Foce India Ltd.

•

₹ 5370%

2026-08-21

foceindia.comBSE: -NSE: FOCE

Market Cap₹ 631 Cr.

Current Price₹ 537

High / Low₹ 835 / 490

Stock P/E42.1

Book Value₹ 80

Price to Book10.91

Dividend Yield0.00 %

ROCE19.1 %

ROE20.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Trading Activities: 98.6% • Renting Activities: 1.4%

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 22.5%
Company has a healthy return on capital (ROCE) of 21.9%
Operating margins have improved to 17.7% from 6.2%
Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.56x)

CONS

Total debt has risen sharply - up 37.6% year on year
Stock is trading at 10.9x its book value
Debtor days have increased from 124 to 180
Though reporting repeated profits, the company pays out little dividend (0.0%)
Expensive relative to growth - PEG of 2.5

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ADANIENT	2991.05	54.39	404905.20	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	1037.30	28.28	47088.39	0.10	471.92	53.32	2462.59	35.25	41.97	29.03
3.	AEGISLOG	1332.75	37.39	46779.53	0.65	544.84	210.70	2356.86	37.07	19.76	30.28
4.	CPPLUS	3472.80	86.08	41083.38	0.05	142.20	332.51	1402.42	89.51	29.48	14.52
5.	REDINGTON	348.00	15.99	27205.75	1.72	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	484.20	63.43	15786.09	0.62	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	78.44	106.64	11974.27	0.19	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	805.35	81.64	10150.24	0.00	455.80	1310.71	13085.70	1044.08	11.45	4.49
9.	MMTC	66.30	22.23	9945.00	0.00	104.24	135.52	0.68	-50.00	6.90	-1423.53
10.	CELLO	362.85	25.62	8014.81	0.41	73.40	-8.99	526.72	-0.43	17.15	18.80
11.	EBGNG	624.60	50.00	7121.16	0.00	289.30	1462.10	4124.61	1220.81	20.14	11.97
12.	FOCE	537.00	42.14	630.60	0.00	—	—	—	—	19.08	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	77	187	58	80	104
	74	176	47	60	86
Operating Profit	3	12	11	20	19
OPM %	4	6	20	25	18
Other Income	0	0	0	0	0
Interest	0	0	0	1	1
Depreciation	0	0	0	0	0
	3	11	10	19	18
Tax %	26	21	19	18	20
Net Profit	2	9	9	16	14
EPS	5	22	17	32	29
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	2	8	7	14	12
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	2	8	7	14	12

Mar 2021

: 77
: 74
Operating Profit: 3
OPM %: 4
Other Income: 0
Interest: 0
Depreciation: 0
: 3
Tax %: 26
Net Profit: 2
EPS: 5
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2022

: 187
: 176
Operating Profit: 12
OPM %: 6
Other Income: 0
Interest: 0
Depreciation: 0
: 11
Tax %: 21
Net Profit: 9
EPS: 22
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2023

: 58
: 47
Operating Profit: 11
OPM %: 20
Other Income: 0
Interest: 0
Depreciation: 0
: 10
Tax %: 19
Net Profit: 9
EPS: 17
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2024

: 80
: 60
Operating Profit: 20
OPM %: 25
Other Income: 0
Interest: 1
Depreciation: 0
: 19
Tax %: 18
Net Profit: 16
EPS: 32
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 14

Mar 2025

: 104
: 86
Operating Profit: 19
OPM %: 18
Other Income: 0
Interest: 1
Depreciation: 0
: 18
Tax %: 20
Net Profit: 14
EPS: 29
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 12
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 12

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: -18%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 18%
1 Year:: -24%

RETURN ON EQUITY

10 Years:: —
5 Years:: 24%
3 Years:: 22%
Last Year:: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	4	5	5	5	5
	7	35	44	60	74
	0	2	18	22	30
Trade Payables	27	11	18	21	18
	0	0	2	3	22
Total Liabilities	37	53	86	111	149
ASSETS	-	-	-	-	-
	0	1	1	1	1
	0	12	57	56	72
	2	13	11	1	3
	0	0	0	45	58
Cash & Bank	2	0	1	1	1
	33	27	17	6	14
Total Assets	37	53	86	111	149
Total Debt	0	2	18	22	30
Net Working Capital	11	26	-9	7	6
Contingent Liabilities	0	0	21	21	10
Book Value per Share	26.70	82.11	99.05	131.64	161.08
Face Value	10.00	10.00	10.00	10.00	10.00
Total Debt	0	2	18	22	30
Net Working Capital	11	26	-9	7	6
Contingent Liabilities	0	0	21	21	10
Book Value per Share	26.70	82.11	99.05	131.64	161.08
Face Value	10.00	10.00	10.00	10.00	10.00

