About Forefront Capital Management
Forefront Capital Management is a publicly listed company based in Mumbai (India) founded in 2009, and was acquired by Edelweiss in May 2014. Mutual funds investments are facilitated via an online trading platform. The company has 146 employees. Its Indian entity Edelweiss Financial Services Limited reported revenue of βΉ10,888 Cr. The company was acqui-hired. Its focus areas include FinTech, Investment Tech, Online Trading Platforms and Public Market Funds. Its competitors include FundsIndia, Kuvera and AssetPlus; 3 of its 3 listed competitors have raised funding.
Company details
Forefront Capital Management was established in 2009 in Mumbai, India. Operations focus on the financial services sector, with an online trading platform used to provide access to mutual funds including equity, hybrid, debt, international, passive equity, and passive debt options. Financial advisory services are extended to investors. Portfolio management is supported through a mobile application available on iOS and Android devices.
- Headquarters Mumbai, India
- Employees 146
- Stage Public
- SectorsTechnology
- Website forefrontcap.com
- Social X
- Acquired by Edelweiss (May 2014)
- Legal Name Edelweiss Financial Services Limited
- Date of Incorporation 21 Nov, 1995
- Jurisdiction Mumbai, Maharashtra, India
- Market Cap₹11,774 Cr
EDELWEISS · NSE
- Share Price₹119.77
-3.71% today
- Revenue₹10,802 Cr
FY 2025-26 · +15.0% YoY
- EBITDA₹3,377 Cr
Margin 31.3%
- Net Profit₹666 Cr
FY 2025-26 · +66.9% YoY
- P/E (TTM)19.2x
P/B 2.6x
- ROE16.7%
ROCE 14.8%
- Debt / Equity4.05
Interest cover 77.1x
- Investors
- Employee Count146
- Acquired byEdelweiss
(May 2014)
Associated legal entities of Forefront Capital Management
Forefront Capital Management is associated with 2 registered companies on The Company Check; the primary company is Edelweiss Financial Services Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Edelweiss Financial Services Limited Listed CIN L99999MH1995PLC094641 | Active | 21 Nov 1995 | Mumbai, Maharashtra | ₹10,888 Cr | 24 | 9 | View details |
| Edelweiss Multi Strategy Funds Management Private Limited CIN U67120MH2009PTC194273 | Amalgamated | 21 Jul 2009 | Mumbai, Maharashtra | ₹31.9 Cr | 24 | 6 | View details |
Investors in Forefront Capital Management
Forefront Capital Management has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Edelweiss.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Mutual funds, equity, and private market trading is enabled online. | edelweiss.in | Mumbai, India |
Investor details for Forefront Capital Management
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Edelweiss Financial Services Limited (Forefront Capital Management)
Edelweiss Financial Services Limited is the primary company behind Forefront Capital Management. The boards of the 2 registered companies of Forefront Capital Management currently have 11 directors; the longest-serving is Rashesh Chandrakant Shah, appointed in 1995. 35 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Rashesh Chandrakant Shah DIN 00008322 | Managing Director | 21 Nov 1995 | 30 yrs 11 mo | Edelweiss Financial Services Limited |
| Venkatchalam Arakoni Ramaswamy DIN 00008509 | Director | 20 Feb 1996 | 30 yrs 8 mo | Edelweiss Financial Services Limited |
| Nikhil Johari DIN 01960539 | Director | 30 Apr 2014 | 12 yrs 5 mo | Edelweiss Multi Strategy Funds Management Private Limited |
| Vidya Shah DIN 00274831 | Director | 01 Aug 2014 | 12 yrs 2 mo | Edelweiss Financial Services Limited |
| Anurag Madan DIN 00010324 | Director | 13 May 2015 | 11 yrs 5 mo | Edelweiss Multi Strategy Funds Management Private Limited |
| Nalin Luis Moniz DIN 02655536 | Director | 27 Jul 2016 | 10 yrs 2 mo | Edelweiss Multi Strategy Funds Management Private Limited |
| Rashida Aliakbar Kalolwala DIN 02262863 | Manager | 01 Dec 2016 | 9 yrs 10 mo | Edelweiss Multi Strategy Funds Management Private Limited |
| Ashima Goyal DIN 00233635 | Director | 01 Apr 2019 | 7 yrs 6 mo | Edelweiss Financial Services Limited |
| Shiva Kumar DIN 06590343 | Director | 04 Aug 2022 | 4 yrs 2 mo | Edelweiss Financial Services Limited |
| Balagopal Chandrasekhar DIN 00430938 | Director | 02 Aug 2024 | 2 yrs 2 mo | Edelweiss Financial Services Limited |
| Rajiv Jalota DIN 00152021 | Director | 30 Apr 2026 | 5 mo | Edelweiss Financial Services Limited |
IPO & Listings of Forefront Capital Management
Forefront Capital Management is a publicly listed company on the NSE with ticker symbol EDELWEISS in India, operating in the Finance 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.
