Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 5 Oct
Source: Bse
Eureka Forbes Limited (EUREKAFORB)
Micro CapConsumer stocks · Micro cap · NSE
Eureka Forbes Limited is India’s leading health and hygiene brand with over four decades of existence. It is a multi-product, omni-channel organization, offering water purification, vacuum cleaning, and air purification products through direct, retail, e-commerce, institutional, and service networks across India.
₹331.6
-15.75 · -4.53%
Market cap ₹6,717 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result12 Aug, 02:59 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
31Bearishfull bear SMA stack · SMA20 -13.9% / mo · RSI oversold · MACD + · near 52W low · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 28
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
EUREKAFORBD candles · FIT view-35.0%Latest close ₹331.60 on 2026-10-19
Bar
-3.9%
RSI
30
MACD hist
1.00
52W pos
0%
2026-10-19O ₹345.10H ₹348.80L ₹330.80C ₹331.60Vol 1.1L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
EUREKAFORBNifty Consumer DurablesNifty 500
- EUREKAFORB
- -28.2%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- -22.6 pp
Chart stats
19 Oct 2026- From 52W high
- -50.4%
- 52W range position
- 0%
- ATR (14)
- 4.0%
- Volume vs 20D
- 0.49x
- Avg traded value
- ₹7.1 Cr
- 20D price channel
- ₹330.8 - ₹388.3
₹668.3
₹330.8 - ₹668.3
₹13.3
Latest completed session
20-session average
31.3% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST38
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good67
Revenue +15.1% · PAT +46.1% YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model-6.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 67/100Rev +15% YoY · PAT +46% YoY · operating leverage · margin compression
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹700 Cr | +15.1% | +2.3% |
| EBITDA | ₹69 Cr | +13.1% | -19.8% |
| Operating margin | 10.0% | +0 bps | -300 bps |
| PAT | ₹57 Cr | +46.1% | +11.8% |
| PAT margin | 8.1% | +173 bps | +68 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 33.00
- P/B
- 1.46
- EV/EBITDA
- 17.17
- Market Cap
- 6717.00Cr
Profitability
- ROE
- 4.28%
- ROCE
- 5.91%
- ROA
- 2.69%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 222.00%
- EPS 5Y
- 161.00%
- Revenue 3Y
- 9.00%
- EPS 3Y
- 66.00%
Balance Sheet
- Debt/Equity
- 0.01
- Interest Coverage
- 40.13×
- Altman Z
- 3.62
- Book Value
- 238.00
Cash Flow
- FCF Yield
- 0.77%
- FCF Positive Y
- 5/5
- OCF
- 250.00 Cr
- EPS TTM
- 9.36
Shareholding
- Promoter Hold
- 62.55%
- Promoter Pledge
- 53.70%
- Momentum 52W
- 4%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 2,802+3.4% vs prev
Net Profit
₹ CrLatest: 163-0.6% vs prev
Return on Equity
%Latest: 3.5-4.8% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 30. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~16.1% over last month) — short-term momentum negative.
- RSI(14) at 30 — oversold zone; bounce conditions.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
9
RS percentile
Stage 4 Downtrend
1M return
-13.9%
3M return
-28.2%
6M return
-33.2%
1Y return
-41.4%
RS 1D
-1
RS 20D
-5
Sector rank
#9
Industry rank
#59
Stage evidence
- Price is 25.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 59.91-3.54%
RS vs Nifty 50060
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 38 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation1/30
Growth18/25
Quality0/20
Balance Sheet9/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
38
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
38/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 18/25 to the score.
- Balance sheet contributes 9/15 to the score.
Main drags
- Promoter pledge is 53.7%.
- Fair-value margin of safety is negative at -6.4%.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
33.0
PB
1.5
EV/EBITDA
17.2
ROE
4.3%
ROCE
5.9%
FCF Yield
0.8%
Debt/Equity
0.0
MoS
-6.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
38
Previous: 38
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-6.4%
Previous: -6.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
37
39
39
39
39
39
38
38
38
38
38
38
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹223.88
-48.1% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹311.69
-6.4% MoS
PEG
0.27
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SFL
Micro
Sheela Foam Limited
Consumer Durables
match 61
28
33.1
4.8%
-625%
OVERVALUED
SAFARI
Micro
Safari Industries (India) Limited
Consumer Durables
match 60
52
39.3
15.9%
-18%
FAIR VALUE
CELLO
Micro
Cello World Limited
Consumer Durables
match 59
38
26.7
13.2%
+22%
WATCHLIST
IFBIND
Micro
IFB Industries Limited
Consumer Durables
match 58
59
28.6
15.7%
+16%
FAIR VALUE
BAJAJELEC
Micro
Bajaj Electricals Limited
Consumer Durables
match 56
21
—
-0.7%
—
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T07:38:26.226Z
Management commentary snapshot
Q4 FY26 revenue grew 11.6% YoY, with Adjusted EBITDA margin at a record 13.2%. FY26 saw 11.3% revenue growth, 55bps EBITDA margin expansion to 12.2%, and PAT (pre-exceptional) up 19.3%, driven by Water Purifiers and Emerging Categories.
