In Q4FY26, analysts from Nuvama Institutional Equities and Elara Capital anticipate a mixed performance from new-age tech companies, particularly Swiggy and Eternal Ltd. Eternal is expected to achieve a revenue of approximately ₹17,600 crore, reflecting a 201.7% year-on-year increase. Its EBITDA is projected to rise to ₹478 crore, with margins improving to 2.7%. Conversely, Swiggy is forecasted to generate around ₹6,555 crore in revenue, up 48.6% YoY, but it will continue to face EBITDA losses, narrowing to approximately ₹(675.6) crore. Despite these losses, Swiggy is making strides toward profitability with improving margins. Both companies are likely to benefit from a robust growth in Gross Order Value (GOV) of about 19-20% year-on-year, driven by a shift in consumer demand towards quick-service restaurants. However, analysts warn that macroeconomic uncertainties and competitive pressures may impact their performance. Overall, while Eternal leads in profitability metrics, Swiggy shows potential for margin recovery as it navigates the challenging landscape.