Force Motors Ltd (FORCEMOT)
₹17,620.00
Mkt cap
₹23,217 Cr
P/E ratio
22.00
P/B
5.54
Div yield
0.23%
ROE
29.20%
ROCE
36.10%
EPS (TTM)
₹800.91
Book value
₹3,183
52W range
15,303–25,776
Sector
Consumer Discretionary
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]
Health check
Constructive
ValuationCheap
ProfitabilityStrong
GrowthModerate
TechnicalsBearish
52-week range
−31.64% from high₹17,620
₹15,303+15.14% from low₹25,776
Current
₹17,620.00
Prev close
₹17,614.00
Day
+0.03%
Price performance
1D
+0.03%
1W
−1.62%
1M
−4.19%
3M
−13.40%
6M
−15.17%
1Y
+4.62%
YTD
−17.00%
Financials
FRevenue, profit & margin
P/E ratio
22.0×
FORCEMOT is 24% below the sector median of 29.0×
FORCEMOT22.0×
Sector median29.0×
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Trend | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,490 | 1,488 | 1,802 | 1,692 | 2,011 | 1,885 | 1,941 | 1,889 | 2,356 | 2,297 | 2,081 | 2,129 | 2,550 | |
| Expenses | 1,372 | 1,310 | 1,581 | 1,477 | 1,733 | 1,640 | 1,664 | 1,658 | 2,027 | 1,974 | 1,719 | 1,755 | 2,136 | |
| Operating Profit | 118 | 177 | 221 | 215 | 279 | 245 | 277 | 232 | 329 | 323 | 363 | 374 | 414 | |
| OPM % | 8% | 12% | 12% | 13% | 14% | 13% | 14% | 12% | 14% | 14% | 17% | 18% | 16% | |
| Other Income | 246 | 11 | 9 | 4 | 18 | 15 | 9 | 20 | 418 | 25 | 26 | 241 | 39 | |
| Interest | 18 | 18 | 16 | 14 | 14 | 9 | 5 | 4 | 7 | 0 | 0 | 0 | 3 | |
| Depreciation | 63 | 63 | 67 | 68 | 68 | 69 | 69 | 71 | 72 | 70 | 71 | 73 | 72 | |
| Profit before tax | 284 | 107 | 147 | 137 | 214 | 182 | 211 | 177 | 668 | 278 | 317 | 543 | 378 | |
| Tax % | 48% | 36% | 36% | 37% | 35% | 36% | 36% | 35% | 35% | 36% | -11% | 25% | 26% | |
| Net Profit | 147 | 69 | 94 | 85 | 140 | 116 | 135 | 115 | 435 | 176 | 351 | 406 | 279 | |
| EPS in Rs | 111.25 | 52.06 | 71.24 | 64.81 | 106.45 | 87.81 | 102.47 | 87.51 | 329.92 | 133.82 | 266.14 | 308.21 | 211.38 | |
| Raw PDF |
Earnings
EResults dates & reactionsNext results
29 Jul '26
Fresh quarters land in the Financials table above, tagged NSE until screener catches up.
Avg earnings-day move +2.94% · closed higher next day 4 of last 9
| Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | |
|---|---|---|---|---|---|---|---|---|---|
| Broadcast | 26 Apr '24◦ | 30 Jul '24◦ | 29 Oct '24◦ | 10 Feb '25◦ | 25 Apr '25◦ | 23 Jul '25◦ | 7 Nov '25◦ | 4 Feb '26◦ | 29 Apr '26◦ |
| Earnings day | −1.01% | −2.55% | +20.00% | +0.03% | −1.62% | +11.72% | −0.09% | +5.09% | −5.15% |
| +1 day | −0.96% | −3.22% | +23.16% | +6.24% | −1.48% | +4.26% | −3.51% | +6.58% | −7.88% |
| +5 days | −4.29% | −11.69% | +18.47% | +4.52% | +8.95% | −1.14% | −3.41% | +18.79% | −0.51% |
| +15 days | −9.53% | −8.74% | +9.01% | +18.10% | +14.57% | +14.78% | +0.20% | +26.85% | −5.28% |
| +30 days | −6.20% | −25.37% | +6.07% | +39.60% | +33.52% | −0.64% | +0.93% | +7.55% | −11.65% |
| Filing | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL | XBRL |
Corporate actions
CLast 6 monthsNo recent corporate actions
Dividends, splits, and bonuses in the last six months show up here.
