Forbes

Mumbai, India Founded: 1767 • Age: 259 yrs Listed
Construction industries are operated in by the diversified conglomerate.
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About Forbes

Forbes is a publicly listed company based in Mumbai (India) founded in 1767. Construction industries are operated in by the diversified conglomerate. It operates on a Professional Services model in Industrial Goods & Manufacturing and Real Estate & Construction sectors. The company has 216 employees. Its Indian entity Forbes & Company Limited reported revenue of ₹90.28 Cr. Forbes offers products and services including Bradma Business and Real Estate Business. Its focus areas include Industrials, Industrial Machinery, Automation Solutions and Real Estate.

Company details

Forbes Company Ltd. is involved in providing industrial automation solutions through its Bradma Business, focusing on reinventing mega factories with advanced technologies. Additionally, the company is active in the real estate sector, redefining urban lifespaces through innovative development projects. Operations are primarily based in India, with a focus on engineering and experience-driven solutions across diverse industries.

Recognitions & Rankings of Forbes

India's Most Valuable Companies 2021 edition · Source: Hurun India
Rank#425
Valuation
₹7,351 Cr
  • Headquarters Mumbai, India
  • Employees 216
  • Stage Public
  • Sectors
    Industrial Goods & Manufacturing
    Real Estate & Construction
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website forbes.co.in
  • Social LinkedIn
  • Legal Name Forbes & Co. Ltd.
Operational Areas
Industrial Goods & Manufacturing → Industrial Automation & Robotics
Real Estate & Construction → Construction & Project Management
Key Metrics
  • Market Cap
    ₹383 Cr

    FORBESCO · BSE

  • Share Price
    ₹282.55

    -4.90% today

  • Revenue
    ₹76.14 Cr

    FY 2025-26 · -61.8% YoY

  • EBITDA
    ₹7.61 Cr

    Margin 10.0%

  • Net Profit
    ₹3.51 Cr

    FY 2025-26 · -96.8% YoY

  • P/E (TTM)
    35.7x

    P/B 1.8x

  • ROE
    1.5%

    ROCE 2.0%

  • Debt / Equity
    0.03

    Interest cover 13.8x

  • Employee Count
    216

Products & Services of Forbes

Forbes offers a comprehensive portfolio of products and services, including Bradma Business and Real Estate Business.

Bradma Business
Industrial Automation

Automation solutions for mega factories are provided here.

Real Estate Business
Real Estate

Urban lifespaces are redefined through innovative development projects.

Board of directors of Forbes & Company Limited (Forbes)

Forbes & Company Limited is the primary company behind Forbes. The board of Forbes & Company Limited currently have 6 directors; the longest-serving is Jai Laxmikant Mavani, appointed in 2012. 28 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Jai Laxmikant Mavani
DIN 05260191
Director22 May 201214 yrs 5 moForbes & Company Limited
Nikhil Jaysinh Bhatia
DIN 00414281
Director16 May 20197 yrs 5 moForbes & Company Limited
Mahesh Chelaram Tahilyani
DIN 01423084
Director01 Apr 20242 yrs 7 moForbes & Company Limited
Paras Khimji Savla
DIN 00516639
Director05 Aug 20242 yrs 3 moForbes & Company Limited
Bapsy Faroukh Dastur
DIN 09623277
Director01 Sep 20242 yrs 2 moForbes & Company Limited
Nirmal Chandmal Jagawat
DIN 01854117
Whole-time director30 Apr 20251 yr 6 moForbes & Company Limited

People of Forbes

9 people are tracked at Forbes (4 in leadership, 5 in team); the tracked headcount is 216.

NameRoleGroup
Mahesh C Tahilyani
Managing DirectorLeadership
Vikram Patwardhan
Head Of Quality Assurance & QMSLeadership
Sonal Gangwani
General ManagerLeadership
Mahesh Tahilyani
CEOLeadership
Mangesh Sonawane
Senior Executive PurchaseTeam
Yogesh Waykar
Sourcing ManagerTeam
Sayali Joshte Lagwankar
International Marketing ManagerTeam
Ram Patil
Senior Executive Human ResourcesTeam
Amol Lad
Senior Sales And Application EngineerTeam
Premium access

Complete people profiles for Forbes

Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.

