Eternal Management Guidance Tracker

8 forward-looking guidance items tracked across 2 quarters.

Growth

Q3 FY26Blinkit 100%+ YoY growth contingent on rational competitionActive

Management stated that achieving 100%+ YoY growth in Blinkit requires 3,500-4,000 stores and rational competitive environment.

Q4 FY26Quick Commerce 60% GOV CAGR over 3 yearsTracked

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.

Q4 FY26Food delivery growth reinvestmentActive

Management plans to reinvest incremental margins from food delivery into growth to optimize absolute profit, rather than focusing on margin percentage.

Margins

Q3 FY26Blinkit long-term EBITDA margin of 5-6% of NOVTracked

Management reiterated high confidence in Blinkit achieving 5-6% EBITDA margin on NOV in the long term, supported by city-level data.

Q4 FY26Quick commerce margin target of 5-6%Tracked

Blinkit aims to achieve a 5-6% contribution margin over the medium term, with NCR already at that level.

Other

Q3 FY26Going-out losses to decline sequentially towards break-even in 4-6 quartersActive

Management expects losses in the going-out business to reduce sequentially from Q3 and reach break-even in the next 4-6 quarters.

Capex

Q3 FY26Blinkit capex per store to increase due to automation and larger store sizesActive

Capex per store is expected to rise as the company invests in automation, larger store formats, and supply chain infrastructure.

Expansion

Q4 FY263,000 dark stores by March 2027Tracked

Management confirmed they are on track to reach 3,000 dark stores by March 2027, though no specific quarterly guidance was given.