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Eureka Forbes

EUREKAFORB NSE
₹351.60 +9.35 (+2.73%)
P/E
38.38
View as Markdown
MCP
Close 4 Nov 2026 ₹351.60 −194.75 −35.6% 1Y
Start ₹546.35

Key Fundamentals

MicrocapConsumer DurablesConsumer Discretionary

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
5.86%
Debt to Equity
0.01
EPS (TTM)
₹9.16
Book Value
₹245.08
Market Cap
—
P/E (TTM)
38.38
P/B
1.43
ROE
4.25%
Dividend Yield
0.00%
EBITDA
₹337 Cr
52W High
₹668.30
52W Low
₹299.80
Day Range
₹340.00 – ₹353.25
Volume
3,91,187

Peer Comparison

Consumer Discretionary › Consumer Goods › Household Appliances

Eureka Forbes peer comparison
LG Electronics
₹1,692.1062.93₹1,15,914 Cr14.980.00%24.70%32.30%₹25,575 Cr₹1,825 Cr
Voltas
₹1,064.8078.41₹35,544 Cr5.530.38%6.10%9.04%₹14,979 Cr₹442 Cr
Blue Star
₹1,555.0062.78₹32,857 Cr9.170.54%17.20%21.20%₹12,798 Cr₹510 Cr
Amber Enterprises
₹6,460.00236.98₹22,453 Cr5.210.00%5.99%10.30%₹12,625 Cr₹124 Cr
Crompton Greaves
₹203.82—₹13,185 Cr4.331.52%10.30%19.00%₹7,698 Cr−₹189 Cr
V-Guard Industries
₹292.9535.04₹12,603 Cr5.000.52%14.40%18.40%₹6,310 Cr₹364 Cr
Whirlpool
₹826.1541.77₹10,427 Cr2.520.61%7.71%10.70%₹8,329 Cr₹252 Cr
Eureka Forbes (this company)
₹351.6038.38₹6,729 Cr1.430.00%4.25%5.86%₹2,804 Cr₹177 Cr
Median 8 companies₹945.4862.78₹17,819 Cr5.110.45%9.01%14.55%₹10,477 Cr₹308 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

37 Weak

Data confidence 100/100

pledge:82%

Category scores

Quality
42
Weak
Returns, margins, earnings quality 22% weight
Valuation
45
Weak
Cheap vs sector & own history 24% weight
Growth
47
Average
Sales & profit trajectory 9% weight
Financial Health
67
Strong
Solvency, leverage, coverage 9% weight
Momentum
11
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight
Capped: a governance trigger overrides the fundamentals here (pledge>75% ≤ 40).

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has delivered good profit growth of 160% CAGR over last 5 years

Weaknesses

4
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 3.46% over last 3 years.
  • Promoters have pledged 53.7% of their holding.
  • Promoter holding has decreased over last 3 years: -10.0%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish937
OscillatorsNeutral333
Moving AveragesStrong Bearish604

Key readings

RSI (14)
53.61
Neutral
MACD (12,26,9)
−9.35
Bullish
SMA (50)
369.61
Bearish
SMA (200)
450.13
Bearish

As of

Analyst Rating

Based on 14 analysts
BUY100%

14 of 14 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
14
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+57.97%
5Y+220.61%
3Y+9.22%
1Y+11.25%
TTM+12.48%

Net profit

Net profit growth by window
10YZero base
5YTurned to profit
3Y+111.13%
1Y−1.84%
TTM+2.91%

Operating cash flow

Operating cash flow growth by window
10Y—
5YZero base
3Y+12.27%
1Y+7.08%
TTM—

10Y: The statements do not go back far enough for this window.

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+7.87 pp
5Y+23.94 pp
3Y+5.09 pp
1Y+0.64 pp
TTM+0.41 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹33.00 Cr
Mar 2018₹27.00 Cr
Mar 2019₹26.00 Cr
Mar 2020₹16.00 Cr
Mar 2021₹8.00 Cr
Mar 2022₹381 Cr
Mar 2023₹2,080 Cr
Mar 2024₹2,189 Cr
Mar 2025₹2,436 Cr
Mar 2026₹2,710 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹1.00 Cr
Mar 2018−₹1.00 Cr
Mar 2019−₹1.00 Cr
Mar 2020−₹1.00 Cr
Mar 2021−₹2.00 Cr
Mar 2022₹3.00 Cr
Mar 2023₹17.00 Cr
Mar 2024₹92.00 Cr
Mar 2025₹163 Cr
Mar 2026₹160 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹79.00 Cr −34.9% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

Eureka Forbes Ltd trades at a market cap of ₹8,685 Cr with a PE of 53.5x and near-zero debt. The company has shown strong profit growth (160% CAGR over 5 years) but generates a low return on equity of ~3.5% over 3 years, while promoters have pledged 53.7% of their holding.

