Audited Standalone and Consolidated Financial results for the Quarter and Year ended March 31, 2026 along with Audit Report
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Forbes & Company Limited reported standalone revenue of Rs 7,314 lakhs for FY26, down from Rs 19,684 lakhs in FY25, primarily due to significantly lower real estate development revenue (Rs 1,468 lakhs vs Rs 14,516 lakhs). PAT declined to Rs 1,024 lakhs from Rs 2,693 lakhs, with EPS at Rs 11.41 vs Rs 20.88. The auditors issued an unmodified opinion on both standalone and consolidated results. However, the consolidated audit report contains two Emphasis of Matter paragraphs: (1) a going concern uncertainty for subsidiary Forbes Bradma Optimark Private Limited which incurred a net loss of Rs 50.9 lakhs with accumulated losses of Rs 470.2 lakhs, supported by a comfort letter from the holding company; and (2) the fully-provided investment in Forbes Technosys Limited which entered Corporate Insolvency Resolution Process with liquidation now pending. The company also recognized Rs 164 lakhs as past service cost due to new labour code implementation.
Revenue and profit declined sharply year-on-year due to lower real estate project recognition, though core Coding and Industrial Automation segments showed growth. The auditors flagged going concern issues at a subsidiary and ongoing insolvency proceedings at another entity, requiring shareholder attention despite a clean audit opinion.