---
title: "Forward Securities Ltd (517047) — Share Price, Financials & Analysis"
symbol: "517047"
company: "Forward Securities Ltd"
canonical: "https://tapetide.com/stocks/517047"
bse_code: "517047"
generated_at: "2026-10-13T11:00:03.891Z"
---

# Forward Securities Ltd (517047)

Canonical page: https://tapetide.com/stocks/517047

## Company

- **BSE Code:** 517047
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | — | 14% |
| revenue growth | -100% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 656 | 431 | 600 | 768 | 421 | 404 | 474 | 421 | 494 | 419 | 572 | 644 |
| Expenses | 553 | 387 | 508 | 649 | 370 | 375 | 406 | 360 | 441 | 382 | 497 | 561 |
| Operating Profit | 103 | 44 | 92 | 119 | 51 | 29 | 67 | 61 | 53 | 37 | 75 | 83 |
| OPM % | 16 | 10 | 15 | 16 | 12 | 7 | 14 | 15 | 11 | 9 | 13 | 13 |
| Other Income | 2 | 1 | 2 | 2 | 2 | 1 | 2 | 1 | 21 | 4 | 7 | 5 |
| Interest | 10 | 10 | 7 | 7 | 8 | 6 | 2 | 4 | 3 | 1 | 0 | 0 |
| Depreciation | 18 | 14 | 14 | 14 | 15 | 14 | 14 | 14 | 16 | 15 | 15 | 15 |
| Profit before tax | 76 | 20 | 73 | 100 | 31 | 10 | 53 | 45 | 55 | 24 | 66 | 73 |
| Tax % | 35 | 33 | 33 | 32 | 30 | 35 | 35 | 35 | 36 | 37 | 35 | 33 |
| Net Profit | 50 | 14 | 49 | 68 | 22 | 6 | 34 | 29 | 35 | 15 | 43 | 48 |
| EPS in Rs | 39.81 | 10.84 | 38.92 | 54.28 | 17.41 | 5.13 | 27.33 | 22.98 | 28.04 | 12.16 | 34.05 | 38.59 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Sales | 0.02 | 0.01 | 0.03 | 0.04 | 0 |
| Expenses | 0.05 | 0.04 | 0.02 | 0.04 | 0.01 |
| Operating Profit | -0.03 | -0.03 | 0.01 | 0 | -0.01 |
| OPM % | -150 | -300 | 33.33 | 0 | — |
| Other Income | 0 | 0.01 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0.01 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.03 | -0.02 | 0 | 0 | -0.01 |
| Tax % | 0 | 0 | — | — | 0 |
| Net Profit | -0.03 | -0.02 | 0 | 0 | -0.01 |
| Dividend Payout % | 0 | 0 | — | — | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.21 | 4.21 | 4.21 | 4.21 | 4.21 |
| Reserves | -9.73 | -9.75 | -9.76 | -9.76 | -9.79 |
| Borrowings | 8.05 | 8.05 | 8.05 | 8.06 | 8.05 |
| Other Liabilities | 0.97 | 0.97 | 0.98 | 0.93 | 0.94 |
| Total Liabilities | 3.5 | 3.48 | 3.48 | 3.44 | 3.41 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.02 | 0.02 | 0 | 0 | 0 |
| Other Assets | 3.48 | 3.46 | 3.48 | 3.44 | 3.41 |
| Total Assets | 3.5 | 3.48 | 3.48 | 3.44 | 3.41 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | — | 0 | 0 |
| Cash from Investing Activity | — | — | — | 0 | 0 |
| Cash from Financing Activity | — | — | — | 0 | 0 |
| Net Cash Flow | — | — | — | 0 | 0 |
| Free Cash Flow | — | — | — | 0 | 0 |
| CFO/OP | — | — | — | — | 0 |

