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Deepinder Goyal’s Eternal Sees 90% Profit Crash in Q1FY26 Even as Revenues Jump 70% to ₹7,167 Cr

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Deepinder Goyal’s Eternal Sees 90% Profit Crash in Q1FY26 Even as Revenues Jump 70% to ₹7,167 Cr

Eternal, the parent company of Zomato and Blinkit, has taken a sharp hit on its bottom line in the first quarter of FY26, even as its revenues posted a strong surge. The company, led by Deepinder Goyal, reported a consolidated net profit of just ₹25 crore for the April–June quarter—down significantly from ₹253 crore during the same period last year, marking a staggering 90% year-on-year fall.

The topline, however, told a different story. Revenue from operations rose 70% to ₹7,167 crore, thanks in large part to the aggressive growth of its quick commerce arm Blinkit and B2B supply platform Hyperpure.

But that growth came at a cost. Eternal’s profitability took a backseat as it continued pouring money into expanding its fast-delivery and going-out services. Adjusted EBITDA for the quarter dropped to ₹172 crore, down 42% from last year. CFO Akshant Goyal acknowledged that these expansions were weighing on margins, though food delivery margins improved slightly, climbing to 5.0% of Net Order Value (NOV) from 3.9% in Q1FY25.

Expenses ballooned as well, touching ₹7,433 crore—nearly 77% higher than the ₹4,203 crore spent in the corresponding quarter last year.

Seasonal challenges didn’t help. “The first quarter tends to put pressure on margins due to monsoon-related disruptions and fewer available delivery partners,” Deepinder Goyal told shareholders.

In a major shift, Blinkit for the first time overtook Zomato’s food delivery business in terms of Net Order Value. Eternal’s overall B2C NOV rose 55% year-on-year to ₹20,183 crore, with Blinkit alone contributing ₹9,203 crore—up a massive 127% from Q1FY25.

The quick commerce platform also saw its user base explode. Monthly transacting customers on Blinkit more than doubled to 16.9 million, while the company added 243 new stores in just one quarter, taking the total count to 1,544. CEO Albinder Dhindsa said Blinkit remains on track to hit its 2,000-store goal by the end of the year and is simultaneously scaling up warehousing space, which now spans 10.4 million sq. ft.

While Blinkit hasn’t yet turned profitable, its losses are narrowing. The EBITDA margin loss improved to -1.8% of NOV, compared to -2.4% in the previous quarter.

All eyes will now be on whether Eternal can strike a balance between growth and profitability in the quarters ahead.

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Tilaknagar Industries in Talks to Acquire Popular Whisky Brand Imperial Blue from Pernod Ricard

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A major shake-up could soon be underway in India’s liquor space, with Tilaknagar Industries, headed by Amit Dahanukar, emerging as the likely buyer for Pernod Ricard’s well-known whisky brand, Imperial Blue. The acquisition, pegged between ₹4,000-5,000 crore, is reportedly in the final stages, with insiders hinting at a formal announcement before the end of the month. Inbrew Beverages, led by Ravi Deol, is also still in the race, but Tilaknagar seems to have pulled ahead.

Both companies stayed tight-lipped when asked about the development, and Pernod Ricard India, too, didn’t offer any comment. However, Tilaknagar’s board is set to meet on Wednesday to explore a fresh round of fundraising—widely believed to be linked to the Imperial Blue deal. The funding could come through a mix of financial instruments like equity, bonds, debentures, preference shares, or warrants, depending on what the board decides. The company’s filing indicates the capital may be raised in multiple rounds, potentially through public offerings, private placements, rights issues, or QIPs.

Pernod Ricard has been weighing the sale of Imperial Blue—which clocks in at nearly 23 million cases sold annually—as it looks to pivot more aggressively towards its high-end offerings. In the pecking order of Indian whiskies, Imperial Blue holds the third spot, trailing only Diageo’s McDowell’s No. 1 (32.2 million cases) and Pernod’s own Royal Stag (31 million cases).

Tilaknagar, known best for its blockbuster Mansion House brandy, has been trying to diversify its alcohol portfolio. Its line-up currently features names like Mansion House Gold Barrel whisky, Madira Gold Dark rum, and Blue Lagoon gin. The brandy segment remains its biggest breadwinner, particularly in southern markets where Mansion House moves close to 8 million cases annually.

Speaking during the company’s last earnings call, Tilaknagar’s president of strategy and corporate affairs, Ameya Deshpande, gave a glimpse of where the company is headed. “By 2030, we want brandy to continue leading our business but aim for non-brandy products to make up 20% of our revenues—up from today’s 6%,” he said.

If the Imperial Blue deal goes through, it could mark a huge leap in that direction.

