India's Eureka Forbes rises as HDFC Securities starts coverage with 'buy'

Eureka Forbes

26/11/2025 06:55

** Shares of Eureka Forbes rise as much as 2.4% to 597 rupees; stock currently up 1.8%

** HDFC Securities initiates coverage on household appliances maker; rates stock as "Buy" with PT at 830 rupees

** Brokerage cites co's strong market leadership in highly underpenetrated categories, its high brand equity, capable management team, and asset-light business model

** HDFC Securities says co's EBITDA margin improved from 7% in FY23 to 11% in FY25 and to 12% in H1FY26 and sees it rising to mid-teens percentages within the next five years

** Brokerage expects firm's consol revenue to grow at a compounded annual rate of 14% over FY25 to FY28E

** YTD stock up 3.19%

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))