FEL

Future Enterprises financials

Market cap
₹25 Cr
Sector
Consumer Services

What Future Enterprises Limited does

Future Enterprises designs, sources and manufactures apparel across price points and categories (formal, casual, western-ethnic, menswear, kidswear, womenswear), supplying its own garment-making units and third-party vendors as well as fashion retail formats such as FBB, Central and Brand Factory. It also builds and sells FMCG brands (packaged foods, personal care, home care) manufactured through an integrated food-processing park and partner facilities, sourcing agricultural raw material pan-India. Separately, it holds joint-venture stakes in Future Generali India Life Insurance and Future Generali India General Insurance, run in partnership with Italy's Generali group.

Segments

  • Fashion Sourcing & Merchandising
  • FMCG
  • Insurance JVs
  • Other Assets
Garment sourcing volume
100mn+ garments/year across categories
Own/JV garment manufacturing
7mn+ garments/year across Tarapur, Bengaluru and NTC JV (Mumbai) units
Apparel manufacturing locations
Mumbai, Tarapur (Maharashtra), Gujarat, Bengaluru
Integrated Food Park (Tumkur, Karnataka)
110 acres, 15+ operational processing units (ISO 22000 certified)
Agri-sourcing capacity
1.5 lac tonnes, with APMC licenses in 26 states
FMCG/fashion distribution network
1,650+ retail stores (Big Bazaar, Easy Day, Central, Brand Factory, Nilgiris)
Founded 1987Headquarters Mumbai, Maharashtra Company website

Quarterly results

Q4 FY23: revenue down 97.5%, net profit up 5.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ1 FY22Q2 FY22Q3 FY22Q4 FY22Q1 FY23Q2 FY23Q3 FY23Q4 FY23
Revenue290 514 388 322 62 −79%24 −95%11 −97%8 −98%
EBITDA31 22 19 -350 -15 −148%-8 −136%-8 −142%-1,334 −281%
Net profit-276 -259 -280 -1,510 935 +439%-98 +62%-94 +66%-1,422 +6%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −39.3% 1Y

₹0.40₹0.50₹0.60Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹0.61 on 10 Sept 2025 → ₹0.37. High ₹0.64 (15 Sept 2025), low ₹0.35 (14 Nov 2025).

Financials, as filed

Revenue fell 72.3% a year over 3 years, FY20 to FY23. Operating margin narrowed to -1300.0%.

Year endingFY20FY21FY22FY23
Revenue₹4.9k Cr₹887 Cr₹1.5k Cr₹105 Cr
Operating profit₹1.3k Cr₹124 Cr₹-278 Cr₹-1.4k Cr
Operating margin25.8%14.0%-18.4%-1300.0%
Interest₹684 Cr₹718 Cr₹682 Cr₹14 Cr
Depreciation₹966 Cr₹609 Cr₹524 Cr₹344 Cr
Net profit₹-270 Cr₹-1.1k Cr₹-2.3k Cr₹-679 Cr
Net margin-5.5%-118.5%-153.6%-646.7%
Cash from operations₹2.8k Cr₹-3.4k Cr₹232 Cr—
Free cash flow₹1.4k Cr₹124 Cr₹223 Cr—
ROCE3.0%-5.0%-10.0%-11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY17FY18FY19FY20FY21FY22
Equity capital₹95 Cr₹99 Cr₹99 Cr₹99 Cr₹99 Cr₹99 Cr
Reserves₹3.7k Cr₹3.8k Cr₹3.9k Cr₹3.5k Cr₹2.5k Cr₹152 Cr
Borrowings₹5.1k Cr₹5.7k Cr₹6.4k Cr₹5.9k Cr₹6.3k Cr₹7.0k Cr
Other liabilities₹1.3k Cr₹1.3k Cr₹1.7k Cr₹4.2k Cr₹1.3k Cr₹742 Cr
Total liabilities₹10.2k Cr₹10.9k Cr₹12.1k Cr₹13.8k Cr₹10.2k Cr₹8.0k Cr
Fixed assets₹5.8k Cr₹6.4k Cr₹7.0k Cr₹7.5k Cr₹4.0k Cr₹3.5k Cr
Capital work in progress₹386 Cr₹583 Cr₹522 Cr₹624 Cr₹92 Cr₹0 Cr
Investments₹1.4k Cr₹1.1k Cr₹1.2k Cr₹1.3k Cr₹1.2k Cr₹1.0k Cr
Other assets₹2.6k Cr₹2.8k Cr₹3.4k Cr₹4.4k Cr₹4.9k Cr₹3.5k Cr
Total assets₹10.2k Cr₹10.9k Cr₹12.1k Cr₹13.8k Cr₹10.2k Cr₹8.0k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Mar 2023

Since Mar 2022, the public added +0.82 pp while promoters trimmed −0.66 pp. The shareholder count grew 14% to 1,39,941.

Promoters
16.4%
FIIs
0.0%
DIIs
0.6%
Public
83.0%

Since Mar 2022

  • Public +0.82 pp
  • Promoters −0.66 pp
  • FIIs −0.17 pp

How it drifted, 12 quarters

Over this window the public went from 46.1% to 83.0% — +37.0 pp.

Jun '20Sep '21Mar '23

Ownership split by quarter, oldest first. Jun '20: Promoters 50.1%, FIIs 1.2%, DIIs 2.7%, Public 46.1%.Sep '20: Promoters 43.3%, FIIs 0.5%, DIIs 6.5%, Public 49.8%.Dec '20: Promoters 37.1%, FIIs 0.2%, DIIs 6.0%, Public 56.8%.Mar '21: Promoters 20.6%, FIIs 0.2%, DIIs 6.0%, Public 73.3%.Jun '21: Promoters 20.6%, FIIs 0.2%, DIIs 6.0%, Public 73.3%.Sep '21: Promoters 20.6%, FIIs 0.2%, DIIs 5.3%, Public 74.0%.Dec '21: Promoters 18.9%, FIIs 0.2%, DIIs 5.0%, Public 76.0%.Mar '22: Promoters 17.0%, FIIs 0.2%, DIIs 0.6%, Public 82.2%.Jun '22: Promoters 16.4%, FIIs 0.0%, DIIs 0.6%, Public 83.0%.Sep '22: Promoters 16.4%, FIIs 0.0%, DIIs 0.6%, Public 83.0%.Dec '22: Promoters 16.4%, FIIs 0.0%, DIIs 0.6%, Public 83.0%.Mar '23: Promoters 16.4%, FIIs 0.0%, DIIs 0.6%, Public 83.0%.

Who was buying across the market this quarter →

Who is on the register

Named in the Mar 2023 filing

Every holder of Future Enterprises Limited above SEBI's 1% disclosure line, and what changed since Dec 2022.

HolderStakeChange
Bennett, Coleman And Company Limited 18.44%unchanged
Central Departmental Stores Pvt Ltd 10.24%unchanged
Future Corporate Resources Pvt Ltd 6.12%unchanged
Roop Singh Rathore 1.67%unchanged
Surplus Finvest Private Limited 0.02%unchanged
Gopikishan Biyani 0.00%unchanged
Kishore Biyani 0.00%unchanged
Rakesh Biyani 0.00%unchanged
Sunil Biyani 0.00%unchanged
Vijay Biyani 0.00%unchanged
Vivek Biyani 0.00%unchanged
Future Capital Investment Private Limited 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse Future Enterprises Limited

Guides on how to read this kind of business and the numbers that matter.