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Eureka Forbes Gets HDFC Securities 'Buy' On Coverage Initiation; Stock Remains Top Pick In Consumer Durables
The brokerage remains positive on Eureka’s growth prospects, owing to its high brand equity, capable management team, and asset-light business model.
25 Nov 2025, 10:47 AM IST 
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Eureka stands as the market leader in both electric water purifiers and vacuum cleaners—categories that are still highly underpenetrated in India, with penetration rates of just 6% and 2%, respectively. (Photo Source: Company website)
Eureka Forbes has undergone a major turnaround under new management following Eureka’s acquisition by Advent International, with notable improvements in both growth and margins. HDFC Securities expects the company to achieve revenue/Ebitda/APAT CAGRs of 14/23/27% respectively, over FY25–28E, led by sustained momentum in water purifiers, recovery in the service business, and strong traction in vacuum cleaners.
