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Last Updated: April 2, 2026, 4:08 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543320 | NSE: ETERNAL

Zomato Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹439.78Undervalued by 85.56%vs CMP ₹237.00

P/E (988.0) × ROE (1.7%) × BV (₹31.90) × DY (2.00%)

₹169.68Overvalued by 28.41%vs CMP ₹237.00
MoS: -39.7% (Negative)Confidence: 56/100 (Moderate)Models: 1 Under, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹539.9530%Under (+127.8%)
Graham NumberEarnings₹13.4018%Over (-94.3%)
DCFCash Flow₹2.4114%Over (-99%)
Net Asset ValueAssets₹32.0010%Over (-86.5%)
EV/EBITDAEnterprise₹12.2112%Over (-94.8%)
Earnings YieldEarnings₹2.5010%Over (-98.9%)
Revenue MultipleRevenue₹21.027%Over (-91.1%)
Consensus (7 models)₹169.68100%Overvalued
Key Drivers: P/E of 988 makes PE-ROE unreliable — asset/earnings models are better benchmarks. | ROE 1.7% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 22.8%

*Investments are subject to market risks

Investment Snapshot

51
Zomato Ltd scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 2.7% WeakROE 1.7% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money45/100 · Moderate
FII holding down -8.12% (6mo) SellingDII holding up 9.14% MF buying
Earnings Quality65/100 · Strong
OPM expanding (-31% → 2%) Improving
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +139% YoY AcceleratingProfit (4Q): -65% YoY Declining
Industry Rank30/100 · Weak
P/E 988.0 vs industry 194.9 Premium to peersROCE 2.7% vs industry 9.7% Below peersROE 1.7% vs industry 11.0% Below peers3Y sales CAGR: 69% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Zomato Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
50/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 988.0 vs Ind 194.9 | ROCE 2.7% | ROE 1.7% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 8.02x | Borrow/Reserve 0.11x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹527 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -2.80 pp | DII +2.57 pp | Prom N/A
Business Momentum
+88
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +20.1% | Q NP +56.9% | Q OPM 0.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-28.4%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.11xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-2.80 ppLatest FII% minus previous FII%
DII Change+2.57 ppLatest DII% minus previous DII%
Promoter ChangeN/ALatest promoter% minus previous promoter%
Shareholder Count Change+2,734Latest shareholder count minus previous count
Quarterly Sales Change+20.1%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+56.9%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change0.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:08 am

Market Cap 2,28,250 Cr.
Current Price 237
Intrinsic Value₹169.68
High / Low 368/190
Stock P/E988
Book Value 31.9
Dividend Yield0.00 %
ROCE2.66 %
ROE1.71 %
Face Value 1.00
PEG Ratio43.38

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Zomato Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Zomato Ltd 2,28,250 Cr. 237 368/190988 31.90.00 %2.66 %1.71 % 1.00
FSN E-Commerce Ventures Ltd 68,709 Cr. 240 286/160454 4.850.00 %9.59 %5.16 % 1.00
Cartrade Tech Ltd 8,408 Cr. 1,756 3,291/1,36241.0 4870.00 %7.59 %6.24 % 10.0
Nandani Creation Ltd 52.4 Cr. 27.4 51.0/24.431.9 33.50.00 %11.2 %7.85 % 10.0
Add-Shop E-Retail Ltd 17.6 Cr. 6.21 12.0/5.5716.6 40.00.00 %4.26 %3.03 % 10.0
Industry Average101,789.00 Cr268.67194.9092.790.00%9.70%10.97%8.00

All Competitor Stocks of Zomato Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,9482,0562,4162,8483,2883,5624,2064,7995,4055,8337,16713,59016,315
Expenses 2,3142,2822,4642,8953,2373,4764,0294,5735,2435,7617,05213,35115,947
Operating Profit -366-226-48-47518617722616272115239368
OPM % -19%-11%-2%-2%2%2%4%5%3%1%2%2%2%
Other Income 173171181212219235236221252368354352348
Interest 161518161820253043566786107
Depreciation 155134130128128140149180247287314376439
Profit before tax -364-204-15211241612392371249788129170
Tax % -5%-8%-113%-71%-11%-9%-6%26%52%60%72%50%40%
Net Profit -347-18823613817525317659392565102
EPS in Rs -0.41-0.220.000.040.160.200.290.200.060.040.030.070.11

Last Updated: February 3, 2026, 3:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 15, 2026, 10:36 pm

