Eureka Forbes Limited, one of India’s largest health and hygiene companies, today announced the listing of its shares on the National Stock Exchange (NSE). The company’s scrip code has also undergone a change. The shares were previously listed only on the Bombay Stock Exchange (BSE) under the scrip code EUREKAFORBE. With the listing on NSE, the scrip code is now EUREKAFORB on both the stock exchanges.
Eureka Forbes Limited has undertaken a transformation journey, “Udaan”, and has made significant progress over the last 2 years. It has reported sustained volume growth for 4 successive quarters, EBITDA margins improved by 401bps to 10.3% in FY24 and the Company has now become a cash surplus.
Speaking on the occasion, the Company’s spokesperson said “Listing on the NSE is an important event in our endeavors to be accessible to more shareholders and investors. Our transformation initiative Udaan has seen progress on multiple fronts and our focus will remain on driving the transformation initiatives to create long term value.”
In Q3 FY24 results, the company’s revenue grew by 13.92%, and its profit surged by 233.86% compared to the same period last year. However, when compared to the previous quarter, revenue dropped by 8.79%, and profit fell by 11.06%. Selling, general, and administrative expenses decreased by 8.62% from the last quarter but increased by 11.08% year-over-year. Operating income was down by 24.53% quarter-over-quarter but up by 194.34% compared to the same period last year. Earnings per share (EPS) for Q3 FY24 stood at ₹1.18, marking a 36.14% increase year-over-year.
Eureka Forbes Limited is a top health and hygiene brand in India with more than 40 years of experience. It has grown into a multi-product company that sells through various channels, including direct sales, retail, e-commerce, and institutional sales. The company’s products include water purifiers, vacuum cleaners, and air purifiers. Eureka Forbes also has a wide network of business partners and one of the largest service networks in India.
On September 11, 2024, the share price of Eureka Forbes Limited opened at ₹498.85, touching the day’s high at ₹509.90, as of 01:11 PM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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