Eureka Forbes Limited shareholders approved all agenda items at its 17th Annual General Meeting (AGM) held on August 19, 2026. The company reported that all resolutions were passed with the requisite majority under Section 108 of the Companies Act, 2013 and SEBI Listing Regulations.

The meeting was conducted through Video Conferencing (VC) / Other Audio-Visual Means (OAVM), with the registered office in Mumbai deemed as the venue. Remote e-voting was facilitated by National Securities Depository Limited (NSDL) from August 16 to August 18, 2026. Following the conclusion of the VC session at 12:55 pm, e-voting remained open for an additional 15 minutes until 1:10 pm IST.

Resolution Outcomes

The scrutinizer’s report, submitted by M/s. Mihen Halani & Associates, confirmed the passage of all ordinary resolutions. The voting results highlight a divergence between promoter and public shareholder sentiment on the board composition resolution.

Board Composition and Voting Patterns

The re-appointment of Mr. Sahil Dalal, who retires by rotation, garnered 95.37% support overall. While the promoter group voted unanimously in favor, public institutional investors showed significant dissent, casting 6,931,576 votes against the resolution, representing 24.03% of their polled votes.

Public non-institutional investors also registered dissent, with 8.88% voting against the re-appointment. In contrast, the adoption of the standalone and consolidated financial statements for the year ended March 31, 2026, received nearly unanimous approval, with only 1,347 votes cast against.

Meeting Participation and Proceedings

As on the record date of August 12, 2026, the company had 36,522 shareholders. Participation in the VC/OAVM meeting included one representative from the promoter group and 53 public shareholders. No shareholders attended in person or through proxy. A total of 54 members were present for the AGM.

The total shares held by promoters stood at 121,041,730, with 100% participation in e-voting. Public institutions held 39,685,948 shares, with a 72.64% polling rate. Public non-institutions held 32,779,138 shares, with a polling rate of 0.12%.

Directors and Key Personnel Attendance

The following directors attended the meeting:

• Mr. Arvind Uppal – Chairman, Non – Executive, Non-Independent Director (in person)
• Mr. Pratik Pota – Managing Director & CEO (in person)
• Mr. Sahil Dalal – Non – Executive, Non-Independent Director (via video conference from Mumbai)
• Mr. Vinod Rao – Non – Executive, Independent Director (via video conference from London)
• Mrs. Gurveen Singh – Non – Executive, Independent Director (via video conference from Dubai)
• Mr. Shashank Samant – Non – Executive, Independent Director (via video conference from Santa Clara)
• Mr. Homi Katgara – Non – Executive, Independent Director (in person)

Key Managerial Personnel attending included Mr. Gaurav Khandelwal (CFO) and Ms. Shilpa Jain (Company Secretary & Compliance Officer), both in person. Invites included Mr. Nilesh Shah (Deloitte Haskins & Sells LLP) and Mr. Milin Ramani (Mihen Halani & Associates), both via video conference.

Eureka Forbes Limited reported its highest-ever revenue growth of 15.3% year-on-year in the first quarter of FY27, reaching ₹700.8 crore for the quarter ended June 30, 2026. The standout performance was driven by double-digit volume growth and pricing power in its core Water Purifiers segment, alongside sustained momentum in emerging categories such as Robotics, Air Purifiers, and Water Softeners. While operational profitability expanded modestly, reported Profit After Tax (PAT) surged 43.9% to ₹55.4 crore, significantly boosted by a one-time exceptional gain of ₹19.5 crore from the reversal of gratuity expenses. This result marks a strong start to the company's transformation journey, balancing aggressive growth investments with stable core fundamentals.

The Board of Directors approved the unaudited financial results on August 12, 2026. Statutory Auditors Deloitte Haskins & Sells LLP issued limited review reports confirming compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The press release and investor presentation were filed pursuant to Regulation 30 of the same regulations. Additionally, the company published newspaper advertisements regarding the financial results in Financial Express and Mumbai Lakshdeep on August 13, 2026, pursuant to Regulation 47 of the SEBI LODR Regulations, 2015.

Standalone Financial Highlights

The following table outlines the key standalone financial metrics for Eureka Forbes for Q1FY27:

Standalone basic earnings per share (EPS) rose to ₹2.85 from ₹1.98 in the corresponding period last year.

Consolidated Financial Highlights

On a consolidated basis, Eureka Forbes also delivered strong performance. The key consolidated metrics for Q1FY27 are presented below:

Operational Drivers and Margin Dynamics

Revenue acceleration was broad-based across channels. The product business saw late-teens growth, led by Water Purifiers which benefited from both volume expansion and price increases. Emerging categories continued their strong trajectory, supported by robust omni-channel execution. In the service segment, the company launched an aggressive multi-media campaign to drive awareness of genuine Aquaguard filters, aiming to accelerate adoption rates.

However, Adjusted EBITDA margins moderated by 46 basis points to 10.5% on a standalone basis, down from 11.0% in Q1FY26, while consolidated EBITDA margin stood at 9.9% compared to 10.12% in the year-ago period. This compression was primarily due to a 131 basis point decline in gross margins caused by commodity inflation, as well as higher Advertising and Sales Promotion (A&SP) spends. Management noted that operating leverage was largely influenced by employee costs and other expenses, excluding A&SP investments which were accelerated to strengthen in-store presence in modern retail.

What the Numbers Show

The divergence between headline profit growth and operational margin trends highlights the impact of non-recurring items. While Adjusted PAT (pre-exceptional items) grew by a modest 6.1% to ₹40.9 crore, the inclusion of the ₹19.5 crore exceptional gain from gratuity remeasurement propelled reported PAT up by nearly 44%. On a consolidated basis, the exceptional item stood at ₹195M. This suggests that while top-line momentum is strong and accelerating, core operational profitability is currently under pressure from input cost inflation and strategic growth expenditures. The company's focus remains on unlocking the next phase of its transformation journey, leveraging its extensive service network across 19,500+ pin codes as a competitive moat.