Eternal share price jumps 7% on strong Q3 show; Brokerages bullish—Check targets

Eternal share price: Eternal Ltd shares opened strong on Thursday, soaring over 7 per cent following the company’s December quarter (Q3 FY26) results. The stock was trading at Rs 291.60, up Rs 8.20 or 2.89 per cent, at around 9:25 AM, after early profit booking trimmed initial gains.

The company reported a robust 73 per cent year-on-year rise in net profit for Q3, driven by strong performance in Blinkit and sustained momentum in its quick commerce business.

Q3 Results highlights

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Eternal reported a consolidated net profit of Rs 102 crore for the October–December quarter of FY26, a jump of 73 per cent year-on-year, compared with Rs 59 crore in the same period last year. The sharp rise in profitability came amid strong operating leverage and improving margins across key segments.

Revenue from core operations surged 201 per cent to Rs 16,315 crore in Q3 FY26, up from Rs 5,405 crore a year ago, reflecting scale-up in quick commerce and higher order volumes.

Quick commerce remains the key growth engine

The company’s quick commerce arm continued to deliver strong growth. Net Order Value (NOV) rose 121 per cent year-on-year and 14 per cent quarter-on-quarter, despite challenges such as GST changes and seasonal softness during the quarter.

Blinkit also marked a key milestone on profitability. Adjusted EBITDA margin, calculated as a percentage of NOV, turned positive for the first time on a quarterly basis. Eternal reported an adjusted EBITDA profit of Rs 4 crore, compared with an adjusted EBITDA loss of Rs 156 crore in the previous quarter.

Leadership change at the top

Alongside the strong financial performance, Eternal informed exchanges that founder Deepinder Goyal has resigned as Managing Director and Chief Executive Officer. His resignation will be effective from 1 February 2026.

Following this, Goyal will be appointed as Vice Chairman and Director of Eternal, subject to shareholder approval, according to the company’s filing.

Eternal Share price target 2026

Brokerages remained positive on the stock after the results and leadership update.

Nomura maintained a ‘Buy’ rating on Eternal Ltd with a target price of Rs 380, raised from Rs 370. CLSA also reiterated its ‘Buy’ call and increased its target to Rs 506 from Rs 483. Goldman Sachs maintained a ‘Buy’ with a revised target of Rs 380, up from Rs 375, while Jefferies retained its ‘Buy’ rating with a target of Rs 480.

Brokerages said core profits grew 29 per cent year-on-year, led by higher margins and lower costs. Blinkit’s move to positive EBITDA came at a time when competitive intensity in quick commerce appears close to its peak. Higher average order value, better product mix, a shift towards first-party inventory and benefits from past investments supported margins.