Eternal clarifies Blinkit model as Goldman raises target for Eternal stock to INR 385
Published on 10/13/2026 at 09:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Eternal clarified on October 13, 2026 that Blinkit's business model had not materially changed after scrutiny of 10-minute delivery branding.
- Goldman Sachs raised its Eternal target to INR 385 from INR 345 on September 29, 2026 and retained a Buy rating.
- Eternal reported Q1 FY27 revenue of INR 202.11 billion, up 182 percent year over year, while Blinkit NOV rose 86 percent.
- Eternal was trading at INR 320.75 on the NSE on October 13, 2026, with a market capitalization of INR 3.0 trillion.
Eternal (INE758T01015) said on October 13, 2026 that Blinkit's business model had not materially changed after scrutiny of 10-minute delivery branding, while Goldman Sachs had raised its target for Eternal stock to INR 385 from INR 345 on September 29, 2026. The clarification and the higher target put operating scale and quick-commerce margins at the center of the stock's latest discussion.
Three dated operating signals
On June 30, 2026, Eternal reported Q1 FY27 revenue from operations of INR 202.11 billion, up 182 percent from INR 71.67 billion a year earlier, according to The Economic Times. Consolidated net profit reached INR 920 million, up 268 percent from INR 250 million in the year-ago quarter.
On September 29, 2026, The Economic Times reported that Goldman Sachs retained its Buy rating and raised the target to INR 385 from INR 345. The brokerage also projected a path toward USD 1.0 billion in earnings before interest, taxes, depreciation and amortization by fiscal 2029.
On October 13, 2026, The Economic Times reported that Eternal told the exchanges there was no material change to Blinkit's business model. The statement followed government pressure to remove 10-minute delivery promises from branding and advertising.
What Blinkit means for margins
Blinkit's Q1 FY27 net order value reached INR 171.32 billion, up 86 percent year over year, while the company added 200 net stores to reach 2,443. Adjusted earnings before interest, taxes, depreciation and amortization turned positive at INR 1.02 billion, compared with a loss of INR 1.62 billion in the year-ago quarter.
That comparison is important because the latest clarification addresses branding rather than a reported change in the operating model. The available operating figures show a faster expansion in order value than in store count, giving margin improvement a measurable role in the valuation case described by Goldman Sachs.
NSE valuation and trading context
Eternal was trading at INR 320.75 on the NSE on October 13, 2026 at 1:03 p.m. IST. The finance quote put market capitalization at INR 3.0 trillion, while the 52-week range was INR 212.60 to INR 368.45.
The current price stood INR 47.65 below the Goldman Sachs target of INR 385, a gap of 12.38 percent calculated against the target. Eternal's NSE listing identifies the company as part of the NIFTY 50 and classifies it in E-Retail and E-Commerce.
Eternal stock facts
- Company: Eternal Limited
- ISIN: INE758T01015
- Ticker: ETERNAL
- Primary exchange: NSE
- Market capitalization: INR 3.0 trillion (as of October 13, 2026)
- 52-week range: INR 212.60-368.45 (as of October 13, 2026)
- Sector / Industry: Communication Services / Internet Content and Information
- Index membership: NIFTY 50
Market context: Market report BSE Sensex.