  • Full employee list
  • Team structure
  • Board tenure
  • Professional contacts

Verified entity values are shown only after access is granted.

IPO & Listings of Forbes

Forbes is a publicly listed company on the BSE with ticker symbol FORBESCO in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date22 May 2000
  • Listed onBSE: 502865
  • Listed entityForbes & Co. Ltd.
  • Exchange sectorProducer manufacturing
  • ISININE518A01013
  • Share price₹275.35 (-1.08% on the day) · 2026-10-14
  • Market capitalisation₹359 Cr
  • Price to earnings29.2
  • EPS (diluted, trailing year)₹9.44
  • Volume (last session)567

Financials of Forbes

Exchange-reported figures of Forbes & Company Limited, the listed company behind Forbes (BSE: FORBESCO).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹76.14 Cr
-61.8% YoY
EBITDA
₹7.61 Cr
-70.7% YoY
Profit After Tax
₹3.51 Cr
-96.8% YoY
Net Worth
₹199 Cr
-9.2% YoY
Total Assets
₹216 Cr
-8.8% YoY
Total Debt
₹6.00 Cr
+16.7% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue76.1419912546.745159322,731
Revenue growth-61.8%+59.6%+167.0%-90.9%-44.8%-65.9%-
EBITDA7.6125.97(23.68)(47.17)(310)(14.78)(192)
EBITDA margin+10.0%+13.0%-19.0%-100.9%-60.3%-1.6%-7.0%
Profit before tax18.19134(2.05)1984,215(56.37)(341)
Net profit3.51110(16.49)(24.50)4,57298.34(121)
Net profit margin+4.6%+55.3%-13.2%-52.4%+888.3%+10.6%-4.4%
EPS (₹)10.4095.17(3.46)148.823,276.21(60.21)(251.66)
Balance sheet
Total assets2162371572443884601,329
Net worth19921914022586.47(103)(54.60)
Total debt6.005.145.048.872884851,104
Cash & bank20.7827.7534.0455.7221.7967.5064.55
Net working capital7.091.15(68.10)37.1044.18(288)(108)
Cash flow
Cash from operations(6.12)(11.21)(20.06)54.58201366229
Cash from investing0.266.590.652169.0364.87(143)
Cash from financing(1.35)(0.65)(6.46)(243)(275)(382)(122)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue18.1213.2617.1917.8018.7022.4588.6840.23
Revenue growth (YoY)-3.1%-40.9%-80.6%-55.8%-46.1%-37.3%--
Other income2.603.661.402.556.225.3497.3110.19
EBITDA3.691.12(0.81)3.022.871.1511.533.48
EBITDA margin+20.4%+8.4%-4.7%+17.0%+15.3%+5.1%+13.0%+8.7%
Depreciation0.580.541.260.520.560.570.410.42
Interest0.130.140.180.160.150.160.130.21
Profit before tax5.584.10(0.85)4.898.385.7610813.04
Tax1.000.501.120.702.050.905.463.54
Net profit4.583.60(1.97)4.196.334.861039.50
EPS (₹)3.602.83(1.55)3.294.973.8280.777.46
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue73.1419712342.43235562195
Revenue growth-62.8%+59.5%+191.0%-82.0%-58.2%+188.6%-
EBITDA9.9823.501.20(18.77)(407)23.77(16.33)
EBITDA margin+13.7%+11.9%+1.0%-44.2%-173.0%+4.2%-8.4%
Profit before tax18.5237.8022.502454,1229.09(25.76)
Net profit5.5314.647.874.0128.59(395)(20.80)
Net profit margin+7.6%+7.4%+6.4%+9.5%+12.2%-70.3%-10.7%
EPS (₹)11.4120.8815.76184.973,204.18(24.06)(19.03)
Balance sheet
Total assets177174139222148331398
Net worth16115712220739.02170202
Total debt5.985.015.035.09102153189
Cash & bank15.1322.0630.2950.719.0024.303.78
Net working capital2.65(4.11)(39.37)63.09(42.48)13.00(51.85)
Cash flow
Cash from operations(6.05)(12.78)(16.84)63.6562.5098.6959.50
Cash from investing(0.67)4.863.26147(16.48)(30.56)(60.39)
Cash from financing(1.29)(0.61)(1.14)(181)(61.62)(48.33)(5.45)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue17.6612.7616.4816.5018.1322.0388.2239.04
Revenue growth (YoY)-2.6%-42.1%-81.3%-57.7%-47.0%-37.7%--
Other income1.223.301.301.255.683.821.619.81
Total expenses14.6211.9313.6613.8315.1320.6176.5336.53
EBITDA3.040.832.822.673.001.4211.692.51
EBITDA margin+17.2%+6.5%+17.1%+16.2%+16.5%+6.4%+13.3%+6.4%
Depreciation0.560.531.250.510.530.550.390.41
Interest0.130.140.150.140.150.160.120.14
Profit before tax3.573.462.723.278.004.5312.7911.77
Tax0.590.390.850.431.960.565.323.37

