58  Total SME IPOs listed in 2025

2,593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

Forcas Studio Limited IPO Analysis

Forcas Studio IPO is a book build IPO listing on NSE EMERGE exchange. The company is based in Kolkata and caters to Textiles sector. Horizon Management Private is the merchant banker of Forcas Studio IPO. It is a SME IPO which filed its Draft Red Herring Prospectus (DRHP) on [●].

Forcas Studio IPO posted revenues of Rs 105.25 crores and PAT of Rs 6.03 crores in FY24 on annualised basis.

Nature of IPO : SME
Exchange : NSE EMERGE
IPO Type : Book Building

Forcas Studio IPO Financial Performance (Restated)

Financial results of Forcas Studio IPO based on restated financials as per prospectus and IPO review parameters can be referred to below.

Amount in ₹ crores
Financials
11-Jan-24
FY23
FY22
FY21
Balance Sheet
Assets
58.85
39.24
43.33
48.91

Net Worth
19.02
8.06
8.31
7.12

Total Debt
28.60
23.25
24.19
24.37

Profit & Loss
Revenue
Revenue on annualised basis
24.18
26.38
69.60
53.20
50.51

EBITDA
EBITDA on annualised basis
2.16
2.36
4.50
3.55
3.42

PAT
PAT on annualised basis
1.17
1.28
1.17
0.81
0.58

Notes:
1) Total debt incluides long-term borrowings and short-term borrowings.
2) Revenue means the Revenue from Operations as appearing in the Restated Financial Statements.

Forcas Studio IPO Key performance Indicators (KPI)

Forcas Studio IPO PAT Margin is 4.84%, ROCE (Return on Capital Employed) is [●]% as per latest financial. The below table shows Forcas Studio IPO Key Performance Indicators (KPI) as mentioned in company’s prospectus.

Particulars
11-Jan-24
FY23
FY22
FY21

EBITDA Margin (%)
8.93
6.47
6.67
6.77

PAT Margin (%)
4.84
1.68
1.52
1.15

EPS (Rs.)
1.98
1.36
0.97
0.82

ROE (%)
6.15
14.52
9.75
8.15

ROCE (%)
[●]
[●]
[●]
[●]

ROA (%)
1.99
2.98
1.87
1.19

Debt to Equity (x)  
1.50
2.88
2.91
3.42

Notes:
1) The EPS represents post-bonus basic EPS.
2) Return on Equity is ratio of Profit after Tax and Total Equity.
3) Return on Assets is ratio of Profit after Tax and Total Assets.
4) Debt to Equity is ratio of Total borrowings and Total Equity.

Forcas Studio IPO Valuation Metrics

The market Capitalisation of Forcas Studio IPO is Rs [●] crores at the time of IPO and other IPO valuation metrics of this IPO is mentioned below.

Key Metrics (at the time of IPO)


Market Capitalisation (Rs. Cr.):
[●]

Enterprice Value (EV) (Rs. Cr.):
[●]

EV/EBITDA (times) :
[●]

PE Multiple (times) :
25.08

P/B (times) :
[●]

NAV (Rs.) :
14.74

Notes:
1) The Enterprise Value is calculated as Market Cap. + Total Debt - Cash and Cash Equivalents.
2) Price to Book multiple is calculated as the ratio of Market Cap. and Net Worth post IPO proceeds.

What are the key financial metrics in Forcas Studio prospectus?

The Forcas Studio IPO prospectus highlights an Return on Equity (ROE) of 15%, Return on Assets (ROA) of 12%, and an EBITDA Margin of 18%, showcasing financial performance.

How do profitability ratios impact the evaluation of Forcas Studio IPO?

Profitability ratios like Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin shows Forcas Studio IPO financial report. Analysing these metrics can provide insights into the company’s efficiency, profitability, and long-term growth potential.

What is the market capitalisation for Forcas Studio IPO ?

The post-IPO market capitalisation of Forcas Studio IPO is ₹[●] Cr, based on the issue price and share structure. It helps investors gauge the company’s valuation and compare it with industry peers before investing.

What is the PE Multiple of Forcas Studio IPO?

The Forcas Studio IPO has a Price-to-Earnings (PE) ratio of 25.08 X, indicating valuation compared to industry peers. It helps investors determine if the stock is overvalued or undervalued compared to its earnings and industry peers.

What is the Revenue of Forcas Studio IPO?

Forcas Studio IPO reported revenue of ₹105.25 Cr in the latest fiscal year, showing business performance, on annualised basis. Revenue figures from Forcas Studio IPO provide insights into sales growth, market demand, and business scalability.

What is the EBITDA of Forcas Studio IPO?

Forcas Studio recorded an EBITDA of ₹ 2.36 Cr., reflecting operational efficiency. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) measures operational profitability.

What is the PAT of Forcas Studio IPO?

Forcas Studio Profit After Tax (PAT) is ₹1.28 Cr, reflecting earnings growth. Profit After Tax (PAT) reflects the company’s actual earnings after all expenses, taxes, and deductions

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 26.38 Cr.
            EBITDA: ₹ 2.36 Cr.
            PAT: ₹ 1.28 Cr.
  • EBITDA Margin: 8.93 %
            Pat Margin: 4.84%
  • Net Worth: ₹ 19.02 Cr.
  • Market Capitalisation: [●]
  • P/E: 25.08 times
  • P/BV: [●]
  • EV/EBITDA: [●]

Revenue

(As Annualised)

EBITDA

(As Annualised)

PAT

(As Annualised)
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FAQs

Forcas Studio operates in Textiles and Textiles. The Issue is listed on NSE EMERGE in Aug, 2024. Forcas Studio IPO size was 37.44 with Issue price of 80.00 .

Forcas Studio IPO subscription was 416.99 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Forcas Studio IPO listed at a listing price of 144.40 against the offer price of 80.00.

The current market price of Forcas Studio is 89.85.

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