Foce India Ltd
Incorporated in 2001, Foce India Ltd trades in wristwatches and Men’s accessories[1]
- Market Cap ₹ 881 Cr.
- Current Price ₹ 1,800
- High / Low ₹ 2,004 / 1,226
- Stock P/E 607
- Book Value ₹ 76.1
- Dividend Yield 0.00 %
- ROCE 2.09 %
- ROE 2.73 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 23.6 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: | 3% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 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
-
Clarification - Financial Results
13 January 2026 - Exchange has sought clarification from Foce India Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …
-
Copy of Newspaper Publication
10 January 2026 - EOGM on 31 Jan 2026 at 1:00 PM; notice published Jan 10; bonus record-date to be decided.
-
Shareholders meeting
8 January 2026 - EGM on 31 Jan 2026 to approve 7:5 bonus issue capitalizing Rs.6,85,00,950.
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
8 January 2026 - Foce India: governance provisions not applicable; no Corporate Governance Report for quarter ended 31-Dec-2025.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
8 January 2026 - Regulation 74(5) certificate confirming dematerialisation status for quarter ended 31 December 2025; no certificates dematerialised.
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