Whalesbook
Q4 Ka Dhamaka Kisne Kiya?
Aakhir yeh Q4 ka badhiya performance aaya kahan se? Iska bada credit jaata hai Blinkit ko. Company ke quick commerce arm, Blinkit, ne kamaal kar diya. Iska Net Order Value (NOV) 95.4% badha. Sabse important baat yeh hai ki Blinkit ka EBITDA margin bhi positive ho gaya, jo pehle -0.3% tha, ab 0.3% ho gaya hai! Yani ₹37 Crore ka profit. Yeh sab inventory-led model aur store ke behtar use se hua hai, taaki unit economics sudhre.
Par haan, Blinkit ko JioMart aur Swiggy ke Instamart se kaafi takkar mil rahi hai. JioMart toh Reliance ke retail network ka fayda utha raha hai.
Zomato Ki Steady Performance
Ab baat karte hain Zomato ki, jo company ka main food delivery business hai. Yahan bhi steady growth dikhi. Zomato ka NOV 18.8% badha aur EBITDA margin bhi 5.5% par maintain raha. Matlab, mushkil times mein bhi company apna performance banae hue hai.
Valuation Pe Sawal?
Par, itni badhiya Q4 ke baad bhi, ek badi chinta hai – company ka valuation! Eternal Ltd. ka P/E ratio dekh kar toh sir chakkar khane lagta hai. Yeh 97.56 se lekar 1,000+ tak hai, jabki industry ka average toh sirf 21.14 ke aas-paas hai. Iska matlab hai ki investors company se bahut badi growth expect kar rahe hain, aur saal bhar profit kam hona is expectation par sawal khada karta hai. Company ka market cap bhi ₹2.44 lakh crore hai, jo bahut zyada lagta hai.
Competition Aur Risks
Overall market mein competition bahut tez hai, especially quick commerce mein. Swiggy bhi apna Swiggy One expand kar raha hai, jisse fees par pressure aa sakta hai. Investors ko kuch risk dhyan mein rakhne chahiye. Poore saal profit kam hona future mein margin pressure ya zyada kharch ka signal ho sakta hai. High P/E ratio stocks ko volatile banata hai. Competition ki wajah se companies ko lagatar invest karna padega, jo earnings ko affect kar sakta hai.
Analysts Abhi Bhi Bullish?
Lekin, sab kuch bura nahi hai. Analysts abhi bhi bullish hain. Jaise HDFC Securities ne 'Buy' rating dekar target ₹340 rakha hai. Investec ne bhi 'Buy' rating di hai aur target ₹375 diya hai. Aise lagbhag 30+ analysts is stock ko 'Buy' keh rahe hain, aur average target ₹359.06 ke aas-paas hai. Iska matlab hai ki short term mein 40% se zyada upside milne ki ummeed hai.