External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Overall, B2C NoV grew ~54% YoY (4.5% QoQ) to INR 268.8bn in Q4FY26 (in-line)</li><li>Eternal’s food delivery (FD) sustained its recovery momentum with NOV increasing 18.8% YoY to INR97.6bn (vs 16.6% in Q3, in-line), driven by strategic focus on improving affordability across select consumer cohorts FD adj</li><li>EBITDAM (as % of NoV) remained largely stable QoQ at 5.5% (HSIE: 5.6%), as improving revenue per order and operating efficiencies offset the shift toward lower value orders</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Overall, B2C NoV grew ~54% YoY (4.5% QoQ) to INR 268.8bn in Q4FY26 (in-line)Eternal’s food delivery (FD) sustained its recovery momentum with NOV increasing 18.8% YoY to INR97.6bn (vs 16.6% in Q3, in-line), driven by strategic focus on improving affordability across select consumer cohorts FD adjEBITDAM (as % of NoV) remained largely stable QoQ at 5.5% (HSIE: 5.6%), as improving revenue per order and operating efficiencies offset the shift toward lower value ordersContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Eternal (4QFY26 Results Review): FD Recovery Continues, Blinkit-Peers Gap Likely Rising.