Balance Sheet Eureka Forbes Limited

Equities

EUREKAFORB

INE0KCE01017

Environmental Services & Equipment

Delayed Bombay S.E. Other stock markets 02:11:25 2026-01-16 am EST			5-day change	1st Jan Change
557.00 ^INR	-1.58%		-3.92%	-9.76%

Jan. 08	Court orders Eureka Forbes to pay 10% of 162.2 million rupees tax demand	RE
Nov. 17	Nomura Adjusts Eureka Forbes' Price Target to INR657 From INR624, Keeps at Neutral	MT

579eedd745a591fa99138a554e6c2.fI999gA70R5ST-iFmoeFSMpkjyEu87eUsZzDqig0HNc.Fu4asGtPhTMRCt3W_Ou3Kr1Ww0cdoO_916uk0mBRTe9N7TCkbHChWAp6jw

Published financial data: EUREKA FORBES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	78.46M	3.82B	20.85B	21.89B	24.37B
Total Revenues	78.46M	3.82B	20.85B	21.89B	24.37B
Cost of Goods Sold, Total	68.21M	1.63B	8.4B	8.95B	10.15B
Gross Profit	10.26M	2.19B	12.45B	12.95B	14.22B
Selling General & Admin Expenses, Total	14.7M	505M	3.1B	3.35B	3.37B
Depreciation & Amortization - (IS)	1.42M	91.81M	565M	540M	580M
Other Operating Expenses	8.77M	1.5B	7.89B	7.61B	8.19B
Other Operating Expenses, Total	24.88M	2.09B	11.56B	11.5B	12.14B
Operating Income	-14.63M	91.64M	886M	1.45B	2.08B
Interest Expense, Total	-1.99M	-43.45M	-199M	-95.08M	-55.49M
Interest And Investment Income	320K	2.56M	4.44M	20.61M	72.18M
Net Interest Expenses	-1.67M	-40.9M	-194M	-74.46M	16.69M
Currency Exchange Gains (Loss)	2K	2.92M	1.39M	120K	2.64M
Other Non Operating Income (Expenses)	58K	8.16M	16.93M	15.93M	14.68M
EBT, Excl. Unusual Items	-16.23M	61.82M	710M	1.39B	2.11B
Gain (Loss) On Sale Of Investments	102K	3.71M	21.36M	41.49M	40.01M
Gain (Loss) On Sale Of Assets	-92K	5.08M	51.63M	6.01M	15.34M
Other Unusual Items	-	-	-397M	-151M	41.77M
EBT, Incl. Unusual Items	-16.22M	70.62M	385M	1.28B	2.21B
Income Tax Expense	79K	44.47M	120M	328M	563M
Earnings From Continuing Operations	-16.3M	26.15M	265M	956M	1.64B
Net Income to Company	-16.3M	26.15M	265M	956M	1.64B
Minority Interest	-	-161K	853K	-111K	-143K
Net Income - (IS)	-16.3M	25.99M	266M	956M	1.64B
Net Income to Common Incl Extra Items	-16.3M	25.99M	266M	956M	1.64B
Net Income to Common Excl. Extra Items	-16.3M	25.99M	266M	956M	1.64B
Per Share Items
Net EPS - Basic	-3.38	0.72	1.37	4.94	8.46
Basic EPS - Continuing Operations	-3.38	0.72	1.37	4.94	8.46
Basic Weighted Average Shares Outstanding	4.83M	36.27M	193M	193M	194M
Net EPS - Diluted	-3.38	0.72	1.37	4.93	8.46
Diluted EPS - Continuing Operations	-3.38	0.72	1.37	4.93	8.46
Diluted Weighted Average Shares Outstanding	4.83M	36.27M	193M	194M	194M
Normalized Basic EPS	-2.1	1.06	2.3	4.48	6.79
Normalized Diluted EPS	-2.1	1.06	2.3	4.47	6.79
Supplemental Items
EBITDA	-14.11M	164M	1.33B	1.85B	2.49B
EBITA	-14.63M	134M	1.13B	1.69B	2.32B
EBIT	-14.63M	91.64M	886M	1.45B	2.08B
EBITDAR	-13.18M	178M	1.4B	1.91B	2.55B
Total Revenues (As Reported)	78.85M	3.84B	20.95B	21.98B	24.51B
Effective Tax Rate - (Ratio)	-0.49	62.97	31.26	25.55	25.5
Total Current Taxes	-	24.39M	208M	408M	590M
