Incorporated in April 2010, Forcas Studio Limited is a prominent player in the Indian menswear market, offering a diverse range of products including shirts, jeans, t-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, and boxers.
The company caters to a wide audience across India, providing its products online under the brand names ‘FTX,’ ‘Tribe,’ and ‘Conteno,’ as well as through bulk orders. Forcas Studio also offers white-label services to renowned brands like Landmark Group, V-Mart Retail, V2 Retail, Highlander, and Cobb.
The company has established a strong online presence on major platforms such as Flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, Glowroad, Limeroad, Solvd, and Shopsy. It also has a robust offline presence, selling products through over 500 large-format stores, including V-Mart Retail, V2 Retail, City Kart, Metro Bazar, Kothari Retail, and Sarvana Retail. Serving over 15,000 pin codes in India, Forcas Studio boasts a catalogue of more than 1,200 SKUs.
With four warehouses in Kolkata to manage its supply chain, Forcas Studio Limited employed 68 people as of February 29, 2024. These people cover various functions such as business operations, factory management, marketing, and accounting, ensuring smooth and efficient operations.
Industry Outlook
- The online fashion market in India is valued at $11 billion and has grown at 30% annually since 2019, driven by diverse player categories.
- National brands in India doubled their online share to $2.5 billion by FY23, growing 34% between 2019 and 2023, with expected balanced growth ahead.
Forcas Studio IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of the upgradation of the warehouse.
- Prepayment or repayment of certain secured loans availed by the Company.
- Funding of working capital requirements of the Company.
- General Corporate Purposes.
Peer Details
Forcas Studio considers Aditya Birla Fashion And Retail Ltd to be its only industry peers in India and abroad.
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Contact Details of Forcas Studio Limited
Registered office: Tara Maa Tower, B3-71C/161 B B T Road, Vivekanandapur, South 24 Parganas, Thakurpukur Mahestola - 700 141, West Bengal, India
Phone: +91 332 950 1056
E-mail: info@focasstudio.in
IPO Financials
| Particulars | As of February 29, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue From Operations (in ₹ lakh) | 9,607.24 | 6,960.46 | 5,320.02 |
| Profit After Tax (PAT) (in ₹ lakh) | 514.75 | 117.19 | 80.71 |
| Cash & Cash Equivalents (in ₹ lakh) | 19.36 | 36.66 | 19.93 |
| Net Worth (in ₹ lakh) | 1,901.97 | 860.26 | 830.84 |
| Net Debt/EBITDA (x) | 3.13 | 5.12 | 6.71 |
| Return on Equity Ratio (x) | 27.06% | 13.62% | 9.71% |
| Return on Capital Employed (RoCE) (%) | 18.54% | 12.97% | 10.09% |
| Earning Per Share (EPS)-in absolute ₹ | 3.99 | 1.36 | 0.97 |
Know before investing
Strengths
6Established menswear segment presence with 1,200+ SKUs across India.
Innovative in-house design team creating 95% products under ₹499.
Strong online presence on top platforms; serving 15,000+ pin codes.
Experienced management with two decades in garment industry.
Robust customer and supplier relationships ensure repeat business.
Expanding market reach in Tier-2, Tier-3, Tier-4 cities.
Risks
6Inability to adapt to fashion trends may reduce product demand.
Dependency on third-party brand owners and online retailers for revenue.
Reliance on contract manufacturers without formal agreements increases risk.
Failure of new products or brands could impact growth and profitability.
Quality issues from contract manufacturers could harm brand reputation.
Concentration of operations in Kolkata region exposes company to regional risks.
