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Eureka Forbes Results: Latest Quarterly Results & Analysis

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Eureka Forbes Ltd. 13 Nov 2025 14:26 PM
Result PDF

Q2FY26 Quarterly Result Announced for Eureka Forbes Ltd.

Consumer Electronics company Eureka Forbes announced Q2FY26 results

  • Revenue from operations increased 14.9% YoY to Rs 773.4 crore, driven by high teens growth in products business.
  • Service business turnaround accelerated with double-digit growth in AMC bookings.
  • Adjusted (Adj.) EBITDA increased 31.1% YoY to Rs 101.6 crore from Rs 77.5 crore in Q2FY25; Adj. EBITDA margin improved 162bps YoY to 13.1%.
  • Adj. PBT (before exceptional items and ESOP) increased 36.6% YoY to Rs 88.9 crore from Rs 65.1 crore in Q2FY25.
  • Profit After Tax increased 32.0% YoY to Rs 61.6 crore from Rs 46.7 crore in Q2FY25.

Pratik Pota, MD, and CEO, Eureka Forbes, said: “In an uncertain and evolving external environment, Q2FY26 was an exciting milestone quarter for us. We delivered a strong revenue growth of 14.9% YoY and EBITDA crossed Rs. 100 crore for the first time at a lifetime high margin of 13.1%.

Our revenue growth came on the back of a high-teens growth in Products, with all our categories growing well. In Water, growth came on the back of a scale up of our 2-year range which reduces the cost of ownership significantly. In Cleaning, the biggest engine of growth was the Robotics segment which performed well across all channels. With this quarter, we have now delivered double digit product growth in every single quarter in the last two years.

The service business turnaround accelerated with a strong, double-digit growth in service bookings. Our customer experience improved further, with service levels reaching lifetime highs.

Even after a significant increase in our growth investments, EBITDA grew by 31.1% YoY and margin reached a lifetime high level of 13.1%. Profit after tax grew 32.0% YoY.

The quarter’s performance gives us tremendous energy and reinforces the strong conviction that we have in our transformation strategy. The key building blocks of our strategy are falling in place and showing clear and meaningful results.

Looking ahead, we could not be more excited at what lies ahead.”

Result PDF

Result PDF

Consumer Electronics company Eureka Forbes announced Q1FY26 results

  • Revenue from operations grew 9.9% YoY to Rs 607.7 crore in a soft demand environment.
  • Double-digit volume and value growth powers product portfolio; product business has now grown in double-digits for 7 successive quarters.
  • Broad-based water purifier growth in both economy & premium segments.
  • Vacuum cleaner performance led by 52% YoY growth in Robotics.
  • Service business saw a turnaround with double-digit growth in service bookings, driven by volume & ASP.
  • Robust Adj. EBITDA margin at 11.0% (11.5% in Q1FY25) despite continuing growth investments; operating leverage benefit of 183bps YoY, funded increase in service charge, and growth spends.
  • Adj. PBT (before exceptional items and ESOP) increased 14.2% YoY to Rs 57.3 crore from Rs 50.2 crore in Q1FY25.
  • Profit After Tax increased 24.1% YoY to Rs 38.5 crore from Rs 31.0 crore in Q1FY25.

Pratik Pota, MD, and CEO, Eureka Forbes, said: “In an extremely challenging demand environment, we are proud of the solid, all-around performance delivered by EFL. Revenues grew by 9.9% on the back of double-digit growth in our product portfolio, in both volume and value. Profitability continued to improve, and Profit After Tax grew by 24.1%.

Our Water Purifiers category saw strong growth in both the Economy and Premium segments. The horizontal deployment of Water Purifiers with 2-year filter life is a game-changer as it reduces lifetime ownership cost, we are confident that this will drive help penetration and growth.

The Vacuum Cleaner category also saw strong growth driven by a surge in the sales of our Robotics portfolio. Our early conviction and bet on this category is now yielding strong results, and we believe that this segment will continue to scale in the future.

One emerging bright spot last quarter was that our Service business turnaround picked up pace with a double-digit growth in service bookings. We have taken many initiatives in Service which are now beginning to bear results, and we are confident of sustaining this growth in the periods ahead.

