Force Motors Limited

BSE: FORCEMOT500033ISIN INE451A01017

Consumer Discretionary
Passenger Cars & Utility Vehicles
BSE 500

BSE listing

Share price

₹17,669.40-3.60 (-0.02%)

as of 18 Sep 2026

52W high: ₹26,485.95
52W low: ₹14,911.45
Off 52W high: -33.29%
1M return: -1.51%
3M return: -5.38%
6M return: -18.18%
1Y return: -6.77%
20D avg volume: 5,484
50 DMA: ₹17,876.56
200 DMA: ₹19,560.43

Key ratios Consolidated

Market cap: ₹23,028 Cr
Current price: ₹17,669.40
52W high / low: ₹26,485.95 / ₹14,911.45
Face value: ₹10.00
P/E: 18.60
P/B: —
EPS (TTM): ₹950.18
Book value / share: —
ROE: —
ROCE: 33.80%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-830.42 Cr
Interest cover: 465.91
Dividend yield: 0.28%
Dividend / share (TTM): ₹50.00
Payout: 5.26%
Cash conversion cycle: 16.5 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	2,440	2,550	2,129	2,081	2,297	2,356	1,889	1,941	1,885	2,011	1,692	1,802
	38.10	33.85	27.06	24.49	25.06	18.13	14.89	8.57	14.97	14.60	3.97	9.06
	2,190	2,210	1,827	1,790	2,036	2,106	1,732	1,733	1,714	1,815	1,550	1,660
	1,749	1,677	1,491	1,553	1,707	1,631	1,506	1,399	1,424	1,460	1,274	1,399
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	195.12	181.49	167.45	170.92	166.45	191.50	131.49	129.76	139.14	160.31	129.39	124.08
	0.04	2.74	0.16	0.23	0.13	7.26	4.12	5.43	9.06	14.29	14.11	15.84
	77.40	72.03	72.72	70.95	70.29	71.88	70.51	68.56	69.29	68.05	68.28	66.96
	158.45	159.22	105.37	104.03	114.28	118.11	134.35	128.08	135.36	144.39	131.73	118.87
	288.45	373.42	328.19	316.08	286.67	268.23	171.96	217.20	185.78	210.90	146.07	151.22
	0.00	0.00	211.24	0.00	0.00	394.57	0.00	0.00	0.00	0.00	0.00	0.00
	288.45	373.42	539.43	316.08	286.67	662.80	171.96	217.20	185.78	210.90	146.07	151.22
	76.70	99.66	136.47	-33.52	101.35	233.07	61.81	76.43	66.09	74.09	51.23	52.88
	216.59	278.54	406.15	350.70	176.36	434.74	115.34	135.05	115.73	140.29	85.44	93.89
	164.36	211.37	308.22	266.14	133.82	329.92	87.52	102.46	87.81	106.45	64.82	71.23
Key metrics
	365.89	448.19	612.31	387.26	357.09	741.94	246.59	291.19	264.13	293.24	228.46	234.02
	15.00%	17.60%	28.80%	18.60%	15.50%	31.50%	13.10%	15.00%	14.00%	14.60%	13.50%	13.00%
	8.90%	10.90%	19.10%	16.80%	7.70%	18.50%	6.10%	7.00%	6.10%	7.00%	5.10%	5.20%
	—	8.40%	—	8.30%	—	19.70%	—	—	—	—	—	—
	6.20%	8.20%	12.70%	7.20%	21.90%	17.10%	11.70%	7.80%	—	—	—	—
	22.80%	-35.90%	252.10%	159.70%	52.40%	209.90%	35.00%	43.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	9,200	9,057	8,072	6,992	5,029	3,240	1,988	3,081	3,652	3,531
	123.50	110.46	56.56	39.10	62.03	51.88	24.89	42.77	81.62	61.13
	8,017	7,863	7,285	6,412	5,008	3,405	2,177	3,034	3,540	3,392
	6,470	6,427	5,959	5,232	3,928	2,581	1,520	2,140	2,815	2,609
	0.00	0.00	0.00	—	—	—	—	—	—	—