Mar 2021

Equity Capital: 4
: 7
: 0
Trade Payables: 27
: 0
Total Liabilities: 37
: 0
: 0
: 2
: 0
Cash & Bank: 2
: 33
Total Assets: 37
Total Debt: 0
Net Working Capital: 11
Contingent Liabilities: 0
Book Value per Share: 26.70
Face Value: 10.00
Total Debt: 0
Net Working Capital: 11
Contingent Liabilities: 0
Book Value per Share: 26.70
Face Value: 10.00

Mar 2022

Equity Capital: 5
: 35
: 2
Trade Payables: 11
: 0
Total Liabilities: 53
: 1
: 12
: 13
: 0
Cash & Bank: 0
: 27
Total Assets: 53
Total Debt: 2
Net Working Capital: 26
Contingent Liabilities: 0
Book Value per Share: 82.11
Face Value: 10.00
Total Debt: 2
Net Working Capital: 26
Contingent Liabilities: 0
Book Value per Share: 82.11
Face Value: 10.00

Mar 2023

Equity Capital: 5
: 44
: 18
Trade Payables: 18
: 2
Total Liabilities: 86
: 1
: 57
: 11
: 0
Cash & Bank: 1
: 17
Total Assets: 86
Total Debt: 18
Net Working Capital: -9
Contingent Liabilities: 21
Book Value per Share: 99.05
Face Value: 10.00
Total Debt: 18
Net Working Capital: -9
Contingent Liabilities: 21
Book Value per Share: 99.05
Face Value: 10.00

Mar 2024

Equity Capital: 5
: 60
: 22
Trade Payables: 21
: 3
Total Liabilities: 111
: 1
: 56
: 1
: 45
Cash & Bank: 1
: 6
Total Assets: 111
Total Debt: 22
Net Working Capital: 7
Contingent Liabilities: 21
Book Value per Share: 131.64
Face Value: 10.00
Total Debt: 22
Net Working Capital: 7
Contingent Liabilities: 21
Book Value per Share: 131.64
Face Value: 10.00

Mar 2025

Equity Capital: 5
: 74
: 30
Trade Payables: 18
: 22
Total Liabilities: 149
: 1
: 72
: 3
: 58
Cash & Bank: 1
: 14
Total Assets: 149
Total Debt: 30
Net Working Capital: 6
Contingent Liabilities: 10
Book Value per Share: 161.08
Face Value: 10.00
Total Debt: 30
Net Working Capital: 6
Contingent Liabilities: 10
Book Value per Share: 161.08
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	-9	45	0	15
Cash from Investing	-0	-14	-44	0	-16
Cash from Financing	-1	20	0	0	0
	2	-2	1	0	-1
Free Cash Flow	3	-10	45	0	15
OCF / Net Profit	1.56	-0.97	5.27	0.02	1.06
Cumulative 5-Year FCF	0	0	0	0	0
OCF / Net Profit	1.56	-0.97	5.27	0.02	1.06
Cumulative 5-Year FCF	0	0	0	0	0

Mar 2021

: 3
Cash from Investing: -0
Cash from Financing: -1
: 2
Free Cash Flow: 3
OCF / Net Profit: 1.56
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.56
Cumulative 5-Year FCF: 0

Mar 2022

: -9
Cash from Investing: -14
Cash from Financing: 20
: -2
Free Cash Flow: -10
OCF / Net Profit: -0.97
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.97
Cumulative 5-Year FCF: 0

Mar 2023

: 45
Cash from Investing: -44
Cash from Financing: 0
: 1
Free Cash Flow: 45
OCF / Net Profit: 5.27
Cumulative 5-Year FCF: 0
OCF / Net Profit: 5.27
Cumulative 5-Year FCF: 0

Mar 2024

: 0
Cash from Investing: 0
Cash from Financing: 0
: 0
Free Cash Flow: 0
OCF / Net Profit: 0.02
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.02
Cumulative 5-Year FCF: 0

