Eternal Ltd — earnings calls
2 quarters summarised from transcripts filed with the exchange, every statement cited. Newest first.
Management discussed quarterly performance across Blinkit, food delivery, Bistro, and District, focusing on competitive intensity, margin trajectory, and store economics. Executives raised the long-term quick commerce EBIT margin guidance and described competition as more predictable, tied mainly to grocery subsidies. They also detailed cohort spending patterns, capex per store assumptions, and working capital days, while declining to comment on next-quarter volume growth.
Management discussed a three-year guidance of 60% CAGR for quick commerce NOV growth alongside a quick commerce margin path toward 5-6%, and confirmed the company remains on track for 3,000 dark stores by March. Executives said food delivery order growth was around 15-20% year-on-year while quick commerce order growth was above 90%, and addressed questions on contribution margin, competitive intensity, and ad monetization. Management also discussed customer retention trends, inventory days after the shift to a 1P model, and the approach to platform fees and targeted discounting.