Zomato Limited, operating under the corporate name Eternal Online Services Ltd., is India’s leading food delivery and restaurant discovery platform. Headquartered in Gurugram, it has expanded into quick commerce (Blinkit), hyperlocal delivery, and dining experiences. After years of heavy losses, Zomato turned profitable in FY2024 and has sustained net profits through FY2025—marking a major inflection point in its business model. As of January 2026, the company enjoys strong investor confidence, zero debt, and robust growth in both food delivery and Blinkit segments. However, it trades at an extremely high valuation, reflecting aggressive growth expectations. This article provides a data-driven outlook on the Zomato share price target 2026–2030.
Zomato: Company Overview
- Founded: 2010
- Founder & CEO: Deepinder Goyal
- NSE Symbol: ETERNAL
- Business Segments: Food Delivery (65%), Quick Commerce – Blinkit (30%), Dining & Events (5%)
- Market Position: #1 in Indian food delivery; #2 in quick commerce after Swiggy
Zomato’s path to profitability has been driven by pricing discipline, operational efficiency, and monetization of high-frequency users. Blinkit’s contribution to EBITDA has turned positive, reducing cash burn significantly.
Zomato: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹287.50 |
| Market Capitalization | ₹2,77,496 Cr |
| No. of Shares Outstanding | 965.04 Cr |
| 52-Week High / Low | ₹355.90 / ₹194.80 |
| P/E Ratio (TTM) | 117.48 |
| P/B Ratio | 7.74 |
| EPS (TTM) | ₹2.45 |
| Book Value (TTM) | ₹37.17 |
| ROE | 7.13% |
| ROCE | 7.76% |
| Dividend Yield | 0.00% |
| Face Value | ₹1 |
| Cash | ₹1,799 Cr |
| Debt | ₹0 Cr |
| Promoter Holding | 0% |
| Sales Growth (YoY) | 30.13% |
| Profit Growth (YoY) | 42.96% |
Zomato Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹300 – ₹340 |
| 2027 | ₹320 – ₹380 |
| 2028 | ₹340 – ₹430 |
| 2029 | ₹360 – ₹480 |
| 2030 | ₹380 – ₹540 |
Zomato Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹300 | ₹340 |
Zomato reported 42.96% YoY profit growth in FY2025, with net profit of ₹2,365 Cr—its second consecutive year of profitability. Revenue grew 30% YoY, led by food delivery GMV expansion and Blinkit’s scale-up. Despite this, the stock trades at a P/E of 117x and P/B of 7.7x, reflecting sky-high growth expectations. A 2026 target range of ₹300–₹340 assumes continued margin expansion and no major competitive disruption.
Zomato Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹320 | ₹380 |
If the company sustains 25–30% earnings growth and benefits from higher advertising and subscription revenue, EPS could reach ₹2.70–₹3.00 by FY27. Assuming a P/E of 110–120x, the 2027 target range of ₹320–₹380 is justified.
Zomato Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹340 | ₹430 |
By 2028, benefits from Blinkit’s profitability and user monetization should reflect in cash flows. A P/E of 115–125x on projected EPS of ₹2.90–₹3.40 supports the ₹340–₹430 band.
Zomato Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹360 | ₹480 |
Long-term tailwinds include India’s digital consumption boom and the rising frequency of food orders. If competition doesn’t erode margins, EPS could reach ₹3.10–₹3.80 by FY29. At a P/E of 115–125x, the 2029 target is ₹360–₹480.
Zomato Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹380 | ₹540 |
Over a five-year horizon, Zomato’s appeal lies in network effects and optionality—not just current earnings. If it maintains profitability and scales Blinkit internationally, investor confidence will strengthen. A terminal P/E of 120–130x on FY30 EPS (~₹3.20–₹4.15) justifies the ₹380–₹540 range.
Zomato: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Foreign Institutional Investors (FII) | 36.24% |
| Domestic Institutional Investors (DII) | 32.71% |
| Public & Others | 31.05% |
| Promoters | 0% |
The absence of promoters reflects its widely held public structure. High institutional ownership (68.95%) ensures liquidity and analyst coverage.
Zomato: Strengths vs Risks
Strengths:
- Zero debt and ₹1,799 Cr cash provide financial flexibility
- Consistent profitability since FY2024
- Market leadership in high-frequency digital services
- Strong unit economics in food delivery and Blinkit
Risks:
- Extremely high P/E leaves little room for execution misses
- No dividend payout (0% yield)
- Vulnerable to competition (Swiggy IPO, Amazon, Dunzo)
- Regulatory risks in the gig economy and data privacy
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | High |
| Ideal Time Horizon | 5+ years |
| Volatility | Very High (Beta: 1.9) |
| Dividend/Income Potential | None (0% yield) |
| Best For | Aggressive investors betting on India’s digital consumption story |
FAQs
Is ETERNAL overvalued?
Yes, on traditional metrics. With a P/E of 117x and ROE of 7.13%, it trades at a significant premium. However, the valuation reflects growth expectations—not current earnings.
Is Zomato a large-cap stock?
Yes. With a market cap of ₹2.77 lakh Cr, Zomato qualifies as a large-cap stock under SEBI guidelines and is part of the Nifty Next 50 index.
Is Zomato profitable in 2025?
Yes. Zomato reported net profit of ₹2,365 Cr in FY2025, up 42.96% YoY—its second straight year of profitability.
Is Zomato a good stock to buy?
Only for high-risk, long-term growth investors. Avoid if you seek dividends, low volatility, or value-based entry.
Final Verdict
Zomato has successfully transitioned from a cash-burning startup to a profitable, scaled platform. Its dual-engine model (food + quick commerce) offers strong network effects and pricing power. However, the current valuation demands near-perfect execution.
Our Zomato share price target 2026–2030 (₹300 to ₹540) reflects optimistic but realistic assumptions on growth, margins, and market leadership. Upside is significant if Blinkit scales; downside is steep if competition intensifies.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – Eternal (Zomato) Consolidated Page
- Groww.in – Zomato Stock Profile
- Finology Ticker – ETERNAL Financials & Analysis
- Zomato Investor Presentation (Q3 FY26, Jan 2026)
- SEBI Market Cap Classification Guidelines (2025)
Hi, I’m Raj Mittal, a stock market content writer focused on company analysis, share price trends, and fundamental research. I create simple, research-based insights to help investors make smarter market decisions.