	714.98	686.31	591.89	533.34	422.44	368.08	351.15	406.58	418.13	386.55
	3.17	3.26	25.87	62.14	68.40	41.04	28.22	27.85	15.33	6.67
	293.10	285.99	280.24	266.75	240.74	190.94	173.67	194.52	150.92	—
	527.07	482.90	440.01	508.00	415.45	268.78	263.19	318.16	308.95	312.13
	1,306	1,304	843.17	618.90	82.70	-112.97	-163.90	89.28	194.15	200.58
	211.24	211.24	394.57	0.00	208.32	0.00	0.00	-39.06	0.00	0.00
	1,517	1,516	1,238	618.90	291.02	-112.97	-163.90	50.22	194.15	200.58
	279.31	303.96	437.40	216.86	138.68	38.65	52.31	8.26	46.72	53.37
	1,252	1,212	800.86	388.21	133.74	-90.99	-123.54	50.27	143.42	147.21
	950.09	919.56	607.71	294.54	101.43	-69.13	-93.83	38.08	108.85	—
Key metrics
	1,814	1,805	1,544	947.79	600.16	119.01	37.99	272.59	360.40	207.25
	19.71%	19.90%	19.10%	13.60%	11.90%	3.70%	1.90%	8.80%	9.90%	5.90%
	13.61%	13.40%	9.90%	5.60%	2.70%	-2.80%	-6.20%	1.60%	3.90%	4.20%
	—	33.80%	37.10%	—	—	—	—	—	—	—
	—	12.20%	15.40%	39.00%	55.20%	63.00%	-35.50%	-15.70%	3.40%	—
	—	51.30%	106.30%	190.30%	247.00%	26.30%	-345.80%	-64.90%	-2.60%	—
	—	757.47	604.57	—	—	—	—	—	—	—
	—	1.07	1.21	—	—	—	—	—	—	—
	—	0.00	0.01	—	—	—	—	—	—	—
	—	-830.42	-489.12	—	—	—	—	—	—	—
	—	16.5	26.0	—	—	—	—	—	—	—
Balance sheet
	—	6,538	5,134	—	—	—	—	—	—	—
	—	3,832	2,580	—	—	—	—	—	—	—
	—	830.42	506.55	—	—	—	—	—	—	—
	—	191.15	174.34	—	—	—	—	—	—	—
	—	1,258	1,184	—	—	—	—	—	—	—
	—	103.50	122.72	—	—	—	—	—	—	—
	—	1,473	1,524	—	—	—	—	—	—	—
	—	1,040	783.59	—	—	—	—	—	—	—
	—	2,044	1,725	—	—	—	—	—	—	—
	—	0.00	17.43	—	—	—	—	—	—	—
	—	0.00	16.09	—	—	—	—	—	—	—
	—	0.00	1.34	—	—	—	—	—	—	—
	—	4,197	3,036	—	—	—	—	—	—	—
Cash flow
	—	1,297	971.47	—	—	—	—	—	—	—
	—	-899.84	-351.23	—	—	—	—	—	—	—
	—	-73.40	-561.84	—	—	—	—	—	—	—
	—	539.62	366.90	—	—	—	—	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	2,440	2,550	2,128	2,081	2,297	2,356	1,889	1,941	1,885	2,011	1,692	1,802
	38.06	33.85	27.06	24.49	25.06	18.13	14.89	8.57	14.97	14.60	3.97	9.06
	2,189	2,210	1,827	1,790	2,036	2,106	1,732	1,733	1,714	1,815	1,550	1,660
	1,749	1,677	1,491	1,553	1,707	1,631	1,506	1,399	1,424	1,460	1,274	1,399
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	195.12	181.49	167.45	170.92	166.45	191.50	131.49	129.76	139.14	160.32	129.39	124.08
	0.04	2.74	0.16	0.23	0.13	7.26	4.12	5.43	9.06	14.29	14.11	15.84
	76.85	72.03	72.72	70.95	70.29	71.88	70.51	68.56	69.29	68.05	68.28	66.96
	158.44	159.22	105.37	104.03	114.28	118.11	134.35	128.08	135.36	144.38	131.73	118.87
	288.85	373.30	328.06	315.95	286.54	268.11	171.83	217.07	185.66	210.77	145.94	151.11
	0.00	0.00	211.24	0.00	0.00	394.57	—	—	—	—	—	—
	288.85	373.30	539.30	315.95	286.54	662.68	171.83	217.07	185.66	210.77	145.94	151.11
	76.78	99.63	136.44	33.56	101.32	233.04	61.77	76.39	66.07	74.06	51.20	52.85
	212.07	273.67	402.86	349.51	185.22	429.64	110.06	140.68	119.59	136.71	94.74	98.26
