Mumbai: Forbes & Company Ltd reported an 85.4 percent decline in standalone net profit for Q4 FY26 at Rupees 1.87 crore compared with Rupees 7.47 crore in the corresponding quarter last year, primarily due to lower real estate revenue during the quarter. Revenue from operations stood at Rupees 16.48 crore against Rupees 88.22 crore in Q4 FY25, while total income declined to Rupees 17.78 crore from Rupees 89.83 crore a year ago. Sequentially, revenue remained largely flat compared with Rupees 16.50 crore reported in Q3 FY26.
The company’s quarterly performance was impacted by a sharp moderation in revenue recognition from its real estate business. According to segment disclosures, real estate revenue fell to Rupees 6.79 crore in Q4 FY26 from Rupees 80.67 crore in the year-ago quarter. The Coding and Industrial Automation segment, however, reported revenue growth to Rupees 9.69 crore from Rupees 7.55 crore in Q4 FY25.
Expenses decline amid softer operations
Total expenses during the quarter declined to Rupees 15.06 crore from Rupees 74.52 crore in Q4 FY25, reflecting lower project-related costs and inventory movements. Profit before tax stood at Rupees 2.72 crore compared with Rupees 12.79 crore in the corresponding quarter last year and Rupees 3.27 crore in Q3 FY26. Finance costs rose marginally to Rupees 15 lakh, while depreciation expense increased to Rupees 1.25 crore from Rupees 39 lakh in Q4 FY25.
The company reported a tax expense of Rupees 85 lakh during the quarter against a tax benefit in the year-ago period. Basic and diluted earnings per share stood at Rupees 1.45 for Q4 FY26 compared with Rupees 5.79 in Q4 FY25.
For the full year FY26, Forbes & Company posted standalone revenue from operations of Rupees 73.14 crore against Rupees 196.84 crore in FY25. Net profit for the year declined 45.4 percent to Rupees 14.72 crore from Rupees 26.93 crore in the previous fiscal. Total income for FY26 stood at Rupees 85.19 crore, while profit before tax came in at Rupees 18.52 crore.
Real estate recognition remains a key driver
The company said revenue from its real estate project was recognised under Ind AS 115 after receipt of the occupancy certificate, possession letters, and transfer of control to customers. Real estate revenue recognised during FY26 stood at Rupees 14.68 crore compared with Rupees 145.16 crore in FY25. Forbes & Company operates across Coding and Industrial Automation as well as Real Estate businesses. The company is part of the Shapoorji Pallonji Group.
Disclaimer: This report is based on audited financial results filed by the company and is not investment advice.
