Eureka Forbes Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:00 am

Market Cap	11,066 Cr.
Current Price	572
High / Low	648/397
Stock P/E	84.9
Book Value	222
Dividend Yield	0.00 %
ROCE	3.46 %
ROE	2.45 %
Face Value	10.0
PEG Ratio	1.49

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Hawkins Cookers Ltd	4,736 Cr.	8,952	9,100/5,810	41.9	622	1.34 %	44.5 %	36.0 %	10.0
Harsha Engineers International Ltd	4,560 Cr.	501	614/360	32.8	143	0.20 %	13.4 %	10.6 %	10.0
Gorani Industries Ltd	56.8 Cr.	106	160/86.8	77.8	23.5	0.00 %	12.2 %	11.5 %	10.0
Eureka Forbes Ltd	11,066 Cr.	572	648/397	84.9	222	0.00 %	3.46 %	2.45 %	10.0
V-Guard Industries Ltd	18,094 Cr.	416	577/283	69.6	42.7	0.34 %	16.1 %	13.8 %	1.00
Industry Average	10,646.82 Cr	1,734.58		74.88	189.85	0.37%	14.18%	11.15%	6.42

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	1	3	3	373	525	575	472	508	505	592	539	553	553
Expenses	1	3	5	354	482	575	431	461	459	541	496	500	498
Operating Profit	-0	0	-2	20	43	0	41	47	46	51	42	53	55
OPM %	-12%	2%	-49%	5%	8%	0%	9%	9%	9%	9%	8%	10%	10%
Other Income	0	-0	0	2	1	-15	-10	-5	2	2	3	-13	2
Interest	0	0	0	4	6	6	4	3	3	3	2	2	2
Depreciation	0	0	0	9	13	16	13	13	13	13	13	14	14
Profit before tax	-0	0	-2	9	24	-36	13	26	31	37	30	24	42
Tax %	0%		6%	45%	27%	-26%	25%	37%	29%	31%	25%	12%	25%
Net Profit	-0	-0	-2	5	18	-27	10	16	22	25	23	21	31
EPS in Rs	-0.39	-0.02	-3.77	0.25	0.92	-1.39	0.51	0.84	1.14	1.32	1.17	1.11	1.61

Last Updated: October 7, 2024, 8:06 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

Month	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	0	0	28	33	27	26	16	8	381	2,080	2,189	2,237
Expenses	0	0	28	32	27	26	16	9	363	1,949	1,997	2,036
Operating Profit	0	0	1	2	-1	-0	-0	-1	18	132	192	201
OPM %			2%	5%	-3%	-1%	-0%	-17%	5%	6%	9%	9%
Other Income	0	0	0	-0	0	0	0	0	2	-30	-7	-6
Interest	0	0	0	1	0	0	0	0	4	20	10	8
Depreciation	0	0	0	0	0	0	0	0	9	55	53	54
Profit before tax	0	0	0	1	-1	-1	-1	-2	7	27	122	133
Tax %			-8%	8%	9%	-9%	56%	1%	59%	37%	25%
Net Profit	0	0	0	1	-1	-1	-1	-2	3	17	92	101
EPS in Rs	0.00	0.00	0.50	2.62	-4.70	-2.48	-1.84	-3.38	0.14	0.88	4.73	5.21
Dividend Payout %			0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-200.00%	0.00%	0.00%	-100.00%	250.00%	466.67%	441.18%
Change in YoY Net Profit Growth (%)	0.00%	200.00%	0.00%	-100.00%	350.00%	216.67%	-25.49%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2017-2018 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	%
5 Years:	143%
3 Years:	553%
TTM:	12%

Compounded Profit Growth
10 Years:	%
5 Years:	171%
3 Years:	300%
TTM:	50%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	9%

Return on Equity
10 Years:	%
5 Years:	1%
3 Years:	1%
Last Year:	2%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 4:31 pm

