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IPO was only ₹76; expert said buy fast, share will be rocket in IPL; ₹238 target

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Zomato Ltd (NSE: ZOMATO) Share: Zomato shares have been rising for the last year. After a dip of approximately Rs50 per share just twelve months ago Zomato shares remain an excellent buy-on-dips option for those looking to invest.

On March 26, Zomato shares opened higher and touched an intraday high of ₹183.40 per share on the NSE. Zomato shares have risen 265 percent in the last one year.

Zomato share price also hit a new high while climbing to an intraday high on Tuesday.

What Is The Brokerage’s Opinion?

According to analysts of the stock market, The market is anticipating positive quarterly results from the food-related app online company in the coming month.

He said online food demand has touched pre-Covid levels and Zomato’s business is expected to pick up due to the start of IPL 2024. 

Because during this period the demand for online food orders increases. Zomato’s quick commercial Blinkit has increased its charges by more than 200 percent. 

This will also help the online food distributor company generate more revenue in their business. The brokerage stated, “Whenever a big sports event is staged anywhere in the world it can be a trigger for other companies. The moment is now, IPL 2024 is doing similar to Zomato.”

What Is The Price Target?

An expert said that Zomato stock has given a breakout at ₹175 on a decisive basis and if it breaks the current hurdle placed at ₹204 per share then the stock can go up to ₹238 per share. 

Analyst stated, “New investors are advised to follow a buy-on-dips plan by ensuring a firm stop loss of 154 rupees. Let us tell you that Zomato’s IPO will be launched in July 2021 for Rs 76 per share.

About Zomato Ltd Company 

Zomato Ltd is an online food service platform established in the year 2010. It’s a technology platform that connects restaurants, and delivery partners to meet their diverse requirements. 

It provides the ability to search for restaurants and discover them through an app and website, offering comprehensive information about restaurants. 

Customers use the app to find, and rate restaurants and establish their foodie network for dependable recommendations. 

It’s been extended to include Online Ordering Table Reservations, the Whitelabel Platform, and the Point-of-Sale option. 

The company’s authorized capital is ₹1,517.37 crore, and it has ₹871.09 crore paid-up capital.

Fundamental Analysis of Zomato Ltd

Market Cap₹ 1,61,142 Cr.
Current Price₹ 183
52-wk High₹ 184 
52-wk Low₹ 49.0
Stock P/E
Book Value₹ 22.9
Dividend0.00 %
ROCE-5.79 %
ROE-5.91 %
Face Value₹ 1.00
P/B Value7.96
OPM-2.55 %
EPS₹ -0.02
Debt₹ 521 Cr.
Debt to Equity0.03

Zomato Ltd Share Price Target 2024 To 2030

Year1st Target2nd Target
2024₹ 165₹ 185
2025₹ 210₹ 245
2026₹ 265₹ 285
2027₹ 305₹ 315
2028₹ 326₹ 355
2029₹ 385₹ 405
2030₹ 415₹ 454
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Zomato Ltd Shareholding Pattern

FII Holding
Dec 202256.74%
Mar 202354.61%
June 202354.43%
Sept 202354.72%
Dec 202354.88%
DII Holding
Dec 20227.43%
Mar 20238.04%
June 20239.93%
Sept 202313.04%
Dec 202315.47%
Public Holding
Dec 202233.57%
Mar 202335.15%
June 202333.56%
Sept 202330.42%
Dec 202327.98%
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Others Holding
Dec 20222.26%
Mar 20232.22%
June 20232.09%
Sept 20231.82%
Dec 20231.66%

Zomato Ltd Share: Last 5 Years’ Financial Condition

To better understand how the market is performing, let’s look at the outlook of this share in the previous years. 

However, investors should be aware of the risks and the market conditions before making any investment decision.

Last 5 Years’ Sales:

2019₹ 1,313 Cr
2020₹ 2,605 Cr
2021₹ 1,994 Cr
2022₹ 4,192 Cr
2023₹ 10,608 Cr

Last 5 Years’ Net Profit:

2019₹ -1,010 Cr
2020₹ -2,386 Cr
2021₹ -816 Cr
2022₹ -1,222 Cr
2023₹ -12 Cr
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Last 5 Years’ Debt-To-Equity Ratio:

20190
20200
20210
20220
20230

Last 10 Years’ Profit Growth:

10 Years:
5 Years:
3 Years:16%
Current Year:99%

Last 10 years’ Return on Equity (ROE):

10 Years:
5 Years:-21%
3 Years:-9%
Last Year:-6%

Sales Growth Over 10 Years:

10 Years:
5 Years:72%
3 Years:40%
Current Year:70%

Conclusion

This article is a complete guide about Zomato Ltd Share. This information and forecasts are based on our research, company fundamentals, history, experiences, and technical analyses. 

Also, We have discussed the share’s prospects and growth potential in detail.

This information will help you in your further investment. 

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If you have any further queries, please comment below. We will be happy to answer all your questions. 

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