Eureka Forbes Limited, a prominent Indian multinational home appliances company headquartered in Mumbai, was established in 1982 as a joint venture between the Tata Group’s Forbes & Company and Sweden’s Electrolux. Now part of the Shapoorji Pallonji Group and Advent International, the company is renowned for its innovative products aimed at enhancing everyday living. Its offerings include the iconic Aquaguard and Dr. Aquaguard water purifiers, Forbes vacuum cleaners, air purifiers addressing indoor air quality, and advanced home security systems. Serving over 20 million customers across more than 1,500 cities and towns in India, Eureka Forbes stands as a leader in the home appliances market. Committed to innovation, customer satisfaction, and sustainability, the company actively engages in community welfare and environmental conservation initiatives.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 72.56% | 72.56% | 62.56% | 62.56% | 62.56% |
| FIIs + | 10.61% | 10.76% | 16.01% | 13.21% | 12.62% |
| DIIs + | 3.45% | 4.00% | 5.64% | 6.30% | 6.67% |
| Government + | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
| Public + | 12.53% | 11.83% | 14.93% | 17.08% | 17.29% |
| No. of Shareholders | 15,838 | 21,843 | 26,751 | 28,115 | 31,628 |
Eureka Forbes has demonstrated notable changes in its shareholding patterns from September 2023 to September 2024. The promoters maintained a steady 72.56% stake through December 2023, which decreased to 62.56% from March 2024 onwards. Foreign Institutional Investors (FIIs) increased their stake to 16.01% in March 2024 but later reduced it to 12.62% by September 2024. Domestic Institutional Investors (DIIs) consistently raised their holdings from 3.45% in September 2023 to 6.67% by September 2024, reflecting growing institutional interest. The government maintained a stable 0.86% stake throughout the period, while public shareholding increased from 12.53% in September 2023 to 17.29% by September 2024, accompanied by a rise in the number of shareholders from 15,838 to 31,628. These shifts highlight evolving investor confidence and participation in Eureka Forbes.
Below are the trading platforms that you can use to purchase Eureka Forbes shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| December 2024 | 664.55 | 577.87 |
By December 2024, the maximum price of Eureka Forbes is expected to reach ₹664.55, while the minimum price is anticipated to be ₹577.87.
| When | Maximum Price | Minimum Price |
| January 2025 | 671.20 | 516.31 |
| February 2025 | 677.98 | 521.52 |
| March 2025 | 692.22 | 532.47 |
| April 2025 | 685.36 | 527.20 |
| May 2025 | 665.40 | 511.85 |
| June 2025 | 695.34 | 534.88 |
| July 2025 | 681.71 | 524.39 |
| August 2025 | 702.79 | 540.61 |
| September 2025 | 711.23 | 547.10 |
| October 2025 | 729.72 | 561.32 |
| November 2025 | 747.96 | 575.36 |
| December 2025 | 781.62 | 601.25 |
As we move through 2025, Eureka Forbes is expected to show consistent growth in its prices. Starting with a maximum of ₹671.20 and a minimum of ₹516.31 in January, the values are projected to gradually rise to ₹692.22 and ₹532.47 by March. Mid-year, prices may stabilize around ₹695.34 and ₹534.88 in June, before climbing to ₹711.23 and ₹547.10 in September. Towards the year-end, a notable increase is anticipated, with October reaching ₹729.72 and ₹561.32, November at ₹747.96 and ₹575.36, and peaking in December with a maximum of ₹781.62 and a minimum of ₹601.25, marking a strong performance for Eureka Forbes.