EUREKAFORB delivered robust Q4 and FY26 results, with double-digit revenue growth and consistent margin expansion. Strategic investments in growth engines and service transformation are yielding results, strengthening the balance sheet despite a challenging macro environment. Management's focus on sustained profitable growth appears on track.
Growth engines
Water Purifiers
Delivered double-digit growth in Q4 FY26 and identified as a key growth engine for FY26.
Robotics
Continued its break-out performance, on the back of omni-channel growth, achieving 3x growth in FY26 over FY24.
Emerging Categories (Softeners & Air Purifiers)
Delivered strong growth in Q4 and FY26; Air Purifiers revenue scaled to 4x YoY in Q4 FY26 on a low base.
Service Business
Momentum continues with double-digit growth in service bookings during Q4 FY26.
Capacity and execution
Capex Investments
FY26 Capex at Rs. 84 Cr, representing a 53% YoY increase, accelerating investments for structural long-term growth.
Tailwinds
Urbanization
By 2036, 40% of Indians are projected to live in towns and cities, up from 31% in 2011.
Growing Incomes
The middle class is the fastest growing segment of the population, projected to reach 1 Billion by 2047.
Health & Hygiene Awareness
Increasing importance given to health & hygiene; increased frequency of cleaning homes post-Covid.
Piped Water Access
Piped water access increased from 16.8% of households in 2019 to 77.2% in 2024.
Headwinds
Input Cost Inflation
Recent West Asia crisis led to significant increase in input costs.
Fuel Price Pressures
Increase in fuel prices is expected to create further cost pressures.
Consumer Sentiment
Inflationary headwinds may impact consumer sentiment.
Risk radar
Macroeconomic Volatility
The company operates in an uncertain and challenging external environment.
Competitive Intensity & Pricing
Risks include competitive intensity and the pricing environment in the market.
Input Cost & Currency Fluctuations
Changes in input costs, commodity prices, and currency rates can affect profitability.
Regulatory & Taxation Changes
Significant changes in government regulations and taxation pose risks.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for assessing annual growth trends and margin expansion, especially for a consumer business. QoQ comparison provides insight into sequential momentum and the impact of recent strategic initiatives and market conditions.
Sector KPIs management disclosed
Revenue Growth (Q4 FY26)
11.6% YoY, led by double-digit growth in Water Purifiers and strong growth in Emerging Categories.
Revenue Growth (FY26)
11.3% YoY, marking the second consecutive year of double-digit growth.
Gross Margin (FY26)
Increased by 46 bps to 58.8% and continued to remain resilient.
Adj. EBITDA Margin (Q4 FY26)
Expanded 17bps YoY to 13.2%; highest ever quarterly margin.
Management forward view
FY26 Performance
Management closed FY26 with a strong quarter and solid full-year performance despite a challenging external environment.
Quality of Growth
Growth was broad-based across categories, channels, and geographies, with improved customer experience.
Future Focus
Will remain sharply focused on driving growth through sustained investments and sharper execution, and on driving profitability by aggressively reducing inefficiencies and improving productivity.
Confidence in Outlook
Confident that the company will continue to deliver sustained, profitable growth ahead with a strong foundation and strategy.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | 11.3% (FY26) | Sustained double-digit growth across categories and channels, indicating continued market penetration and share gains. |
| Adj. EBITDA Margin | 12.2% (FY26) | Continued margin expansion despite growth investments and potential input cost pressures. |
| Net Surplus | Rs 443.3 Cr (FY26) | Further strengthening of the balance sheet and consistent robust cash generation. |
| Emerging Categories Growth | Robotics 3x (FY26 over FY24), Air Purifiers 4x YoY (Q4 FY26) | Momentum in new product categories and successful new launches to diversify revenue streams. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
67Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 52nd percentile of the scored universe and 55th percentile within Consumer. Main check: financial discipline is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
67 docs text-extracted · 25 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Consumer: 55th pctile, median 66 · Micro: 32nd pctile, median 73
Evidence depth
Financial-only
67 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
43
weak · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
40
weak · capital discipline
Results
80
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 62.6%.
- ▸FCF yield is positive at 0.6%.
- ▸5 years of positive FCF.
- ▸Debt/equity is 0.01.
Trust risks
- ▸Promoters have pledged 53.7% of holding.
- ▸ROCE is low at 5.9%.
- ▸ROE is low at 4.3%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Eureka Forbes Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 5 Oct
Source: Bse
Credit ratingSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Credit Rating 8 Sep - CRISIL upgraded Eureka Forbes’ corporate credit rating to AA/Stable from AA-/Positive on September 8, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 3 Sep - It has allotted securities pursuant to exercise of options granted
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Company Ir
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Earnings Call Transcript 19 Aug - Transcript of the Earnings Call held with Analyst/Investors on August 13, 2026
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - The Copies of newspaper advertisement pertaining to the Financial Results of the Company for the Quarter ended June 30, 2026 published in Financial Express ....
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 12 Aug - Eureka Forbes reported Q1 FY27 revenue of Rs 700.8 crore, PAT of Rs 55.4 crore, up 43.9% YoY.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 16 Jun - It has allotted securities pursuant to exercise of options granted
Source: Bse
Concall transcriptMay 2026
May 2026 · Transcript
Source: Bse
Investor presentationMay 2026
May 2026 · PPT
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.