FOCE - Foce India

📊 NSE: FOCE 🏢 Trading 📅 Last Updated: 12/13/2025 22:07

💰 Financial Performance

Revenue Growth by Segment

Not disclosed in available documents; however, the company operates primarily as an authorized distributor for FOCE watches in India.

Geographic Revenue Split

100% of revenue is generated within India, as the company is the 'Authorized Distributor for India of FOCE Watches'.

Profitability Margins

Not disclosed in available documents. The company reported no dividend payments for the fiscal year ended March 31, 2025, indicating a focus on capital retention or lack of distributable surplus.

Capital Expenditure

Not disclosed in available documents; however, the company maintains records for Property, Plant, and Equipment, suggesting ongoing maintenance of distribution infrastructure.

Credit Rating & Borrowing

The company has not defaulted on any loans or interest payments. It has not been sanctioned working capital limits in excess of INR 5 Cr from banks or financial institutions on the basis of security of current assets.

⚙️ Operational Drivers

Raw Materials

Finished FOCE watches (100% of core trading inventory). As a distributor, the primary 'raw material' is the procurement of finished goods for resale.

Import Sources

Not specifically disclosed, but as an 'Authorized Distributor for India', procurement likely originates from the global FOCE brand manufacturing hubs.

Key Suppliers

FOCE (Brand owner/Manufacturer). The company's operations are entirely dependent on its status as the authorized distributor for this specific brand.

Capacity Expansion

Not applicable as a distribution entity; however, the company operates through two wholly-owned subsidiaries: FO Industries Private Limited and FOCE Realty Solutions Private Limited.

Raw Material Costs

Not disclosed in absolute terms; however, physical verification of inventory showed no discrepancies exceeding 10%, indicating tight control over stock-in-trade.

Manufacturing Efficiency

Not applicable for a distributor; however, internal financial controls are audited and deemed effective for ensuring reliable financial reporting.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

Growth is pursued through the expansion of the distribution network for FOCE watches across India and leveraging its status as a listed SME on the NSE platform to access capital markets if required.

Products & Services

FOCE branded watches and related horological products.

Brand Portfolio

FOCE (Authorized Distribution Rights).

Market Expansion

Targeting the Indian domestic watch market through its registered office in Mumbai and nationwide distribution rights.

Strategic Alliances

Authorized distribution agreement with FOCE; ownership of subsidiaries FO Industries Private Limited and FOCE Realty Solutions Private Limited.

🌍 External Factors

Industry Trends

The Indian watch industry is shifting toward branded retail and SME listings are providing smaller players with the governance framework needed for institutional growth.

Competitive Landscape

Competes with other domestic and international watch distributors and brands in the Indian lifestyle and fashion segment.

Competitive Moat

The primary moat is the 'Authorized Distributor' status for India, which provides exclusive or protected access to the FOCE brand, though this is dependent on contract renewal.

Macro Economic Sensitivity

Highly sensitive to Indian consumer discretionary spending; a 1% drop in consumer confidence typically impacts luxury/accessory sales volumes.

Consumer Behavior

Increasing demand for branded fashion accessories among the Indian middle class is a primary driver for distribution volume.

Geopolitical Risks

Trade barriers or import duty hikes on watches would increase the cost of goods sold, potentially squeezing distribution margins.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with SEBI (LODR) Regulations 2015. As an SME-listed entity, it is exempt from certain Corporate Governance reporting requirements under Regulation 15(2).

Taxation Policy Impact

The company is subject to standard Indian corporate tax and GST. A specific disputed liability of INR 2.82 Cr exists under the GST Act.

Legal Contingencies

FO Industries Private Limited (subsidiary) has a pending dispute with the GST Appellate Authority for Tax & Penalty amounting to INR 2,82,47,432 for F.Y. 2021-23.