Eternal Limited

Is Eternal Limited the same as Zomato?
Yes. Eternal Limited is the new name of Zomato Limited, effective March 20, 2025. The company was originally founded as Foodiebay in 2008, renamed to Zomato in 2010, and renamed again to Eternal Limited in 2025. The Zomato brand continues to be used for the food delivery platform and app, while Eternal is the parent company that houses Zomato, Blinkit, District, and Hyperpure.

Is Eternal Limited publicly traded?
Yes. Eternal Limited is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) under the ticker symbol ETERNAL (changed from ZOMATO in 2025). The company went public in July 2021 with an IPO that was heavily oversubscribed.

Who founded Zomato/Eternal?
The company was founded in 2008 by Deepinder Goyal and Pankaj Chaddah as Foodiebay, an online restaurant guide and food delivery platform. It was renamed to Zomato in 2010 and to Eternal Limited in 2025. Deepinder Goyal continues as CEO.

Where is Eternal Limited headquartered?
Eternal Limited is headquartered in Gurugram, Haryana, India. The company has major operational centers across Indian cities.

What businesses does Eternal operate?
Eternal operates four primary businesses: Zomato (food delivery), Blinkit (quick commerce with 10 to 30 minute delivery), District (going-out including dining and events), and Hyperpure (B2B restaurant supplies). The company also has newer initiatives including Bistro (10-minute food delivery) and Nugget.

What is Blinkit?
Blinkit is Eternal's quick commerce platform, providing rapid delivery of groceries and essentials within 10 to 30 minutes. It was acquired in August 2022 for approximately $568 million (formerly known as Grofers). Blinkit operates 2,443 dark stores across India and has become Eternal's largest B2C business by net order value (NOV), surpassing Zomato's food delivery NOV in Q1 FY26.

What is Eternal's revenue?
For FY2025 (ended March 2025), Eternal reported revenue from operations of Rs 20,243 crore (approximately $2.4 billion), up 67% from Rs 12,114 crore in FY2024. Net profit was Rs 527 crore (up 50% from Rs 351 crore). Adjusted EBITDA was Rs 1,079 crore. For Q1 FY27 (June 2026), Adjusted Revenue was Rs 20,648 crore (up 173% YoY), with B2C NOV of Rs 31,120 crore.

Who is the CEO of Eternal?
Deepinder Goyal is the CEO of Eternal Limited. In 2025, Goyal introduced a "Rotational Leadership" model where each business unit CEO serves a time-bound term of typically two years. The food delivery business is now led by Aditya Mangla, Blinkit by Albinder Dhindsa, District by Rahul Ganjoo, and Hyperpure by Rishi Arora.

Eternal has implemented sustainability initiatives focused on sustainable delivery practices and responsible packaging. The company has promoted eco-friendly packaging options through its restaurant partners and has explored electric vehicle adoption for delivery fleets.

The company's primary ethical challenges relate to gig worker conditions. Delivery partners are classified as independent contractors rather than employees, which has been a subject of debate in India's gig economy. Eternal has faced criticism over delivery partner wages, working conditions, and the lack of benefits typically associated with formal employment. The company has implemented some programs to address these concerns, including insurance coverage and incentive structures.

Eternal's shift to an inventory-led model in quick commerce has implications for sustainability, as it involves greater control over the supply chain but also requires more warehouse space and energy consumption for dark store operations.

The company has also faced scrutiny over restaurant commission rates. Restaurants have raised concerns about high commission fees charged by food delivery platforms, and Eternal has had to balance its revenue needs with restaurant partner satisfaction.

• ET Awards for Corporate Excellence 2024: Adjudged Emerging Company of the Year
• Historic Milestone (Q1 FY26): Blinkit's NOV surpassed Zomato's food delivery NOV for the first time, making quick commerce the largest B2C business
• B2C Annualized NOV: B2C businesses generate nearly $10 billion in annualized NOV
• Largest Quick Commerce Network: Blinkit operates 2,443 dark stores, the largest network in India's quick commerce space
• Successful IPO (2021): One of India's most successful technology IPOs, listed on both NSE and BSE
• QIP Fundraise (FY25): Raised Rs 8,446 crore through Qualified Institutions Placement, strengthening the balance sheet

Gig Worker Classification: Eternal classifies its delivery partners as independent contractors rather than employees. This classification has been challenged by labor rights advocates who argue that delivery partners should receive benefits such as minimum wage guarantees, health insurance, and paid leave. The Indian government has been considering regulations for gig economy workers, which could significantly impact Eternal's cost structure.

Restaurant Commission Disputes: Restaurants have raised concerns about the high commission rates charged by Zomato, typically ranging from 18% to 25% of order value. During the COVID-19 pandemic, the National Restaurant Association of India (NRAI) launched campaigns against high commissions, leading to negotiations and some temporary reductions. The tension between platform economics and restaurant profitability remains an ongoing issue.

Competition Commission of India (CCI) Investigations: Eternal has faced scrutiny from the CCI regarding alleged anti-competitive practices in the food delivery market. The CCI has investigated whether Zomato and Swiggy engaged in anti-competitive behavior, including preferential treatment for certain restaurant partners and exclusive delivery arrangements.

Data Privacy Concerns: As a platform handling millions of user transactions, Eternal collects significant amounts of customer data including location, payment information, and ordering behavior. The company must comply with India's Digital Personal Data Protection Act and other privacy regulations. Any data breach or misuse of customer data could result in significant penalties and reputational damage.

Food Safety and Hygiene: Eternal is responsible for ensuring that restaurants on its platform comply with food safety standards set by the Food Safety and Standards Authority of India (FSSAI). The company has implemented verification processes for restaurant partners, but incidents of food safety violations at partner restaurants have occurred, creating reputational risk.

Profitability Volatility: Eternal's profit has been highly volatile. Q1 FY26 net profit dropped 90% YoY to Rs 25 crore due to investments in quick commerce expansion. The company's strategy of prioritizing growth over profitability has drawn criticism from some investors, while others support the long-term vision.

Paytm Insider Trading Allegations: In 2022, SEBI (Securities and Exchange Board of India) investigated alleged insider trading by Zomato employees related to the acquisition of Blinkit. The investigation centered on whether employees traded Zomato shares based on non-public information about the acquisition before it was announced.

Quick Commerce Safety Concerns: The rapid expansion of Blinkit's dark store network and the pressure to deliver within 10 to 30 minutes has raised safety concerns for delivery partners. The emphasis on speed has led to accidents and injuries among delivery personnel, drawing criticism from labor rights organizations.