Future Market Networks Limited (IN:FMNL)
:FMNL
Top Page
Future Market Networks Limited
(FMNL)
Select Model
Select Model
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
Leverage Reduction
A materially lower debt-to-equity ratio meaningfully reduces interest burdens and refinancing risk for a project-driven real estate firm. This improves financial flexibility for mid-term development and leasing cycles, enhancing capacity to fund projects or absorb cyclical rent shortfalls without urgent external capital.
Negative Factors
Profitability Volatility
Historic swings between losses and strong margins make earnings unpredictable for a real estate developer reliant on project timing. Volatile profitability complicates long-term forecasting, partner selection and debt underwriting, raising the risk that favorable recent results may reverse with project delays or weaker leasing demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Leverage Reduction
A materially lower debt-to-equity ratio meaningfully reduces interest burdens and refinancing risk for a project-driven real estate firm. This improves financial flexibility for mid-term development and leasing cycles, enhancing capacity to fund projects or absorb cyclical rent shortfalls without urgent external capital.
Read all positive factors
Future Market Networks Limited (FMNL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹525.18M
Dividend YieldN/A
Average Volume (3M)19.51K
Price to Earnings (P/E)6.9
Beta (1Y)0.76
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
Positive
8.87
Price Trends
8.11
Positive
8.72
Negative
10.98
Negative
Market Momentum
<0.01
Negative
60.82
Neutral
84.63
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FMNL, the sentiment is Positive. The current price of 8.87 is above the 20-day moving average (MA) of 7.83, above the 50-day MA of 8.11, and below the 200-day MA of 10.98, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.82 is Neutral, neither overbought nor oversold. The STOCH value of 84.63 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ₹1.48B | 20.15 | ― | ― | -18.35% | -43.75% | |
57 Neutral | ₹3.72B | 186.32 | ― | 0.47% | -7.32% | -26.92% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
53 Neutral | ₹525.18M | 6.92 | ― | ― | 1.88% | -120.06% | |
46 Neutral | ₹1.25B | -678.38 | ― | ― | -75.03% | -17499.32% | |
43 Neutral | ₹982.71M | -0.31 | ― | ― | 4.63% | 67.17% | |
42 Neutral | ₹404.52M | 28.20 | ― | ― | 27.73% | ― |
* Services Sector Average
IN:FMNL
Future Market Networks Limited
8.66
-7.06
-44.91%
IN:ARSSINFRA
ARSS Infrastructure Projects Limited
54.84
16.01
41.23%
IN:INDBANK
Indbank Merchant Banking Services Limited
33.41
3.51
11.74%
IN:MANUGRAPH
Manugraph India Limited
13.30
-5.49
-29.22%
IN:RPPINFRA
RPP Infra Projects Ltd.
75.04
-85.62
-53.29%
IN:SADBHIN
Sadbhav Infrastructure Project Ltd.
2.79
-1.99
-41.63%
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.