As we look forward to the third year of our transformation, we could not be more excited about what lies ahead. Our categories have low penetration and offer immense potential, and we are confident that we have the right strategy and set of plans to win in the market and deliver sustained and profitable growth in the future.”

Result PDF

Consumer Electronics company Eureka Forbes announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Revenue from operations grew 10.8% YoY to Rs 612.5 crore. Continuing businesses grew marginally higher at 10.9% YoY.
  • Adjusted (Adj.) EBITDA increased 28.8% YoY to Rs 79.7 crore from Rs 61.9 crore in Q4FY24; Adj. EBITDA margin improved 183bps YoY to 13.0%. Margins improved YoY in every single quarter of FY25.
  • Adj. PBT (before exceptional items and ESOP) increased 39.9% YoY to Rs 68.0 crore from Rs 48.6 crore in Q4FY24.
  • Profit After Tax increased 137.5% YoY to Rs 50.8 crore from Rs 21.4 crore in Q4FY24. (Adj. PAT pre-ESOP increased 77.3% YoY to Rs 52.3 crore from Rs 29.5 crore in Q4FY24)

FY25 Financial Highlights:

  • Revenue from operations grew 11.3% YoY to Rs 2,436.1 crore. Continuing businesses grew higher at 12.0% YoY. (FY24 growth : 7.9% and FY23 growth : 2.2%)
  • Adjusted (Adj.) EBITDA increased 25.9% YoY to Rs 285.0 crore from Rs 226.3 crore during FY24; Adj. EBITDA margin improved 136bps YoY to 11.7%. (FY24 margin : 10.3% and FY23 margin : 6.3%)
  • Profit After Tax increased 78.4% YoY to Rs 163.3 crore from Rs 91.5 crore during FY24. (FY23 : Rs 17.1 crore) PAT up ~10x in 2 years
  • Adj. PAT (pre-ESOP) increased 52.4% YoY to Rs 179.8 crore from Rs 118.0 crore in FY24

Commenting on the Q4FY25 & FY25 performance, Pratik Pota, MD, and CEO, Eureka Forbes said, “We are pleased to exit the second full year of transformation with yet another quarter of double-digit growth and lifetime high profitability.

In Q4, continuing business revenue grew by 10.9% YoY, and this was the sixth successive quarter of double-digit growth. Led by operating leverage, EBITDA margins touched 13% for the first time. The momentum in our product business sustained and our innovations and growth investments helped the products grow in high teens.

Stepping back and looking at the full year picture, the impact of transformation initiatives is now visible on multiple fronts. Growth stepped up from 2.2% in FY23 to 7.9% in FY24 and now to 12.0% in FY25 on the back of strong growth in our product business. Margins have expanded from 6.3% in FY23 to 10.3% in FY24 and now to 11.7% in FY25. The FY25 margin expansion is after a 25% YoY increase in growth investments. Net surplus is at Rs 284 crore. In terms of capabilities, we have reclaimed thought leadership on innovations, our customer metrics are at an all-time high and our cost program is generating fuel for growth.

Looking ahead, our focus will be on driving service revenue. Several transformation initiatives have been under way, and I am pleased to report that we are seeing green shoots in our service revenue. At the same time, we will stay the course on innovations, step up our growth investments further, and drive margin improvement.

The progress we have achieved in two years of our transformation and with the momentum of sustained double-digit growth and lifetime high margins in Q4 give us the confidence and the energy to drive sustained profitable growth in the year ahead.”.

Result PDF

Consumer Electronics company Eureka Forbes announced Q3FY25 results

  • Revenue from operations increased 11.0% YoY to Rs 597.8 crore. Continuing businesses grew higher at 11.3% YoY.
  • Adjusted (Adj.) EBITDA increased 21.6% YoY to Rs 64.4 crore from Rs 52.9 crore in Q3FY24; Adj. EBITDA margin improved 94bps YoY to 10.8%.
  • Adj. PBT (before exceptional items and ESOP) increased 28.7% YoY to Rs 52.6 crore from Rs 40.9 crore in Q3FY24.
  • Profit After Tax increased 53.6% YoY to Rs 34.8 crore from Rs 22.7 crore in Q3FY24.

