Eureka Forbes

May 19 (Reuters) - Eureka Forbes Ltd EURK.NS:

• EUREKA FORBES MARCH-QUARTER CONSOL NET PROFIT 510.3 MILLION RUPEES

• EUREKA FORBES MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 6.84 BILLION RUPEES

Source text: ID:nBSE18R1x5

Further company coverage: EURK.NS

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** UBS initiates coverage on Eureka Forbes EURK.NS with Buy rating, PT of 640 rupees

** PT implies 43.8% upside to last close of 445 rupees

** Brokerage expects favourable top-down tailwinds to support underpenetrated water purifier category

** Expects co's investment push in capex to drive market share by 150 bps in water purifiers in FY27-28

** Scale-up of higher-margin service and filter business may drive 250 bp margin expansion in FY26–30

** Sees 18% revenue growth in vacuum cleaner/air purifier biz in FY26–33 on low penetration

** Says rising health and hygiene awareness a positive

** Stock rated "Strong Buy" by 11 analysts with a median target of 710 rupees, according to data compiled by LSEG

** EURK is down 0.4% at 446 rupees, down 28% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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Feb 4 (Reuters) - Eureka Forbes Ltd EURK.NS:

• EUREKA FORBES DEC-QUARTER CONSOL NET PROFIT 100.2 MILLION RUPEES

• EUREKA FORBES LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 6.45 BILLION RUPEES

Source text: ID:nnAZN4S8VMG

Further company coverage: EURK.NS

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Jan 8 (Reuters) - Eureka Forbes Ltd EURK.NS:

• COURT ORDERS CO TO PAY 10% OF 162.2 MILLION RUPEES TAX DEMAND

Source text: ID:nBSEcbBkvr

Further company coverage: EURK.NS

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Nov 13 (Reuters) - Eureka Forbes EURK.NS:

• SEPT-QUARTER CONSOL NET PROFIT 629 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 7.72 BILLION RUPEES

Source text: [ID:]

Further company coverage: EURK.NS

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Oct 16 (Reuters) - Eureka Forbes Ltd EURK.NS:

• GOT TAX DEMAND ORDER OF 162.2 MILLION RUPEES

Source text: ID:nNSEF1wmh

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** Shares of Eureka Forbes EURK.NS up 2.7% to 604 rupees

** Water and air purifier maker partners with electronic manufacturing services provider Dixon Technologies (India) DIXO.NS

** Under the partnership, Dixon Tech will produce a range of robotic vacuum cleaners for Eureka

** DIXO up 1.3%

** EURK set to rise most in a session since May 19

** Avg rating of six analysts is "strong buy" and median PT is 705 rupees, ~16.7% higher than current price - data compiled by LSEG

** EURK up ~4% YTD

(Reporting by Anuran Sadhu in Bengaluru)

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** Shares of Eureka Forbes Ltd EURK.NS rise as much as 10.1% to 598 rupees

** Water, air purifier maker's Q4 consol net profit more than doubled y/y to 495 mln rupees ($5.8 mln); rev grew 10.7%

** Adj. EBITDA margin grew to 13% from 11.2% year ago driven by operating leverage, cost reduction

** Stock on track to gain for fourth straight day

** More than 1 mln shares traded as of 1:10 p.m. IST, 5x their 30-day moving avg

** Mean rating of stock is "strong buy"; their median PT is 635 rupees - data compiled by LSEG

** EURK last up 9.7%, cutting YTD losses to 6.3%

($1 = 85.5690 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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April 16 (Reuters) - Eureka Forbes Ltd EURK.NS:

• INDIA COURT GRANTS INTERIM RELIEF TO EUREKA FORBES

Source text: ID:nBSE9TxGCm

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Jan 10 (Reuters) - Eureka Forbes Ltd EURK.NS:

• EUREKA FORBES - ORDER RECEIVED REJECTING APPLICATION FOR RECTIFICATION

Source text: ID:nBSE8HcJpv

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** Shares of Eureka Forbes EURK.NS rise 4% to 616 rupees

** The household appliances maker's Q2 consol net profit jumped 84.7% Y/Y, revenue rose 13.8% Y/Y

** Trading vols at 1.1 mln, 3.9X 30-day average

** EURK up ~23% since listing on Sept. 11

(Reporting by Vijay Malkar)

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Aug 30 (Reuters) - Eureka Forbes Ltd EURK.BO:

• GOT TAX DEMAND ORDER FOR 14.5 MILLION RUPEES, PENALTY FOR 1.5 MILLION RUPEES

Source text for Eikon: ID:nBSE9JJjfV

Further company coverage: EURK.BO

(Reporting by VijayDattaram Malkar)

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April 10 (Reuters) - Eureka Forbes Ltd EURK.BO:

• GETS TAX ORDER FOR PENALTY AT 1.2 MILLION RUPEES

Source text for Eikon: [ID:]

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** Shares of Eureka Forbes EURK.BO up 1.1% at 497.5 rupees

