Incorporated in 2010, Zomato Limited is one of the leading online Food Service platforms in terms of the value of food sold. Its offerings include food delivery, dining-out services, Loyalty programs, and others.As of December 31, 2020, Zomato has established a strong footprint across 23 countries with 131,233 active food delivery restaurants, 161,637 active delivery partners, and an average monthly food order of 10.7 million customers.[1]
Business Segments1) Food Delivery (44% in H1 FY25 vs 81% in FY22):[1][2]The company operatesZomato, a B2C technology platform that allows customers to discover local restaurants, order food, and have it delivered through a last-mile network of independent delivery partners, with a presence in 800+ cities. The segment revenue grew by 35% YoY in H1 FY25, driven by a 24% rise in Gross Order Value (GOV).[3][4][5][6]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Eternal | 279.05 | 113.67 | 269293.03 | 0.00 | 691.00 | 64.13 | 2650.00 | 23.20 | 7.34 | 9481.00 | 13.68 | 2369.09 | 691.00 | 7.52 | 6.20 | 0.01 |
| 2. | Swiggy | 361.00 | â | 99647.32 | 0.00 | -1092.00 | -75.28 | 5561.00 | 54.43 | -29.22 | 18925.07 | -18.20 | -4172.57 | -1092.00 | 9.19 | -24.15 | 0.25 |
| 3. | Meesho | 182.24 | â | 82247.30 | 0.00 | -289.36 | â | 2503.87 | â | -8.71 | 9389.90 | -6.16 | -4851.17 | -215.92 | â | -85.20 | 0.04 |
| 4. | FSN E-Commerce | 269.05 | 735.10 | 77016.20 | 0.00 | 32.98 | 249.10 | 2345.98 | 25.14 | 9.59 | 8829.89 | 6.50 | 104.77 | 35.05 | 55.47 | 1.95 | 1.01 |
| 5. | Urban Company | 134.19 | â | 19405.34 | 0.00 | -52.39 | -586.90 | 747.30 | 33.90 | 2.37 | 1114.57 | -9.46 | -45.45 | -52.39 | 8.51 | 12.43 | 0.06 |
| 6. | Brainbees Solut. | 291.40 | â | 15211.49 | 0.00 | -50.54 | 33.09 | 2099.08 | 10.19 | -0.40 | 8064.27 | 2.72 | -134.63 | -33.22 | 3.19 | -2.79 | 0.35 |
| 7. | Cartrade Tech | 2936.30 | 75.11 | 14048.12 | 0.00 | 64.07 | 113.99 | 193.41 | 25.42 | 7.59 | 712.18 | 28.55 | 187.04 | 59.66 | 6.00 | 5.54 | 0.06 |
| â | Median: 13 Co. | 259.65 | 31.13 | 14048.12 | 0.0 | 3.41 | 21.93 | 1286.3 | 25.28 | 7.34 | 2039.04 | 2.72 | 9.03 | 3.41 | 5.75 | 4.01 | 0.25 |
Standalone figures in âš crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 1,191 | 1,782 | 2,226 | 1,420 | 2,048 | 2,413 | 1,207 | 1,824 | 2,192 | 1,178 | 1,596 | 2,151 | 2,650 |
Expenses | 1,310 | 1,609 | 1,932 | 1,307 | 1,831 | 2,089 | 1,203 | 1,635 | 1,903 | 1,319 | 1,489 | 1,897 | 2,260 |
Operating Profit | -119 | 173 | 294 | 113 | 217 | 324 | 4 | 189 | 289 | -141 | 107 | 254 | 390 |
Other Income | 225 | 236 | 311 | 186 | 276 | 405 | 204 | 230 | 393 | 198 | 229 | 269 | 436 |
Profit before tax | 62 | 385 | 574 | 276 | 470 | 681 | 182 | 396 | 649 | 12 | 315 | 497 | 771 |
Tax % | 0% | 0% | 14% | 0% | 0% | 12% | 0% | 0% | 11% | 0% | 0% | 15% | 10% |
Net Profit | 62 | 384 | 494 | 276 | 470 | 602 | 182 | 396 | 575 | 12 | 315 | 421 | 691 |
EPS in Rs | 0.07 | 0.45 | 0.51 | 0.32 | 0.53 | 0.62 | 0.21 | 0.45 | 0.60 | 0.01 | 0.37 | 0.48 | 0.72 |
Standalone Figures in âš Crores / Yearly
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 79 | 134 | 245 | 371 | 1,163 | 2,336 | 1,714 | 3,611 | 4,707 | 6,622 | 8,617 | 9,481 |
Expenses | 176 | 416 | 863 | 427 | 4,529 | 4,543 | 2,048 | 5,238 | 5,234 | 6,040 | 7,563 | 8,184 |
Operating Profit | -97 | -282 | -617 | -56 | -3,366 | -2,207 | -334 | -1,627 | -527 | 582 | 1,054 | 1,297 |
Other Income | 31 | 26 | 65 | 14 | 2,508 | -160 | -415 | 668 | 800 | 881 | 1,249 | 1,545 |
