Eternal (ETERNAL) — concall transcript

📢 Key Event
Blinkit targets 50%+ growth through new city expansion and cloud kitchens, not macro demand.

🔄 What Changed
Adjusted EBITDA breakeven target achieved; fixed cost growth slowed to 18% YoY vs 100% revenue growth.

🔮 What's Next
50%+ growth guidance for upcoming quarters; expansion to 30-40 cities; cloud kitchen dominance in new supply.

💡 Investor Takeaway
Growth is prioritized over dividends or buybacks, with cash reinvested into scalable infrastructure.

Eternal Ltd's Q3 FY24 concall transcript highlighted Blinkit's 100% YoY revenue growth outpacing 18% fixed cost growth, driving adjusted EBITDA breakeven progress. Management emphasized growth over margin, targeting 50%+ expansion via new city testing (30-40 cities) and cloud kitchens, with no near-term cash returns. Ad monetization and supply chain build-out support long-term scalability, while working capital remains structurally negative.

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About Eternal Ltd (ETERNAL)

Consumer Services · E-Commerce/App based Aggregator · Listed on BSE

Market Cap: ₹3,15,276.96 Cr P/E: 695.1 ROE: 1.4% ROCE: 4.1%

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"How will 50%+ growth be sustained beyond current 15-city base?" "What is the expected timeline for adjusted EBITDA breakeven?" "How does cloud kitchen utilization impact long-term unit economics?"

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🔥 Also filed on 31 December 2023

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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