Zomato’s stock exchange rebranding: What you need to know

In a strategic move aimed at streamlining its diversified business portfolio, Zomato’s board of directors has approved a significant rebranding effort, renaming the company ‘Eternal’. This development, announced via a regulatory filing, marks a pivotal shift in the company’s evolution, particularly following its acquisition of quick-commerce platform Blinkit.”

Co-founder Deependra Goyal explained the rationale behind the change. We started using ‘Eternal’ internally to distinguish between the company and the brand/app. We thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there, he said. Despite the name change, the Zomato app will continue to operate under its existing name. However, the company’s stock ticker will now be updated from Zomato to Eternal.

Eternal will serve as the umbrella brand for four major businesses — Zomato, Blinkit, District, and Hyperpure. These divisions represent the company’s growing presence in food delivery, quick commerce, dining services, and supply chain solutions.

The name change has sparked a buzz among netizens, with some expressing disappointment over the decision. However, Goyal defended the move, stating that the name ‘Eternal’ carries both a promise and a paradox, and it is a powerful name that scares him to his core. He further added that the name change is not just a change but a mission statement, a reminder etched into their identity that they will endure.

Despite the name change, the company’s financial performance has been a mixed bag. The online food delivery giant clocked a 57 per cent decline in net profit (year-on-year) at Rs 59 crore in Q3 from Rs 176 crore in the same period last fiscal. However, the company’s revenue from operations increased by 64 per cent to Rs 5,404 crore in the latest quarter earnings announced on January 20. The expenses of the Gurugram-based food giant rose to Rs 5,533 crore.

In a letter to shareholders on January 20, the company shared updates on its progress and expansion plans, stating that it aims to open 1,000 new Blinkit stores by December this year. This announcement was made along with the financial results for Q3 ended on December 31, 2024.