Executive Summary
The 17 filings from S&P BSE SENSEX 30 constituents reveal a mixed but dynamic landscape for the July 22, 2026 period. The most significant development is the explosive growth in India's quick commerce sector, led by Eternal Limited (formerly Zomato), which reported a staggering 182% YoY revenue surge to ₹20,211 crore, driven by its 1P model shift.
However, this growth is accompanied by a sharp 47% sequential profit decline, highlighting the heavy investment costs of scaling. In the IT sector, Tech Mahindra posted a solid 6.6% constant currency revenue growth with broad-based vertical performance, while TCS's study on Physical AI adoption in manufacturing reveals a sector at an inflection point—high intent but low deployment. Capital allocation patterns show prudent fund utilization (Eternal's QIP proceeds on track) and routine insider activity (M&M ESOP transfers, IndiGo option grants). Regulatory risks are minimal, with only a small penalty for Bharti Airtel. Overall, the portfolio is characterized by high-growth consumer tech facing margin pressures, resilient IT services, and stable large-cap industrials, with upcoming earnings calls for HUL, BEL, and NTPC providing near-term catalysts.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: Company update · Corporate governance
Tracking the trend? Catch up on the prior BSE Sensex 30 Stocks Regulatory Filings digest from July 14, 2026.
Investment Signals (10)
- Eternal Limited ↓ (BULLISH)▲
Revenue surged 182% YoY to ₹20,211 Cr, driven by quick commerce (₹15,664 Cr vs ₹2,400 Cr YoY). Food delivery NOV growth accelerated for 4 consecutive quarters to 20%+ YoY. Quick commerce (Blinkit) turned profitable with ₹102 Cr Adjusted EBITDA vs a ₹162 Cr loss last year.
- Tech Mahindra ↓ (BULLISH)▲
Q1 FY27 revenue of US$1.66 billion (+6.1% YoY reported, +6.6% constant currency) with operating margins of 14.4%. Manufacturing led with 17.2% YoY growth, BFSI grew 8.1%, and retail/travel/logistics 8.6%. Total deal wins were US$1.078 billion.
- Eternal Limited ↓ (BEARISH)▲
Profit after tax declined 47% sequentially to ₹92 Cr from ₹174 Cr in Q4 FY26, and basic EPS dropped to ₹0.10 from ₹0.19 QoQ. Total expenses rose to ₹20,314 Cr from ₹7,433 Cr YoY, with delivery charges at ₹3,150 Cr (up 69% YoY) and ad spend at ₹945 Cr (up 41% YoY).
- Eternal Limited (Nugget Business) ↓ (BEARISH)▲
The 'Others' segment (Bistro, Nugget) saw losses widen from ₹45 Cr to ₹94 Cr. Nugget business (revenue ₹7.20 Cr, 0.07% of total) was transferred to a subsidiary for ₹35 Cr, indicating a strategic pivot away from non-core experiments.
- HCL Technologies ↓ (BULLISH)▲
Partnered with TIM Brasil to deploy South America's first cross-platform eSIM transfer capability. HCLTech has $14.8B in trailing 12-month revenues and 223,000 employees. This is a high-visibility deal in a fast-growing telecom vertical.
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Study shows Physical AI is becoming mainstream in manufacturing—77% of manufacturers expect significant transformation in warehouse ops, 75% in assembly. 26% plan to increase investment, and no surveyed organization plans to reduce it. However, 68% remain in non-deployment or experimental stages. [BULLISH for AI adoption theme]
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No deviation in utilization of INR 8,436.12 Cr raised via QIP in Nov 2024. INR 6,352.94 Cr utilized as of June 30, 2026, with INR 2,083.18 Cr deployed in fixed deposits, corporate deposits, and government securities earning 4.45%-8.14%. All objects on schedule with completion expected by FY28. [BULLISH for execution discipline]
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Received a penalty of only ₹1,03,000 from DoT for subscriber verification violations—financially immaterial for a company of Airtel's size. Company opted not to contest, indicating low operational disruption. [NEUTRAL with no material impact]
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Infosys Foundation inaugurated an advanced mother and neonatal care wing at PGIMER, Chandigarh with a grant of over INR 147 Cr. While a CSR initiative, it enhances brand reputation and government relations, especially with PM Modi inaugurating. [NEUTRAL with positive brand signal]
- Mahindra & Mahindra ↓ (NEUTRAL)▲
Transferred 6,665 equity shares from ESOP Trust to 23 grantees—routine compliance. Largest transfer was 1,609 shares to Sanjay Chavan. No insider selling or buying signals from management.
