Zomato is a prominent Indian multinational restaurant aggregator and food delivery company, established by Deepinder Goyal and Pankaj Chaddah in 2008. With a comprehensive presence, Zomato offers a wealth of information, including menus and user reviews, for restaurants across more than 1,000 cities and towns in India as of 2022–23.
Since its incorporation in 2010, Zomato Limited has emerged as a leading online food service platform, boasting a substantial volume of food sales. Notably, the company stands out as being nearly debt-free, reflecting its strong financial position and growth potential in the ever-evolving food service industry.
Zomato Q3 Result Summary and Key Points
- Zomato achieves third consecutive profitable quarter with a net profit of Rs 138 crore in Q3.
- Q3 revenue sees a substantial 69% year-on-year increase, reaching Rs 3,288 crore.
- Despite challenges in the broader e-commerce sector, Zomato’s performance is resilient.
- Improved margins attributed to factors like enhanced ad monetization and introduction of platform fees.
- Zomato’s stock price rises by over 50% in the past six months, reflecting increased investor confidence.
- Company emphasizes strategic measures to optimize growth and margin expansion in its letter to shareholders.
| When | Maximum Price | Minimum Price |
| February 2024 | 163.90 | 142.52 |
| March 2024 | 167.24 | 145.43 |
| April 2024 | 162.37 | 141.19 |
| May 2024 | 159.97 | 139.11 |
| June 2024 | 165.73 | 144.12 |
| July 2024 | 164.08 | 142.67 |
| August 2024 | 170.64 | 148.38 |
| September 2024 | 177.46 | 154.32 |
| October 2024 | 173.98 | 151.29 |
| November 2024 | 179.20 | 155.83 |
| December 2024 | 183.68 | 159.73 |
In February 2024, Zomato’s maximum price is expected to reach 163.90, while the minimum price is anticipated to be 142.52. As we progress into March 2024, Zomato is forecasted to experience a peak price of 167.24 and a low of 145.43. Moving forward to December 2024, the year is projected to conclude with Zomato’s maximum price reaching 183.68 and the minimum price settling at 159.73.
| When | Maximum Price | Minimum Price |
| January 2025 | 187.36 | 144.12 |
| February 2025 | 192.16 | 147.82 |
| March 2025 | 199.66 | 153.58 |
| April 2025 | 195.74 | 150.57 |
| May 2025 | 190.04 | 146.18 |
| June 2025 | 198.59 | 152.76 |
| July 2025 | 194.70 | 149.77 |
| August 2025 | 200.72 | 154.40 |
| September 2025 | 207.75 | 159.80 |
| October 2025 | 213.15 | 163.96 |
| November 2025 | 218.48 | 168.06 |
| December 2025 | 223.94 | 172.26 |
Zomato is forecasted to experience a surge in both maximum and minimum prices in January 2025, with the maximum reaching 187.36 and the minimum settling at 144.12. Moving into February 2025, Zomato’s market value is expected to further rise, reaching a maximum price of 192.16 and a minimum of 147.82. As March unfolds, Zomato’s projected maximum and minimum prices are poised to climb to 199.66 and 153.58, reflecting sustained growth in the platform’s financial performance.
| When | Maximum Price | Minimum Price |
| January 2026 | 198.51 | 152.70 |
| February 2026 | 203.60 | 156.62 |
| March 2026 | 211.54 | 162.73 |
| April 2026 | 207.40 | 159.54 |
| May 2026 | 201.36 | 154.89 |
| June 2026 | 210.42 | 161.86 |
| July 2026 | 206.29 | 158.69 |
| August 2026 | 212.67 | 163.59 |
| September 2026 | 220.12 | 169.32 |
| October 2026 | 225.84 | 173.72 |
| November 2026 | 231.48 | 178.06 |
| December 2026 | 237.27 | 182.52 |
Zomato continues its upward momentum, projecting an impressive performance in 2026 with anticipated monthly share price highs ranging from ₹198.51 to ₹237.27 by December.
The company’s strategic initiatives and sustained market presence signal a positive outlook, attracting investor confidence in its potential for substantial growth in the upcoming year.
