Forcas Studio Ltd
Incorporated in April 2010, Forcas Studio Limited sells men's clothing, including shirts, jeans, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers.[1]
- Market Cap ₹ 187 Cr.
- Current Price ₹ 106
- High / Low ₹ 130 / 65.0
- Stock P/E 21.6
- Book Value ₹ 36.2
- Dividend Yield 0.00 %
- ROCE 21.7 %
- ROE 20.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Debtor days have improved from 146 to 91.0 days.
Cons
- Stock is trading at 2.93 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 86.5 days to 122 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.
Peer comparison
Consumer Discretionary Textiles Textiles & Apparels Garments & Apparels
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 1m | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
50 | 53 | 67 | 24 | 41 | 153 | |
47 | 50 | 65 | 22 | 38 | 140 | |
Operating Profit | 3 | 3 | 3 | 2 | 3 | 14 |
OPM % | 6% | 6% | 4% | 9% | 8% | 9% |
1 | 1 | 2 | 0 | 0 | 1 | |
Interest | 3 | 3 | 3 | 1 | 1 | 2 |
Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
Profit before tax | 1 | 1 | 1 | 2 | 3 | 12 |
Tax % | -5% | -3% | -3% | 26% | 21% | 26% |
1 | 1 | 1 | 1 | 2 | 9 | |
EPS in Rs | 0.61 | 0.85 | 1.23 | 0.91 | 1.66 | 4.91 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 43% |
TTM: | 270% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 120% |
TTM: | 303% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 11% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 18% |
Last Year: | 21% |
Balance Sheet
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Equity Capital | 7 | 8 | 9 | 13 | 13 | 18 |
Reserves | 0 | 0 | 0 | 6 | 7 | 46 |
24 | 24 | 23 | 29 | 33 | 13 | |
17 | 11 | 7 | 11 | 13 | 14 | |
Total Liabilities | 49 | 43 | 39 | 59 | 66 | 91 |
1 | 1 | 1 | 1 | 1 | 2 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 |
48 | 42 | 38 | 58 | 65 | 89 | |
Total Assets | 49 | 43 | 39 | 59 | 66 | 91 |
Cash Flows
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
3 | 3 | 5 | 1 | -40 | -10 | |
-0 | -0 | -1 | 0 | -10 | 5 | |
-2 | -2 | -5 | -2 | 50 | 13 | |
Net Cash Flow | 0 | 0 | -0 | -0 | 0 | 8 |
Ratios
Figures in Rs. Crores
Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|
Debtor Days | 136 | 40 | 63 | 360 | 284 | 91 |
Inventory Days | 224 | 285 | 156 | 544 | 244 | 124 |
Days Payable | 169 | 92 | 50 | 199 | 124 | 47 |
Cash Conversion Cycle | 191 | 232 | 169 | 705 | 403 | 168 |
Working Capital Days | 81 | 70 | 39 | 189 | 99 | 122 |
ROCE % | 10% | 13% | 5% | 9% | 22% |
Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
15 September 2025 - Virtual analyst/institutional investor meeting on Sept 24, 2025, 3–4pm with Arihant Capital; no UPSI.
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Copy of Newspaper Publication
1 September 2025 - Published notice of Forcas Studio's 2nd AGM and e-voting details in Financial Express and Ekdin (Sept 1, 2025).
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Shareholders meeting
30 August 2025 - AGM on Sep 25, 2025; adopt FY2024-25 financials; reappoint Sourav Agarwal; appoint CS Niaz Ahmed as secretarial auditor.
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Copy of Newspaper Publication
29 August 2025 - Forcas Studio published notice of 2nd AGM on 29 Aug 2025 in Financial Express and Ekdin.
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Outcome of Board Meeting
29 August 2025 - AGM Sep 25, 2025 3:00pm via VC; book closure Sep 19–25; internal auditor appointed.
Annual reports
Concalls
-
Jun 2025Transcript PPT
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Feb 2025TranscriptNotesPPT
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Jan 2025TranscriptNotesPPT
Product Portfolio[1] Company offers a wide range of products, including shirts, denim, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers for the Indian menswear segment.