Risk Flags (9)
- Eternal Limited/Profitability Risk↓ [HIGH RISK]▼
Consolidated PAT fell 47% QoQ despite 182% YoY revenue growth. Total comprehensive income swung to a loss of ₹5 Cr from a gain of ₹73 Cr in the prior-year quarter. The company faces GST show-cause notices and orders totaling ₹447 Cr, which it is contesting.
- Eternal Limited/Expense Growth↓ [MEDIUM RISK]▼
Total expenses grew 173% YoY to ₹20,314 Cr, outpacing revenue growth of 182%? No—expenses grew slightly slower (173% vs 182% revenue growth), but absolute levels are high. Delivery charges (₹3,150 Cr) and ad spend (₹945 Cr) are scaling rapidly. Quick commerce inventory losses are about 1.8% of NOV.
- Tech Mahindra/Communications Vertical Weakness↓ [MEDIUM RISK]▼
Communications segment grew only 1.3% YoY, significantly lagging other verticals (manufacturing 17.2%, BFSI 8.1%, retail 8.6%). This is a key vertical for many IT firms and may indicate sector-wide headwinds.
- Tata Consultancy Services/Physical AI Adoption Gap↓ [MEDIUM RISK]▼
While 77% of manufacturers expect transformation, 68% remain in non-deployment or experimental stages, and 44% lack formal accountability for AI failures. This gap between intent and execution could delay revenue realization for TCS's AI consulting.
- Eternal Limited/Going-Out Business Losses↓ [MEDIUM RISK]▼
The 'District' (going-out) business remained loss-making at -2.0% of NOV. Combined with 'Others' segment losses widening to ₹94 Cr, these non-core ventures are dragging profitability.
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The filing only announces an earnings call for July 28, 2026. No financial data, guidance, or performance metrics are provided, creating uncertainty until the call.
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The filing only announces a conference call for July 27, 2026. No Q1 FY27 results are shared, leaving investors in the dark until the call.
- InterGlobe Aviation/ESOP Dilution Risk↓ [LOW RISK]▼
Granted 113,500 Performance Stock Options at ₹10/share. While routine, the four-year exercise period could lead to gradual equity dilution.
- NTPC Limited/No Data Disclosed↓ [LOW RISK]▼
Filing only announces an analyst meet for July 27, 2026. No financial data or performance updates are provided.
Opportunities (9)
- Eternal Limited/Quick Commerce Profitability Inflection↓ (OPPORTUNITY)◆
Blinkit turned profitable with ₹102 Cr Adjusted EBITDA vs a ₹162 Cr loss last year. With 200 net new stores added (total 2,443) and food delivery margins at 5.6% of NOV (near upper end of guidance), the company is approaching a profitability inflection point.
- Tech Mahindra/Google Cloud Partnership↓ (OPPORTUNITY)◆
Recognized as the 2026 Google Cloud Partner of the Year in services and industry solutions in manufacturing. This partnership could drive incremental deal wins in cloud migration and AI, especially in the manufacturing vertical which grew 17.2% YoY.
- Eternal Limited/Food Delivery Momentum↓ (OPPORTUNITY)◆
Food delivery NOV growth accelerated for four consecutive quarters to 20%+ YoY. With margins at 5.6% of NOV, this segment is a stable cash cow funding quick commerce expansion.
- HCL Technologies/eSIM Leadership in South America↓ (OPPORTUNITY)◆
First cross-platform eSIM transfer capability in South America with TIM Brasil (5G leader in Brazil). This positions HCLTech as a pioneer in a high-growth telecom segment, potentially leading to more LATAM deals.
