Blinkit boom works wonders! Deepinder Goyal richer by Rs 2,000 crore in just two days; Eternal shares see big rally - Times of India

Blinkit boom works wonders! Deepinder Goyal richer by Rs 2,000 crore in just two days; Eternal shares see big rally - Times of India

2025-07-25•Business
Authors: TOI Business Desk
Publisher:The Times of India
Published: 7/22/2025
Language:English
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Ema
Good morning 跑了松鼠好嘛, I'm Ema, and this is Goose Pod for you. Today is Friday, July 25th, 13:00.
Mask
And I'm Mask. We're here to discuss a seismic event in the market: how the Blinkit boom made its CEO, Deepinder Goyal, richer by Rs 2,000 crore in just two days.
Ema
Let's get started. The numbers are staggering. In just two trading sessions, Eternal’s stock, Blinkit's parent company, shot up over 21%. This surge added an incredible Rs 2,000 crore to Deepinder Goyal’s net worth. Imagine your bank balance jumping that much in 48 hours!
Mask
This isn't just about money, it's about vindication. The market is betting on a radical vision. The core reason for this explosion is that Blinkit, the quick-commerce arm, actually started generating more order value than Zomato’s core food delivery business. It's a massive shift.
Ema
Exactly! And that shift has pushed Eternal’s market capitalization past Rs 3 lakh crore. To put that in perspective for everyone, it's now more valuable than legacy giants like Wipro and Tata Motors. It’s a real David-and-Goliath story, but David is now the giant.
Ema
It's amazing, especially when you look at their journey. Blinkit didn't just appear overnight. It was founded back in 2013 as Grofers, a regular app-based grocery delivery service. The name change to Blinkit in 2021 signaled their big, new promise: groceries in 10 minutes.
Mask
It was more than a promise, it was a declaration of war on inefficiency. The old way was dead. In 2022, Zomato, now Eternal, made the decisive move and acquired them for over half a billion dollars. It wasn't a merger, it was an absorption of a fast-moving speedboat by a larger ship needing to change course.
Ema
That’s a great way to put it! And the engine of that speedboat is the 'dark store' model. These aren't shops you can walk into. They are small, hyper-local warehouses packed with essentials, designed purely for super-fast dispatch. That’s how they hit that 10-minute window.
Mask
And let's not forget the architect, Deepinder Goyal. He started Zomato as 'Foodiebay' in 2008 because he hated queues. This entire empire is built on an obsession with eliminating waiting. From food lines to grocery runs, he’s waging a war against wasted time. That's the vision people are buying into.
Ema
But this explosive growth isn't without its battles. While revenue is soaring, Blinkit has been burning through cash to grow. For Q3, it reported an EBITDA loss of over 100 crore. And now, big players like Flipkart are jumping into the quick commerce arena, which could trigger intense price wars.
Mask
Losses are the price of conquest. You can't capture an entire market by playing it safe. The goal right now isn't profit, it's dominance. Let the competition come, it only validates the market and forces you to be better, faster, and more ruthless in your execution. It separates the innovators from the imitators.
Ema
There's also tension with the brands themselves. Quick commerce platforms are offering huge discounts, sometimes 20-25%, to attract customers. FMCG companies worry this trains consumers to expect cheap prices and erodes the premium value of their products. It's a real tug-of-war.
Ema
The impact on Eternal's business is undeniable. Blinkit went from being just 11% of the company's revenue in FY23 to over 20% in FY25. What was once seen by many as a risky, maybe even a 'bad', investment is now the star performer driving the entire company's growth.
Mask
It's a classic case of high-risk, high-reward. The timid see the burn rate, the visionaries see the future market leader. This isn't just an Indian story either. While Chinese food-delivery firms are stuck in price wars, Eternal and Swiggy are outperforming because they're innovating in a new, high-growth category.
Ema
And the plan is to double down. Blinkit is in what they call a "land-grab phase." They aim to expand from just over 500 dark stores to 1,000 by the end of the fiscal year, and then push towards 2,000. It’s all about building a dense network that competitors can't easily replicate.
Mask
Exactly. It’s about building an unbreachable moat. They're sacrificing short-term profitability for long-term, absolute market leadership. The vision is clear: in a few years, Blinkit won't just be a part of the business, it will BE the business.
Ema
That's the end of today's discussion. Thank you for listening to Goose Pod. See you tomorrow.