| When | Maximum Price | Minimum Price |
| January 2026 | 805.07 | 619.28 |
| February 2026 | 784.94 | 603.80 |
| March 2026 | 800.64 | 615.88 |
| April 2026 | 816.98 | 628.45 |
| May 2026 | 808.89 | 622.22 |
| June 2026 | 829.11 | 637.78 |
| July 2026 | 812.86 | 625.27 |
| August 2026 | 838.00 | 644.61 |
| September 2026 | 854.76 | 657.51 |
| October 2026 | 876.98 | 674.60 |
| November 2026 | 898.91 | 691.47 |
| December 2026 | 921.38 | 708.75 |
| When | Maximum Price | Minimum Price |
| January 2027 | 930.59 | 715.84 |
| February 2027 | 954.45 | 734.19 |
| March 2027 | 991.68 | 762.83 |
| April 2027 | 972.23 | 747.87 |
| May 2027 | 943.91 | 726.09 |
| June 2027 | 986.39 | 758.76 |
| July 2027 | 967.05 | 743.88 |
| August 2027 | 996.96 | 766.89 |
| September 2027 | 1,031.85 | 793.73 |
| October 2027 | 1,058.68 | 814.37 |
| November 2027 | 1,085.15 | 834.73 |
| December 2027 | 1,112.28 | 855.60 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,134.52 | 872.71 |
| February 2028 | 1,163.61 | 895.09 |
| March 2028 | 1,208.99 | 929.99 |
| April 2028 | 1,185.29 | 911.76 |
| May 2028 | 1,150.76 | 885.20 |
| June 2028 | 1,202.55 | 925.04 |
| July 2028 | 1,178.97 | 906.90 |
| August 2028 | 1,215.43 | 934.95 |
| September 2028 | 1,257.97 | 967.67 |
| October 2028 | 1,290.68 | 992.83 |
| November 2028 | 1,322.95 | 1,017.65 |
| December 2028 | 1,356.02 | 1,043.09 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,383.14 | 1,063.95 |
| February 2029 | 1,418.61 | 1,091.23 |
| March 2029 | 1,473.93 | 1,133.79 |
| April 2029 | 1,445.03 | 1,111.56 |
| May 2029 | 1,402.94 | 1,079.19 |
| June 2029 | 1,466.07 | 1,127.75 |
| July 2029 | 1,437.33 | 1,105.64 |
| August 2029 | 1,481.78 | 1,139.83 |
| September 2029 | 1,533.64 | 1,179.73 |
| October 2029 | 1,573.52 | 1,210.40 |
| November 2029 | 1,612.86 | 1,240.66 |
| December 2029 | 1,653.18 | 1,271.68 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,686.24 | 1,297.11 |
| February 2030 | 1,729.48 | 1,330.37 |
| March 2030 | 1,796.93 | 1,382.25 |
| April 2030 | 1,761.69 | 1,355.15 |
| May 2030 | 1,710.38 | 1,315.68 |
| June 2030 | 1,787.35 | 1,374.88 |
| July 2030 | 1,752.30 | 1,347.93 |
| August 2030 | 1,806.50 | 1,389.61 |
| September 2030 | 1,869.73 | 1,438.25 |
| October 2030 | 1,918.34 | 1,475.65 |
| November 2030 | 1,966.30 | 1,512.54 |
| December 2030 | 2,015.46 | 1,550.35 |
As we progress through 2030, Eureka Forbes is expected to witness steady price growth. Starting in January, the maximum price is projected to be ₹1,686.24, with a minimum of ₹1,297.11, gradually increasing in February to ₹1,729.48 and ₹1,330.37. By March, the prices may rise further, reaching ₹1,796.93 and ₹1,382.25. Mid-year, in June, prices are anticipated to touch ₹1,787.35 at maximum and ₹1,374.88 at minimum. Moving into the latter half, September is expected to see values of ₹1,869.73 and ₹1,438.25, leading to a peak in December with the maximum projected at ₹2,015.46 and the minimum at ₹1,550.35.