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With 26% of manufacturers planning to increase Physical AI investment and none planning to reduce, TCS is well-positioned to capture consulting and implementation revenue. The study itself serves as a lead generation tool.
- Eternal Limited/AGM Catalyst↓ (OPPORTUNITY)◆
16th AGM scheduled for August 26, 2026, with re-appointment of Sanjeev Bikhchandani as Non-Executive Director. AGMs often provide strategic updates and Q&A that can clarify growth trajectory.
- Tech Mahindra/Orion Marketplace Recognition↓ (OPPORTUNITY)◆
Frost & Sullivan recognized Orion Marketplace as a next-gen agentic AI solution. This could drive adoption and licensing revenue in the enterprise AI space.
- Eternal Limited/QIP Fund Deployment Yield↓ (OPPORTUNITY)◆
Unutilized QIP proceeds of ₹2,083.18 Cr are earning 4.45%-8.14% returns in fixed deposits and corporate deposits, providing a cushion against operating losses while funds are deployed for growth.
- Bharti Airtel/Immaterial Penalty Resolution↓ (OPPORTUNITY)◆
The ₹1,03,000 penalty is negligible for Airtel's scale. The quick resolution (opting not to contest) removes regulatory overhang without material cost.
Sector Themes (5)
- Quick Commerce Hypergrowth vs Profitability Trade-off◆
Eternal Limited's 182% YoY revenue growth is driven by quick commerce (₹15,664 Cr vs ₹2,400 Cr YoY), but PAT fell 47% QoQ. This theme highlights the high-growth, high-investment nature of the sector, where scale is prioritized over near-term profits. Investors must weigh market share gains against margin compression.
- IT Services Broad-Based Recovery◆
Tech Mahindra's 6.6% constant currency growth across all verticals (manufacturing +17.2%, BFSI +8.1%, retail +8.6%) signals a broad-based demand recovery in IT services. This contrasts with the modest 1.3% growth in communications, suggesting sector-specific headwinds in telecom.
- Physical AI Adoption: High Intent, Low Execution◆
TCS's study reveals a classic early-adoption pattern—77% of manufacturers expect significant transformation, but 68% are still in non-deployment or experimental stages. This creates a multi-year consulting and implementation opportunity for IT firms like TCS, HCLTech, and Tech Mahindra.
- Capital Discipline in High-Growth Companies◆
Eternal Limited's QIP fund utilization shows no deviation from plan, with INR 6,352.94 Cr utilized and INR 2,083.18 Cr deployed in low-risk instruments earning 4.45%-8.14%. This disciplined approach contrasts with the aggressive expense growth, suggesting management is balancing growth with financial prudence.
- Routine Compliance Dominates Filing Activity◆
Of the 17 filings, 10 are routine disclosures (ESOP transfers, investor meet announcements, newspaper advertisements) with no financial impact. This underscores the importance of filtering for material events—only Eternal Limited (3 filings) and Tech Mahindra provided actionable financial data.
Watch List (8)
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Scheduled for July 28, 2026. Watch for Q1 FY27 results, especially volume growth trends in FMCG and margin commentary amid input cost pressures.
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Scheduled for July 27, 2026 at 4:00 PM IST. Watch for Q1 FY27 order inflows and defense capex commentary, given the government's focus on indigenization.
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Scheduled for July 27, 2026 in Mumbai. Watch for updates on renewable energy capacity additions and thermal power plant utilization rates.
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Scheduled for August 26, 2026. Watch for management guidance on quick commerce store expansion targets, food delivery margin trajectory, and any updates on the GST notices (₹447 Cr).
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With US$1.078 billion in total deal wins for Q1, watch for any large deal announcements or renewals in the coming quarters, especially in manufacturing and BFSI.
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Watch for any TCS announcements of Physical AI implementation contracts following the study. The 26% of manufacturers planning to increase investment could translate into near-term revenue.
