FORCE Motors
Market cap ₹21,609 Cr
- P/E
- 17.26
- Day range
- ₹16,184.00 – ₹16,890.00
- 52-week range
- ₹16,109.00 – ₹26,450.00
- Volume
- 68,731
- Open
- ₹16,770.00
- Prev close
- ₹16,768.00
Latest results · Q1 FY27(consolidated)Revenue ₹2,440 Cr+6.2%Profit ₹217 Cr+22.8%Margin 8.9%YoY vs the same quarter last year
No red flags in exchange filings: no rising pledge, promoter selling, surveillance or critical filing on record.
FORCEMOT in NSE indices and F&O
F&O margin for one lot of FORCEMOT (25 shares)Research profile
Composite 50 / 100Factor percentiles
Derived metrics
- Earn. yield
- 5.8%
- Graham no.
- ₹7,644.23
- vs Graham
- -53.4%
- ROE ÷ P/B
- 6.4%
- 12-1 mom.
- +4.0%
- Return / vol
- -0.03
- Magic Formula
- #25
- Piotroski
- 4/6
- FCF yield
- 3.5%
Appears in 14 scans
Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.
Peer comparison
All 50 in Auto| Company | M-cap | P/E | P/B | ROE | ROCE | OPM | D/E | Sales YoY |
|---|---|---|---|---|---|---|---|---|
| Maruti SuzukiMARUTI | ₹3.53 L Cr | 24.63 | 3.30 | 14.4% | 19.0% | 8.0% | 0.00 | +35.9% |
| Mahindra & MahindraM&M | ₹3.44 L Cr | 17.42 | 3.82 | 21.9% | 15.0% | 19.0% | 1.47 | +27.8% |
| Bajaj AutoBAJAJ-AUTO | ₹2.77 L Cr | 23.95 | 7.31 | 28.6% | 28.0% | 21.0% | 0.58 | +65.1% |
| Eicher MotorsEICHERMOT | ₹1.94 L Cr | 33.62 | 7.74 | 23.8% | 31.0% | 24.0% | 0.02 | +31.5% |
| TVS MotorTVSMOTOR | ₹1.89 L Cr | 55.17 | 19.80 | 35.3% | 17.0% | 14.0% | 3.43 | +33.5% |
| Motherson SumiMOTHERSON | ₹1.61 L Cr | 37.17 | 3.92 | 10.8% | 13.0% | 9.0% | 0.47 | +16.7% |
| Hyundai Motor IndiaHYUNDAI | ₹1.50 L Cr | 30.36 | 7.71 | 29.9% | 38.0% | 9.0% | 0.05 | -0.5% |
| FORCE MotorsFORCEMOT | ₹21,609 Cr | 17.26 | 5.27 | 33.5% | 36.0% | 13.0% | 0.00 | +6.2% |
| Sector median | ₹24,286 Cr | 30.36 | 5.70 | 16.7% | 18.0% | 13.0% | 0.24 | +22.0% |
Sector as classified in the tracked universe; medians use every tracked Auto company, and P/E only profitable ones. Tinted figures beat the median.
Latest news
Updated 25d agoHeadlines about FORCE Motors from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.
Key metrics
- P/E (TTM)
- 19.6
- Price / Book
- 5.15
- ROE (FY26)
- 33.5%
- ROCE (latest year)
- 36%
- Dividend yield
- 0.30%
Moving averages (NSE)
- 20-day
- ₹17,052.45
- Price below
- 50-day
- ₹17,462.84
- Price below
- 200-day
- ₹19,483.67
- Price below
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
₹ crore; a loss shows red. Operating margin below, same periods.
- Revenue
- Net profit
Operating margin
Who owns the company
% of equity by quarter, latest Sept 2026
- Promoter
- Public
- FII
- DII
Cash flows
Where cash came from and went, by fiscal year (₹ crore)
- Operating
- Investing
- Financing
- Free cash flow
Return on equity
Net profit over shareholders' equity, by fiscal year
Equity vs debt
Shareholders' equity against borrowings (₹ crore); the ratio below, same years.
- Equity
- Debt
Debt to equity
Dividends per share
₹ by fiscal year of the ex-date; the latest year runs to date.
