Unaudited Standalone and Consolidated Financial Results for the Quarter and Nine Months ended December 31, 2025
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On the reaction day the stock moved 5.8 pts less than Nifty Microcap 250 and 6.0 pts less than its Household Appliances peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Forbes & Company reported weak Q3 FY26 results with standalone revenue from operations falling ~58% year-on-year to Rs. 1,650 lakhs and standalone profit after tax dropping ~66% to Rs. 284 lakhs. For the nine months ended December 2025, standalone revenue fell ~48% to Rs. 5,666 lakhs while PAT stood at Rs. 1,285 lakhs (vs Rs. 1,946 lakhs a year ago). On a consolidated basis, nine-month revenue was Rs. 5,895 lakhs (down ~47% YoY) with PAT of Rs. 1,538 lakhs. The sharp revenue decline is mainly because less real estate project revenue was recognized this year (Rs. 1,350 lakhs in 9M FY26 vs Rs. 6,958 lakhs in 9M FY25). The board also announced management changes — resignation of the Company Secretary and Interim CFO, appointment of a new CFO, and retirement of a senior HR manager. A one-time past service cost of Rs. 164 lakhs from new Labour Codes was charged to employee expenses.
Sharp year-on-year revenue contraction due to lower real estate project milestones is likely to weigh on near-term stock sentiment, even though the company remains profitable. Investors should also factor in management transitions, the ongoing insolvency of erstwhile subsidiary Forbes Technosys, and the unresolved Svadeshi Mills winding-up case.