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 06 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue18.1213.2617.1917.8018.7022.4588.6840.23
Revenue growth (YoY)-3.1%-40.9%-80.6%-55.8%-46.1%-37.3%--
Other income2.603.661.402.556.225.3497.3110.19
EBITDA3.691.12(0.81)3.022.871.1511.533.48
EBITDA margin+20.4%+8.4%-4.7%+17.0%+15.3%+5.1%+13.0%+8.7%
Depreciation0.580.541.260.520.560.570.410.42
Interest0.130.140.180.160.150.160.130.21
Profit before tax5.584.10(0.85)4.898.385.7610813.04
Tax1.000.501.120.702.050.905.463.54
Net profit4.583.60(1.97)4.196.334.861039.50
EPS (₹)3.602.83(1.55)3.294.973.8280.777.46
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue76.1419912546.745159322,731
Revenue growth-61.8%+59.6%+167.0%-90.9%-44.8%-65.9%-
Other income14.1411024.342614,60878.1350.24
Total expenses68.5317314893.918259472,922
Employee cost16.7214.2614.3814.91173214694
EBITDA7.6125.97(23.68)(47.17)(310)(14.78)(192)
EBITDA margin+10.0%+13.0%-19.0%-100.9%-60.3%-1.6%-7.0%
Depreciation2.911.581.625.9141.4468.1398.11
Interest0.650.531.099.8342.0351.59101
Profit before tax18.19134(2.05)1984,215(56.37)(341)
Tax4.7711.312.406.43(10.29)60.24(2.49)
Net profit3.51110(16.49)(24.50)4,57298.34(121)
Net profit margin+4.6%+55.3%-13.2%-52.4%+888.3%+10.6%-4.4%
EPS (₹)10.4095.17(3.46)148.823,276.21(60.21)(251.66)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital12.9012.9012.9912.9916.7950.5046.45
Reserves & surplus18720765.8715070.01(154)(101)
Shareholders' funds (net worth)19921914022586.47(103)(54.60)
Minority interest0.000.000.000.00(0.20)64.4398.50
Secured loans0.000.040.000.00132261722
Unsecured loans6.005.105.048.87157224382
Total debt6.005.145.048.872884851,104
Total liabilities2162371572443884601,329
Assets
Gross block45.3243.6742.151659701,1691,607
Net block26.8027.3927.3628.731585981,027
Capital work in progress0.340.100.000.000.823.5928.95
Investments16420017114511760.16123
Inventories9.8914.56121150202186714
Sundry debtors7.768.366.777.8486.98121407
Cash & bank balances20.7827.7534.0455.7221.7967.5064.55
Loans & advances3.457.9232.96281136913122
Total current assets41.8858.591954944461,2871,307
Total current liabilities34.7957.442634574021,5761,415
Net working capital7.091.15(68.10)37.1044.18(288)(108)
Total assets2162371572443884601,329
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash14.4319.7045.5718.2283.5934.5370.56
Net cash from operating activities(6.12)(11.21)(20.06)54.58201366229
Net cash from investing activities0.266.590.652169.0364.87(143)
Net cash from financing activities(1.35)(0.65)(6.46)(243)(275)(382)(122)
Net change in cash(7.21)(5.27)(25.88)27.35(65.37)49.06(36.03)
Closing cash20.7827.7534.0455.7221.7967.5064.55
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-61.8%+59.6%+167.0%-90.9%-44.8%-65.9%-
EBITDA growth-70.7%+209.7%+49.8%+84.8%-1999.8%+92.3%-
