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 ₹ 258 Cr.
- Current Price ₹ 146
- High / Low ₹ 149 / 91.5
- Stock P/E 18.9
- Book Value ₹ 47.7
- Dividend Yield 0.00 %
- ROCE 20.2 %
- ROE 18.5 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 88.0% CAGR over last 5 years
- Debtor days have improved from 165 to 121 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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
Part of Nifty SME Emerge
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 50 | 53 | 67 | 24 | 41 | 153 | 198 | |
| 47 | 50 | 65 | 22 | 38 | 140 | 177 | |
| Operating Profit | 3 | 3 | 3 | 2 | 3 | 14 | 21 |
| OPM % | 6% | 6% | 4% | 9% | 8% | 9% | 11% |
| 1 | 1 | 2 | 0 | 0 | 1 | 0 | |
| Interest | 3 | 3 | 3 | 1 | 1 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 1 | 1 | 1 | 2 | 3 | 12 | 18 |
| Tax % | -5% | -3% | -3% | 26% | 21% | 26% | 25% |
| 1 | 1 | 1 | 1 | 2 | 9 | 14 | |
| EPS in Rs | 0.61 | 0.85 | 1.23 | 0.91 | 1.66 | 4.91 | 7.76 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 32% |
| 3 Years: | 43% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 88% |
| 3 Years: | 127% |
| TTM: | 58% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 32% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 19% |
| Last Year: | 19% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 8 | 9 | 13 | 13 | 18 | 18 |
| Reserves | 0 | 0 | 0 | 6 | 7 | 46 | 66 |
| 24 | 24 | 23 | 29 | 33 | 13 | 45 | |
| 17 | 11 | 7 | 11 | 13 | 14 | 35 | |
| Total Liabilities | 49 | 43 | 39 | 59 | 66 | 91 | 163 |
| 1 | 1 | 1 | 1 | 1 | 2 | 2 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 48 | 42 | 38 | 58 | 65 | 89 | 161 | |
| Total Assets | 49 | 43 | 39 | 59 | 66 | 91 | 163 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 3 | 3 | 5 | 1 | -40 | -10 | -42 | |
| -0 | -0 | -1 | 0 | -10 | 5 | -1 | |
| -2 | -2 | -5 | -2 | 50 | 13 | 35 | |
| Net Cash Flow | 0 | 0 | -0 | -0 | 0 | 8 | -8 |
| Free Cash Flow | 2 | 2 | 5 | 1 | -41 | -11 | -43 |
| CFO/OP | 90% | 85% | 211% | 65% | -1,135% | -42% | -180% |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 136 | 40 | 63 | 360 | 284 | 91 | 121 |
| Inventory Days | 224 | 285 | 156 | 544 | 244 | 124 | 214 |
| Days Payable | 169 | 92 | 50 | 199 | 124 | 47 | 84 |
| Cash Conversion Cycle | 191 | 232 | 169 | 705 | 403 | 168 | 251 |
| Working Capital Days | 81 | 70 | 39 | 189 | 99 | 122 | 143 |
| ROCE % | 10% | 13% | 5% | 9% | 22% | 20% |
Insights
In beta| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Number of Online Marketplaces count |
|
||
| Number of Pin codes served count |
|||
| Cumulative Online Customers Served customers |
|||
| Number of Distributors / Semi-wholesalers count |
|||
| Number of Retailers / MBOs count |
|||
| Number of SKUs offered count |
|||
| Quick Commerce Stores count |
|||
| Units sold (garments) pieces |
|||
Extracted by Screener AI
Documents
Announcements
-
General Updates
9 July 2026 - Forcas Studio clarifies recent share price movement is market-driven and no undisclosed information exists.
-
Price movement
8 July 2026 - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
3 July 2026 - Forcas Studio says corporate governance provisions are not applicable for quarter ended June 30, 2026.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
3 July 2026 - Submitted Regulation 74(5) certificate for quarter ended June 30, 2026.
-
Outcome of Board Meeting
23 June 2026 - Board revised MD Sailesh Agarwal’s pay to ₹8 lakh/month and CFO Sourav Agarwal’s to ₹3 lakh/month from April 1, 2026.
Annual reports
Concalls
-
May 2026Transcript PPT
-
Nov 2025Transcript PPT
-
Jun 2025Transcript PPT
-
Feb 2025TranscriptAI SummaryPPT
-
Jan 2025TranscriptAI SummaryPPT
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.