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Blinkit Foods Incorporated by Eternal to Back Bistro’s Rapid Expansion; 38 Kitchens Already Running

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Blinkit Foods Incorporated by Eternal to Back Bistro’s Rapid Expansion; 38 Kitchens Already Running

Eternal, the parent company behind Zomato and Blinkit, has quietly registered a new subsidiary—Blinkit Foods—as it looks to deepen its push into ultra-fast food delivery.

The new arm is being floated with an authorised capital of ₹1 crore and a paid-up capital of ₹10 lakh. Though the company hasn’t shared a roadmap yet, filings show that Blinkit Foods will focus on everything from food innovation and prep to sourcing, selling, and delivering meals to customers.

In a regulatory disclosure, Eternal clarified that Blinkit Foods will be a wholly owned unit and part of the group’s internal ecosystem. Notably, the company continues to operate without a promoter group, remaining under professional management.

The move follows the growing footprint of Blinkit’s 10-minute food delivery experiment—Bistro—which now runs 38 kitchens across Delhi-NCR and Bangalore. Eternal appears to be doubling down on this model by setting up a dedicated entity to potentially streamline and scale the offering.

In the Q1 FY26 shareholder letter, founder and CEO Deepinder Goyal called the early performance of Bistro “promising,” highlighting that the service has added demand without undercutting Zomato’s core business.

According to Goyal, Bistro’s value proposition hits two sweet spots: budget-friendly, quality meals and a menu that caters to quick cravings—think snacky, comfort food—delivered at lightning speed.

The creation of Blinkit Foods could be Eternal’s next big step in turning 10-minute meals from a trial into a full-fledged business vertical.

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Farmley Sets Sights on ₹700 Cr Revenue in FY26, to Pump ₹50 Cr into Noida Factory as Clean Snacking Trend Booms

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Farmley Sets Sights on ₹700 Cr Revenue in FY26, to Pump ₹50 Cr into Noida Factory as Clean Snacking Trend Booms

Homegrown snacking brand Farmley is gearing up for a major leap this fiscal year, aiming to push its revenue to between Rs 600 and Rs 700 crore — almost double what it clocked last year.

Founded in 2017 by two IIT graduates, the Noida-based company closed FY 2024-25 with Rs 370 crore in revenue. Now, it’s betting on a wider presence both in stores and on digital shelves to hit its ambitious target.

“We’re scaling up aggressively across all platforms and expanding production to meet rising demand,” co-founder and CEO Akash Sharma said during a recent healthy snacking summit. He also revealed plans to pour Rs 40-50 crore into a new manufacturing unit near Noida, which should be up and running sometime next year. Profitability, he added, is firmly on the cards for this financial year.

Farmley’s lineup includes dry fruits, seeds, trail mixes, roasted snacks, and ready-to-eat options — all designed to be nutritious, accessible, and free from unnecessary additives.

According to a new consumer insights report shared by the brand, nearly 36% of those surveyed ranked roasted and flavored dry fruits as their go-to savory snack, while 19% picked makhana — a puffed lotus seed — as their favorite.

The data also highlighted a shift in consumer behavior: 55% said they prefer snacks that are clean-label and preservative-free, while 52% were drawn to resealable, eco-friendly packaging. Another 45% said they’re reaching more often for on-the-go snacks like dry fruit laddoos and compact energy bars.

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Pan-Asian Giant wagamama Enters India via K Hospitality; First Outlet Opens in Mumbai, Expansion to Follow

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Pan-Asian Giant wagamama Enters India via K Hospitality; First Outlet Opens in Mumbai, Expansion to Follow

The globally loved UK-born pan-Asian restaurant, wagamama, is finally making its way to India, kicking off its journey in the bustling heart of South Mumbai. Its first Indian outlet will open doors at the historic Cambata Building – a landmark address that’s getting a bold new culinary tenant.

Founded in London in 1992, wagamama was inspired by the energy and simplicity of Japanese ramen bars, blended with the bold flavors of Asian cuisine. Over the decades, it’s become a household name across Europe and the Middle East, known not just for its food but for its philosophy of serving warmth with every bowl.

Bringing wagamama to Indian shores is K Hospitality Corp, one of the country’s biggest players in the food and beverage space. This marks yet another ambitious chapter for the company.

“We’re not your usual restaurant – we’re a vibe,” said Francisco Neves, Senior VP of Franchise and Partnerships. “wagamama is about soulful food, shared joy, and a playful spirit. Mumbai felt like the perfect first stop – it’s alive with flavour, personality, and people who appreciate food with heart.”

