Fuel Hike a Manageable Headwind for Eternal, Swiggy: Per-Order Cost Up ₹0.44
Elara Capital pegs the recent ₹4/litre petrol hike as a near-term headwind for Eternal (Zomato) and Swiggy, lifting per-order fuel cost by ₹0.44 now and up to ₹1.2 if fuel rises ₹10/litre. FY27 EBITDA impact: 4-5% for Eternal, 10-12% for Swiggy. Eternal better placed to absorb.
What happened
Zomato (Eternal) · Elara Capital says recent petrol hike is a manageable near-term headwind for Eternal and Swiggy, with per-order fuel cost rising ₹0.44 now
Key facts
- ₹35-50 per order QC delivery cost
- ₹55-60 per order food delivery cost
- ₹4/litre fuel hike (~4%)
- ₹0.44 immediate per-order impact
- ₹1-1.2 per-order impact at ₹10/litre rise
- 4-5% FY27 EBITDA impact for Eternal
- 10-12% FY27 EBITDA impact for Swiggy
- EV/cycle usage 30-40% QC, 20% food delivery
Why this matters
Widening unit-economics gap under cost pressure strengthens Eternal's strategic optionality while raising the urgency for Swiggy to pursue scale-accretive partnerships or vertical integration in last-mile.