Latest news with #EurekaForbesLtd
The Hindu
3 days ago
- Business
- The Hindu
Consumer rights panel slaps fine on company for failure to service water purifier
The Ernakulam District Consumer Disputes Redressal Commission has slapped a company engaged in manufacturing and marketing household electrical appliances with a fine of ₹30,000 for the alleged failure to repair a water purifier despite an annual maintenance contract (AMC) being in place. The Commission comprising D.B. Binu, president, and members V. Ramachandran and Sreevidhia T.N. issued the ex parte order on a petition filed by one Ajish. K. John of Kothamangalam against the manager of Eureka Forbes Ltd. The complainant said he had an AMC with the opposite party since 2018, which he regularly renewed for uninterrupted service. Despite this, the complainant faced repeated service issues. In April 2024, the purifier began leaking, and although a service request was raised, it was later cancelled unilaterally by the opposite party, he said. Following this, the complainant approached the Commission. However, the opposite party failed to submit any argument notes or participate in the proceedings. The Commission observed that the service lapses constituted a deficiency in service as defined under Section 2(11) of the Consumer Protection Act, 2019. Further, unilateral cancellation of a service request without informing the complainant amounts to an unfair trade practice under Section 2(47), as it misleads or fails to fulfil a promised contractual obligation, the Commission observed. The complainant, being deprived of clean drinking water due to the non-functioning of the purifier, endured mental agony, hardship, and inconvenience, especially given that the purifier was essential due to contaminated well water. 'The Complainant, despite diligently maintaining an Annual Maintenance Contract and repeatedly reaching out for help, was met with silence, delays, and even the unjust cancellation of service. This experience not only disrupted his daily life but also caused significant mental distress. When a consumer is compelled to approach a legal forum for the enforcement of basic service obligations, it reflects a glaring failure in corporate responsibility and empathy, values that should be at the heart of every consumer-facing organisation,' the Commission remarked. Consequently, the opposite party was directed to pay ₹25,000 as fine and another ₹5,000 towards the cost of legal proceedings.
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Business Standard
16-05-2025
- Business
- Business Standard
Eureka Forbes Q4 results: Profit doubles to Rs 49.5 cr, revenue up 10.6%
Health and hygiene products maker Eureka Forbes Ltd on Friday reported a twofold increase in its consolidated net profit to Rs 49.48 crore in the March quarter of 2024-25. The company had posted a net profit of Rs 21.38 crore in the January-March quarter a year ago, according to a regulatory filing by the firm now controlled by private equity firm Advent International. Its revenue from operations was up 10.67 per cent to Rs 612.65 crore during the quarter under review. It was at Rs 553.56 crore in the corresponding quarter. Eureka Forbes' total expenses increased 7 per cent to Rs 551.75 crore in the March quarter. Total income, which includes other income, was up 11 at Rs 617.04 crore in the quarter. Commenting on the results, the company's MD and CEO Pratik Pota said: "In Q4, continuing business revenue grew by 10.9% YoY, and this was the sixth successive quarter of double-digit growth. Led by operating leverage, EBITDA margins touched 13 per cent for the first time." The momentum in our product business sustained and our innovations and growth investments helped the products grow in high teens, he said. In FY25, Eureka Forbes' profit increased by 72 per cent to Rs 164.41 crore from Rs 95.64 crore a year ago. Total income rose by 11.53 per cent to Rs 2,451.47 crore compared to the previous year. This is the "second full year of transformation with yet another quarter of double-digit growth and lifetime high profitability," said Pota. Eureka Forbes is now promoted by Lunolux, which is a special purpose vehicle established by AI Global Investments (Cyprus) PCC Ltd, which acts as the investment hub for Asia for all the funds managed by Advent International. Shapoorji Pallonji Group, the former promoter exited the company in 2022. Over outlook, Pota said: "Looking ahead, our focus will be on driving service revenue. Several transformation initiatives have been underway, and I am pleased to report that we are seeing green shoots in our service revenue. At the same time, we will stay the course on innovations, step up our growth investments further, and drive margin improvement." Shares of Eureka Forbes Ltd on Friday settled at Rs 594.85 on BSE, up 9.97 per cent from the previous close.
