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10 Yrs X-Ray 
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About
Eureka Forbes Ltd (EUREKAFORB)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543482 NSE: EUREKAFORB Consumer Durables - Domestic Appliances | Small Cap | Eureka Forbes Share Price
₹395 -2.35 (-0.59%)
As on 11-Sep'26 16:59
Eureka Forbes Ltd (EUREKAFORB)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543482 NSE: EUREKAFORB Consumer Durables - Domestic Appliances | Small Cap | Eureka Forbes Share Price
₹395 -2.35 (-0.59%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹7,649 Cr.
Current Price
₹395
52-Week Low / High
₹355 / 669
TTM EPS
₹9.3
TTM Sales
₹2,802 Cr.
Book Value per Share
₹236.6
P/E Ratio
42.27
Lower than its 5-year historical median
Industry PE
49
Price to Book (P/B)
1.67
Lower than its 5-year historical median
Price to Sales (P/S)
2.73
Lower than its 5-year historical median
EV/EBITDA
20.98
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
3.67%
Underperforms industry median
Return on Capital Employed (ROCE)
5.04%
Underperforms industry median
Return on Assets (ROA)
2.49%
Operating Profit Margin
11.6%
Net Profit Margin
6%
Gross Profit Margin
12.2%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
11.26%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
18.33%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-1.09%
Asset Quality
Promoter Holding
62.55%
Pledged shares (%) of Promoter's holding (%)
53.66%
Reserves
₹4,387 Cr.
Equity
₹193.6 Cr.
Face Value
₹10
All Time Low / High
₹282.00 / 668.50
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Eureka Forbes Ltd a good quality company?
Eureka Forbes Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Eureka Forbes Ltd performance compare with that of its Peers?
Revenue growth of Eureka Forbes Ltd vs industry peers?
Eureka Forbes Ltd revenue CAGR is 221.80%, compared to the industry median CAGR of 6.10%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Eureka Forbes Ltd?
Promoters hold 62.55% of the Eureka Forbes Ltd, with 53.66% of their stake pledged, indicating high pledge risk.
Stock return of Eureka Forbes Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of -6.12% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Eureka Forbes Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 22.8% | -12.3% | -4.9% | -3.9% | -58% | 0.5% | 1.1% | 3.1% | 5.2% | 5% | - |
| Value Creation Index ⓘ | 0.7 | -1.9 | -1.4 | -1.3 | -5.3 | -1.0 | -0.9 | -0.8 | -0.6 | -0.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 33.5 | 26.5 | 25.9 | 16.3 | 7.9 | 381 | 2,080 | 2,189 | 2,436 | 2,710 | 2,803 |
| Sales YoY Gr. | - | -20.7% | -2.3% | -37% | -52% | 4,753.5% | 446% | 5.2% | 11.3% | 11.3% | - |
| Adj EPS ⓘ | 2.8 | -4.7 | -2.5 | -1.8 | -3.4 | 0.1 | 2.1 | 5.3 | 8.2 | 9.7 | 9.2 |
| YoY Gr. | - | -266.8% | NA | NA | NA | NA | 1675% | 147% | 55.9% | 18.8% | - |
| BVPS (₹) ⓘ | 9.3 | 4.7 | 2.3 | 3.6 | 0.3 | 210.2 | 210.8 | 215.5 | 223.7 | 232.3 | 235.1 |
| Adj Net Profit ⓘ | 0.8 | -1.3 | -0.7 | -0.9 | -1.6 | 2.3 | 41.2 | 102 | 159 | 189 | 177 |
| Cash Flow from Ops. ⓘ | 0.2 | 0.1 | 0.9 | 0.9 | 0.1 | 37.2 | 171 | 195 | 226 | 242 | - |
| Debt/CF from Ops. ⓘ | 18.1 | 79.1 | 5.1 | 1.7 | 16 | 6.5 | 0.7 | 0.1 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 63% | 221.8% | 9.2% | 11.3% | ||||
| Adj EPS ⓘ | 14.7% | NA | 66% | 18.8% | ||||
| BVPSⓘ | 43% | 280.8% | 3.3% | 3.8% | ||||
| Share Price | - | - | -8% | -30% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 35.4 | -67.5 | -70.5 | -73.9 | -171.7 | 0.1 | 1 | 2.5 | 3.7 | 4.2 | 3.9 |
| Op. Profit Mgn % ⓘ | 4.4 | -3.2 | -1.2 | -0.5 | -16.8 | 4.5 | 6.3 | 8.8 | 10.8 | 11.5 | 11.3 |
| Net Profit Mgn % ⓘ | 2.4 | -5 | -2.7 | -5.4 | -20.7 | 0.6 | 2 | 4.7 | 6.5 | 7 | 6.3 |
| Debt to Equity ⓘ | 1.4 | 3.3 | 6.9 | 0.9 | 10.8 | 0.1 | 0 | 0 | 0 | 0 | - |
| Working Cap Days ⓘ | 181 | 208 | 180 | 242 | 362 | 260 | 85 | 77 | 77 | 85 | 71 |
| Cash Conv. Cycle ⓘ | 21 | 29 | 18 | 13 | -1 | 46 | 10 | 11 | 19 | 33 | -1 |
Valuation of Eureka Forbes - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 100.00 | 53.66 | 53.66 | 53.66 | 53.66 | 53.66 | 53.66 | 53.66 | 53.66 | 53.66 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|
| Sales | 8 | 382 | 2,085 | 2,189 | 2,437 | 2,709 |
| Operating Expenses ⓘ + | 9 | 364 | 1,939 | 1,991 | 2,172 | 2,396 |
| Operating Profit ⓘ | -1 | 18 | 145 | 199 | 265 | 313 |
