Eternal CEO Deepinder Goyal Resigns, Blinkit Chief Albinder Dhindsa to Take Over

Eternal’s latest quarterly filing carried a significant leadership update, confirming a transition at the top of the company. Founder Deepinder Goyal will step down as Director, Managing Director and Chief Executive Officer effective the close of business on February 1, 2026. Albinder Singh Dhindsa has been appointed Chief Executive Officer with effect from February 1, 2026.

The board has also recommended Goyal’s appointment as Director and Vice Chairman, subject to shareholder approval, signalling continuity in strategic oversight even as executive leadership changes.

"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 in a letter to shareholders.

Eternal Q3

Eternal reported strong headline numbers for the third quarter, driven by a strategic shift toward owned quick-commerce inventory and improved margins in its food-delivery business. The company’s Consolidated Adjusted Revenue rose sharply to ₹16,692 crore, marking a 190% year-on-year increase and a 19% sequential gain, while Consolidated Adjusted EBITDA grew to ₹364 crore, up 28% YoY and 63% QoQ, underscoring continued profitability momentum.

Management cautioned that the outsized revenue growth was largely influenced by an accounting change following the move to owned inventory. On a like-for-like basis, revenue growth was estimated at around 64% year on year, indicating robust underlying demand and operational improvements even after adjusting for the accounting impact.

Blinkit's Performance

Blinkit, Eternal’s quick-commerce arm, posted a strong operating quarter, delivering 121% year-on-year growth in net order value and 14% sequential growth. Crucially, the business turned Adjusted EBITDA positive at ₹4 crore, marking an important milestone as scale and efficiency gains began to flow through the P&L.

Management attributed the improvement to tighter supply-chain execution, a more favourable category mix and rising operating leverage as order density increased.

The shift to an owned-inventory model, which now accounts for around 90% of NOV, has also materially changed revenue recognition. Over time, management expects this model to add roughly 100 basis points to group-level margins, with about half of that benefit already reflected in the current quarter’s numbers.

Goyal's Other Ventures

Besides Eternal, Goyal has played a founding role in ventures like Continue, Temple and LAT Aerospace.

Continue, formally known as Continue Research, is a philanthropic research platform and seed fund launched in 2024 to explore human longevity and biological health.

Goyal has committed $25 million of his personal capital to the initiative, which operates independently of Eternal. The platform is built around the “Gravity Ageing Hypothesis,” which posits that gravity-induced reductions in cerebral blood flow are a primary driver of ageing. A key feature of Continue is its open-science approach, with all research outputs intended to be published as open-source and freely accessible.

Similarly, Temple is a health-tech startup incubated under Continue Research and focused on deep diagnostics. Its core product is an experimental, non-invasive wearable sensor placed on the temple to monitor cerebral blood flow in real time.

The device is designed to test the hypothesis that sustaining optimal brain blood flow can preserve cognitive and physical function over longer periods. As of early 2026, Temple remains in the experimental and research phase and is not yet commercially available.

LAT Aerospace represents Goyal’s foray into aviation. Founded in January 2025 and co-founded with former Zomato executive Surobhi Das, the startup aims to reimagine regional air connectivity in India through what it describes as “buses in the sky.”

The company is developing 24-seater Short Take-Off and Landing (STOL) aircraft capable of operating from compact “air-stops” no larger than parking lots, bypassing conventional airport infrastructure to connect underserved Tier-2 and Tier-3 cities.