Forbes and Company Ltd
FV – Rs 10; 52wks H/L – 2718.9/1552; TTQ – 16 K; CMP – Rs 2200 (As On November 21, 2019);
Market Cap – Rs 2838 Crs
Consolidated Financials and Valuations (Amt in Rs Crs unless specified)
*In PAT of H1 FY20 , loss of Rs 150 Crs is recorded as Impairment of Goodwill in the subsidiary of the company Eureka Forbes Ltd.
Forbes & Company, a Shapoorji Pallonji group firm on Tuesday announced plans to list its subsidiary Eureka Forbes to unlock value for shareholders. (https://economictimes.indiatimes.com/markets/ipos/fpos/forbes-company-mulls-listing-eureka-forbes/articleshow/72125249.cms)
Mr. Shapoorji Pallonji Mistry is the Chairman of the Company
Mr. M. C. Tahilyani is the MD of the company.
- Forbes is into precision tooling and an engineering services with a wide product portfolio supported by strong brands like TOTEM and BRADMA.
- The company has an attractive customer base who are few of the world’s large businesses in their transformational journeys for the last many decades.
- The Company leverages all these and its deep contextual knowledge of its customers’ businesses to craft unique, high quality, high impact solutions.
- We are also simultaneously expanding our global footprint further in Eastern and West Europe, few countries in North America and South East Asia.
- The main businesses of the Company is Engineering and Realty and through its subsidiaries Transaction Management Solutions, Water Purification, Transportation of Chemical through its owned Ships etc.
67.67% of the promoter holdings are pledged. Earlier it was 9.5% In March 2019.
Major Non – Promoter Holdings:
|Non – Promoters||No. of shares held||% shares held|
|INDIA DISCOVERY FUND LIMITED||1148255||8.9|
|ANTARA INDIA EVERGREEN FUND LTD||333146||2.58|
|Particulars||Segment Revenue||Segment Results|
|FY18-19||FY17-18||% Change||FY18-19||FY17-18||% Change|
|Health, Hygiene, Safety Products and its services||2388||2318||3||58||29||100|
|IT Enabled Services and Products||124||132||-6||48||1||4700|
|Shipping and Logistics Services||114||81||41||2||0.2||900|
5 years price snapshot:
|Year||Open (Rs.)||High (Rs.)||Low (Rs.)||Close (Rs.)|
Subsidiaries and Step down Subsidiaries of the company:
SHAPOORJI PALLONJI COMPANY LTD/ FORBES & COMPANY LTD
1.Eureka Forbes Ltd
- Aquaiginis Ltd
- Aquadiagnostics Water Research Ltd
- EFL Mauritius Ltd
- Euro Forbes Fianancial Services Ltd
- Euro Forbes Ltd
- Forbes Lux FZCO
- Forbes Lux International AG
- Lux International AG
- LIAG Trading & Invt Ltd
- Lux Aqua Paraguay SA
- Lux del paraguay S.A
- Lux Hungaria kft
- Lux Aqua Hungaria Kft
- Lux International Services & Logistics Ltd
- Lux Italia srl
- Lux Aqua Czech
- Lux Oesterreich GmbH
- Lux (Duetschland) GmbH
- Lux Norge A/S
- Lux Schweiz AG
2.Forbes Technology Ltd
4.Forbes Campbell Ltd
- Forbes Bumi Armada Ltd
5.Campbell Properties & Hospitality Ltd
6.Volkart Flemming Ltd
Eureka Forbes Ltd:
Company had subscribed 50000 shares of Rs. 10 each . (Rs 25 crores infused in the EFL)
For every 100 new shares 7456 shares were allotted (100:7456) for a price of Rs 5010 per share.
Share Capital – Rs 3.7 Crs (FV – Rs 10)
Hence, Valuation = Rs 5010*0.37 = Rs 1853 Crs, which is one time Sales of Rs 1842 Crs.