Zomato: revenue 2023 | Statista (2024)

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Zomato: revenue 2023 | Statista? ›

Zomato reported a revenue of over 86 billion Indian rupees in financial year 2023. The food service company made the chunk of its revenue from food deliveries. While Zomato was a dominant market player, Swiggy was its closest competitor in recent years.

Number of orders on Zomato FY 2019-2023

Zomato had an order volume of over 647 million in financial year 2023. This was a 21 percent increase compared to the previous year when Zomato received over 535 million orders.

According to Goldman Sachs, the FY24 results from Prosus suggest Zomato has expanded market share across both food delivery and quick commerce segments, with overall GOV scale of Zomato more than 30% larger than that of Swiggy's.

Future Growth

Zomato is forecast to grow earnings and revenue by 43.9% and 22% per annum respectively. EPS is expected to grow by 42.2% per annum. Return on equity is forecast to be 13.5% in 3 years.

For the full year, sales was INR 121,140 million compared to INR 70,790 million a year ago. Revenue was INR 129,610 million compared to INR 77,610 million a year ago. Net income was INR 3,510 million compared to net loss of INR 9,710 million a year ago.

Zomato Share Price Highlights : On the last day of trading, Zomato's stock opened at ₹202 and closed at ₹198.85. The high for the day was ₹204.65, while the low was ₹200. The market capitalization was ₹175,834.12 crore. The 52-week high was ₹207.3, and the 52-week low was ₹73.05.

Zomato has 27 institutional investors including Info Edge Ventures, Ant Group and Kora. Sequoia Capital is the largest institutional investor in Zomato.

Deepinder Goyal, the founder and CEO of Zomato, which is funded by Ant Group Co., Temasek Holdings Pte., and Goldman Sachs Group Inc., said that it will appoint CEOs to at least four businesses following the acquisition of grocery delivery service Blinkit.

What is the highest salary in Zomato? The highest-paying job at Zomato is a Marketing Head with a salary of ₹96.0 Lakhs per year. The top 10% of employees earn more than ₹20 lakhs per year. The top 1% earn more than a whopping ₹56.66 lakhs per year.

Is Zomato overvalued? ›

Estimated DCF Value of one ZOMATO stock is 43.91 INR. Compared to the current market price of 197.25 INR, the stock is Overvalued by 78%.

“There is no doubt that we have been in a valuation bubble,” Mahesh Murthy, co-founder of investment firm Seedfund, told Quartz. “Specifically to Zomato, valuing it at even half-a-billion is ambitious. In the businesses that Zomato is in, the revenue comes from restaurants who advertise and the food delivery part.

A Zomato spokesperson clarified that Instant was not shutting down but the company was in the process of rebranding the service by working on a new menu. “All finishing stations remain intact, and no people are impacted by this decision,” the company spokesperson was quoted as saying by Entrackr.

Zomato recently unveiled its 2023 food-ordering trends, showcasing biryani and pizza as the dominant choices with over 10.09 crore and 7.45 crore orders, respectively. Noodle bowl orders secured the third spot with over 4.55 crore, equivalent to circling the earth's circumference 22 times.

On the lines of rising scale, Zomato's profits also jumped 3.8X to Rs 138 crore in Q3 against Rs 36 crore in the previous quarter. Last year in the same quarter (Q3 FY23), it booked Rs 347 crore in losses. On a unit level, the company spent Rs 1.03 to earn a rupee in Q3 of FY24.

Biryani is the most-ordered dish on Zomato in 2023.

The year's biryani orders in 2023 are enough to fill eight Qutub Minars in Delhi and the pizzas can cover an area of more than five Eden Garden cricket stadiums in Kolkata, Zomato said. Noodle bowls came third with over 4.55 crore.

Zomato has a consensus target price of ₹135.88 per share. The stock has risen 150% in 2023, and is up over 10% so far this year. After an extremely strong 2023, the foreign brokerage expects relatively muted business and stock performance in 2024.

Zomato Q3 Results: Profit skyrockets 283% QoQ to Rs 138 crore, beats estimates. Zomato Q3 Results: Net profit jumped nearly 4x (283%) quarter-on-quarter (QoQ) to Rs 138 crore. An ET Now poll saw the figure around Rs 36 crore. The company had posted a loss of Rs 34.7 crore in the last year period.

Projections indicate Zomato is poised to deliver robust year-on-year growth of 70 percent and 41 percent in FY24 and FY25, respectively.

According to analysts, ZOMATO price target is 221.40 INR with a max estimate of 300.00 INR and a min estimate of 100.00 INR.