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Eternal Ltd Founder Deepinder Goyal will step down as chief executive and managing director with effect from the close of business on 1 February, handing over the role to Albinder Singh Dhindsa, the current head of its quick-commerce arm Blinkit, in a significant leadership transition at the Zomato parent.

The announcement came alongside the company’s quarterly results, which showed a sharp rebound in profitability, underscoring a moment of strategic change as Eternal scales its food delivery and quick-commerce businesses.

Goyal, who founded the business and led its evolution from a single food-delivery app into a multi-vertical platform under the Eternal umbrella, said his decision reflects a desire to pursue “higher-risk exploration and experimentation” outside the structure of a public company.

In a letter to shareholders, he wrote that such ideas “are better pursued outside a public company like Eternal,” suggesting that the constraints of quarterly performance and market expectations left less room for the kind of bold innovation he wants to explore.

His transition to vice chairman, subject to shareholder approval, clears the way for a new CEO with day-to-day operational focus.

Eternal has appointed Albinder Singh Dhindsa, currently CEO of its quick commerce arm Blinkit, to take the helm. Dhindsa has been credited with steering Blinkit through a period of consolidation and improved unit economics, and his promotion signals a continuing emphasis on execution and scale.

“I have found myself drawn to a set of new ideas that involve significantly higher-risk exploration and experimentation,” Goyal wrote. “These are the kinds of ideas that are better pursued outside a public company like Eternal. … Eternal deserves to remain focused, and disciplined, while exploring new areas of growth that are relevant to its current line of business.”

Leadership Change

The timing of the leadership shift comes as Eternal reported strong growth in its most recent quarterly results. For the quarter ended December 2025, the company posted a consolidated net profit of ₹102 crore ($11.1 million), a 73% year-on-year increase, while revenue from operations surged 201% to ₹16,315 crore.

The performance outpaced many market expectations, highlighting Eternal’s expanding footprint in both food delivery and quick commerce.

The results mark a notable turnaround from earlier performance swings. In the second quarter of fiscal 2026, Eternal saw steep revenue growth but a sharp drop in profit as it invested heavily in expanding its Blinkit and other segments.

Still, the most recent quarter’s combined margin improvement and double-digit revenue gains suggest that the company’s aggressive multi-vertical strategy may be beginning to pay off.

Analysts have pointed out that while revenue growth brings scale, the path to consistent profitability remains a balancing act. Eternal’s diversified portfolio spanning food delivery, quick commerce, grocery supply for restaurants (Hyperpure) and “going out” experiences through District means multiple levers for growth but also multiple cost centers that can weigh on near-term results.

The company’s name change from Zomato to Eternal in 2025 was intended to reflect that broader strategic shift beyond traditional food delivery into a holistic ecosystem of services.

The rebrand, approved by shareholders, positioned the parent company as a multi-vertical platform house, with each major business operating under its own CEO but aligned under a central strategy.

Dhindsa Takes the Reins

Dhindsa’s appointment as CEO of Eternal is notable for his track record at Blinkit, an increasingly important growth engine for the group. Since its acquisition in 2022, Blinkit has pursued rapid delivery of groceries and essentials, challenging traditional delivery models with an inventory-based approach that sacrifices margin for speed and customer retention.

Dhindsa’s tenure has included efforts to improve efficiency, refine pricing strategy and drive adoption in key urban markets.

Investors and industry observers have watched Blinkit’s performance closely, as its economics could signal whether quick commerce can scale profitably in India’s competitive landscape.

Dhindsa’s elevation suggests that Eternal’s board sees his operational experience as critical to integrating the group’s diverse units while managing the next phase of growth.

Strategic Priorities

Under Goyal, Eternal’s strategy has focused on building a platform capable of capturing multiple revenue streams across consumer and business segments. Zomato remains a core brand in food delivery, with millions of orders daily, while Blinkit and Hyperpure address the rapidly growing grocery and B2B supply markets.

District, the “going out” business unit, targets experiential commerce and community engagement.

The company’s quarterly results reflect the fruits of that diversification: revenue expanded sharply, even as margins fluctuated with investment levels. A stronger profit in the latest quarter suggests that some of Eternal’s strategic bets are beginning to stabilize.

However, market reactions to past earnings have been mixed. Earlier results saw sharp swings in share price on profit volatility and aggressive spending bets, highlighting investor sensitivity to execution risk in high-growth tech platforms. Analysts suggest that Eternal’s ability to sustain growth without eroding margins will be a key test for Dhindsa’s leadership.

Goyal’s Legacy

Goyal’s exit from the CEO role closes a significant chapter in the company’s evolution. Goyal, co-founder of Zomato, led the company through its IPO, navigated fierce competition in India’s food delivery wars, and oversaw multiple strategic expansions, including the Blinkit acquisition and the rebranding to Eternal.

In shareholder communications, Goyal framed his move as a pursuit of innovation beyond the constraints of public-company leadership. By stepping into a vice-chairman role, he retains a strategic connection to the business while freeing himself to explore riskier, potentially transformative ideas outside the corporate structure.

Investors have taken interest in how Goyal’s continued presence on the board might influence long-term vision while allowing Dhindsa and the leadership team to handle daily operations.

Eternal’s board said in a meeting announcing both the results and the leadership transition that the company remains committed to disciplined execution and shareholder value creation.

Eternal’s leadership changes occur against a backdrop of rapid consolidation and transformation in India’s tech and delivery sectors. Competitors in food delivery and quick commerce face similar pressures to innovate while maintaining unit economics, forcing strategic pivots and leadership recalibrations across the industry.

Moreover, talent churn and executive departures have been notable in the sector. Eternal itself has seen changes in senior leadership roles over the past year, with some exits and internal moves as the company adjusts to its wider operational scope.