- Listed onNSE: EDELWEISS
- Listed entityEdelweiss Financial Services Limited
- Exchange sectorFinance
Financials of Forefront Capital Management
Exchange-reported figures of Edelweiss Financial Services Limited, the listed company behind Forefront Capital Management (NSE: EDELWEISS).
Financial Highlights
FY 2025-26 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 10,802 | 9,393 | 9,523 | 8,500 | 7,151 | 10,775 | 9,513 |
| Revenue growth | +15.0% | -1.4% | +12.0% | +18.9% | -33.6% | +13.3% | - |
| EBITDA | 3,377 | 3,360 | 3,271 | 2,833 | 3,204 | 4,166 | 2,479 |
| EBITDA margin | +31.3% | +35.8% | +34.4% | +33.3% | +44.8% | +38.7% | +26.1% |
| Profit before tax | 827 | 802 | 437 | 385 | 227 | 146 | (2,457) |
| Net profit | 666 | 399 | 421 | 344 | 189 | 265 | (2,045) |
| Net profit margin | +6.2% | +4.3% | +4.4% | +4.1% | +2.6% | +2.5% | -21.5% |
| EPS (βΉ) | 5.78 | 4.33 | 4.68 | 3.83 | 2.10 | 2.98 | (22.99) |
| Balance sheet | |||||||
| Total assets | 24,539 | 23,923 | 26,407 | 29,638 | 30,360 | 36,113 | 43,864 |
| Net worth | 4,623 | 4,425 | 4,762 | 6,744 | 6,537 | 6,577 | 6,129 |
| Total debt | 18,595 | 18,004 | 20,358 | 21,791 | 22,768 | 28,436 | 36,657 |
| Cash & bank | 3,480 | 5,241 | 3,331 | 3,699 | 3,039 | 4,760 | 8,610 |
| Net working capital | (8,888) | (8,602) | (9,556) | (7,299) | (6,342) | (1,760) | 2,411 |
| Cash flow | |||||||
| Cash from operations | 897 | 3,384 | 2,894 | 2,891 | 5,592 | 3,458 | 12,098 |
| Cash from investing | (963) | 3,794 | (482) | (425) | (1,058) | 4,085 | 199 |
| Cash from financing | (1,936) | (4,828) | (2,785) | (1,708) | (6,444) | (8,587) | (10,471) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,328 | 1,918 | 4,400 | 1,861 | 2,246 | 2,280 | 1,898 | 2,795 |
| Revenue growth (YoY) | +3.7% | -15.9% | +131.9% | -33.4% | -2.1% | - | - | - |
| Other income | 124 | 69.25 | 319 | 38.90 | 35.43 | 63.14 | 98.95 | 46.88 |
| EBITDA | 593 | 498 | 1,100 | 606 | 797 | 727 | 730 | 981 |
| EBITDA margin | +25.5% | +26.0% | +25.0% | +32.6% | +35.5% | +31.9% | +38.6% | +35.2% |
| Depreciation | 35.87 | 34.71 | 37.39 | 35.70 | 35.81 | 43.21 | 34.39 | 35.98 |
| Interest | 558 | 561 | 589 | 655 | 686 | 550 | 613 | 673 |
| Profit before tax | 123 | (29.02) | 792 | (46.27) | 110 | 196 | 181 | 319 |
| Tax | (11.80) | (161) | 522 | (222) | 7.70 | 38.00 | 26.11 | 182 |
| Net profit | 134 | 132 | 270 | 175 | 103 | 158 | 155 | 137 |
| EPS (βΉ) | 1.40 | 1.39 | 2.83 | 1.85 | 1.10 | 1.14 | 1.68 | 1.51 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 548 | 339 | (129) | 3,089 | 1,368 | 1,715 | 223 |
| Revenue growth | +61.6% | +363.7% | -104.2% | +125.8% | -20.2% | +668.3% | - |
| EBITDA | 589 | 246 | (314) | 2,618 | 1,065 | 786 | 94.22 |
| EBITDA margin | +107.3% | +72.5% | +243.7% | +84.8% | +77.8% | +45.8% | +42.2% |
| Profit before tax | 482 | (54.27) | 516 | 2,315 | 855 | 694 | 81.02 |
| Net profit | 448 | (51.92) | 695 | 2,388 | 933 | 717 | 84.05 |
| Net profit margin | +81.8% | -15.3% | -540.1% | +77.3% | +68.2% | +41.8% | +37.7% |