The Mumbai menu is a full-on flavour fest – think signature katsu curry, yaki soba, comforting donburi bowls, crispy bang bang cauliflower and prawns, rich ramens like tantanmen and kare burosu, alongside fluffy baos and handmade gyozas. Pair it all with refreshing juices, Asian-inspired cocktails, or fruity mocktails, and round it off with desserts and curated wines and spirits.

Next up? Delhi NCR. With plans to expand further across India, wagamama promises each new outlet will stay rooted in its global essence while celebrating local energy.

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Birla Heiress Ananya Enters Beauty Market with Birla Cosmetics, Juggles Roles Across ₹5 Lakh Cr ABG Empire

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Birla Heiress Ananya Enters Beauty Market with Birla Cosmetics, Juggles Roles Across ₹5 Lakh Cr ABG Empire

Ananya Birla has quietly stepped into a new chapter, revealing that she’s now the Founder and Managing Director of Birla Cosmetics. The company currently includes two brands under its umbrella — Lovetc and Contraband. She shared the update in a recent LinkedIn post, calling it a “long-overdue announcement.”

Ananya’s plate is more than full. Alongside this new beauty venture, she holds key roles across several arms of the Aditya Birla Group. Since early 2023, she’s been a Director at Grasim Industries, Aditya Birla Fashion and Retail, and Aditya Birla Management Corporation. She also serves as Chairperson and Director at both Chaitanya India Fin Credit and Svatantra Microfin. Outside of the group, she founded Ikai Asai, a platform celebrating Indian design, and leads the Ananya Birla Foundation.

And if that weren’t enough, she continues to pursue her music career — signed to BMG and previously associated with Universal Music Group — balancing boardrooms and recording studios with equal energy.

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Reliance’s Ajio Rush Enters Fashion’s Quick Commerce Battle: 1.3 Lakh Styles, 4-Hour Delivery, and a Race Against Myntra, Snitch & Slikk

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Reliance’s Ajio Rush Enters Fashion’s Quick Commerce Battle: 1.3 Lakh Styles, 4-Hour Delivery, and a Race Against Myntra, Snitch & Slikk

Reliance Retail Ventures has stepped into the fast-fashion delivery game with the rollout of Ajio Rush—a service that promises to get your style picks to your doorstep within just four hours. Introduced in the first quarter of FY26, the feature is already operational in six cities and offers an extensive selection of over 1.3 lakh fashion pieces. According to Reliance’s Q1 earnings report, Ajio Rush is already showing healthy numbers, thanks to higher-than-usual order values and fewer returns.

Ajio isn’t the first to try speeding up fashion deliveries. Myntra tested the waters last year with its M-Now service, offering delivery windows as tight as 30 minutes to two hours. As ETtech highlighted on June 18, 2025, other players like Nykaa Fashion, Newme, and Slikk have also been experimenting with lightning-fast drop-offs to appeal to impulse buyers—especially the Gen Z crowd that’s used to instant gratification. But not everyone has made it work. Quick fashion startup Blip folded in under a year, pointing to funding struggles and difficulties in scaling quickly.

That said, money is still pouring into this space.

On May 13, 2025, Slikk secured a $10 million investment from Nexus Venture Partners and Lightspeed to grow its one-hour delivery operation. Just weeks later, Snitch attracted a hefty $40 million round from 360 One Asset to fuel its own quick commerce ambitions. Around the same time, Gen Z-focused brand Newme raised $18 million from Accel, Fireside Ventures, and AUM Ventures to expand its footprint.

Despite the buzz, consumer behavior hasn’t changed entirely. In a June conversation with ETtech, Snitch founder Siddharth Dungarwal pointed out that most people don’t shop for clothes on a whim—unless they’ve got a last-minute event or emergency. “Essentials still rule the cart,” he said.

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In a Market Dominated by Zepto and D-Mart, One 40-Year-Old Bengaluru Grocery Store Is Winning Hearts: And Going Global

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In a Market Dominated by Zepto and D-Mart, One 40-Year-Old Bengaluru Grocery Store Is Winning Hearts: And Going Global

As grocery apps like Zepto and Blinkit continue to dominate urban shopping habits, a Bengaluru techie’s social media post has sparked a lively debate about whether India’s neighborhood kirana stores can still hold their ground.

In a post that quickly caught fire on X (formerly Twitter), Amarnath Shivashankar shared the story of a humble grocery shop in his Bengaluru neighborhood that’s doing more than just surviving—it’s thriving. The store, which has been around for four decades, hasn’t just kept pace with the times—it’s sprinted ahead in its own way.

“This store near my place has been around for 40 years. They accept UPI, cards, cash—whatever works for you. They deliver to your doorstep. They even send groceries abroad through a courier service,” Amarnath wrote. “The quality is excellent. They’ve figured out how to make it work. That’s real innovation.”

