Eternal, Nykaa led retail-tech earnings as India's market races toward Rs 215 trillion by 2035, resurfacing a December 2025 report
Four listed retail-tech names—Eternal, Nykaa, Delhivery, IndiaMART—posted growth as India's retail market, worth Rs 90-95 trillion in 2025, heads to Rs 210-215 trillion by 2035, according to a report resurfacing from December 2025. Eternal revenue jumped 201.9% YoY to Rs 16,315 crore with quick commerce at breakeven; Nykaa lifted profit 156% and expanded gross margin to 45.2% across 276 stores in 94 cities.
Audit of four Indian retail-tech stocks—Eternal, Nykaa, Delhivery, IndiaMART—as India's retail market heads to Rs 215 trillion by 2035. Eternal's quick commerce hit breakeven; Nykaa expanded margins, added stores, and scaled owned brands and quick delivery.
Why this matters
Eternal's 201.9% revenue surge and quick-commerce breakeven anchor a broader retail-tech earnings wave, alongside Nykaa's 156% profit gain, as India's retail market scales toward Rs 215 trillion by 2035.
Retail-company signals accelerating at +841000% QoQ.