Eureka Forbes Ltd. Results

Q2FY25 Quarterly Result Announced for Eureka Forbes Ltd.

Consumer Electronics company Eureka Forbes announced Q2FY25 results Revenue from operations increased 13.6% YoY to Rs 672.9 crore. Continuing business grew higher at 14.7% YoY. Adjusted (Adj.) EBITDA increased 25.1% YoY to Rs 77.5 crore from Rs 62.0 crore in Q2FY24; Adj. EBITDA margin improved 106bps YoY to 11.5%. Adj. PBT (before exceptional items and ESOP) increased 36.2% YoY to Rs 65.1 crore from Rs 47.8 crore in Q2FY24. Profit After Tax increased 83.2% YoY to Rs 46.7 crore from Rs 25.5 crore in Q2FY24. The company got listed on the National Stock Exchange (NSE) on 11th September 2024; NSE scrip symbol - EUREKAFORB. Pratik Pota, MD, and CEO, Eureka Forbes, said: “Our transformation efforts continued to gain momentum with a strong performance in Q2FY25. Driven by a range of innovations across both Water and Cleaning, increased marketing investments and onset of an earlier festive season, we delivered a 14.7% continuing business growth in Q2, making this the fourth successive quarter of double-digit growth in our continuing business. Growth continued to be broad based and product business grew in excess of 20%. The impact of growth led to operating leverage benefits and despite the sharp step up in advertising investments, adjusted EBITDA margin expanded 106 bps and Profit after Tax grew 83% YoY. With strong double-digit growth for the last four consecutive quarters, and our transformation efforts continuing, we are excited about what lies ahead and remain confident of driving sustained and profitable growth in the future.”

Q1FY25 Quarterly Result Announced for Eureka Forbes Ltd.

Consumer Electronics company Eureka Forbes announced Q1FY25 results: Revenue from operations increased 9.4% YoY to Rs 552.8 crore Continuing businesses grew higher at 10.8% YoY. Adjusted (Adj.) EBITDA increased 27.9% YoY to Rs 63.4 crore from Rs 49.6 crore in Q1 FY24; Adj. EBITDA margin improved 166bps YoY to 11.5%. Adj. PBT (before exceptional items and ESOP) increased 44.3% YoY to Rs 50.2 crore from Rs 34.8 crore in Q1 FY24. Profit After Tax increased 40.7% YoY to Rs 31.0 crore from Rs 22.1 crore in Q1 FY24. Commenting on the Q1FY25 performance, Pratik Pota, MD, and CEO, Eureka Forbes Limited said, "Despite a muted demand environment, we are pleased to report the third successive quarter of double-digit growth in our continuing business which grew by 10.8% in Q1. Growth was broad-based across both Water Purifier and Vacuum Cleaner categories and the service business, with our premium products across both Water and VCs being the engines of growth. We made progress on the profitability front too with EBITDA margins for Q1 reaching a lifetime high of 11.5%, an improvement of 166bps year on year. Looking ahead, we have strong conviction in our strategy and believe that we have the right set of plans to drive sustained and profitable growth in the future."

Q4FY24 Quarterly & FY24 Annual Result Announced for Eureka Forbes Ltd.

Consumer Electronics company Eureka Forbes announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from operations increased 8.8% YoY to Rs 553.1 crore. Continuing businesses grew higher at 11.4% YoY. Adjusted (Adj.) EBITDA increased 30.6% YoY to Rs 61.9 crore from Rs 47.4 crore in Q4 FY23; Adj. EBITDA margin improved 186bps YoY to 11.2%, the highest ever Adj. PBT (before exceptional items and ESOP) increased 38.9% YoY to Rs 48.6 crore from Rs 35.0 crore in Q4 FY23. Profit After Tax increased 31.1% YoY to Rs 21.4 crore from Rs 16.3 crore in Q4 FY23. Adj. PAT (pre-ESOP) increased 81.0% YoY to Rs 29.5 crore from Rs 16.3 crore in Q4 FY23. FY24 Financial Highlights: Revenue from operations increased 5.2% YoY to Rs 2,189.2 crore. Continuing businesses grew at 7.9% YoY. Adj. EBITDA increased 71.9% YoY to Rs 226.3 crore from Rs 131.7 crore in FY23; Adj. EBITDA margin improved 401bps YoY to 10.3%. Adj. PBT (before exceptional items and ESOP) increased 156.8% YoY to Rs 172.0 crore from Rs 67.0 crore in FY23. Profit After Tax increased 435.5% YoY to Rs 91.5 crore from Rs 17.1 crore in FY23. Adj. PAT (pre-ESOP) increased 590.3% YoY to Rs 118.0 crore from Rs 17.1 crore in FY23. Commenting on the Q4 FY24 and FY24 performance, Pratik Pota, MD, and CEO, Eureka Forbes Limited 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 194 crore. 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.”

Q3FY24 Quarterly Result Announced for Eureka Forbes Ltd.

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.”