Eureka Forbes Limited , a leading health and hygiene company in India, has reported robust financial results for the second quarter, demonstrating significant growth across key metrics.

Financial Highlights

For the quarter, Eureka Forbes reported:

Key Performance Drivers

The company's strong performance was driven by several factors:

1. Product Growth: Eureka Forbes achieved high-teens growth in its products business, marking the eighth consecutive quarter of double-digit growth in this segment.

2. Water Purifier Segment: The company saw robust volume-led growth in water purifiers, with notable performance in both economy and premium segments.

3. Cleaning Category: The robotics segment emerged as a significant growth driver within the vacuum cleaner category, performing well across all channels.

4. Service Business: The company reported a double-digit growth in Annual Maintenance Contract (AMC) bookings, indicating a successful turnaround in its service business.

5. Operational Efficiency: Despite increased growth investments, Eureka Forbes managed to improve its EBITDA margin, reaching a lifetime high of 13.10%.

Management Commentary

Pratik Pota, Managing Director & CEO of Eureka Forbes Limited, commented on the results:

"We delivered a strong revenue growth of 14.9% YoY and EBITDA crossed Rs. 100 Cr for the first time at a lifetime high margin of 13.1%."

He further added, "Our revenue growth came on the back of a high-teens growth in Products, with all our categories growing well. In Water, growth came on the back of a scale up of our 2-year range which reduces the cost of ownership significantly. In Cleaning, the biggest engine of growth was the Robotics segment which performed well across all channels."

Conclusion

Eureka Forbes' quarterly results demonstrate the company's ability to drive growth and improve profitability in a challenging market environment. The strong performance across product categories, coupled with improvements in the service business and operational efficiencies, positions the company well for continued success in the health and hygiene sector.

Eureka Forbes , a leading player in the consumer durables and water purification sector, has announced a strategic move to strengthen its presence in the Middle East market. The company has appointed a new partner to manage trading operations for its Forbes brand in the Gulf Cooperation Council (GCC) region.

Expanding Footprint in the Middle East

The newly established partnership marks a significant step for Eureka Forbes in its efforts to expand its market reach within the GCC countries. This region, known for its dynamic economies and growing consumer base, presents a promising opportunity for the company's growth strategy.

Strategic Trading Arrangement

Under this new arrangement, the appointed partner will be responsible for handling the trading operations of the Forbes brand across the GCC region. This collaboration is expected to leverage the partner's local expertise and network, potentially leading to enhanced distribution and market penetration for Eureka Forbes' products.

Implications for Eureka Forbes

This strategic partnership underscores Eureka Forbes' commitment to international expansion and its recognition of the GCC region's potential. By entrusting the trading operations to a local partner, the company aims to navigate the unique market dynamics of the Middle East more effectively.

The move could potentially result in:

• Improved market access in GCC countries
• Enhanced brand visibility for Forbes products
• Streamlined distribution channels
• Better adaptation to local consumer preferences and regulations

As Eureka Forbes continues to expand its global footprint, this new trading partnership in the GCC region represents a significant step towards strengthening its position in the international market. Stakeholders will be keen to observe how this strategic move translates into business growth and market share in the coming months.