Foodtech giant Zomato has made history by becoming the first Indian startup to join the Bombay Stock Exchange (BSE) Sensex 30. The company replaces JSW Steel Limited in the benchmark index, which tracks the top 30 companies in India.
Zomato’s inclusion in the Sensex comes after impressive growth in its stock performance. Over the past year, Zomato’s stock has seen a remarkable rise—gaining 124.79% year-to-date, 114.29% in the last year, and 38% in the past six months. However, following the announcement of its inclusion, Zomato’s stock saw a minor dip of 3.15% (as of 12:28 PM), trading at Rs 278.70 on the Bombay Stock Exchange, with a market capitalization of Rs 2.68 lakh crore (roughly $31.9 billion).
Zomato’s strong fiscal performance has further fueled its ascent. In the second quarter of the current financial year, the company posted an impressive 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore, up from Rs 2,848 crore in Q2 FY24. The company also reported a 4.8X increase in net profit to Rs 176 crore for the quarter ending September.
In comparison, its key competitor Swiggy saw Rs 3,601 crore in revenue and a net loss of Rs 625 crore during the same period. Despite this, Swiggy, which recently listed, is traded at Rs 592.8 per share and has a market capitalization of Rs 1,32,695 crore (around $15.8 billion).
In addition to its strong financial results, Zomato also secured $1 billion in funding from qualified institutional investors (QIIs) last month. This funding strengthens the company’s financial position and prepares it for future investments, ensuring that Zomato remains competitive in the rapidly evolving foodtech space.
For Zomato, joining the Sensex 30 represents more than just financial success. It validates the company’s high-risk strategy, which includes bold acquisitions such as Blinkit, innovative communication strategies, and investments in other startups. By consistently pushing the boundaries, Zomato has managed to secure lofty valuations and meet investor expectations, solidifying its place among India’s most successful companies.