### Ratios

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 0 | 0 | 0 | — |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | — |
| Working Capital Days | -13687.5 | -27375 | -9125 | -6478.75 | — |
| ROCE % | — | -0.79 | 0.4 | 0 | -0.4 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.7% | 58.7% | 58.7% | 58.7% | 58.7% | 58.7% | 58.69% | 58.69% | 58.69% | 58.69% |
| FIIs | 0.16% | 0.17% | 0.17% | 0.17% | 0.15% | 0.23% | 0.26% | 0.25% | 0.27% | 0.27% |
| DIIs | 0.02% | 0.03% | 0.1% | 0.09% | 0.09% | 0.06% | 0.01% | 0% | 0% | 0% |
| Public | 41.12% | 41.11% | 41.03% | 41.04% | 41.06% | 41.01% | 41.04% | 41.04% | 41.04% | 41.03% |
| No. of Shareholders | 7100 | 6395 | 6332 | 6300 | 6024 | 8643 | 7895 | 8694 | 7816 | 6670 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% | 58.69% |
| FIIs | 0.26% | 0.26% | 0.26% | 0.26% | 0.25% | 0.25% | 0.27% | 0.27% | 0.27% | 0.28% | 0.27% | 0.27% |
| DIIs | 0.01% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 41.04% | 41.04% | 41.03% | 41.04% | 41.04% | 41.05% | 41.04% | 41.03% | 41.04% | 41.01% | 41.02% | 41.03% |
| No. of Shareholders | 7895 | 7861 | 8462 | 8766 | 8694 | 8662 | 8718 | 8297 | 7816 | 7763 | 7535 | 6670 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 6.26 | Sell |
| EMA (10) | 6.22 | Sell |
| SMA (20) | 6.56 | Sell |
| EMA (20) | 6.47 | Sell |
| SMA (50) | 7.01 | Sell |
| EMA (50) | 6.93 | Sell |
| SMA (100) | 7.61 | Sell |
| EMA (100) | 7.57 | Sell |
| SMA (200) | 8.46 | Sell |
| EMA (200) | 9.72 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 33.32 | Neutral |
| MACD (12,26,9) | -0.3 | Sell |
| Stochastic (14,3,3) | 7.87 | Buy |
| ADX (14) | 13.97 | Neutral |
| Williams %R (14) | -83.33 | Buy |
| ATR (14) | 0.29 | High Volatility |
| ROC (12) | -12.84 | Sell |
| Stoch RSI (14) | 44.21 | Neutral |
| UO (7,14,28) | 28.8 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-02-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b7f75d96-27d4-4c7a-b993-9e59a002cd01.pdf) |
| 2026-02-06 | [Unaudited Financial Results For The Quarter And Nine Months Ended 31St December, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c6e08c6d-4ebf-46b1-ad64-74f0f809de7e.pdf) |
| 2026-01-28 | [Board Meeting Intimation for Unaudited Financial Results For The Quarter And Nine Months Ended 31.12.2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d4a6d008-d7ab-416c-b8a8-63ae38d5863d.pdf) |
| 2026-01-20 | [Demand Notice Received From Tamilnadu Power Disitribution Corporation Limited](https://www.bseindia.com/xml-data/corpfiling/AttachHis/da216f5f-fcbc-4c2d-9670-376d3d5fa679.pdf) |
| 2026-01-13 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3b51f22a-fae3-4074-bc7f-7863e1106e3d.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1b75b0c6-8fbe-4ada-a729-2d2447846829.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dd70d44d-08ed-409a-a58f-2d91024e669a.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e409bc67-feb5-454b-b0d6-2a06494844ee.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/500041/74213500041.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/500041/69321500041.pdf) |
| Mar 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/500041/5000410320.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/500041/5000410319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/500041/5000410318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/500041/5000410317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/500041/5000410316.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-12-10 | Credit rating update — CARE Ratings |
| 2025-01-08 | Credit rating update — CARE Ratings |
| 2024-01-05 | Credit rating update — CARE Ratings |
| 2022-12-12 | Credit rating update — CARE Ratings |
| 2021-12-03 | Credit rating update — CARE Ratings |
| 2020-12-07 | Credit rating update — CARE Ratings |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:03.891Z.