Swiggy vs Eternal: How are new-age tech cos expected to perform in Q4?

The Indian new-age tech sector is under scrutiny for profitability, with investors increasingly demanding sustainable business models. Q4FY26 results will be crucial in differentiating companies that can convert growth into profits.

Consider a selective long bias on new-age tech stocks that demonstrate improving profitability and strong unit economics, while being cautious on those still heavily reliant on cash burn.

For Indian markets, this story mainly matters for , , PAYTM and the Technology, E-commerce, Food Delivery pocket. The current signal is mixed, so traders should look for follow-through in price, volume, and sector breadth instead of reacting to the headline alone.

Watch whether the next market session confirms the setup described here: Anticipated strong year-on-year growth and leading in profitability metrics for Q4FY26. Promising revenue growth but continues to face EBITDA losses, despite improving margins. Also track volume confirmation, sector participation, and whether the move holds beyond the first reaction.

• •Eternal Ltd and Swiggy are anticipated to show strong year-on-year growth in Q4FY26.
• •Eternal Ltd is expected to lead in profitability metrics.
• •Swiggy's revenue growth is promising, but it continues to face EBITDA losses.
• •Swiggy's EBITDA margins are improving.
• •Risk flag: Continued high cash burn without clear path to profitability