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ICICI Securities Report
Zomato’s Red Herring Prospectus hints at a continued sharp recovery across key operational metrics in March:
restaurant count,
monthly active users,
monthly transacting users,
number of orders and
gross order value.
The robust increase in signed up restaurants on delivery/discovery platforms (~16,000/40,000) is the most interesting update – given it comes amid negative news flow about ‘perceived’ dissatisfaction of ‘some’ restaurants with Zomato.
End March, restaurant count on delivery platform was ~5,000 more than even the pre-Covid-19 peak.
Despite office resumption to an extent in March, average order values remained stable at ~Rs 395.
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