Eternal Shares Jump 20% in Two Sessions, CEO Deepinder Goyal’s Wealth Grows by ₹1,600 Crore
Shares of Eternal, the holding company of Zomato and Blinkit, surged close to 15% on July 22, reaching a record high of ₹311.25 on the NSE.
Eternal Share Movement:
The stock of Eternal, which owns popular platforms Zomato and Blinkit, rose sharply by nearly 15% on July 22 to touch a lifetime high of ₹311.25 on the National Stock Exchange. This sharp upward move extended a two-day rally, taking the total gain to over 20% and adding approximately ₹40,000 crore to the company’s market capitalisation within just 48 hours.
The sharp spike was primarily triggered by robust earnings for the June quarter, which renewed investor sentiment.
Deepinder Goyal’s Net Worth Sees Significant Upsurge
The rally in Eternal’s shares resulted in a major jump in the personal fortune of its CEO, Deepinder Goyal, who holds 36.94 crore shares in the firm. When the company announced its Q1 earnings, the stock was trading at ₹266. With the share price touching ₹311 in intraday trading, Goyal’s net worth grew by over ₹1,600 crore.
By market close, the stock settled at ₹299.75, posting a 10.32% gain for the day. At this closing price, Goyal’s total holding in Eternal was valued at around ₹11,071.86 crore as on July 22.
Thanks to this rally, Eternal’s market valuation went past ₹3 lakh crore, overtaking over 20 Nifty 50 companies including Wipro, Tata Motors, JSW Steel, Nestle India, Coal India, Bajaj Auto, Asian Paints, Eicher Motors, Tech Mahindra, and Cipla.
Profit Slips But Revenue Climbs
Interestingly, this rise in stock value came despite the company reporting a sharp 90.12% year-on-year drop in consolidated net profit for Q1 FY26, which stood at ₹25 crore — a steep fall from ₹253 crore in the corresponding quarter last year.
However, revenue from operations surged 70.4% year-on-year to ₹7,167 crore, largely due to a strong performance by Blinkit, the group’s quick commerce division. The company’s B2C Net Order Value (NOV) jumped 55% YoY to ₹20,183 crore, with Blinkit outperforming the food delivery business for the first time. Adjusted consolidated revenue also grew 67% YoY to ₹7,563 crore.
Despite impressive revenue growth, earnings were dented by continuous investments. Adjusted EBITDA fell 42% year-on-year to ₹172 crore, owing to higher spending on Blinkit and the growing “going-out” segment. Food delivery margins remained stable at 5% of NOV, despite seasonal weakness.
Goyal’s Outlook and Business Plans
Commenting on the quarter’s performance, CEO Deepinder Goyal said:
“I believe the year-on-year growth is now likely to stabilise as we emerge from the demand dip that began in late 2024. For FY26, achieving over 20% NOV growth seems unlikely, but we expect to stay above 15% and hopefully approach 20% in FY27.”
During Q1, Blinkit added 243 new locations and witnessed a 127% increase in NOV on a YoY basis. The company has started shifting Blinkit toward an inventory-first model, aiming to improve both profitability and revenue. Performance in Tier 2 and Tier 3 cities was also described as promising.
In parallel, Eternal’s “going-out” division — which now sees annualised NOV of ₹8,000 crore — continues to expand, supported by recent acquisitions in event ticketing and entertainment. The firm concluded the quarter with a cash reserve of ₹18,857 crore.
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