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Force Motors Ltd.

Automobile & AncillariesAutomobiles-Trucks/Lcv

www.forcemotors.com BSE: 500033NSE: FORCEMOT

₹17,315.00BSE0.31%

16 Sep, 4:01 PM

₹17,315.00

₹22.81K Cr

18.22

5.18

33.53%

₹17,500.00

₹17,200.00

₹26,485.95

₹14,911.45

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Price Performance

Peer Comparison

Name
TMCV TMCV	424.10	37.27	1,56,187.10	0.94	2,556.00	82.96%	20,667.00	19.30%	31.55
ASHOK LEYL. ASHOKLEY	156.80	26.50	92,102.04	2.23	667.77	1.53%	13,069.59	11.62%	14.10
Force Motors Ltd. FORCEMOT	17,315.00	18.22	22,814.70	0.29	216.59	22.81%	2,440.01	6.21%	41.93
OLECTRA OLECTRA	1,166.35	54.07	9,573.49	0.05	26.66	2.44%	575.51	65.74%	21.12
SMLMAH SMLMAH	5,967.65

Quarterly Results

consolidated figures in ₹ Crores · Quarterly

Particulars	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,884.90	1,941.33	1,889.49	2,356.01	2,297.25	2,081.40	2,128.56	2,549.84	2,440.01
Expenses	1,635.74	1,658.71	1,657.79	2,026.77	1,965.22	1,718.63	1,754.55	2,135.50	2,112.22
	249.16	282.62	231.70	329.24	332.03	362.77	374.01	414.34	327.79
	13.22%	14.56%	12.26%	13.97%	14.45%	17.43%	17.57%	16.25%	13.43%
	14.97	8.57	14.89	412.70	25.06	24.49	238.30	33.85	38.10
Interest	9.06	5.43	4.12	7.26	0.13	0.23	0.16	2.74	0.04
	69.29	68.56	70.51	71.88	70.29	70.95	72.72	72.03	77.40
	181.82	211.48	177.15	667.81	277.71	317.18	542.62	378.20	293.29
	36.35%	36.14%	34.89%	34.90%	36.49%	-10.57%	25.15%	26.35%	26.15%
	115.70	135.02	115.31	434.71	176.33	350.67	406.11	278.52	216.56
	87.78	102.44	87.49	329.83	133.79	266.06	308.13	211.32	164.31

Profit & Loss

consolidated figures in ₹ Crores · Annual

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
INCOME :
	3,240.42	5,028.98	6,992.13	8,071.73	9,057.05
	3,240.42	5,028.98	6,992.13	8,071.73	9,057.05
EXPENDITURE :
Increase/Decrease in Stock	37.78	-7.88	-107.03	-11.53	-22.51
Raw Material Consumed	2,581.43	3,928.05	5,231.50	5,958.64	6,427.20
Power & Fuel Cost	42.50	53.69	57.31	52.12	52.78
Employee Cost	368.08	422.44	533.34	591.89	686.31
Other Manufacturing Expenses	92.55	162.81	213.50	212.28	249.39
General and Administration Expenses	13.50	20.47	30.25	28.26	24.75
Selling and Distribution Expenses	38.29	56.67	78.50	85.84	106.20
Miscellaneous Expenses	81.94	121.81	128.44	178.74	194.74
Less: Expenses Capitalised	82.78	58.89	82.37	117.23	144.96
	3,173.29	4,699.17	6,083.44	6,979.01	7,573.90
Operating Profit (Excl OI)	67.13	329.81	908.69	1,092.72	1,483.15
	51.88	62.03	39.10	56.56	110.46
	119.01	391.84	947.79	1,149.28	1,593.61
Interest	41.04	68.40	62.14	25.87	3.26
PBDT	77.97	323.44	885.65	1,123.41	1,590.35
	190.94	240.74	266.75	280.24	285.99
Profit Before Taxation & Exceptional Items	-112.97	82.70	618.90	843.17	1,304.36
Exceptional Income / Expenses		208.32		394.57	211.24
	-129.64	272.42	605.07	1,238.26	1,515.71
Provision for Tax	-38.65	138.68	216.86	437.40	303.96
	-90.99	133.74	388.21	800.86	1,211.75
Extra items				0.00	0.00
Minority Interest	-0.09	-0.10	-0.12	-0.12	-0.12
Consolidated Net Profit	-91.08	133.64	388.09	800.74	1,211.63
Profit Balance B/F	1,399.45	1,304.89	1,427.49	1,800.92	2,572.35
Appropriations	1,308.37	1,438.53	1,815.58	2,601.66	3,783.98
Equity Dividend %	100.00%	100.00%	200.00%	400.00%	500.00%
	-69.10	101.40	294.45	607.54	919.29
Adjusted EPS	-69.10	101.40	294.45	607.54	919.29