Total Deferred Taxes	-	19.25M	-87.68M	-80.1M	-27.37M
Normalized Net Income	-10.15M	38.48M	444M	867M	1.32B
Interest on Long-Term Debt	41K	2.3M	18.36M	19.1M	30.28M
Non-Cash Pension Expense	-11K	658K	4.06M	4.09M	2.67M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	-	32.08M	95.53M	160M	181M
Net Rental Expense, Total	930K	13.83M	72.7M	51.74M	64.02M
Imputed Operating Lease Interest Expense	-	3.73M	58.36M	44.05M	88.4M
Imputed Operating Lease Depreciation	-	10.1M	14.35M	7.69M	-24.38M
Maintenance & Repair Expenses, Total	75K	15.81M	67.74M	61.38M	75.89M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	345M	221M
Total Stock-Based Compensation	-	-	-	345M	221M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.98M	178M	185M	613M	955M
Short Term Investments	6K	-	-	-	-
Trading Asset Securities, Total	240K	617M	758M	549M	589M
Total Cash And Short Term Investments	2.23M	795M	943M	1.16B	1.54B
Accounts Receivable, Total	23.56M	1.5B	1.24B	1.38B	1.8B
Notes Receivable	-	792K	652K	4.81M	4.82M
Total Receivables	23.56M	1.5B	1.24B	1.38B	1.81B
Inventory	20.4M	2.9B	2.2B	2.53B	2.53B
Prepaid Expenses	657K	112M	123M	113M	119M
Other Current Assets, Total	5.78M	332M	465M	891M	1.98B
Total Current Assets	52.63M	5.65B	4.97B	6.07B	7.98B
Gross Property Plant And Equipment	8.18M	2.98B	3.25B	3.42B	3.92B
Accumulated Depreciation	-6.57M	-50.57M	-305M	-527M	-801M
Net Property Plant And Equipment	1.61M	2.93B	2.94B	2.9B	3.12B
Long-term Investments	150K	2.79M	578K	4.71M	234K
Goodwill	-	20.59B	20.59B	20.59B	20.59B
Other Intangibles, Total	77K	31.53B	31.3B	31.16B	31.03B
Accounts Receivable Long-Term	-	33.28M	-	-	-
Deferred Tax Assets Long-Term	-	9.31M	12.75M	12.51M	11.99M
Other Long-Term Assets, Total	16.97M	537M	490M	562M	656M
Total Assets	71.43M	61.27B	60.31B	61.29B	63.38B
Liabilities
Accounts Payable, Total	47.73M	2.21B	2.09B	1.94B	1.83B
Accrued Expenses, Total	4M	974M	1.23B	1.55B	1.72B
Short-term Borrowings	15M	1.68B	711M	-	-
Current Portion of Long-Term Debt	-	252M	252M	249M	-
Current Portion of Leases	134K	73.13M	104M	97.28M	101M
Current Income Taxes Payable	261K	52.8M	189M	648M	1.19B
Unearned Revenue Current, Total	-	4.51B	4.37B	4.32B	3.79B
Other Current Liabilities	2.7M	544M	607M	722M	882M
Total Current Liabilities	69.83M	10.3B	9.55B	9.52B	9.52B
Long-Term Debt	-	496M	247M	-	-
Long-Term Leases	-	61.28M	85.72M	40.97M	155M
Unearned Revenue Non Current	-	1.29B	1.17B	1.29B	1.49B
Pension & Other Post Retirement Benefits	-	2.23M	1.47M	1.71M	2.14M
Deferred Tax Liability Non Current	-	8.27B	8.19B	8.11B	8.09B
Other Non Current Liabilities	219K	81.01M	69.99M	63.19M	23.68M
Total Liabilities	70.05M	20.5B	19.32B	19.03B	19.28B
Common Stock, Total	48.27M	1.93B	1.93B	1.93B	1.93B
Additional Paid In Capital	-	38.71B	38.71B	38.71B	38.71B
Retained Earnings	-46.89M	-21.72M	196M	1.13B	2.74B
Comprehensive Income and Other	-	141M	139M	486M	707M
Total Common Equity	1.39M	40.76B	40.98B	42.26B	44.09B