** Goldman Sachs, BofA Securities, Societe Generale, Aditya Birla Sun Life Insurance, Morgan Stanley, Plutus Wealth Management, Cassini Partners bought stake in co in bulk deals, per data on BSE

** Institutions bought stake at 504.95 rupees per share, a 1% discount to Wednesday's close

** Co's backer Lunolux sold a 10% stake at 506.06 rupees per share, a 0.8% discount to Wednesday's close; Lunolux had a 72.56% stake in EURK as of Dec. 31 2023 per BSE data

** Stock climbed as much as 2.6% today before paring some gains

** Stock had opened at a two-month high on Thursday before plummeting to close lower after stake sale report

(Reporting by Varun Vyas in Bengaluru)

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** Shares of Eureka Forbes EURK.BO fall 3.5% to 492.45 rupees

** Top shareholder Advent International likely to sell up to 12% stake in EURK via block deals at a floor price of 494.75 rupees apiece - CNBC Awaaz reports

** Eureka and Advent did not immediately respond to Reuters request for comment

** Nearly 22 mln shares change hands in EURK's busiest session ever

** Stock down 3.6% YTD after rising 5.9% in 2023

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Eureka Forbes EURK.BO up 3.1% to 490.65 rupees

** The water and air purifier maker reported a more than three-fold surge in consolidated net profit to 229.7 mln rupees ($2.8 mln) for the Dec-qtr, rev rose 13.9%

** Stock on track for second consecutive session of gains, if trends hold

** Volumes grew for the third consecutive quarter in both water purifiers and vacuum cleaners, the company said in a statement

** More than 164,000 shares change hands by 11:34 a.m. IST, 1.7x its 30-day avg

($1 = 83.0800 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Kotak Institutional Equities begins coverage of water filters and purifiers maker Eureka Forbes EURK.BO with "buy" rating and fair value of 670 rupees

** Brokerage says low penetration rates in water purifiers, new management and asset-light business model and high-margin service revenue pool to help volume growth and margin expansion

** Adds, water purifier rental offerings to help regain EURK market share from rivals

** Nomura had initiated coverage on EURK with "neutral" last week; Elara Securities and ICICI Securities each rate the stock "buy"

** EURK stock up 1.4% to 570 rupees; stock had touched a six-month high earlier in the day

** Stock up 18% YTD, while rivals Havells HVEL.NS up 21%, Polycab India POLC.NS up 2.2X, and Whirlpool of India WHIR.NS down 10% so far this year

(Reporting by Varun Vyas in Bengaluru)

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** Water filters and purifiers maker Eureka Forbes EURK.BO has several catalysts in place to drive growth, says Nomura

** Brokerage initiates coverage on EURK with a "neutral" recommendation, target price fixed at 568 rupees, an 8.8% implied upside over Dec. 1 close of 522 rupees

** Structural drivers such as rising electricity availability, access to piped water in rural households, high levels of total dissolved solids (TDS) in water in many states necessitates need for water purifiers - Nomura

** Adds, company's market leadership in water purifier and vacuum cleaner segments with 40% and 70% market share in fiscal 2023, low penetration levels of water purifiers present long-term growth visibility for EURK

** Shares of EURK up as much as 1.79% to 535 rupees apiece, as of 10:50 a.m. IST; stock up 11% in 2023 so far - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 10 (Reuters) - Eureka Forbes Ltd EURK.BO:

• INDIA'S EUREKA FORBES SEPT-QUARTER CONSOL NET PROFIT 258.3 MILLION RUPEES VERSUS LOSS 207.5 MILLION RUPEES

• EUREKA FORBES SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 5.91 BILLION RUPEES VERSUS 5.76 BILLION RUPEES

Source text for Eikon: ID:nBSEbTjBWR

Further company coverage: EURK.BO

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Aug 8 (Reuters) - Eureka Forbes Ltd EURK.BO:

• JUNE-QUARTER CONSOL NET PROFIT 254.5 MILLION RUPEES VERSUS PROFIT 198.4 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 5.05 BILLION RUPEES VERSUS 5.26 BILLION RUPEES

Source text for Eikon: ID:nBSE2Ql400

Further company coverage: EURK.BO

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** Shares of Eureka Forbes Ltd EURK.BO jump as much as 11.26% to 447 rupees

** Uptick after the water and air purifiers' maker reports net profit that nearly quadrupled Y/Y in March quarter to 163 mln rupees compared to 48 mln rupees in the corresponding quarter last year

** Revenue climbs 36% to 5.08 bln rupees

** Strong execution aided profitability, said Pratik Pota, managing director and chief executive officer of EURK

** "A 72% Y/Y reduction in debt will allow the company the headroom to invest in growth"

** Trading volume is 214,194 shares as of 1:25 p.m. IST, quadruple the 30-day avg - Refinitiv data

(Reporting by Bharath Rajeswaran in Bengaluru)

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BENGALURU, April 19 (Reuters) - Diary of India economic, corporate events on April 19.

ECONOMIC, CORPORATE .BSE500 EVENTS:

(Compiled by Bengaluru Newsroom)

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