## Blinkit Boom Fuels Massive Wealth Surge for Eternal CEO Deepinder Goyal This news report from **The Times of India**, published on **July 22, 2025**, details the significant financial gains experienced by Deepinder Goyal, CEO of Eternal, due to the rapid growth of Blinkit, a quick-commerce platform. ### Key Findings and Conclusions: * **Massive Wealth Increase:** Deepinder Goyal's net worth surged by **Rs 2,000 crore** in just two trading sessions. * **Eternal's Stock Soars:** Eternal's stock price experienced a significant rally, climbing **over 21%** and reaching a new all-time high of **Rs 311.60** on the NSE. * **Goyal's Net Worth:** The 42-year-old co-founder of Eternal now has an estimated net worth of **Rs 11,515 crore ($1.9 billion)**, according to Forbes' real-time billionaire rankings. * **Investor Enthusiasm:** The surge is attributed to investor confidence in Blinkit's quick-commerce growth story, with Goyal's **3.83% stake** in Eternal increasing substantially in value. * **Market Capitalization Milestone:** Eternal's market capitalization surpassed **Rs 3 lakh crore**, making it more valuable than established companies like Wipro, Tata Motors, Nestle, and Asian Paints. * **Blinkit Overtakes Zomato:** A key driver of investor sentiment is Blinkit's achievement of surpassing Zomato in Net Order Value (NOV), signaling a significant shift in Eternal's business mix and validating Goyal's focus on quick commerce. * **Positive Analyst Outlook:** Several top brokerages have revised their outlook on Eternal positively, with upgrades and increased target prices. ### Key Statistics and Metrics: * **Goyal's Wealth Increase:** Rs 2,000 crore in two trading sessions. * **Eternal Stock Rally:** Over 21% increase. * **Eternal's All-Time High Stock Price:** Rs 311.60 on NSE. * **Goyal's Estimated Net Worth:** Rs 11,515 crore ($1.9 billion). * **Goyal's Stake in Eternal:** 3.83%. * **Eternal's Market Capitalization:** Exceeded Rs 3 lakh crore. * **Info Edge's Stake in Eternal:** 12.38%. * **Info Edge Stock Gain:** Over 3%. * **Swiggy Stock Rally:** 7%. * **Blinkit's Quarter-on-Quarter GOV Growth:** 25% (cited by Goldman Sachs). * **Blinkit's Store Guidance:** 3,000 stores (cited by Goldman Sachs). ### Important Recommendations and Analyst Views: * **Jefferies:** Upgraded Eternal to **‘Buy’** with a target price of **Rs 400**, acknowledging they had previously overestimated the competitive threat. They view Eternal as a play on India's growing food services industry and increasing digital commerce adoption, highlighting Blinkit's market leadership and expected long-term margin improvement. * **Goldman Sachs:** Retained its **‘Buy’** rating and increased the target price to **Rs 340**, citing Blinkit's strong 25% quarter-on-quarter GOV growth and guidance for 3,000 stores as indicators of sustained demand. * **CLSA:** Maintained its **‘Outperform’** rating and raised its target price to **Rs 385**, describing Blinkit's rise as a **“seismic shift”** in Eternal’s business model. ### Significant Trends or Changes: * **Shift to Quick Commerce:** Blinkit's success signifies a decisive and successful pivot for Eternal under Deepinder Goyal's leadership towards the quick-commerce sector. * **Sector Sentiment Boost:** The positive performance of Blinkit has lifted sentiment across the quick-commerce and food delivery sector, benefiting associated companies like Info Edge and even rivals like Swiggy. ### Notable Risks or Concerns: * The report mentions that Eternal posted a **mixed Q1**, but analysts are focusing on the management's bullish commentary regarding quick commerce as a positive sign of strategic direction. No specific risks are detailed in this excerpt. ### Material Financial Data: * **Deepinder Goyal's Net Worth:** Increased by Rs 2,000 crore, reaching an estimated Rs 11,515 crore. * **Eternal's Market Cap:** Surpassed Rs 3 lakh crore. * **Info Edge's Holding Value:** Now accounts for over a third of its total market cap. **Disclaimer:** The views expressed by experts in the stock market and other asset classes are their own and do not represent the views of The Times of India.

Blinkit boom works wonders! Deepinder Goyal richer by Rs 2,000 crore in just two days; Eternal shares see big rally - Times of India

Read original at The Times of India →

Blinkit’s blistering growth has delivered a massive windfall for Eternal CEO Deepinder Goyal, whose net worth jumped by Rs 2,000 crore in just two trading sessions, as Eternal’s stock soared over 21% and hit a fresh all-time high of Rs 311.60 on the NSE.Goyal, the 42-year-old self-made billionaire and co-founder of Eternal, now holds an estimated net worth of Rs 11,515 crore ($1.

9 billion), according to Forbes’ real-time billionaire rankings, as per an ET report. His 3.83% stake in the company surged in value as investors rushed to buy into the quick-commerce growth story led by Blinkit.The market rally pushed Eternal’s market capitalisation past Rs 3 lakh crore, making it more valuable than legacy giants such as Wipro, Tata Motors, Nestle, and Asian Paints.

Investor enthusiasm was driven by Blinkit overtaking Zomato in net order value (NOV) terms—a milestone that marks a dramatic shift in the company's business mix and has cemented Goyal’s bet on quick commerce.The stock rally also benefited associated companies. Info Edge, which owns a 12.38% stake in Eternal, gained over 3%, with the value of its holding now accounting for over a third of its total market cap.

Rival Swiggy also rallied 7% as sentiment lifted across the sector.Several top brokerages have revised their outlook on Eternal following Blinkit’s performance. Jefferies upgraded the stock to ‘Buy’ and raised its target to Rs 400, admitting it had previously overestimated the competitive threat. “Eternal is a play on the growing food services industry in India and increasing adoption of digital commerce,” Jefferies said.

It also highlighted Blinkit’s market leadership and expected margin improvement in the long run.Goldman Sachs retained its ‘Buy’ rating and hiked the target price to Rs 340, citing Blinkit’s strong 25% quarter-on-quarter GOV growth and new guidance for 3,000 stores as signs of sustained demand.CLSA, which maintained its ‘Outperform’ rating, raised its target to Rs 385 and called Blinkit’s rise “a seismic shift” in Eternal’s business model.

While the company posted a mixed Q1, analysts across the board pointed to management’s bullish commentary on quick commerce as a sign that Eternal is pivoting decisively—and successfully—under Goyal’s leadership.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own.

These opinions do not represent the views of The Times of India)

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