Minority Interest	-	12.74M	11.89M	12M	12.13M
Total Equity	1.39M	40.77B	40.99B	42.27B	44.1B
Total Liabilities And Equity	71.43M	61.27B	60.31B	61.29B	63.38B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.83M	193M	193M	193M	193M
ECS Total Common Shares Outstanding	4.83M	193M	193M	193M	193M
Book Value / Share	0.29	210.67	211.79	218.4	227.86
Tangible Book Value	1.31M	-11.36B	-10.92B	-9.49B	-7.53B
Tangible Book Value Per Share	0.27	-58.72	-56.41	-49.05	-38.91
Total Debt	15.13M	2.56B	1.4B	387M	256M
Net Debt	12.91M	1.77B	456M	-775M	-1.29B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-482K	20.86M	53.51M	35.58M	50.12M
Debt Equivalent Oper. Leases	7.44M	111M	582M	414M	512M
Minority Interest, Total (Incl. Fin. Div)	-	12.74M	11.89M	12M	12.13M
Account Code - Inventory Valuation	-	6	6	6	6
Inventories - Raw Materials, Total	14.74M	542M	513M	601M	673M
Inventories - Work In Process, Total	5.66M	2.5M	4.65M	-	7.51M
Inventories - Finished Goods, Total	-	1.68B	1.09B	1.17B	1.35B
Inventories - Others	-	678M	589M	755M	499M
Land - (BS)	-	640M	640M	640M	640M
Buildings, Total	-	1.47B	1.48B	1.49B	1.51B
Machinery, Total	6.31M	685M	795M	931M	1.17B
Full Time Employees	-	4.15K	2.9K	2.67K	2.72K
Assets on Operating Lease - Gross	-	-	719K	719K	719K
Assets on Operating Lease - Accumulated Depreciation	-	-	-90K	-204K	-318K
Accumulated Allowance for Doubtful Accounts (Supple)	4.47M	329M	358M	87.87M	77.65M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	-16.3M	25.99M	266M	956M	1.64B
Depreciation & Amortization - CF	1.41M	46.93M	310M	288M	307M
Amortization of Goodwill and Intangible Assets - (CF)	-	42.85M	245M	245M	245M
Depreciation & Amortization, Total	1.41M	89.78M	555M	533M	553M
Amortization of Deferred Charges, Total - (CF)	7K	2.03M	9.26M	7.46M	27.39M
(Gain) Loss From Sale Of Asset	92K	-5.08M	-51.63M	-6.01M	-15.34M
(Gain) Loss on Sale of Investments - (CF)	-102K	-3.71M	-21.36M	-41.49M	-40.01M
Stock-Based Compensation (CF)	-	-	-	345M	221M
Provision and Write-off of Bad Debts	2.48M	2.74M	80.89M	16.2M	-7.94M
Other Operating Activities, Total	4.33M	75.9M	646M	552M	686M
Change In Accounts Receivable	2.04M	126M	225M	-155M	-418M
Change In Inventories	9.5M	220M	453M	-478M	-90.22M
Change In Accounts Payable	-5.24M	73.45M	-123M	-150M	-104M
Change in Other Net Operating Assets	2.72M	-240M	-232M	365M	4.45M
Cash from Operations	938K	367M	1.81B	1.94B	2.46B
Capital Expenditure	-	-53.95M	-213M	-284M	-597M
Sale of Property, Plant, and Equipment	-	13.93M	80.15M	33.87M	41.09M
Investment in Marketable and Equity Securities, Total	-	-	-120M	250M	-
Other Investing Activities, Total	1.66M	2.66M	-11.03M	-316M	-1.13B
Cash from Investing	1.66M	-37.35M	-263M	-316M	-1.68B
Short Term Debt Repaid, Total	-	-232M	-967M	-714M	-
Long-Term Debt Repaid, Total	-918K	-21.39M	-379M	-392M	-409M
Total Debt Repaid	-918K	-253M	-1.35B	-1.11B	-409M
Other Financing Activities, Total	-1.95M	-60.79M	-189M	-95.2M	-25.2M