| EPS (βΉ) | 4.73 | (0.56) | 7.73 | 26.58 | 10.39 | 8.04 | 0.93 |
| Balance sheet | |||||||
| Total assets | 10,052 | 8,590 | 8,431 | 9,844 | 7,432 | 4,964 | 3,601 |
| Net worth | 6,067 | 5,517 | 5,463 | 7,255 | 5,000 | 4,126 | 3,455 |
| Total debt | 3,985 | 3,072 | 2,968 | 2,589 | 2,432 | 838 | 147 |
| Cash & bank | 43.89 | 4.61 | 47.05 | 139 | 516 | 149 | 2.32 |
| Net working capital | 138 | 61.99 | (197) | (459) | 182 | (704) | 101 |
| Cash flow | |||||||
| Cash from operations | (120) | (518) | (1,266) | (329) | (589) | 117 | 39.97 |
| Cash from investing | (444) | 604 | 1,265 | 285 | (377) | (570) | 221 |
| Cash from financing | 603 | (128) | (87.90) | (284) | 1,280 | 599 | (270) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 245 | 130 | 129 | 122 | 166 | 110 | 105 | 148 |
| Revenue growth (YoY) | +47.8% | +18.2% | +23.1% | -17.6% | +750.6% | - | - | - |
| Other income | 0.25 | 0.89 | 281 | 0.00 | 1.30 | 1.08 | 41.88 | 2.08 |
| Total expenses | 39.62 | (124) | 52.50 | 23.52 | 7.93 | 17.94 | 20.80 | 40.03 |
| EBITDA | 205 | 255 | 76.94 | 98.60 | 158 | 92.41 | 84.39 | 108 |
| EBITDA margin | +83.8% | +195.3% | +59.4% | +80.7% | +95.2% | +83.7% | +80.2% | +73.0% |
| Depreciation | 0.04 | 0.05 | 0.04 | 0.05 | 0.05 | 0.07 | 0.06 | 0.05 |
| Interest | 106 | 102 | 103 | 95.84 | 88.36 | 84.12 | 101 | 81.50 |
| Profit before tax | 99.02 | 153 | 255 | 2.71 | 70.46 | 9.30 | 25.47 | 28.77 |
| Tax | 29.14 | (8.94) | 68.39 | (30.12) | 5.12 | 10.95 | 16.24 | (0.40) |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,328 | 1,918 | 4,400 | 1,861 | 2,246 | 2,280 | 1,898 | 2,795 |
| Revenue growth (YoY) | +3.7% | -15.9% | +131.9% | -33.4% | -2.1% | - | - | - |
| Other income | 124 | 69.25 | 319 | 38.90 | 35.43 | 63.14 | 98.95 | 46.88 |
| EBITDA | 593 | 498 | 1,100 | 606 | 797 | 727 | 730 | 981 |
| EBITDA margin | +25.5% | +26.0% | +25.0% | +32.6% | +35.5% | +31.9% | +38.6% | +35.2% |
| Depreciation | 35.87 | 34.71 | 37.39 | 35.70 | 35.81 | 43.21 | 34.39 | 35.98 |
| Interest | 558 | 561 | 589 | 655 | 686 | 550 | 613 | 673 |
| Profit before tax | 123 | (29.02) | 792 | (46.27) | 110 | 196 | 181 | 319 |
| Tax | (11.80) | (161) | 522 | (222) | 7.70 | 38.00 | 26.11 | 182 |
| Net profit | 134 | 132 | 270 | 175 | 103 | 158 | 155 | 137 |
| EPS (βΉ) | 1.40 | 1.39 | 2.83 | 1.85 | 1.10 | 1.14 | 1.68 | 1.51 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 10,802 | 9,393 | 9,523 | 8,500 | 7,151 | 10,775 | 9,513 |
| Revenue growth | +15.0% | -1.4% | +12.0% | +18.9% | -33.6% | +13.3% | - |
| Other income | 85.81 | 126 | 78.56 | 264 | 158 | 73.83 | 89.32 |
| Total expenses | 7,425 | 6,033 | 6,252 | 5,667 | 3,947 | 6,609 | 7,034 |
| Employee cost | 1,370 | 1,318 | 1,243 | 1,065 | 1,064 | 1,616 | 1,407 |
| EBITDA | 3,377 | 3,360 | 3,271 | 2,833 | 3,204 | 4,166 | 2,479 |
| EBITDA margin | +31.3% | +35.8% | +34.4% | +33.3% | +44.8% | +38.7% | +26.1% |
| Depreciation | 144 | 147 | 126 | 138 | 151 | 260 | 232 |
| Interest | 2,492 | 2,537 | 2,786 | 2,575 | 2,984 | 3,834 | 4,793 |
