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Last Updated: April 2, 2026, 4:34 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543482 | NSE: EUREKAFORBE

Eureka Forbes Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹317.85Overvalued by 30.90%vs CMP ₹460.00

P/E (45.5) × ROE (3.7%) × BV (₹232.00) × DY (2.00%)

₹296.86Overvalued by 35.47%vs CMP ₹460.00
MoS: -55% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹718.4325%Under (+56.2%)
Graham NumberEarnings₹207.6518%Over (-54.9%)
Earnings PowerEarnings₹34.6912%Over (-92.5%)
DCFCash Flow₹198.4812%Over (-56.9%)
Net Asset ValueAssets₹232.678%Over (-49.4%)
EV/EBITDAEnterprise₹161.4410%Over (-64.9%)
Earnings YieldEarnings₹82.608%Over (-82%)
Revenue MultipleRevenue₹126.096%Over (-72.6%)
Consensus (8 models)₹296.86100%Overvalued
Key Drivers: EPS CAGR 126.0% lifts DCF — verify sustainability. | ROE 3.7% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 126.0%

*Investments are subject to market risks

Investment Snapshot

53
Eureka Forbes Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health38/100 · Weak
ROCE 5.0% WeakROE 3.7% WeakD/E 10.81 High debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.34% (6mo) AccumulatingDII holding down 0.56% MF sellingPromoter holding at 62.6% Stable
Earnings Quality65/100 · Strong
OPM expanding (6% → 10%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +11% YoY GrowingProfit (4Q): +19% YoY Positive
Industry Rank40/100 · Moderate
P/E 45.5 vs industry 44.5 In-lineROCE 5.0% vs industry 357.7% Below peersROE 3.7% vs industry 11.9% Below peers3Y sales CAGR: 86% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:34 am

Market Cap 8,887 Cr.
Current Price 460
Intrinsic Value₹296.86
High / Low 668/355
Stock P/E45.5
Book Value 232
Dividend Yield0.00 %
ROCE5.04 %
ROE3.69 %
Face Value 10.0
PEG Ratio0.36

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

View Share Price Target for Eureka Forbes Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Eureka Forbes Ltd 8,887 Cr. 460 668/35545.5 2320.00 %5.04 %3.69 % 10.0
Cello World Ltd 8,769 Cr. 397 674/38327.8 1040.38 %23.7 %20.4 % 5.00
TTK Prestige Ltd 6,097 Cr. 445 773/42339.7 1391.35 %11.6 %7.42 % 1.00
Bajaj Electricals Ltd 3,988 Cr. 346 711/33085.9 1340.87 %12.2 %7.52 % 2.00
V-Guard Industries Ltd 13,790 Cr. 316 413/29054.0 47.50.48 %17.2 %13.6 % 1.00
Industry Average8,535.55 Cr1,270.2044.45210.900.53%357.66%11.88%6.57

All Competitor Stocks of Eureka Forbes Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 472.02508.14505.27592.31538.57553.07552.81672.87597.84612.54607.74773.45645.45
Expenses 430.86460.75459.46541.08496.40500.41498.09601.04539.14534.89546.49677.59578.01
Operating Profit 41.1647.3945.8151.2342.1752.6654.7271.8358.7077.6561.2595.8667.44
OPM % 8.72%9.33%9.07%8.65%7.83%9.52%9.90%10.68%9.82%12.68%10.08%12.39%10.45%
Other Income -10.30-5.151.821.722.89-13.052.176.244.396.387.145.87-35.32
Interest 4.403.493.392.911.791.631.671.671.191.101.002.252.74
Depreciation 13.3712.9213.1913.0113.1513.7713.6613.9914.9514.9815.7016.3217.02
Profit before tax 13.0925.8331.0537.0330.1224.2141.5662.4146.9567.9551.6983.1612.36
Tax % 25.13%36.93%28.89%31.22%24.80%11.73%25.31%25.22%25.84%25.31%25.48%25.94%27.18%
Net Profit 9.8016.2822.0925.4722.6421.3731.0446.6734.8250.7538.5261.599.00
EPS in Rs 0.510.841.141.321.171.111.612.411.802.621.993.180.47

Last Updated: March 3, 2026, 9:58 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:00 am

