Forbes & Company Limited — Quarter ended 31 March 2026 and year ended 31 March 2026
Optional commentary: The document contains both standalone and consolidated audited financial results, along with segment reporting, notes, and cash flow statements.
| Particulars | Quarter ended | Year ended |
|---|---|---|
| 31.03.2026 (Refer Note 12) | 31.12.2025 (Unaudited) | |
| 1 Income | ||
| Revenue from operations | 1,648 | 1,650 |
| Other income | 130 | 125 |
| Total Income | 1,778 | 1,775 |
| 2 Expenses | ||
| Real estate development costs | 136 | 204 |
| Cost of materials consumed | 482 | 442 |
| Purchases of stock-in-trade | – | – |
| Changes in inventories of finished goods, work-in-progress and stock-in-trade | 9 | (1) |
| Employee benefits expense | 338 | 500 |
| Finance costs | 15 | 14 |
| Depreciation and amortisation expense | 125 | 51 |
| Other expenses | 401 | 238 |
| Total expenses | 1,506 | 1,448 |
| 3 Profit before exceptional items and tax | 272 | 327 |
| 4 Exceptional items (Net) (Refer Note 5 below) | – | – |
| 5 Profit before tax from operations | 272 | 327 |
| 6 Tax expense | ||
| Current tax | 4 | 63 |
| (Excess) / short provision for tax of earlier years | – | – |
| Deferred tax | 81 | (20) |
| 85 | 43 | |
| 7 Profit for the period / year (5-6) | 187 | 284 |
| 8 Other Comprehensive Income | ||
| (i) Items that will not be reclassified to Statement of Profit or Loss | ||
| a) Remeasurement of the defined benefit plans | (19) | (16) |
| b) Fair value changes on Equity instruments through other comprehensive income | (2,125) | 585 |
| (ii) Income tax relating to items that will not be reclassified to Statement of Profit or Loss | ||
| a) Deferred Tax Expenses | 315 | (85) |
| Other Comprehensive Income (net of tax) | (1,829) | 484 |
| 9 Total Comprehensive Income / (Loss) for the period / year | (1,642) | 768 |
| 10 Paid-up equity share capital | 1,290 | 1,290 |
| (Face Value of Rs. 10 each) | ||
| 11 Other equity (excluding Revaluation Reserve) | ||
| 12 Basic and diluted earnings per equity share (after exceptional items) | Rs.1.45 | Rs.2.20 |
| Description | Quarter ended 31.03.2026 (Refer Note 12) | Quarter ended 31.12.2025 (Unaudited) | Quarter ended 31.03.2025 (Refer Note 12) | Year ended 31.03.2026 (Audited) | Year ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|
| 1 Segment Revenue | |||||
| (a) Coding and Industrial Automation | 969 | 921 | 755 | 3,576 | 3,134 |
| (b) Real Estate | 679 | 729 | 8,067 | 3,738 | 16,550 |
| Total | 1,648 | 1,650 | 8,822 | 7,314 | 19,684 |
| Less: Inter Segment Revenue | – | – | – | – | – |
| Total revenue from operations (net) | 1,648 | 1,650 | 8,822 | 7,314 | 19,684 |
| 2 Segment Results [Profit / (Loss) before Tax and Interest from each Segment (including exceptional items related to segments)] | |||||
| (a) Coding and Industrial Automation | 53 | 63 | 14 | 185 | (118) |
| (b) Real Estate | 256 | 311 | 1,596 | 1,924 | 4,417 |
| Total segment results | 309 | 374 | 1,610 | 2,109 | 4,299 |
| Less: Finance costs | (15) | (14) | (12) | (60) | (52) |
| Balance | 294 | 360 | 1,598 | 2,049 | 4,247 |
| Add: Unallocable income / (expense) (net) [including exceptional items] | (22) | (33) | (319) | (197) | (467) |
| Profit / (Loss) before tax from operations | 272 | 327 | 1,279 | 1,852 | 3,780 |
| 3 Segment Assets | |||||
| (a) Coding and Industrial Automation | 1,581 | 1,758 | 1,257 | 1,581 | 1,257 |
| (b) Real Estate | 2,958 | 3,082 | 4,161 | 2,958 | 4,161 |
| (c) Unallocated | 16,506 | 18,857 | 17,508 | 16,506 | 17,508 |
| Total Assets | 21,045 | 23,697 | 22,926 | 21,045 | 22,926 |
| 4 Segment liabilities | |||||
| (a) Coding and Industrial Automation | 1,080 | 1,214 | 984 | 1,080 | 984 |
| (b) Real Estate | 2,725 | 3,436 | 4,742 | 2,725 | 4,742 |
| (c) Unallocated | 1,159 | 1,323 | 1,520 | 1,159 | 1,520 |
| Total Liabilities | 4,964 | 5,973 | 7,246 | 4,964 | 7,246 |
| Particulars | As at 31.03.2026 (Audited) | As at 31.03.2025 (Audited) |
|---|---|---|
| Assets | ||
| 1 Non-current assets | ||
| Property, Plant and Equipment | 358 | 262 |
