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.

For Q2Fy15, the company posted a set of poor numbers with the company slipping into the red with a net loss at Rs.4.5 crore v/s loss of Rs.7 crore in previous Q2. Net sales was flat at Rs.70 crore. Though it managed to bring down its operating costs, a 25% rise in interest outgo and then an exceptional cost of Rs.3 crore which was provision for diminution in the value of investments, pushed the company into loss. The saving grace for the company was its engineering and energy solutions segment. Engineering segment showed a 3% rise in topline and EBIT was up 67% while Energy Solutions showed a 111% jump in revenue and it showed a turnaround with an EBIT of Rs.13 lakh v/s loss of Rs.3 crore. Shipping & logistics segment had a 8% drop in topline and it slipped into loss while realty segment showed a 7% fall in revenue and EBIT fell 67%. On an equity of Rs.13 crore, reserves as at 3oth Sept 2014 stood at Rs.119 crore and debt was at Rs.143 crore.