Eureka Forbes Limited · NSE:EUREKAFORB
Eureka Forbes — Q4 FY26 Earnings Presentation
45 slides from Eureka Forbes's earnings presentation, May 19, 2026
Slide 1: Filing letter to BSE and NSE on Q4 FY26 results
May 19, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block - G, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 543482 Scrip ID: EUREKAFORB Symbol: EUREKAFORB Ref.: EFL/BSE/2026-27/06 Ref.:
Slide 2: Press Release: Financial Results for Q4 & FY26
PRESS RELEASE Mumbai, May 19, 2026 Financial Results for Q4 & FY26 Q4 FY26: Healthy and broad-based revenue growth of 11.6% YoY; Highest ever Adjusted EBITDA margin at 13.2% Eureka Forbes Limited, one of India’s largest health and hygiene companies, today announced its financial results for the quar
Slide 3: CEO commentary on performance
Commenting on the performance, Mr. Pratik Pota, MD, and CEO, Eureka Forbes Limited said, “We closed FY26 with a strong quarter and a solid full-year performance despite a challenging external environment. Q4 revenue grew 11.6% YoY and we delivered our highest- ever quarterly adjusted EBITDA margin o
Slide 4: Q4 FY26 & FY26 Earnings Presentation
Q4 FY26 & FY26 Earnings Presentation May 19, 2026
Slide 5: Disclaimer
Disclaimer The statements contained in this document speak only as at the date as of which they are made and certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ with
Slide 6: Agenda
➢ Q4FY26 Highlights ➢ Strategy Update ➢ FY26 Highlights ➢ Overview ➢ Eureka Forbes ➢ Industry 3
Slide 7: Executive Summary (1/2)
Executive Summary (1/2) Growing Category Awareness Revenue Growth of 11.6% YoY Service Business Robust Growth growth in a Service business turnaround challenging environment Significantly higher awareness on Double-digit growth in Water; Service revenue growth water and air quality Strong growth in
Slide 8: Executive Summary (2/2)
Executive Summary (2/2) Update on Macro Environment ▪ Recent West Asia crisis led to significant increase in input costs; increase in fuel prices to create further cost pressures ▪ Inflationary headwinds may impact consumer sentiment Update on Strategy ▪ Water Purifiers: 2 new product launches to dr
Slide 9: Q4 FY26 Financial Highlights (Standalone Results)
Q4 FY26 Financial Highlights (Standalone Results) Q4 FY26 Q4 FY25 YoY Revenue Rs. 683.8Cr Rs. 612.5Cr +11.6% Adj. EBITDA * Rs. 90.2Cr Rs. 79.7Cr +13.1% Adj. EBITDA Margin 13.2% 13.0% +17bps Adj. PBT ** Rs. 73.5Cr Rs. 68.0Cr +8.1% PAT Rs.51.1Cr Rs. 50.8Cr +0.7% *** * Adjusted (Adj.) EBITDA is defined
Slide 10: Q4 FY26 Standalone P&L Statement
Q4 FY26 Standalone P&L Statement Particulars (Rs. Cr) Q4 FY26 Q4 FY25 YoY (%) Q3 FY26 QoQ (%) Revenue 683.8 612.5 11.6% 645.4 5.9% Employee Benefit Expenses 87.9 79.0 11.3% 78.6 11.9% Service Charges 85.2 83.0 2.7% 80.5 5.9% Other Expenses 138.0 122.9 12.2% 160.2 -13.9% Total Expenses 311.1 284.9 9.
