Forbes & Company Ltd - Stock Valuation and Financial Performance

BSE: 502865 | NSE: FORBESGOK | Engineering - Industrial Equipments | Small Cap

Forbes & Company Share Price

498 -5.50 -1.09%
as on 12-Apr'24 10:18

DeciZen - make an informed investing decision on Forbes & Company

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Forbes & Company stock performance -

mw4me loader
P/E Ratio (SA):
15.40
Market Cap:
649.5 Cr.
52-wk low:
383.3
52-wk high:
1,399

Is Forbes & Company Ltd an attractive stock to invest in?

1. Is Forbes & Company Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Forbes & Company Ltd is a average quality company.

2. Is Forbes & Company Ltd undervalued or overvalued?

The key valuation ratios of Forbes & Company Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

3. Is Forbes & Company Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Forbes & Company Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Forbes & Company:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Forbes & Company Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -5.1%3.4%3.3%18.2%11.7%5.6%-3.4%-7.5%415.7%41.1%-
Value Creation
Index
-1.4-0.8-0.80.3-0.2-0.6-1.3-1.528.71.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 286163181266293227195562235248260
Sales YoY Gr.--42.9%10.7%47.4%10.1%-22.6%-14.2%188.6%-58.2%5.4%-
Adj EPS -22.1-2.4-2.344.131.512-17-28.173852.932.7
YoY Gr.-NANANA-28.5%-62%-241.6%NANA-92.8%-
BVPS (₹) 106.8104.9112.7187.2216181.5156.313230.3160.4193.1
Adj Net
Profit
-28.6-3.1-356.940.715.4-21.9-36.295268.342
Cash Flow from Ops. 36.9-1933.9-29.826.761.159.598.762.563.7-
Debt/CF from Ops. 4.1-9.15.4-56.32.83.11.51.60.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -1.6%-3.3%8.3%5.4%
Adj EPS NA10.9%NA-92.8%
BVPS4.6%-5.8%0.9%430.2%
Share Price 0.1% -27.1% -34.3% -19.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-18.7-2.3-2.229.415.66-10-19.5909.555.518.5
Op. Profit
Mgn %
1.61.85.214.319.910.3-2.124.613.110.417.4
Net Profit
Mgn %
-10-1.9-1.721.413.96.8-11.2-6.440527.616.2
Debt to
Equity
1.11.31.30.60.60.70.90.92.60.1-
Working Cap
Days
279430332226252459744208330338219
Cash Conv.
Cycle
565958537916957013218422211

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 18.50%

Sales growth has been subdued in last 3 years 8.34%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 8.78%

Latest Financials - Forbes & Company Ltd.

Standalone Consolidated
TTM EPS (₹) 32.7 16.5
TTM Sales (₹ Cr.) 260 351
BVPS (₹.) 193.1 211
Reserves (₹ Cr.) 236 259
P/BV 2.61 2.39
PE 15.40 30.49
From the Market
52 Week Low / High (₹) 383.30 / 1399.00
All Time Low / High (₹) 38.05 / 6774.00
Market Cap (₹ Cr.) 649
Equity (₹ Cr.) 12.9
Face Value (₹) 10
Industry PE 50

Management X-Ray of Forbes & Company:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *98.2598.2598.2598.2598.2598.2598.2598.2598.2598.25
* Pledged shares as % of Promoter's holding (%)

Event Update

Login/Register to view analysis.

Analyst's Notes

Key Ratios of Forbes & Company

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales286163181266293227195562235248
Operating Expenses 281160171228235204199424204222
Manufacturing Costs127313511897111114686261
Material Costs56546526593-22896267
Employee Cost 46373844434447424951
Other Costs 53383240374640253142
Operating Profit 539385823-41383126
Operating Profit Margin (%) 1.6%1.8%5.2%14.3%19.8%10.2%-2.2%24.5%13.1%10.4%
Other Income 116101481881416214
Interest 1919191212121214128
Depreciation 133568912141314
Exceptional Items -141016110-10-5-1144,10129
Profit Before Tax -30-311454610-2694,122247
Tax 000-550-140-119
Profit After Tax -30-311504110-25-314,133239
PAT Margin (%) -10.4%-2.1%5.8%18.6%13.9%4.5%-12.6%-5.5%1,758.4%96.3%
Adjusted EPS (₹)-23.0-2.68.138.531.78.0-19.0-24.13,204.2185.0
Dividend Payout Ratio (%)0%0%0%6%8%63%0%0%0%35%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 13813514524227923420217039207
Share Capital 13131313131313131313
Reserves 12512213222926622118915726194
Minority Interest0000000000
Debt138100126149151115141967910
Long Term Debt1258283100826268585510
Short Term Debt1318424969537338230
Trade Payables34393743384652594738
Others Liabilities 1752071344950301419192270259
Total Liabilities 484482442483518696813517436514

