| Type | Public |
|---|---|
| Traded as | BSE: 502865 |
| Industry | Shipping, Logistics, Engineering, Business Automation |
| Founded | 1767[1] |
| Headquarters | Mumbai, India |
| Number of locations | India |
| Website | Official Website |
Forbes & Company Ltd., BSE: 502865 the erstwhile Forbes Gokak Ltd. based in Mumbai,[2] is the oldest registered company in India and one of the oldest in the world, which is in business. It was established in the year 1767, by a Scottish gentleman John Forbes Esq. of Aberdeenshire, Scotland. Over the past few years, the management of the company moved from the Forbes family to the Campbells to the Tata Group and now finally to the well known Shapoorji Pallonji Group;[3] leaders in infrastructure, construction and real estate businesses, amongst many others. Forbes & Company Limited has three main businesses, namely:[4]
1) Engineering 2) Shipping & Logistics 3) Business Automation. [5]
Many of these businesses have joint ventures with world leaders and are present throughout India and in many other countries.
Company Profile Forbes & Company Limited (FCL) traces its origins to the year 1767 when John Forbes of Scotland started his business in India. Over the years, the management of the company moved from the Forbes Family to the Campbells to the Tata Group and now to the Shapoorji Pallonji Group. During this period, the company has also gone through a series of mergers and demergers, and engaged and disengaged from different businesses. Initially known as Forbes Gokak Limited, the name of the company has been changed to Forbes & Company Limited with effect from October 25, 2007. Pursuant to a scheme of demerger, the textile undertaking of FCL, which included manufacture of yarn and knitwear, was demerged into a separate company, Gokak Textiles Limited (GTL), with effect from April 1, 2007. Further, FCL closed down its vacuum cleaner business in October 2007; transferred its business automation group (BAG) business to its then step-subsidiary – Forbes Technosys Limited – with effect from April 1, 2009; closed down its motor manufacturing business in 2009-10; and also exited its upmarket brands business, which included retailing of Saville Row brand products, in 2009- 10. Post these divestments and business discontinuations, the current operations of FCL include engineering business (comprising precision tools, coding business, and energy – turbines business); and shipping and logistics business (comprising container freight stations, logistics, and multimodal transport operator). In addition, FCL earns substantial income from its treasury operations (real estate and investments).It owns Eureka Forbes 100% stake and the co.. works as its subsidiary.
Shapoorji Pallonji Group holds about 73.35% of the paid up share capital of FCL. The Shapoorji Pallonji group is also the largest private stakeholder in Tata Sons (18.40%). FCL has 18 Subsidiary Companies, 8 Joint Venture Companies and 4 Associate Companies. Recent Results For the six months ending September 30, 2010, FCL (standalone) reported a loss of Rs. 11.4 crore on an operating income of Rs. 96.3 crore as against a loss of Rs. 10.4 crore on an operating income of Rs. 160.7 crore for the twelve months ending March 31, 2010. For the twelve months ending March 31, 2010, FCL (consolidated) reported profit after tax of Rs. 24.9 crore on an operating income of Rs. 1,271.9 crore.