Month	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	0.05	0.05	3	3	3	3	5	5	193	193	193	193
Reserves	-0	-0	-1	-0	-2	-2	-3	-5	3,874	3,886	4,010	4,100
Borrowings	0	0	4	4	4	4	2	2	253	139	39	79
Other Liabilities	0	0	12	12	9	9	7	5	1,815	1,810	1,878	1,986
Total Liabilities	0	0	18	18	14	14	10	7	6,135	6,029	6,120	6,359
Fixed Assets	0	0	1	0	0	0	0	0	5,498	5,475	5,457	5,469
CWIP	0	0	0	0	0	0	0	0	0	2	1	0
Investments	0	0	0	0	0	0	0	0	87	101	80	82
Other Assets	0	0	17	18	14	14	10	7	550	451	582	808
Total Assets	0	0	18	18	14	14	10	7	6,135	6,029	6,120	6,359

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	1	0	37	171	195
Cash from Investing Activity +	0	0	7	-22	-35
Cash from Financing Activity +	-1	-0	-31	-150	-117
Net Cash Flow	-1	-0	13	-1	43

Free Cash Flow

Month	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	0.00	0.00	-3.00	-2.00	-5.00	-4.00	-2.00	-3.00	-235.00	-7.00	153.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days		156	141	107	110	63	110	147	22	23
Inventory Days		34	21	37	33	90	109	638	91	99
Days Payable		164	153	137	143	159	256	549	99	89
Cash Conversion Cycle		26	10	7	1	-7	-37	235	14	33
Working Capital Days		37	34	31	15	1	-35	-357	-84	-82
ROCE %	0%		24%	-12%	-5%	-4%	-58%	0%	2%	3%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	73.85%	73.33%	73.23%	73.23%	72.56%	72.56%	72.56%	72.56%	62.56%	62.56%	62.56%
FIIs	11.53%	11.50%	11.55%	11.54%	10.94%	10.76%	10.61%	10.76%	16.01%	13.21%	12.62%
DIIs	0.68%	0.79%	1.22%	1.48%	1.87%	2.73%	3.45%	4.00%	5.64%	6.30%	6.67%
Government	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%	0.86%
Public	13.08%	13.52%	13.15%	12.90%	13.79%	13.10%	12.53%	11.83%	14.93%	17.08%	17.29%
No. of Shareholders	13,345	13,727	14,761	14,369	14,118	14,836	15,838	21,843	26,751	28,115	31,628

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Tata Small Cap Fund	1,121,339	0.69	54.08	257,002	2024-12-20	336.32%
DSP Tiger Fund	842,641	0.83	40.64	257,002	2024-12-20	227.87%
Bandhan Small Cap Fund	693,139	0.57	33.43	257,002	2024-12-20	169.7%
PGIM India Small Cap Fund	527,250	1.69	25.43	257,002	2024-12-20	105.15%
Union Flexi Cap Fund	382,396	0.84	18.44	257,002	2024-12-20	48.79%
Union Small Cap Fund	372,980	1.17	17.99	257,002	2024-12-20	45.13%
Axis Innovation Fund	277,234	1.05	13.37	257,002	2024-12-20	7.87%
Sundaram Consumption Fund	257,002	0.83	12.39	257,002	2024-12-20	0%
DSP Equity Savings Fund	157,244	0.56	7.58	257,002	2024-12-20	-38.82%
Union ELSS Tax Saver Fund	157,200	0.81	7.58	257,002	2024-12-20	-38.83%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	4.94	1.37	0.72	-3.38
Diluted EPS (Rs.)	4.93	1.37	0.72	-3.38
Cash EPS (Rs.)	7.74	4.29	0.60	-3.08
Book Value[Excl.RevalReserv]/Share (Rs.)	218.47	211.85	210.74	0.28
Book Value[Incl.RevalReserv]/Share (Rs.)	218.47	211.85	210.74	0.28
Revenue From Operations / Share (Rs.)	113.15	107.74	19.73	16.25
PBDIT / Share (Rs.)	10.72	8.02	1.07	-2.65
PBIT / Share (Rs.)	7.93	5.11	0.59	-2.95
PBT / Share (Rs.)	6.64	1.99	0.36	-3.36
Net Profit / Share (Rs.)	4.94	1.37	0.13	-3.38
NP After MI And SOA / Share (Rs.)	4.94	1.37	0.13	-3.38
PBDIT Margin (%)	9.47	7.44	5.41	-16.34
PBIT Margin (%)	7.00	4.73	3.00	-18.14
PBT Margin (%)	5.86	1.84	1.84	-20.67
Net Profit Margin (%)	4.36	1.26	0.68	-20.77
NP After MI And SOA Margin (%)	4.36	1.27	0.68	-20.77
Return on Networth / Equity (%)	2.26	0.64	0.06	-1175.41
Return on Capital Employeed (%)	2.96	1.94	0.22	-886.48
Return On Assets (%)	1.56	0.44	0.04	-22.82
Long Term Debt / Equity (X)	0.00	0.01	0.01	0.00
Total Debt / Equity (X)	0.01	0.02	0.05	10.81
Asset Turnover Ratio (%)	0.36	0.34	0.12	0.00
Current Ratio (X)	0.63	0.52	0.54	0.75
Quick Ratio (X)	0.37	0.28	0.26	0.46
Inventory Turnover Ratio (X)	3.47	2.57	0.73	0.00
Interest Coverage Ratio (X)	21.22	7.66	4.67	-6.45
Interest Coverage Ratio (Post Tax) (X)	12.34	4.28	1.59	-7.20
Enterprise Value (Cr.)	8769.60	8356.88	7796.16	0.00
EV / Net Operating Revenue (X)	4.01	4.01	20.42	0.00
EV / EBITDA (X)	42.28	53.83	377.28	0.00
MarketCap / Net Operating Revenue (X)	4.04	3.96	19.83	0.00
Price / BV (X)	2.09	2.01	1.86	0.00
Price / Net Operating Revenue (X)	4.04	3.96	19.83	0.00
EarningsYield	0.01	0.00	0.00	0.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 471.01