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4661,3132,6051,9944,1927,07912,11420,24342,905
Expenses 5583,5564,9092,4616,0438,29012,07119,59542,111
Operating Profit -92-2,243-2,305-467-1,851-1,21143648794
OPM % -20%-171%-88%-23%-44%-17%0%3%2%
Other Income 211,28516-2007936828461,0661,422
Interest 691310124972154316
Depreciation 2943841381504375268631,416
Profit before tax -107-1,010-2,386-815-1,220-1,015291697484
Tax % 0%0%0%0%0%-4%-21%24%
Net Profit -107-1,010-2,386-816-1,222-971351527231
EPS in Rs -3,070.18-28,574.18-70,096.54-23,123.76-1.54-1.140.400.550.25
Dividend Payout % 0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-843.93%-136.24%65.80%-49.75%20.54%136.15%50.14%
Change in YoY Net Profit Growth (%)0.00%707.69%202.04%-115.56%70.30%115.61%-86.01%

Zomato Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2018-2019 to 2024-2025.

Growth

Last Updated: September 5, 2025, 2:26 pm

Balance Sheet

Last Updated: December 4, 2025, 2:25 am

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.030.030.030.00764836868907910
Reserves 1,0362,3564577,64415,74118,62419,54529,41029,912
Borrowings 186348326527705077492,0453,351
Other Liabilities 1527092,1175327511,6322,1943,2613,942
Total Liabilities 1,3743,4132,9008,70417,32721,59923,35635,62338,115
Fixed Assets 1903891,5911,5391,4046,3446,4489,53211,083
CWIP 1110171851116
Investments 8292,1453242,2054,7186,76511,64513,19214,758
Other Assets 3548799854,95911,2048,4835,24512,84812,158
Total Assets 1,3743,4132,9008,70417,32721,59923,35635,62338,115

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -2,144-1,018-693-844646308
Cash from Investing Activity + 1,740-5,245-7,971797-348-7,993
Cash from Financing Activity + 3596,4028,750-127-2078,042
Net Cash Flow -4513986-17491357
Free Cash Flow -2,165-1,028-750-945444-623
CFO/OP 92%222%36%67%1,747%66%

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-278.00-350.00-328.00-994.00-71.00-508.00-706.00646.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 2020172414242435
Inventory Days 2828221112
Days Payable 565298178112101
Cash Conversion Cycle 202017-513-257-132-77-54
Working Capital Days -43-31-20963162004145
ROCE %-115%-135%-12%-13%-6%1%3%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
FIIs 54.61%54.43%54.72%54.88%55.11%54.11%52.53%47.31%44.36%42.34%39.04%36.24%
DIIs 8.04%9.93%13.04%15.47%15.28%15.79%17.32%20.51%23.47%26.49%30.04%32.61%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.10%0.10%0.10%0.10%
Public 35.15%33.56%30.42%27.98%28.05%28.64%28.86%26.09%26.08%25.17%25.12%25.47%
Others 2.22%2.09%1.82%1.66%1.58%1.45%1.27%6.07%5.98%5.91%5.71%5.58%
No. of Shareholders 19,10,05817,10,36817,08,10017,27,99619,16,41621,40,94223,56,30825,20,80427,91,93024,99,81322,68,44122,71,175

