India · Delayed Price · Currency is INR Eureka Forbes Earnings Call Transcripts
Fiscal Year 2027
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Revenue grew 15.3% year-on-year to INR 701 crore, led by strong product and emerging category growth, while gross margin declined due to cost pressures. Adjusted EBITDA margin was 10.5%, with full-year margins expected to match last year. Market share gains and robust cash position support a positive outlook.
Fiscal Year 2026
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Revenue grew 11.3% in FY 2026 with double-digit gains in both product and service segments, and adjusted EBITDA margin expanded to 12.2%. Management expects to accelerate growth in FY 2027 while maintaining margins, supported by strong momentum in emerging categories and robust cash generation.
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Q3 FY26 saw 8% revenue growth and margin expansion despite a post-festive slowdown, with strong gains in emerging categories and services. Inventory normalization and robust fundamentals support a positive outlook, with double-digit growth expected to resume in Q4 and long-term targets unchanged.
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Q2 FY26 delivered 14.9% revenue growth and record profitability, with strong gains in both product and service segments. Robotics and cleaning categories led growth, while margin expansion was achieved despite higher investments. Management expects continued double-digit growth and margin improvement.
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Revenue grew 9.9% year-over-year to INR 607.7 crores, with double-digit growth in products and a strong turnaround in service bookings. Adjusted EBITDA margin was 11%, and PAT rose 24.1%. Service revenue growth will reflect from Q4, with full-year margin improvement targeted.
Fiscal Year 2025
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FY 2025 saw robust double-digit growth, margin expansion, and strong product innovation, with six consecutive quarters of high teens product growth and record service quality. Management expects continued momentum, supported by premiumization, cost efficiencies, and high investment in brand and category development.
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Q3 FY25 saw 11% revenue growth and 53.6% PAT growth, driven by premium innovations and robust product sales. Service revenue lagged due to ASP dilution, but AMC volumes grew. Margin expansion and improved customer KPIs were achieved despite higher A&SP spend.
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Q2 FY25 saw 13.6% revenue growth and 83% PAT growth, driven by strong product sales, premiumization, and expanded service offerings. Adjusted EBITDA margin improved to 11.5% despite higher ad spend, with broad-based growth across channels and regions.
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Revenue grew 9.4% YoY (10.8% excluding discontinued ops) to INR 552.8 crore, with high teens growth in products and double-digit growth in services. Adjusted EBITDA margin hit a record 11.5%, and market share gains were seen in premium water purifiers. Demand outlook remains cautious amid inflation.