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View Risks →Eureka Forbes Limited — Q1 FY26
Eureka Forbes delivered a resilient Q1 FY26 with revenue of ₹607.7 crore (+9.9% YoY) and PAT of ₹38.5 crore (+24.1% YoY), despite a challenging demand environment and headwinds in cooling products.
bullish
high
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Eureka Forbes delivered a resilient Q1 FY26 with revenue of ₹607.7 crore (+9.9% YoY) and PAT of ₹38.5 crore (+24.1% YoY), despite a challenging demand environment and headwinds in cooling products. Growth was driven by double-digit volume and value expansion in the products business, led by economy water purifiers and robotics vacuum cleaners (52% growth). The service business saw a decisive turnaround with double-digit booking growth, though revenue recognition lags to Q4. Adjusted EBITDA margin contracted 46bps to 11% due to higher service charge payouts and growth investments. Management reiterated full-year margin improvement ambition, citing operating leverage and cost efficiencies. Key risk: sustained competitive intensity could pressure pricing and market share.
यूरेका फोर्ब्स ने पहली तिमाही (अप्रैल-जून 2025) में ₹607.7 करोड़ की कमाई की, जो पिछले साल से 9.9% ज़्यादा है। मुनाफा ₹38.5 करोड़ रहा, जो 24.1% बढ़ा। यह मुश्किल बाजार और कूलिंग प्रॉडक्ट्स में कम बिक्री के बावजूद हुआ। कंपनी के प्रॉडक्ट्स (जैसे सस्ते पानी के फिल्टर और रोबोटिक वैक्यूम क्लीनर) की बिक्री दोगुने अंकों में बढ़ी। रोबोटिक वैक्यूम क्लीनर की बिक्री 52% बढ़ी। सर्विस बिज़नेस में भी बुकिंग बढ़ी, लेकिन इसका पैसा चौथी तिमाही में आएगा। कंपनी का एडजस्टेड EBITDA मार्जिन 11% रहा, जो पिछले साल से थोड़ा कम है। इसकी वजह सर्विस चार्ज और निवेश बढ़ना है। कंपनी का कहना है कि लागत बचत से पूरे साल मार्जिन सुधरेगा। खतरा: प्रतिस्पर्धा बढ़ने से कीमतें और बाजार हिस्सेदारी कम हो सकती है।
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Robotics growth
52%
+52% YoY
Robotics vacuum cleaner sales grew 52% YoY, driving strong double-digit growth in the vacuum cleaner category.
Online AMC bookings share
64%
+54pp vs historical 10%
Nearly two-thirds of AMC bookings are now digital, up from ~10% two years ago, improving customer retention.
Installed base of water purifiers
14M
N/A
Eureka Forbes has an installed base of ~14 million water purifier customers, with low service penetration offering runway.
Water purifier category penetration
6%
N/A
India's water purifier penetration is only 6% (urban 12%, rural 3%), vs 20-60% in peer countries, indicating massive headroom.
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Guidance and risk preview
Management aims for EBITDA margin expansion on a full-year basis, driven by operating leverage and cost efficiencies, despite Q1 margin contraction.
Multiple new entrants and scaled-up competitors in water purifiers could pressure pricing and market share, though management claims share held ste...
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