	160.95	207.70	305.75	265.26	140.57	326.07	83.53	106.77	90.76	103.76	71.91	74.57
Key metrics
	365.74	448.07	612.18	387.13	356.96	741.82	246.46	291.06	264.01	293.11	228.33	233.91
	15.00%	17.60%	28.80%	18.60%	15.50%	31.50%	13.00%	15.00%	14.00%	14.60%	13.50%	13.00%
	8.70%	10.70%	18.90%	16.80%	8.10%	18.20%	5.80%	7.20%	6.30%	6.80%	5.60%	5.50%
	—	8.20%	—	8.20%	—	19.30%	—	—	—	—	—	—
	6.20%	8.20%	12.70%	7.20%	21.90%	17.10%	11.70%	7.80%	—	—	—	—
	14.50%	-36.30%	266.00%	148.40%	54.90%	214.30%	16.20%	43.20%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	9,199	9,057	8,071	6,992	5,029	3,240	1,988	3,080	3,652	3,531
	123.46	110.46	56.56	39.10	62.03	51.88	24.89	42.77	81.62	61.13
	8,017	7,863	7,285	6,412	5,008	3,405	2,177	3,034	3,540	3,392
	6,470	6,427	5,959	5,232	3,928	2,581	1,520	2,140	2,815	2,609
	0.00	0.00	0.00	—	—	—	—	—	—	—
	714.98	686.31	591.89	533.35	422.44	368.08	351.15	406.58	418.13	386.55
	3.17	3.26	25.87	62.14	68.40	41.04	28.22	27.85	15.33	6.67
	292.55	285.99	280.24	266.75	240.74	190.94	173.67	194.52	150.92	129.26
	527.06	482.90	440.01	507.99	415.45	268.78	263.19	318.16	308.94	312.13
	1,306	1,304	842.67	618.42	82.31	-113.35	-164.27	88.89	193.81	200.23
	211.24	211.24	394.57	—	208.32	—	—	-39.06	—	—
	1,517	1,515	1,237	618.42	290.63	-113.35	-164.27	49.83	193.81	200.23
	346.41	303.83	437.27	216.74	138.58	38.75	52.41	8.36	46.63	53.28
	1,238	1,211	799.97	401.68	152.05	-74.60	-111.86	58.19	147.18	146.95
	939.66	919.28	607.13	304.86	115.40	-56.62	-84.90	—	111.70	0.00
Key metrics
	1,813	1,804	1,543	947.31	599.77	118.63	37.62	272.20	360.06	336.16
	19.71%	19.90%	19.10%	13.50%	11.90%	3.70%	1.90%	8.80%	9.90%	9.50%
	13.46%	13.40%	9.90%	5.70%	3.00%	-2.30%	-5.60%	1.90%	4.00%	4.20%
	—	33.30%	36.30%	—	—	—	—	—	—	—
	—	12.20%	15.40%	39.00%	55.20%	63.00%	-35.50%	-15.70%	3.40%	—
	—	51.40%	99.20%	164.20%	303.80%	33.30%	-292.20%	-60.50%	0.20%	—
	—	757.08	604.22	—	—	—	—	—	—	—
	—	1.07	1.21	—	—	—	—	—	—	—
	—	0.00	0.01	—	—	—	—	—	—	—
	—	-823.28	-482.37	—	—	—	—	—	—	—
	—	16.5	26.0	—	—	—	—	—	—	—
Balance sheet
	—	6,605	5,202	—	—	—	—	—	—	—
	—	3,824	2,573	—	—	—	—	—	—	—
	—	823.28	499.80	—	—	—	—	—	—	—
	—	191.15	174.34	—	—	—	—	—	—	—
	—	1,258	1,184	—	—	—	—	—	—	—
	—	103.50	122.72	—	—	—	—	—	—	—
	—	1,473	1,524	—	—	—	—	—	—	—
	—	1,040	783.59	—	—	—	—	—	—	—
	—	2,044	1,725	—	—	—	—	—	—	—
	—	0.00	17.43	—	—	—	—	—	—	—
	—	0.00	16.09	—	—	—	—	—	—	—
	—	0.00	1.34	—	—	—	—	—	—	—
	—	4,264	3,104	—	—	—	—	—	—	—
Cash flow
	—	1,297	971.12	—	—	—	—	—	—	—
	—	-899.84	-351.23	—	—	—	—	—	—	—
	—	-73.40	-561.84	—	—	—	—	—	—	—
	—	539.62	366.90	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +21.67%
Sales CAGR 5Y: +35.43%
Sales CAGR 10Y: —
Profit CAGR 3Y: +99.72%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +8.44%
Profit YoY (TTM): +43.03%