| Profit before tax | 827 | 802 | 437 | 385 | 227 | 146 | (2,457) |
| Tax | 147 | 266 | (90.65) | (20.83) | 15.30 | (108) | (413) |
| Net profit | 666 | 399 | 421 | 344 | 189 | 265 | (2,045) |
| Net profit margin | +6.2% | +4.3% | +4.4% | +4.1% | +2.6% | +2.5% | -21.5% |
| EPS (βΉ) | 5.78 | 4.33 | 4.68 | 3.83 | 2.10 | 2.98 | (22.99) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 94.65 | 92.14 | 89.89 | 89.84 | 89.82 | 89.09 | 88.95 |
| Reserves & surplus | 4,528 | 4,333 | 4,672 | 6,654 | 6,448 | 6,488 | 6,040 |
| Shareholders' funds (net worth) | 4,623 | 4,425 | 4,762 | 6,744 | 6,537 | 6,577 | 6,129 |
| Minority interest | 1,321 | 1,493 | 1,287 | 1,102 | 1,055 | 1,100 | 1,078 |
| Secured loans | 3,140 | 4,387 | 4,741 | 4,986 | 5,655 | 9,432 | 13,430 |
| Unsecured loans | 15,455 | 13,617 | 15,617 | 16,805 | 17,113 | 19,004 | 23,227 |
| Total debt | 18,595 | 18,004 | 20,358 | 21,791 | 22,768 | 28,436 | 36,657 |
| Total liabilities | 24,539 | 23,923 | 26,407 | 29,638 | 30,360 | 36,113 | 43,864 |
| Assets | |||||||
| Gross block | 1,963 | 2,063 | 1,994 | 2,024 | 2,140 | 2,224 | 2,729 |
| Net block | 1,142 | 1,271 | 1,290 | 1,367 | 1,597 | 1,781 | 2,345 |
| Capital work in progress | 21.24 | 18.49 | 36.12 | 24.77 | 19.63 | 13.21 | 43.24 |
| Investments | 19,881 | 17,574 | 18,491 | 17,162 | 14,139 | 12,882 | 10,012 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 43.61 |
| Sundry debtors | 478 | 394 | 358 | 413 | 469 | 506 | 1,305 |
| Cash & bank balances | 3,480 | 5,241 | 3,331 | 3,699 | 3,039 | 4,760 | 8,610 |
| Loans & advances | 5,652 | 3,124 | 3,063 | 2,833 | 2,853 | 2,995 | 2,604 |
| Total current assets | 9,610 | 8,758 | 6,752 | 6,945 | 6,361 | 8,261 | 12,563 |
| Total current liabilities | 18,498 | 17,360 | 16,307 | 14,244 | 12,703 | 10,021 | 10,152 |
| Net working capital | (8,888) | (8,602) | (9,556) | (7,299) | (6,342) | (1,760) | 2,411 |
| Total assets | 24,539 | 23,923 | 26,407 | 29,638 | 30,360 | 36,113 | 43,864 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 4,723 | 2,373 | 2,746 | 1,989 | 3,899 | 4,943 | 3,116 |
| Net cash from operating activities | 897 | 3,384 | 2,894 | 2,891 | 5,592 | 3,458 | 12,098 |
| Net cash from investing activities | (963) | 3,794 | (482) | (425) | (1,058) | 4,085 | 199 |
| Net cash from financing activities | (1,936) | (4,828) | (2,785) | (1,708) | (6,444) | (8,587) | (10,471) |
| Net change in cash | (2,002) | 2,350 | (373) | 757 | (1,910) | (1,044) | 1,827 |
| Closing cash | 3,480 | 5,241 | 3,331 | 3,699 | 3,039 | 4,760 | 8,610 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +15.0% | -1.4% | +12.0% | +18.9% | -33.6% | +13.3% | - |
| EBITDA growth | +0.5% | +2.7% | +15.5% | -11.6% | -23.1% | +68.0% | - |
| PBT growth | +3.2% | +83.3% | +13.7% | +69.2% | +56.1% | +9998.0% | - |
| Net income growth | +66.9% | -5.2% | +22.2% | +82.3% | -28.9% | +113.0% | - |
| Revenue CAGR (3Y) | +8.3% | +9.5% | -4.0% | -3.7% | -13.6% | +6.7% | +12.9% |
| EBITDA CAGR (3Y) | +6.0% | +1.6% | -7.7% | +4.6% | -21.3% | -7.6% | -13.6% |
