FORBESCO
Forbes & Company financials
- Market cap
- ₹428 Cr
Quarterly results
Q1 FY27: revenue down 40.9%, net profit down 25.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35 | 40 | 89 | 22 | 19 −46% | 18 −56% | 17 −81% | 13 −41% |
| EBITDA | 4 | 3 | 12 | 1 | 3 −32% | 3 −13% | -1 −107% | 1 −3% |
| Net profit | 5 | 10 | 103 | 5 | 6 +23% | 4 −56% | -2 −102% | 4 −26% |
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 −24.2% 1Y
1Y: ₹419.1 on 10 Sept 2025 → ₹317.85. High ₹448.8 (27 Jan 2026), low ₹245 (31 Jul 2026).
Financials, as filed
Revenue fell 22.2% a year over 2 years, FY24 to FY26. Operating margin widened to 8.2%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹126 Cr | ₹199 Cr | ₹76 Cr |
| Operating profit | ₹2 Cr | ₹24 Cr | ₹6 Cr |
| Operating margin | 1.7% | 12.1% | 8.2% |
| Interest | ₹2 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹2 Cr | ₹2 Cr | ₹3 Cr |
| Net profit | ₹-5 Cr | ₹123 Cr | ₹13 Cr |
| Net margin | -3.7% | 61.6% | 17.6% |
| Cash from operations | ₹-20 Cr | ₹-11 Cr | ₹-6 Cr |
| Free cash flow | ₹-2 Cr | ₹-3 Cr | ₹-2 Cr |
| ROCE | 5.0% | 16.0% | 5.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹-154 Cr | ₹73 Cr | ₹212 Cr | ₹127 Cr | ₹217 Cr | ₹186 Cr |
| Borrowings | ₹523 Cr | ₹288 Cr | ₹9 Cr | ₹5 Cr | ₹6 Cr | ₹6 Cr |
| Other liabilities | ₹1.7k Cr | ₹415 Cr | ₹467 Cr | ₹275 Cr | ₹65 Cr | ₹46 Cr |
| Total liabilities | ₹2.0k Cr | ₹789 Cr | ₹701 Cr | ₹421 Cr | ₹302 Cr | ₹251 Cr |
| Fixed assets | ₹598 Cr | ₹158 Cr | ₹29 Cr | ₹27 Cr | ₹27 Cr | ₹27 Cr |
| Capital work in progress | ₹4 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹60 Cr | ₹117 Cr | ₹145 Cr | ₹171 Cr | ₹208 Cr | ₹164 Cr |
| Other assets | ₹1.4k Cr | ₹513 Cr | ₹527 Cr | ₹223 Cr | ₹66 Cr | ₹60 Cr |
| Total assets | ₹2.0k Cr | ₹789 Cr | ₹701 Cr | ₹421 Cr | ₹302 Cr | ₹251 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 Jun 2026
Since Jun 2025, the government trimmed −0.24 pp while DIIs added +0.17 pp. The shareholder count shrank 7% to 12,090.
- Promoters
- 73.8%
- FIIs
- 8.2%
- DIIs
- 0.4%
- Government
- 0.6%
- Public
- 16.9%
Since Jun 2025
- Government −0.24 pp
- DIIs +0.17 pp
- Public +0.05 pp
How it drifted, 12 quarters
Over this window FIIs fell from 11.5% to 8.2% — −3.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.8%, FIIs 11.5%, DIIs 0.1%, Government 0.9%, Public 13.7%.Dec '23: Promoters 73.8%, FIIs 11.6%, DIIs 0.1%, Government 0.9%, Public 13.6%.Mar '24: Promoters 73.8%, FIIs 11.6%, DIIs 0.1%, Government 0.9%, Public 13.6%.Jun '24: Promoters 73.8%, FIIs 11.5%, DIIs 0.1%, Government 0.9%, Public 13.7%.Sep '24: Promoters 73.8%, FIIs 11.3%, DIIs 0.1%, Government 0.9%, Public 13.9%.Dec '24: Promoters 73.8%, FIIs 10.2%, DIIs 0.1%, Government 0.9%, Public 15.0%.Mar '25: Promoters 73.8%, FIIs 8.2%, DIIs 0.2%, Government 0.9%, Public 16.9%.Jun '25: Promoters 73.8%, FIIs 8.2%, DIIs 0.2%, Government 0.9%, Public 16.9%.Sep '25: Promoters 73.8%, FIIs 8.2%, DIIs 0.2%, Government 0.9%, Public 16.9%.Dec '25: Promoters 73.8%, FIIs 8.2%, DIIs 0.2%, Government 0.9%, Public 16.9%.Mar '26: Promoters 73.8%, FIIs 8.2%, DIIs 0.1%, Government 0.9%, Public 16.9%.Jun '26: Promoters 73.8%, FIIs 8.2%, DIIs 0.4%, Government 0.6%, Public 16.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Forbes & Company Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Shapoorji Pallonji And Company Private Limited | 72.56% | unchanged |
| Elysian Wealth Fund FPI fund | 4.95% | unchanged |
| Antara India Evergreen Fund Ltd FPI fund | 3.26% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.45% | unchanged |
| Forbes Campbell Finance Limited | 1.29% | unchanged |
| Rihand Floating Solar Private Limited | 0.00% | unchanged |
| S C Finance and Investments Private Limited | 0.00% | unchanged |
| S C Motors Private Limited | 0.00% | unchanged |
| S P Architectural Coatings Private Limited | 0.00% | unchanged |
| S P Fabricators Private Limited | 0.00% | unchanged |
| S. C. Impex Private Limited | 0.00% | unchanged |
| S.P. Engineering Services Pte. Ltd. | 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 Forbes & Company Ltd
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