Eternal stock bounces back as Blinkit growth drives strong market recovery

Eternal shares have surged 71 percent from their March low of 212 rupees and 60 paise to close at 363 rupees on Monday, making the company the top recovery story among Nifty constituents in 2026. The stock started the year near a one-year low after falling in the first three months, but reversed trend in April and grew every month after that.

Growth and Expansion

Chief Financial Officer Akshant Goyal stated that the company does not expect any short-term margin drop from adding stores faster. Eternal aims to grow Blinkit's dark store count from 2,751 stores at the end of September to over 3,500 stores by March 2027 and about 5,000 stores by March 2028, with many new units coming up in smaller cities. Blinkit added 308 net new stores in the September quarter alone. Meanwhile, peer company Swiggy has seen its shares drop 51 percent in under 11 months after a 29 percent fall in 2025.

Earnings and Brokerage

Blinkit reported a net order value rise of 79.3 percent year-on-year to 20,940 crore rupees in the second quarter of fiscal year 2027. The quick-commerce business posted an adjusted EBITDA profit of 184 crore rupees, marking its sixth straight quarter of margin gains. Eternal's consolidated net profit nearly doubled to 125 crore rupees in the September quarter compared to 65 crore rupees a year ago. Domestic brokerages remain positive, with Kotak Neo giving a Buy rating and a target price of 435 rupees, while expecting a 63 percent revenue compound annual growth rate through fiscal 2029.

Context

Quick commerce companies rely heavily on neighborhood warehouses known as dark stores to deliver groceries and everyday items in minutes. Intense competition in this sector often involves heavy spending on store expansion and customer discounts, making profit margins a key watchpoint for investors.