PBT before exceptional items soared 120.9% YoY to Rs 35 crore in Q4 FY23. An exceptional loss of Rs 9.1 core during the quarter was on account of phasing out of certain non-moving models and product including its raw material and components, due to change in economic conditions and technological obsolescence.

EBITDA grew 35.6% YoY to Rs 47.4 crore while EBITDA margin improved by 300 basis points YoY to 9.3% during the period under review.

For the FY22-23, the company's net profit slipped 35% to Rs 17.1 crore despite of 2.2% rise in revenue to Rs 2,080.4 crore in FY23 over FY22.

Pratik Pota, MD and CEO of Eureka Forbes said, “Faced with an ongoing soft demand environment, we continued to move ahead on our strategic priorities in Q4 FY23 and on improving the financial health of the business. We launched a new advertising campaign in Q4 targeted at non-users of the category, and we also introduced several key innovations in the market.

Execution of specific transformation initiatives helped improve our EBITDA margin to 9.3%, up by 300bps YoY and by 61bps sequentially. This combined with a 72% YoY reduction in our net debt will allow us the headroom to invest for growth. Looking ahead to the future, we are confident of driving sustained performance on the back of differentiated innovations, an elevated customer experience & a more efficient business model.”

Eureka Forbes is a multi-product and an omni-channel organization. Eureka Forbes' product portfolio encompasses water purification, vacuum cleaning & air purification. It has direct, retail, e-commerce and institutional sales channels, an inventive business partner network and one of the most expansive service networks across India.