Eternal shares fell 4.88% to Rs. 262.45 today after the initial rally of 7% on CEO Deepinder Goyal’s resignation.
Goyal surrenders ESOPs worth about Rs. 912 crore, expanding the company’s stock option pool.
Eternal Q3 results showed a growth of 72.88% to Rs. 102 crore in net profit as the company’s revenue tripled to Rs. 16,135 crore.
Zomato-parent Eternal share price slipped 4.88% today (Jan 23) to Rs. 262.45. The stock volatility continued amid investor caution following CEO Deepinder Goyal’s resignation and the company’s latest quarterly results.
The stock opened at Rs. 276.95. It reached a record high of Rs. 277.00 and a low of Rs. 261.70 during intraday trading. The trading volume stood at over 46.5 million shares, with a market capitalisation of Rs. 2.52 lakh crore.
Here’s an in-depth Eternal share price analysis based on Moneycontrol data, capturing each news related to the functioning of the company.
After stepping down as CEO, Goyal, as part of his transition, will surrender his employee stock options (ESOPs). These are worth around Rs. 900-1,000 crore. According to CFO Akshant Goyal, this addition of 3.3 crore shares will expand the company’s ESOP pool beyond the current 20 crore shares.
This would allow the firm to maintain long-term retention incentives without immediate additional dilution. Based on today’s Eternal share price of Rs. 276.50, these surrendered ESOPs are valued at roughly Rs. 912.45 crore.
Eternal share price traded just above the lower circuit limit of Rs. 248.35, and below the 52-week high of Rs. 368.45 at the time of writing. The beta stood at 1.31, indicating moderate volatility relative to the market. The TTM EPS was 0.24, reflecting a sharp 67% year-on-year decline.
71% of the analysts on Moneycontrol recommended a ‘Buy’ rating for Eternal stock. The other 19% gave it an ‘Outperform’ rating, 10% suggested ‘Sell.’ The immediate key resistance and support levels for the shares are at Rs. 295.58 and Rs. 265.63.
Eternal share price chart on Moneycontrol dropped over 5% as of 2.10 PM:
On 21 January 2026, Eternal’s board announced that founder Deepinder Goyal resigned as CEO. Goyal also shared a post on ‘X’ addressed to shareholders. He stated his reasons for the said resignation, emphasising that he is capable of continuing his duty as CEO while exploring other innovative ideas. However, given the responsibilities a famous CEO has in the public eye, he plans to step down.
The cryptic comments in the posts made it seem that Deepinder Goyal stepped down because his desire for high-risk ventures no longer matched the ‘safe’ and ‘steady' needs of a public company. In his own words, he is being pulled toward ‘high-risk’ experiments. These include things like health tech, brain monitoring, and aerospace, areas that don’t fit into a food delivery business.
He likely realised that as a CEO of a public company, he has a legal duty to focus 100% on the business at hand. By stepping back to become Vice Chairman, he can let a more hands-on manager run the daily show. Meanwhile, he can explore those wilder ideas without worrying about Eternal’s share price or angry shareholders every time he tries something new.
Albinder Singh Dhindsa, previously CEO of Eternal’s Blinkit business, would be taking on the role of CEO effective 1 February 2026, pending shareholder approval. Here’s everything you need to know about Zomato’s parent company’s leadership changes:
| Feature | Detail |
|---|---|
| New Group CEO | Albinder Singh Dhindsa (Founder of Blinkit) |
| Goyal’s New Role | Vice Chairman and Director |
| Effective Date | February 1, 2026 |
| Goyal’s Next Ventures | LAT Aerospace, Temple, Pixxel, and Continue |
| Initial Stock Reaction | 4.9% to 5% surge, following the Q3 profit and exit announcement |
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Eternal’s Q3 FY26 results highlighted robust growth despite leadership changes. The company posted a consolidated net profit of Rs. 102 crore. This is a 72.88% increase year-on-year from Rs. 59 crore in the same quarter last year. Revenue from core operations more than tripled to Rs. 16,135 crore, compared with Rs. 5,405 crore in Q3 FY25.
The company’s EBITDA rose 127.16% to Rs. 368 crore. Although the margin slightly contracted by 70 basis points to 2.3%, exceeding analyst expectations of 2.1%. While net profit came in slightly below Bloomberg analysts’ estimates of Rs. 115 crore, revenue was close to the projected Rs. 16,224 crore.
Eternal as a company is maturing from its founding days. It’s moving from being a ‘startup run by its founder’ to a ‘big company run by professional managers.’ Experts suggest that in the long run, the market would like this change. It creates a clear split; one leader (Dhindsa) will handle the hard work of making a profit every day. At the same time, the other (Goyal) will think about the big ideas for the future.
The balance between stability and innovation is exactly what Eternal needs to stay ahead of its direct competitor, Swiggy. With leadership changes and a healthy ESOP pool, the future for Eternal's share price looks bright. However, investors will keep an eye on how the new CEO manages growth while sustaining shareholder value.
Also Read: US Stock Market Today: S&P 500 & NASDAQ Climb as Tech Leads and Economic Data Beats Expectations
1. Why did Deepinder Goyal resign as Eternal’s CEO?
Deepinder Goyal stepped down to pursue new business ventures that carry higher risks. Running a publicly listed company limits the freedom needed for such projects. He explained that these ventures require flexibility and focus, which is difficult while managing Eternal. His resignation allows him to explore these opportunities without constraints.
2. What happens to Goyal’s ESOPs after resignation?
Goyal’s unvested ESOPs, valued at around Rs. 912 crore, will be reverted to Eternal’s ESOP pool. This expands the pool by 3.3 crore shares, providing more stock options for future leaders. The move helps the company maintain long-term retention incentives. It also reduces the need for immediate shareholder dilution.
3. Who's the next CEO of Eternal?
Albinder Singh Dhindsa, who used to run Eternal's Blinkit, is becoming the new CEO. He'll start on February 1, 2026, if the shareholders approve the move. Dhindsa will be in charge while Deepinder Goyal moves to Vice Chairman. This should make the switch smooth.
4. How did Eternal do in Q3 FY26?
Eternal had a great quarter. Their combined profit went up by about 73% to Rs. 102 crore. The money they made from their usual business went up a lot, more than tripled to Rs. 16,135 crore compared to last year. EBITDA went up by about 127% to Rs. 368 crore, but their profit margins went down a bit to 2.3%. So, they're growing steadily, even with the CEO change.
5. How's Eternal's stock doing right now?
Eternal's stock closed at Rs. 262.45, down almost 5% because investors are being careful. During the day, the stock price went between Rs. 261.70 and Rs. 277, and over 46.5 million shares were traded. The company is worth Rs. 2.52 lakh crore, and its beta is 1.31, which means it's not too unstable. Most experts still think it's a good stock, even though it dropped a little.