Forcas Studio
Forcas Studio (FORCAS) share price was ₹188.10 at the 28 Oct 2026 close; market capitalisation ₹331 Cr; sector Textiles. The share price rose 56.2% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue was ₹114 Cr, against ₹87 Cr a year earlier and net profit was ₹8 Cr, against ₹6 Cr a year earlier (compared with Mar 2025). Promoters held 60.30% of Forcas Studio in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 50/100 (Average) as of 28 Oct 2026.
Key Fundamentals
SMETextilesConsumer DiscretionaryPrice-based figures as of 29 Oct 2026, 11:28 IST · TTM
Peer Comparison
Consumer Discretionary › Textiles › Textiles & Apparels › Garments & Apparels
| ₹33,945.00 | 50.09 | 37,862 Cr | 25.20 | 0.58% | 50.83% | 61.49% | 5,410 Cr | 757 Cr | |
| ₹498.90 | 31.60 | 13,572 Cr | 3.19 | 0.90% | 10.31% | 15.37% | 9,878 Cr | 431 Cr | |
| ₹1,187.70 | 35.30 | 10,972 Cr | 7.52 | 1.21% | 18.78% | 22.35% | 5,362 Cr | 304 Cr | |
| ₹643.15 | 45.78 | 4,713 Cr | 2.18 | 0.16% | 4.63% | 9.38% | 4,269 Cr | 103 Cr | |
| ₹1,103.30 | 33.34 | 3,318 Cr | 1.81 | 0.18% | 5.83% | 9.36% | 2,949 Cr | 99 Cr | |
| ₹65.30 | 80.62 | 3,110 Cr | 30.95 | 0.08% | 31.51% | 37.41% | 550 Cr | 38 Cr | |
| ₹418.40 | 17.42 | 2,578 Cr | 2.68 | 0.96% | 13.60% | 17.79% | 1,281 Cr | 161 Cr | |
| Forcas Studio (this company) | ₹188.10 | — | 331 Cr | 3.95 | 0.00% | 6.15% | 9.20% | — | — |
| Median 8 companies | ₹571.03 | 35.30 | 4,015 Cr | 3.57 | 0.38% | 11.96% | 16.58% | 4,269 Cr | 161 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 84/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
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
Technical Indicators
Oscillators
Bullish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year Operating margin 11% · Mar 2026
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 (₹) | 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 (₹) | 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
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57 extracted metrics + investor summaries across FY21–FY27.
Documents
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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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