Bull Case 7
  • Company is almost debt free, providing financial flexibility and low interest burden
  • Compounded profit growth of 160% CAGR over 5 years indicates rapid earnings expansion from a low base
  • TTM sales growth of 11% shows continued revenue momentum in the consumer goods segment
  • TTM profit growth of 23% outpaces sales growth, suggesting improving operating leverage
  • 3-year compounded profit CAGR of 89% demonstrates sustained earnings recovery trajectory
  • ROE improved to 4% in the last year from a 3-year average of 3%, indicating gradual profitability improvement
  • Price-to-book ratio of 1.89x is relatively moderate for a consumer brand franchise
Bear Case 8
  • Promoters have pledged 53.7% of their holding, creating significant overhang and forced-selling risk
  • Promoter holding has decreased by 10% over the last 3 years, signaling potential lack of confidence
  • PE of 53.5x is elevated given the low ROE of 3.46% over 3 years, implying the stock prices in substantial future improvement
  • 3-year ROE of only 3% and 10-year ROE of 2% indicate structurally poor capital efficiency
  • Zero dividend payout despite reporting repeated profits, offering no income return to shareholders
  • Stock price CAGR of -19% over 1 year and -6% over 3 years shows persistent market underperformance
  • 5-year compounded sales CAGR of 222% is likely distorted by corporate restructuring rather than organic growth
  • Market cap of ₹8,685 Cr on thin profitability metrics raises valuation sustainability concerns

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: Eureka Forbes faces elevated promoter pledging risk with nearly 40% of Lunolux's stake now encumbered due to a collateral shortfall, which signals financial stress at the promoter level. No operational positives or growth catalysts emerged in recent news flow. The AGM on Aug 19 may provide more clarity on business direction. The trend is cautious given rising pledge levels without offsetting positive developments.

Headwinds 1
  • Major promoter share pledge Jul 31

    Lunolux Limited pledged an additional 11.4M Eureka Forbes shares due to collateral shortfall, raising total encumbrance to 39.47% of holdings. High promoter pledging increases risk of forced selling if share price declines.

Neutral 1
  • AGM scheduled for Aug 19 Jul 20

    Eureka Forbes will hold its 17th AGM on August 19, 2026 via video conferencing at 12:00 Noon IST. Routine corporate governance event with no unusual agenda flagged.