| Right-of-use assets | 490 | 422 |
| Capital work-in-progress | 34 | 10 |
| Investment Properties | 1,809 | 2,014 |
| Other Intangible assets | 3 | 1 |
| Financial Assets: | ||
| i) Investments | 8,943 | 10,169 |
| ii) Loans | 900 | 665 |
| iii) Other financial assets | 256 | 51 |
| 10,099 | 10,885 | |
| Tax assets | ||
| i) Deferred tax assets (net) | 313 | 326 |
| ii) Income tax assets (net) | 179 | 203 |
| 492 | 529 | |
| Other non-current assets | 125 | 209 |
| Total Non-current assets | 13,410 | 14,332 |
| 2 Current assets | ||
| Inventories | 972 | 1,397 |
| Financial Assets: | ||
| i) Investments | 4,036 | 3,442 |
| ii) Trade receivables | 787 | 787 |
| iii) Cash and cash equivalents | 167 | 968 |
| iv) Bank balances other than (ii) above | 1,346 | 1,238 |
| v) Loans | 3 | 1 |
| vi) Other financial assets | 158 | 98 |
| 6,497 | 6,534 | |
| Other current assets | 166 | 663 |
| Total Current assets | 6,663 | 7,197 |
| 7,635 | 8,594 | |
| Total Assets | 21,045 | 22,926 |
| Equity and Liabilities | ||
| Equity | ||
| Equity share capital | 1,290 | 1,290 |
| Other equity | 14,791 | 14,390 |
| Total Equity | 16,081 | 15,680 |
| Liabilities | ||
| 1 Non-current liabilities | ||
| Financial liabilities: | ||
| i) Lease Liabilities | 530 | 484 |
| ii) Other financial liabilities | 293 | 366 |
| 823 | 850 | |
| Provisions | 738 | 818 |
| Total Non-current liabilities | 1,561 | 1,668 |
| 2 Current liabilities | ||
| Financial liabilities: | ||
| i) Borrowings | – | 4 |
| ii) Lease Liabilities | 69 | 13 |
| iii) Trade payables | ||
| a) total outstanding dues of micro enterprises and small enterprises; and | 79 | 125 |
| b) total outstanding dues of creditors other than micro enterprises and small enterprises | 1,300 | 2,240 |
| iv) Other financial liabilities | 948 | 1,041 |
| 2,396 | 3,423 | |
| Other current liabilities | 939 | 2,100 |
| Provisions | 68 | 55 |
| Total Current Liabilities | 3,403 | 5,578 |
| Total Liabilities | 4,964 | 7,246 |
| Total Equity and Liabilities | 21,045 | 22,926 |
| Particulars | Year ended 31.03.2026 (Audited) | Year ended 31.03.2025 (Audited) |
|---|---|---|
| Cash flows from operating activities | ||
| Profit before tax | 1,852 | 3,780 |
| Adjustments for – | ||
| Depreciation and amortisation expense | 284 | 152 |
| Interest income earned on deposits: | ||
| (i) Bank deposits | (122) | (143) |
| (ii) Inter-corporate deposits | (102) | (24) |
| Interest on Income Tax/ Wealth Tax refund | (10) | (24) |
| Finance costs | 60 | 52 |
| Unrealised Foreign Exchange gains / (losses) | 20 | (2) |
| (Gain)/loss on disposal of property, plant and equipment | (501) | (953) |
| Provision for doubtful trade receivables | 62 | 6 |
| Advances written off | – | 1 |
| Trade receivables written off | 18 | 11 |
| Credit balances / excess provision written back | (16) | (108) |
| Dividend / Gain on sale of current investment | (284) | (203) |
| Impairment in the value of investments Forbes Bradma Optimark | – | 250 |
| Unrealised gain / loss from current investment | 41 | (30) |
| Exceptional items: | ||
| – Provision for doubtful loans and advances | – | (48) |
| (550) | (1,015) | |
| – | (48) | |
| (550) | (1,063) | |
| Operating profit before working capital changes | 1,302 | 2,717 |
| Changes in working capital: | ||
| (Increase) / decrease in trade and other receivables | (79) | (134) |
| (Increase) / decrease in inventories | 424 | 10,748 |
| (Increase)/ decrease in other assets | 269 | 1,828 |
| Increase /(decrease) in trade and other payables | (991) | (443) |
| Increase /(decrease) in provisions | (67) | (2) |
| Increase /(decrease) in other liabilities | (1,317) | (16,216) |
| (1,761) | (4,219) | |
| Cash inflow / (outflow) from operations | (459) | (1,502) |
| Income taxes (paid)/ refunds received (net) | (146) | 224 |
| (a) Net cash flow inflow / (outflow) from operating activities | (605) | (1,278) |
| Cash flows from investing activities: | ||
| Payments for property, plant and equipment (net of capital creditors and including capital advances, capital work-in |