Eureka Forbes Limited (EUREKAFORB) AI Stock Analysis

Eureka Forbes Limited

(NSE:EUREKAFORB)

Select Model

Rating:64Neutral

Price Target:INR 335.00▲(7.15% Upside)

Action:reiterated

Date:08/20/26

The score is supported primarily by strong financial performance—rapid growth, positive and improving free cash flow, and very low leverage. This is tempered by weak technicals (price below key moving averages with negative MACD) and a high P/E multiple with no dividend yield provided, which reduces near-term risk/reward attractiveness.

Positive Factors

Strong Revenue GrowthThe sharp FY2026 revenue increase indicates substantial expansion in the company’s operating scale and customer demand. If sustained, this growth can improve fixed-cost absorption, support broader distribution and service monetization, and provide a stronger base for future earnings generation.

Negative Factors

Modest Return on EquityA modest return on equity suggests the company is not yet generating high earnings from its capital base despite having very little debt. Unless profitability improves, this may limit the efficiency of reinvestment and reduce the long-term returns produced from balance-sheet expansion.

Eureka Forbes Limited (EUREKAFORB) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 60.61B
Dividend Yield: ―
Average Volume (3M): 15.63K
Price to Earnings (P/E): 33.6
Beta (1Y): 1.20
Revenue Growth: 12.45%
EPS Growth: 5.84%
Country: India
Employees: 2,669
Sector: General
Sector Strength: 55
Industry: Furnishings, Fixtures & Appliances

Eureka Forbes Limited Business Overview & Revenue Model

Company Description

Established in 1982 and based in Mumbai, India, Eureka Forbes Limited is engaged in the manufacturing, distribution, rental, sale, and servicing of various products. These include vacuum cleaners, water purification and filtration systems, electronic...

How the Company Makes Money

Eureka Forbes primarily makes money by selling home and household-health products, led by water purification systems (e.g., Aquaguard) and vacuum-cleaning products (e.g., Forbes). Revenue is generated through (1) direct product sales via a mix of cha...

Eureka Forbes Limited Financial Statement Overview

Summary

Strong recent revenue expansion (FY2026 vs FY2025 ~98% growth), solid operating profitability, and positive/accelerating free cash flow, supported by a very low-debt balance sheet. Offsets include an apparent FY2025 gross profit/margin anomaly that reduces confidence in margin stability and only modest ROE (~3.7%).

Income Statement

72Positive

Balance Sheet

90Very Positive

Cash Flow

78Positive

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2024
Income Statement
Total Revenue	13.70B	27.09B	24.22B
Gross Profit	7.92B	8.53B	119.23M
EBITDA	1.86B	3.13B	2.84B
Net Income	1.12B	1.64B	1.64B
Balance Sheet
Total Assets	67.87B	67.35B	63.38B
Cash, Cash Equivalents and Short-Term Investments	3.11B	4.76B	3.11B
Total Debt	1.05B	289.17M	255.53M
Total Liabilities	22.66B	21.35B	19.28B
Stockholders Equity	45.20B	45.99B	44.09B
Cash Flow
Free Cash Flow	905.05M	1.76B	1.86B
Operating Cash Flow	1.77B	2.64B	2.46B
Investing Cash Flow	-2.54B	-2.16B	-1.68B
Financing Cash Flow	-65.65M	-177.65M	-433.86M

Eureka Forbes Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price312.65

Price Trends

50DMA373.91Negative

100DMA414.32Negative

200DMA453.93Negative

Market Momentum

MACD-17.33Negative

RSI33.01Neutral

STOCH38.32Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EUREKAFORB, the sentiment is Negative. The current price of 312.65 is below the 20-day moving average (MA) of 332.86, below the 50-day MA of 373.91, and below the 200-day MA of 453.93, indicating a bearish trend. The MACD of -17.33 indicates Negative momentum. The RSI at 33.01 is Neutral, neither overbought nor oversold. The STOCH value of 38.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:EUREKAFORB.

Eureka Forbes Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:EUREKAFORB against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:EUREKAFORB	64Neutral	INR 60.52B	33.63	―	―	12.45%	5.84%
IN:CROMPTON	62Neutral	INR 123.60B	-70.16	―	1.56%	12.09%	-137.18%
IN:ORIENTELEC	62Neutral	INR 38.56B	30.82	―	0.83%	16.93%	41.82%
IN:WHIRLPOOL	62Neutral	INR 103.26B	41.18	―	0.61%	6.03%	-30.48%
IN:IFBIND	59Neutral	INR 41.73B	28.25	―	―	14.29%	16.62%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BAJAJELEC	53Neutral	INR 30.93B	-113.26	―	1.12%	-4.73%	-126.31%

* General Sector Average

Performance Comparison

IN:EUREKAFORB and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:EUREKAFORB	Eureka Forbes Limited	312.65	-233.20	-42.72%
IN:BAJAJELEC	Bajaj Electricals Limited	267.95	-230.56	-46.25%
IN:CROMPTON	Crompton Greaves Consumer Electricals Ltd.	191.95	-88.82	-31.63%
IN:IFBIND	IFB Industries Ltd	1029.80	-815.00	-44.18%
IN:ORIENTELEC	Orient Electric Ltd.	180.70	-30.92	-14.61%
IN:WHIRLPOOL	Whirlpool Of India Limited	813.90	-554.35	-40.52%

Eureka Forbes Limited Corporate Events

Eureka Forbes contests Rs 273 crore GST show cause notice from UP tax authority

Sep 28, 2026

Eureka Forbes Limited has disclosed that it received a show cause notice from the Uttar Pradesh GST Authority for FY 2022-23, alleging tax, interest and penalty demands aggregating to Rs 273.40 crore. The proposed demand has reportedly been computed...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 20, 2026

Eureka Forbes Limited AI Stock Analysis