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With 2,443 stores and 200 net additions in Q1, watch for any updates on store-level unit economics and same-store sales growth, which will determine profitability trajectory.
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Watch for any follow-on contracts in Latin America or with other telecom operators, which would validate the cross-platform eSIM capability as a scalable offering.
Filing Analyses
(17)
22-07-2026
ICICI Bank Limited has filed an investor presentation for debt market investor meetings scheduled on July 22-23, 2026. The presentation is intended for qualified institutional buyers and offshore investors, and includes forward-looking statements and risk factors. No specific financial figures or performance metrics were disclosed in the filing.
- · The investor presentation is being used for meetings with debt market investors on July 22-23, 2026.
- · The presentation is available on ICICI Bank's website at https://www.icici.bank.in/about-us/investor.
- · The filing was also copied to the New York Stock Exchange, Singapore Stock Exchange, Japan Securities Dealers Association, and SIX Swiss Exchange Ltd.
- · The presentation includes a disclaimer that it is not an offer of securities and is restricted to qualified institutional buyers and offshore investors.
22-07-2026
Reliance Industries Limited has published newspaper advertisements for its Postal Ballot Notice in The Times of India (English) and Maharashtra Times (Marathi) on July 22, 2026. The filing is a routine disclosure of the newspaper clippings and does not contain any financial results or performance data.
- · The advertisements were published in The Times of India (English) and Maharashtra Times (Marathi).
- · The filing is addressed to BSE Limited and National Stock Exchange of India Limited.
- · Copies were also sent to Luxembourg Stock Exchange and Singapore Exchange Limited.
22-07-2026
Bharti Airtel received a notice from the Department of Telecommunications (DoT) imposing a penalty of ₹1,03,000 for alleged violation of subscriber verification norms following a CAF Audit for May 2026. The company has opted not to contest and will pay the penalty. The financial impact is limited to the penalty amount, which is immaterial for a company of Airtel's size.
- · DoT conducted Customer Application Form (CAF) Audit for May 2026
- · Penalty is for alleged violation of subscriber verification norms under the License Agreement
- · Company received the notice on July 21, 2026 at 1718 Hrs IST
- · Company has opted not to contest and will pay the penalty
22-07-2026
TCS released a study showing Physical AI is becoming mainstream in manufacturing, with 77% of manufacturers expecting significant transformation in warehouse operations and 75% in assembly. While 26% plan to increase investment, 68% remain in non-deployment or experimental stages, and 44% lack formal accountability for AI failures, indicating mixed progress.
- · No surveyed organization plans to reduce Physical AI investment.
- · Survey conducted among 300 CXOs and VPs from North America and Europe between March and April 2026.
- · Sectors covered: automotive, electronics, industrial equipment, process industries, aerospace and defense.
- · TCS generated consolidated revenues of over US $30 billion in FY ended March 31, 2026.
22-07-2026
Bharat Electronics Limited (BEL) has informed the exchanges that its management will participate in a conference call hosted by Motilal Oswal Financial Services on July 27, 2026, at 4:00 PM IST to discuss the financial results for the quarter ended June 30, 2026 (Q1 FY2027). The call will be represented by the Chairman & Managing Director, CFO, and Company Secretary. No financial results or performance data are disclosed in this filing.
- · Conference call is scheduled for Monday, 27th July 2026 at 4:00 PM IST.
- · Dial-in numbers provided for India (+91 22 6280 1149 / +91 22 7115 8050) and international locations (Hong Kong, Singapore, UK, USA).
- · Prior registration is available via a DiamondPass link.
22-07-2026
Mahindra & Mahindra Limited disclosed the transfer of 6,665 equity shares by its Employees’ Stock Option Trust to 23 stock option grantees on July 22, 2026, pursuant to the exercise of stock options under the company's ESOP scheme. The filing is a routine compliance update with no financial impact or change in business operations.
- · The transfer was made to comply with an undertaking given to exchanges at the time of listing of shares allotted to the Trust.
- · The largest single transfer was 1,609 shares to Sanjay Chavan; the smallest transfers were 50 shares each to Vinayak Bhandurge and Jay Rungta.