Slide 11: Revenue: Delivered Double-Digit Growth
Revenue: Delivered Double-Digit Growth Revenue Growth YoY 14.9% 10.8% 11.6% 9.9% 8.0% Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4FY26 ▪ Products business growth driven by growth in Water Purifier and Emerging Categories ▪ Water Purifiers delivered double-digit growth in Q4 FY26, while Emerging Categories del
Slide 12: EBITDA Margin: Expanded 17 Bps YoY To 13.2%
EBITDA Margin: Expanded 17 Bps YoY To 13.2% Adj. EBITDA Margin 162bps 17 bps 183bps 46 bps 57 bps 13.1% 13.2% 13.0% 11.0% 11.3% Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 ▪ EBITDA margin expanded 17 bps YoY to 13.2% in Q4FY26, led by operating leverage Adjusted (Adj.) EBITDA is defined as PBT (before e
Slide 13: Net Surplus: Touches All Time High At Rs. 443 Cr
Net Surplus: Touches All Time High At Rs. 443 Cr Net Surplus (Rs. Cr) 443 300 284 254 228 Q4 FY25 Q1 FY26 Q2FY26 Q3 FY26 Q4 FY26 Net Surplus 259 227 199 271 414 (Post lease liability) 10
Slide 14: Agenda
➢ Q4FY26 Highlights ➢ Strategy Update ➢ FY26 Highlights ➢ Overview ➢ Eureka Forbes ➢ Industry 11
Slide 15: Our Ambition: >2x Revenue And >3x EBITDA In 5 Years
Our Ambition: >2x Revenue And >3x EBITDA In 5 Years (FY25-FY30) FY25 FY26 FY30 Ambition Revenue (Rs. Cr) 2,436 2,710 5,400-5,600 Adj. EBITDA (Rs. Cr)* 285 332 800-850 Adj. EBITDA Margin 11.7% 12.2% ~15.0% * Adjusted (Adj.) EBITDA is defined as PBT (before exceptional items) + Finance cost + Deprecia
Slide 16: EFL Transformation Strategy
EFL Transformation Strategy Re-Imagine EFL As A D2C Health and Hygiene Tech Leader Provide Every Indian Access to Safe & Healthy Water, Clean Earth & Pure Air Grow Expand Excel In Build D2C Water Portfolio Service Platform Penetration Convenient Cleaning Customer Experience Convenience Premiumizatio
Slide 17: Grow Water: Double-Digit Revenue Growth in Q4 FY26
Grow Water: Double-Digit Revenue Growth in Q4 FY26 Key Highlights New Launches in Q4 FY26 Growth led by both Volume and ASP Strong growth in Mid segment New products 2 launched Aquaguard Sure Hydra Aquaguard Aspire Halo 14
Slide 18: Expand Portfolio: Functional Innovation Led Growth In Robotics
Expand Portfolio: Functional Innovation Led Growth In Robotics Key Highlights Contribution to 2/3rd Vacuum Cleaner sales Growth in FY26 3x over FY24 Click on the image to view the video Stronger Cleaning Powerful 7,000 Pa hyper suction Increasing Share of Premium SKUs 15
Slide 19: Excel In Service: Strong Focus On Filter After-Market Opportunity
Excel In Service: Strong Focus On Filter After-Market Opportunity Key Highlights Influencer videos to raise filter awareness Influencer 1 Bn+ video views Continuous improvement in Service KPIs 16
Slide 20: Management Views
Management Views “We closed FY26 with a strong quarter and a solid full-year performance despite a challenging external Mr. Pratik Pota environment. Q4 revenue grew 11.6% YoY and we delivered our highest-ever quarterly adjusted EBITDA margin of 13.2%. Growth was led by double-digit growth in water p
Slide 21: Agenda
➢ Q4FY26 Highlights ➢ Strategy Update ➢ FY26 Highlights ➢ Overview ➢ Eureka Forbes ➢ Industry 18
Slide 22: FY26: Key Highlights