MetricMar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 00283327261683812,0802,1892,4362,639
Expenses 00283227261693631,9491,9972,1732,337
Operating Profit 0012-1-0-0-118132192263302
OPM % 2%5%-3%-1%-0%-17%5%6%9%11%11%
Other Income 000-000002-30-719-16
Interest 000100004201067
Depreciation 00000000955535864
Profit before tax 0001-1-1-1-2727122219215
Tax % -8%8%9%-9%56%1%59%37%25%25%
Net Profit 0001-1-1-1-231792163160
EPS in Rs 0.000.000.502.62-4.70-2.48-1.84-3.380.140.884.738.448.26
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-200.00%0.00%0.00%-100.00%250.00%466.67%441.18%77.17%
Change in YoY Net Profit Growth (%)0.00%200.00%0.00%-100.00%350.00%216.67%-25.49%-364.00%

Eureka Forbes Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2017-2018 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:172%
3 Years:86%
TTM:11%
Compounded Profit Growth
10 Years:%
5 Years:183%
3 Years:294%
TTM:50%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:7%
1 Year:20%
Return on Equity
10 Years:2%
5 Years:2%
3 Years:2%
Last Year:4%

Last Updated: September 5, 2025, 3:26 pm

Balance Sheet

Last Updated: December 10, 2025, 4:16 am

MonthMar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.050.05333355193193193193193
Reserves -0-0-1-0-2-2-3-53,8743,8864,0104,1914,302
Borrowings 00444422253139392691
Other Liabilities 00121299751,8151,8101,8781,8992,176
Total Liabilities 00181814141076,1356,0296,1206,3106,762
Fixed Assets 001000005,4985,4755,4575,4665,486
CWIP 0000000002124
Investments 0000000087101808486
Other Assets 00171814141075504515827581,185
Total Assets 00181814141076,1356,0296,1206,3106,762

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1037171195226
Cash from Investing Activity + 007-22-35-168
Cash from Financing Activity + -1-0-31-150-117-43
Net Cash Flow -1-013-14314
Free Cash Flow 1033160169170
CFO/OP -1,200%11%212%133%101%83%

Free Cash Flow

MonthMar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.000.00-3.00-2.00-5.00-4.00-2.00-3.00-235.00-7.00153.00237.00

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

MonthMar 2013Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 15614110711063110147222327
Inventory Days 3421373390109638919987
Days Payable 164153137143159256549998967
Cash Conversion Cycle 261071-7-37235143347
Working Capital Days 373431-48-33-105-546-103-87-71
ROCE %0%20%24%-12%-5%-4%-58%0%2%3%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 72.56%72.56%72.56%72.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%62.56%
FIIs 10.94%10.76%10.61%10.76%16.01%13.21%12.62%12.56%12.53%14.00%13.72%13.87%
DIIs 1.87%2.73%3.45%4.00%5.64%6.30%6.67%6.60%7.01%6.35%6.38%6.45%
Government 0.86%0.86%0.86%0.86%0.86%0.86%0.86%0.86%0.86%0.86%0.86%0.86%
Public 13.79%13.10%12.53%11.83%14.93%17.08%17.29%17.41%17.03%16.23%16.48%16.27%
No. of Shareholders 14,11814,83615,83821,84326,75128,11531,62832,45330,68329,63831,45934,159

