Zomato to Nykaa: 4 retail-tech stocks in focus as India's retail market eyes Rs 215 trillion by 2035
Q3 FY26 prints show Eternal revenue up 201.9% YoY to Rs 16,315 crore and Nykaa net profit up 156% to Rs 68 crore on 45.2% gross margins. With Nykaa at 276 stores across 94 cities and quick-commerce nearing breakeven, retail-tech enablers ride a market projected to hit Rs 215 trillion.
Analysis of four Indian retail-tech enablers—Eternal/Zomato, Nykaa, Delhivery, IndiaMART—amid a projected Rs 215 trillion retail market by 2035, detailing Q3 FY26 earnings, quick commerce breakeven, store additions, and share performance.
Why this matters
Eternal's 201.9% YoY revenue surge alongside Nykaa's 156% profit jump signals retail-tech enablers scaling into a Rs 215 trillion market, with quick-commerce approaching breakeven.
Retail-company signals accelerating, up 733900% QoQ.