Financial statements
| Line item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,802 | 1,692 | 2,011 | 1,885 | 1,941 | 1,889 | 2,356 | 2,297 | 2,081 | 2,129 | 2,550 | 2,440 |
| Expenses | 1,581 | 1,477 | 1,733 | 1,640 | 1,664 | 1,658 | 2,027 | 1,974 | 1,719 | 1,755 | 2,136 | 2,112 |
| Operating Profit | 221 | 215 | 279 | 245 | 277 | 232 | 329 | 323 | 363 | 374 | 414 | 328 |
| OPM % | 12% | 13% | 14% | 13% | 14% | 12% | 14% | 14% | 17% | 18% | 16% | 13% |
| Other Income | 9 | 4 | 18 | 15 | 9 | 20 | 418 | 25 | 26 | 241 | 39 | 43 |
| Interest | 16 | 14 | 14 | 9 | 5 | 4 | 7 | 0 | 0 | 0 | 3 | 0 |
| Depreciation | 67 | 68 | 68 | 69 | 69 | 71 | 72 | 70 | 71 | 73 | 72 | 77 |
| Profit before tax | 147 | 137 | 214 | 182 | 211 | 177 | 668 | 278 | 317 | 543 | 378 | 293 |
| Tax % | 36% | 37% | 35% | 36% | 36% | 35% | 35% | 36% | -11% | 25% | 26% | 26% |
| Net Profit | 94 | 85 | 140 | 116 | 135 | 115 | 435 | 176 | 351 | 406 | 279 | 217 |
| EPS in Rs | ₹71.24 | ₹64.81 | ₹106.45 | ₹87.81 | ₹102.47 | ₹87.51 | ₹329.92 | ₹133.82 | ₹266.14 | ₹308.21 | ₹211.38 | ₹164.36 |
From company filings, updated 26 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.
Working-capital cycle
-15 days since Mar 2021
-64 days since Mar 2021
-49 days since Mar 2021
-32 days since Mar 2021
+44 days since Mar 2021
Strengths, risks & growth
Force Motors Ltd was established in 1958, is the flagship company of the Abhay Firodia group. The company is in the business of manufacturing fully vertically integrated small and light CVs, multi-utility vehicles, and agricultural tractors, which it supplies to various countries in the Middle East, Asia, Latin America, and Africa. It was known as Bajaj Tempo till 2005 [1]
Strengths
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 65.5% CAGR over last 5 years
Risks
None flagged by the checklist.
Compounded Sales Growth
- 10 Years
- +12%
- 5 Years
- +35%
- 3 Years
- +22%
- TTM
- +8%
Compounded Profit Growth
- 10 Years
- +19%
- 5 Years
- +65%
- 3 Years
- +221%
- TTM
- +82%
Stock Price CAGR
- 10 Years
- +14%
- 5 Years
- +62%
- 3 Years
- +67%
- 1 Year
- 0%
Return on Equity
- 10 Years
- +11%
- 5 Years
- +16%
- 3 Years
- +24%
- Last Year
- +29%
Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.
Shareholding pattern
| Holder | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 61.63% | 61.63% | 61.63% | 61.63% | 0.00 pp |
| FII | 10.46% | 10.93% | 9.51% | 7.10% | -2.41 pp |
| DII | 1.80% | 1.75% | 1.46% | 2.48% | +1.02 pp |
| Public | 26.12% | 25.69% | 27.39% | 28.78% | +1.39 pp |
Filed with NSE for Sept 2026: promoters 61.63%, public 38.37% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 1.72% (+0.93 pp)- Promoters61.6%
- Foreign institutions7.1%
- Mutual funds1.7%
- Insurance0.1%
- Other domestic institutions0.7%
- Retail21.9%
- Others6.9%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| Sundaram Aggressive Hybrid Fund | 0.42% | 1.08% | +1.08 pp |
| PGIM India Midcap Fund | 0.28% | 0.60% | +0.60 pp |
| Sundaram Flexi Cap Fund | 0.17% | 2.00% | -0.01 pp |
| Sundaram Value Fund | 0.16% | 2.77% | -0.05 pp |
| Sundaram Multi Asset Allocation Fund | 0.15% | 1.02% | +1.02 pp |
Scorecard
- Performance
- High
- Valuation
- High
- Growth
- Avg
- Profitability
- High
- Entry point
- Avg
- Red flags
- Low
Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.
Risk & trend
From 275 daily sessions to 23 Oct 2026.