| When | Maximum Price | Minimum Price |
| January 2027 | 242.02 | 186.17 |
| February 2027 | 248.22 | 190.94 |
| March 2027 | 257.90 | 198.39 |
| April 2027 | 252.85 | 194.50 |
| May 2027 | 245.48 | 188.83 |
| June 2027 | 256.53 | 197.33 |
| July 2027 | 251.50 | 193.46 |
| August 2027 | 259.28 | 199.44 |
| September 2027 | 268.35 | 206.42 |
| October 2027 | 275.33 | 211.79 |
| November 2027 | 282.21 | 217.09 |
| December 2027 | 289.27 | 222.51 |
| When | Maximum Price | Minimum Price |
| January 2028 | 295.05 | 226.96 |
| February 2028 | 302.62 | 232.78 |
| March 2028 | 314.42 | 241.86 |
| April 2028 | 308.25 | 237.12 |
| May 2028 | 299.28 | 230.21 |
| June 2028 | 312.74 | 240.57 |
| July 2028 | 306.61 | 235.85 |
| August 2028 | 316.09 | 243.15 |
| September 2028 | 327.16 | 251.66 |
| October 2028 | 335.66 | 258.20 |
| November 2028 | 344.06 | 264.66 |
| December 2028 | 352.66 | 271.27 |
| When | Maximum Price | Minimum Price |
| January 2029 | 359.71 | 276.70 |
| February 2029 | 368.93 | 283.79 |
| March 2029 | 383.32 | 294.86 |
| April 2029 | 375.81 | 289.08 |
| May 2029 | 364.86 | 280.66 |
| June 2029 | 381.28 | 293.29 |
| July 2029 | 373.80 | 287.54 |
| August 2029 | 385.36 | 296.43 |
| September 2029 | 398.85 | 306.81 |
| October 2029 | 409.22 | 314.79 |
| November 2029 | 419.45 | 322.65 |
| December 2029 | 429.94 | 330.72 |
| When | Maximum Price | Minimum Price |
| January 2030 | 438.54 | 337.34 |
| February 2030 | 449.78 | 345.99 |
| March 2030 | 467.32 | 359.48 |
| April 2030 | 458.16 | 352.43 |
| May 2030 | 444.81 | 342.17 |
| June 2030 | 464.83 | 357.56 |
| July 2030 | 455.72 | 350.55 |
| August 2030 | 469.81 | 361.39 |
| September 2030 | 486.25 | 374.04 |
| October 2030 | 498.90 | 383.77 |
| November 2030 | 511.37 | 393.36 |
| December 2030 | 524.15 | 403.20 |
Financial Condition of ZOMATO: Last 5 Years
| Financials | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Sales (Crore INR) |
1,313 | 2,605 | 1,994 | 4,192 | 7,079 |
| Expenses (Crore INR) |
3,556 | 4,909 | 2,461 | 6,043 | 8,290 |
| Operating Profit (Crore INR) |
-2,243 | -2,305 | -467 | -1,851 | -1,210 |
| OPM % | -171% | -88% | -23% | -44% | -17% |
| Other Income (Crore INR) |
1,285 | 16 | -200 | 793 | 681 |
| Interest (Crore INR) |
9 | 13 | 10 | 12 | 49 |
| Depreciation (Crore INR) |
43 | 84 | 138 | 150 | 437 |
| Profit before tax (Crore INR) |
-1,010 | -2,386 | -815 | -1,220 | -1,015 |
| Tax % | 0% | 0% | -0% | -0% | 4% |
| Net Profit (Crore INR) |
-1,010 | -2,386 | -816 | -1,222 | -971 |
| EPS in Rs | -28,574 | -70,096 | -23,123 | -1.54 | -1.14 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
From 2019 to 2023, the company experienced fluctuating financials. Sales grew steadily from 1,313 Crore INR to 7,079 Crore INR, while expenses escalated from 3,556 Crore INR to 8,290 Crore INR, leading to negative operating profits. Despite the challenging landscape, the operating profit margin (OPM %) improved from -171% in 2019 to -17% in 2023. Net profit showed a narrowing loss, decreasing from -1,010 Crore INR in 2019 to -971 Crore INR in 2023. Earnings per share (EPS) significantly improved from -28,574 in 2019 to -1.14 in 2023. The company reported minimal to no tax percentages until 2022, with a marginal 4% tax in 2023. The dividend payout percentage remained at 0% throughout the period.
With a market capitalization of ₹1,38,956 Cr, Zomato continues to strive for growth and profitability in the fiercely competitive food service industry.
FAQS
As of February 19th, 2024, Zomato’s shares are currently valued at INR 158.
Taking into account the present market trends and thorough market analysis, the projected share price range for Zomato in 2025 is estimated to be between ₹144.12 (minimum) and ₹223.94 (maximum).
Considering our price prediction, it is improbable that Zomato’s share price will reach 500 INR by the conclusion of 2026.
Is Zomato a good stock to buy?
Many investors view Zomato as an attractive investment due to its robust financial performance, market positioning, and growth prospects. Nonetheless, conducting personal research and seeking guidance from a financial advisor are crucial steps before making any investment choices.
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Conclusion
The recently reported Q3 results highlight the company’s success, marking a third consecutive profitable quarter with a net profit of Rs 138 crore and a strong 69% year-on-year increase in revenue to Rs 3,288 crore. Zomato’s strategic initiatives, nearly debt-free status, and sustained market presence contribute to a positive outlook, reflected in its rising stock prices. The financial condition from 2019 to 2023 reveals fluctuating yet improving trends, showcasing the company’s resilience and growth potential in the competitive food service industry. While Zomato is considered an attractive investment, thorough research and consultation with financial advisors are recommended before making investment decisions.
Last updated: 19th February 2024.
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