Economic Times
16-05-2025
- Business
- Economic Times
Eureka Forbes Q4 Results: Profit up twofold to Rs 49 crore, revenue up 10%
Health and hygiene products maker Eureka Forbes Ltd on Friday reported a twofold increase in its consolidated net profit to Rs 49.48 crore in the March quarter of 2024-25. The company had posted a net profit of Rs 21.38 crore in the January-March quarter a year ago, according to a regulatory filing by the firm now controlled by private equity firm Advent International. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Health and hygiene products maker Eureka Forbes Ltd on Friday reported a twofold increase in its consolidated net profit to Rs 49.48 crore in the March quarter of 2024-25. The company had posted a net profit of Rs 21.38 crore in the January-March quarter a year ago, according to a regulatory filing by the firm now controlled by private equity firm Advent revenue from operations was up 10.67 per cent to Rs 612.65 crore during the quarter under review. It was at Rs 553.56 crore in the corresponding Forbes' total expenses increased 7 per cent to Rs 551.75 crore in the March quarter. Total income, which includes other income, was up 11 at Rs 617.04 crore in the on the results, the company's MD and CEO Pratik Pota said: "In Q4, continuing business revenue grew by 10.9% YoY, and this was the sixth successive quarter of double-digit growth. Led by operating leverage, EBITDA margins touched 13 per cent for the first time."The momentum in our product business sustained and our innovations and growth investments helped the products grow in high teens, he FY25, Eureka Forbes' profit increased by 72 per cent to Rs 164.41 crore from Rs 95.64 crore a year ago. Total income rose by 11.53 per cent to Rs 2,451.47 crore compared to the previous is the "second full year of transformation with yet another quarter of double-digit growth and lifetime high profitability," said Forbes is now promoted by Lunolux, which is a special purpose vehicle established by AI Global Investments (Cyprus) PCC Ltd, which acts as the investment hub for Asia for all the funds managed by Advent International. Shapoorji Pallonji Group, the former promoter exited the company in outlook, Pota said: "Looking ahead, our focus will be on driving service revenue. Several transformation initiatives have been underway, and I am pleased to report that we are seeing green shoots in our service revenue. At the same time, we will stay the course on innovations, step up our growth investments further, and drive margin improvement." Shares of Eureka Forbes Ltd on Friday settled at Rs 594.85 on BSE, up 9.97 per cent from the previous close.
Time of India
16-05-2025
- Business
- Time of India
Eureka Forbes Q4 Results: Profit up twofold to Rs 49 crore, revenue up 10%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Health and hygiene products maker Eureka Forbes Ltd on Friday reported a twofold increase in its consolidated net profit to Rs 49.48 crore in the March quarter of 2024-25. The company had posted a net profit of Rs 21.38 crore in the January-March quarter a year ago, according to a regulatory filing by the firm now controlled by private equity firm Advent revenue from operations was up 10.67 per cent to Rs 612.65 crore during the quarter under review. It was at Rs 553.56 crore in the corresponding Forbes' total expenses increased 7 per cent to Rs 551.75 crore in the March quarter. Total income, which includes other income, was up 11 at Rs 617.04 crore in the on the results, the company's MD and CEO Pratik Pota said: "In Q4, continuing business revenue grew by 10.9% YoY, and this was the sixth successive quarter of double-digit growth. Led by operating leverage, EBITDA margins touched 13 per cent for the first time."The momentum in our product business sustained and our innovations and growth investments helped the products grow in high teens, he FY25, Eureka Forbes' profit increased by 72 per cent to Rs 164.41 crore from Rs 95.64 crore a year ago. Total income rose by 11.53 per cent to Rs 2,451.47 crore compared to the previous is the "second full year of transformation with yet another quarter of double-digit growth and lifetime high profitability," said Forbes is now promoted by Lunolux, which is a special purpose vehicle established by AI Global Investments (Cyprus) PCC Ltd, which acts as the investment hub for Asia for all the funds managed by Advent International. Shapoorji Pallonji Group, the former promoter exited the company in outlook, Pota said: "Looking ahead, our focus will be on driving service revenue. Several transformation initiatives have been underway, and I am pleased to report that we are seeing green shoots in our service revenue. At the same time, we will stay the course on innovations, step up our growth investments further, and drive margin improvement." Shares of Eureka Forbes Ltd on Friday settled at Rs 594.85 on BSE, up 9.97 per cent from the previous close.
Fashion Value Chain
14-05-2025
- Business
- Fashion Value Chain
Shraddha Kapoor Joins Eureka Forbes to Promote Smart Home Hygiene
Eureka Forbes Ltd, a leader in India's health and hygiene sector, has announced Shraddha Kapoor as the new face of its vacuum cleaner range. The collaboration marks a key step in the brand's ongoing mission to promote cleaner, healthier homes with next-gen home cleaning technology. With a four-decade legacy and unmatched reach, Eureka Forbes is aiming to connect more deeply with modern, urban households through this partnership. At the core of this push is the Forbes SmartClean Robotic Vacuum Cleaner, featuring powerful suction, wet mopping capabilities, AI integration, and LiDAR technology for intelligent navigation and seamless cleaning. 'A clean home is the foundation of a healthy mind and body,' said Shraddha Kapoor. 'With Eureka Forbes' SmartClean Robotics, we're blending innovation with lifestyle.' Echoing this vision, Anurag Kumar, Chief Growth Officer, stated that Shraddha represents a generation focused on mindful living and smart choices, making her the ideal ambassador as the brand evolves toward smarter hygiene solutions. From robotic vacuums to advanced deep-cleaning models, Eureka Forbes continues to shape the future of home hygiene in India, now with a renewed focus on tech-enabled convenience and lifestyle integration.
