Eternal reports second-quarter profit miss: ICICI sets INR 425 target for Eternal stock

Published on 10/22/2026 at 11:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue reached INR 24,138 crore in Q2 FY27, up 77.60 percent year over year. For Eternal stock, profit was INR 1.25 billion against INR 2.71 billion consensus.

Profit and growth drivers

Eternal reported INR 125 crore profit for the quarter ended September 30, 2026.
Revenue reached INR 24,138 crore in the second quarter of fiscal year 2026-27.
ICICI Securities set an INR 425 target for Eternal on October 22, 2026.

Eternal, INE758T01015, Illustration mit AI erstellt.

Eternal (ISIN INE758T01015) reported INR 125 crore in consolidated net profit for the quarter ended September 30, 2026, up 92.30 percent from the year-earlier period, but the result missed the INR 271 crore consensus. Business Standard reported the figures on October 21, 2026.

Revenue expands as profit misses

Revenue from operations rose 77.60 percent year over year to INR 24,138 crore in the second quarter of fiscal year 2026-27, compared with INR 13,590 crore a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization increased 197.00 percent year over year to INR 666 crore, while cash fell to INR 16,475 crore from INR 18,288 crore in the first quarter.

The result showed a clear split between scale and profitability. Blinkit's net order value increased 79.30 percent to INR 20,940 crore, while food-delivery net order value rose 21.50 percent to INR 11,445 crore. Total expenses also climbed 74.90 percent year over year to INR 24,166 crore, helping explain the earnings shortfall, according to Business Standard.

Three events shape the year

On October 7, 2026, ICICI Securities raised its target from INR 360 to INR 425 while retaining a Buy rating, according to DSIJ. On October 21, 2026, Eternal reported second-quarter revenue of INR 24,138 crore and net profit of INR 125 crore. On October 21, 2026, the company also detailed Dark.ai, an encrypted artificial intelligence service planned for global launch by the end of 2026, as reported by Business Standard.

What does the target imply?

ICICI Securities' INR 425 target is supported by Blinkit's expansion and food delivery growth, but the second-quarter profit miss highlights the cost of that expansion. Blinkit added 308 stores during the quarter, taking its network to 2,751, while its adjusted EBITDA reached INR 184 crore. The company expects to cross 3,500 stores by March 2027, according to Moneycontrol.

Stock value and trading context

Eternal was trading at INR 304.80 on the NSE on October 22, 2026 at 3:09 p.m. IST. Its market capitalization was INR 2.8 trillion, and the 52-week range was INR 212.60 to INR 344.40 on the same date. The figures place the stock below its annual high while the latest earnings keep attention on the balance between rapid store additions and profitability.