Forbes Co

Earlier known as Forbes Gokak, it is the oldest registered company in India and one of the oldest in the world which is still in business. The company was established way back in 1767 by a Scot, and over a period of time, ownership moved from Forbes to Campbell to Tata’s and currentlyShapoorjiPallonji. They now own 72.06% stake and Forbes Campbell holds 1.29%.  The company has three segments – engineering, shipping and logistics and Business automation or Payment Processing & Transaction Management Solutions. Consolidated numbers also includes realty and health and hygiene.

The company had a bad Q1Fy13 but it was extraordinary income which saved the day. The company earned Rs.60.50 crore on account of profit on sale of land and building and this helped the company end the quarter with a net profit at Rs.53 crore which is almost 11 times the profit it earned for entire FY12. Excluding this one-time gain, profit was meager at Rs.1.72 crore, down 50% sequentially. On an equity of Rs.12.73 crore, the company ended the quarter with a consolidated EPS at Rs.41. Reserves as at 31st March 2012 stood at Rs.124 crore while short term borrowings were at Rs.104 crore and long term at Rs.266 crore. Cash and bank balance was at Rs.111 crore.