In a letter to shareholders, Goyal said that he will remain on the company's board as vice chairman, subject to shareholders' approval.

He said the decision to step down was driven by his desire to explore new, high-risk ideas that do not fit the scope or risk profile of a listed company like Eternal.

"While I believe I personally have the bandwidth to continue what I am doing at Eternal, and also explore new ideas outside of it, the expectations, legal and otherwise, of a public company CEO in India demand singular focus," Goyal said in the letter.

In the last one year or so, Goyal has started a couple of ventures - aviation startup LAT Aerospace and Continue Research, which is focussed on longevity. Goyal has also been exploring the launch of a wearable device company under the name 'Temple'. The device will track cerebral blood flow.

Following Goyal's resignation, the operational control of Eternal will now move to Dhindsa. As Group CEO, he'll be responsible for day-to-day execution, operating priorities, and business decisions.

Goyal highlighted that Blinkit’s journey from acquisition to breakeven took place under Dhindsa's leadership.

"He built the team, the culture, the supply chain, the operating rhythm. He has the DNA of a battle-hardened founder and his ability to execute far exceeds mine. He is more than capable of leading Eternal as Group CEO," said Goyal.

As part of the transition, Goyal said all his unvested ESOPs will return to the company's ESOP pool. This, he said, would help create long-term incentives for future leaders without adding shareholder dilution, while keeping his own financial interests aligned with long-term value creation.

Eternal today reported a 73% YoY rise in its consolidated net profit to INR 102 Cr in the third quarter of the fiscal year ending March 2026 (Q3 FY26). Its operating revenue surged over 3X to INR 16,315 Cr, largely due to Blinkit's transition to an inventory-led model.

Shares of Eternal ended today's trading session 4.98% higher at INR 283.4 on the BSE.