Re: Forbes & The Company-Dark Horse

Download the company's annual report from before reading this article and compare co.. financials

http://www.forbes.xxx/site/annual_report.html

Before reading the report do understand there might be more real estate which cannot be valued as there is a lack of information from the management about the same.Company is 200 year old and prime office space owned and occupied by it has not been valued by us.We have simply valued its swadeshi mills stake,Euraka forbes (100% stake) and its other known subsidaries.Do read the attached annual report before you make any query about the stock.Read the consolidated financial statements and notes from the auditors.Also refer the site of the comapny links given at the end for further info...


At last we caught a multibagger-its indias oldest registered co..

A 1200 cr sales after demerger and a 70 cr pbt company and a 40 cr pat co..

refer the attached annual report for the latest annual consolidated results

results submitted to the exchange are standalone


The stock of forbes and co is showing sharp movement as markets is valuing its 100% subsidiaries
and expected value unlocking
the 200+ year old company shapoorji pallonji group company is buzzing in the bourses as the company is undergoing a restructuring.Company last year hived off the textiles divison.The company has given a return of 55% in past week.

Now the company owns

100% of euraka forbes(720 cr sales and 48 cr ebitda 26 cr net profit).stocks in water treatment space is being given higher pe ratios as markets have caught fancy of them. Ion exchange in a similar space is valued at a pe of 55+.euraka forbes segment eps is itself 26 on forbes consolidated balance sheet.

refer

http://www.eurekaforbes.xxx/

for euraka financials

http://www.eurekaforbes.xxx/aboutus/report05.php

The Directors are pleased to submit their report and the audited accounts of the company for the year ended 31st March, 2007.

FINANCIAL RESULTS :
Particulars Current Year
(2006-07)
Rupees Previous Year
(2005-06)
Rupees
Sales and Other Income 7,39,98,67,154 6,33,57,03,128
Profit before Depreciation 47,95,68,457 42,37,45,077
Less : Depreciation 9,00,27,767 8,41,60,633
Profit before Tax 38,95,40,690 33,95,84,444
Less : Provision for Current, Fringe Benefit and Deferred Tax 14,04,03,806 11,98,48,588
Profit after Tax 24,91,36,884 21,97,35,856
Add : Balance brought forward from previous year 12,89,86,712 10,47,50,156
Amount available for appropriation 37,81,23,596 32,44,86,012
APPROPRIATIONS :
Interim Dividend 6,39,00,000 8,52,00,000
Proposed Final Dividend 2,13,00,000 -
Tax on Dividend 1,25,81,910 1,19,49,300
Transferred to General Reserve 10,00,00,000 9,83,50,000
Balance carried to Balance Sheet 18,03,41,686 12,89,86,712

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and also the consolidated accounts in the second half of the annual report

40% of next gen publishing


http://www.nextgenpublishing.in


company has also set container freight stations in veshvi and mundra.We believe that the CFS were set only in 2007 so gains will start flowing in from this year


100% in edumetry inc which is in education services

co also holds 22% in swadeshi mills which owns 22 acres of prime land in kurla mumbai

also holds prime real estate in chandivali estate and thane in mumbai and in baroda and pune also holds office spaces in all major cities in India in its shipping .

Value of forbes stake in swadeshi mills kurla land is pegged above of 1200 cr.Moreover a 200 year old cos land holdings is best guessed by the markets.

49% in forbes infotainment which will be venturing in retail financial services (Forbes infotainment is currently in dhanadhan loterry.)

http://www.forbesinfotainment.xxx/vent_sretail.aspx


Recognising the growing dominance of retail and its pervasive approach, FIL has ventured into retail services solutions. Combining efficacy and intelligence of IT along with convenience of space, FIL is developing projects to address consumer conveniences. The approach would be through retail outlets set up across the country. Each outlet would be working on the support of technology based solutions developed by FIL. The project is slated to initiate in the second half of the year . Services which would be tapped under this umbrella are: travel, utility payments, entertainment, telecom, logistics and financial services


FORBES PATVOLK SHIPPING DIVISION:

Owns and operates Normal bulk cargo vessels
Joint venture with S.C.I for a new shipping company.

http://content.icicidirect.xxx/resea...icicode=FORGOK


· FORBES PRECISION TOOLS DIVISION:

Presence in Automobile ancillary and Dies & Moulds segments Non-auto sectors like Defence, Aerospace, Export Oriented Units and Light Engineering.
· FORBES FACIT ENGINEERING DIVISION:

Manufacture of Vacuum cleaners

· FORBES BRADMA AUTOMATION DIVISION:

Banking automation products viz. Currency Note Counting Machines and Note Banding Machines.
· FORBES ENERGY SYSTEMS DIVISION:
Exclusive Distributor of Dresser Rand Steam Turbine products in India.


Refer this link
http://www.dresser-rand.xxx/aboutus/default.asp


· UPMARKET BRANDS DIVISION:

Marketing tieup with Daks Simpson, British apparel major, to manufacture & market Daks range of brands in India.

