RECIPE FOR SUCCESS

Once dismissed as a risky bet, Zomato has defied expectations. After hitting rock bottom in July 2022, the company's share price has reached record highs, and it has stormed into the Top 50 on the BT500 list

- PALAK AGARWAL

A GRAND FEAST

• Zomato’s gross order value in the September quarter of FY25 for its B2C business stood at ₹17,670 crore, showing a 55% year-on-year growth

• The adjusted revenue of the company has shown 58% year-on-year growth, standing at ₹5,127 crore. In the previous quarter, the adjusted revenue was ₹4,520 crore

• Adjusted Ebitda in Q2 was ₹330 crore and continues to show improvement with an increase in food delivery margins. The quick commerce business reached break-even. It had turned Ebitda positive in March 2024

IN JULY 2022, just a year after debuting in the stock exchange at ₹115, Zomato’s share price nosedived to below ₹50. Its future seemed uncertain. A nonprofitable start-up hitting the stock market was a bold move—and, to some, even reckless. Investors braced for losses, shaking their heads at what felt like the bubble ready to burst.

Fast forward to 2024, and the tables have turned. In December 2024, Zomato’s stock price soared to an all-time high of ₹304.5 per share. It is because of its remarkable turnaround that secured its entry into the Top 50 in the BT500 list of India’s Most Valuable Companies.

Who could have foreseen that what began as Foodiebay, a modest online restaurant directory, would evolve into one of India’s most coveted start-ups, shaping the nation’s business landscape under Founder, Managing Director and Chief Executive Officer Deepinder Goyal?

THE GROWTH STORY