| Profitability & leverage | |||||||
| Net income margin | +6.3% | +5.7% | +5.5% | +4.8% | +3.0% | +2.4% | -21.5% |
| Return on capital employed | +14.8% | +13.7% | +11.8% | +10.2% | +10.0% | +10.2% | 0.0% |
| Return on net worth | +16.7% | +10.1% | +8.5% | +6.1% | +3.2% | +4.0% | 0.0% |
| Debt / equity | 4.05 | 4.18 | 3.66 | 3.35 | 3.90 | 5.12 | 6.00 |
| Long-term debt / equity | 3.94 | 3.92 | 3.33 | 3.08 | 3.64 | 4.75 | 5.49 |
| Interest cover | 77.06 | 78.96 | 88.59 | 95.53 | 97.74 | 98.16 | 213.30 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 5.41 | 4.69 | 4.78 | 4.21 | 3.35 | 4.35 | 4.56 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 497.54 | 90.28 |
| Debtors turnover | 24.97 | 25.34 | 24.91 | 19.86 | 14.99 | 11.98 | 4.73 |
| EPS (βΉ) | 5.78 | 4.33 | 4.68 | 3.83 | 2.10 | 2.98 | (22.99) |
| Dividend per share (βΉ) | 1.50 | 1.50 | 1.50 | 1.50 | 1.45 | 1.45 | 0.00 |
| Book value per share (βΉ) | 48.84 | 48.02 | 52.98 | 75.07 | 72.78 | 73.82 | 68.90 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 245 | 130 | 129 | 122 | 166 | 110 | 105 | 148 |
| Revenue growth (YoY) | +47.8% | +18.2% | +23.1% | -17.6% | +750.6% | - | - | - |
| Other income | 0.25 | 0.89 | 281 | 0.00 | 1.30 | 1.08 | 41.88 | 2.08 |
| Total expenses | 39.62 | (124) | 52.50 | 23.52 | 7.93 | 17.94 | 20.80 | 40.03 |
| EBITDA | 205 | 255 | 76.94 | 98.60 | 158 | 92.41 | 84.39 | 108 |
| EBITDA margin | +83.8% | +195.3% | +59.4% | +80.7% | +95.2% | +83.7% | +80.2% | +73.0% |
| Depreciation | 0.04 | 0.05 | 0.04 | 0.05 | 0.05 | 0.07 | 0.06 | 0.05 |
| Interest | 106 | 102 | 103 | 95.84 | 88.36 | 84.12 | 101 | 81.50 |
| Profit before tax | 99.02 | 153 | 255 | 2.71 | 70.46 | 9.30 | 25.47 | 28.77 |
| Tax | 29.14 | (8.94) | 68.39 | (30.12) | 5.12 | 10.95 | 16.24 | (0.40) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 548 | 339 | (129) | 3,089 | 1,368 | 1,715 | 223 |
| Revenue growth | +61.6% | +363.7% | -104.2% | +125.8% | -20.2% | +668.3% | - |
| Other income | 283 | 43.98 | 1,156 | 0.02 | 4.45 | 6.78 | 22.33 |
| Total expenses | (40.26) | 93.32 | 185 | 471 | 303 | 929 | 129 |
| Employee cost | 23.14 | 34.20 | 34.72 | 33.42 | 42.63 | 191 | 79.77 |
| EBITDA | 589 | 246 | (314) | 2,618 | 1,065 | 786 | 94.22 |
| EBITDA margin | +107.3% | +72.5% | +243.7% | +84.8% | +77.8% | +45.8% | +42.2% |
| Depreciation | 0.19 | 0.23 | 0.33 | 0.36 | 0.35 | 1.40 | 3.22 |
| Interest | 389 | 344 | 327 | 303 | 214 | 97.33 | 32.31 |
| Profit before tax | 482 | (54.27) | 516 | 2,315 | 855 | 694 | 81.02 |
| Tax | 34.45 | (2.35) | (180) | (73.59) | (78.62) | (22.30) | (3.03) |
| Net profit | 448 | (51.92) | 695 | 2,388 | 933 | 717 | 84.05 |
| Net profit margin | +81.8% | -15.3% | -540.1% | +77.3% | +68.2% | +41.8% | +37.7% |
| EPS (βΉ) | 4.73 | (0.56) | 7.73 | 26.58 | 10.39 | 8.04 | 0.93 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 94.65 | 92.14 | 89.89 | 89.84 | 89.82 | 89.09 | 88.95 |
| Reserves & surplus | 5,972 | 5,425 | 5,373 | 7,165 | 4,910 | 4,037 | 3,366 |