-Savile Row

(B) Subsidiary Companies :
1 Aquamall Water Solutions Limited
2 Eureka Forbes Limited
3 Euro Forbes International Pte. Limited
4 Forbes Abans Cleaning Solutions Private Limited
5 Forbes Aquamall Limited
6 Forbes Doris & Naess Maritime Limited
7 Forbes Finance Limited
8 Forbes Sterling Star Limited
9 Latham India Limited
10 Next Gen Publishing Limited
11 Volkart Fleming Shipping & Services Limited
12 Forbes Services Ltd.
13 Forbes Technosys Ltd.
14 Forbes Tinsley Co. Ltd.
15 Warrior (Investment) Ltd.
16 Forbes Campbell Holdings Ltd.

) Associate Companies :
1 Forbes Aquatech Limited (Associate of a Subsidiary)
2 The Svadeshi Mills Company Limited
3 Warrior Logistic & Shipping Services Limited
4 P T Gokak Indonesia
5 Sea-Speed Shipping Agencies Ltd. (Associate of a Subsidiary)
6 Trident Shipping Agencies Ltd. (Associate of a Subsidiary)
7 High Point Properties Ltd. (Associate of a Subsidiary)
8 Sea-Falcon Shipping Services Ltd. (Associate of a Subsidiary)
(E) Joint Ventures :
1 Barwil Forbes Shipping Services Limited
2 Forbes Infotainment Limited
3 Nypro Forbes Moulds Private Limited
4 Nypro Forbes Products Private Limited
5 Forbes Edumetry Ltd.
6 Edu Metary Inc.

The Forbes Group, founded in 1767 by John Forbes from Aberdeenshire, Scotland is one of India's largest and internationally known group of companies with a turnover of over USD 300 million having a strength of over 6000 employees.

The Group is a professionally run conglomerate with interests in textiles, engineering, shipping, business automation, heathcare, hygiene, consumer durables, travel, BPO services, Infotainment.

The Forbes Group has a heritage of over 200 years and is totally committed to the tradition of excellence. The Forbes management has a glorious history of been passed on from Forbes family to the Campbells, to the Tata Group and finally at present held by the well known Shapoorji Pallonji Group of Companies, which is among the premier business houses in India since 1865.


History
Forbes is the oldest surviving company in India and one of the oldest in the world, established in 1767 by John Forbes of Aberdeenshire, Scotland. Forbes started as a trading and agency company and then ventured into manufacturing. The Forbes Management shifted hands from the Forbes Family to the Campbells to The Tata Group and now finally taken over by the well-known Shapoorji Pallonji Group - Leaders in the infrastructure and real estate business.

The Present
Today The Forbes Group has a diverse portfolio comprising of Textiles, Shipping, Business Automation, Light Engineering, Freight Forwarding, and Consumer Durables etc

Mission
To raise the level of total customer comfort to greater heights in all our diverse activities, both at present and in future therefore ensuring longer lasting customer loyalty and partnership.
To strive for providing products, services and solutions of high quality with value for money price and on-time delivery thus making life happier, easier and more comfortable for our customers.
To keep upgrading our products / services in line with the latest technological developments and adapting to best manufacturing processes and R&D efforts and thus enhancing the returns for our stakeholders.
Total growth and development of our employees by adhering to the best of HR policies thus ensuring higher motivation therefore better efficiency and productivity.

Our Vision for Corporate and Social Excellence
We are committed to achieving substantial growth by expanding and diversifying our existing activities and moving into allied lines estimated to be profitable in the long term. We will also divest or modify those activities, which do not show long term potential.
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annual report of forbes and co latest attached

check out the inbuilt value in the company's various businesses

check the consolidated results in the second half of the reports

attached


refer these sites for additional info

http://www.forbes.xxx/

http://www.forbesinfotainment.xxx/

http://www.dhandhanadhan.xxx/

Only Shapoorji paloonji interview in last 10 years do read this link as he talks just about forbes real estate

http://www.rediff.xxx/money/2002/apr/11mist.htm

http://shapoorji.in/SPGroup/default.asp?pageid=5


SOURCE
http://timesofindia.indiatimes.xxx/a...w/14701207.cms

THE NTC OWNS 27 ACRES NW DUE 2 SETTLEMENT BETWEEN THE ALL PARTIES .

SOURCE http://www.indianrealestateforum.xxx...lop-100-acres- of-mill-land -in-mumbai-1284.html

www.dhandhanadhan.xxx

www.forbesindia.xxx

http://www.ftlindia.xxx/

http://www.nextgenpublishing.in

www.sebi.gov.in/dp/nextgen.pdf

[1]www.totem- forbes.xxx

[2]202.70.193.71:8080/company.html

[3]http://www.forbespatvolk.xxx/

[4]www.falindia.xxx

[5]www.forbesinfotainment.xxx

[6]www.dhandhandhan.xxx

[7]www.aquamall.xxx

http://www.expresstravelworld.xxx/200712/market04.shtml

for any further info contact

earnfromtoday@*****.xxx kindly sent me an update abt any new msg on this forum about the same

--
T.T.T(THE TECH TRADERS)

"Derivatives are financial instruments of mass destruction" – Warren Buffet