Future Lifestyle Fashions Limited

Consumer Cyclical — Apparel Manufacturing · BSE

₹0.89₹0.00 (0.00%)

DalalBaazaar Score

24 / 100

🔴 Weak

Verdict

HIGH RISK

Risk

Very High

Driven by negative shareholders' equity — the company owes more than it owns, short-term liabilities exceed short-term assets, the company is currently loss-making.

In simple words: The company owes more than it owns — years of losses have wiped out its net worth, but sales are shrinking. Solvency — whether it can keep funding itself at all — is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:46 pm

Understanding the Business

Company site ↗

The 60-second version of Future Lifestyle Fashions Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Future Lifestyle Fashions Limited operates as an integrated fashion company in India. The company retails fashion products through departmental and neighborhood stores.

IndustryApparel Manufacturing

SectorConsumer Cyclical

Employees3,841

Annual revenue₹2,955 Cr

How does it make money?

Turns over ₹2,955 Cr a year. Of every ₹100 of sales, about ₹-86 reaches shareholders as profit, with ₹-19 left at the operating level before interest, tax and depreciation. Each of its 3,841 employees supports ₹76.9 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹76.9 lakh

Who are its competitors?

The closest listed comparisons in its industry are MARUTI SUZUKI INDIA LTD., TITAN COMPANY LIMITED, TRENT LTD, AVENUE SUPERMARTS LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 0 years revenue moved +0% while net margin moved +0% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+0%

Margin effect+0%

DalalBaazaar Score

24/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Shareholders' equity is negative — accumulated losses exceed the capital in the business

Quality vs. Valuation

Company Quality

25/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

30/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

Multiples unreliable — equity base is negative

EV/EBITDA

—

PEG

—

Red Flags

4 items require attention · 2 high · 2 watch

🔴Negative shareholders' equityFinancial
Liabilities exceed assets — accumulated losses have wiped out the company's net worth.
🔴Thin interest coverageFinancial
Operating profit covers interest only -7.5x — little room if earnings dip.
🟡Short-term liquidity is tightFinancial
Current ratio of 0.68 — near-term obligations exceed near-term assets.
🟡Low reported insider holdingOwnership
Reported insider holding is 0.0%. For Indian companies this field is an unreliable proxy — check the official promoter shareholding in the exchange filing.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Solvency comes before everything else
Liabilities exceed assets. Until net worth is rebuilt, the equity is a claim on a business that owes more than it owns, and further losses or a funding squeeze can leave shareholders with nothing.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
2 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -21%✓ -18.6%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Free cash flow remains positive✓ ₹672 Cr
Profit that never becomes cash eventually stops being profit.

Investment Checklist

3 / 8 checks passed

✗ Shareholders' equity is positive (assets exceed liabilities)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✗ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 5 neutral · 5 weak

Market Cap

₹18 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹-46.5

Loss-making

Negative earnings per share — the business is losing money

ROE

Not meaningful

Negative equity

Return on equity can't be read when equity itself is negative

ROCE

Not available

No data

Source didn't return this field

Debt/Equity

Not meaningful

Negative equity

Shareholders' equity is negative, so this ratio can't be read

Revenue Growth (YoY)

-78.7%

Shrinking

Sales are contracting

Profit Growth (YoY)

Not available

No data

Source didn't return this field

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹427 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

P/E (Forward)

0.1x

ROA

-13.3%

Weak

Assets generate little profit

Operating Margin

-61.0%

Weak

Thin margins leave little room for error

Net Margin

-92.3%

Weak

Very little revenue reaches the bottom line

Current Ratio

0.68

Tight

Tight short-term liquidity

Beta (vs Nifty)

0.56

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

1.0 / 1.1

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

14.3

Oversold zone

Financial Trend (Annual)

Year	Revenue	Gross Profit	Net Income
2022	₹2,955 Cr	₹546 Cr	-₹2,549 Cr

Balance Sheet & Cash Flow — FY2022

Total Assets

₹4,463 Cr

Total Liabilities

₹6,344 Cr

Total Debt

₹2,169 Cr

Cash & Equivalents

₹57 Cr

Operating Cash Flow

₹683 Cr

Capex

-₹12 Cr

Shareholding (proxy)

Institutional Holding

3.2%

Insider Holding

0.0%

Corporate Actions

Ex-Dividend Date

22 Jul 2019

Peer Comparison

Company	P/E	ROE
MARUTI SUZUKI INDIA LTD.	25.2x	13.4%
TITAN COMPANY LIMITED	68.5x	36.7%
TRENT LTD	87.2x	25.9%
AVENUE SUPERMARTS LIMITED	69.9x	12.7%

Recent News

6 general

Future Lifestyle Fashions Ltd Slides to Record Low Amid Prolonged Downtrend

MarketsMojo, 15 Oct

Future Lifestyle Fashions vs Nifty 50: Returns Compared

Univest, 23 Sept

Future Lifestyle Fashions Ltd. Peer Comparison – Compare with Others

Value Research, 31 Aug

Future Lifestyle Fashions Ltd Locks at Lower Circuit With 4.3% Loss — Sellers Queue, No Buyers in Sight

MarketsMojo, 16 Oct

Future Lifestyle Fashions Holds 35th Committee of Creditors Meeting Under CIRP

scanx.trade, 30 Apr

Future Lifestyle Fashions Share Price Forecast to 2030

Univest, 16 Jul

Watch Items

Revenue growth is negative (-78.7%) on the latest reported period — check if this is one-off or a trend.
Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
3 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
Reported insider holding is low — cross-check the official promoter shareholding % in the company's exchange filing.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

MiddlingGrowth

WeakBusiness Quality · Financial Health · Profitability · Valuation · Risk

Points for each in the Score ↑

Avoid until solvency is resolved

Future Lifestyle Fashions Limited owes more than it owns. Whatever the operating numbers show, the equity is a residual claim on a business with negative net worth, and that question has to be settled before any of the rest is worth weighing. 2 high-severity red flags sit above this conclusion and should be read first.

All 2 tripwires holding · see Key things to watch ↑