Forcas Studio
FORCAS NSE
Forcas Studio
TextilesNSE: FORCAS Textiles & Apparels
Key Fundamentals
SMETextiles & ApparelsTextilesMarket Cap
₹411 Cr
Volatility
Moderate
P/E Ratio
28.9
EBITDA
₹21.02 Cr
Return on Equity
6.15%
Debt to Equity
0.54
Book Value
₹47.66
52W High
₹248.95
52W Low
₹91.5
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has delivered good profit growth of 88.0% CAGR over last 5 years
- Debtor days have improved from 165 to 121 days.
Weaknesses
1- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
Revenue Growth
717% higher than
3Y
Net Income Growth
—
Cash Flow Change
74.78% higher than
3Y
ROE
-54.85% lower than
3Y
ROCE
-69.57% lower than
3Y
EBITDA Margin (Avg.)
19.33% lower than
3Y
Quarterly Results
| Particulars | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 29 | 83 | 56 | 87 | 84 | 114 |
| Expenses | 27 | 75 | 50 | 78 | 75 | 102 |
| Operating Profit | 2 | 8 | 5 | 8 | 9 | 12 |
| OPM % | 8% | 10% | 9% | 10% | 11% | 11% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 1 | 2 | 2 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 1 | 6 | 4 | 8 | 8 | 10 |
| Tax % | 34% | 24% | 26% | 26% | 26% | 23% |
| Net Profit | 1 | 4 | 3 | 6 | 6 | 8 |
| EPS in Rs | 0.81 | 3.31 | 1.66 | 3.25 | 3.3 | 4.51 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 1m | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 50 | 53 | 67 | 24 | 41 | 153 | 198 |
| Expenses | 47 | 50 | 65 | 22 | 38 | 140 | 177 |
| Operating Profit | 3 | 3 | 3 | 2 | 3 | 14 | 21 |
| OPM % | 6% | 6% | 3.8% | 9% | 8% | 9% | 11% |
| Other Income | 1 | 1 | 2 | 0 | 0 | 1 | 0 |
| Interest | 3 | 3 | 3 | 1 | 1 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| PBT | 1 | 1 | 1 | 2 | 3 | 12 | 18 |
| Tax % | -5% | -3% | -3% | 26% | 21% | 26% | 25% |
| Net Profit | 1 | 1 | 1 | 1 | 2 | 9 | 14 |
| EPS in Rs | 0.61 | 0.85 | 1.23 | 0.91 | 1.66 | 4.91 | 7.76 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | 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 |
| Borrowings | 24 | 24 | 23 | 29 | 33 | 13 | 45 |
| Other Liabilities | 17 | 11 | 7 | 11 | 13 | 14 | 35 |
| Total Liabilities | 49 | 43 | 39 | 59 | 66 | 91 | 163 |
| Fixed Assets | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 48 | 42 | 38 | 58 | 65 | 89 | 161 |
| Total Assets | 49 | 43 | 39 | 59 | 66 | 91 | 163 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Feb 2024 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | 3 | 3 | 5 | 1 | -40 | -10 | -42 |
| Investing | 0 | 0 | -1 | 0 | -10 | 5 | -1 |
| Financing | -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
| Particulars | 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Forcas Studio insights
54 extracted metrics + investor summaries across FY21–FY26.
Documents
1
Copy of Newspaper Publication
2 Sep - Forcas Studio announced 3rd AGM on September 23, 2026, with e-voting details and book closure. 2 Sep - Forcas Studio announced 3rd AGM on September 23, 2026, with e-voting details and book closure.
2
Shareholders meeting
28 Aug - 3rd AGM on Sep 23, 2026; seeks financial adoption, director reappointments, remuneration revisions, and ESOP approvals. 28 Aug - 3rd AGM on Sep 23, 2026; seeks financial adoption, director reappointments, remuneration revisions, and ESOP approvals.
3
Copy of Newspaper Publication
27 Aug - Forcas Studio published newspaper notice for its 3rd AGM on September 23, 2026. 27 Aug - Forcas Studio published newspaper notice for its 3rd AGM on September 23, 2026.
4
Analysts/Institutional Investor Meet/Con. Call Updates
20 Aug - Forcas Studio held a virtual analyst and investor meeting on August 20, 2026; no UPSI shared. 20 Aug - Forcas Studio held a virtual analyst and investor meeting on August 20, 2026; no UPSI shared.
5
Analysts/Institutional Investor Meet/Con. Call Updates
13 Aug - Forcas Studio will hold a virtual analyst/investor meeting on August 20, 2026 at 3:00 p.m. 13 Aug - Forcas Studio will hold a virtual analyst/investor meeting on August 20, 2026 at 3:00 p.m.
Frequently Asked Questions about Forcas Studio
What does Forcas Studio Ltd do?
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]
Where is Forcas Studio Ltd (FORCAS) listed?
Forcas Studio Ltd trades as FORCAS on the NSE.
Which sector does Forcas Studio Ltd belong to?
Forcas Studio Ltd is classified under the Textiles sector, in the Textiles & Apparels industry.
What is the market capitalisation of Forcas Studio Ltd?
Forcas Studio Ltd has a market capitalisation of ₹411.28 Cr, which places it in the Small Cap band.
What is the PE ratio of Forcas Studio Ltd?
Forcas Studio Ltd trades at a PE ratio of 28.90, against a book value of ₹47.66 per share.
What is the 52-week high and low of Forcas Studio Ltd?
Over the last 52 weeks Forcas Studio Ltd has traded between ₹91.5 and ₹248.95.
What is the Return on Equity (ROE) of Forcas Studio Ltd?
Forcas Studio Ltd reported a return on equity of 6.15%. Its debt-to-equity ratio is 0.54.
Company Information
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]
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