StockWatch
·

Eureka Forbes Ltd

BSE: 543482

P/L Snapshot

Q1 FY27 · standalone

vs Q4 FY26·vs Q1 FY26
Revenue
707.96
+2.8%+15.1%
Expenditure
653.06
+5.3%+16.0%
Net Profit
55.44
+8.5%+43.9%
OPM %
12.40%
-0.06pp+2.32pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
0.00218.21436.42654.63872.84Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Price Chart
Reports

15% Growth, 6% Profit—Where Eureka Forbes' Leverage Went

earnings-review · profit-leverage · margin-compression

Result verdictFollow-upQ1 FY2719 Aug 20266 minConsumer & Retail

Strong growth masks profit shortfall; margin maintained, not raised

volume-led growth · margin compression · service weakness

TranscriptDeep diveQ1 FY2719 Aug 20266 minConsumer & Retail

Eureka Forbes Q1FY27: consolidated PAT +47% flattered by one-off; OPM slips to 9.9%

consumer durables · water purifiers · margin compression

ResultsQ1 FY2712 Aug 20263 minConsumer & Retail
Latest
Board Meeting12 Aug, 2:56 pm

Eureka Forbes Q1FY27: consolidated PAT +47% flattered by one-off; OPM slips to 9.9%

Eureka Forbes reported consolidated revenue from operations of ₹700.4 Cr for Q1 FY27 (quarter ended June 30, 2026), up 15.2% YoY from ₹607.9 Cr and up 2.4% QoQ from ₹683.7 Cr. Consolidated PAT came in at ₹57.0 Cr, up 47.3% YoY and 11.7% QoQ, with basic EPS of ₹2.93 versus ₹1.99 a year ago. No Q1FY27-specific brokerage consensus could be located — the results were only approved by the board today; the only market estimate found was Trendlyne's full-year FY27 consensus (13 analysts) of roughly 13.5% revenue growth and 44.7% PAT growth, which is a full-year figure and not a valid single-quarter benchmark, so vsStreet is marked unknown rather than inferred. The PAT headline is flattered by a one-off: during the quarter the company amended its gratuity scheme to align with the Payment of Gratuity Act, 1972, and the resulting actuarial remeasurement produced a ₹19.54 Cr reversal of gratuity expense, booked as an exceptional item (identical amount in both standalone and consolidated). Stripping that out, profit before exceptional items and tax was ₹57.1 Cr, and adjusted PAT works out to roughly ₹42.5 Cr — putting underlying YoY PAT growth at approximately +9.7%, well below the reported +47.3% and also trailing the 15.2% revenue growth, meaning operating leverage worked against the company this quarter. That shows up directly in the operating margin: OPM (revenue-based operating profit margin, unaffected by the exceptional item) compressed to 9.9% from 10.1% a year ago and fell sharply from 12.5% in Q4 FY26. This runs counter to management's Q4 FY26 concall guidance to "at least hold margins in FY27 despite cost inflation" — on this quarter's print that commitment was not met, even though the volume-led revenue growth they targeted did materialise. No management press release accompanied this filing, so there is no fresh commentary to cross-check against the numbers beyond the standard board disclosures. Alongside the results, promoter entity Lunolux Midco disclosed encumbrance of 62.55% of its stake and Catalyst Trusteeship separately disclosed a pledge of 11.4 million shares in the weeks before the results — a shareholding/governance datapoint worth flagging, though unrelated to this quarter's operating performance. Employee costs this quarter also carried a ₹6.66 Cr (₹665.96 lakh) ESOP share-based payment charge under Ind AS 102. Going into Q2 FY27, the read-through is a company still growing revenue at a healthy volume-led clip but without margin expansion once the one-off gratuity credit is stripped out. The earnings call scheduled after this filing should clarify whether the OPM dip to 9.9% is transient (cost timing, input inflation, growth investment) or signals renewed pressure against the FY27 "hold margins" commitment.

12 Aug 2026, 02:56 pm

Corporate Events

Board MeetingEUREKAFORB
2026
19Aug

Board Meeting

The 17th Annual General Meeting ("AGM") of Eureka Forbes Lim…

BSE Filing
Board MeetingEUREKAFORB
2026
12Aug

Board Meeting

The meeting of the Board of Directors will be held to consid…

BSE Filing
Board MeetingEUREKAFORB
2026
4Feb

Board Meeting

Approval of Unaudited Standalone and Consolidated Financial …

BSE Filing
Board MeetingEUREKAFORB
2025
11Aug

Board Meeting

Approval of Unaudited Standalone and Consolidated Financial …

BSE Filing
Board MeetingEUREKAFORB
2025
10Feb

Board Meeting

Approve Unaudited Standalone and Consolidated Financial Resu…

BSE Filing
Board MeetingEUREKAFORB
2024
7Nov

Board Meeting

Considering And Approving The Unaudited Standalone And Conso…

BSE Filing
Board MeetingEUREKAFORB
2024
8Aug

Board Meeting

Consider and approve the Unaudited Standalone and Consolidat…

BSE Filing
Board MeetingEUREKAFORB
2024
28May

Board Meeting

Consider and approve Audited Standalone and Consolidated Fin…

BSE Filing
Board MeetingEUREKAFORB
2024
14Feb

Board Meeting

consider and approve Unaudited Standalone and Consolidated F…

BSE Filing
Board MeetingEUREKAFORB
2023
10Nov

Board Meeting

Consider and approve the Unaudited Standalone and Consolidat…

BSE Filing
Board MeetingEUREKAFORB
2023
8Aug

Board Meeting

Consideration of Financial Results for the Quarter ended Jun…

BSE Filing