Eureka Forbes aims to double its revenue to ₹5,400-5,600 crore and triple its EBITDA to ₹800-850 crore by 2030. Backed by Advent International, the company expects growth to accelerate from FY27 through product innovation and deeper market penetration in under-served categories like water purifiers and softeners.
Detailed Coverage
Eureka Forbes Ltd., known for its water purification and home hygiene products, has unveiled a long-term growth plan targeting a significant increase in its financial scale by 2030. The company, which has been under the ownership of private equity firm Advent International since 2022, is looking to scale its annual revenue to between ₹5,400 crore and ₹5,600 crore from its FY25 base. Additionally, the company is aiming for a three-fold increase in its EBITDA, or operating profit, reaching a target range of ₹800-850 crore.
Strategic Shift Under Private Equity Ownership
Since the exit of the Shapoorji Pallonji Group, Eureka Forbes has been undergoing a transformation focused on profitability and operational efficiency. In the fiscal year 2026, the company recorded a revenue of ₹2,710 crore, continuing a streak of double-digit percentage growth for two consecutive years. Management pointed to a consistent improvement in EBITDA margins over the past three years as evidence that their internal cost-control and productivity initiatives are delivering results.
Market Opportunities in Under-penetrated Categories
Eureka Forbes is positioning itself to capture a larger share of the Indian health and hygiene market, which is estimated to reach a size of over ₹26,300 crore by FY30. Despite the brand's long-standing presence in India, the company highlighted that household adoption remains relatively low. For instance, water purifiers are present in only about 7 percent of Indian households, while water softeners are used in less than 1 percent. The company intends to leverage its established brand equity and extensive service network to bridge this gap.
Potential Challenges and Operational Risks
While the expansion plans are ambitious, the company’s ability to meet these targets depends on navigating several external factors. Management has identified that global supply chain disruptions and geopolitical tensions could impact costs and logistics. Furthermore, inflation in the prices of raw materials and currency fluctuations remain risks that could put pressure on profit margins if the company is unable to pass on increased costs to consumers. To mitigate these risks, the firm is balancing its aggressive growth strategy with strict cost discipline, aiming to improve productivity and reduce waste across its manufacturing and distribution channels.
Monitoring Future Execution
The road toward 2030 will rely on the company's ability to maintain its momentum starting from FY27. Investors will likely look for updates on the pace of revenue growth in the upcoming quarterly results and the company's success in increasing the adoption of its newer, higher-value product categories. Key areas to track will include the effectiveness of their omnichannel sales strategy, the impact of continued investment in branding, and the company's success in protecting its profit margins against potential commodity cost increases.