PBT growth-86.4%+9998.0%--95.3%+9998.0%+83.5%-
Net income growth-96.8%+768.4%+32.7%-100.5%+4549.3%+181.3%-
Revenue CAGR (3Y)+17.7%-27.1%-48.9%-74.2%-43.5%-30.9%-3.1%
EBITDA CAGR (3Y)--+17.0%-37.3%---
Profitability & leverage
Net income margin+17.6%+61.6%-3.6%+410.4%+820.8%-12.5%-12.4%
Return on capital employed+2.0%+8.2%0.0%-3.6%+659.1%0.0%0.0%
Return on net worth+1.5%+33.1%0.0%-4.1%+1879.3%0.0%0.0%
Debt / equity0.030.030.040.950.000.008.97
Long-term debt / equity0.020.030.030.250.000.003.69
Interest cover13.832.17-4.31-18.52-11.95-62.22-35.00
Efficiency & per share
Fixed asset turnover1.714.641.210.170.480.671.80
Inventory turnover6.232.930.920.272.652.074.17
Debtors turnover9.4526.3417.080.994.953.536.26
EPS (₹)10.4095.17(3.46)148.823,276.21(60.21)(251.66)
Dividend per share (₹)0.000.000.0065.000.000.000.00
Book value per share (₹)154.82170.4161.07126.6064.28(109.08)(68.09)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue17.6612.7616.4816.5018.1322.0388.2239.04
Revenue growth (YoY)-2.6%-42.1%-81.3%-57.7%-47.0%-37.7%--
Other income1.223.301.301.255.683.821.619.81
Total expenses14.6211.9313.6613.8315.1320.6176.5336.53
EBITDA3.040.832.822.673.001.4211.692.51
EBITDA margin+17.2%+6.5%+17.1%+16.2%+16.5%+6.4%+13.3%+6.4%
Depreciation0.560.531.250.510.530.550.390.41
Interest0.130.140.150.140.150.160.120.14
Profit before tax3.573.462.723.278.004.5312.7911.77
Tax0.590.390.850.431.960.565.323.37
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue73.1419712342.43235562195
Revenue growth-62.8%+59.5%+191.0%-82.0%-58.2%+188.6%-
Other income12.0516.4424.142704,55413.3714.51
Total expenses63.1617312261.20642539211
Employee cost15.8914.1414.2612.7448.8042.3847.08
EBITDA9.9823.501.20(18.77)(407)23.77(16.33)
EBITDA margin+13.7%+11.9%+1.0%-44.2%-173.0%+4.2%-8.4%
Depreciation2.841.521.581.7313.0814.2912.10
Interest0.670.621.264.9712.3513.7611.84
Profit before tax18.5237.8022.502454,1229.09(25.76)
Tax3.8010.872.175.93(10.59)40.13(1.23)
Net profit5.5314.647.874.0128.59(395)(20.80)
Net profit margin+7.6%+7.4%+6.4%+9.5%+12.2%-70.3%-10.7%
EPS (₹)11.4120.8815.76184.973,204.18(24.06)(19.03)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital12.9012.9012.9012.9012.9012.9012.90
Reserves & surplus14814410919426.12157189
Shareholders' funds (net worth)16115712220739.02170202
Secured loans0.000.040.000.0099.21150179
Unsecured loans5.984.975.035.092.743.6710.11
Total debt5.985.015.035.09102153189
Total liabilities177174139222148331398
Assets
Gross block40.6439.7138.7639.86174170171
Net block26.6026.9927.0828.58117118132
Capital work in progress0.340.100.000.000.821.981.29
Investments13013612810536.61167242
Inventories9.7213.97121149163133362
Sundry debtors7.877.876.706.8731.4434.5225.07
Cash & bank balances15.1322.0630.2950.719.0024.303.78
Loans & advances3.287.6125.0016263.3617.8223.67
