Eureka Forbes Ltd Share Price – BSE

Consumer Durables, Small Cap

Eureka Forbes has approved the listing and trading of equity shares of the company on the main board of NSE. The company will initiate the necessary steps and submit the requisite applications to NSE for the listing process.

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Total expenses rose by 3.1% year-over-year (YoY) to Rs 264.3 crore during the quarter, due to higher employee expenses (up 22% YoY) and higher service charges (up 3.1% YoY). This was offset to some extent by lower other expenses (down 6.8% YoY).

EBITDA improved by 11.1% to Rs 52.7 crore in Q4 FY24 from Rs 47.4 crore in Q4 FY23. EBITDA margin was 9.5% in Q4 FY24 as against 9.3% in Q4 FY23.

Profit before tax in Q4 FY24 stood at Rs 24.2 crore, down by 6.3% from Rs 25.8 crore in Q4 FY23.

For FY24, Eureka Forbes has reported net profit and revenue of Rs 91.5 crore (up 5.4x YoY) and Rs 2,189.2 crore (up 5.2% YoY), respectively.

Pratik Pota, MD, and CEO, Eureka Forbes, 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 194Cr.

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.”

Eureka Forbes is India’s leading health and hygiene brand. With over four decades of existence, it is today a multi-product and an omni-channel organization. Eureka Forbes’ product portfolio encompasses water purification, vacuum cleaning and air purification. It has direct, retail, e-commerce and institutional sales channels, an inventive business partner network and one of the most expansive service networks across India.

The scrip rose 1% to end at Rs 434.30 on the BSE today.

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Net profit of Eureka Forbes rose 3.89% to Rs 21.39 crore in the quarter ended March 2024 as against Rs 20.59 crore during the previous quarter ended March 2023. Sales rose 8.84% to Rs 553.56 crore in the quarter ended March 2024 as against Rs 508.58 crore during the previous quarter ended March 2023.

For the full year,net profit rose 260.09% to Rs 95.64 crore in the year ended March 2024 as against Rs 26.56 crore during the previous year ended March 2023. Sales rose 5.02% to Rs 2189.25 crore in the year ended March 2024 as against Rs 2084.51 crore during the previous year ended March 2023.

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Eureka Forbes will hold a meeting of the Board of Directors of the Company on 28 May 2024.

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