Eternal shares fell slightly on Monday morning after the company named Aditya Mangla as the new CEO of its food ordering and delivery business. The move was announced after board approval on July 6, 2025. Mangla will take charge for two years.
He replaces Rakesh Ranjan, who completed his two-year term. Ranjan’s exit was first reported by Moneycontrol back in April. Eternal confirmed that he will no longer be a part of the senior management team.
At 9:16 a.m., Eternal shares were down 0.7%, trading at ₹259.55. While the market reacted cautiously, some experts believe the dip is short-term.
Mangla is not new to the business. He has been with Eternal since 2021 and was serving as the Head of Product for food delivery. Many inside the company already see him as the brain behind product innovation.
The company’s founder Goyal sent a bold email to employees, saying this change is more than just a title swap.
“Leadership is not about having all the answers. It’s about learning to see the invisible. We need leaders who truly listen,” he wrote.
International brokerage Morgan Stanley remains bullish on the company. It has kept its ‘overweight’ rating on Eternal shares, with a price target of ₹320. They noted that Mangla’s internal promotion may bring stability, not disruption.
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They also pointed out that Eternal’s core food delivery unit has been gaining market share, even when rivals like Zomato faced rough patches. Over the past four years, Eternal has gone through multiple leadership changes, but it hasn’t slowed them down.
Still, leadership transitions come with their own risks. Some investors worry about consistency. Others believe fresh leadership could spark faster growth in a space where margins are tight and competition is brutal.
Eternal, known for its speed in both food delivery and quick commerce, is now betting on Mangla to scale up. His tech background and product-first mindset might give Eternal an edge over its rivals.
Whether that plays out remains to be seen. But one thing is clear: investors are watching closely.
Disclaimer:
This article is for informational purposes only and is not financial advice. Please consult a certified advisor before making investment decisions.
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