MarketFriction

Future Market Networks Ltd

NSE FMNL · BSE 533296 · Diversified Commercial Services
₹8.08 -3.23%
NSE close2026-10-01
52 week range6.74 - 13.29
Market cap₹48.5 Cr.
P/E5.83
Price band 5% Delivery 60.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales24.1323.4223.0924.5726.1626.0724.2024.4424.3424.3225.4324.64
Expenses32.7712.2217.2412.1213.6014.9920.9412.3915.2812.5914.1014.40
Operating Profit-8.6411.205.8512.4512.5611.083.2612.059.0611.7311.3310.24
OPM %-35.81%47.82%25.34%50.67%48.01%42.50%13.47%49.30%37.22%48.23%44.55%41.56%
Other Income1.651.432.2277.841.452.79-17.232.305.832.682.463.12
Interest4.093.903.653.403.233.072.644.814.654.374.103.89
Depreciation3.433.433.453.463.473.453.458.148.158.158.158.02
Profit before tax-14.515.300.9783.437.317.35-20.061.402.091.891.541.45
Tax %7.86%20.19%690.72%1.41%16.96%17.41%48.40%-5.71%-15.31%4.76%-27.27%-24.83%
Net Profit-15.654.22-5.7282.236.086.07-29.781.472.411.811.961.81
EPS in Rs-2.650.82-0.8514.341.151.06-4.870.260.440.320.290.32
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales89.1787.0184.25131.27126.7769.0085.2692.4093.03101.0098.5498.73
Expenses-9.9272.3579.2289.6872.7643.9641.7642.4455.2259.7954.3856.37
Operating Profit99.0914.665.0341.5954.0125.0443.5049.9637.8141.2144.1642.36
OPM %111.12%16.85%5.97%31.68%42.60%36.29%51.02%54.07%40.64%40.80%44.81%42.90%
Other Income26.1030.1935.2318.3168.06-2.72-19.14-10.40-4.3062.9913.2714.09
Interest55.6343.6124.5720.3730.3522.3421.1920.3615.8612.3417.9317.01
Depreciation32.3727.3526.0826.3252.4838.6318.6117.7613.7413.8432.5932.47
Profit before tax37.19-26.11-10.3913.2139.24-38.65-15.441.443.9178.026.916.97
Tax %-178.46%3.03%40.42%24.00%23.73%-20.36%81.61%748.61%309.97%17.20%-10.42%
Net Profit103.57-26.90-14.5810.0429.93-30.79-28.04-9.35-8.2064.607.647.99
EPS in Rs18.44-4.79-2.601.765.16-5.37-4.91-1.57-1.0810.891.311.37
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth1%7%2%-2%
Compounded Profit Growth-19%17%27%260%
Stock Price CAGR-12%-3%9%-24%
Return on Equity-22%-57%-18%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital55.8556.1756.2956.2956.2957.5457.5457.5457.5457.5460.6463.64
Reserves101.74143.76137.35122.61123.08112.6653.11-15.72-24.72-35.2239.5647.23
Borrowings729.92384.56343.34237.62153.99221.84194.67276.51249.89130.66178.95145.56
Other Liabilities461.39299.73353.41308.28307.07374.62339.45250.42242.74174.7469.1563.82
Total Liabilities1,348.90884.22890.39724.80640.43766.66644.77568.75525.45327.72348.30320.25
Fixed Assets656.56226.51265.96267.60221.12343.82278.15256.17242.03148.00182.13149.75
CWIP18.6512.473.489.956.3311.915.576.267.358.497.248.01
Investments131.47247.3895.7968.1864.5046.5718.0849.3585.7129.2932.1328.49
Other Assets542.22397.86525.16379.07348.48364.36342.97256.97190.36141.94126.80134.00
Total Assets1,348.90884.22890.39724.80640.43766.66644.77568.75525.45327.72348.30320.25
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity356.62-4.76-6.27101.3824.95-81.37-29.73-35.2481.55-18.263.0641.32
Cash from Investing Activity-281.2947.2079.9644.1256.09108.0366.931.28-28.876.28-3.51-23.06
Cash from Financing Activity-83.91-43.17-69.01-116.06-86.87-38.16-36.6137.76-37.50-9.59-7.47-19.40
Net Cash Flow-8.58-0.734.6829.45-5.83-11.510.593.8015.18-21.58-7.93-1.14
Free Cash Flow308.04-71.2015.42120.4414.64-14.86-7.72-32.6676.24-20.6524.6010.95
CFO/OP1,162%-7%-106%2,025%68%-145%-134%-77%151%-52%9%100%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days217.59114.2461.2572.0931.36107.25140.1374.6669.8037.7828.5930.56
Inventory Days
Days Payable
Cash Conversion Cycle217.59114.2461.2572.0931.36107.25140.1374.6669.8037.7828.5930.56
Working Capital Days-384.90-990.21-885.38-771.68-592.81-443.75-790.73-537.05-729.57-569.84-96.38-42.63
ROCE %-0.13%3.13%3.24%-0.12%8.14%2.90%-1.98%9.30%13.93%17.90%15.83%7.88%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters65.31%65.31%65.31%65.31%65.31%66.92%66.92%66.92%66.92%66.92%68.48%69.95%
DIIs0.05%0.05%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public34.63%34.63%34.69%34.69%34.68%33.06%33.07%33.08%33.08%33.07%31.53%30.05%
No. of Shareholders29,13629,15229,69431,32132,16630,48430,23629,80629,42129,30128,92428,680

