FORCE Motors

FORCEMOT

Auto

₹17705.00

price as of 11/9/2026, 5:28:13 pm

Market cap ₹23,329 Cr

P/E: 18.63
Day range: ₹17,630.00 – ₹18,048.00
52-week range: ₹14,911.00 – ₹26,450.00
Volume: 65,120
Open: ₹18,000.00
Prev close: ₹18,175.00

52-week range, adjusted for splits and bonuses

₹14,911

₹26,450

10 Oct 202518 Feb 2026

Index membership & F&O

NIFTY 500NIFTY SMALLCAP 250F&O lot 25

Price history

6M change -18.28%RSI (14) 48.4 NeutralSMA 20 · 50 overlaid

Price & delivery on the exchange

NSE bhavcopy to 11 Sept 2026 · delivery 37.8% today vs 29.3% average · BSE close ₹17,705

Delivery
NSE close
BSE close

High delivery with a rising price suggests buyers holding rather than trading the move.

Futures & options

NSE F&O close, 11 Sept 2026 · options expiring 29 Sept 2026

Short build-up

Near-month future: ₹17,706
Change: -2.91%
Basis over spot: +₹1.00
Futures OI (shares): 2.4 L
OI change: +1.18%
Put-call ratio: 0.44
Max pain: ₹17,500
Resistance (call OI): ₹19,000
Support (put OI): ₹17,000
Lot size: 25

Open interest by strike

Calls open above (resistance) and puts below (support), in shares

Call OI
Put OI

Futures open interest and price

Near-month future, day by day since collection began

The daily history builds from each close.

Key metrics

P/E (TTM): 19.6
EPS (TTM): ₹950.10
Price / Book: 5.45
ROE (FY26): 33.5%
ROCE (latest year): 36%
Dividend yield: 0.29%
Net margin (TTM): 13.6%
Current ratio: 1.87
Debt / Equity: 0.00
Revenue growth (5y): 35.4%

Moving averages (NSE)

Simple moving averages of the NSE price, and where the last price sits against each
5-day	10-day	20-day	50-day	100-day	300-day
₹17,610.8Price above	₹17,549.7Price above	₹17,849Price below	₹18,011.72Price below	₹18,692.97Price below	₹19,508.93Price below

Charts & trends

From company filings. Amounts in ₹ crore.

Revenue 3Y CAGR

+21.7%

Profit 3Y CAGR

+108.4%

Revenue YoY (Jun 2026)

+6.2%

Profit YoY (Jun 2026)

+23.3%

Operating margin

13.0%

Net margin

8.9%

Revenue, profit & margin - quarterly

Bars in ₹ crore (a loss shows red); line is operating margin

Revenue
Net profit
Operating margin

Who owns the company

Shareholding as of Jun 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); line is debt-to-equity

Equity
Debt
Debt / equity

Financial statements

₹ Crore

Quarterly results, oldest period first, figures in rupees crore
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 11 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.

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 62.4% 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: +18%
5 Years: +62%
3 Years: +209%
TTM: +82%

Stock Price CAGR

10 Years: +19%
5 Years: +66%
3 Years: +69%
1 Year: -2%

Return on Equity

10 Years: +10%
5 Years: +13%
3 Years: +19%
Last Year: +26%

Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.

Shareholding pattern

Percentage of shares held by each category at each quarter end
Holder	Sept 2025	Dec 2025	Mar 2026	Jun 2026	Change
Promoter	61.63%	61.63%	61.63%	61.63%	0.00 pp
FII	10.27%	10.46%	10.93%	9.51%	-1.42 pp
DII	1.48%	1.80%	1.75%	1.46%	-0.29 pp
Public	26.63%	26.12%	25.69%	27.39%	+1.70 pp

Filed with NSE for Jun 2026: promoters 61.63%, public 38.37% · XBRL filing

Analysts & fund holdings

Valuation vs Automobiles

P/E18.6 vs 27.6

Sector P/B5.69

Beta1.42

Who holds the shares, quarter by quarter

Mutual funds 0.79% (-0.19 pp)

Mar 25

Jun 25

Sept 25

Dec 25

Mar 26

Jun 26

Promoters61.6%
Foreign institutions9.5%
Mutual funds0.8%
Insurance0.1%
Other domestic institutions0.6%
Retail20.5%
Others6.9%

Mutual funds holding the most
Fund	% of company	% of fund	3-month change
PGIM India Midcap Fund	0.27%	0.58%	+0.58 pp
Sundaram Aggressive Hybrid Fund	0.27%	0.69%	+0.69 pp
Sundaram Flexi Cap Fund	0.16%	1.93%	-0.21 pp
Sundaram Value Fund	0.15%	2.71%	-0.26 pp
Mirae Asset Arbitrage Fund	0.14%	0.90%	+0.90 pp

Scorecard

Performance: Avg
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.

Corporate actions

dividend
₹50.00
Dividend - Rs 50 Per Share
9 Sept 2026
ex-date
dividend
₹40.00
Dividend - Rs 40 Per Share
10 Sept 2025
ex-date
dividend
₹20.00
Dividend - Rs 20 Per Share
28 Aug 2024
ex-date
other
Not available — not reported in this filing
Annual General Meeting
28 Aug 2024
ex-date
dividend
₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
21 Sept 2023
ex-date
dividend
₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
20 Sept 2022
ex-date
dividend
₹5.00
Annual General Meeting/Dividend - Rs 5 Per Share
20 Sept 2021
ex-date
dividend
₹10.00
Annual General Meeting/Dividend - Rs 10 Per Sh
21 Sept 2020
ex-date
dividend
₹10.00
Annual General Meeting/Dividend - Rs 10 Per Share
12 Sept 2019
ex-date