Eureka Forbes Stock: Revenue Badha Par PAT Kaha Gaya? Ek **₹40.4 Cr** Ke Expense Ne Sab Kuch Badal Diya!

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AuthorIshaan Verma|Published at:
Eureka Forbes Stock: Revenue Badha Par PAT Kaha Gaya? Ek **₹40.4 Cr** Ke Expense Ne Sab Kuch Badal Diya!
Overview

Toh bhaiyo aur behno, Eureka Forbes ne apna Q3 FY26 ka results announce kar diya hai. Company ka revenue YoY basis par **8.0%** badhkar **₹645.4 Crore** ho gaya hai, mainly products business, khaas kar Robotics aur Air Purifiers se. Par agar pichhle quarter se compare karein, toh revenue **16.5%** gir gaya. Sabse badi baat, Reported PAT **74.2%** se girkar sirf **₹9.0 Crore** reh gaya hai, kyunki ek **₹40.4 Crore** ka exceptional item tha, jo new Labour Codes ke implementation ke wajah se aaya.

Q3 FY26 Ka Full Financial Picture

Chalo numbers ko thoda detail mein dekhte hain. Q3 FY26 mein, YoY growth 8.0% rahi, revenue ₹645.4 Cr tak pahuncha. Adjusted EBITDA mein 13.7% ka jump dekha gaya, ₹73.2 Cr tak, jisse margin bhi 57 basis points badhkar 11.3% ho gaya. Agar exceptional items ko hata de toh, PAT 11.9% badhkar ₹39.0 Cr tha. Par woh ₹40.4 Crore (pre-tax) ka exceptional charge, jo naye Labour Codes ki wajah se laga, usne reported PAT ko seedha ₹9.0 Crore pe laa diya, jo pichle saal ke comparison mein 74.2% kam hai. Ab agar sequential (QoQ) performance dekhein, toh revenue mein 16.5% ki kami aayi aur EBITDA bhi 28.0% gir gaya.

9 Mahine Ka Haal

Saal ke pehle 9 mahine (9M FY26) mein revenue 11.1% badhkar ₹2,026.6 Cr raha. Adjusted EBITDA 17.7% badhkar ₹241.7 Cr hua, margin 11.9% pe aa gaya. PAT (exceptional items ke bina) 23.6% badhkar ₹139.1 Cr tha. Reported PAT for 9M FY26 raha ₹109.1 Cr, jo YoY se 3.0% kam hai.

Management Kya Bol Raha Hai? (Outlook & Targets)

Company ke management ko apni strategy par full bharosa hai. Unka kehna hai ki current market conditions mein yeh performance resilient hai. Aur future ke liye plans toh bade zabardast hain! FY30 tak revenue ko double karna hai, matlab ₹5,400-5,600 Crore tak pahunchana hai, aur EBITDA ko triple karna hai, ₹800-850 Crore tak le jaana hai, jisse margin ~15.0% ho jayega. Yeh sab karne ke liye company ne premiumization (Aquaguard Arctic Blaze launch), Air Purifiers, Robotics, aur Water Softeners mein portfolio expansion par focus kiya hai. Transformation investments ke liye YTD FY26 mein ₹63 Cr kharch hue hain.

Financial Health Check

Company ke paas ₹254 Crore ki healthy net cash position hai. Aur ROCE toh bhai, 350% se bhi upar hai! Credit rating bhi recently CARE aur CRISIL ne upgrade ki hai, jo company ki financial stability dikhata hai.

Risks Aur Kya Dekhna Hai? (Challenges & What to Watch)

Ab challenges ki baat karte hain. Water Purifier segment mein thodi dikkat hai, channel inventory zyada hai aur consumer demand bhi thodi slow hai. Q3 mein jo sequential dip aaya hai, woh temporary hai ya trend ban raha hai, yeh dekhna hoga. Aur itne bade FY30 targets ko execute karne ka bhi risk hai. Investors ko company ke water purifier segment ko navigate karne ki ability, Robotics aur Air Purifiers mein growth maintain karna, aur transformation strategy ko execute karna chahiye. Transformation investments ka short-term profit par kya impact hoga, yeh bhi important hai.

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