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Forcas Studio (FORCAS)₹199.90+1.78%Garments & Apparels
In the Mar 2026 quarter (standalone), Forcas Studio reported sales of ₹114 Cr, up 31.2% from Mar 2025, and net profit of ₹7.99 Cr, up 32.9% year on year. For the year to Mar 2026, sales were ₹198 Cr and net profit ₹13.99 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 29.02 | 83.11 | 56.07 | 87.02 | 84.01 | 114 |
| Expenses | 26.95 | 74.75 | 49.89 | 77.83 | 74.79 | 102 |
| Operating Profit | 2.01 | 8.01 | 5.01 | 8.01 | 8.99 | 11.99 |
| OPM % | 8.0% | 10.0% | 9.0% | 10.0% | 11.0% | 11.0% |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 1.01 | 2.01 | 2.01 | 1.01 | 1.01 | 2.01 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1.01 | 6.03 | 4.01 | 8.02 | 8.03 | 10.03 |
| Tax % | 34.0% | 24.0% | 26.0% | 26.0% | 26.0% | 23.0% |
| Net Profit | 0.99 | 4.01 | 2.99 | 6.01 | 5.99 | 7.99 |
| EPS (Rs) | 0.80 | 3.30 | 1.65 | 3.24 | 3.29 | 4.50 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales | 50.06 | 53.02 | 66.99 | 41.05 | 153 | 198 |
| Expenses | 46.90 | 49.86 | 64.79 | 37.87 | 140 | 177 |
| Operating Profit | 2.99 | 3.01 | 3.01 | 3.01 | 14.01 | 20.99 |
| OPM % | 6.0% | 6.0% | 3.8% | 8.0% | 9.0% | 11.0% |
| Other Income | 0.99 | 0.99 | 1.99 | 0.00 | 0.99 | 0.00 |
| Interest | 3.01 | 3.01 | 3.01 | 1.01 | 2.01 | 3.01 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.99 |
| Profit before tax | 1.01 | 1.01 | 1.01 | 3.01 | 12.03 | 18.06 |
| Tax % | −5.0% | −3.0% | −3.0% | 21.0% | 26.0% | 25.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 0.99 | 1.01 | 1.01 | 2.01 | 9.01 | 13.99 |
| EPS (Rs) | 0.60 | 0.84 | 1.22 | 1.65 | 4.90 | 7.75 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 7.00 | 7.99 | 8.99 | 12.99 | 17.96 | 17.98 |
| Reserves | 0.00 | 0.00 | 0.00 | 7.00 | 45.92 | 65.95 |
| Borrowings | 24.01 | 24.00 | 22.99 | 32.97 | 12.97 | 44.93 |
| Other Liabilities | 16.92 | 10.95 | 6.97 | 12.93 | 13.93 | 34.84 |
| Total Liabilities | 48.93 | 42.94 | 38.95 | 65.89 | 90.78 | 163 |
| Fixed Assets | 1.01 | 1.01 | 1.01 | 1.01 | 2.01 | 2.01 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 47.92 | 41.93 | 37.94 | 64.88 | 88.77 | 161 |
| Inventories | 22.96 | 28.97 | 17.98 | 19.96 | 32.95 | 82.82 |
| Trade receivables | 19.07 | 6.01 | 12.03 | 32.10 | 38.14 | 65.23 |
| Cash & equivalents | 0.00 | 0.00 | 0.00 | 0.00 | 7.99 | 0.00 |
| Total Assets | 48.93 | 42.94 | 38.95 | 65.89 | 90.78 | 163 |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from operating activity | 3.01 | 3.01 | 5.01 | −40.06 | −10.01 | −42.11 |
| Cash from investing activity | 0.00 | 0.00 | −0.99 | −9.99 | 4.99 | −0.99 |
| Cash from financing activity | −1.99 | −1.99 | −4.99 | 49.87 | 12.98 | 34.92 |
| Net cash flow | 0.00 | 0.00 | 0.00 | 0.00 | 8.01 | −8.01 |
| Capex | 0.20 | 0.12 | 0.75 | 1.19 | 0.94 | 1.07 |
| Free cash flow | 2.01 | 2.01 | 5.01 | −41.05 | −10.99 | −42.99 |
| CFO / OP % | 90.1% | 85.1% | 211.1% | −1,135.0% | −41.9% | −180.0% |
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor days | 136 | 40 | 63 | 284 | 91 | 121 |
| Inventory days | 224 | 285 | 156 | 244 | 124 | 214 |
| Days payable | 170 | 93 | 51 | 125 | 48 | 85 |
| Cash conversion cycle | 192 | 233 | 170 | 404 | 169 | 252 |
| Working capital days | 81 | 70 | 39 | 99 | 122 | 143 |
| ROCE % | — | 10.0% | 13.0% | 9.0% | 22.0% | 20.0% |
For the Mar 2026 quarter, Forcas Studio reported sales of ₹114 Cr, up 31.2% year on year and net profit of ₹7.99 Cr, up 32.9% year on year. The operating margin was 11.0%.
Forcas Studio's sales for the year to Mar 2026 were ₹198 Cr.
Net profit for the year to Mar 2026 was ₹13.99 Cr. Earnings per share over the same trailing period were ₹7.75.
Forcas Studio reported borrowings of ₹44.93 Cr at Mar 2026, against cash and equivalents of ₹0 Cr.
Cash from operations was −₹42.11 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹42.99 Cr.