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Zomato joins Nifty 50 in index reshuffle

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Zomato joins Nifty 50 in index reshuffle
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Zomato joins Nifty 50 in index reshuffle In December 2024, the Deepinder Goyal-led company made history as the first new-age tech company to join the Bombay Stock Exchange (BSE) Sensex 30. In a major reshuffle of the Nifty 50 index, Zomato and Jio Financial Services will replace Britannia Industries and Bharat Petroleum Corporation Limited (BPCL). This adjustment is set to take effect on March 31, 2025. The National Stock Exchange (NSE) determines such periodic rebalancing based on the average free-float market capitalization of companies over a six-month period, spanning from August 1 to January 31. This is a major milestone for new-age tech companies in India. As per a report by JM Financial, Zomatoโ€™s addition could bring in inflows of around $620 million, impacting nearly 226.6 million shares and influencing trading volumes for approximately 3.8 days. In December 2024, the Deepinder Goyal-led company made history as the first new-age tech company to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in the benchmark index of Indiaโ€™s top 30 companies. The Nifty Next 50 index is also set for a major reshuffle, with the inclusion of seven new stocks: Bajaj Housing, BPCL, Britannia, CG Power, Hyundai Motor India, Indian Hotels, and Zomatoโ€™s rival Swiggy. These companies will replace Adani Total Gas, BHEL, IRCTC, Jio Financial, NHPC, Union Bank, and Zomato. The Nifty Next 50 Index serves as a benchmark, representing the top 50 companies ranked between 51 and 100 based on market capitalization on the National Stock Exchange (NSE).

Metalbook nears Rs 800 Cr gross revenue in FY24

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Metalbook nears Rs 800 Cr gross revenue in FY24
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Full-stack metal supply-chain platform Metalbook recorded nearly Rs 800 crore of gross revenue for the fiscal year ended March 2024. However, its losses surged over two-fold in the same period. Metalbookโ€™s gross revenue, known as gross merchandise value (GMV), surged 76% to Rs 796 crore in FY24 from Rs 452 crore in FY23, according to its financial statement sourced from the Registrar of Companies (RoC). Founded in 2021, Metalbook is a full-stack procurement platform that helps businesses, including SMEs, with inventory liquidation, logistics, and credit, among others. It claims to work with over 500 manufacturers, dealers, and suppliers, including ArcelorMittal Nippon Steel, Tata Steel, and JSW, across 16 countries. These services were the only source of revenue for the Gurugram-based company in FY24. The firm also made an additional Rs 2.5 crore from interest on deposits and investments, which pushed its total income to Rs 799 crore in FY24. For the supply chain platform, the cost of procurement of materials was the companyโ€™s largest cost center, accounting for 96% of the overall expenditure. This cost surged by 75.34% to Rs 782 crore in FY24. Employee benefit expenses jumped 90.48% to Rs 16 crore. Provisions for bad debts stood at Rs 3.7 crore, while other expensesโ€”including legal, technology, and travelโ€”contributed Rs 14.3 crore. These factors drove total expenses up by 77.78% to Rs 816 crore in FY24. Despite the 76% growth in scale, Metalbookโ€™s loss spiked by 2.8 times to Rs 17 crore in FY24 from Rs 6 crore in FY23. Its return on capital employed (ROCE) and EBITDA margin stood at -9.65% and -1.27% respectively. On a unit basis, the company spent Rs 1.03 to earn a rupee of gross revenue in FY24. The Delhi-based companyโ€™s current assets stood at Rs 193 crore, which includes Rs 61 crore of cash and bank balance in the previous fiscal year. According to TheKredible, Metalbook has raised $23 million of funding to date. Axilor, Foundamental, and RTP Global are the major investors who hold 13.55%, 8.23%, and 5.81% of the company respectively.

Zomato board approves renaming company to โ€˜Eternalโ€™

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Zomato board approves renaming company to โ€˜Eternalโ€™
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Zomato board approves renaming company to โ€˜Eternalโ€™ Food tech major Zomato has received board approval to change its legal name from โ€˜Zomato Ltdโ€™ to โ€˜Eternal Ltd.โ€™ On February 6th, Zomatoโ€™s board approved a resolution to rename the company from โ€˜Zomato Limitedโ€™ to โ€˜Eternal Limited,โ€™ according to a regulatory filing sourced from the National Stock Exchange. โ€œWhen we acquired Blinkit, we started using โ€œEternalโ€ (instead of Zomato) internally to distinguish between the company and the brand/app. We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there. We would like to rename Zomato Ltd., the company (not the brand/app), to Eternal Ltd,โ€ said Deepinder Goyal, founder and CEO of Zomato. Goyal added that the companyโ€™s corporate website will transition from zomato.com to eternal.com. Additionally, its stock ticker will change from ZOMATO to ETERNAL. As of now, Eternal will comprise four major businesses: Zomato, Blinkit, District, and Hyperpure. The development comes weeks after Zomatoโ€™s quarterly results and a couple of months after its $1 billion fundraise via QIP. The Gurugram-based companyโ€™s revenue from operations surged 64.4% to Rs 5,405 crore in Q3 FY25, compared to Rs 3,288 crore in Q3 FY24. However, its profit took a hit, slipping 57.2% YoY to Rs 59 crore during the period. Meanwhile, the company re-entered the 10โ€“15 minute food delivery space and invested Rs 500 crore in its quick commerce subsidiary, Blinkit. Zomato also made history as the first new-age Indian tech company to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in Indiaโ€™s benchmark index of the top 30 companies.