He praised the store for keeping up with changing customer needs without losing the personal touch, even as big players like Reliance Mart, D-Mart, and lightning-fast delivery apps have taken over much of the grocery space.

While celebrating the store’s resilience, Amarnath made a pointed observation about modern shopping behavior: “This is capitalism, not socialism. People will go where they get value, convenience, and quality. That’s the bottom line.”

The post triggered hundreds of responses, with users chiming in from both sides of the fence.

Some hailed the post as a reminder that small businesses can survive if they’re willing to adapt. But others saw it as an exception, not the rule. One user commented, “The problem isn’t innovation or service—it’s that a few giant corporations control most of the supply chain now. That’s not a fair playing field.”

There were also voices of cautious optimism, drawing from history. “We’ve seen this before,” wrote another user. “When Ola and Uber showed up, people thought autos were done for. Then came the Metro, and people feared buses would vanish. But everything found its place eventually. The market adjusts.”

At a time when algorithms and logistics are dictating how we shop, the story of one well-run kirana shop reminds us there’s still room for trust, familiarity, and good old-fashioned service. For now, at least, the local store isn’t just surviving—it’s setting an example.

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Krispy Kreme India Teams Up With Warner Bros to Launch DC Super Hero Doughnuts—Batman, Superman & Wonder Woman Now Come With a Filling

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Krispy Kreme India Teams Up With Warner Bros to Launch DC Super Hero Doughnuts—Batman, Superman & Wonder Woman Now Come With a Filling

Krispy Kreme India is giving doughnuts a heroic makeover with the launch of its DC Super Hero-themed collection, created in collaboration with Warner Bros Discovery Global Consumer Products. As part of a global campaign, the limited-edition lineup has now made its way to Krispy Kreme stores and online delivery platforms in major Indian cities.

This exclusive range draws inspiration from three of DC’s most legendary icons — Batman, Superman, and Wonder Woman — with bold flavors and playful, comic-book-style designs. Globally, Krispy Kreme outlets have been transformed with superhero-inspired décor and packaging, and now Indian fans can get a taste of this pop-culture celebration.

Each doughnut is designed as a tribute to a hero. The Batman doughnut comes with rich dark chocolate icing, topped with black and yellow sprinkles reminiscent of Gotham’s protector. The Superman version stands out with bright red, blue, and yellow icing, paired with a creamy vanilla filling that echoes the Man of Steel’s iconic colors. The Wonder Woman doughnut, shimmering with golden glaze and the unmistakable “WW” emblem, captures the elegance and power of the Amazonian warrior.

Commenting on the launch, Ankit Nagori, CEO of Curefoods, said, “This campaign is all about merging the fun of fandom with indulgent treats. We’re thrilled to bring the excitement of the DC Universe to Indian fans, whether they’re visiting our stores or ordering from home.”

These limited-edition DC doughnuts will only be available for a short time, making them a must-try for superhero fans and dessert lovers alike.

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French Bagel Giant Bagelstein Opens First India Outlet in Hyderabad, Plans 100 Stores Nationwide by 2029

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French Bagel Giant Bagelstein Opens First India Outlet in Hyderabad, Plans 100 Stores Nationwide by 2029

French bagel chain Bagelstein has officially landed in India, opening its very first store at Nexus Mall in Hyderabad’s Kukatpally neighborhood. Known for its playful attitude and Parisian flair, the brand is kicking off what it hopes will be a country-wide bagel revolution.

The Hyderabad outlet brings a taste of Europe to the city, offering a carefully selected menu that includes fan favorites like the Halloumi Bagel and the Josephine Bagel. Alongside the food, guests can choose from a lineup of chilled teas, smoothies, and classic coffee options. Everything on the menu is made with fresh ingredients, staying true to Bagelstein’s quality-first philosophy.

The space itself has been designed to reflect Bagelstein’s signature quirky-yet-chic European vibe—think vintage posters, moody lighting, and plenty of character. But there’s a local twist too, with subtle nods to Indian culture built into the décor to help the international brand feel more at home.

Thierry Veil, Bagelstein’s co-founder and CEO, sees big potential in the Indian market. “India is a dynamic space for global food culture right now,” he said. “We’re excited to bring our distinctive bagels and French personality to a whole new audience in Hyderabad.”

But this isn’t a one-off. Bagelstein has its sights set on a much bigger play. Under a master franchise agreement signed in August 2024, the company is aiming to open 100 locations across India by 2029. Target cities on the roadmap include Delhi, Mumbai, Bengaluru, and Pune.

Launched in Strasbourg in 2011, Bagelstein has grown to over 100 outlets across France and neighboring countries like Belgium, Italy, Luxembourg, and Switzerland. With Hyderabad now on the map, India becomes the latest addition to the brand’s expanding global presence.

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