22-07-2026
Eternal Limited (formerly Zomato Limited) filed a monitoring agency report from ICRA Limited confirming no deviation in the utilization of INR 8,436.12 Crore raised via a QIP in November 2024. As of June 30, 2026, INR 6,352.94 Crore has been utilized, leaving INR 2,083.18 Crore unutilized and deployed in fixed deposits, corporate deposits, government securities, and liquid funds. The report indicates all objects are on schedule with no delays or material deviations.
- · The QIP issue period was November 25-28, 2024, with 33,64,73,755 equity shares of face value ₹1 each issued at ₹252.62 per share.
- · No deviation from objects of the issue was observed; all objects are on schedule with completion expected by FY28.
- · Unutilized proceeds of ₹2,083.18 Crore are deployed in fixed deposits (₹1,500 Crore across Kotak Mahindra Bank, Axis Bank, ICICI Bank), corporate deposits (₹425 Crore with Mahindra & Mahindra Financial Services), government securities (₹124.58 Crore), and liquid funds (₹35.70 Crore), earning returns ranging from 4.45% to 8.14%.
- · General corporate purposes utilization totaled ₹1,539.09 Crore across seven quarters (Q3FY25 to Q1FY27), primarily for employee benefits and other expenses.
- · ICRA conducted a sample review of operational bank statements to verify end-use of funds.
22-07-2026
HCLTech announced a partnership with TIM Brasil to deploy South America's first cross-platform eSIM transfer capability, leveraging HCLTech's Device Entitlement Gateway (DEG). The collaboration aims to enhance mobile telephony experience for millions of users in Brazil by enabling seamless eSIM profile transfers across devices and operating systems. No financial terms or revenue impact were disclosed.
- · HCLTech has more than 223,000 employees across 60 countries.
- · Consolidated revenues for the 12 months ending June 2026 totaled $14.8 billion.
- · The partnership is with TIM Brasil, described as the 5G leader in the country.
- · The eSIM transfer capability is claimed to be South America's first cross-platform solution.
22-07-2026
Hindustan Unilever Limited has informed the stock exchanges about an earnings conference call scheduled for July 28, 2026, to discuss the financial results for the quarter ended June 30, 2026. The call will follow the board meeting where the results are approved. No financial figures or performance data are provided in this filing.
- · The earnings conference call is scheduled for Tuesday, 28th July, 2026.
- · Dial-in details are available on the company's website.
- · This follows a prior intimation dated 7th July, 2026 regarding the presentation to analysts/investors.
23-07-2026
InterGlobe Aviation Limited (IndiGo) has granted 113,500 Performance Stock Options to employees under its 2023 Employee Stock Option Scheme, at an exercise price of INR 10 per share. The options will vest over time and are exercisable within four years from the vesting date. This is a routine equity incentive disclosure with no immediate financial impact.
- · The grant was approved by the Nomination and Remuneration Committee on July 22, 2026.
- · The options are Performance Stock Options under the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.
- · The exercise period is four years from the date of vesting.
- · No options have been vested, exercised, lapsed, or cancelled as of the filing date.
- · Diluted EPS impact is not applicable as options are yet to be exercised.
22-07-2026
NTPC Limited announced that it will host its 22nd Annual Analysts and Institutional Investors Meet on 27 July 2026 in Mumbai, where management will interact with analysts and institutional investors. The filing is a routine disclosure of an upcoming investor event and contains no financial results or performance data.
22-07-2026
Tech Mahindra reported Q1 FY27 revenue of US$1.66 billion (+6.1% YoY reported, +6.6% constant currency) with operating margins of 14.4%, driven by broad-based growth across all verticals. Manufacturing led with 17.2% YoY growth, while BFSI grew 8.1%, retail/travel/logistics 8.6%, healthcare 7.2%, and communications 1.3%. Total deal wins were US$1.078 billion. However, communications growth remained modest at 1.3% YoY, and the macroeconomic environment for retail/travel/logistics was described as mixed.
