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 currently Shapoorji Pallonji. 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.

On the topline front, the company for Q1FY14 posted a 5% rise at Rs.64 crore. Higher raw material costs and other expenses pushed the total expenses to Rs.73 crore, pushing the company into the red. The company ended the quarter with a net loss at Rs.9 crore, up from loss of Rs.7 crore in Q4. In Q1FY13, the company had a net profit of Rs.53 crore which was thanks only to the extraordinary income of Rs.60 crore. The company posted a loss in all the three segments – engineering, shipping & logistics and real estate. On an equity of Rs.12.73 crore, reserves as at 31st March 2013 stood at Rs.154 crore and debt was at Rs.128  crore. Cash and bank balance was at Rs.142 crore.