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Overvalued by 17.66% compared to the current share price 572.00

Intrinsic Value of as of December 22, 2024 is: 740.28

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 29.42% compared to the current share price 572.00

Last 5 Year EPS CAGR: 57.17%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -40.00, which is a positive sign. The company has higher reserves (1,321.42 cr) compared to borrowings (44.17 cr), indicating strong financial stability. The company has shown consistent growth in sales (43.75 cr) and profit (23.75 cr) over the years.	The stock has a low average ROCE of -4.55%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 25.64, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 4.36%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 2.96% (Industry Average ROCE: 14.18%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 2.26% (Industry Average ROE: 11.15%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 12.34
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.37
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 84.9 (Industry average Stock P/E: 74.88)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.01
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Eureka Forbes Ltd. is a Public Limited Listed company incorporated on 26/11/2008 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L27310MH2008PLC188478 and registration number is 188478. Currently Company is involved in the business activities of Manufacture of domestic electric appliances such as refrigerators, washing machines, vacuum cleaners, mixers, grinders etc.. Company’s Total Operating Revenue is Rs. 381.00 Cr. and Equity Capital is Rs. 193.48 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Domestic Appliances	B1/B2, 7th Floor, 701, Marathon Innova, Mumbai Maharashtra 400013	compliance@eurekaforbes.com http://www.eurekaforbes.com

Management
Name	Position Held
Mr. Arvind Uppal	Chairman, Non Ind & Non Exe Director
Mr. Pratik Rashmikant Pota	Managing Director & CEO
Mr. Sahil Dilip Dalal	Non Exe.Non Ind.Director
Mrs. Gurveen Singh	Independent Director
Mr. Vinod Rao	Independent Director
Mr. Homi Adi Katgara	Independent Director
Mr. Shashank Shankar Samant	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹471.01, which is 17.66% lower than the current market price of ₹572.00. The stock has a market capitalization of 11,066 Cr. and recorded a high/low of 648/397 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹4,100 Cr and total liabilities of ₹6,359 Cr.

What is the Market Cap of ?

The Market Cap of is 11,066 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 572.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 648/397.

What is the Stock P/E of ?

The Stock P/E of is 84.9.

What is the Book Value of ?

The Book Value of is 222.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 3.46 %.

What is the ROE of ?

The ROE of is 2.45 %.

What is the Face Value of ?

The Face Value of is 10.0.