{
  "id": 12873094,
  "title": "Broker’s call: Eternal (Buy)",
  "url": "https://urgent.news/2026/10/08/brokers-call-eternal-buy",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-08T12:40:15.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/brokers-call-eternal-buy/article71559535.ece"
  },
  "original_language": "en",
  "account": "Blinkit's subsidiary, Eternal, has demonstrated robust growth driven by its expansion of dark-stores and increased market share. The company anticipates a substantial 76% year-over-year increase in net order value (NOV) for Q2FY27E, with adjusted EBITDA projected at ₹150 crore and an adjusted EBITDA margin of 0.8% (up 15 basis points quarter-over-quarter). Blinkit maintains its position as the market leader and the sole major quick commerce (QC) player to achieve EBITDA-level profitability, despite intensified competition. The company projects EBITDA margin to reach 3.1% by FY29E, fueled by operating leverage, enhanced store productivity, and improved store economics. The food delivery (FD) segment is expected to generate adjusted EBITDA of ₹3.8 billion by FY29E (approximately 5.7% of NOV), serving as a vital cash-generating source and bolstering overall free cash flow (FCFF). The analysts believe Blinkit's value proposition of convenience has significant potential to grow further as its dark-store count approaches 3,000. They perceive limited near-term risks to the existing duopoly structure in the food delivery market. As both food delivery and QC transition into cash-generative engines, there is potential for value discovery in 'going out.' The analysts maintain a BUY rating with a target price (TP) revised to ₹425, to be implemented six months forward. Potential risks include a slowdown in discretionary spending and externalities that could disrupt business operations.",
  "summary": "ICICI Securities",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}