Eternal Shares Surge 20% In 2 Days, CEO Deepinder Goyal's Wealth Up by Rs 1600 Crore

News18

2 days ago

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Shares of Eternal, parent company of Zomato and Blinkit, surged nearly 15% on July 22, hitting an all-time high of Rs 311.25 on the NSE.
Eternal Share Price: Shares of Eternal, the parent company of Zomato and Blinkit, soared nearly 15% on July 22 to hit an all-time high of Rs 311.25 on the NSE. The sharp rise extended a two-day rally, pushing the stock up over 20%, and adding nearly Rs 40,000 crore to the company's market value in just two sessions.
The rally came on the back of a strong June quarter earnings report, which boosted investor confidence.
CEO Deepinder Goyal Sees Major Wealth Boost
The surge in share price led to a big jump in the net worth of Eternal CEO Deepinder Goyal, who owns 36.94 crore shares in the company. When the earnings were announced, Eternal shares were at Rs 266. With the stock reaching Rs 311 during today's trade, Goyal's wealth increased by more than Rs 1600 crore.
By the end of the session, Eternal shares closed at Rs 299.75, up 10.32% for the day. At this closing price, Goyal's stake was valued at approximately Rs 11,071.86 crore as of July 22.
With this rally, Eternal's market cap crossed Rs 3 lakh crore, putting it ahead of over 20 Nifty 50 companies such as Wipro, Tata Motors, JSW Steel, Nestle India, Coal India, Bajaj Auto, Asian Paints, Eicher Motors, Tech Mahindra, and Cipla.
The spike came despite the company reporting a steep 90.12% year-on-year drop in consolidated net profit for the June 2025 quarter (Q1 FY26), which stood at Rs 25 crore compared to Rs 253 crore in the same period last year.
While profits dipped sharply, revenue from operations jumped 70.4% year-on-year to Rs 7,167 crore, primarily driven by strong growth in the company's quick commerce arm, Blinkit. Eternal's B2C Net Order Value (NOV) surged 55% YoY to Rs 20,183 crore, with Blinkit surpassing food delivery for the first time. Consolidated adjusted revenue rose 67% YoY to Rs 7,563 crore.
Despite top-line growth, profitability was impacted by ongoing investments. Adjusted EBITDA declined 42% YoY to ₹172 crore, reflecting higher spends on Blinkit and the company's expanding 'going-out" segment. Food delivery margins held steady at 5% of NOV, despite seasonal softness.
CEO Deepinder Goyal acknowledged the challenges but expressed cautious optimism:
'I think the YoY growth is likely to bottom out now as we recover from the demand slowdown we started seeing in late 2024. For FY26, it looks unlikely that the business will deliver 20%-plus NOV growth, but we should be north of 15% and hopefully trending toward 20% in FY27."
During the quarter, Blinkit added 243 new stores and saw its NOV rise 127% YoY. The company also began transitioning Blinkit to an inventory-led model, which is expected to enhance both margins and revenue. Profitability in smaller cities was described as encouraging.
Meanwhile, the going-out vertical — now a Rs 8,000 crore annualized NOV business — continues to expand, bolstered by recent acquisitions in ticketing and events. Eternal ended the quarter with a cash balance of Rs 18,857 crore.
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