FORCE MOTORS LIMITED·COMMERCIAL VEHICLE 63.00·Automobiles Companies

2026-06-25 NSE BSE Web 10%

Price

18,391

+2.47%
O:18115
H:18940
L:18110
C:18391

52W Range

1364026450
+35%/-30%

Market Cap

₹23,968.83 Cr

Traded: ₹379.34 Cr (1.58%) 0.0x

Free Float: ₹5,869.97 Cr (6.46% of FF traded)

Volume · 60D trend

2.04 L 0.0x

Delivery: % 0.0x

View Delivery Data

Returns

1W:+0% 1M:-1% 3M:-11% 6M:-24% 12M:+11%

Valuation

P/E20.0
P/B5.7
P/S2.6
EV/EBIT12.2

Business Strength

ROE20.7%
ROCE29.8%
OPM16.4%
NPM13.4%

Growth (3Y CAGR)

EPS+51.3%
Sales+22.0%
Profit+221.0%
3Y Return+146.0%

Balance Sheet

Debt/Equity0.0
Debt0 Cr
Pledge0.0%
CWIP/Fixed Asset10.6%

Cash Position

CFO/NP107.0%
FCF761 Cr
FCF 3Y Avg2,177 Cr
Cash/MCap3.0%

Others

Div Yield0.1%
Div Payout5.0%
Cash Conv. Cycle20 days
Tradeable Free Float24.5%

MTF Exposure Trend

60 sessions · funded amount, % of FF, daily delta

Current
₹ 304.24 Cr
5.18% FF
60d high
₹ 304.24 Cr
60d low
₹ 54.47 Cr
60d mean
₹ 199.30 Cr
vs mean
▲ 52.65%

Growth Trends

Metric10Y5Y3Y1YTTMTrend
ROE
+11.0%
+16.0%
+24.0%
--
--
Accelerating
Return
+19.0%
+78.0%
+146.0%
+123.0%
--
Stable
Sales
+12.0%
+35.0%
+22.0%
--
+12.0%
Decelerating
Profit
+19.0%
+66.0%
+221.0%
--
+92.0%
Stable

Quarterly Results

Mar 2026

29 Apr
Rev
2.5K Cr
+8% YoY+20% QoQ
OPM16.0%
NPM10.9%
PAT
+57% YoY279 Cr
EPS
-36% YoY211.4

Dec 2025

5 Feb
Rev
2.1K Cr
+13% YoY+2% QoQ
OPM18.0%
NPM19.1%
PAT
+121% YoY406 Cr
EPS
+252% YoY308.2

Sep 2025

Rev
2.1K Cr
+7% YoY-9% QoQ
OPM17.0%
NPM16.9%
PAT
+160% YoY351 Cr
EPS
+160% YoY266.1

Jun 2025

Rev
2.3K Cr
+22% YoY-3% QoQ
OPM14.0%
NPM7.7%
PAT
+52% YoY176 Cr
EPS
+52% YoY133.8

Mar 2025

Rev
2.4K Cr
+17% YoY+25% QoQ
OPM14.0%
NPM18.5%
PAT
+27% YoY435 Cr
EPS
+210% YoY329.9

Dec 2024

Rev
1.9K Cr
+12% YoY-3% QoQ
OPM12.0%
NPM6.1%
PAT
+35% YoY115 Cr
EPS
+35% YoY87.5

Sep 2024

Rev
1.9K Cr
+8% YoY+3% QoQ
OPM14.0%
NPM7.0%
PAT
+44% YoY135 Cr
EPS
+44% YoY102.5

Jun 2024

Rev
1.9K Cr
+27% YoY-6% QoQ
OPM13.0%
NPM6.2%
PAT
+69% YoY116 Cr
EPS
+69% YoY87.8

Mar 2024

Rev
2.0K Cr
+35% YoY+19% QoQ
OPM14.0%
NPM7.0%
PAT
+260% YoY140 Cr
EPS
-4% YoY106.5

Dec 2023

Rev
1.7K Cr
+30% YoY-6% QoQ
OPM13.0%
NPM5.0%
PAT
+648% YoY85 Cr
EPS
+648% YoY64.8