| Shareholders' funds (net worth) | 6,067 | 5,517 | 5,463 | 7,255 | 5,000 | 4,126 | 3,455 |
| Secured loans | 3,933 | 3,072 | 2,808 | 2,589 | 2,432 | 729 | 0.00 |
| Unsecured loans | 51.93 | 0.00 | 160 | 0.00 | 0.00 | 109 | 147 |
| Total debt | 3,985 | 3,072 | 2,968 | 2,589 | 2,432 | 838 | 147 |
| Total liabilities | - | - | 8,431 | 9,844 | 7,432 | 4,964 | 3,601 |
| Assets | |||||||
| Gross block | 26.15 | 27.47 | 9.44 | 9.76 | 9.62 | 10.12 | 12.93 |
| Net block | 18.23 | 18.56 | 0.69 | 1.03 | 0.66 | 0.71 | 2.52 |
| Capital work in progress | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.92 |
| Investments | 5,726 | 5,031 | 4,608 | 7,210 | 4,963 | 4,382 | 3,467 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 18.58 | 36.70 | 15.45 | 30.56 | 12.36 | 19.10 | 31.68 |
| Cash & bank balances | 43.89 | 4.61 | 47.05 | 139 | 516 | 149 | 2.32 |
| Loans & advances | 222 | 177 | 189 | 246 | 264 | 145 | 145 |
| Total current assets | 284 | 218 | 252 | 416 | 792 | 313 | 179 |
| Total current liabilities | 146 | 156 | 448 | 875 | 610 | 1,017 | 78.05 |
| Net working capital | 138 | 61.99 | (197) | (459) | 182 | (704) | 101 |
| Total assets | 10,052 | 8,590 | 8,431 | 9,844 | 7,432 | 4,964 | 3,601 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 3.54 | 46.10 | 135 | 462 | 148 | 1.37 | 11.00 |
| Net cash from operating activities | (120) | (518) | (1,266) | (329) | (589) | 117 | 39.97 |
| Net cash from investing activities | (444) | 604 | 1,265 | 285 | (377) | (570) | 221 |
| Net cash from financing activities | 603 | (128) | (87.90) | (284) | 1,280 | 599 | (270) |
| Net change in cash | 39.49 | (42.56) | (88.91) | (327) | 314 | 147 | (9.63) |
| Closing cash | 43.89 | 4.61 | 47.05 | 139 | 516 | 149 | 2.32 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +61.6% | +363.7% | -104.2% | +125.8% | -20.2% | +668.3% | - |
| EBITDA growth | +139.2% | +178.5% | -112.0% | +145.8% | +35.5% | +734.1% | - |
| PBT growth | +9998.0% | - | -77.7% | +170.8% | +23.2% | +756.5% | -23.5% |
| Net income growth | +963.7% | -107.5% | -70.9% | +155.9% | +30.2% | +753.0% | - |
| Revenue CAGR (3Y) | -43.8% | -37.2% | - | +140.1% | +65.3% | +59.8% | -20.9% |
| EBITDA CAGR (3Y) | -39.2% | -38.6% | - | +202.9% | +113.9% | +50.1% | -31.0% |
| Profitability & leverage | |||||||
| Net income margin | +81.6% | -15.3% | -540.1% | +77.3% | +68.2% | +41.8% | +37.7% |
| Return on capital employed | +9.4% | +3.4% | +9.2% | +30.3% | +17.3% | +18.5% | +3.1% |
| Return on net worth | +7.7% | -1.0% | +10.9% | +39.0% | +20.5% | +18.9% | +2.4% |
| Debt / equity | 0.61 | 0.55 | 0.44 | 0.41 | 0.36 | 0.13 | 0.08 |
| Long-term debt / equity | 0.60 | 0.55 | 0.44 | 0.41 | 0.36 | 0.12 | 0.06 |
| Interest cover | 66.13 | 139.96 | -104.11 | 11.57 | 20.13 | 12.41 | 35.51 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 31.00 | 20.78 | 107.05 | 318.75 | 139.05 | 149.40 | 28.01 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 30.07 | 14.70 | 44.67 | 143.93 | 87.25 | 67.82 | 5.82 |