FY26: Key Highlights Two Consecutive Years Of Resilient Gross Margin Profile Accelerating Growth Robust Investments growth in a Double-Digit Revenue Growth Service business turnaround challenging environment Revenue growth at 11.3% led by Gross margins up 46 bps in FY26 to A&SP spends up by Rs. 100
Slide 23: FY26 Financial Highlights (Standalone Results)
FY26 Financial Highlights (Standalone Results) FY26 FY25 YoY Revenue Rs. 2,710.5Cr Rs. 2,436.1Cr +11.3% Adj. EBITDA * Rs. 331.9Cr Rs. 285.0Cr +16.4% Adj. EBITDA Margin 12.2% 11.7% +55bps Adj. PBT ** Rs. 278.2Cr Rs. 235.9Cr +18.0% PAT (Pre-Exceptional)*** Rs. 190.2Cr Rs. 159.5Cr +19.3% PAT Rs.160.2Cr
Slide 24: FY26: Sustained Double-Digit Growth with Margin Expansion
FY26: Sustained Double-Digit Growth with Margin Expansion Standalone Profit & Loss (Rs. Cr) FY26 FY25 YoY (%) Revenue 2,710.5 2,436.1 11.3% Employee Benefit Expenses 327.9 306.4 7.0% Service Charges 331.8 298.4 11.2% Advertisement & Sales Promotion 293.7 259.5 13.2% Other Expenses 308.5 272.0 13.4%
Slide 25: Revenue: Double-Digit Revenue Growth For Two Years In A Row
Revenue: Double-Digit Revenue Growth For Two Years In A Row Revenue Growth YoY 11.3% 11.3% 5.2% 2.2% FY23 FY24 FY25 FY26 Revenue Growth From Continuing 2.2% 7.9% 12.0% 11.3% Business ▪ Multiple growth drivers; Several categories with a long runway for growth: Water Purifiers, Robotics, Softeners & A
Slide 26: Adj. EBITDA Margin: Three Consecutive Years Of Margin Expansion
Adj. EBITDA Margin: Three Consecutive Years Of Margin Expansion Adj. EBITDA Margin* 12.2% 11.7% 10.3% 6.3% FY23 FY24 FY25 FY26 ▪ Adj. EBITDA margin has expanded by 591 bps, while A&SP spends have grown at 15.6% CAGR (+171 bps), from FY23 to FY26 ▪ Adj. EBITDA grew by 16.4% and Adj. EBITDA Margin exp
Slide 27: Gross Margin: Resilient Margin Profile
Gross Margin: Resilient Margin Profile Gross Margin 59.4% 58.8% 58.3% 58.8% FY23 FY24 FY25 FY26 ▪ Gross margins remain range-bound at 58 to ~60%, led by a well-institutionalized COGS program ▪ Structural advantages in the form of a healthy product and service mix and portfolios straddling various pr
Slide 28: Growth Investments: A&SP Spends Rose By ~Rs.100 Cr Over 3 Years
Growth Investments: A&SP Spends Rose By ~Rs.100 Cr Over 3 Years A&SP Spends 294 300 12.0% 275 260 11.5% 250 225 207 11.0% 200 190 10.8% 10.5% 175 10.7% 150 10.0% 125 9.5% 100 75 9.4% 9.0% 50 9.1% 8.5% 25 - 8.0% FY23 FY24 FY25 FY26 A&SP Spends (Rs. Cr) A&SP Spends (Rs. Cr) A&SP as % of revenue ▪ Acce
Slide 29: Operating Leverage Gains Drive Sustained Margin Improvement
Operating Leverage Gains Drive Sustained Margin Improvement Improving Operating Leverage Opex (Excl. A&SP Spends) Particulars Change FY26 FY25 (Rs. Cr) (YoY) as % of Revenue Employee expenses* 327.9 306.4 7.0% -818 bps % of revenue 12.1% 12.6% 43.9% Service charges 331.8 298.4 11.2% 39.1% % of reven
Slide 30: Capex: Accelerating Investments For Structural Long-Term Growth
Capex: Accelerating Investments For Structural Long-Term Growth Capex 100 5.0% 84 4.0% 75 55 3.0% 3.1% 50 2.3% 2.0% 26 25 1.0% 11 1.2% 0.5% - 0.0% FY23 FY24 FY25 FY26 Capex (Rs. Cr) Capex (Rs. Cr) Capex as % of Revenue 27
Slide 31: Net Surplus: Strengthening Balance Sheet
Net Surplus: Strengthening Balance Sheet Net Surplus / (Debt) (Rs. Cr) 443 284 122 -32 FY23 FY24 FY25 FY26 Net Surplus / (Debt) -50 108 259 414 (Post lease liability) ▪ Credit rating: ▪ CARE AA; Stable ▪ CRISIL AA-; Positive ▪ Four rating upgrades in 3 years 28
