Forbes & Co

  • Market Cap: Micro Cap
  • Industry: Electronics & Appliances
  • ISIN: INE518A01013
  • NSEID:
  • BSEID: 502865
INR
374.05
-13.1 (-3.38%)
BSENSE

Feb 09

BSE+NSE Vol: 3.79 k

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

3.79 k (168.58%) Volume

Shareholding (Dec 2025)

FII

8.24%

Held by 6 FIIs

DII

1.04%

Held by 0 DIIs

Promoter

73.85%

how big is Forbes & Co?

06-Jun-2025

As of Jun 06, Forbes & Company Ltd has a market capitalization of 495.37 Cr, classifying it as a Micro Cap company, with recent net sales of 199.36 Cr and net profit of 122.76 Cr for the latest four quarters. Shareholder's funds are 140.28 Cr, and total assets amount to 405.99 Cr as of Mar'24.

Market Cap: As of Jun 06, Forbes & Company Ltd has a market capitalization of 495.37 Cr, which classifies it as a Micro Cap company.<BR><BR>Recent Quarterly Performance: For the latest four quarters, the sum of Net Sales is 199.36 Cr and the sum of Net Profit is 122.76 Cr. This data is Consolidated.<BR><BR>Balance Sheet Snapshot: This is Consolidated data for the latest annual period ending in Mar'24. Shareholder's Funds are reported at 140.28 Cr, and Total Assets amount to 405.99 Cr.

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Who are in the management team of Forbes & Co?

06-Jun-2025

As of March 2023, the management team of Forbes & Co includes Shapoor P Mistry (Chairman), Mahesh Tahilyani (Managing Director), and several independent directors: D Sivanandhan, Rani Ajit Jadhav, and Nikhil Bhatia, along with Rupa Khanna as Company Secretary. Each member contributes to the company's governance and operations.

As of March 2023, the management team of Forbes & Co includes the following members:<BR><BR>1. Shapoor P Mistry - Chairman (Non-Executive)<BR>2. D Sivanandhan - Independent Director<BR>3. Jai Laxmikant Mavani - Director<BR>4. Mahesh Tahilyani - Managing Director<BR>5. Rani Ajit Jadhav - Independent Director<BR>6. Nikhil Bhatia - Independent Director<BR>7. Rupa Khanna - Company Secretary & Compliance Officer<BR><BR>Each member plays a crucial role in the governance and operational oversight of the company.

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When is the next results date for Forbes & Co?

06-Jun-2025

No Upcoming Board Meetings

Has Forbes & Co declared dividend?

06-Jun-2025

Forbes & Company Ltd has declared a 650% dividend, amounting to 65 per share, with an ex-date of August 24, 2022. Despite this declaration, the dividend yield is 0%, and total returns have varied significantly over different periods, showing strong growth over the long term.

Forbes & Company Ltd has declared a 650% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 650%<BR>- Amount per share: 65<BR>- Ex-date: 24 Aug 22<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -13.18%, the dividend return was 0%, resulting in a total return of -13.18%.<BR><BR>Over the past year, the price return was -36.1%, with a dividend return of 0%, leading to a total return of -36.1%.<BR><BR>In the 2-year period, the price return was 68.28%, the dividend return remained at 0%, culminating in a total return of 68.28%.<BR><BR>For the 3-year period, the price return was 170.13%, the dividend return was 42.68%, resulting in a total return of 212.81%.<BR><BR>In the last 4 years, the price return was 603.54%, the dividend return was 96.65%, leading to a total return of 700.19%.<BR><BR>Over the past 5 years, the price return was 1303.34%, with a dividend return of 212.70%, resulting in a total return of 1516.04%.<BR><BR>Overall, while Forbes & Company Ltd has declared a significant dividend, the dividend yield remains at 0%. The total returns show a strong performance over longer periods, particularly in the last 4 and 5 years, indicating substantial growth despite recent declines in shorter time frames.

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Who are the peers of the Forbes & Co?

03-Jun-2025

Peers of Forbes & Co include Havells India, Dixon Technologies, Voltas, Blue Star, Crompton Greaves Consumer, Singer India, CWD, BPL, and MIRC Electronics. Forbes & Co has below-average growth and the lowest 1-year return among its peers at -38.71%.

