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Eureka Forbes Ltd share Price Today

Company details

473.00
492.80
355.00
598.75
6M Return -10.09%
1Y Return 20.44%
Mkt Cap.(Cr) 9,193.15
Volume 132,243
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 132,243

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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

View Other Company Results

Eureka Forbes Ltd shares SWOT Analysis

Strengths (11)

  • Company with high TTM EPS Growth
  • Strong Annual EPS Growth
  • Effectively using its capital to generate profit - RoCE improving in last 2 years

Weakness (3)

  • Promoter holding decreased by more than -2% QoQ
  • Declining Net Cash Flow : Companies not able to generate net cash
  • Companies with High Promoter Pledge

Opportunity (1)

  • RSI indicating price strength

Threats (3)

  • Promoter decreasing their shareholding
  • High PE (PE > 40)
  • Increasing Trend in Non-Core Income

Resistance and support

R1 487.6
R2 500.1
R3 507.4
Pivot

480.32

S1 467.8
S2 460.5
S3 448.0
EMA SMA
462.2
466.0
477.8
483.6
457.9
463.9
487.8
502.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
NORTH STAR OPPORTUNITIES FUND VCC-BULL VALUE INCORPORATED VCC SUB-FUND Bulk Purchase 2024-04-15 468.02 1000000 BSE
GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO Bulk Purchase 2024-02-22 504.95 2345220 BSE
MORGAN STANLEY ASIA SINGAPORE PTE Bulk Purchase 2024-02-22 504.95 1944294 BSE
Name Category Shares
Lunolux Limited PROMOTER 62.56%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
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Debt/Equity
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Eureka Forbes Ltd Stocks COMPARISON

INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 4,097.65 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 27,985.89 -4,210.70
LAST 3M 85,258.15 42,414.35
LAST 6M 136,201.24 75,801.89
LAST 12M 211,048.21 200,392.08

Eureka Forbes Ltd Information

Stock PE (TTM)
91.02
Promoter Holding
72.56%
Book Value
215.2346
ROCE
2.11%
ROE
1.04%
Description
  • Eureka Forbes Ltd. is an Indian multinational consumer goods company offering water purifiers, vacuum cleaners, air purifiers, Coronaguard, and water solution devices. It was incorporated in 1982, with its headquarters in Mumbai. For the quarter ended June 2022, Eureka Forbes Ltd.’s total income was Rs HYPERLINK "https://economictimes.indiatimes.com/eureka-forbes-ltd/stocks/companyid-32431.cms" 527.21 crore. It was up 40.04% from Rs 376.49 crore in the quarter ended in March 2022. The company’s market capitalisation stood at Rs HYPERLINK "https://www.moneycontrol.com/india/stockpricequote/householdpersonal-products/eurekaforbes/EF03" 8,938 crore on 29 August 2022.  

    Eureka Forbes Ltd.’s shares are listed on the Bombay Stock Exchange with the code 543482. The company is not listed on the National Stock Exchange.  

    Eureka Forbes Ltd. is a joint venture between Electrolux, a Sweden-based company, and Forbes and Campbell (a Tata Group Company). The company was formerly a part of the Shapoorji Pallonji Group. As of 31 March 2022, Eureka Forbes Ltd. had 20+ million happy customers, with a reach of over 1500 cities and towns.  

    On 30 June 2022, the company’s shareholding pattern highlighted a public stake of 13.53%, a domestic institutional investor stake of 1.65%, a foreign institutional investor stake of 11.5%, and a promoter stake of 73.33%. The leading promoter is Lunolex Ltd. with a 63.86% share. During the June 2022 quarter, promoters unpledged 11.17% of their shares, bringing the total pledge of promoters’ holdings to 87.08%. The promoters’ holdings decreased from 73.85% to 73.33%, while mutual fund holdings increased from 0.57% to 0.68% in the June 2022 quarter.  

    The company’s leadership team includes Mr Homi Adi Katgara, Mr Jai Laxmikant Mavani, Mr Shankar Krishnan Subramanian, Mr Marzin Roomi Shroff, MrSivanandhan Dhanushkodi, Mr Pallon Shapoorji Mistry, and Ms Indu Ranjit Shahani. The auditors of the company are Batliboi & Purohit. The company’s annual growth for the FY 2021-2022 was 4756.31%, which outperformed its three-year CAGR of 142.97%.  

    On 29 August 2022, Eureka Forbes Ltd.’s share price closed at Rs 462 on BSE. The company’s 52-week high share price was Rs 500, and the 52-week low for Eureka Forbes Ltd.’s share price was Rs 282. Its one-year return to the investors was 3.41%.  

    The company’s peers include Hindustan Unilever Ltd., Dabur India Ltd., Godrej Consumer Products Ltd., and Marico Ltd. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: complianceofficer@icicisecurities.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest.  I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose 

Registered Address

B1/B2 7th 701 Marath Innova, Kadam Marg Lawer Parel, Mumbai, Maharashtra, 400013

Tel : 91-022-48821700
Email : compliance:eurekaforbes.com; dshinde:eurekaforbes.
Website : http://www.eurekaforbes.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 543482
NSE Code :
Book Closure Date (Month) :
BSE Group : A
ISIN : INE0KCE01017

FAQ’s on Eureka Forbes Ltd Shares

You can buy Eureka Forbes Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Eureka Forbes Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Apr 16, 2024 04:01 PM the closing price of Eureka Forbes Ltd was ₹ 475.15.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Apr 16, 2024 04:01 PM, the market cap of Eureka Forbes Ltd stood at ₹ 9,193.15.

The latest PE ratio of Eureka Forbes Ltd as of Apr 16, 2024 04:01 PM is 91.02

The latest PB ratio of Eureka Forbes Ltd as of Apr 16, 2024 04:01 PM is 0.45

The 52-week high of Eureka Forbes Ltd share price is ₹ 598.75 while the 52-week low is ₹ 355.00

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