Dolat retains Sell on Eternal, sees nearly 30% downside despite Blinkit-led Q1 revenue beat
Dolat Capital kept its Sell call on Eternal with a ₹200 target price versus a ₹284 market price, citing weak profitability, elevated costs and sustained investment as Blinkit expands amid intense quick-commerce competition.
Dolat Capital retained a Sell rating on Eternal despite a Q1 revenue beat led by Blinkit. It cited weak profitability, higher costs and continued investment amid intense quick-commerce competition, while forecasting aggressive store expansion and sustained growth.
Why this matters
The call follows Eternal’s Q1 disclosures: profit fell 47% QoQ to ₹92 crore while Blinkit revenue surged, EBITDA turned positive and store count reached 2,443.
Retail-company signals are accelerating, up 1,022,200% QoQ.