Eternal soared to an all-time high of ₹311.60 on July 22, boosting its market capitalization past ₹3 lakh crore (~$36 billion) and breaking into the top 5 most valuable Indian companies . This impressive milestone places it ahead of legacy giants like Wipro, Tata Motors, Nestlé India, Asian Paints, and Bharat Electronics
What Catalyzed the Rally?
- Stellar Q1 FY26 performance: Revenue surged 70% YoY to ₹7,167 cr, driven by quick commerce and food delivery, although net profit dropped 90% to ₹25 cr due to heavy strategic investments
- Blinkit’s breakout quarter: Net order value (NOV) jumped 127% YoY, overtaking food delivery for the first time. Quick commerce now leads Eternal’s B2C segments
- Analyst optimism: Brokerages like Jefferies raised price targets to ₹400, Emkay forecasts margin improvements, and Goldman maintains a strong stance The Economic Times
Valuation & Investor Impact
Eternal’s stock is up 41% in 2025, causing Deepinder Goyal’s 3.83% stake to surge by ₹2,000 crore in just two days—now worth over ₹11,500 croreAdditionally, Info Edge’s 12.38% shareholding is now valued at over ₹37,000 crore, constituting more than one-third of its own market cap
Broader Implications
- Top 5 company milestone: Eternal now ranks among the elite—Behind only Reliance, HDFC Bank, TCS, Bharti Airtel, and ICICI Bank on India’s most valuable list
- Quick commerce credentials: Blinkit’s explosive growth and margin recovery mark a turning point in the sector, validating Eternal’s pivot
- Market caution remains: Profit declines and aggressive valuation (PE ~455×) still concern analysts; sustained execution is crucial
Summary Table
| Metric | Value/Trend |
|---|---|
| Market Cap | ₹3 lakh cr (~$36B) — ranks 5th in India |
| Stock Performance in 2025 | +41% year-to-date |
| Q1 FY26 Revenue | +70% YoY to ₹7,167 cr |
| Q1 FY26 Net Profit | ₹25 cr (–90% YoY) |
| Blinkit NOV Growth | +127% YoY, supersedes food delivery |
| Deepinder Goyal’s stake value gain | +₹2,000 cr in two days |
| Info Edge stake valuation | ~₹37,226 cr (12.38% stake) |
Final Take
Eternal’s ascent to the top five underscores massive investor confidence in Blinkit’s dominance and Eternal’s diversified digital portfolio. However, margin recovery and profit rebounds remain the true tests ahead.