Mar 2025

: 15
Cash from Investing: -16
Cash from Financing: 0
: -1
Free Cash Flow: 15
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-
EPS (₹)	4.99	18.94	17.38	32.48	29.44
Book Value (₹)	26.70	82.11	99.05	131.64	161.08
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	2.10	7.84	7.52	13.77	12.47
PROFITABILITY	-	-	-	-	-
Operating Margin %	3.50%	6.21%	19.53%	25.08%	17.71%
Net Margin %	2.59%	4.85%	14.73%	19.80%	13.81%
ROE %	18.68%	35.71%	19.18%	28.16%	20.11%
ROCE %	25.11%	43.69%	20.27%	26.21%	19.08%
	5.31%	19.99%	12.17%	16.14%	11.09%
EFFICIENCY	-	-	-	-	-
Debtor Days	153	52	97	124	180
Inventory Days	11	15	76	28	7
Payable Days	134	40	120	123	87
	30	27	52	28	100
FINANCIAL HEALTH	-	-	-	-	-
Debt to Equity (x)	0.00x	0.04x	0.36x	0.34x	0.38x
Interest Coverage (x)	1338.20x	3020.42x	24.25x	31.09x	26.59x
	1.40x	3.01x	0.76x	1.15x	1.09x
GROWTH	-	-	-	-	-
Revenue Growth %	0.00%	143.27%	-69.15%	39.06%	29.91%
Operating Profit Growth %	0.00%	331.08%	-2.91%	79.71%	-6.93%
Net Profit Growth %	0.00%	355.97%	-6.35%	86.93%	-9.38%
	0.00%	0.00%	0.00%	86.93%	-9.38%
VALUATION	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	22.78x	59.72x
P/B (x)	0.00x	0.00x	0.00x	5.62x	10.91x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	18.88x	47.18x

Mar 2021

EPS (₹): 4.99
Book Value (₹): 26.70
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.10
Operating Margin %: 3.50%
Net Margin %: 2.59%
ROE %: 18.68%
ROCE %: 25.11%
: 5.31%
Debtor Days: 153
Inventory Days: 11
Payable Days: 134
: 30
Debt to Equity (x): 0.00x
Interest Coverage (x): 1338.20x
: 1.40x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 18.94
Book Value (₹): 82.11
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.84
Operating Margin %: 6.21%
Net Margin %: 4.85%
ROE %: 35.71%
ROCE %: 43.69%
: 19.99%
Debtor Days: 52
Inventory Days: 15
Payable Days: 40
: 27
Debt to Equity (x): 0.04x
Interest Coverage (x): 3020.42x
: 3.01x
Revenue Growth %: 143.27%
Operating Profit Growth %: 331.08%
Net Profit Growth %: 355.97%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 17.38
Book Value (₹): 99.05
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.52
Operating Margin %: 19.53%
Net Margin %: 14.73%
ROE %: 19.18%
ROCE %: 20.27%
: 12.17%
Debtor Days: 97
Inventory Days: 76
Payable Days: 120
: 52
Debt to Equity (x): 0.36x
Interest Coverage (x): 24.25x
: 0.76x
Revenue Growth %: -69.15%
Operating Profit Growth %: -2.91%
Net Profit Growth %: -6.35%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 32.48
Book Value (₹): 131.64
Dividend per Share (₹): 0.00
Cash EPS (₹): 13.77
Operating Margin %: 25.08%
Net Margin %: 19.80%
ROE %: 28.16%
ROCE %: 26.21%
: 16.14%
Debtor Days: 124
Inventory Days: 28
Payable Days: 123
: 28
Debt to Equity (x): 0.34x
Interest Coverage (x): 31.09x
: 1.15x
Revenue Growth %: 39.06%
Operating Profit Growth %: 79.71%
Net Profit Growth %: 86.93%
: 86.93%
P/E (x): 22.78x
P/B (x): 5.62x
Dividend Yield %: 0.00%
: 18.88x

Mar 2025

EPS (₹): 29.44
Book Value (₹): 161.08
Dividend per Share (₹): 0.00
Cash EPS (₹): 12.47
Operating Margin %: 17.71%
Net Margin %: 13.81%
ROE %: 20.11%
ROCE %: 19.08%
: 11.09%
Debtor Days: 180
Inventory Days: 7
Payable Days: 87
: 100
Debt to Equity (x): 0.38x
Interest Coverage (x): 26.59x
: 1.09x
Revenue Growth %: 29.91%
Operating Profit Growth %: -6.93%
Net Profit Growth %: -9.38%
: -9.38%
P/E (x): 59.72x
P/B (x): 10.91x
Dividend Yield %: 0.00%
: 47.18x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.63	73.63	73.63	73.63	73.63	73.63	73.63	73.63	73.63
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	26.37	26.37	26.37	26.37	26.37	26.37	26.37	26.37	26.37

Jun 2024

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Sep 2024

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Dec 2024

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Mar 2025

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Jun 2025

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Sep 2025

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Dec 2025

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Mar 2026

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Jun 2026

: 73.63
FIIs: 0.00
DIIs: 0.00
Government: 0.00
: 26.37

Documents

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Annual Reports

Credit Ratings

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Concalls

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