Fundamentals

Market Cap₹ 48.5 Cr.
Current Price₹ 8.00
Stock P/E5.83
Book Value₹ 18.3
ROCE7.88 %
ROE3.95 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-2%
Compounded Profit Growth (TTM)260%
Consolidated figures.
Valuation
Market capRs 51 Cr
Enterprise valueRs 192 Cr
P/E (TTM)6.17x
Price to book0.46x
Price to sales0.52x
EV / EBITDA3.40x
EV / EBIT8.00x
EV / sales1.94x
Price to cash flow1.24x
Earnings yield16.20%
P/E, 3-year average3.59x
P/B, 3-year average0.93x
P/E, 5-year average3.59x
P/B, 5-year average0.92x
Profitability
Operating margin (excl. other income)44.81%
Operating margin (incl. other income)58.28%
EBITDA margin57.18%
Pre-tax margin7.06%
Net profit margin8.44%
Net margin, latest quarter7.91%
ROE7.50%
ROCE9.28%
ROA2.37%
ROE, 3-year average30.95%
ROCE, 3-year average20.06%
ROA, 3-year average6.82%
ROE, 5-year average6.33%
ROCE, 5-year average13.85%
ROA, 5-year average2.83%
ROIC (approx.)10.53%
Tax rate-10.42%
Other income / net worth11.97%
Growth
Sales growth (latest year)-2.44%
Profit growth (latest year)-88.01%
Sales CAGR, 3 years2.17%
Sales CAGR, 5 years7.39%
Sales growth QoQ-3.11%
Profit growth QoQ12.07%
Sales growth YoY (latest quarter)0.82%
Profit growth YoY (latest quarter)25.81%
Per share
EPS (TTM)Rs 1.31
EPS (latest year)Rs 1.24
EPS (latest quarter)Rs 0.31
EPS, 3-year averageRs 3.69
EPS, 5-year averageRs 0.92
Book value per shareRs 17.42
Sales per shareRs 15.51
Cash flow per shareRs 6.49
Free cash flow per shareRs 1.72
Efficiency
Asset turnover0.31x
Fixed asset turnover0.66x
Inventory turnover8.78x
Inventory days42 days
Debtor days31 days
Debtors turnover11.94x
Cash conversion cycle31 days
Working capital days-43 days
Leverage
Total debtRs 146 Cr
Cash and bankRs 5 Cr
Net debtRs 141 Cr
Debt to equity1.31x
Net debt / EBITDA2.49x
Interest coverage1.41x
Owners' fund to total sources34.62%
Debt to assets45.45%
Cash flow
Cash from Operating Activity (latest year)Rs 41 Cr
Cash from Investing Activity (latest year)Rs -23 Cr
Cash from Financing Activity (latest year)Rs -19 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs 11 Cr
FCFE (approx.: FCF + change in debt)Rs -22 Cr
Cash from ops / profit, 5 years2.72x
Sales to cash flow2.38x
Statement figures
Net sales (TTM)Rs 99 Cr
Net sales (latest year)Rs 99 Cr
Sales (latest quarter)Rs 25 Cr
Operating profit excl. other income (latest year)Rs 44 Cr
Operating profit (latest quarter)Rs 10 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 56 Cr
PBDT (TTM)Rs 39 Cr
Profit before tax (TTM)Rs 7 Cr
Tax (latest year)Rs -1 Cr
Net profit (TTM)Rs 8 Cr
Net profit (latest year)Rs 8 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 32 Cr
Depreciation (latest quarter)Rs 8 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 30 Cr
Total expenditure (latest year)Rs 54 Cr
Total income (latest year)Rs 112 Cr
Share capitalRs 64 Cr
ReservesRs 47 Cr
Shareholders' fundsRs 111 Cr
Total assetsRs 320 Cr
Net blockRs 150 Cr
Capital work in progressRs 8 Cr
InvestmentsRs 28 Cr
ReceivablesRs 8 Cr
InventoryRs 3 Cr
Other liabilitiesRs 64 Cr
Shares outstanding (crore)6.36
Ownership
Promoter holding69.95% (+3.03 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 6.2 is at the 53th percentile of its own 3.0-year range (median 6.0, low 1.0, high 24.5).
P/B 0.46 is at the 4th percentile (median 0.94).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodFMNLNifty 50Difference
1 week-0.1%-2.8% +2.7 pts
1 month-19.5%-6.8% -12.7 pts
3 months-22.7%-7.6% -15.1 pts
6 months+12.5%+0.4% +12.1 pts
1 year-30.7%-9.9% -20.8 pts
2 years-26.3%-13.6% -12.8 pts
3 years+33.6%+14.2% +19.4 pts
5 years-13.1%+27.9% -41.0 pts

