Zomato Ltd: History, Latest Updates, Milestones, Subsidiaries and Share Price
INTRODUCTION
Zomato Limited is an online food delivery company that operates both in India and internationally. Its operations are divided into several segments, including India Food Ordering and Delivery, Hyperpure Supplies, Quick Commerce Business, and others. The company's technology platform serves as a bridge connecting customers, restaurant partners, and delivery partners. Through its services, Zomato facilitates the procurement of ingredients and kitchen products for restaurant partners via Hyperpure, and operates Blinkit, a quick commerce marketplace offering swift delivery of everyday products to customers.
The platform enables users to search for and discover restaurants, place food orders for delivery, share and read customer-generated reviews, upload and view photos, as well as reserve tables and make payments for dining out. Besides its core food delivery services, Zomato also provides event organizing, payment aggregator and gateway services, engages in trading activities, and participates in financing and investment endeavors. Established in 2010, Zomato Limited is headquartered in Gurugram, India.
Zomato Limited Moves in 2024:
Zomato released its Third Quarter 2024 Results, demonstrating robust performance:
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Despite fluctuations, Zomato share price remained resilient.
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Revenue soared to Rs. 35.1 billion, an 80% increase compared to 3Q 2023, positively influencing investor sentiment.
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Net income rebounded to Rs. 1.38 billion from a Rs. 3.47 billion loss in 3Q 2023, potentially impacting Zomato's share price.
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With a profit margin of 3.9%, a notable improvement from the previous year's net loss, investor confidence in Zomato share price could further solidify.
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Earnings per share (EPS) bounced back to Rs. 0.16 from a Rs. 0.42 loss in 3Q 2023, likely contributing to a positive outlook for Zomato share price.
Evolution of Zomato Limited: From Past to Present:
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Zomato, initially named "Foodiebay," was established in 2008 by Deepinder Goyal and Pankaj Chaddah in India. Starting as an online restaurant directory, it quickly evolved into a comprehensive food discovery and delivery platform, expanding its services across multiple countries.
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2011: Zomato achieved its first institutional fund raise.
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2015: A significant milestone for Zomato was its acquisition of Urbanspoon, facilitating its entry into the competitive North American market.
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2016: Zomato introduced table reservation services.
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2017: The customer membership program, known as Zomato Pro, was launched.
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2018: Zomato expanded its capabilities with the acquisition of Carthero Technologies Private Limited, enabling hyperlocal delivery.
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2019: The company introduced Hyperpure, a B2B supplies business catering to restaurant partners.
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2020: Zomato expanded its food delivery operations to 500 cities in India and acquired UberEats India Business from Uber India, consolidating its presence in the market.
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Present: Zomato has continually innovated and diversified its offerings, such as the introduction of Zomato Gold in providing exclusive discounts and privileges at partner restaurants.
|
Name |
Zomato Ltd. |
|
Founded year |
2008 |
|
Key People |
Deepinder Goyal (CEO & MD) |
|
Headquarters |
Gurgaon, Haryana, India |
|
Sector |
Online food ordering |
|
Major subsidiaries |
Blinkit Hyperpure |
|
revenue |
Rs. 7,079 crore (US$890 million) (FY23) |
|
Nse code |
ZOMATO |
|
Bse code |
543320 |
Timeline of Zomato Limited:
|
Year |
Fact |
Description |
|
2008 |
Founded as Foodiebay |
Zomato, originally named "Foodiebay," was established during this period as an online restaurant directory. |
|
2011 |
Institutional Fund Raise |
Zomato raised its first institutional fund, signaling a milestone in its growth. |
|
2015 |
Launch of Food Delivery |
Zomato entered the food delivery segment in India, expanding its service offerings. |
|
2016 |
Introduction of Table Reservation |
Zomato introduced table reservation services, enhancing user experience. |
|
2017 |
Launch of Zomato Pro |
Zomato launched its customer membership program, Zomato Pro, offering exclusive benefits. |
|
2018 |
Acquisition and Awards |
Zomato acquired Carthero Technologies Private Limited, enhancing hyperlocal delivery capabilities. It also received accolades such as Technology Fast 50 Winner and INCA Technology/App of the Year. |
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2019 |
Launch of Hyperpure |
Zomato ventured into B2B supplies with the launch of Hyperpure and received recognition for its consumer-focused approach. |
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2020 |
Expansion and Acquisition |
Zomato expanded its food delivery operations across 500 cities in India and acquired Uber Eats India Business. It also received awards for its brand voice and was recognized as India's most desired brand. |
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2022 |
Subsidiary Changes |
Zomato witnessed changes in its subsidiary structure, including incorporations, dissolutions, and deregistrations. |
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2021 |
Listing on Stock Exchanges |
Zomato's equity shares were listed on BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE). |
|
2023 |
Subsidiary Ownership and Relaunch |
Zomato's subsidiary Blink Commerce Private Limited became wholly owned, and Zomato relaunched its food and entertainment carnival, Zomaland. |
Inside Zomato Limited: Exploring Subsidiary Ventures
Zomato Limited
Zomato Share Price: Zomato made a historic debut on the Indian stock market, with its Initial Public Offering (IPO) generating significant investor enthusiasm. The company's shares were listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
As of May 8, 2024, Zomato share price opened at Rs. 196, closed at Rs. 195.75, with a high of Rs. 196.35 and a low of Rs. 182.25, resulting in a market capitalization of Rs. 166357.09 crore. Its 52-week high and low were Rs. 201.95 and Rs. 60.35, respectively. Various factors, including earnings, growth, expansion, competition, regulation, and reputation, influence Zomato share price.