Cash from Financing	-2.86M	-314M	-1.54B	-1.2B	-434M
Miscellaneous Cash Flow Adjustments	-	160M	-	-	-
Net Change in Cash	-267K	176M	7.88M	428M	342M
Supplemental Items
Cash Interest Paid	1.95M	42.26M	184M	95.2M	25.2M
Cash Income Tax Paid (Refund)	-2.3M	12.04M	61.78M	14.03M	-51.54M
Levered Free Cash Flow	-	3.51B	1.8B	1.25B	191M
Unlevered Free Cash Flow	-	3.53B	1.92B	1.31B	226M
Change In Net Working Capital	-	-3.44B	-1.01B	197M	1.28B
Net Debt Issued / Repaid	-918K	-253M	-1.35B	-1.11B	-409M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	-	0.19	0.91	1.49	2.08
Return on Total Capital	-	0.26	1.29	2.13	2.98
Return On Equity %	-	0.13	0.65	2.3	3.81
Return on Common Equity	-	0.13	0.65	2.3	3.81
Margin Analysis
Gross Profit Margin %	13.07	57.27	59.7	59.13	58.34
SG&A Margin	18.74	13.23	14.89	15.3	13.82
EBITDA Margin %	-17.98	4.29	6.36	8.47	10.22
EBITA Margin %	-18.64	3.52	5.42	7.73	9.52
EBIT Margin %	-18.64	2.4	4.25	6.61	8.52
Income From Continuing Operations Margin %	-20.78	0.68	1.27	4.37	6.75
Net Income Margin %	-20.78	0.68	1.27	4.37	6.75
Net Avail. For Common Margin %	-20.78	0.68	1.27	4.37	6.75
Normalized Net Income Margin	-12.93	1.01	2.13	3.96	5.41
Levered Free Cash Flow Margin	-	91.88	8.61	5.7	0.78
Unlevered Free Cash Flow Margin	-	92.59	9.21	5.97	0.93
Asset Turnover
Asset Turnover	-	0.12	0.34	0.36	0.39
Fixed Assets Turnover	-	2.61	7.11	7.5	8.1
Receivables Turnover (Average Receivables)	-	5	15.22	16.76	15.34
Inventory Turnover (Average Inventory)	-	1.12	3.29	3.79	4.02
Short Term Liquidity
Current Ratio	0.75	0.55	0.52	0.64	0.84
Quick Ratio	0.37	0.22	0.23	0.27	0.35
Operating Cash Flow to Current Liabilities	0.01	0.04	0.19	0.2	0.26
Days Sales Outstanding (Average Receivables)	-	72.97	23.98	21.83	23.79
Days Outstanding Inventory (Average Inventory)	-	327.1	110.88	96.69	90.89
Average Days Payable Outstanding	-	91.27	101.86	79.39	67.72
Cash Conversion Cycle (Average Days)	-	308.8	33	39.14	46.95
Long Term Solvency
Total Debt/Equity	1.09K	6.28	3.41	0.92	0.58
Total Debt / Total Capital	91.6	5.91	3.3	0.91	0.58
LT Debt/Equity	-	1.37	0.81	0.1	0.35
Long-Term Debt / Total Capital	-	1.28	0.79	0.1	0.35
Total Liabilities / Total Assets	98.06	33.46	32.03	31.04	30.42
EBIT / Interest Expense	-7.36	2.11	4.46	15.21	37.41
EBITDA / Interest Expense	-6.65	4.18	7.25	20.81	47.37
(EBITDA - Capex) / Interest Expense	-6.65	2.93	6.18	17.83	36.62
Total Debt / EBITDA	-1.14	14.12	0.97	0.2	0.1
Net Debt / EBITDA	-0.98	9.74	0.32	-0.39	-0.49
Total Debt / (EBITDA - Capex)	-1.14	20.1	1.14	0.23	0.13
Net Debt / (EBITDA - Capex)	-0.98	13.87	0.37	-0.46	-0.63
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	4.77K	446.04	5.02	11.31
Gross Profit, 1 Yr. Growth %	-	21.22K	469.22	4.02	9.82
EBITDA, 1 Yr. Growth %	-	-1.26K	709.54	39.75	34.32
EBITA, 1 Yr. Growth %	-	-1.02K	740.8	49.58	37.23
EBIT, 1 Yr. Growth %	-	-726.51	866.35	63.31	43.54
Earnings From Cont. Operations, 1 Yr. Growth %	-	-260.41	912.24	261.32	71.89
