Overview

Detailed Summary

Forcas Studio Limited is primarily engaged in manufacturing and selling men's garments including T-shirts, trousers, and more. They operate through their own brand and white-labeling agreements.
The company has shown significant growth, with a 50% increase in overall revenue compared to the previous year, driven by new product categories and expanded e-commerce strategies.
It has also embraced quick commerce with platforms like Zepto, allowing them to deliver winter wear and kurtas within 10 minutes, effectively testing new categories like kurtas in the fast-paced market.
Forcas's recent expansion includes adding new categories such as women's wear and kid's wear, showing robust adaptability and a keen market sense.
The company has strategically enhanced its warehouse capacity, aiming to support fast delivery and increasing demand in major Indian cities.

Sector: Textiles & Apparels
Industry: Garments & Apparels
Market Cap: 178 Cr
Volatility: Low Risk
P/E Ratio: 18.4
Industry P/E: 33.4
PEG Ratio: 0.2
P/B Ratio: 2.8
52W High: 140.00
52W Low: 80.00

Sales CAGR

1Y: 269.83%
3Y: 38.80%
5Y: —
10Y: —

Profit CAGR

1Y: 303.27%
3Y: 120.30%
5Y: —
10Y: —

ROE

TTM: 16.60%
3Y: 12.94%
5Y: 12.38%
10Y: —

ROCE

TTM: 16.59%
3Y: 21.49%
5Y: 21.24%
10Y: —

Technicals

‌

Forecasts

Peers

Consumer Discretionary Textiles Textiles & Apparels Garments & Apparels

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ZODIACLOTH		64.99	207 Cr	-5.41	1.04	0.00	-18.68	-9.91	-9.47
FILATFASH		0.16	200 Cr	—	0.09	0.00	0.34	0.55	0.17
VIPCLOTHNG		23.22	197 Cr	26.69	1.04	0.00	4.69	7.85	2.41
FORCAS		101.00	178 Cr	18.36	2.79	0.00	16.60	16.59	10.53
FIL		219.70	172 Cr	4.16	2.26	0.00	0.00	0.00	17.51
INDTERRAIN		28.29	169 Cr	-25.63	0.92	0.00	-6.67	2.02	-1.41
SDREAMS		77.90	159 Cr	14.84	1.44	0.00	8.34	10.74	5.24
Median: 7 Co.	—	64.99	178 Cr	9.50	1.04	0.00	0.34	2.02	2.41

Financial Statements

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Standalone Half Yearly Results (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025
Sales	29	83	56	87	84
Expenses	27	75	50	78	75
Interest	1.31	2.48	1.58	0.67	0.92
Operating Profit	2.27	7.93	5.15	8.28	8.87
OPM %	7.75	9.55	9.26	9.55	10.60
Other Income	0.33	0.28	0.50	0.30	0.07
Depreciation	0.12	0.14	0.14	0.18	0.15
Profit Before Tax	1.17	5.60	3.92	7.73	7.87
Tax %	34.19	23.75	25.77	26.00	26.18
Net Profit	0.77	4.27	2.91	5.72	5.81
EPS in Rs	—	—	—	—	—

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Feb 2024	Mar 2024	Mar 2025
Sales	51	53	70	24	40	142
Expenses	48	50	67	22	37	129
Operating Profit	2.80	2.94	2.48	2.10	3.45	13
OPM %	5.54	5.53	3.57	8.68	8.53	9.44
Other Income	0.62	0.60	2.02	0.06	0.26	0.80
Interest	2.59	2.50	2.99	0.54	0.92	2.25
Depreciation	0.28	0.27	0.37	0.04	0.07	0.33
Profit Before Tax	0.56	0.78	1.15	1.58	2.72	12
Tax %	-5.09	-2.89	-2.30	25.94	21.40	25.90
Net Profit	0.58	0.81	1.17	1.17	2.14	8.63
EPS in Rs	—	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Feb 2024	Mar 2024	Mar 2025
Equity Capital	7.12	8.31	8.60	13	13	18
Reserves	0.00	0.00	0.00	6.12	7.09	46
Borrowings	24	24	23	29	33	13
Other Liabilities	17	11	7.38	11	13	14
Total Liabilities	49	43	39	59	66	91
Fixed Assets	1.16	1.01	1.38	1.13	1.11	1.70
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	48	42	38	58	65	89
Total Assets	49	43	39	59	66	91

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Feb 2024	Mar 2024	Mar 2025
Cash from Operating Activity	2.54	2.51	5.34	1.37	-40	-10
Cash from Investing Activity	-0.19	-0.11	-0.74	-0.00	-9.64	4.88
Cash from Financing Activity	-2.17	-2.29	-4.81	-1.54	50	13
Net Cash Flow	0.18	0.11	-0.21	-0.17	0.34	8.10

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Apr 2024	Jun 2024	Aug 2024	Sep 2024	Mar 2025	Sep 2025
Promoters	82.17%	82.17%	60.30%	60.30%	60.30%	60.30%
FIIs	0.00%	0.00%	6.27%	2.61%	0.50%	0.00%
DIIs	17.83%	17.83%	5.37%	2.56%	0.62%	0.08%
Public	0.00%	0.00%	28.06%	34.53%	38.58%	39.62%
Total Shareholders	40	40	1,501	887	701	703

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Frequently Asked Questions about Forcas Studio Ltd

Forcas Studio Ltd (FORCAS) is currently trading at 102.90 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Forcas Studio Limited is primarily engaged in manufacturing and selling men's garments including T-shirts, trousers, and more. They operate through their own brand and white-labeling agreements. The company has shown significant growth, with a 50% increase in overall revenue compared to the previous year, driven by new product categories and expanded e-commerce strategies. It has also embraced quick commerce with platforms like Zepto, allowing them to deliver winter wear and kurtas within 10 minutes, effectively testing new categories like kurtas in the fast-paced market. Forcas's recent expansion includes adding new categories such as women's wear and kid's wear, showing robust adaptability and a keen market sense. The company has strategically enhanced its warehouse capacity, aiming to support fast delivery and increasing demand in major Indian cities.

Over the past 52 weeks, Forcas Studio Ltd has traded between a low of ₹80.00 and a high of ₹140.00. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Forcas Studio Ltd has a market capitalization of approximately 177.56. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Forcas Studio Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 18.36 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 177.56 Cr, Forcas Studio Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Forcas Studio Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Forcas Studio Ltd is 18.36. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Forcas Studio Ltd

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