| EPS (βΉ) | 4.73 | (0.56) | 7.73 | 26.58 | 10.39 | 8.04 | 0.93 |
| Dividend per share (βΉ) | 1.50 | 1.50 | 1.50 | 1.50 | 1.45 | 1.45 | 0.00 |
| Book value per share (βΉ) | 64.09 | 59.88 | 60.77 | 80.76 | 55.67 | 46.31 | 38.84 |
Timeline of Forefront Capital Management
2 dated milestones of Forefront Capital Management across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Forefront Capital Management is founded.
- Exit Acquired by Edelweiss.
Competitors of Forefront Capital Management
Forefront Capital Management has 3 listed competitors in our database, 3 of them funded. They include FundsIndia, Kuvera and AssetPlus.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| fundsindia.com | 2008 | Chennai, India | $16.64M | 881 | Online investment platform for mutual funds and other financial products | |
| kuvera.in | 2016 | Bengaluru, India | $10.11M | 82 | Mutual fund portfolios are created via an app-based investment platform. | |
| assetplus.in | 2016 | Chennai, India | $12.85M | 178 | Mutual fund investments are enabled via advisor-assisted diversified plans. |
Detailed competitors of Forefront Capital Management
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Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Forefront Capital Management (Investment & Financial Technology) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 |
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Related news about Forefront Capital Management
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Frequently Asked Questions about Forefront Capital Management
Forefront Capital Management was founded in 2009.
Forefront Capital Management is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Forefront Capital Management has 146 employees.
The primary company behind Forefront Capital Management, Edelweiss Financial Services Limited, reported revenue of βΉ10,888 Cr for FY 2026, up 15% year on year.
Forefront Capital Management was established in 2009 in Mumbai, India. Operations focus on the financial services sector, with an online trading platform used to provide access to mutual funds including equity, hybrid, debt, international, passive equity, and passive debt options. Financial advisory services are extended to investors. Portfolio management is supported through a mobile application available on iOS and Android devices.
Forefront Capital Management's top competitors include FundsIndia, AssetPlus and Kuvera.
Yes, Forefront Capital Management is publicly traded on NSE under the ticker symbol EDELWEISS.
Forefront Capital Management has 1 investor. Key investors include Edelweiss.
Forefront Capital Management is associated with 2 legal entities: Edelweiss Financial Services Limited, Edelweiss Multi Strategy Funds Management Private Limited.
Yes. Forefront Capital Management was acquired by Edelweiss in May 2014.
The legal entities of Forefront Capital Management currently have 15 directors, including Anurag Madan, Nalin Luis Moniz, Rashida Aliakbar Kalolwala and others.