Shareholding Pattern Chart

No. of Shareholders

Eureka Forbes Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Tata Small Cap Fund 1,121,339 0.5 53.351,121,3392025-04-22 17:25:120%
Aditya Birla Sun Life Consumption Fund 1,100,385 0.85 52.361,116,7852026-01-26 01:41:56-1.47%
ICICI Prudential Bharat Consumption Fund 907,474 1.4 43.18875,1082026-03-23 01:23:113.7%
Union Small Cap Fund 871,647 2.32 41.47372,9802025-11-02 05:15:23133.7%
Aditya Birla Sun Life MNC Fund 674,012 0.93 32.07625,3112026-03-12 01:04:477.79%
WhiteOak Capital Flexi Cap Fund 672,531 0.44 32559,6872025-12-15 02:14:1820.16%
Bandhan Small Cap Fund 587,927 0.14 27.97527,9272026-03-23 01:23:1111.37%
PGIM India Small Cap Fund 448,735 1.43 21.35527,2502025-11-02 05:15:23-14.89%
WhiteOak Capital Mid Cap Fund 329,894 0.33 15.7244,1892025-12-15 05:08:5335.1%
LIC MF ELSS Tax Saver Fund 285,361 1.3 13.58N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 8.464.941.370.72-3.38
Diluted EPS (Rs.) 8.464.931.370.72-3.38
Cash EPS (Rs.) 11.497.744.290.60-3.08
Book Value[Excl.RevalReserv]/Share (Rs.) 227.86218.47211.85210.740.28
Book Value[Incl.RevalReserv]/Share (Rs.) 227.86218.47211.85210.740.28
Revenue From Operations / Share (Rs.) 125.95113.15107.7419.7316.25
PBDIT / Share (Rs.) 14.4810.728.021.07-2.65
PBIT / Share (Rs.) 11.487.935.110.59-2.95
PBT / Share (Rs.) 11.416.641.990.36-3.36
Net Profit / Share (Rs.) 8.504.941.370.13-3.38
NP After MI And SOA / Share (Rs.) 8.504.941.370.13-3.38
PBDIT Margin (%) 11.499.477.445.41-16.34
PBIT Margin (%) 9.117.004.733.00-18.14
PBT Margin (%) 9.055.861.841.84-20.67
Net Profit Margin (%) 6.744.361.260.68-20.77
NP After MI And SOA Margin (%) 6.744.361.270.68-20.77
Return on Networth / Equity (%) 3.722.260.640.06-1175.41
Return on Capital Employeed (%) 4.122.961.940.22-886.48
Return On Assets (%) 2.591.560.440.04-22.82
Long Term Debt / Equity (X) 0.000.000.010.010.00
Total Debt / Equity (X) 0.000.010.020.0510.81
Asset Turnover Ratio (%) 0.390.360.340.120.00
Current Ratio (X) 0.830.630.520.540.75
Quick Ratio (X) 0.570.370.280.260.46
Inventory Turnover Ratio (X) 9.643.472.570.730.00
Interest Coverage Ratio (X) 49.7721.227.664.67-6.45
Interest Coverage Ratio (Post Tax) (X) 29.4712.344.281.59-7.20
Enterprise Value (Cr.) 10241.938769.608356.887796.160.00
EV / Net Operating Revenue (X) 4.204.014.0120.420.00
EV / EBITDA (X) 36.5642.2853.83377.280.00
MarketCap / Net Operating Revenue (X) 4.314.043.9619.830.00
Price / BV (X) 2.382.092.011.860.00
Price / Net Operating Revenue (X) 4.314.043.9619.830.00
EarningsYield 0.010.010.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 filtering and purifying machinery or apparatus for liquids and gases. Company's Total Operating Revenue is Rs. 2436.06 Cr. and Equity Capital is Rs. 193.48 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Domestic AppliancesB1/B2, 7th Floor, Mumbai Maharashtra 400013Contact not found
Management
NamePosition Held
Mr. Arvind UppalChairman, Non Ind & Non Exe Director
Mr. Pratik Rashmikant PotaManaging Director & CEO
Mr. Shashank Shankar SamantIndependent Director
Mr. Sahil Dilip DalalNon Exe.Non Ind.Director
Mrs. Gurveen SinghIndependent Director
Mr. Vinod RaoIndependent Director
Mr. Homi Adi KatgaraIndependent Director

FAQ

What is the intrinsic value of Eureka Forbes Ltd and is it undervalued?

As of 14 April 2026, Eureka Forbes Ltd's intrinsic value is ₹296.86, which is 35.47% lower than the current market price of ₹460.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (3.69 %), book value (₹232), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Eureka Forbes Ltd?

Eureka Forbes Ltd is trading at ₹460.00 as of 14 April 2026, with a FY2026-2027 high of ₹668 and low of ₹355. The stock is currently in the middle of its 52-week range. Market cap stands at ₹8,887 Cr..

How does Eureka Forbes Ltd's P/E ratio compare to its industry?

Eureka Forbes Ltd has a P/E ratio of 45.5, which is above the industry average of 44.45. The premium over industry average may reflect growth expectations or speculative interest.

Is Eureka Forbes Ltd financially healthy?

Key indicators for Eureka Forbes Ltd: ROCE of 5.04 % is on the lower side compared to the industry average of 357.66%; ROE of 3.69 % is below ideal levels (industry average: 11.88%). Dividend yield is 0.00 %.

Is Eureka Forbes Ltd profitable and how is the profit trend?

Eureka Forbes Ltd reported a net profit of ₹163 Cr in Mar 2025 on revenue of ₹2,436 Cr. Compared to ₹3 Cr in Mar 2022, the net profit shows an improving trend.

Does Eureka Forbes Ltd pay dividends?

Eureka Forbes Ltd has a dividend yield of 0.00 % at the current price of ₹460.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Eureka Forbes Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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