Zomato becomes first Indian startup to enter Sensex 30

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Zomato becomes first Indian startup to enter Sensex 30
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Foodtech giant Zomato has made history as the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited in the benchmark index of Indiaโ€™s top 30 companies. Zomato's inclusion in the SENSEX follows its strong performance over the past year. The stock has gained 38% in the past six months, 124.79% year-to-date, and 114.29% over the last year. On Monday, following its inclusion in the Sensex 30, Zomato's stock declined by 3.15% (as of 12:28 PM) to Rs 278.70 on the Bombay Stock Exchange, with a total market capitalization of Rs 2.68 lakh crore (approximately $31.9 billion) During the second quarter of the ongoing fiscal year, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore from Rs 2,848 crore in Q2 FY24. The Gurugram-based company also recorded a 4.8X increase in net profit to Rs 176 crore in the quarter ending September. Its arch-rival Swiggy posted Rs 3,601 crore of revenue and a net loss of Rs 625 crore during the second quarter of the current fiscal year. The recently listed firm is currently traded at Rs 592.8 per share and has a total market capitalization of Rs 1,32,695 crore (around $15.8 billion). Zomato also secured $1 billion from qualified institutional investors (QIIs) last month. The money keeps the firm with enough powder for future investments, even as the stock will benefit from index investing now, even though the BSE Sensex remains a smaller representation of Indiaโ€™s investment opportunities than say, the 50 share NSE Nifty. For Zomato, the index inclusion is a massive vindication of its seemingly high risk approach, where it has simply refused to rest on laurels, always pushing the boundaries to seek a competitive edge. Be it the acquisition of Blinkit, edgy communication strategies, or the investments into other startups, the firm has done enough to justify the lofty valuations, and expectations from investors thus far. The recent fundraise has also underscored its readiness to invest and invest big where it sees a need to do so. The sensex inclusion has seemed like a logical move for the pioneering tech firm, and the big question on everyoneโ€™s minds will surely be- what next?

Zomato posts Rs 5,405 Cr revenue and Rs 59 Cr profit in Q3 FY25

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Zomato posts Rs 5,405 Cr revenue and Rs 59 Cr profit in Q3 FY25
Medial

Zomato posts Rs 5,405 Cr revenue and Rs 59 Cr profit in Q3 FY25 Zomatoโ€™s revenue from operations surged 64.4% to Rs 5,405 crore in Q3 FY25 in contrast to Rs 3,288 crore in Q3 FY24. The results showcase a decent growth in scale while the year-on-year (YoY) profits declined 57% during the period. Zomatoโ€™s revenue from operations surged 64.4% to Rs 5,405 crore in Q3 FY25 in contrast to Rs 3,288 crore in Q3 FY24, as per the firmโ€™s consolidated financial results sourced from the National Stock Exchange. Compared to the previous quarter (Q2 FY25) year, its operating revenue went up by 12.6% from Rs 4,799 crore. Zomato operates several units including a food marketplace platform connecting end users, restaurants, and delivery personnel. Hyperpure provides farm-to-fork supplies to restaurants and businesses while Blinkit offers kirana, FMCG, and other essentials within 10 minutes. The firm made 38.3% of its total operating revenue (Rs 2,072 crore) via the food ordering and delivery business. Collections from its Hyperpure supplies (B2B business) increased 13.4% to Rs 1,671 crore during the same period while the quick commerce vertical (Blinkit) contributed Rs 1,399 crore to the groupโ€™s coffers. The remaining income came from the โ€˜Going-outโ€™ segment and other operating activities during the quarter ending December 2024. Blinkitโ€™s revenue ramped up over 117% YoY from Rs 644 crore generated in Q3 FY24. Zomato also earned Rs 252 crore as non-operating income (mainly from interest and gains on financial assets) in Q3 FY25. As a result, its overall revenue reached Rs 5,657 crore during the period. Coming to expenses, delivery and related charges accounted for 26% in Q3 which registered at Rs 1,450 crore. The purchase of stock (after adjustment of changes in inventories) inclined to Rs 1,500 crore, while employee benefits cost was at Rs 689 crore during the quarter. Zomato also spent Rs 521 crore on and promotions, akin to which its total expenditure rose 63.6% YoY to Rs 5,533 crore in Q3 of FY25. Zomatoโ€™s profits slipped 57.2% YoY to Rs 59 crore in Q3. In the previous quarter (Q2 FY25), it booked Rs 176 crore in profits. On a unit level, the company spent Rs 1.02 to earn a rupee in Q3 of FY25. For the nine-month ended period (Apr-Dec 2025), Zomato recorded Rs 14,410 crore revenue from operations with a profit of Rs 488 crore. In December 2024, Zomato achieved a historic milestone by becoming the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30, replacing JSW Steel Limited. In the race for instant food delivery, a few days back, Zomato re-introduced a 15-minute food delivery service in select cities. The company also received a GST demand notice amounting to Rs 803 crore from the Thane Commissionerate in Maharashtra, related to the non-payment of GST on delivery charges, including interest and penalties. In the first week of January, Zomato was trading above Rs 250 when its foreign brokerage Jefferies downgraded Zomato from โ€œbuyโ€ to โ€œholdโ€ rating, citing competition in the quick commerce space. Following the rating, its price tumbled down under Rs 230, however, on the back of strong YoY growth, the company is regaining momentum as its price is at Rs 239.9 with a market cap of Rs 2,10,336 crore or $24.3 Bn. In December 2024, Zomato achieved its all-time high price at Rs 304.5 a share.

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