Balance Sheet

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
	13.18	13.18	13.18	13.18	13.18
Total Reserves	1,734.69	1,861.85	2,241.96	3,020.25	4,181.17
Reserve excluding Revaluation Reserve	1,734.69	1,861.85	2,241.96	3,020.25	4,181.17
	1,747.87	1,875.03	2,255.14	3,033.43	4,194.35
Minority Interest	1.99	2.09	2.21	2.33	2.46
Secured Loans	600.55	444.97	231.77	1.34
Unsecured Loans		150.00	150.00
Deferred Tax Assets / Liabilities	-94.08	-5.85	103.15	324.89	227.62
Other Long Term Liabilities	1.02	3.45	3.90	5.86	7.13
Long Term Provisions	26.91	28.46	32.57	40.89	61.77
Total Non-Current Liabilities	534.40	621.03	521.39	372.98	296.52
Trade Payables	516.91	744.95	854.29	783.59	1,040.32
Other Current Liabilities	427.51	496.25	589.95	710.20	691.80
Short Term Borrowings	210.00	95.00
Short Term Provisions	128.19	173.20	191.71	231.45	312.10
Total Current Liabilities	1,282.61	1,509.40	1,635.95	1,725.24	2,044.22
Total Liabilities	3,566.87	4,007.55	4,414.69	5,133.98	6,537.55
Gross Block	3,907.68	4,200.73	4,399.81	4,581.09	4,791.48
Less: Accumulated Depreciation	1,879.70	2,113.42	2,375.25	2,618.66	2,883.34
Net Block	2,027.98	2,087.31	2,024.56	1,962.43	1,908.14
Capital Work in Progress	155.65	38.66	25.79	92.54	235.72
Non Current Investments	110.77	97.34	91.03	103.13	98.34
Long Term Investment	110.77	97.34	91.03	103.13	98.34
Long Term Loans & Advances	94.02	74.52	53.07	171.98	127.67
Other Non Current Assets		22.86	22.35	22.34	22.17
Total Non-Current Assets	2,539.98	2,442.38	2,368.72	2,553.62	2,705.93
Inventories	637.13	826.55	1,163.19	1,183.76	1,258.01
Sundry Debtors	189.38	196.84	104.06	174.34	191.15
Cash and Bank	74.81	141.34	448.76	507.41	831.59
Other Current Assets	9.52	260.30	204.60	106.92	436.93
Short Term Loans and Advances	116.05	140.14	125.36	607.93	1,113.94
Total Current Assets	1,026.89	1,565.17	2,045.97	2,580.36	3,831.62
Net Current Assets (Including Current Investments)	-255.72	55.77	410.02	855.12	1,787.40
Total Assets	3,566.87	4,007.55	4,414.69	5,133.98	6,537.55
Contingent Liabilities	118.45	111.07	107.29	118.28	123.82
Total Debt	1,068.82	954.76	524.50	17.43	0.00
	1,326.15	1,422.63	1,711.03	2,301.54	3,182.36
Adjusted Book Value	1,326.15	1,422.63	1,711.03	2,301.54	3,182.36

Cash Flow

consolidated figures in ₹ Crores

Particulars	FY 2021-22 (Mar)	FY 2022-23 (Mar)	FY 2023-24 (Mar)	FY 2024-25 (Mar)	FY 2025-26 (Mar)
No of Months	12.00	12.00	12.00	12.00	12.00
	-129.64	272.42	605.07	1,238.26	1,515.71
Adjustment	245.59	454.03	337.19	301.30	210.93
Changes In working Capital	-99.92	-191.28	224.09	226.89	-2.20
Cash Flow after changes in Working Capital	16.03	535.17	1,166.35	1,766.45	1,724.44
Cash Flow from Operating Activities	18.42	531.74	1,014.45	1,546.47	1,297.09
Cash Flow from Investing Activities	-355.74	-256.47	-197.50	-926.23	-899.84
Cash Flow from Financing Activitie	374.77	-206.85	-509.19	-561.84	-73.40
Net Cash Inflow / Outflow	37.45	68.42	307.76	58.40	323.85
Opening Cash & Cash Equivalents	34.52	71.97	140.39	448.15	506.55
Effect of Foreign Exchange Fluctuations					0.02
Closing Cash & Cash Equivalent	71.97	140.39	448.15	506.55	830.42

Ratios

Valuation

18.22

5.18

13.72

2.48

950.09

3,343.97

Profitability

33.53

41.93

20.76

16.38

13.38

Leverage & Liquidity

0.00

1.87

465.94

Returns

0.29

1.55

Shareholding Pattern

Numbers in percentages

Particulars	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
	61.63	61.63	61.63	61.63	61.63	61.63	61.63	61.63	61.63
	8.81	8.81	9.06	9.78	11.43	11.75	12.26	12.69	10.98
	29.57	29.56	29.31	28.59	26.95	26.62	26.12	25.68	27.39
	38.37	38.37	38.37	38.37	38.37	38.37	38.37	38.37	38.37
No. of Shareholders	51,909	56,044	59,207	56,164	59,419	72,334	71,870	78,750	94,439

Corporate Actions

Showing: All

Date	Type	Details	Ex-Date	Record Date
2026-08-26	AGM
2026-07-23	Board Meeting	Quarterly Results
2026-04-29	Ex Dividend	Rs.50.0000 per share(500%)Dividend	2026-09-09	2026-09-09

Insider Trading

Date	Person	Category	Transaction Type	Shares	Value (₹)
2026-05-08	Mukesh Mangalbhai Patel	Market	Buy	130

Sector Overview

Automobile & AncillariesAutomobiles-Trucks/Lcv

Force Motors Ltd. operates in the Automobile & Ancillaries sector under the Automobiles-Trucks/Lcv industry. This sector is one of the key drivers of the Indian economy and is closely tracked by the relevant Nifty sectoral index.

Company Profile

Corporate information and contact details

Key Management

10 members across the board and senior leadership

Rohan Sampat

Company Secretary & Compliance Officer

—

Abhaykumar Navalmal Firodia

Chairman

—

Prasan Abhaykumar Firodia

Managing Director

₹43.17 Cr

Mar '26

Vallabh Bhanshali