Fixed Assets

Gross Block22422739577181143143148155
Accumulated Depreciation119127713202836485363
Net Fixed Assets10510032445153107959592
CWIP 1063241212
Investments 15416317419320624324216737105
Inventories3537397488283362133163181
Trade Receivables40474239394125353129
Cash Equivalents 10714172310424954
Others Assets13912713511210962726110051
Total Assets 484482442483518696813517436514

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 37-1934-30276160996364
PBT -30-13934610-2694,122247
Adjustment 441821-51171925131-4,083-220
Changes in Working Capital 23-3515-71-233063-441832
Tax Paid 0-2-40-132-3354
Cash Flow From Investing Activity -1010-2287-25-59-60-31-16147
Capex -3-3-1077-15138-481-27180
Net Investments 10-61401000-23
Others -913-6-4-10-199-12-3111-10
Cash Flow From Financing Activity -286-4-544-15-5-48-62-181
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -317-12-41-117-41-35-89
Interest Paid -16-17-16-19-11-13-12-13-12-8
Dividend Paid -1000-3-3-600-83
Others -8525619-1617-36-15-1
Net Cash Flow -1-3835-13-620-1630
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)-19.47-2.497.4825.6715.734.01-11.27-16.683949194.08
ROCE (%)-3.625.179.2915.8213.785.26-3.526.451789.39141.84
Asset Turnover Ratio0.590.370.430.610.590.370.260.850.490.52
PAT to CFO Conversion(x)N/AN/A3.09-0.60.666.1N/AN/A0.020.27
Working Capital Days
Receivable Days69888252486462195145
Inventory Days4273697299298604161230253
Payable Days2552452125652514,918-8,60170312232

Forbes & Company Ltd Stock News

Forbes & Company Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Forbes & Company on 12-Apr-2024 10:18 is ₹498.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 12-Apr-2024 10:18 the market cap of Forbes & Company stood at ₹649.5.
The latest P/E ratio of Forbes & Company as of 12-Apr-2024 10:18 is 15.40.
The latest P/B ratio of Forbes & Company as of 12-Apr-2024 10:18 is 2.61.
The 52-week high of Forbes & Company is ₹1,399 and the 52-week low is ₹383.3.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Forbes & Company is ₹260.1 ( Cr.) .

About Forbes & Company Ltd

Forbes & Company, established in 1919, is one of the oldest companies of the world that is still in business. The company traces its origin to the year 1767 when John Forbes of Aberdeenshire, Scotland, started his business in India. Over the years, the management of the company moved from the Forbes family to the Campbells, to the Tata Group and finally to the well known Shapoorji Pallonji Group; leaders in infrastructure, construction and real estate businesses, amongst many others.

Forbes & Company has three main businesses; namely engineering, shipping and logistics and business automation.

The company, listed on the Bombay Stock Exchange, has an eminent board of directors and the day-to-day affairs of the company are managed by a senate of experienced persons.

Divisions

Engineering - Under this, the company manufactures precision tools and offers energy solutions. Forbes offers cutting tools under the brand name ‘Totem’. The product range is versatile and suited to various industrial applications.

  • High Speed Steel Threading Taps (M2, M35 and M42 Steel)
  • Carbon Alloy Steel Threading Taps 
  • High Speed Steel and Carbon Alloy Steel Threading Round Dies and Hexagonal Die Nuts
  • Solid Carbide End Mills and Drills
  • Tungsten Carbide Rotary Burrs

The company has a technical collaboration and management support agreement with the world leader M A Ford, USA for developing, manufacturing and marketing solid carbide tools. The solid carbide tools plant is located in Aurangabad in Maharashtra and is one of the most modern plants in India. The company has a dedicated application selling department that addresses the customer's requirements from the concept stage to the finished product. This includes an advance application laboratory where the tool is designed, tested and developed.

The company is involved actively in providing innovative solutions for the process industry and other large manufacturing industries in the form of steam turbines and blowers-exhausters. Its steam turbines and centrifugal blowers are sourced from global leaders like Dresser-Rand and Gardner-Denver.