- · Tech Mahindra was recognized as the 2026 Google Cloud Partner of the Year in services and industry solutions in manufacturing.
- · Frost & Sullivan recognized Orion Marketplace as a next-gen agentic AI solution.
- · Tech Mahindra was named among the top 15 sourcing standouts by ISG across Global, Americas, EMEA, and Asia.
- · Tech Mahindra was ranked number one among Indian corporates in Time's world's most sustainable companies list.
- · The company partnered with Perplexity and deployed Perplexity Enterprise Pro across sales and client-facing teams.
- · Acquisition of Avant Techno Solutions (Canada-based) in payments modernization and wealth platforms was announced during the quarter.
- · Communications vertical grew only 1.3% YoY, the slowest among all verticals.
- · The macroeconomic environment for retail, travel & logistics was described as 'mixed'.
22-07-2026
Infosys Foundation, the philanthropic arm of Infosys, announced the inauguration of an advanced mother and neonatal care wing at PGIMER, Chandigarh, supported by a grant of over INR 147 crore for critical medical equipment. The facility, inaugurated by Prime Minister Narendra Modi, is expected to benefit over 25,000 pregnant women and newborns annually. This is a CSR initiative with no direct financial impact on Infosys's business performance.
- · The AMCC includes triage and emergency services, labor and delivery units, resuscitation facilities, obstetric intensive care, neonatal intensive care units, modular operation theatres, a blood bank, a human milk bank, and a kangaroo mother care ward.
- · Infosys Foundation was established in 1996 and supports programs in education, healthcare, women empowerment, and environmental sustainability.
- · Infosys operates in 59 countries and is recognized as the fastest growing IT services brand globally.
22-07-2026
Eternal Limited (formerly Zomato) reported consolidated revenue of ₹20,211 crore for Q1 FY27, up 182% YoY from ₹7,167 crore in Q1 FY26, driven by strong operational growth. However, profit after tax declined 47% sequentially to ₹92 crore from ₹174 crore in Q4 FY26, and total comprehensive income fell to ₹87 crore from a loss of ₹154 crore in the prior quarter. The Board also approved the internal transfer of the Nugget business (revenue ₹7.20 crore, 0.07% of total) to wholly owned subsidiary Carthero Technologies for ₹35 crore, and set the 16th AGM for August 26, 2026.
- · Total expenses for Q1 FY27 were ₹20,314 crore, up from ₹7,433 crore in Q1 FY26 and ₹17,406 crore in Q4 FY26.
- · Advertisement and sales promotion expenses were ₹945 crore in Q1 FY27, compared to ₹671 crore in Q1 FY26 and ₹936 crore in Q4 FY26.
- · Delivery and related charges were ₹3,150 crore in Q1 FY27, up from ₹1,869 crore in Q1 FY26 and ₹2,607 crore in Q4 FY26.
- · Finance costs increased to ₹151 crore in Q1 FY27 from ₹67 crore in Q1 FY26 and ₹132 crore in Q4 FY26.
- · The company has a GST matter under dispute; management believes it has a strong case.
- · The Board meeting started at 1:30 PM and concluded at 2:50 PM on July 22, 2026.
- · The 16th AGM is scheduled for August 26, 2026 at 12:00 PM IST via video conferencing.
- · Sanjeev Bikhchandani is proposed for re-appointment as Non-Executive Nominee Director at the AGM.
22-07-2026
Eternal Limited (formerly Zomato) reported Q1FY27 results with consolidated B2C NOV growing 54% YoY to INR 31,120 crore and Adjusted Revenue surging 173% YoY to INR 20,648 crore, driven by the shift to a 1P model in quick commerce. Adjusted EBITDA grew 223% YoY to INR 555 crore. However, the 'Others' segment (Bistro, Nugget) saw losses widen from INR 45 crore to INR 94 crore, and the going-out (District) business remained loss-making at -2.0% of NOV. Quick commerce (Blinkit) turned profitable with INR 102 crore Adjusted EBITDA versus a INR 162 crore loss last year, while food delivery margins reached 5.6% of NOV, near the upper end of guidance.
