Blinkit CEO Dhindsa tops ₹419 crore stock option exercise at Eternal

More than 140 executives at Eternal exercised employee stock options (Esops) worth ₹419 crore over July 29 and 30, with Blinkit CEO Albinder Dhindsa accounting for more than half the value, the Economic Times reported on Monday.

Thirty-one other top executives, including Hyperpure CEO Rishi Arora, former food delivery CEO Rakesh Ranjan, his successor Aditya Mangla, and corporate development head Kunal Swarup, each converted options worth more than ₹1 crore, the newspaper said.

Nearly half of these 32 senior executives were from Blinkit, while the rest were split between Eternal, its food delivery platform Zomato, Hyperpure and going-out business District, according to the report.

Dhindsa converted options to buy seven million Eternal shares valued at ₹214.51 crore, as part of a board-approved schedule, ET said, citing people aware of the matter.

Eternal shares, which have been at seven-month highs, closed 0.3% lower at ₹300.80 on Friday, giving the company a market capitalisation of about ₹2.9 lakh crore.

The parent of Zomato and Blinkit reported a 90% drop in net profit to ₹25 crore for the June quarter as competitive intensity in India’s quick commerce sector and rapid expansion of Blinkit offset strong order growth.

The figures were ₹39 crore in the previous quarter and ₹253 crore in the year-ago period.

Its revenue from operations came in at ₹7,167 crore, up 70% against ₹4,206 crore logged in the corresponding quarter of the previous fiscal year.

In its letter to shareholders, Eternal said net order value (NOV) of its B2C businesses grew 55% YoY (16% QoQ) to ₹20,183 crore in Q1 FY26. This was the first quarter where its quick commerce NOV exceeded food delivery NOV for the full quarter.

"On an annualised basis, we are now at almost $10 billion of annual NOV across our B2C businesses, and quick commerce is now our largest B2C business, contributing to almost half of this annualised NOV. Our B2B business Hyperpure’s revenue grew 89% YoY (25% QoQ). We expect degrowth in this business in the next few quarters," the letter said.