Net Income, 1 Yr. Growth %	-	-259.42	921.8	260.12	71.9
Normalized Net Income, 1 Yr. Growth %	-	-479.25	1.05K	95.18	52.04
Diluted EPS Before Extra, 1 Yr. Growth %	-	-121.2	91.18	259.85	71.6
Accounts Receivable, 1 Yr. Growth %	-	6.28K	-17.71	11.2	30.98
Inventory, 1 Yr. Growth %	-	14.13K	-24.21	14.85	0.07
Net Property, Plant and Equip., 1 Yr. Growth %	-	182K	0.57	-1.57	7.69
Total Assets, 1 Yr. Growth %	-	85.68K	-1.58	1.64	3.4
Tangible Book Value, 1 Yr. Growth %	-	-867K	-3.92	-13.06	-20.67
Common Equity, 1 Yr. Growth %	-	2.94M	0.53	3.12	4.33
Cash From Operations, 1 Yr. Growth %	-	39.07K	391.68	7.66	26.5
Capital Expenditures, 1 Yr. Growth %	-	-	294	33.59	110.11
Levered Free Cash Flow, 1 Yr. Growth %	-	-	-48.81	-30.49	-84.7
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-	-45.68	-31.88	-82.74
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	1.53K	139.47	8.12
Gross Profit, 2 Yr. CAGR %	-	-	3.38K	143.33	6.88
EBITDA, 2 Yr. CAGR %	-	-	869.51	236.35	37.01
EBITA, 2 Yr. CAGR %	-	-	779.25	254.63	43.27
EBIT, 2 Yr. CAGR %	-	-	678.09	297.26	53.11
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-	302.96	504.77	149.21
Net Income, 2 Yr. CAGR %	-	-	303.61	506.6	148.8
Normalized Net Income, 2 Yr. CAGR %	-	-	561.76	374.74	72.26
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	-36.33	162.29	148.5
Accounts Receivable, 2 Yr. CAGR %	-	-	624.51	-4.34	20.68
Inventory, 2 Yr. CAGR %	-	-	938.45	-6.7	7.21
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	4.17K	-0.51	2.96
Total Assets, 2 Yr. CAGR %	-	-	2.81K	0.02	2.52
Tangible Book Value, 2 Yr. CAGR %	-	-	9.03K	-8.61	-16.96
Common Equity, 2 Yr. CAGR %	-	-	17.09K	1.82	3.73
Cash From Operations, 2 Yr. CAGR %	-	-	4.29K	130.08	16.7
Capital Expenditures, 2 Yr. CAGR %	-	-	-	129.43	67.54
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-40.34	-67.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-	-39.17	-65.71
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	553.45	85.5
Gross Profit, 3 Yr. CAGR %	-	-	-	980.69	86.65
EBITDA, 3 Yr. CAGR %	-	-	-	408.34	147.69
EBITA, 3 Yr. CAGR %	-	-	-	387.19	158.42
EBIT, 3 Yr. CAGR %	-	-	-	362.4	182.95
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-	288.57	297.63
Net Income, 3 Yr. CAGR %	-	-	-	288.56	298.44
Normalized Net Income, 3 Yr. CAGR %	-	-	-	340.5	224.8
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	13.41	127.7
Accounts Receivable, 3 Yr. CAGR %	-	-	-	287.91	6.22
Inventory, 3 Yr. CAGR %	-	-	-	398.46	-4.5
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	1.12K	2.15
Total Assets, 3 Yr. CAGR %	-	-	-	850.25	1.13
Tangible Book Value, 3 Yr. CAGR %	-	-	-	1.83K	-12.82
Common Equity, 3 Yr. CAGR %	-	-	-	3.02K	2.65
Cash From Operations, 3 Yr. CAGR %	-	-	-	1.18K	88.49
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	122.8
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-62.09
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-	-60.03