Sep 2023

Rev
1.8K Cr
+43% YoY+21% QoQ
OPM12.0%
NPM5.2%
PAT
+388% YoY94 Cr
EPS
+388% YoY71.2

Jun 2023

Rev
1.5K Cr
---0% QoQ
OPM12.0%
NPM4.6%
PAT
+513% YoY69 Cr
EPS
--52.1

Mar 2023

Rev
1.5K Cr
--+14% QoQ
OPM8.0%
NPM9.9%
PAT
+191% YoY147 Cr
EPS
--111.3

Dec 2022

Rev
1.3K Cr
--+3% QoQ
OPM4.0%
NPM-1.2%
PAT
+64% YoY-16 Cr
EPS
---11.8

Sep 2022

Rev
1.3K Cr
----
OPM8.0%
NPM1.5%
PAT
+1899% YoY19 Cr
EPS
--14.6

Revenue & Margin Trends

Annual

Quarterly

Balance Sheet Health

Leverage

Debt / Equity0.00
Interest Coverage53.3x
Promoter Pledge0.0%
Borrowings0 Cr

Efficiency

Receivable Days8 days
Inventory Days72 days
Payable Days59 days
Cash Conversion cycle20 days

Cash Position

Operating Cash Flow1.3K Cr
Investing Cash Flow-900 Cr
Financing Cash Flow-73 Cr
Free Cash Flow761 Cr

Detailed Financials

Mar 2026
Dec 2025
Sep 2025
Jun 2025
Mar 2025
Dec 2024
Sep 2024
Jun 2024
Mar 2024
Dec 2023
Sep 2023
Jun 2023
Mar 2023
Dec 2022
Sep 2022
Sales2,5502,1292,0812,2972,3561,8891,9411,8852,0111,6921,8021,4881,4901,3041,264
Expenses2,1361,7551,7191,9742,0271,6581,6641,6401,7331,4771,5811,3101,3721,2501,166
Operating Profit4143743633233292322772452792152211771185498
OPM %16.0%18.0%17.0%14.0%14.0%12.0%14.0%13.0%14.0%13.0%12.0%12.0%8.0%4.0%8.0%
Other Income39241262541820915184911246512
Interest3000745914141618181720
Depreciation727371707271696968686763636061
Profit Before Tax378543317278668177211182214137147107284-1830
Tax %26.0%25.0%-11.0%36.0%35.0%35.0%36.0%36.0%35.0%37.0%36.0%36.0%48.0%-14.0%36.0%
Net Profit279406351176435115135116140859469147-1619
Exceptional Items021100395000000020800
EPS (Rs)211.4308.2266.1133.8329.987.5102.587.8106.564.871.252.1111.3-11.814.6
Sales Growth (YoY)8.2%12.7%7.2%21.9%17.2%11.6%7.7%26.7%35.0%29.8%42.6%--------
Sales Growth (QoQ)19.8%2.3%-9.4%-2.5%24.7%-2.7%3.0%-6.3%18.9%-6.1%21.1%-0.1%14.3%3.2%--
OP Growth (YoY)25.8%61.2%31.0%31.8%17.9%7.9%25.3%38.4%136.4%298.1%125.5%--------
OP Growth (QoQ)10.7%3.0%12.4%-1.8%41.8%-16.2%13.1%-12.2%29.8%-2.7%24.9%50.0%118.5%-44.9%--
Profit Growth (YoY)57.0%121.0%160.0%52.0%27.0%35.0%44.0%69.0%260.0%648.0%388.0%513.0%191.0%64.0%1899.0%
EPS Growth (YoY)-35.9%252.2%159.7%52.4%209.9%35.0%43.8%68.7%-4.3%647.8%387.6%--------
EPS Growth (QoQ)-31.4%15.8%98.9%-59.4%277.0%-14.6%16.7%-17.5%64.3%-9.0%36.8%-53.2%1040.4%-181.0%--
OP Margin16.2%17.6%17.4%14.1%14.0%12.3%14.3%13.0%13.9%12.7%12.3%11.9%7.9%4.1%7.8%
Net Margin10.9%19.1%16.9%7.7%18.5%6.1%7.0%6.2%7.0%5.0%5.2%4.6%9.9%-1.2%1.5%
Material Cost %70.0%70.0%69.0%73.0%73.0%75.0%73.0%74.0%72.0%72.0%75.0%74.0%77.0%78.0%78.0%
Employee Cost %7.0%8.0%8.0%7.0%8.0%7.0%7.0%7.0%8.0%8.0%7.0%8.0%9.0%8.0%8.0%
P/S2.653.093.68------------------------
P/E20.0020.2229.78------------------------
P/B5.727.809.05------------------------