Peers: The peers of Forbes & Co are Havells India, Dixon Technolog., Voltas, Blue Star, Crompton Gr. Con, Singer India, CWD, BPL, MIRC Electronics.<BR><BR>Quality Snapshot: Excellent management risk is observed at Dixon Technolog. and Crompton Gr. Con, while Good management risk is found at Havells India, Blue Star, and the rest. Average management risk is present at Voltas, Forbes & Co, Singer India, CWD, BPL, and the rest. Below Average management risk is seen at MIRC Electronics and Parin Enterpris. Growth is Excellent at Dixon Technolog., CWD, and Blue Star, while Average growth is found at Voltas, BPL, and the rest. Below Average growth is observed at Forbes & Co, Singer India, and MIRC Electronics.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Dixon Technolog. at 46.75%, while the lowest is Forbes & Co at -38.71%, which indicates a significantly poorer performance compared to its peers. Additionally, MIRC Electronics and Parin Enterpris. have negative six-month returns.

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What does Forbes & Co do?

17-Jul-2025

Forbes & Company Ltd is a micro-cap firm in the Electronics & Appliances sector, with a diversified portfolio including Engineering, Industrial Automation, and Real Estate. As of March 2025, it reported net sales of 887 Cr and a net profit of 1,028 Cr, with a market cap of INR 570 Cr.

Overview:<BR>Forbes & Company Ltd operates in the Electronics & Appliances industry as a micro-cap company with a diversified portfolio that includes Engineering, Industrial Automation, Consumer Durables, Chemical Tankers, and Real Estate.<BR><BR>History:<BR>Forbes & Company Ltd, formerly known as Forbes Gokak Ltd, is one of the oldest companies still in existence. The latest quarterly results reported are for March 2025, showing net sales and profit figures.<BR><BR>Financial Snapshot:<BR>Most recent Net Sales: 887 Cr (Quarterly Results - Mar 2025) <BR>Most recent Net Profit: 1,028 Cr (Quarterly Results - Mar 2025) <BR>Market-cap value: INR 570 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: 9.00 <BR>Industry P/E: 38 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: -0.26 <BR>Return on Equity: 30.76% <BR>Price-to-Book: 2.56 <BR><BR>Contact Details:<BR>Address: Forbes Building, Charanjit Rai Marg Fort Mumbai Maharashtra : 400001 <BR>Phone: 91-22-61358900 <BR>Email: investor.relations@forbes.co.in <BR>Website: http://www.forbes.co.in

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Who are the top shareholders of the Forbes & Co?

17-Jul-2025

The top shareholders of Forbes & Co include Shapoorji Pallonji And Company Private Limited with 72.56%, seven foreign institutional investors holding 8.24%, and Elysian Wealth Fund as the largest public shareholder at 4.95%, while individual investors collectively own 13.04%.

The top shareholders of Forbes & Co include the promoters, who hold a significant majority of the shares. The largest promoter is Shapoorji Pallonji And Company Private Limited, with a holding of 72.56%. Additionally, there are seven foreign institutional investors (FIIs) that collectively hold 8.24% of the shares. The highest public shareholder is Elysian Wealth Fund, which holds 4.95%. Individual investors also have a stake, representing 13.04% of the total holdings.

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Is Forbes & Co technically bullish or bearish?

19-Sep-2025

As of September 18, 2025, Forbes & Co is in a mildly bearish trend, indicated by bearish signals from the MACD, Bollinger Bands, and KST across weekly and monthly time frames, despite some daily moving averages showing mild bullishness.

As of 18 September 2025, the technical trend for Forbes & Co has changed from sideways to mildly bearish. The current technical stance is mildly bearish, driven by several key indicators. The MACD is showing a mildly bearish signal on both the weekly and monthly time frames. Bollinger Bands are also indicating a bearish trend on both weekly and monthly charts. The KST aligns with this view, being mildly bearish on the weekly and monthly time frames. Although the daily moving averages are mildly bullish, they are not strong enough to counter the overall bearish sentiment reflected in the other indicators. The Dow Theory supports a mildly bearish stance on the weekly chart, while the monthly shows no trend. Overall, the combination of these indicators suggests a cautious outlook for Forbes & Co in the near term.

