Eternal founder Deepinder Goyal on Wednesday announced that he will step away from his role as group chief executive officer of Eternal, the parent company of Zomato and Blinkit, and, subject to shareholder approval, remain on the board as vice-chairman. Blinkit CEO Albinder Singh Dhindsa will take over as Eternal’s new group CEO.
In a letter to shareholders posted on X, Goyal said the transition would allow the company to remain “sharply focused and disciplined” while giving him the space to pursue higher-risk ideas that fall outside Eternal’s strategic scope.
“Of late, I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal,” Goyal said.
Goyal, who founded Zomato 18 years ago, said his long-term commitment to the company remains unchanged. “While I believe I personally have the bandwidth to continue what I am doing at Eternal, and also explore new ideas outside of it, the expectations, legal and otherwise, of a public company CEO in India demand singular focus,” he said.
Albinder Dhindsa to be the new CEO
According to the letter, operational control will now shift to Albinder Dhindsa, Blinkit’s CEO. Goyal described the Blinkit chief as a ‘battle-hardened founder’ whose ability to execute “far exceeds mine”. He credited Dhindsa with leading Blinkit from acquisition to breakeven, building its team, culture, supply chain, and operating rhythm.
Blinkit, which has emerged as Eternal’s largest growth driver, will remain Dhindsa’s top priority even as he takes over the group CEO role, the letter said. The company’s decentralised structure, under which each business unit is run by its own CEO, will continue unchanged, Goyal said.
Employee stock options
As part of the leadership transition, Goyal said all his unvested employee stock options will revert to the company’s ESOP pool, a move he said would strengthen long-term retention for future leaders without causing additional shareholder dilution. “My financial future remains meaningfully tied to Eternal, and my incentives remain aligned with long-term shareholder value creation,” he added.
Looking ahead, Goyal said he wants Eternal to become India’s most valuable company, serve a billion customers, and create livelihoods for millions of Indians. “I want Eternal to become India’s most valuable company. I want us to serve a billion customers. I want us to create the most positive impact on society. I want us to be the source of livelihoods for millions of Indians. None of that changes. This is a change in title, not in commitment towards outcomes. Eternal remains my life’s work. Thank you for your continued trust and support,” he wrote.
Eternal Q3 results
Minutes before Goyal’s resignation post, Eternal published its Q3 results. The online delivery firm, which operates food delivery unit Zomato and quick commerce firm Blinkit, has reported that revenue from operations stood at Rs 16,315 crore, up 201.85%, from Rs 5,405 crore reported in Q3FY25.
On a sequential basis, the company has reported an increase of 56.92% in its net profit from Rs 65 crore reported in Q2FY25. Revenue has increased 20.05% QoQ from Rs 13,590 crore reported in Q2FY26.
Eternal share price
Eternal’s share price has jumped to 4.98% as of Wednesday’s market closing. The stock is down 1.19% in the last 1 month. However, it is up 32.03% in 2025.