- · Food delivery NOV growth accelerated for four consecutive quarters to 20%+ YoY.
- · Quick commerce added 200 net new stores, total count 2,443.
- · Inventory losses in quick commerce are about 1.8% of NOV.
- · Steady state pre-tax ROCE for quick commerce estimated at 41.7%.
- · Customer retention (Q4) averages 46% across all cohorts, with most recent cohort at 50%.
- · NOV retention (Q12) averages 279% across all cohorts.
- · Cash balance increased by INR 316 crore QoQ to INR 18,288 crore.
- · Others segment losses increased from INR 45 crore to INR 94 crore, driven by R&D in Nugget.
- · Going-out (District) loss widened to INR 65 crore from INR 54 crore last year.
- · Hyperpure turned profitable with INR 6 crore Adjusted EBITDA vs INR 18 crore loss last year.
22-07-2026
Eternal Limited (formerly Zomato) reported consolidated revenue from operations of ₹20,211 Cr for Q1 FY26, a 182% YoY surge driven by the quick commerce segment (₹15,664 Cr vs ₹2,400 Cr in Q1 FY25). However, consolidated profit after tax fell sharply to ₹92 Cr from ₹174 Cr in the preceding quarter, and basic EPS dropped to ₹0.10 from ₹0.19 QoQ, reflecting higher expenses and a tax charge. The company faces GST show-cause notices and orders totaling ₹447 Cr, which it is contesting.
- · Consolidated quick commerce segment revenue surged to ₹15,664 Cr in Q1 FY26 from ₹2,400 Cr in Q1 FY25, while India food ordering and delivery grew to ₹3,100 Cr from ₹2,261 Cr YoY.
- · Consolidated total expenses rose to ₹20,314 Cr in Q1 FY26 from ₹7,433 Cr in Q1 FY25, with delivery and related charges at ₹3,150 Cr (vs ₹1,869 Cr) and advertisement and sales promotion at ₹945 Cr (vs ₹671 Cr).
- · Standalone (parent) profit after tax was ₹585 Cr for Q1 FY26, down from ₹705 Cr in Q4 FY26 but up from ₹602 Cr in Q1 FY25.
- · The company is contesting GST show-cause notices and demand orders totaling ₹447 Cr related to GST on delivery charges.
- · Effective February 1, 2026, the CODM is the CEO (previously MD & CEO).
- · The company has made long-term strategic investments in subsidiaries and concluded no impairment is required as of June 30, 2026.
22-07-2026
Eternal Limited (formerly Zomato) reported consolidated revenue from operations of INR 20,211 crore for Q1 FY27 (June 30, 2026), up 182% YoY from INR 7,167 crore in Q1 FY26. Profit after tax increased 268% YoY to INR 92 crore from INR 25 crore. However, profit declined 47% sequentially from INR 174 crore in Q4 FY26, and other comprehensive income swung to a loss of INR 5 crore from a gain of INR 73 crore in the prior-year quarter. The Board also approved a slump sale of the 'Nugget by Zomato' business to wholly owned subsidiary Carthero Technologies at a cash consideration of INR 35,00,00,000 as part of an internal restructuring.
- · The Board approved the 16th Annual General Meeting to be held on August 26, 2026 at 12:00 P.M. IST via video conferencing.
- · The AGM will seek to re-appoint Sanjeev Bikhchandani as Non-Executive Nominee Director, retiring by rotation.
- · Nugget Business had revenue of INR 7.20 crore in FY26, which is only 0.07% of standalone revenue, and net worth of INR 10.54 crore (0.03% of standalone net worth).
- · The slump sale to CTPL is a related party transaction at arm's length, with a cash consideration of INR 35,00,00,000 (thirty five crore only).
- · The company faces GST proceedings regarding delivery charges; management believes it has a strong case on merits.
- · Total expenses grew to INR 20,314 crore in Q1 FY27 from INR 7,433 crore in Q1 FY26, a 173% increase.
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