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How has been the historical performance of Forbes & Co?

09-Nov-2025

Forbes & Co has experienced significant declines in net sales and profitability, with net sales dropping from 2,856.79 Cr in Mar'21 to 199.36 Cr in Mar'25, and operating profit falling from 269.35 Cr to 43.17 Cr in the same period, reflecting ongoing financial challenges. Total liabilities and assets also decreased substantially, and cash flow from operations turned negative in Mar'25.

Answer:<BR>The historical performance of Forbes & Co shows significant fluctuations in key financial metrics over the years.<BR><BR>Breakdown:<BR>Forbes & Co's net sales have seen a dramatic decline from 2,856.79 Cr in Mar'21 to 199.36 Cr in Mar'25, with a notable drop in Mar'23 to 252.12 Cr. Total operating income followed a similar trend, decreasing from 2,856.79 Cr in Mar'21 to 199.36 Cr in Mar'25. The company faced substantial operating losses, with operating profit (PBDIT) dropping to 43.17 Cr in Mar'25 from a high of 269.35 Cr in Mar'21. Profit before tax also fluctuated significantly, reaching a peak of 205.34 Cr in Mar'23 before falling to 40.56 Cr in Mar'25. The profit after tax mirrored this trend, with a decrease from 196.22 Cr in Mar'23 to 29.25 Cr in Mar'25. The company's total liabilities decreased from 2,669.95 Cr in Mar'20 to 301.47 Cr in Mar'25, while total assets also declined from 2,669.95 Cr to 301.47 Cr over the same period. Cash flow from operating activities turned negative in Mar'25 at -11.00 Cr, reflecting ongoing challenges in generating cash from core operations. Overall, Forbes & Co's financial performance indicates a significant contraction in both revenue and profitability over the past few years.

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Is Forbes & Co overvalued or undervalued?

05-Dec-2025

As of December 4, 2025, Forbes & Co is fairly valued with a PE ratio of 6.59 and has underperformed with a 25.97% decline year-to-date, despite strong operational efficiency indicated by a 29.61% ROE and 11.95% ROCE.

As of 4 December 2025, Forbes & Co has moved from an attractive to a fair valuation grade. The company is currently fairly valued, with a PE ratio of 6.59, an EV to EBITDA of 17.64, and a PEG ratio of 0.03. In comparison to its peers, Thermax is considered expensive with a PE ratio of 57.65, while BEML Ltd also appears expensive with a PE of 49.7, highlighting Forbes & Co's relative valuation attractiveness within its industry.<BR><BR>Despite the fair valuation, Forbes & Co has experienced a year-to-date decline of 25.97%, contrasting with the Sensex's gain of 9.12% over the same period. This underperformance may suggest potential headwinds for the company, but its solid ROE of 29.61% and ROCE of 11.95% indicate operational efficiency that could support future growth.

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Are Forbes & Company Ltd latest results good or bad?

31-Jan-2026

Forbes & Company Ltd's latest results are concerning, showing a 55.75% decline in net sales and a 55.89% drop in net profit year-on-year, indicating significant operational challenges and a negative financial trend. Overall, the results are classified as bad, with no clear signs of recovery.

Forbes & Company Ltd's latest results are concerning, indicating a significant decline in performance. In the quarter ending December 2025, the company reported net sales of ₹17.80 crores, which marks a staggering 55.75% decrease year-on-year and is the lowest quarterly revenue in recent history. Additionally, consolidated net profit fell to ₹4.19 crores, down 55.89% year-on-year and 33.81% from the previous quarter.<BR><BR>While the operating margin, excluding other income, improved slightly to 16.97% from 15.35% in the previous quarter, it still represents a decline from 23.61% in the same quarter last year. The company's heavy reliance on non-operating income, which constituted over 42% of profit before tax, raises serious questions about the sustainability of its earnings.<BR><BR>Overall, the results reflect a company struggling with severe revenue pressures and operational challenges, leading to a "Negative" financial trend classification. Given these factors, the results can be characterized as bad, with no clear signs of recovery in the near term.