Red flags

F-score 7 of 8
explainWeak cash conversion Cash from operations was 39% of net profit over the last 3 years
explainLow interest cover Interest cover 1.4x in 2026
lookProfit leans on other income Other income was 192% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹25 Cr +0.8% vs Jun 2025. Net profit ₹2 Cr +23.1%.
Against our estimate for Jun 2026: sales +1.6%, profit -1.4% in line. Our estimate for Sep 2026: sales Rs 25 Cr, profit Rs 2 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-10-22Extra Ordinary General Meeting
2024-09-17Annual General Meeting
2023-09-15Annual General Meeting
2022-09-15Annual General Meeting
2021-09-20 Annual General Meeting
2020-09-21 Annual General Meeting
2019-09-05 Annual General Meeting
2018-09-10 Annual General Meeting
2017-09-07 Annual General Meeting
2016-09-14 Annual General Meeting
2015-09-23 Annual General Meeting
2014-09-11Annual General Meeting
2013-09-23Annual General Meeting
2012-08-06Annual General Meeting
2011-09-19Annual General Meeting
DateTypeWhat it says
2026-09-29Shareholder meetingScrutinizer Report and Voting results of 18th Annual General Meeting (AGM)
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-09General UpdatesGeneral Updates AGM Newspaper Advertisement
2026-08-25General UpdatesGeneral Updates
2026-08-14General UpdatesGeneral Updates - Q1 Result published in Newspaper
2026-08-13General UpdatesGeneral Updates - AGM
2026-08-13Board meeting outcomeFuture Market Networks Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-06-30Amalgamation/MergerAmalgamation/Merger - Withdrawal of Scheme of amalgamation amongst Future Market Networks Limited and Metawear Limited
2026-06-19Disclosure under SEBI TakeovVivek Biyani has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acqu...
2026-06-18ConversionLapse of warrants and forfeiture of upfront payment
2026-06-18Shareholder meetingProceedings of Extraordinary General Meeting held on Jun 17, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along ...
2026-06-13General UpdatesAllotment of 3118574 Equity Shares upon conversion of warrants to Surplus Finvest Private Limited
2026-06-11Disclosure under SEBI TakeovSurlplus Finvest Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Ind...
2026-06-08General UpdatesCorrigendum to the notice of extra ordinary general meeting
2026-05-29Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-05-22Shareholder meetingNotice of Extraordinary General Meeting to be held on June 17, 2026
2026-05-19General UpdatesWithdrawal of Scheme of Amalgamatiom amongst Future Market Networks Limited and others-Intimation In Terms of Regulation 30 Of SEBI (Listing Obligatio...
2026-05-19Board meeting outcomeAudited Financial Results (Both Standalone And Consolidated) For The Quarter And Financial Year Ended March 31, 2026 And Outcome Of Board Meeting.
2026-03-30General UpdatesDisclosure Under Regulation 7(2) Of SEBI (Prohibition Of Insider Trading) Regulations, 2015.
2026-03-27General UpdatesAllotment of 30,00,000 equity Shares upon conversion of Warrants
2026-02-10Board meeting outcomeFuture Market Networks Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-10Board meeting outcomeBoard meeting held on February 10, 2026.
2026-01-17General UpdatesUpdate on merger- under Regulation 30 of the SEBI (LODR) Regulations, 2015.
2025-11-18Shareholder meetingIn furtherance to our letter dated October 18, 2025, and Postal Ballot Notice dated October 15, 2025, it is hereby informed that the resolution as pro...
2025-11-14Board meeting outcomeFuture Market Networks Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Less than 100 unique PAN traded in previous 30 daysThe Overall encumbered share in the scrip is more than 50 Percent.

Quick answers

What is the market cap of Future Market Networks Ltd?

Future Market Networks Ltd (FMNL) has a market capitalisation of Rs 48.5 Cr. at the 2026-10-01 close.

What is the P/E ratio of Future Market Networks Ltd?

Future Market Networks Ltd trades at a P/E of 5.83 on trailing twelve-month profit, at the 2026-10-01 close.

What were Future Market Networks Ltd's latest quarterly results?

In the Jun 2026 quarter, Future Market Networks Ltd sales was Rs 25 Cr (+0.8% vs Jun 2025) and net profit was Rs 2 Cr.

What is the 52-week high and low of Future Market Networks Ltd?

The 52-week high is Rs 13.29 and the 52-week low is Rs 6.74.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03