Pratik Pota, MD & CEO, Eureka Forbes, said: “We are pleased to report the fifth successive quarter of double-digit growth in our continuing business which grew by 11.3% in Q3FY25.

In the context of a relatively muted demand environment, the momentum in our product business continued and our product business sustained its double-digit growth. Our innovations in premium EWPs and Robotics were the key engines of growth.

Our profitability improved and EBITDA margins for Q3 at 10.8% expanded by 94bps year on year. Profit after Tax grew 53.6% year on year.

Looking ahead, our focus will remain on execution of our transformation strategy and we are confident that we will deliver sustained and profitable growth.”

Result PDF

Consumer Electronics company Eureka Forbes announced Q2FY25 results

  • Revenue from operations increased 13.6% YoY to Rs 672.9 crore. Continuing business grew higher at 14.7% YoY.
  • Adjusted (Adj.) EBITDA increased 25.1% YoY to Rs 77.5 crore from Rs 62.0 crore in Q2FY24; Adj. EBITDA margin improved 106bps YoY to 11.5%.
  • Adj. PBT (before exceptional items and ESOP) increased 36.2% YoY to Rs 65.1 crore from Rs 47.8 crore in Q2FY24.
  • Profit After Tax increased 83.2% YoY to Rs 46.7 crore from Rs 25.5 crore in Q2FY24.
  • The company got listed on the National Stock Exchange (NSE) on 11th September 2024; NSE scrip symbol - EUREKAFORB.

Pratik Pota, MD, and CEO, Eureka Forbes, said: “Our transformation efforts continued to gain momentum with a strong performance in Q2FY25.

Driven by a range of innovations across both Water and Cleaning, increased marketing investments and onset of an earlier festive season, we delivered a 14.7% continuing business growth in Q2, making this the fourth successive quarter of double-digit growth in our continuing business.

Growth continued to be broad based and product business grew in excess of 20%. The impact of growth led to operating leverage benefits and despite the sharp step up in advertising investments, adjusted EBITDA margin expanded 106 bps and Profit after Tax grew 83% YoY.

With strong double-digit growth for the last four consecutive quarters, and our transformation efforts continuing, we are excited about what lies ahead and remain confident of driving sustained and profitable growth in the future.”

Result PDF

Consumer Electronics company Eureka Forbes announced Q1FY25 results:

  • Revenue from operations increased 9.4% YoY to Rs 552.8 crore Continuing businesses grew higher at 10.8% YoY.
  • Adjusted (Adj.) EBITDA increased 27.9% YoY to Rs 63.4 crore from Rs 49.6 crore in Q1 FY24; Adj. EBITDA margin improved 166bps YoY to 11.5%.
  • Adj. PBT (before exceptional items and ESOP) increased 44.3% YoY to Rs 50.2 crore from Rs 34.8 crore in Q1 FY24.
  • Profit After Tax increased 40.7% YoY to Rs 31.0 crore from Rs 22.1 crore in Q1 FY24.

Commenting on the Q1FY25 performance, Pratik Pota, MD, and CEO, Eureka Forbes Limited said, "Despite a muted demand environment, we are pleased to report the third successive quarter of double-digit growth in our continuing business which grew by 10.8% in Q1.

Growth was broad-based across both Water Purifier and Vacuum Cleaner categories and the service business, with our premium products across both Water and VCs being the engines of growth.

We made progress on the profitability front too with EBITDA margins for Q1 reaching a lifetime high of 11.5%, an improvement of 166bps year on year.

Looking ahead, we have strong conviction in our strategy and believe that we have the right set of plans to drive sustained and profitable growth in the future."

Result PDF

Consumer Electronics company Eureka Forbes announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from operations increased 8.8% YoY to Rs 553.1 crore. Continuing businesses grew higher at 11.4% YoY.
  • Adjusted (Adj.) EBITDA increased 30.6% YoY to Rs 61.9 crore from Rs 47.4 crore in Q4 FY23; Adj. EBITDA margin improved 186bps YoY to 11.2%, the highest ever
  • Adj. PBT (before exceptional items and ESOP) increased 38.9% YoY to Rs 48.6 crore from Rs 35.0 crore in Q4 FY23.
  • Profit After Tax increased 31.1% YoY to Rs 21.4 crore from Rs 16.3 crore in Q4 FY23.
  • Adj. PAT (pre-ESOP) increased 81.0% YoY to Rs 29.5 crore from Rs 16.3 crore in Q4 FY23. 

