 52-week period, based on the supplied historical data. The October 19 closing price provides a more recent reference before the earnings announcement.

The company also granted 41.79 lakh stock options to eligible employees on October 1. On October 9, CEO Deepinder Goyal said 31 lakh Indians earned through Zomato and Blinkit as delivery partners in FY26, a 57% year-on-year increase.

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What do these estimates indicate?

• Revenue growth: Kotak expects consolidated revenue to increase 17.4% quarter-on-quarter to ₹23,729.3 crore.

• Higher EBITDA: Kotak projects EBITDA of ₹854.2 crore, up 257.4% year-on-year.

• Margin expansion: Its forecast EBITDA margin is 3.6%, an increase of 184 basis points year-on-year and 66 basis points sequentially.

• Improved profitability: Kotak estimates adjusted PAT of ₹293.2 crore, up 351.1% year-on-year.

• Important caveat: Large percentage increases can reflect a low comparison base. Investors should also examine absolute profit, cash flow and the quality of earnings.

3. Blinkit: The Most Important Growth Driver

• Net Order Value (NOV): HDFC Securities expects Blinkit’s NOV to grow 75% year-on-year and 19% quarter-on-quarter, according to the Q2 preview.

• Dark-store expansion: The brokerage models approximately 2,693 stores by the end of the quarter, implying around 250 additions during Q2.

• Revenue growth: HDFC Securities expects Blinkit’s adjusted revenue to increase 17.8% quarter-on-quarter.

• Profitability: The brokerage expects adjusted EBITDA margin to improve by 30 basis points sequentially, helped by greater store efficiency.

• Investor focus: The key question is whether Blinkit can sustain rapid growth while improving store-level economics and overall profitability.

4. Zomato Food Delivery: Steady Growth and Margins

• NOV growth: HDFC Securities expects food-delivery NOV to increase 20% year-on-year.

• Adjusted revenue: Zomato’s food-delivery adjusted revenue is projected at ₹3,490 crore, up 22% year-on-year.

• Margins: The brokerage expects food-delivery margins to improve across the metrics it tracks.

• Sequential growth: The article’s additional estimates indicate approximately 6% quarter-on-quarter growth in food-delivery order value.

• What to watch: Order frequency, customer retention, restaurant participation, delivery costs and competition will help determine whether growth translates into sustained earnings improvement.

5. Capital Expenditure, Costs and Working Capital

• Dark-store investments: Blinkit’s expansion requires spending on new stores, equipment, inventory and supporting infrastructure.

• Operating costs: Delivery expenses, employee costs, advertising and other operating expenses will affect the conversion of revenue into profit.

• Working capital: The supplied article reports that the working-capital cycle improved from 36.3 days to 22.9 days. This figure should be checked against the underlying company or brokerage report before publication.

• Profit versus cash flow: Higher EBITDA does not automatically mean stronger free cash flow, particularly when a business is investing aggressively in expansion.

• Key question: Can Eternal continue investing in growth without sacrificing operating efficiency or financial flexibility?

6. Recent Business Updates

• October 1 — Employee stock options: Eternal announced a grant of 41.79 lakh stock options to eligible employees under its employee stock-option schemes.

• October 9 — Delivery-partner earnings: CEO Deepinder Goyal said 31 lakh Indians earned through Zomato and Blinkit as delivery partners during FY26, representing 57% year-on-year growth.

• October 9 — EV Bazaar: The company’s platforms hosted the third EV Bazaar in New Delhi, bringing together 2,500 delivery partners and more than 20 electric-vehicle manufacturers.

   

Eternal Share Price History

The following table summarises Eternal Limited’s historical share-price performance as reported for October 13, 2026.

Note: The six-month gain is reported through October 13, 2026. These are historical figures, not today’s live share price.

• Six-month performance: The stock gained ₹84.23, rising from approximately ₹236.22 in April to ₹320.45 on October 13.

• October 13 trading: The stock opened at ₹323, reached an intraday high of ₹328.60 and fell to ₹318 before closing at ₹320.45.

• Latest available close in the sources reviewed: A market-data source reported ₹320.20 for October 19. This is a later reference point than the October 13 closing price, but it should not be presented as a live October 20 quote.

Historical performance does not predict how the stock will react to the upcoming results.

Here’s What Happened Today and Why Traders Reacted

Eternal shares closed at ₹320.20 on October 19, 2026, down ₹5.10, or 1.57%, according to Moneycontrol. Indian equity markets were closed on October 20 for Dussehra, making the October 19 close the latest available trading reference ahead of the results.

The stock’s reaction to the earnings announcement will depend on whether actual revenue, profitability and management commentary meet expectations. Strong results could support sentiment, while weaker margins or higher-than-expected expansion costs could put pressure on the share price.

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What Eternal Investors Should Watch After the Results

Investors should focus on revenue growth, EBITDA margins, net profit, Blinkit’s store expansion and management’s outlook for operating costs. Updates on capital expenditure and the path to sustainable quick-commerce profitability will also matter.

A strong earnings report may support the stock, but positive expectations could already be reflected in its valuation. Investors should compare the reported figures with brokerage estimates rather than rely on profit growth alone.

The key question for Eternal shareholders is whether Blinkit’s rapid expansion can deliver sustainable profits without weakening the economics of the core food delivery business.