Deepinder Goyal resigns as Eternal Group CEO effective February 1, 2026 as Q3 FY26 profit rises 73 percent and revenue surges 201 percent.
TheInterviewTimes.com, New Delhi | January 21, 2026 8:02 p.m. IST
Key Highlights
- Deepinder Goyal resigns as Eternal Group CEO and Managing Director effective February 1, 2026
- Blinkit CEO Albinder Dhindsa appointed as new Group CEO, subject to board approvals
- Eternal posts 73 percent year on year jump in Q3 FY26 net profit to Rs 102 crore
- Revenue from operations surges 201 percent to Rs 16,315 crore driven by quick commerce growth
- Goyal to take on Vice Chairman role pending shareholder approval
Deepinder Goyal, the founder who transformed Eternal Limited from a restaurant discovery platform into one of India’s largest food and commerce companies, has announced his decision to step down as Group CEO and Managing Director.
The resignation will take effect from February 1, 2026, marking a major leadership transition at the company formerly known as Zomato.
The announcement coincided with Eternal’s Q3 FY26 earnings release, which reflected robust financial momentum across its businesses. Goyal will continue to remain closely associated with the company in a strategic role, subject to shareholder approval.
Strong Q3 FY26 Results Set the Context
Eternal reported consolidated net profit of Rs 102 crore for the third quarter of FY26, registering a 73 percent increase compared to Rs 59 crore in the same quarter last year. Revenue from operations jumped sharply to Rs 16,315 crore, representing a year on year growth of 201 percent.
The company attributed this surge largely to the rapid expansion of its quick commerce arm Blinkit, along with steady performance from food delivery and improving margins in its B2B supply chain business.
Management highlighted that multiple verticals are now contributing meaningfully to profitability, a milestone for the group.
An important update on leadership changes at Eternal. pic.twitter.com/CALn2QQFWE
— Deepinder Goyal (@deepigoyal) January 21, 2026
Why Deepinder Goyal Stepped Down
In a detailed letter to shareholders, Goyal explained that his decision was driven by a growing desire to pursue bold and experimental ideas that do not align with the risk appetite expected of a listed public company. He noted that many of the concepts he wishes to explore require high risk execution and long gestation periods.
Goyal also acknowledged the intense expectations placed on public company CEOs in India. According to him, Eternal now needs focused and predictable execution in its existing businesses rather than experimentation with unproven ventures. By stepping aside from daily operations, he believes the company can benefit from stable leadership while he contributes at a strategic level.
As part of the transition, Goyal confirmed that all his unvested employee stock options will return to the company’s ESOP pool. He emphasized that this decision ensures his long term interests remain aligned with those of public shareholders.
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Albinder Dhindsa Takes Charge as Group CEO
Blinkit CEO Albinder Dhindsa has been named as the new Group CEO of Eternal. Dhindsa has played a pivotal role in building Blinkit into the group’s fastest growing business since its acquisition in 2022.
Under his leadership, Blinkit achieved adjusted EBITDA breakeven and reported a positive EBITDA of Rs 4 crore in Q3 FY26. The platform now operates over 2,000 stores across India, supported by a rapidly scaling supply chain and disciplined cost controls.
Goyal candidly acknowledged that the early phase of the Blinkit acquisition was challenging. He revealed earlier that he had asked Dhindsa to step down twice during the initial integration period due to execution difficulties. Dhindsa’s resilience and eventual success, however, have earned him the confidence to now lead the entire group.
Eternal’s Expanding Business Portfolio
Eternal rebranded from Zomato in March 2025 to reflect its evolution beyond food delivery into a broader commerce ecosystem. The group currently operates several business verticals including Zomato for restaurant discovery and food delivery, Blinkit for quick commerce, and Hyperpure for B2B restaurant supplies.
Hyperpure turned EBITDA positive during the quarter, reporting Rs 1 crore in earnings, while emerging ventures such as District and Bistro quick food continue to scale.
Management highlighted that quick commerce grew 55 percent year on year in mature markets and over 100 percent in newer cities.
Eternal has set an ambitious target of expanding Blinkit to 3,000 stores by March 2027, signaling continued investment in rapid delivery infrastructure.
Founder Legacy and Market Outlook
Goyal founded Foodiebay in 2008, which was rebranded as Zomato in 2010. The company went public in 2021, acquired Blinkit for Rs 4,447 crore in 2022, and entered the BSE Sensex in December 2024. The rebranding to Eternal, according to Goyal, symbolizes adaptability and long term reinvention.
Investors are now closely watching how Dhindsa balances growth, competition, and profitability in India’s increasingly crowded quick commerce space. Early indicators suggest improving unit economics and disciplined execution.
While Deepinder Goyal’s exit marks the end of an era in day to day leadership, his continued presence on the board ensures that the founder’s vision remains central as Eternal charts its next phase of growth.
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