Main News: April 2024 ,Goldman Sachs increased Zomato share price target to Rs 240, suggesting a potential 30% upside, prompting a 3% rise in the stock. Projections foresee Blinkit's 53% CAGR in Gross Order Value by 2027 propelling a 32% revenue CAGR for Zomato, positioning it as a leader in its sector. Despite a 50% surge year-to-date, Zomato stock maintains stable technical indicators.
Latest News: In February 2024, Zomato highlighted that the addition of restaurants to its platform significantly contributed to the 27% year-on-year growth in the gross order value (GOV) of its food-delivery business. This growth comes amidst a broader slowdown in discretionary spending that the company is experiencing.
Zomato currently holds a consensus target price of Rs. 135.88 per share. Despite experiencing a 150% surge in 2023 and a further increase of over 10% since the beginning of this year, the foreign brokerage anticipates a comparatively subdued business and stock performance for Zomato in 2024, following its exceptionally strong performance in the previous year.
Blinkit
Latest News: The company's management asserts that Blinkit will surpass Zomato's food delivery business in size within 2024.
Current Zomato LTD Share Price NSE/BSE :
|
COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
Zomato Limited |
Online food ordering |
Achievements and Milestones:
|
Year |
Achievements |
Recognition |
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2018 |
Recognized as the Technology Fast 50 Winner by Deloitte Touche Tohmatsu India LLP, honored with the title of INCA Technology App of the Year by the National Restaurants Association of India, ranked among India's Most Attractive Brands by TRA Research, and awarded Young Turk of the Year at the India Business Leader Awards 2018. |
Recognized for its technological innovation, industry accolades, brand appeal, and leadership potential. |
|
2019 |
Ranked amongst India's Most Consumer Focused Brands by TRA Research - Recognized among the top companies in "Where India Wants to Work" by LinkedIn. |
Recognized for consumer-centric focus and desirability as an employer. |
|
2020 |
Ranked amongst Top 10 Overall Publishers by Downloads by AppAnnie - Best brand voice by Twitter - Ranked amongst India's most desired brands by TRA Research |
Commended for digital presence, brand engagement, and desirability among consumers. |
|
2021 |
Acknowledged as one of the high-growth companies in the Asia Pacific region in 2021 by NIKKEI Asia and Financial Times. |
Identified as a high-growth entity in the Asia Pacific region, showcasing potential for expansion and success. |
CONCLUSION
In conclusion, Zomato's evolution from a simple restaurant directory to a prominent player in the global food tech landscape is truly impressive. Amidst the ever-changing dynamics of the food delivery industry, Zomato's adaptability, innovation, and expansion strategies have been key drivers of its success. Considering these factors, Zomato share price may present an attractive investment opportunity for those keen on the food tech sector. Nonetheless, conducting comprehensive research and seeking guidance from financial experts are imperative steps in making well-informed investment decisions.
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Frequently Asked Questions:
1.What factors influence zomato share price?
Factors influencing Zomato share price include its financial performance, market sentiment, competition within the food delivery industry, regulatory changes, strategic initiatives, and technological trends. Investor perception and macroeconomic factors also play a role in determining Zomato share price movement.
2.Where can I find real-time updates on the Zomato share price NSE?
Check out the current Zomato share price today and real-time updates on stock prices on Enrich Money's stock analysis page here.
3. Is it Possible to Invest in Zomato shares if I'm Outside India?
Certainly, investing in Zomato shares is feasible if you can access the Indian stock market via international brokerage accounts. Nonetheless, it's advisable to be mindful of any regulatory constraints and tax implications applicable in your jurisdiction beforehand.
4.What is the market cap of Zomato shares?
The market capitalization of Zomato shares is Rs 1.68 trillion INR.
5.What has been the highest Zomato ltd share price in the last 52 weeks?
52 Week's highest Zomato share price is Rs 79.80, while Zomato share price 52 week's low is Rs 40.60
