Eternal

Eternal Enterprises reported strong third-quarter results, with net profit rising significantly due to improved revenue growth, operational efficiency, and disciplined cost management. The performance comes amid a major leadership change, with founder Deepinder Goyal stepping down from his role, marking a pivotal moment in the company’s governance.

Eternal, the renowned Indian film production and distribution entity, is facing a Goods and Services Tax (GST) demand of Rs. 27.56 crore, following a detailed assessment by tax authorities. The demand arises from discrepancies identified in prior filings and revenue reporting, highlighting the growing scrutiny of entertainment sector finances in India. Industry analysts note that such GST notices, while common, can affect cash flows and project financing for production houses.

Eternal has received a goods and services tax demand order amounting to Rs. 3.7 crore from tax authorities, adding to regulatory scrutiny faced by corporates across sectors. The order relates to alleged tax discrepancies identified during assessment proceedings, though the company has indicated that it is evaluating the matter and considering appropriate legal remedies. While the financial exposure appears manageable relative to the company’s scale, the development highlights the growing intensity of GST enforcement.

Eternal Industries Ltd. posted a robust profit of Rs. 65 crore in the second quarter, driven largely by its strategic partnership with Blinkit and strong operational performance. The company’s revenue growth reflects rising demand for its core products, coupled with expanded digital distribution channels. Analysts highlight that the collaboration with Blinkit has enhanced market reach and consumer engagement, supporting higher sales volumes. Eternal’s quarterly performance underscores the potential of synergistic partnerships in scaling revenue and profitability.

Eternal Ltd. has come under regulatory scrutiny after receiving a Goods and Services Tax (GST) demand notice totaling Rs. 40 crore. The tax claim, issued by authorities following a review of the company’s filings, underscores ongoing compliance challenges that many mid- to large-scale corporations face under India’s indirect taxation regime. The notice reportedly pertains to discrepancies in input tax credit claims and past transactions. While the company has not yet disclosed its formal response, industry analysts expect Eternal to contest the demand through available legal remedies.

In a move set to redefine workplace benefits, Eternal has announced a sweeping reform to its parental leave policy, granting employees the flexibility to take up to three years off following the birth or adoption of a child. The program, designed to accommodate diverse family needs, allows leave to be taken in a single block or spread across multiple periods. This progressive initiative underscores the company’s commitment to work-life balance, employee well-being, and talent retention.

The shares of Eternal Ltd. recorded a significant upward movement, surging 6% in intraday trading, propelling the company’s market capitalization to a new benchmark. The sudden uptick comes amid a broader market rally and renewed investor confidence, potentially fueled by speculation around strategic developments or improved earnings outlook. The sharp price action highlights rising bullish sentiment toward the stock, with trading volumes also spiking substantially.

Indian equity markets opened in the red on Tuesday, snapping a two-day rally as investors booked profits in information technology stocks and tracked weak cues from major Asian bourses. Both the Sensex and Nifty declined sharply in early trade, reflecting caution ahead of key domestic macroeconomic data releases, including industrial production and GDP figures. The selloff was exacerbated by a muted global backdrop, with several Asian indices slipping and U.S. markets closed for Memorial Day.

In a landmark move, Zomato Ltd has officially changed its corporate name to Eternal Ltd, effective from March 20, following approval from the Ministry of Corporate Affairs. While the company’s food delivery business brand remains unchanged, the name change reflects the evolving strategic direction of the firm, especially with Blinkit now playing a central role in its future growth.