FY24 Financial Highlights:

  • Revenue from operations increased 5.2% YoY to Rs 2,189.2 crore. Continuing businesses grew at 7.9% YoY.
  • Adj. EBITDA increased 71.9% YoY to Rs 226.3 crore from Rs 131.7 crore in FY23; Adj. EBITDA margin improved 401bps YoY to 10.3%.
  • Adj. PBT (before exceptional items and ESOP) increased 156.8% YoY to Rs 172.0 crore from Rs 67.0 crore in FY23.
  • Profit After Tax increased 435.5% YoY to Rs 91.5 crore from Rs 17.1 crore in FY23.
  • Adj. PAT (pre-ESOP) increased 590.3% YoY to Rs 118.0 crore from Rs 17.1 crore in FY23.

Commenting on the Q4 FY24 and FY24 performance, Pratik Pota, MD, and CEO, Eureka Forbes Limited said, “As we exit the first full year of our transformation program Udaan, I am pleased to report progress on multiple fronts. Continuing businesses grew by 11.4% in Q4 and by 7.9% for the year with H2 growth of 14.0%.

Driven by operating efficiencies and leverage, EBITDA margins for Q4 reached a lifetime high of 11.2% - an improvement of 186bps year on year.

For the FY, EBITDA margins expanded by 401bps to 10.3% in FY24 with a full year operational cash flow generation of Rs 194 crore.

Transformation initiatives gathered momentum with the most visible impact in the areas of product innovations and consumer campaigns. Several new and industry first products were launched in all 3 categories of Electric Water Purifiers, Vacuum Cleaners and Air PurifieRs New launches were backed with advertising campaigns focused on driving penetration and category adoption.

The progress we have achieved in the first year of our transformation and with momentum of a double-digit H2 growth and lifetime high margins in Q4 give us the confidence and the energy as we enter the next stage in this journey of transforming this iconic brand and Company to its rightful place.”

Result PDF

Consumer Electronics company Eureka Forbes announced Q3FY24 results:

Financial Performance Highlights

  • Revenue: Eureka Forbes reported a YoY revenue increase of 14.1% in Q3FY24, amounting to Rs 538.6 crore, with the continuing business posting a 16.8% growth.
  • Adjusted EBITDA: The adjusted EBITDA showed a significant rise of 28.6% compared to Q3FY23, reaching Rs 52.9 crore. The adjusted EBITDA margin also improved by 111 basis points, indicating a more profitable quarter.
  • Adjusted PBT: Adjusted Profit Before Tax (PBT) saw an uptick of 45.6% YoY, arriving at Rs 40.9 crore, up from Rs 28.1 crore in Q3FY23.
  • Profit After Tax (PAT): The PAT skyrocketed by 131.3% YoY, settling at Rs 22.7 crore compared to Rs 9.8 crore in the same quarter of the previous fiscal year.
  • Adjusted PAT: When adjusted for pre-ESOP expenses, PAT increased by an impressive 213.5% YoY to Rs 30.7 crore.

Business Operations Highlights

  • The revenue growth was broad-based across both product categories (water purifiers and vacuum cleaners) and service business.
  • The quarter also marked the third consecutive period of volume growth in the mentioned categories, showcasing sustained demand and sales strength.
  • New product launches across all categories were highlighted, including Slimtech Glass UV Water Purifiers, Zero Bend Vacuum Cleaners, Forbes Buddy Pet Grooming Kit, and Surround 360 Air Purifiers.

Balance Sheet and Credit Rating Highlights

  • The company successfully transformed from a net debt position of Rs 122 crore in Q3FY23 to a net cash surplus of Rs 60 crore.
  • Eureka Forbes Limited received an upgrade in its credit rating from CARE A Stable to CARE A Stable, reflecting improved financial health and creditworthiness.

Commenting on the Q3FY24 performance, Pratik Pota, MD, and CEO, Eureka Forbes said, “Q3 witnessed a step up in our growth and revenue grew 14.1% with continuing businesses growing at 16.8%. Growth was volume-led and was broad-based across product categories and service business.