| Operating Profit Margin (%) | -16.8% | 4.6% | 7.0% | 9.1% | 10.9% | 11.6% |
| Other Income ⓘ + | 0 | 3 | 10 | 9 | 15 | 24 |
| Interest ⓘ | 0 | 4 | 20 | 10 | 6 | 8 |
| Depreciation ⓘ | 0 | 9 | 56 | 54 | 58 | 69 |
| Profit Before Tax ⓘ | -2 | 7 | 39 | 128 | 221 | 219 |
| Tax ⓘ | 0 | 4 | 12 | 33 | 56 | 57 |
| Profit After Tax | -2 | 3 | 26 | 96 | 164 | 163 |
| PAT Margin (%) | -20.8% | 0.7% | 1.3% | 4.4% | 6.8% | 6.0% |
| Adjusted EPS (₹) | -3.4 | 0.1 | 1.4 | 4.9 | 8.5 | 8.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 0 | 4,076 | 4,098 | 4,191 | 4,352 | 4,521 | |||||
| Debt + | 2 | 243 | 121 | 25 | 0 | 0 | |||||
| Minority Interest | 0 | 1 | 1 | 1 | 1 | 1 | |||||
| Trade Payables | 5 | 221 | 209 | 194 | 183 | 231 | |||||
| Others Liabilities ⓘ | 1 | 1,585 | 1,601 | 1,717 | 1,800 | 1,981 | |||||
| Total Liabilities ⓘ | 7 | 6,127 | 6,029 | 6,128 | 6,337 | 6,734 | |||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 0 | 5,505 | 5,481 | 5,463 | 5,471 | 5,512 | |||||
| CWIP ⓘ | 0 | 0 | 2 | 1 | 2 | 7 | |||||
| Investments ⓘ | 0 | 62 | 76 | 55 | 59 | 63 | |||||
| Inventories | 2 | 290 | 220 | 253 | 253 | 379 | |||||
| Trade Receivables | 2 | 150 | 124 | 138 | 180 | 233 | |||||
| Cash Equivalents | 1 | 19 | 21 | 98 | 252 | 413 | |||||
| Others Assets ⓘ | 2 | 101 | 105 | 121 | 120 | 126 | |||||
| Total Assets ⓘ | 7 | 6,127 | 6,029 | 6,128 | 6,337 | 6,734 | |||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 0 | 37 | 181 | 194 | 246 | 250 |
| Cash Flow From Investing Activity ⓘ + | 0 | -4 | -26 | -32 | -168 | -198 |
| Cash Flow From Financing Activity ⓘ + | -0 | -31 | -154 | -120 | -43 | -22 |
| Net Cash Flow ⓘ | -0 | 2 | 1 | 43 | 34 | 30 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | 0.13 | 0.65 | 2.31 | 3.85 | 3.67 | ||||
| ROCE (%) | N/A | 0.53 | 1.38 | 3.26 | 5.23 | 5.04 | ||||
| Asset Turnover Ratio | 1.1 | 0.12 | 0.34 | 0.36 | 0.39 | 0.41 | ||||
| PAT to CFO Conversion(x) | N/A | 12.33 | 6.96 | 2.02 | 1.5 | 1.53 | ||||
| Working Capital Days | ||||||||||
| Receivable Days | 109.60 | 73 | 24 | 21.80 | 23.80 | 27.90 | ||||
| Inventory Days | 94.90 | 139.80 | 44.70 | 39.40 | 37.90 | 42.60 | ||||
| Payable Days | 255.70 | 255 | 94.10 | 82.60 | 68.30 | 68.50 | ||||
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Eureka Forbes Ltd FAQs
The current trading price of Eureka Forbes on 11-Sep-2026 16:59 is ₹395.0.
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 10-Sep-2026 the market cap of Eureka Forbes stood at ₹7,648.7 Cr
The latest P/E ratio of Eureka Forbes as of 10-Sep-2026 is 43.18.
The latest P/B ratio of Eureka Forbes as of 10-Sep-2026 is 1.68.
The 52-week high of Eureka Forbes is ₹668.5 and the 52-week low is ₹355.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Eureka Forbes is ₹2,803 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Eureka Forbes Ltd is a average quality company.
The key valuation ratios of Eureka Forbes Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Eureka Forbes Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Eureka Forbes Ltd
Founded as a joint venture between Forbes and Campbell (a Tata Group company) and Electrolux of Sweden, Eureka Forbes is a multi-product, multi-channel organization. A former part of the renowned Shapoorji Pallonji Group, Eureka Forbes (formerly Forbes Enviro Solutions Limited) is India’s leading health and hygiene brand. In addition to being one of Asia’s largest direct sales forces, it has retail, institutional and e-commerce channels, an inventive franchise business partner network, a rural channel and one of the most expansive service networks in India.
Eureka Forbes has been a pioneer and trendsetter in direct sales in India and is one of the largest direct-selling companies in the world today.
Business area of the company
The company is engaged in the business of manufacturing, selling and servicing of water filter-cum-purifiers, vacuum cleaners, air purifiers, water treatment plants, and other household appliances, etc., with a legacy of many decades. It also has a strong distribution and after sale service network to maintain health and hygiene across Indian households. The Company has been a pioneer and a trailblazer in direct marketing in India.
Products
- Water Purifiers
- Vacuum Cleaners
- Coronaguard
- Air Purifiers
- Water Solution
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