Finshots Daily A CEO can't be Eternal
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Jan 24, 2026 They unpack a founder stepping down and the surprising leadership handover. They track the stock’s mixed two-day reaction and short-term market moves. They break down Q3 financial headlines and why year-on-year figures can mislead. They contrast marketplace and inventory business models and explain how revenue recognition shifts. They discuss how leadership change can reshape investor sentiment and growth plans.
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Quarter Shows Mixed Strength
- Eternal reported strong quarter-on-quarter revenue and EBITDA growth, but net profit missed estimates by ~11%.
- The results look mixed because year-on-year comparisons are distorted by Blinkit's model change.
Accounting Change Inflates Growth
- Blinkit's shift from marketplace to inventory-led inflates reported revenue and EBITDA mechanically.
- Recognizing full order value makes growth appear explosive even if underlying margins improve modestly.
Margins Tell A Different Story
- Despite headline gains, Blinkit's net profit margin fell from 1% to 0.6% year-on-year.
- That suggests underlying profitability hasn't improved as sharply as revenue implies.