It serve a wide range of industry segments from refineries to chemical / process plants and sugar manufacturing units, pharmaceuticals, paper, food processing, oil production, carbon black, steel plants, cogeneration plants, etc. The company has relationships with customers like Bharat Heavy Electricals, Indian Oil, Bharat Petroleum, KSB, Thermax, Cethar Vessels, and many more.

Products and Services

• Single Stage Turbines in the capacities of 0.5 HP to 4000 HP under both segments of API and Non API • Multi Stage Turbines in the capacities of 670 HP to 94000 HP under both segments of API and Non API • Centrifugal Blowers in the capacities of 40000 CFM • Erection and Commissioning Support â€¢ Integrated and Customized Solutions • After Sales Support from an experienced team of Engineers

The company operates a design and integration facility that offers customized solutions to every need of its customers and is equipped with latest computer aided design and maintenance software. The customized solutions include steam turbines integrated with gear box, lube oil systems, base frames, etc. as per the client’s requirement. The turbine system can also be integrated with centrifugal blowers for specific applications. The integration facility is well equipped with machineries and skilled technical persons.

Shipping and Logistics

Forbes Patvolk, the shipping division of Forbes & Company, is involved in shipping activities like liner agency, Forbes container line, container freight stations, multimodal transportation, logistics, feedering, tramp and chartering services.

Forbes Patvolk is a member of several national and international associations such as IATA, MANSA, AMTOI etc. The division has diversified into new business spheres such as container freight stations and ship owning.

With offices in all major ports, airports and inland dry ports, Forbes Patvolk has a presence spanning the whole of India. It has also obtained ISO 9001:2000 certification for its superior quality practices.

Liner agency is one of the core activities of Forbes Patvolk that provides world-wide container transportation on major long haul routes. The division is associated with reputed shipping companies such as Swire Shipping, MOL and APL. The liner agency has been successful in expanding its activities to reach a wider market and to source traffic from far hinterland.

Forbes Container Line Private Limited, a Singapore based 100% subsidiary of Forbes & Company, is the Non Vessel Operating Container Carrier (NVOCC) division of Forbes Patvolk. The company has reputed name within the shipping industry, has large inventory of containers, a world wide network of reputed agents, as well as a professionally managed marketing network. Its services include multimodal transport operations for both LCL groupage and FCL. The inventory includes all types of equipments in all the major ports and inland points of India.

The subsidiary also operates its own fleet of boxes and issues its own fully insured multimodal transport documents.

The logistics services of Forbes & Company is dedicated to providing multi-modal solutions based on customer needs. It also has a tie-up with Yusen through Forbes Yusen Global Logistics network for air cargo shipments world wide.

Business Automation

Forbes Technosys (FTL) is a wholly owned subsidiary of Forbes & Company and a pioneer in transaction management and business automation. FTL has a diverse product portfolio consisting of transaction management solutions, services and networks and products for business automation.

FTL’s key market segments include banking & financial services, insurance, utilities (telecom & power) and central and state government organizations. The company has a pan-India presence with a direct sales network that is focused on key accounts and a channel network of over 100 partners that provide a countrywide footprint to service a customer base of over 25,000 customers. FTL products carry the ‘Bradma’ brand name, which is known for reliability and high service standards. FTL’s partners include global companies like IBM, HP, Epson, Citaq, GoldLeaf, Digital Check Corporation, Francotyp Postalia and TCS.

Transaction Management Offerings

  • Solutions such as image based cheque processing solutions, self service kiosks for banking, telecom, power, airlines and government to citizen services, remote deposit solutions and rural ATMs, setting up electronic stamping and electronic franking networks for collection of stamp duty and postal franking respectively.
  • Under services, the company offers cheque processing service centre in New Delhi for outsourcing of image based cheque processing by banks and system integration services for turnkey deployment of image based cheque processing solutions
  • Under network, the company sets up dedicated self-service kiosk based networks for bill payment collection and a national third party self-service kiosk network for bill payment.

The Business Automation Group (BAG) of FTL is a major supplier of currency counting machines, MICR cheque encoders, currency sorters and counterfeit traceability solutions with over 25,000 satisfied customers for these products. The BAG has a pan-India presence and provides services to its clients through a large nationwide network of channel partners, supplemented by a direct support team.

The BAG is also the market leader in electronic cash registers, point-of-sale systems and solutions, hand-held mobile billing and ticketing solutions and application software for diverse retail environments, viz. restaurants, chain stores, department stores, etc. The group’s clients include all leading public and private sector banks, foreign banks, central and state government departments and leading retail companies.

Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.