Zepto edges past Instamart on orders but Blinkit's lead on scale and profit widens in Q4FY26
Zepto's updated DRHP shows 210M orders vs Instamart's 112.6M, but Blinkit dominates with 273.9M orders, Rs 14,386 cr NOV and +Rs 37 cr adj Ebitda. Zepto bleeds Rs 1,247 cr; Instamart Rs 858 cr. Flipkart Minutes adds 100 stores/month, Amazon Now targets 1,000 dark stores.
Zepto's updated DRHP shows it has overtaken Swiggy Instamart in order volume and value but trails Blinkit, which leads on scale and is the only profitable player. Flipkart Minutes and Amazon Now are scaling aggressively.