Risk
- Volatility (1Y)
- 44.0%
- Downside volatility
- 42.4%
- Worst 5% of days
- 5.0%
- Average of that tail
- 5.9%
- Max drawdown (1Y)
- 36.4%
- Below its peak
- 36.4%
Against the market
- Beta vs Nifty 50
- 1.78
- Correlation
- 0.54
- Relative strength (3M)
- -0.5%
- ATR (14)
- 3.0%
Return
- Return 1M
- -5.1%
- Return 3M
- -5.8%
- Return 6M
- -24.7%
- Return 1Y
- -1.3%
- vs 200-day average
- -15.8%
Momentum
- RSI (14)
- 37.4
- MACD histogram
- -25.01
- Stochastic %K
- 12.2
- ADX (14)
- 14.2
- +DI / −DI
- 15.8 / 25.4
- Money flow index
- 56.0
Participation
- Delivery (20d avg)
- 34.9%
- vs its 60-day baseline
- -1.2 pts
- Volume vs 20-day
- +0.5σ
- Close vs day's VWAP
- -0.2%
- 52-week position
- 10 / 100
These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.
Financial quality
From consolidated statements to 31 Mar 2026.
Piotroski F-Score
4 of 6 tested
- Return on assets positive — passed
- Operating cash flow positive — not testableno cash flow statement for this period
- Return on assets improving — failed
- Cash flow exceeds profit — not testableneeds cash flow and profit against assets
- Debt to assets falling — passed
- Current ratio improving — passed
- No new equity issued — not testableno share count is collected, and financing cash flow mixes equity with debt
- Operating margin improving — passed
- Asset turnover improving — failed
- Free cash flow
- ₹757 Cr
- FCF yield
- 3.5%
- Cash conversion
- 1.07
- Accruals ratio
- -0.013
- Net debt
- -₹830 Cr
- Net debt / equity
- -0.20
- EV / sales
- 2.26
- Capex intensity
- 6.0%
- Revenue CAGR
- 8.2%
- Profit CAGR
- -35.9%
Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.
Corporate actions
- dividend₹50.00
Dividend - Rs 50 Per Share
9 Sept 2026ex-date - dividend₹40.00
Dividend - Rs 40 Per Share
10 Sept 2025ex-date - otherNot available — not reported in this filing
Annual General Meeting
28 Aug 2024ex-date - dividend₹20.00
Dividend - Rs 20 Per Share
28 Aug 2024ex-date - dividend₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
21 Sept 2023ex-date - dividend₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
20 Sept 2022ex-date - dividend₹5.00
Annual General Meeting/Dividend - Rs 5 Per Share
20 Sept 2021ex-date - dividend₹10.00
Annual General Meeting/Dividend - Rs 10 Per Sh
21 Sept 2020ex-date - dividend₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
12 Sept 2019ex-date
Company announcements
Publication of Newspaper advertisements regarding the Notice of Special Window for Transfer and Dematerialisation of Physical Securities.
Update on Closure of Trading Window.
Force Motors Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/10/2026 ,inter alia, to consider and approve Unaudited Standalone and Consolidated ....
Intimation of Credit Rating
Certificate under Reg 74 (5) of SEBI (DP) Regulations, 2018
Copy of Newspaper Publication of Notice of 02/2026-27 EGM for 'Second A' Equity shareholders of the Company.
Copy of Newspaper Publication regarding Notice of 01/2026-27 EGM for 'A' Equity shareholders
02/2026-27 EGM of "Second A" Equity Shareholders of the Company.
Notice of 01/2026-27 EGM of "A" Equity Shareholders of the Company.
Intimation of date of EGM and related information for Second A Equity Shareholders
EGM for "A" Equity Shareholders of Force Motors Limited
Monthly Business Updates for the month of September, 2026 by Force Motors Limited.
Closure of Trading Window.
Removal of restrictions of transferability and other incidental conditions of 27,600 "A" Equity Shares (held by shareholders in physical mode) and 1,15,748 'Second A' Equity Shares (held ....
Force Motors Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 25/09/2026 ,inter alia, to consider and approve proposal of removal of restriction ....
Filed with BSE (scrip 500033); the last 45 days. Documents open at bseindia.com.
Documents
Annual reports
Earnings calls
- Aug 2026Slides
- Jun 2026Slides
- Feb 2026Slides
- Nov 2025Slides
- Sep 2025Transcript
Credit ratings
- Rating update · 19 Oct from crisil
- Rating update · 25 Jul 2025 from crisil
- Rating update · 26 Jul 2024 from crisil
- Rating update · 22 Dec 2023 from crisil
- Rating update · 6 Feb 2023 from crisil
- Rating update · 24 Jan 2023 from crisil
Documents open at BSE or the rating agency that issued them.
Sourced from the company's NSE XBRL filing dated 30 Jul 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.
FORCE Motors: common questions
Answered from the figures on this page.
