JPMORGAN ON ETERNAL ; OVERWEIGHT | TP RAISED TO ₹420 FROM ₹390

• Quick commerce growth is accelerating despite rising competition. • Food delivery faces a growth-versus-margin trade-off. • Quick commerce margins expected to keep improving despite aggressive store expansion. • Eternal appears confident of sustaining at least 20% YoY food-delivery growth. • Food-delivery margins expected to remain broadly flat over the next 1–2 years.

ETERNAL LIMITED

← Back to feed