Blinkit 100%+ YoY growth contingent on rational competition
Management stated that achieving 100%+ YoY growth in Blinkit requires 3,500-4,000 stores and rational competitive environment.
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What management said would happen.
growth
Blinkit long-term EBITDA margin of 5-6% of NOV
Management reiterated high confidence in Blinkit achieving 5-6% EBITDA margin on NOV in the long term, supported by city-level data.
Going-out losses to decline sequentially towards break-even in 4-6 quarters
Management expects losses in the going-out business to reduce sequentially from Q3 and reach break-even in the next 4-6 quarters.
Blinkit capex per store to increase due to automation and larger store sizes
Capex per store is expected to rise as the company invests in automation, larger store formats, and supply chain infrastructure.
Quick Commerce 60% GOV CAGR over 3 years
Blinkit expects to grow gross order value at a 60% compound annual growth rate over the next three years, driven by assortment expansion, geographic diversification, and demand densification.
3,000 dark stores by March 2027
Management confirmed they are on track to reach 3,000 dark stores by March 2027, though no specific quarterly guidance was given.
Quick commerce margin target of 5-6%
Blinkit aims to achieve a 5-6% contribution margin over the medium term, with NCR already at that level.
Food delivery growth reinvestment
Management plans to reinvest incremental margins from food delivery into growth to optimize absolute profit, rather than focusing on margin percentage.