Within water purifiers, we witnessed strong growth in both Economy segment and Value Added segments while growth in vacuum cleaners was led by the Robotics range.

EBITDA margins improved year on year to 9.8% and we had a cash surplus of Rs 60 crore vs a net debt of Rs 122 crore last year.

Our transformation initiatives continued to gain momentum in the quarter. In Q3, this was most visible in our product innovations and product launches were made in all the 3 categories of water purifiers, vacuum cleaners and air purifiers.

Looking ahead, we are confident that our transformation strategy will deliver results and lead to sustained, profitable growth in the future.”

Result PDF

Consumer electronics company Eureka Forbes announced Q1FY24 results:

  • Revenue from operations stood at Rs 505.3 crore (-3.8% YoY). This represented a sequential improvement in the trajectory of the business.
  • Adj. EBITDA stood at Rs 49.6 crore ( 15.5% YoY). Adj. EBITDA margin improved 164 bps YoY and 49 bps QoQ to 9.8%. Adjusted EBITDA is pre-ESOP charges.
  • Adj. PBT stood at Rs 34.8 crore ( 42.6% YoY).
  • Profit after tax stood at Rs 22.1 crore ( 23.8% YoY). Adjusted PBT is pre-ESOP charges.
  • During Q1FY24, the company’s net debt stood at Rs 32 crore, a reduction of 85% YoY.

Commenting on the Q1FY24 performance, Pratik Pota, MD and CEO, Eureka Forbes said, “We made encouraging progress against our key strategic priorities in Q1FY24.

Our recent efforts in growing the category and driving volumes are beginning to bear fruit with overall volume growth in Electric Water Purifiers and Vacuum Cleaners during the quarter.

Execution of specific transformation initiatives helped improve our Adj. EBITDA margin to 9.8%, up by 164 bps YoY. This combined with an 85% YoY reduction in our net debt has fundamentally improved the financial health of the business.

We also rolled out an industry-first, company-wide ESOP program that grants stock options to every single manager in the company; we believe this will drive collaboration and shared ownership toward the transformation.

Looking ahead, we see the key transformation levers beginning to fall in place and are confident of driving sustained and profitable growth in the quarters ahead.”

 

Result PDF

Consumer Electronics company Eureka Forbes announced Q4FY23 & FY23 results:

  • Standalone Q4FY23:
    • Revenue from operations stood at Rs 508.1 crore (-8.0% YoY)
    • EBITDA stood at Rs 47.4 crore ( 35.6% YoY). EBITDA margin improved by 300 bps to 9.3%
    • PBT before exceptional items stood at Rs 35.0 crore ( 120.9% YoY). Reported PBT was Rs 25.8 crore, up 63.3% YoY
    • Profit After Tax stood at Rs 16.3 crore ( 98.0% YoY)
    • During the quarter, Eureka Forbes launched a new campaign ‘Nal se kapda hatega toh Sar se kapda hatega’ targeted at non-users of the category.
  • Standalone FY23:
    • Revenue from operations stood at Rs 2,080.4 crore, ( 2.2% YoY)
    • EBITDA stood at Rs 131.7 crore ( 20.0% YoY). EBITDA margin improved by 94 bps to 6.3%
    • PBT before exceptional items stood at Rs 67.0 crore ( 19.5% YoY). Reported PBT stood at Rs 26.9 crore (-41.0%)
    • Profit After Tax stood at Rs 17.1 crore (-35.0%)

Commenting on the Q4FY23 performance, Pratik Pota, MD, and CEO, Eureka Forbes said, “Faced with an ongoing soft demand environment, we continued to move ahead on our strategic priorities in Q4FY23 and on improving the financial health of the business. We launched a new advertising campaign in Q4 targeted at non-users of the category, and we also introduced several key innovations in the market.

Execution of specific transformation initiatives helped improve our EBITDA margin to 9.3%, up by 300 bps YoY and by 61 bps sequentially. This combined with a 72% YoY reduction in our net debt will allow us the headroom to invest for growth. Looking ahead to the future, we are confident of driving sustained performance on the back of differentiated innovations, an elevated customer experience & a more efficient business model.”

 

 

Result PDF

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