Eureka Forbes Limited is an Indian multinational home appliances company based in Mumbai. It makes water purification devices, vacuum cleaners, air purification systems, and home security products. Eureka Forbes was founded in 1982 as a 60:40 joint venture between Tata Group's Forbes & Company and Swedish manufacturer Electrolux. The company has evolved significantly since its inception, transitioning through various ownership structures before becoming part of the Advent International portfolio following its acquisition from the Shapoorji Pallonji Group.
Company is engaged in the health & hygiene segment with product profiles comprising water purifiers, vacuum cleaners, air purifiers, and home security systems. Its main revenue is generated from the sale of water purifiers, spares, and servicing. Geographically, the company derives a majority of its revenue from its customers in India. The company operates through multiple channels including direct sales, dealer networks, and institutional channels, establishing itself as a household name in the Indian market.
Eureka Forbes has a Market Capitalization of ₹11,370 Crore (up 19.6% in 1 year), a Revenue of ₹2,436 Crore, and a Profit of ₹163 Crore as of the latest available data. The company trades on both NSE and BSE under the scrip code EUREKAFORB. Eureka Forbes today announced the listing of its shares on the National Stock Exchange (NSE). The scrip code of Company has also undergone a change. The shares were previously listed only on the Bombay Stock Exchange (BSE) under the scrip code EUREKAFORBE. With the listing on NSE, the scrip code is now EUREKAFORB on both the stock exchanges.
The stock is trading at 2.59 times its book value and has shown consistent growth over the past year. Promoter holding in Eureka Forbes Ltd has remained stable at 62.56% as of March 2025 (unchanged from September 2024). The company has maintained stable promoter holding, indicating strong management confidence in the business prospects.
The company has demonstrated strong financial performance across recent quarters. Net profit of Eureka Forbes rose 84.71% to ₹47.71 Crore in the quarter ended September 2024, as against ₹25.83 Crore during the previous quarter ended September 2023. Sales rose 13.81% to ₹673.14 Crore in the quarter ended September 2024, as against ₹591.45 Crore during the previous quarter. This represents substantial year-over-year growth in both revenue and profitability.
For the quarter ended December 2024 (Q3 FY25), Net profit of Eureka Forbes rose 52.59% to ₹35.05 Crore in the quarter ended December 2024, as against ₹22.97 Crore during the previous quarter ended December 2023. Sales rose 10.81% to ₹597.74 Crore in the quarter ended December 2024, as against ₹539.43 Crore during the previous quarter ended December 2023. The consistent growth trajectory across quarters demonstrates the company's operational efficiency and market expansion.
- Revenue: ₹597.74 Crore
- Net Profit: ₹35.05 Crore
- Operating Profit Margin: 9.89%
- Year-over-Year Sales Growth: 10.81%
- Year-over-Year Net Profit Growth: 52.59%
EUREKA FORBES has announced its results for the year ended March 2024. Operating income during the year rose 5.0% on a year-on-year (YoY) basis. The company's operating profit increased by 74.8% YoY during the fiscal. The company showed remarkable improvement in profitability metrics during FY24.
Net profit for the year grew by 261.3% YoY. Net profit margins during the year grew from 1.3% in FY23 to 4.4% in FY24. This substantial improvement in profit margins reflects the company's successful cost optimization and operational efficiency initiatives.
- Revenue: ₹2,198 Crore
- Net Profit: ₹95.7 Crore
- Operating Profit Growth: 74.8% YoY
- Net Profit Margin: 4.4% (FY24) vs 1.3% (FY23)
- Revenue Growth: 5.0% YoY
Eureka Forbes Limited has undertaken a transformation journey, "Udaan", and has made significant progress over the last 2 years. It has reported sustained volume growth for 4 successive quarters, EBITDA margins improved by 401bps to 10.3% in FY24, and the Company has now become a cash surplus. This transformation initiative has been instrumental in driving the company's improved financial performance.
Company has reduced debt. The Company is almost debt-free. The company's focus on debt reduction and achieving cash surplus status demonstrates strong financial management and positions it well for future growth investments.
Aquaguard is the award-winning water purifier brand of Eureka Forbes. The Forbes vacuum cleaners are market leaders of the company and remain as #1 vacuum cleaner brand in 2020-21. The company has established strong brand recognition in its core product categories, particularly in water purification and vacuum cleaning segments.
Other products under the Eureka Forbes umbrella include Dr. Aeroguard, Forbes Health Conditioner, and Air purifiers. The diversified product portfolio allows the company to serve multiple segments within the health and hygiene market, providing stability and growth opportunities across different product lines.
Though the company is reporting repeated profits, it is not paying out dividend, suggesting a focus on reinvestment for growth rather than immediate shareholder returns. The company maintains regular compliance with regulatory requirements and has been transparent in its financial reporting.
Eureka Forbes Limited has received a SEBI compliance certificate under Regulation 74(5) for the quarter ending March 31, 2025, confirming the dematerialization status of its securities and ensuring regulatory transparency. This demonstrates the company's commitment to maintaining high standards of corporate governance and regulatory compliance.
The company has established a strong foundation for continued growth with its debt-free status, improved operational efficiency, and market-leading position in key product categories. The successful transformation journey and consistent financial performance make it an interesting proposition for investors looking at the health and hygiene sector in India.