Shareholding Pattern

Shareholders:78.8K (+45.9%)
Current MixMar 2026

Exchange Filings

50
Insider Trading / SAST25 Jun 2026

Intimation for closure of trading window.

Company Update01 Jun 2026

Cessation of Mr. Manoj Patil as Senior Management Personnel of the Company

Company Update01 Jun 2026

Resignation of Senior Management Personnel

Company Update01 Jun 2026

Monthly Business Update for the month of May, 2026 by Force Motors Limited.

Company Update27 May 2026

Annual Secretarial Compliance Report for the Financial Year ended on 31st March, 2026

Company Update05 May 2026

Submission of monthly sales data for the month of April, 2026

Company Update05 May 2026

Announcement under Regulation 30 (LODR)- Press Release- New Product Launch.

Company Update05 May 2026

Announcement under Regulation 30 (LODR)-Updates-New Product Launch

Company Update30 Apr 2026

Newspaper Publication of Audited Standalone and Consolidated financial results of the Company for the quarter and year ended on 31.03.2026.

Board Meeting29 Apr 2026

Outcome of Board Meeting - Financial Results and Dividend Updates.

Result29 Apr 2026

Results-Financial Results for the quarter and financial year ended on 31st March, 2026.

Company Update28 Apr 2026

Intimation of Newspaper Publication- 2nd Notice for Special Window and Second 100 Days Campaign - "Saksham Niveshak"

Company Update23 Apr 2026

Completion of Acquisition.

Board Meeting22 Apr 2026

Force Motors Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/04/2026 ,inter alia, to consider and approve Board Meeting for consideration ....

Insider Trading / SAST22 Apr 2026

Closure of Trading Window

Company Update14 Apr 2026

Compliance Certificate under Reg 74 (5) of SEBI (DP) Regulations, 2018

Company Update01 Apr 2026

Monthly business update

Insider Trading / SAST26 Mar 2026

Intimation of closure of Trading Window.

AGM/EGM17 Mar 2026

Outcome of Postal Ballot - Scrutinizer Report.

AGM/EGM17 Mar 2026

Outcome of Postal Ballot- Scrutinizer Report and Voting Results pursuant to Regulation 44 of SEBI (LODR) Regulations, 2015.

Company Update05 Mar 2026

Intimation under Regulation 30(13) of SEBI (LODR) Regulations, 2015.

Company Update05 Mar 2026

Intimation under Regulation 30(13) of SEBI (LODR) Regulations, 2015.

Company Update05 Mar 2026

intimation of Newspaper Publication.

Company Update05 Mar 2026

intimation under Regulation 30(13)

Company Update05 Mar 2026

Intimation under Regulation 30(13) of SEBI (LODR) Regulations, 2015

Company Update02 Mar 2026

Monthly business update for february, 2026

Company Update13 Feb 2026

Newspaper Publication - Postal Ballot Notice dated 12.02.2026.

AGM/EGM12 Feb 2026

Intimation of Notice of Postal Ballot dated 12th February, 2026.

Company Update12 Feb 2026

Investor Presentation on Unaudited (Standalone and Consolidated) Financial Results for the Quarter and nine months ended on 31.12.2025.

