The transition marks the end of Goyal’s 18-year executive tenure at the company he co-founded as a menu-scanning startup. Goyal will not be leaving the firm entirely; subject to shareholder approval, he will transition into the role of Vice Chairman and Director on the board for a five-year term.
Why Deepinder Goyal is Stepping Back
In a candid letter to shareholders, Goyal explained that the demands of a publicly listed company often conflict with his desire for “higher-risk exploration.”
- New Ventures: Goyal is reportedly drawn to experimental ideas in the longevity research (through his venture Continue) and aerospace segments (through LAT) that do not fit within Eternal’s current strategic scope.
- Singular Focus: He noted that the legal and operational expectations of a public company CEO in India demand a “singular focus” that Eternal deserves, but which limits his personal entrepreneurial experimentation.
- Unvested ESOPs: As a gesture of commitment, Goyal announced that all of his unvested Employee Stock Options (ESOPs) will revert to the company’s pool to prevent further shareholder dilution.
The Rise of Albinder “Albi” Dhindsa
The appointment of Albinder Dhindsa signals the critical importance of quick commerce to Eternal’s future.
- Proven Execution: Goyal credited Dhindsa with leading Blinkit from its acquisition in 2022 to operational breakeven in the December 2025 quarter.
- The “Centre of Gravity”: Operating decisions, day-to-day execution, and business priorities will now shift to Dhindsa, who will manage both Zomato’s food delivery and Blinkit’s rapid-delivery arms.
- Decentralized Model: Eternal will maintain its structure where each vertical (Food Delivery, Hyperpure, District) has its own CEO reporting to the Group CEO.
Eternal Q3 FY26 Financial Snapshot
The leadership change comes at a moment of financial strength for the Gurugram-based giant:
| Metric | Q3 FY26 (Dec 2025) | Growth (YoY) |
| Consolidated Revenue | ₹16,315 Crore | ~200% (Inventory model shift) |
| Net Profit | ₹102 Crore | +73% |
| Blinkit Performance | Breakeven | Strategic Milestone |
| Market Cap | ~₹2.73 Lakh Crore | Peak Valuation |
Conclusion: A Strategic Reinvention
Unlike most CEO exits driven by crisis, Goyal’s departure is a “reinvention” from a position of strength. By handing the reins to a “battle-hardened founder” like Dhindsa, Eternal aims to institutionalize its operational discipline while allowing its founder the freedom to build the “next big thing” outside the public eye.
For the markets, the move is seen as a vote of confidence in the Blinkit leadership, which has now become the primary engine of Eternal’s explosive growth.
