Eureka Forbes Limited
309.75
INR
-7.05
(-2.23%)
Eureka Forbes Limited
NSE:EUREKAFORB
(National Stock Exchange of India)
Recent
price
309.75
P/E
ratio
49.21
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Eureka Forbes Ltd. Eureka Forbes Limited (EUREKAFORB.NS) manufactures, sells, and services a range of health, hygiene, and safety products including water filter-cum-purifiers under the flagship Aquaguard brand such as Aquaguard Aura 2X Life RO Copper Water Purifier and Aquaguard Delight NXT RO+UV Water Purifier; vacuum cleaners encompassing canister, robotic, upright, wet and dry models under the Forbes brand; air purifiers; and home security solutions. The company operates through multi-channel distribution encompassing one of Asia's largest direct sales forces of over 10,000 personnel across 150+ customer response centers in more than 1,500 cities and towns in India, alongside retail, institutional, e-commerce, franchise, and rural channels, with an expansive service network ensuring post-sales support. It serves diverse customer segments including households, B2B clients such as banks, IT firms, hospitals, SMEs, hotels, educational institutions, and government entities like railways and armed forces via e-markets, while maintaining a growing international presence beyond India. Founded in 1982 as a joint venture between Tata Group's Forbes & Company and Sweden's Electrolux, Eureka Forbes Ltd. (EUREKAFORB.NS) is headquartered in Mumbai, India, with subsidiaries including Forbes Aquatech Limited, Infinite Water Solutions Private Limited, and Euro Forbes Limited. The company, previously part of the Shapoorji Pallonji Group, underwent a significant ownership change in 2022 when Advent International acquired the entire stake following its separation from Forbes & Company and listing on the BSE and NSE. Recent developments include sustained revenue growth with 5% year-over-year increase to INR 2,189 crore in FY24 and 12% to INR 1,227 crore in H1FY25, driven by cost rationalization, productivity improvements, and expansion in scale; achievement of a net debt surplus of INR 124 crore as of September 30, 2024, from INR 177 crore debt in March 2022; executive changes such as new CTO appointments; and analyst upgrades citing margin expansion, after-sales traction, and a total addressable market projected to grow from INR 108 billion in FY24 to INR 230 billion by FY29 at 11% CAGR.