Financial Performance Overview
Forbes & Company Limited reported mixed FY26 results with significant revenue decline but maintained profitability. Standalone revenue decreased to ₹8,519 lakhs from ₹21,280 lakhs in FY25, primarily due to reduced real estate revenue, while PAT stood at ₹1,472 lakhs. Consolidated performance showed revenue of ₹7,614 lakhs with PAT of ₹1,341 lakhs. The company maintained a debt-free status with no borrowings.
Key Subsidiary Developments
The most significant event was the insolvency of subsidiary Forbes Technosys Limited, which entered Corporate Insolvency Resolution Process (CIRP) under NCLT Mumbai Bench on March 24, 2025. This resulted in a ₹953.94 crore gain from deconsolidation and reclassification as an investment. Additionally, the company acquired full control of joint venture Forbes Bradma Optimark Private Limited from MACSA ID S.A., which reported a FY26 net loss of ₹51.09 lakh but maintained positive net worth.
Operational Segments
The company operates through two main segments: Coding and Industrial Automation (CIAB) which grew 12% to ₹3,885 lakhs revenue, and Real Estate which declined significantly to ₹3,927 lakhs from ₹16,795 lakhs. Total segment revenue stood at ₹7,812 lakhs compared to ₹19,929 lakhs in previous year.
AGM and Corporate Governance
The 107th Annual General Meeting is scheduled for July 31, 2026, to be held virtually. Key agenda items include adoption of financial statements, re-appointment of director Jai Mavani, and ratification of cost auditor remuneration. The board comprises 6 directors with 3 independent directors, and all governance requirements were met during the year.
Financial Position and Risks
The company reported total assets of ₹21,045 lakhs with equity of ₹16,081 lakhs. Significant foreign currency exposure exists mainly in CHF (₹66,274 lakhs), EUR (₹3,895 lakhs), and USD. Contingent liabilities stood at ₹7,966 lakhs, primarily from tax disputes and customer claims. Assets pledged as security totaled ₹718.15 crore including investments and receivables.
Regulatory Compliance and Legal Matters
The company complied with all SEBI and regulatory requirements, including maintenance of audit trail features in accounting software. Key ongoing legal matters include the Svadeshi Mills Company Limited case in Bombay High Court and various tax disputes. Secretarial audit report contained no qualifications, and statutory auditors Sharp & Tannan Associates provided clean reports with appropriate emphasis of matter disclosures.
Investment Portfolio
The company holds quoted investments in Eureka Forbes Limited valued at ₹5,282 lakhs, recognizing a notional loss of ₹1,071 lakhs on fair valuation. Other subsidiaries include Forbes Campbell Finance Limited (investment portfolio ₹6,128 lakhs) and Forbes Bumi Armada Limited, while EFL Mauritius Limited is in process of strike-off from Mauritius Registrar.