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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹772 Cr
verified against source
Revenue YoY
14.9%
reported change
EBITDA
₹101.3 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Eureka Forbes delivered a strong Q2 FY26 with revenue of ₹773 crore (+14.9% YoY) and adjusted EBITDA crossing ₹100 crore for the first time, with margin expanding 162 bps to 13.1%. Growth was broad-based: product business (water, cleaning/robotics) grew high-teens, while service AMC bookings accelerated. The 2-year filter life water purifiers drove category expansion, with 70% of buyers being first-time entrants. Robotics now contributes ~60% of vacuum cleaner sales. Management expects sustained double-digit growth and margin expansion, though consumer demand remains challenging. Key risk: macro demand softness could pressure near-term volumes.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects continued double-digit growth in both products and service, driven by multiple growth engines.
- Management aims for full-year EBITDA margin improvement, though possibly less than last year's ~120 bps due to growth investments.
- Service AMC bookings growth accelerated in Q2 and is expected to continue at double-digit rates.
Risks flagged
- Consumer sentiment remains mixed and challenging, which could pressure volume growth.
- An analyst raised the issue of tenant-related service failures (e.g., address changes). Management acknowledged pilots were susceptible to gaming and are reworking the solution.
- H1 cash flow was impacted by working capital deployment due to seasonal billing and GST transition; unwinding expected in H2 but may not fully materialize.
Key quotes
- For the first time ever, we added more than rupees 100 crores of revenue year in a quarter.
- Our vision of transforming into a D2C company is merely a logical but digital extension of where our legacy lies.
- We believe that our structural advantages and guardrails on gross margin in the form of a healthy product and service mix portfolio give us several levers.
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