Consolidated

Sales CAGR 3Y: +21.67%
Sales CAGR 5Y: +35.43%
Sales CAGR 10Y: —
Profit CAGR 3Y: +108.47%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +8.44%
Profit YoY (TTM): +45.33%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 61.65%

Holder	Type	Holding	Previous	Change
Jaya Hind Industries Private Limited	Promoter	57.38%	—	—
Abhaykumar Navalmal Firodia	Promoter	2.01%	—	—
Prasan Abhaykumar Firodia	Promoter	1.68%	—	—
Manohar Devabhaktuni	Public	1.20%	—	—
Indira Abhaykumar Firodia	Promoter Group	0.49%	—	—
Kamala Bansilal Bhandari	Promoter Group	0.06%	—	—
Shyamala Navalakha	Promoter Group	0.02%	—	—
Sunanda Sudhir Mehta	Promoter Group	0.01%	—	—
Isravat Consulting Limited	Promoter Group	0.00%	—	—
Indaux India Pvt. Ltd.	Promoter Group	0.00%	—	—
Pinnacle Industries Limited	Promoter Group	0.00%	—	—
AAPF One Act Kinder Foundation	Promoter Group	0.00%	—	—
LMG Manufacturing GmbH	Promoter Group	0.00%	—	—
Harsha Jain	Promoter Group	0.00%	—	—
CB Services India Pvt. Ltd.	Promoter Group	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