Shareholding Pattern Chart

No. of Shareholders

Zomato Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Midcap Fund 87,473,898 6.4 2154.4886,225,8272026-03-12 00:38:561.45%
Kotak Flexicap Fund 64,000,000 2.77 1576.3263,000,0002025-12-15 01:57:471.59%
HDFC Flexi Cap Fund 60,709,961 1.49 1495.29N/AN/AN/A
UTI Flexi Cap Fund 47,670,000 5.13 1174.1147,400,0002026-02-23 07:12:100.57%
ICICI Prudential Balanced Advantage Fund 45,420,203 1.57 1118.741,356,0222026-03-23 08:17:199.83%
HDFC Balanced Advantage Fund 43,965,593 1.01 1082.8739,965,5932026-03-24 01:56:1910.01%
Mirae Asset Large Cap Fund 40,264,050 2.47 991.740,256,2442026-03-23 08:17:190.02%
HDFC Mid Cap Fund 35,950,392 0.94 885.46N/AN/AN/A
Kotak Large & Midcap Fund 35,000,000 2.81 862.05N/AN/AN/A
Kotak Midcap Fund 33,694,705 1.35 829.9N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 0.600.41-1.20-1.67-1.51
Diluted EPS (Rs.) 0.580.40-1.20-1.67-1.51
Cash EPS (Rs.) 1.531.01-0.63-1.40-21893.03
Book Value[Excl.RevalReserv]/Share (Rs.) 33.4323.5123.2621.59246389.58
Book Value[Incl.RevalReserv]/Share (Rs.) 33.4323.5123.2621.59246389.58
Revenue From Operations / Share (Rs.) 22.3213.968.465.4964315.77
PBDIT / Share (Rs.) 1.891.02-0.63-1.77-11049.42
PBIT / Share (Rs.) 0.930.41-1.15-1.97-15492.77
PBT / Share (Rs.) 0.760.33-1.21-1.60-26294.32
Net Profit / Share (Rs.) 0.580.40-1.16-1.60-26336.39
NP After MI And SOA / Share (Rs.) 0.580.40-1.16-1.58-26219.87
PBDIT Margin (%) 8.467.33-7.46-32.34-17.17
PBIT Margin (%) 4.202.99-13.64-35.92-24.08
PBT Margin (%) 3.442.40-14.32-29.11-40.88
Net Profit Margin (%) 2.602.89-13.71-29.16-40.94
NP After MI And SOA Margin (%) 2.602.89-13.72-28.83-40.76
Return on Networth / Equity (%) 1.731.71-4.99-7.32-10.63
Return on Capital Employeed (%) 2.631.70-4.79-9.06-5.86
Return On Assets (%) 1.471.50-4.49-6.97-9.33
Asset Turnover Ratio (%) 0.680.530.360.320.29
Current Ratio (X) 3.522.627.5210.608.02
Quick Ratio (X) 3.472.587.4610.557.99
Inventory Turnover Ratio (X) 153.360.000.000.000.00
Interest Coverage Ratio (X) 11.1312.35-10.86-112.99-33.97
Interest Coverage Ratio (Post Tax) (X) 4.425.88-18.93-125.68-47.77
Enterprise Value (Cr.) 179139.50157541.8041639.8461319.790.00
EV / Net Operating Revenue (X) 8.8513.005.8814.630.00
EV / EBITDA (X) 104.52177.21-78.74-45.220.00
MarketCap / Net Operating Revenue (X) 9.0313.076.0215.000.00
Price / BV (X) 6.037.752.193.810.00
Price / Net Operating Revenue (X) 9.0313.076.0215.000.00
EarningsYield 0.000.00-0.02-0.010.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Eternal Ltd. is a Public Limited Listed company incorporated on 18/01/2010 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L93030DL2010PLC198141 and registration number is 198141. Currently Company is involved in the business activities of Other information service activities. Company's Total Operating Revenue is Rs. 8617.00 Cr. and Equity Capital is Rs. 907.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
E-Commerce - Electronics/Food/OthersGround Floor, 12A, 94 Meghdoot, New Delhi Delhi 110019Contact not found
Management
NamePosition Held
Mr. Kaushik DuttaChairman & Ind.Director
Mr. Deepinder GoyalManaging Director & CEO
Mr. Sanjeev BikhchandaniNon Executive Director
Ms. Aparna Popat VedIndependent Director
Ms. Sutapa BanerjeeIndependent Director
Ms. Namita GuptaIndependent Director

FAQ

What is the intrinsic value of Zomato Ltd and is it undervalued?

As of 05 April 2026, Zomato Ltd's intrinsic value is ₹169.68, which is 28.41% lower than the current market price of ₹237.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (1.71 %), book value (₹31.9), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Zomato Ltd?

Zomato Ltd is trading at ₹237.00 as of 05 April 2026, with a FY2026-2027 high of ₹368 and low of ₹190. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,28,250 Cr..

How does Zomato Ltd's P/E ratio compare to its industry?

Zomato Ltd has a P/E ratio of 988, which is above the industry average of 194.90. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Zomato Ltd financially healthy?

Key indicators for Zomato Ltd: ROCE of 2.66 % is on the lower side compared to the industry average of 9.70%; ROE of 1.71 % is below ideal levels (industry average: 10.97%). Dividend yield is 0.00 %.

Is Zomato Ltd profitable and how is the profit trend?

Zomato Ltd reported a net profit of ₹527 Cr in Mar 2025 on revenue of ₹20,243 Cr. Compared to ₹-1,222 Cr in Mar 2022, the net profit shows an improving trend.

Does Zomato Ltd pay dividends?

Zomato Ltd has a dividend yield of 0.00 % at the current price of ₹237.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Zomato Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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