Total current assets36.0051.51183369267210414
Total current liabilities33.3555.62223306310197466
Net working capital2.65(4.11)(39.37)63.09(42.48)13.00(51.85)
Total assets177174139222148331398
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash9.6818.2032.936.1121.711.918.24
Net cash from operating activities(6.05)(12.78)(16.84)63.6562.5098.6959.50
Net cash from investing activities(0.67)4.863.26147(16.48)(30.56)(60.39)
Net cash from financing activities(1.29)(0.61)(1.14)(181)(61.62)(48.33)(5.45)
Net change in cash(8.02)(8.52)(14.72)30.15(15.59)19.80(6.34)
Closing cash15.1322.0630.2950.719.0024.303.78
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-62.8%+59.5%+191.0%-82.0%-58.2%+188.6%-
EBITDA growth-57.5%+1858.3%+106.4%+95.4%-1810.9%+245.6%-
PBT growth-51.0%+68.0%-90.8%-94.1%-+9998.0%-
Net income growth-62.2%+86.0%+96.3%-86.0%+107.2%-1799.4%-
Revenue CAGR (3Y)+19.9%-5.7%-39.7%-39.8%+1.2%+24.2%-9.9%
EBITDA CAGR (3Y)---63.0%+4.8%--25.8%-
Profitability & leverage
Net income margin+20.1%+13.7%+16.5%+562.4%+1758.3%-5.5%-12.6%
Return on capital employed+6.5%+18.5%+5.6%-5.7%+12.7%0.0%-2.5%
Return on net worth+5.2%+14.4%+4.8%+3.3%+27.3%0.0%-9.6%
Debt / equity0.030.040.030.441.220.920.82
Long-term debt / equity0.030.040.030.250.550.350.30
Interest cover9.382.82-331.58-24.24-2.94145.15-41.65
Efficiency & per share
Fixed asset turnover1.825.023.140.401.373.301.39
Inventory turnover6.172.910.910.271.582.270.60
Debtors turnover9.2927.0218.192.227.1318.875.89
EPS (₹)11.4120.8815.76184.973,204.18(24.06)(19.03)
Dividend per share (₹)0.000.000.0065.000.000.000.00
Book value per share (₹)124.67121.5694.54160.3730.25132.02156.34

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Frequently Asked Questions about Forbes

Forbes was founded in 1767.

Forbes is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

Forbes has 216 employees.

The primary company behind Forbes, Forbes & Company Limited, reported revenue of ₹90.28 Cr for FY 0000, down 62% year on year.

Forbes Company Ltd. is involved in providing industrial automation solutions through its Bradma Business, focusing on reinventing mega factories with advanced technologies. Additionally, the company is active in the real estate sector, redefining urban lifespaces through innovative development projects. Operations are primarily based in India, with a focus on engineering and experience-driven solutions across diverse industries.

Forbes offers Bradma Business and Real Estate Business.

Yes, Forbes is publicly traded on BSE under the ticker symbol FORBESCO.

Forbes operates through Forbes & Company Limited.

The legal entities of Forbes currently have 8 directors, including Mahesh Chelaram Tahilyani, Nirmal Chandmal Jagawat, Jai Laxmikant Mavani and others.

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