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Should I buy, sell or hold Forbes & Company Ltd?

31-Jan-2026

Why is Forbes & Company Ltd falling/rising?

08-Feb-2026

As of 08-Feb, Forbes & Company Ltd's stock price is rising to 391.00, reflecting a 3.48% increase due to a trend reversal and strong performance compared to its sector. The stock is trading above key moving averages, indicating bullish momentum despite a decrease in delivery volume.

As of 08-Feb, Forbes & Company Ltd's stock price is rising, currently at 391.00, reflecting a change of 13.15 (3.48%) upward. This increase can be attributed to several factors. Firstly, the stock has shown a trend reversal, gaining after two consecutive days of decline, indicating a potential recovery in investor sentiment. Additionally, the stock has outperformed its sector by 4.44%, suggesting that it is performing better than its peers in the market.<BR><BR>Moreover, Forbes & Company Ltd is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, which is typically a bullish sign indicating strong momentum. The stock also reached an intraday high of Rs 392, further demonstrating positive price movement.<BR><BR>Despite a decrease in delivery volume by 23.24% against the 5-day average, the stock remains liquid enough for trading, which may help sustain its upward trajectory. Overall, the combination of positive performance metrics and a recent trend reversal contributes to the rising stock price of Forbes & Company Ltd.

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iScoreScore
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Strong Sell
Sell
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Strong Buy

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Dashboard

1

Low ability to service debt as the company has a high Debt to EBITDA ratio of 3.57 times

  • Low ability to service debt as the company has a high Debt to EBITDA ratio of 3.57 times
2

Poor long term growth as Net Sales has grown by an annual rate of -42.80% over the last 5 years

 
3

Negative results in Dec 25

4

With ROE of 29.6, it has a Expensive valuation with a 2.2 Price to Book Value

5

98.25% of Promoter Shares are Pledged

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Electronics & Appliances

stock-summary
Market cap

INR 482 Cr (Micro Cap)

stock-summary
P/E

8.00

stock-summary
Industry P/E

28

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

-0.28

stock-summary
Return on Equity

29.61%

stock-summary
Price to Book

2.19

Revenue and Profits:
Net Sales:
18 Cr
(Quarterly Results - Dec 2025)
Net Profit:
4 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-0.09%
0%
-0.09%
6 Months
-9.6%
0%
-9.6%
1 Year
6.26%
0%
6.26%
2 Years
12.13%
0%
12.13%
3 Years
49.53%
0%
49.53%
4 Years
119.13%
40.42%
159.55%
5 Years
817.77%
151.16%
968.93%

Latest dividend: 65 per share ex-dividend date: Aug-24-2022

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Announcements stock-summary

Unaudited Standalone And Consolidated Financial Results For The Quarter And Nine Months Period Ended December 31 2025.

30-Jan-2026 | Source : BSE

Unaudited Standalone and Consolidated Financial Results for the Quarter and Nine Months ended December 31 2025

Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)

30-Jan-2026 | Source : BSE

Resignation of Mr. Pavan Somani from the position of Interim Chief Financial Officer of the company w.e.f. closure of business hours of April 07 2026

Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer

30-Jan-2026 | Source : BSE

Resignation of Mr. Pritesh Jhaveri from the position of Company Secretary and Compliance Officer of the Company w.e.f. closure of business hours of February 20 2026

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Forbes & Company Ltd has declared 650% dividend, ex-date: 24 Aug 22

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
-42.80%
EBIT Growth (5y)
17.55%
EBIT to Interest (avg)
4.11
Debt to EBITDA (avg)
3.44
Net Debt to Equity (avg)
-0.28
Sales to Capital Employed (avg)
2.81
Tax Ratio
28.38%
Dividend Payout Ratio
0
Pledged Shares
98.25%
Institutional Holding
9.28%
ROCE (avg)
8.27%
ROE (avg)
555.68%