Slide 32: Robust Cash Generation & High ROCE: Strong Fundamentals
Robust Cash Generation & High ROCE: Strong Fundamentals Key ratios Structural Advantages Particulars (in Rs. Cr) FY26 FY25 ▪ Consistent cash generation ahead of profits Free Cash Flows (FCF) 237 214 ▪ Negative working capital business Profit After Tax 160 163 ▪ Low capex business Free Cash Flow / Pr
Slide 33: Agenda
➢ Q4FY26 Highlights ➢ Strategy Update ➢ FY26 Highlights ➢ Overview ➢ Eureka Forbes ➢ Industry 30
Slide 34: Eureka Forbes: Overview
Eureka Forbes: Overview Electrolux & Shapoorji Pallonji Advent Tata Group Group International Professionally managed company governed by an 1982 2002 2022 Independent Board Joint Venture Subsidiary of a Publicly listed Public Company Company Shareholding 62.56 % Advent International 31
Slide 35: Pioneers & Leaders
Pioneers & Leaders Vacuum Cleaners Water Purifiers Direct Selling 32
Slide 36: Diversified Portfolio
Diversified Portfolio Market leaders in Water Purifiers and Vacuum Cleaners Wide range of products with state- of-the-art technology Product portfolio catering to both B2C and B2B customers Diversified revenue streams across product and service 33
Slide 37: One of the strongest consumer brands in India
: One of the strongest consumer brands in India Universal Brand Awareness and Consideration 40+ Years of Unconditional Trust and Acceptance 34
Slide 38: Omni Channel Presence
Omni Channel Presence • Direct Sales • General Trade • Modern Retail • Ecommerce • D2C • B2B • Canteen Stores (CSD) 35
Slide 39: Extensive Service network and strong customer connect
Extensive Service network and strong customer connect 19,500 >14 36
Slide 40: EFL Management Team
EFL Management Team Pratik Pota Gaurav Khandelwal Anurag Kumar Mahnaz Shaikh Managing Director & CEO Chief Financial Officer Chief Growth Officer Chief Human Resources Officer 22+ years @ 33+ years @ 25+ years @ 27+ years @ Udaan, Godrej Jubliant FoodWorks, HUL, Airtel, Unilever, Tata Play, ICI Cons
Slide 41: Agenda
➢ Q4FY26 Highlights ➢ Strategy Update ➢ FY26 Highlights ➢ Overview ➢ Eureka Forbes ➢ Industry 38
Slide 42: Macro Factors Supportive Of Growth
Macro Factors Supportive Of Growth Growing incomes Urbanization Working Women Piped Water middle class fastest By 2036, 40% of Female labour force went up from 16.8% growing segment of Indians will live in participation rate in 2019 to 77.2% the population; towns and cities, up increased from 33% Ho
Slide 43: Under Penetrated Categories With Long Runway For Growth
Under Penetrated Categories With Long Runway For Growth FY23 FY30E Category CAGR Penetration (Rs. Cr) (Rs. Cr) Water Purifier – Product 4,350 10,200 13% 7% Water Purifier – Service 3,660 9,000 14% <25% Water Softeners 1,000 3,000 17% <1% Vacuum Cleaners 509 3,000 29% 2% Air Purifiers 230 1,100 25% 1
Slide 44: Thank You
THANK YOU
Slide 45: Contact Us
Contact Us Corporate Identification No: L27310MH2008PLC188478 Regd. & Corporate Office: B1/B2, 7th Floor, 701, Marathon Innova, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013 Website: https://www.eurekaforbes.com/ Nupur Agarwal, Head – Investor Relations Investor.Relations@eurekaforbes.com EFL B