ESG Rating18 Sep 2026 · Company Update / General
67th AGM- Scrutinizer Report along with voting results as per Regulation 44 of SEBI (LODR) 201518 Sep 2026 · AGM/EGM / AGM
Summary of the proceedings of the 67th AGM of Force Motors Limited held today i.e. Wednesday, 16th September, 2026.16 Sep 2026 · AGM/EGM / AGM
Sakes volume for the Month of August 2026.1 Sep 2026 · Company Update / Monthly Business Updates
Copy of Newspaper Publication of Notice of 67th AGM26 Aug 2026 · Company Update / Newspaper Publication
BRSR 2025-2625 Aug 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
AGM Intimation25 Aug 2026 · AGM/EGM / AGM
Annual Report for FY 2025-2625 Aug 2026 · Others / Reg. 34 (1) Annual Report
Dividend Updates.25 Aug 2026 · Corp Action / Dividend Updates
Date of payment of Dividend for FY 2025-26.25 Aug 2026 · Corp Action / Date of payment of Dividend
Book Closure - 10-09-2026 to 16-09-2026 (both days inclusive)25 Aug 2026 · Corp. Action / Book Closure
Record Date-Dividend FY 2025-26-09-09-202625 Aug 2026 · Corp. Action / Record Date
Shareholder Meeting - AGM on 16-09-202625 Aug 2026 · AGM/EGM / AGM
Communication to Shareholders holding shares in Physical mode - Furnishing of PAN and other KYC details25 Aug 2026 · Company Update / General
Newspaper advertisement regarding the Notice of Special Window for Transfer and Dematerialisation of Physical Securities.24 Aug 2026 · Company Update / Newspaper Publication
Investor Presentation on the Standalone and Consolidated financial performance of the Company for the quarter ended on 30th June, 2026.7 Aug 2026 · Company Update / Investor Presentation
Monthly Sales data for July, 20263 Aug 2026 · Company Update / Monthly Business Updates
Newspaper Publication of Un-audited Standalone and Consolidated financial results of the Company for the quarter ended on 30.06.202630 Jul 2026 · Company Update / Newspaper Publication
Outcome of Board Meeting-Cessation of Senior Management Officials of the Company w.e.f. 29.07.2026.29 Jul 2026 · Company Update / Cessation
Outcome of Board Meeting- change in management- changes in Senior Management Officials of the Company w.e.f. 29.07.2026.29 Jul 2026 · Company Update / Change in Management
Outcome of Board Meeting- Change in Directors- Re-appointment of three Independent Directors of the Company for a second term of 5 years.29 Jul 2026 · Company Update / Change in Directorate
Outcome of Board Meeting- brief details for alteration in Object Clause of MoA of the Company.29 Jul 2026 · Company Update / Amendments to Memorandum & Articles of Association
Outcome of Board Meeting- Results for the quarter ended on 30th June, 2026.29 Jul 2026 · Board Meeting / Outcome of Board Meeting
Results-Financial Results for the quarter ended on 30th June, 2026.29 Jul 2026 · Result / Financial Results
Intimation of Closure of Trading Window22 Jul 2026 · Insider Trading / SAST / Closure of Trading Window
Force Motors Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/07/2026 ,inter alia, to consider and approve Unaudited (Standalone and Consolidated) ....22 Jul 2026 · Board Meeting / Board Meeting
Notice to shareholders regarding Transfer of Shares to IEPF through letter and newspaper publication21 Jul 2026 · Company Update / General
Notice to shareholders regarding reminder for Transfer of Shares to IEPF through reminder letter and newspaper publication21 Jul 2026 · Company Update / Newspaper Publication
Notice to shareholders regarding reminder for Transfer of Shares to IEPF through reminder letter and newspaper publication.21 Jul 2026 · Company Update / Newspaper Publication
Cessation of Mr. Amit Pramod Joshi as Senior Management Personnel of the Company17 Jul 2026 · Company Update / Change in Management
Compliance Certificate under Reg 74 (5) of SEBI (DP) Regulations, 201813 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Monthly Business update for the Month of June, 2026 by Force Motors Limited.1 Jul 2026 · Company Update / Monthly Business Updates
Investor Presentation on financial performance of the Company for quarter ended on 31.03.202626 Jun 2026 · Company Update / Investor Presentation
Newspaper advertisement regarding the Notice of Special Window for transfer and Dematerialisation of physical securities .26 Jun 2026 · Company Update / Newspaper Publication
Intimation for closure of trading window.25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Cessation of Mr. Manoj Patil as Senior Management Personnel of the Company1 Jun 2026 · Company Update / Change in Management
Resignation of Senior Management Personnel1 Jun 2026 · Company Update / Cessation
Monthly Business Update for the month of May, 2026 by Force Motors Limited.1 Jun 2026 · Company Update / Monthly Business Updates
Annual Secretarial Compliance Report for the Financial Year ended on 31st March, 202627 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Submission of monthly sales data for the month of April, 20265 May 2026 · Company Update / Monthly Business Updates

Corporate actions

Purpose	Ex date	Record date	Payment date
Dividend - Rs. - 50.0000	9 Sep 2026	9 Sep 2026	—
Dividend - Rs. - 40.0000	10 Sep 2025	10 Sep 2025	—
Final Dividend - Rs. - 20.0000	28 Aug 2024	28 Aug 2024	—

Board meetings

29 Jul 2026 Board Meeting - Financial Results