Company Update06 Feb 2026

Disclosure under regulation 30 on update on Proposed Acquisition

Company Update05 Feb 2026

unaudited Standalone and Consolidated financial results of the Company for the quarter and nine months ended on 31.12.2025

Company Update05 Feb 2026

Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015

Company Update04 Feb 2026

Intimation under Regulation 30 - Acquisition

Board Meeting04 Feb 2026

Outcome of Board Meeting-Unaudited Standalone and Consolidated financial results for the quarter and nine months ended on 31.12.2025

Result04 Feb 2026

Outcome-Results-Financial Results for the quarter and nine months ended on 31st December 2025.

Company Update02 Feb 2026

Sales Data for the month of January, 2026

Company Update29 Jan 2026

Appointment of Lt. Gen. Vinod Gulabrao Khandare (Retd.) as an Additional Director to be designated as Independent Director for first term of 5 years w.e.f. 29th January, 2026, subject to ....

Company Update29 Jan 2026

Appointment of Independent Director

Insider Trading / SAST28 Jan 2026

Update on Closure of Trading Window.

Board Meeting28 Jan 2026

Force Motors Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/02/2026 ,inter alia, to consider and approve Unaudited standalone and consolidated ....

Company Update14 Jan 2026

Certificate under Regulation 74 (5) of SEBI (DP) Regulations, 2018, for quarter ended on 31st December, 2025

Company Update01 Jan 2026

Monthly Business updates for the month of December 2025.

Insider Trading / SAST29 Dec 2025

Closure of Trading Window for the quarter ending on 31st December, 2025

Company Update19 Dec 2025

Appointment of Mr. Gautam Hemant Bambawale and Mr. Nitin Nandkishor Kareer as an Additional Director to be designated as Independent Director of the Company for the first term of 5 years ....

Company Update01 Dec 2025

Monthly Business Updates

Company Update14 Nov 2025

Intimation of Investor Presentation.

Company Update08 Nov 2025

Intimation of newspaper publication.

Company Update07 Nov 2025

Intimation of newspaper publication.

Board Meeting07 Nov 2025

Board Meeting Outcome: Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended on 30.09.2025

Result07 Nov 2025

Results-Financial Standalone and Consolidated Results for the quarter and half year ended on 30.09.2025

Annual Reports

15

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

Credit Ratings

6
crisilRating update
25 Jul 2025Report
crisilRating update
26 Jul 2024Report
crisilRating update
22 Dec 2023Report
crisilRating update
06 Feb 2023Report
crisilRating update
24 Jan 2023Report
crisilRating update
07 Feb 2022Report

Concalls

2

Feb 2026

28 Feb 2026

Nov 2025

30 Nov 2025

Held by ETFs

21 ETFs hold forcemot · sorted by weight

#ETFWeight %
1

SMALLCAP

MIRAEAMC - SMALLCAP

2.04%
2

EMULTIMQ

EDELAMC - EMULTIMQ

0.90%
3

MIDSMALL

MIRAEAMC - MIDSMALL

0.73%
4

SML100CASE

ZERODHAAMC - SML100CASE

0.87%
5

AONETMMQ50

AONEAMC - AONETMMQ50

0.64%
6

SMALL250

MIRAEAMC - SMALL250

0.46%
7

SMALLADD

DSPAMC - SMALLADD

0.48%
8

GROWWSC250

GROWWAMC - GROWWSC250

0.46%
9

MOMENTUM50

MOTILALAMC - MOMENTUM50

0.47%
10

SBISMLETF

SBIAMC - SBISMLETF

0.46%
11

MOSMALL250

MOTILALAMC - MOSMALL250

0.46%
12

GROWWMOM50

GROWWAMC - GROWWMOM50

0.46%
13

HDFCSML250

HDFCAMC - HDFCSML250

0.46%
14

GROWWEV

GROWWAMC - GROWWEV

0.29%
15

EVIETF

ICICIPRAMC - EVIETF

0.29%
16

EVINDIA

MIRAEAMC - EVINDIA

0.29%
17

MULTICAP

MIRAEAMC - MULTICAP

0.11%
18

MONIFTY500

MOTILALAMC - MONIFTY500

0.05%
19

HDFCBSE500

HDFCAMC - HDFCBSE500

0.05%
20

AONETOTAL

AONEAMC - AONETOTAL

0.05%
21

BSE500IETF

ICICIPRAMC - ICICI500

0.05%