Four retail-tech stocks in focus as India's retail market races toward Rs 215 trillion by 2035
Eternal (Zomato) leads a pack of retail-tech enablers, posting Q3 FY26 revenue of Rs 16,315 crore (up 201.9% YoY) and Rs 102 crore net profit alongside quick-commerce breakeven and 200+ net new stores. Nykaa, Delhivery and IndiaMART round out the watchlist as a BCG-RAI outlook projects a Rs 215 trillion market.
India's retail market projected to hit Rs 215 trillion by 2035 (BCG-RAI). Article profiles four retail-tech enablers: Eternal/Zomato (Q3 FY26 revenue Rs 16,315 cr, quick commerce breakeven, 200+ new stores), Nykaa, Delhivery, and IndiaMART.
Why this matters
Eternal leads a cohort of retail-tech enablers positioned to capture India's projected Rs 215 trillion retail market, with quick-commerce breakeven signaling a shift toward profitability.
Retail-company signals are accelerating, up 733500% QoQ.