Financial Condition of Eureka Forbes
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 16 | 8 | 381 | 2,080 | 2,189 | 2,317 |
| Expenses + | 16 | 9 | 363 | 1,949 | 1,997 | 2,096 |
| Operating Profit | 0 | -1 | 18 | 132 | 192 | 221 |
| OPM % | 0% | -17% | 5% | 6% | 9% | 10% |
| Other Income + | 0 | 0 | 2 | -30 | -7 | -2 |
| Interest | 0 | 0 | 4 | 20 | 10 | 7 |
| Depreciation | 0 | 0 | 9 | 55 | 53 | 55 |
| Profit before tax | -1 | -2 | 7 | 27 | 122 | 158 |
| Tax % | 56% | 1% | 59% | 37% | 25% | |
| Net Profit + | -1 | -2 | 3 | 17 | 92 | 122 |
| EPS in Rs | -1.84 | -3.38 | 0.14 | 0.88 | 4.73 | 6.3 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Eureka Forbes has demonstrated remarkable financial growth and resilience over the past few years, transitioning from a challenging phase to robust performance. In March 2020, the company recorded modest sales of ₹16 crore, accompanied by operating losses and a negative operating profit margin (OPM) of 0%. By the trailing twelve months (TTM), sales had surged to ₹2,317 crore, representing a dramatic turnaround and highlighting the company’s successful expansion and increased market penetration. Expenses grew in tandem with revenue, reaching ₹2,096 crore in the TTM, reflecting the operational scale required to support this growth. The steady increase in operating profit, from a loss in 2020 to ₹221 crore in the TTM, was accompanied by an improvement in OPM from 0% to 10%, signifying enhanced efficiency and profitability.
The company’s profitability metrics also underscore its impressive recovery. Net profit rose from a loss of ₹1 crore in 2020 to ₹122 crore in the TTM, marking a significant turnaround in financial health. This improvement is reflected in the earnings per share (EPS), which increased from a negative ₹1.84 in 2020 to ₹6.3 in the TTM, showcasing Eureka Forbes’ ability to deliver value to its shareholders. Despite challenges in other income and a consistent increase in depreciation and interest costs, the company has managed to strengthen its bottom line. Tax efficiency also improved, with the effective tax rate reducing from 56% in 2020 to 25% in the TTM, further supporting profitability.
While Eureka Forbes has not yet declared any dividends, maintaining a 0% dividend payout across the years, this strategy likely reflects a focus on reinvestment to fuel growth and innovation. The financial trajectory of the company illustrates its resilience and ability to adapt to changing market conditions, emphasizing its commitment to long-term growth and operational excellence. This financial performance aligns with Eureka Forbes’ robust market presence and continuous efforts to expand its product offerings and customer base.
FAQS
As of November 29th, 2024, Eureka Forbes share price is at ₹607.
Based on our various analyst reports and market trends, Eureka Forbes share price target for 2030 is expected to trade in a range from ₹ 1,297.11 to ₹ 2,015.46 in 2030.
Eureka Forbes share price target for 2025 suggests it could be trading between ₹511.85 to ₹781.62.
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Conclusion
In conclusion, Eureka Forbes Limited has demonstrated a remarkable transformation, evolving from financial challenges in 2020 to strong growth and profitability in recent years. Its diversified product portfolio, market leadership, and focus on innovation have driven significant revenue increases, with sales surging to ₹2,317 crore in the TTM. Improved operational efficiency is evident in the operating profit margin rising to 10%, and net profit reaching ₹122 crore, translating to an EPS of ₹6.3. Despite increased expenses and interest costs, the company has effectively strengthened its bottom line while maintaining a stable shareholding pattern that reflects growing public and institutional interest. Looking ahead, the consistent upward trajectory in share price predictions through 2030 underscores investor confidence in Eureka Forbes’ long-term potential.
What did we learn?
- 1 Shareholdings Patterns of Eureka Forbes
- 2 How to purchase Eureka Forbes shares?
- 3 Eureka Forbes Share Price Prediction: 2024 to 2030
- 3.1 Eureka Forbes Share Price Prediction 2024
- 3.2 Eureka Forbes Share Price Prediction 2025
- 3.3 Eureka Forbes Share Price Prediction 2026
- 3.4 Eureka Forbes Share Price Target 2027
- 3.5 Eureka Forbes Share Price Prediction 2028
- 3.6 Eureka Forbes Share Price Prediction 2029
- 3.7 Eureka Forbes Share Price Target 2030
- 4 Financial Condition of Eureka Forbes
- 5 FAQS
- 6 Conclusion
