Small-cap stock engaged in the business of manufacturing and selling health, hygiene, and safety products and many more jumped 5 percent in the day’s trade following the release of its Q3FY24 results with a 235% jump in net profit
With a market capitalization of Rs. 9,336 Crores, the shares of Eureka Forbes Limited were trading at Rs. 480, up 5 percent from its previous day’s close price of Rs. 474.15.
Its revenue from operations grew by 13.92 percent YoY from Rs. 473.51 Crores in Q3FY23 to Rs. 539.43 Crores in Q3FY24 and it declined 8.79 percent QoQ from Rs. 591.44 Crores in Q2FY24 to Rs. 539.43 Crores in Q3FY24.
Its Net Profit grew by 235.32 percent YoY from Rs. 6.85 Crores in Q3FY23 to Rs. 22.97 Crores in Q3FY24 and it declined 11.10 percent QoQ from Rs. 25.84 Crores in Q2FY24 to Rs. 22.97 Crores in Q3FY24.
Eureka Forbes Limited is engaged in the business of manufacturing and selling health, hygiene, safety products, and services comprised of water purifiers, vacuum cleaners, air purifiers, and home security systems.
It has reported a return on equity (ROE) of 0.69 percent and a return on capital employed (ROCE) of 1.91 percent, it is not making good returns on its equity and capital employed due to the inconsistency in generating revenue and net profits.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 72.56 percent stake, the Domestic Institutional Investors hold 4 percent and the Foreign Institutional Investors (FII) hold 10.76 percent.
Written by: Bharath K.S
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