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Joindre Capital rates Eternal Buy with ₹390 target as Blinkit's long-term margin guidance moves to around 6%

Our read

Eternal more likely than not keeps its Blinkit margin guidance intact, but reaching ₹390 depends on rival discounting staying contained.

For operators

Management lifting Blinkit's long-term adjusted EBITDA margin guidance to around 6% from 5–6% suggests quick commerce unit economics can hold up at scale, so rival dark-store and delivery operators will be benchmarked against that margin while competition stays the flagged risk.

Watch

Eternal's close below the ₹323.35 of 9 October at the next results would mean competition is outweighing Blinkit's around 6% margin guidance.

The report,

Joindre Capital rated Eternal Buy with a ₹390 target, implying 22.1% upside. It cited management raising Blinkit's long-term adjusted EBITDA margin guidance to around 6% from 5–6%, and flagged quick commerce competition as the key risk.

Blinkit's long-term adjusted EBITDA margin guidance moves to around 6% from 5–6%
Earlier Blinkit long-term adj. EBITDA margin guidance5–6%
Current Blinkit long-term adj. EBITDA margin guidancearound 6%

07:30 IST · 10 moves · what each means · free

Reported figures

From the report. Source details below

Eternal BSE close on Friday, October 9: ₹323.35

What to watch next

  • Blinkit adjusted EBITDA margin trend in the next quarterly results
  • Discount and free-delivery thresholds at rival quick-commerce apps
  • Other brokers' target changes on Eternal after the results
  • Any change to management's long-term Blinkit margin wording

The source

Source Read the source at Mint Published

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