Foce India Ltd
Incorporated in 2001, Foce India Ltd trades in wristwatches and Men’s accessories[1]
- Market Cap ₹ 829 Cr.
- Current Price ₹ 1,695
- High / Low ₹ 2,004 / 1,226
- Stock P/E 572
- Book Value ₹ 76.1
- Dividend Yield 0.00 %
- ROCE 2.09 %
- ROE 2.73 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 22.3 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -8.03% over past five years.
- Company has a low return on equity of 1.53% over last 3 years.
- Company might be capitalizing the interest cost
- Company has high debtors of 150 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 28.13 | 4.99 | 21.68 | 62.08 | 54.44 | 76.90 | 148.98 | 14.50 | 16.53 | 35.82 | 47.56 | |
| 27.73 | 4.93 | 20.63 | 59.82 | 52.24 | 74.21 | 143.97 | 13.80 | 15.26 | 34.34 | 44.92 | |
| Operating Profit | 0.40 | 0.06 | 1.05 | 2.26 | 2.20 | 2.69 | 5.01 | 0.70 | 1.27 | 1.48 | 2.64 |
| OPM % | 1.42% | 1.20% | 4.84% | 3.64% | 4.04% | 3.50% | 3.36% | 4.83% | 7.68% | 4.13% | 5.55% |
| 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.15 | 0.07 | 0.00 | 0.05 | 0.04 | |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.43 | 0.59 | 0.20 | 0.12 |
| Depreciation | 0.01 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 | 0.06 | 0.03 | 0.03 | 0.67 |
| Profit before tax | 0.39 | 0.02 | 1.02 | 2.24 | 2.18 | 2.67 | 5.13 | 0.28 | 0.65 | 1.30 | 1.89 |
| Tax % | 35.90% | 150.00% | 28.43% | 29.46% | 26.61% | 25.47% | 24.76% | 35.71% | 24.62% | 25.38% | |
| 0.25 | 0.00 | 0.73 | 1.58 | 1.61 | 1.99 | 3.85 | 0.18 | 0.49 | 0.98 | 1.45 | |
| EPS in Rs | 1.20 | 0.00 | 2.38 | 5.14 | 4.03 | 4.98 | 7.87 | 0.37 | 1.00 | 2.00 | 2.97 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -8% |
| 3 Years: | -38% |
| TTM: | 135% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -9% |
| 3 Years: | -36% |
| TTM: | 69% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 36% |
| 1 Year: | 8% |
| Return on Equity | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 5% |
| 3 Years: | 2% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2.08 | 3.07 | 3.07 | 3.07 | 3.99 | 3.99 | 4.89 | 4.89 | 4.89 | 4.89 | 4.89 |
| Reserves | 0.60 | 0.60 | 1.33 | 3.89 | 4.80 | 6.67 | 29.87 | 30.09 | 30.57 | 31.55 | 32.35 |
| 4.67 | 1.74 | 1.07 | 0.16 | 0.58 | 0.00 | 1.29 | 26.38 | 24.39 | 46.59 | 58.29 | |
| 1.55 | 2.20 | 6.61 | 6.93 | 1.81 | 26.83 | 1.84 | 2.30 | 0.74 | 4.39 | 10.10 | |
| Total Liabilities | 8.90 | 7.61 | 12.08 | 14.05 | 11.18 | 37.49 | 37.89 | 63.66 | 60.59 | 87.42 | 105.63 |
| 0.01 | 0.08 | 0.05 | 0.04 | 0.03 | 0.06 | 0.14 | 0.09 | 0.06 | 0.14 | 0.16 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.03 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 10.99 | 2.01 | 2.01 | 2.44 | 2.61 |
| 8.86 | 7.50 | 12.03 | 14.01 | 11.15 | 37.43 | 26.76 | 61.56 | 58.52 | 84.84 | 102.86 | |
| Total Assets | 8.90 | 7.61 | 12.08 | 14.05 | 11.18 | 37.49 | 37.89 | 63.66 | 60.59 | 87.42 | 105.63 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.41 | 0.48 | -1.11 | 3.10 | -11.23 | -9.10 | 0.55 | -0.30 | |||
| 0.00 | -0.01 | 0.00 | -0.05 | -10.93 | 9.04 | 0.00 | -0.48 | |||
| -0.64 | 0.09 | 0.65 | -0.70 | 21.22 | 0.32 | 0.00 | 0.00 | |||
| Net Cash Flow | -0.23 | 0.55 | -0.46 | 2.35 | -0.94 | 0.26 | 0.55 | -0.78 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 72.27 | 226.75 | 141.59 | 55.50 | 65.91 | 152.83 | 9.36 | 117.56 | 97.38 | 150.30 |
| Inventory Days | 41.91 | 278.93 | 45.03 | 20.67 | 3.36 | 12.12 | 5.83 | 56.45 | 17.32 | 32.24 |
| Days Payable | 19.12 | 172.14 | 114.58 | 42.27 | 9.58 | 133.94 | 4.27 | 41.08 | 15.56 | 43.58 |
| Cash Conversion Cycle | 95.06 | 333.54 | 72.04 | 33.90 | 59.69 | 31.02 | 10.93 | 132.92 | 99.13 | 138.96 |
| Working Capital Days | 93.81 | 367.93 | 90.41 | 38.10 | 61.68 | 38.54 | 56.50 | 814.58 | 713.66 | 341.97 |
| ROCE % | 0.31% | 18.75% | 35.58% | 26.44% | 26.66% | 21.32% | 1.38% | 2.05% | 2.09% |
Documents
Announcements
-
Updates
11 February 2026 - NSE granted in-principle approval to issue 6,850,095 bonus shares (7-for-5) on Feb 11, 2026.
-
General Updates
11 February 2026 - In-principle approval for 6,850,095 bonus shares (7-for-5), Rs10 face value, dated Feb 11, 2026.
-
Reply to Clarification- Financial results
4 February 2026 - Audited standalone and consolidated results for year ended 31-Mar-2025; net profit Rs.9,750; internal auditor appointed.
-
Shareholders meeting
3 February 2026 - EGM 31-Jan-2026: Ordinary resolution approving issue of bonus shares passed unanimously (2,933,225 votes in favour).
-
Shareholders meeting
31 January 2026 - EGM on 31 Jan 2026 convened to consider issue of bonus shares; poll conducted; results to be disclosed.
Business Overview:[1][2][3]
FIL is a part of Indian Horology Industry in the mid-range segment. It is an Authorized Distributor of Foce Watches in India. Company manufactures and imports wrist watches under various brand names with distribution across 1700 retail stores in the country along with clientele in corporate segment