Valuation key factors

Factor
Value
P/E Ratio
8
Industry P/E
28
Price to Book Value
2.19
EV to EBIT
22.83
EV to EBITDA
20.63
EV to Capital Employed
2.65
EV to Sales
2.98
PEG Ratio
0.06
Dividend Yield
NA
ROCE (Latest)
11.95%
ROE (Latest)
29.61%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Bearish
RSI
Bearish
No Signal
Bollinger Bands
Mildly Bullish
Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Bearish
Dow Theory
Mildly Bullish
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Dec 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

98.2532

Mutual Funds

Held by 1 Schemes (0.0%)

FIIs

Held by 6 FIIs (8.24%)

Promoter with highest holding

Shapoorji Pallonji And Company Private Limited (72.56%)

Highest Public shareholder

Elysian Wealth Fund (4.95%)

Individual Investors Holdings

13.05%

stock-summaryFinancial
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Quarterly Results Snapshot (Consolidated) - Dec'25 - QoQstock-summary

Dec'25
Sep'25
Change(%)
Net Sales
17.80
18.70
-4.81%
Operating Profit (PBDIT) excl Other Income
3.02
2.87
5.23%
Interest
0.16
0.15
6.67%
Exceptional Items
0.00
0.00
Consolidate Net Profit
4.19
6.33
-33.81%
Operating Profit Margin (Excl OI)
16.97%
15.35%
1.62%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Dec 2025 is -4.81% vs -16.70% in Sep 2025

Direction Arrows
Consolidated Net Profit

QoQ Growth in quarter ended Dec 2025 is -33.81% vs 30.25% in Sep 2025

Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
41.15
70.45
-41.59%
Operating Profit (PBDIT) excl Other Income
4.02
9.00
-55.33%
Interest
0.31
0.43
-27.91%
Exceptional Items
0.00
-0.24
100.00%
Consolidate Net Profit
11.19
10.42
7.39%
Operating Profit Margin (Excl OI)
9.77%
12.78%
-3.01%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is -41.59% vs 161.60% in Sep 2024

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is 7.39% vs 188.46% in Sep 2024

Nine Monthly Results Snapshot (Consolidated) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
58.95
110.68
-46.74%
Operating Profit (PBDIT) excl Other Income
7.04
12.48
-43.59%
Interest
0.47
0.64
-26.56%
Exceptional Items
0.00
-0.24
100.00%
Consolidate Net Profit
15.38
19.92
-22.79%
Operating Profit Margin (Excl OI)
11.94%
11.28%
0.66%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is -46.74% vs 185.11% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in nine months ended Dec 2025 is -22.79% vs 353.76% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'25stock-summary

Mar'25
Mar'24
Change(%)
Net Sales
199.36
125.90
58.35%
Operating Profit (PBDIT) excl Other Income
26.80
4.52
492.92%
Interest
0.77
1.60
-51.88%
Exceptional Items
94.97
-26.39
459.87%
Consolidate Net Profit
122.76
-4.46
2,852.47%
Operating Profit Margin (Excl OI)
13.44%
3.59%
9.85%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is 58.35% vs -50.06% in Mar 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2025 is 2,852.47% vs -102.32% in Mar 2024

stock-summaryCompany CV
About Forbes & Company Ltd stock-summary
stock-summary
Forbes & Company Ltd
Micro Cap
Electronics & Appliances
Forbes & Company Ltd, formerly known as Forbes Gokak Ltd, is one of the oldest companies of the world that is still in existence. The company operates with a diversified portfolio comprising Engineering, Industrial Automation, Consumer Durables (Water and Air Products), Chemical Tankers and Real Estate. Forbes & Company is part of the Shapoorji Pallonji Group. Its parent and ultimate holding company is Shapoorji Pallonji and Company Private Limited.
Company Coordinates stock-summary
Company Details
Forbes Building, Charanjit Rai Marg Fort Mumbai Maharashtra : 400001
stock-summary
Tel: 91-22-61358900
stock-summary
investor.relations@forbes.co.in
Registrar Details
TSR Darashaw Ltd, 6-10 , Haji Moosa Patrawala Indl. Est , 20 Dr.E.Moses Road , Mahalaxmi , Mumbai