Future Market Networks Limited (IN:FMNL)
:FMNL
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Future Market Networks Limited
(FMNL)
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Rating:53Neutral
Price Target:
₹7.50
▼(-15.45% Downside)
Action:ReiteratedDate:02/03/26
The score is supported by improved financial performance (profitability and cash flow turnaround plus lower leverage), but is held back by weak technicals (price below key moving averages with negative MACD) and limited valuation support due to a negative P/E and no dividend yield data.
Positive Factors
Improved Leverage
A dramatic reduction in debt-to-equity to 0.69 materially improves financial resilience. Lower leverage reduces interest burden, increases capacity to fund new developments or absorb cyclical rent variability, and creates durable flexibility for strategic capital allocation.
Negative Factors
Volatile Profitability
Wide swings in profitability and ROE indicate earnings are driven by timing of projects or one-offs rather than steady operations. Persistent volatility undermines forecasting, increases refinancing and planning risk, and limits confidence in recurring cash returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Leverage
A dramatic reduction in debt-to-equity to 0.69 materially improves financial resilience. Lower leverage reduces interest burden, increases capacity to fund new developments or absorb cyclical rent variability, and creates durable flexibility for strategic capital allocation.
Read all positive factors
Future Market Networks Limited (FMNL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹491.83M
Dividend YieldN/A
Average Volume (3M)19.51K
Price to Earnings (P/E)6.9
Beta (1Y)0.65
Revenue Growth1.88%
EPS Growth-120.06%
CountryIN
Employees54
SectorServices
Sector StrengthN/A
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.32
Shares Outstanding60,644,382
10 Day Avg. Volume18,336
30 Day Avg. Volume19,511
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.95
Price to Sales (P/S)0.94
P/FCF Ratio31.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Future Market Networks Limited Business Overview & Revenue Model
Company Description
Future Market Networks Limited, together with its subsidiaries, engages in the development and management of commercial, trade, retail, and infra-logistic projects in India. It also constructs, develops, and sells integrated large-scale warehouses...
How the Company Makes Money
FMNL generates revenue primarily through the development, leasing, and management of commercial real estate properties. This includes rental income from leasing out retail and commercial spaces to businesses, as well as management fees for maintai...
Future Market Networks Limited Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 990.56M | 1.01B | 930.33M | 924.02M | 852.60M | 1.27B |
| Gross Profit | 700.17M | 499.28M | 721.83M | 709.22M | 695.13M | 892.63M |
| EBITDA | 290.00M | 1.03B | 335.13M | 348.73M | 255.50M | 1.22B |
| Net Income | -188.39M | 660.37M | -61.91M | -90.10M | -282.71M | 296.79M |
Balance Sheet | ||||||
| Total Assets | 3.40B | 3.50B | 3.29B | 5.26B | 5.69B | 7.67B |
| Cash, Cash Equivalents and Short-Term Investments | 112.32M | 115.65M | 152.71M | 773.47M | 416.69M | 174.04M |
| Total Debt | 1.65B | 1.79B | 1.31B | 2.50B | 2.77B | 2.22B |
| Total Liabilities | 2.38B | 2.51B | 3.06B | 4.91B | 5.24B | 5.92B |
| Stockholders Equity | 1.04B | 1.00B | 223.24M | 328.21M | 418.26M | 1.70B |
Cash Flow | ||||||
| Free Cash Flow | 80.30M | 30.56M | -206.52M | 761.60M | -359.90M | -882.59M |
| Operating Cash Flow | 80.30M | 30.56M | -182.63M | 815.50M | -352.37M | -813.75M |
| Investing Cash Flow | 22.66M | -35.12M | 62.77M | -288.69M | 12.79M | 1.08B |
| Financing Cash Flow | -111.58M | -74.72M | -95.91M | -375.03M | 377.56M | -381.62M |
Future Market Networks Limited Technical Analysis
Neutral
8.87
Price Trends
8.09
Positive
8.75
Negative
11.02
Negative
Market Momentum
-0.07
Negative
53.38
Neutral
85.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FMNL, the sentiment is Neutral. The current price of 8.87 is above the 20-day moving average (MA) of 7.80, above the 50-day MA of 8.09, and below the 200-day MA of 11.02, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 53.38 is Neutral, neither overbought nor oversold. The STOCH value of 85.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:FMNL.
Future Market Networks Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹1.45B | 20.15 | ― | ― | -18.35% | -43.75% | |
57 Neutral | ₹3.59B | 186.32 | ― | 0.47% | -7.32% | -26.92% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹491.83M | 6.92 | ― | ― | 1.88% | -120.06% | |
46 Neutral | ₹1.25B | -678.38 | ― | ― | -75.03% | -17499.32% | |
43 Neutral | ₹936.92M | -0.31 | ― | ― | 4.63% | 67.17% | |
42 Neutral | ₹410.91M | 28.20 | ― | ― | 27.73% | ― |
* Services Sector Average
IN:FMNL
Future Market Networks Limited
8.11
-7.59
-48.34%
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Future Market Networks Limited Corporate Events
Future Market Networks Files NCLT Application for Merger With Metawear Limited
Jan 17, 2026
Future Market Networks Limited has informed the stock exchanges that, following in-principle approvals from BSE and NSE, it has filed an application with the National Company Law Tribunal’s Mumbai Bench for the merger of Metawear Limited int...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.