Interest | 1 | 4 | 15 | 24 | 59 | 11 | 8 | 6 | 16 | 18 | 16 | 20 |
Depreciation | 5 | 22 | 18 | 13 | 23 | 74 | 129 | 133 | 140 | 73 | 97 | 147 |
Profit before tax | -72 | -281 | -585 | -78 | -940 | -2,451 | -886 | -1,098 | 117 | 1,372 | 2,190 | 2,675 |
Net Profit | -72 | -281 | -585 | -78 | -940 | -2,451 | -886 | -1,098 | 117 | 1,371 | 1,960 | 2,362 |
EPS in Rs | -2,408.98 | -9,128.74 | -19,026.66 | -2,324.25 | -27,849.27 | -72,584.54 | -25,206.26 | -1.39 | 0.14 | 1.55 | 2.03 | 2.45 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | â |
Standalone figures in âš crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.00 | 764 | 836 | 868 | 907 | 910 |
Reserves | 662 | 558 | 384 | 1,419 | 2,812 | 601 | 7,754 | 16,003 | 19,970 | 21,907 | 33,208 | 34,910 |
Borrowings | 0 | 304 | 0 | 0 | 0 | 319 | 501 | 30 | 157 | 149 | 173 | 248 |
Other Liabilities | 21 | 140 | 57 | 94 | 677 | 2,065 | 493 | 703 | 964 | 1,401 | 1,563 | 1,785 |
Total Liabilities | 683 | 1,002 | 442 | 1,513 | 3,489 | 2,985 | 8,748 | 17,501 | 21,927 | 24,325 | 35,851 | 37,853 |
Fixed Assets | 14 | 27 | 13 | 4 | 174 | 1,580 | 1,450 | 1,348 | 1,402 | 1,398 | 1,471 | 1,559 |
Gross Block | 22 | 52 | 53 | 47 | 243 | 1,693 | 1,676 | 1,673 | 1,597 | 1,586 | 1,683 | â |
Accumulated Depreciation | 8 | 25 | 40 | 42 | 69 | 114 | 225 | 326 | 195 | 188 | 212 | â |
CWIP | 2 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
Investments | 634 | 747 | 251 | 1,237 | 2,540 | 524 | 2,506 | 5,136 | 12,694 | 19,372 | 25,873 | 27,259 |
Other Assets | 33 | 227 | 177 | 270 | 774 | 881 | 4,792 | 11,017 | 7,831 | 3,555 | 8,507 | 9,034 |
Total Assets | 683 | 1,002 | 442 | 1,513 | 3,489 | 2,985 | 8,748 | 17,501 | 21,927 | 24,325 | 35,851 | 37,853 |
Standalone Figures in âš Crores / Yearly
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | â | â | â | â | â | -2,074 | -281 | -509 | 224 | 1,379 | 1,614 |
Cash from Investing Activity | â | â | â | â | â | 1,646 | -6,115 | -8,129 | -381 | -1,301 | -9,752 |
Cash from Financing Activity | â | â | â | â | â | 362 | 6,474 | 8,763 | -14 | -20 | 8,388 |
Net Cash Flow | â | â | â | â | â | -66 | 79 | 126 | -171 | 58 | 250 |
Standalone Figures in âš Crores / Yearly
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 41 | 24 | 35 | 19 | 20 | 21 | 26 | 17 | 5 | 4 | 5 |
Inventory Days | â | â | â | â | â | â | â | â | â | â | â |
Days Payable | â | â | â | â | â | â | â | â | â | â | â |
Cash Conversion Cycle | 41 | 24 | 35 | 19 | 20 | 21 | 26 | 17 | 5 | 4 | 5 |
Working Capital Days | -5 | 1 | 55 | -12 | 12 | -13 | 116 | 365 | 277 | 42 | 65 |
ROCE % | â | -37% | -92% | -6% | -100% | -118% | -9% | -11% | 0% | 6% | 7% |
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Stock Analysis
Eternal Limited (formerly Zomato) is a leading online food service platform in India, offering food delivery and dining-out services across over 800 cities.
The company's growth is driven by its extensive food delivery network and strategic expansion in the quick commerce sector, focusing on customer experience and operational efficiency.
Currently no data available for Order Book.
The company is facing significant ongoing tax litigation, with multiple Goods and Services Tax (GST) demands and penalties totaling several hundred crores. Management believes the case has merit and intends to appeal, expecting no material financial impact.
Corporate Announcements