Quarterly Results

₹ Cr
EUREKAFORB quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
505
592
539
553
553
673
598
613
608
773
645
684
701
890
Expenses
459
541
496
500
498
601
539
535
546
678
578
599
633
776
Operating Profit
46
51
42
53
55
72
59
78
61
96
67
85
67
114
OPM %
9%
9%
8%
10%
10%
11%
10%
13%
10%
12%
10%
12%
10%
13%
Other Income
2
2
3
−13
2
6
4
4.3
7
6
−35
5
27
6
Interest
3
3
2
2
2
2
1
1
1
2
3
2
1
2
Depreciation
13
13
13
14
14
14
15
15
16
16
17
20
19
20
PBT
31
37
30
24
42
62
47
68
52
83
12
68
74
98
Tax %
29%
31%
25%
12%
25%
25%
26%
25%
25%
26%
27%
25%
26%
25%
Net Profit
22
25
23
21
31
47
35
51
39
62
9
51
55
73
EPS (₹)
1.14
1.32
1.17
1.11
1.61
2.41
1.8
2.62
1.99
3.18
0.47
2.64
2.87
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
EUREKAFORB profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
0
28
33
27
26
16
8
381
2,080
2,189
2,436
2,710
2,804
Expenses
0
28
32
27
26
16
9
363
1,949
1,997
2,173
2,400
2,488
Operating Profit
0
1
2
−1
0
0
−1
18
132
192
263
310
316
OPM %
—
2.2%
4.7%
−3.1%
−1.2%
−0.5%
−17%
4.7%
6%
9%
11%
11%
11%
Other Income
0
0
0
0
0
0
0
2
−30
−7
19
−18
2
Interest
0
0
1
0
0
0
0
4
20
10
6
8
8
Depreciation
0
0
0
0
0
0
0
9
55
53
58
69
72
PBT
0
0
1
−1
−1
−1
−2
7
27
122
219
216
238
Tax %
—
−8%
8%
9%
−9%
56%
1%
59%
37%
25%
25%
26%
—
Net Profit
0
0
1
−1
−1
−1
−2
3
17
92
163
160
177
EPS (₹)
0
0.5
2.62
−4.7
−2.48
−1.84
−3.38
0.14
0.88
4.73
8.44
8.28
9.16
Div. Payout %
—
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
EUREKAFORB balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.05
3
3
3
3
5
5
193
193
193
193
193
Reserves
0
−1
0
−2
−2
−3
−5
3,874
3,886
4,010
4,191
4,380
Borrowings
0
4
4
4
4
2
2
253
139
39
26
29
Other Liabilities
0
12
12
9
9
7
5
1,815
1,810
1,878
1,899
2,100
Total Liabilities
0
18
18
14
14
10
7
6,135
6,029
6,120
6,310
6,702
Fixed Assets
0
1
0
0
0
0
0
5,498
5,475
5,457
5,466
5,504
CWIP
0
0
0
0
0
0
0
0
2
1
2
7
Investments
0
0
0
0
0
0
0
87
101
80
84
88
Other Assets
0
17
18
14
14
10
7
550
451
582
758
1,103
Total Assets
0
18
18
14
14
10
7
6,135
6,029
6,120
6,310
6,702

Cash Flow

₹ Cr
EUREKAFORB cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
—
—
—
1
0
37
171
195
226
242
Investing
—
—
—
—
—
0
0
7
−22
−35
−168
−175
Financing
—
—
—
—
—
−1
0
−31
−150
−117
−43
−22
Net Cash Flow
—
—
—
—
—
−1
0
13
−1
43
14
45
Free Cash Flow
—
—
—
—
—
1
0
33
160
169
170
157
CFO/OP
—
—
—
—
—
−1,200
11
212
133
101
83
78

Ratios

EUREKAFORB financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
—
156
141
107
110
63
110
147
22
23
27
31
Inventory Days
—
34
21
37
33
90
109
638
91
99
90
119
Days Payable
—
164
153
137
143
159
256
549
99
89
69
75
Cash Conversion Cycle
—
26
10
7
1
−7
−37
235
14
33
48
76
Working Capital Days
—
37
34
31
−48
−33
−105
−546
−103
−87
−71
−54
ROCE %
—
20%
24%
−12%
−5%
−4%
−58%
0%
2%
3%
5%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Eureka Forbes insights

62 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 62.51%
  • FIIs 13.22%
  • Public 11.85%
  • DIIs 6.68%
  • Others 5.12%
  • Government 0.62%

81.53% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Eureka Forbes

What does Eureka Forbes Ltd do?
Eureka Forbes Limited is India’s leading health and hygiene brand. Its product portfolio encompasses water purification, vacuum cleaning and air purification.
Where is Eureka Forbes Ltd (EUREKAFORB) listed?
Eureka Forbes Ltd trades as EUREKAFORB on the NSE and under code 543482 on the BSE.
Which sector does Eureka Forbes Ltd belong to?
Eureka Forbes Ltd is classified under the Consumer Goods sector, in the Household Appliances industry.
What is the PE ratio of Eureka Forbes Ltd?
Eureka Forbes Ltd trades at a PE ratio of 38.38 as of 4 Nov 2026, on earnings per share of ₹9.16, against a book value of ₹245.08 per share.
What is the 52-week high and low of Eureka Forbes Ltd?
Over the last 52 weeks Eureka Forbes Ltd has traded between ₹299.8 and ₹668.3 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Eureka Forbes Ltd?
Eureka Forbes Ltd reported a return on equity of 4.25%. Its debt-to-equity ratio is 0.01.

Company Information

Eureka Forbes Limited is India’s leading health and hygiene brand. Its product portfolio encompasses water purification, vacuum cleaning and air purification.

Website eurekaforbes.com
CEO Mr. Pratik Rashmikant Pota BE, PGDM
Employees 2,721
Listed 16 Mar 2022
Face Value ₹10

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