Shareholding
Sas of Jun 202661.63%Promoter
Promoters61.63%
FIIs9.51%1.42
DIIs1.46%0.29
Public27.39%1.70
Ownership trend
Peers
P7 companiesValuation vs quality
P/E × ROCE · bubble = market cap| Name | CMP | P/E | Mkt Cap | Div Yld | NP Qtr | Qtr Profit Var | Sales Qtr | Qtr Sales Var | ROCE |
|---|---|---|---|---|---|---|---|---|---|
| Maruti Suzuki | ₹13,442.00 | 28.79 | 4,22,620 | 1.04% | 3,659 | −6.45% | 52,463 | +28.21% | 19.02% |
| M & M | ₹3,161.40 | 22.73 | 3,93,129 | 1.04% | 5,260 | +48.85% | 54,982 | +29.07% | 15.10% |
| Hyundai Motor I | ₹1,952.60 | 29.21 | 1,58,657 | 1.08% | 1,256 | −22.22% | 18,916 | +5.44% | 38.42% |
| Tata Motors PVeh | ₹323.80 | 1.38 | 1,19,242 | 0.93% | 5,878 | −24.63% | 1,05,447 | +7.19% | 2.73% |
| Force Motors | ₹17,620.00 | 21.97 | 23,217 | 0.23% | 279 | +56.59% | 2,550 | +8.23% | 36.08% |
| Olectra Greentec | ₹1,336.30 | 61.80 | 10,968 | 0.03% | 57 | +164.38% | 645 | +43.62% | 21.05% |
| Mercury EV-Tech | ₹35.11 | 159.57 | 667 | 0.00% | 0 | −80.65% | 20 | −34.13% | 2.64% |
| Median: 8 Co. | ₹1,644.45 | 29.00 | 71,229 | 0.58% | 767 | +21.20% | 10,733 | +8.23% | 19.65% |
Filings
DAnnual reports15
Financial Year 2025bseFinancial Year 2024bseFinancial Year 2023bseFinancial Year 2022bseFinancial Year 2021bseFinancial Year 2020bseFinancial Year 2019bseFinancial Year 2018bseFinancial Year 2017bseFinancial Year 2016bseFinancial Year 2015bseFinancial Year 2014bseFinancial Year 2013bseFinancial Year 2012bseFinancial Year 2011bse
Concall transcripts4
Credit ratings6
Announcements5
Board Meeting Intimation for Considering And Approving Quarterly Unaudited Standalone And Consolidated Financial Results For The Quarter Ended On 30Th June, 2026 2d - Board meets 29 July 2026 to consider Q1 FY2027 results; trading window closed until 31 July.Closure of Trading Window 2d - Board to meet on 29 July 2026 for Q1 FY27 results; trading window closed until 31 July 2026.Announcement Under Regulation 30 (LODR)- Update 21 Jul - Force Motors dispatched IEPF transfer notices; claim unclaimed dividends by 30 Sept 2026, transfer due 22 Oct 2026.Announcement under Regulation 30 (LODR)-Newspaper Publication 21 Jul - Notice to shareholders regarding reminder for Transfer of Shares to IEPF through reminder letter and newspaper publicationAnnouncement under Regulation 30 (LODR)-Change in Management 17 Jul - Force Motors AVP Amit Pramod Joshi resigned effective 17 July 2026 for personal reasons.