FORCE MOTORS LTD FORCEMOT
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Real prices, every charge counted. Pick one or write your own.Force Motors is controlled by the Firodia family through Jaya Hind Industries. It began in 1958 as Bajaj Tempo, a joint venture with the Bajaj family that ended when Bajaj exited in 2014. Alongside its own Traveller vans and Gurkha defence vehicles, Force runs a contract manufacturing business supplying localised engines and axles for every Mercedes-Benz vehicle assembled in India, a partnership dating to 1997 that passed 200,000 engines produced in 2026.
Automobiles
Makes the Traveller range of vans and minibuses used for passenger transport, ambulances and school buses, the Trax utility vehicle, the Gurkha cross country and defence vehicle, and Balwan tractors, alongside contract manufacturing of engines and axles for Mercedes-Benz passenger cars and SUVs built in India.
Traveller and Trax buyers include fleet, ambulance and school transport operators across India; Force holds an estimated 70%+ share of the narrower 9 to 25 seater van and minibus niche, where its main rival is the Tata Winger, though within the broader LCV passenger carrier category tracked by SIAM it runs closer to 37%, roughly level with Tata Motors. The Indian Army buys Gurkha and light strike vehicles, and Mercedes-Benz India sources engines and axles for all its India assembled vehicles from Force's Chakan plant.
Earns revenue from selling its own branded commercial, utility and defence vehicles, plus a separate contract manufacturing stream in which it builds engines and axles to Mercedes-Benz specifications for a fee, a business distinct from and less visible than its own vehicle sales.
Technical snapshotHow the share has been behaving: its momentum, its trend, how much of the trading was real buying to keep, and its returns.
EOD 13 NovThe share of traded quantity that was actually delivered (not squared off intraday) - high delivery vs its 20-session average suggests real buying or holding, not just churn.
Are its options cheap or dear?It compares the movement option prices assume with the movement the share has actually shown.
Live in market hoursImplied volatility needs the live option chain, which is open 9:15 to 3:30.
Returns and valuationWhat the market pays for this company and how well the business uses its money.
Books to 30 Sept 2026Against its sectorWhere this company ranks among similar companies on each measure.
Passenger Cars & Utility Vehicles · 5 peers · mediansWhat the numbers sayShort plain statements about this company's latest figures.
Written by fixed rulesLatest quarterIn the quarter to September 2026 (results filed 28 Oct 2026), sales rose 40.5% from a year earlier to Rs 2,925 cr and profit fell 16.2% to Rs 294 cr.
- Return on equity stayed above 15% from FY24 to FY26 (lowest 17.2%).
- No borrowings at the FY26 balance sheet.
- Cash from operations was at least the reported profit in each of FY24, FY25, FY26.
Each line is written by a fixed rule from the company's own filings and share price, and names the figures it uses. It describes what happened; it is not advice about the share.
How the share moved on resultsWhat the share price did around each recent quarterly result.
Over the last 11 results, the share rose on 6 and fell on 5, and moved by 3% or more on 7.
Q2 FY27: results filed 28 Oct 2026. The share went from its close on 27 Oct 2026 to its close on 29 Oct 2026 -2.99%.
Dividends paidCash the company has paid per share, year by year.
2026 has paid ₹50.00 per share, about ₹255 on ₹1 lakh at today's price. Dividends are at the company's discretion and can be cut or skipped.
What it has returnedThe yearly growth rate in the share price over each period, as if it had grown smoothly.
Price only, before dividendsHeld for 5 years this compounded at +64.9% a year. The last twelve months were up +14.6%. Price only, before dividends.
Who owns itThe share of the company held by its promoters, by foreign and domestic institutions, and by the public, quarter by quarter.
Shareholding patternEach line is that holder's share of all shares over the last 6 quarters, drawn to its own scale - the printed change is the size of the move. Mutual funds and insurers sit inside the domestic figure; hover the bar above for that split.
The promoter/promoter-group stake as a percentage of total shares, each quarter since listing. A rising line means promoters are adding to their stake; a falling one often means dilution, pledge-driven sales, or stake sales to new investors.
Recent announcementsThe company's own filings to the exchange in the last six months: results, board meetings, investor calls and more, each with its source document.
Last 6 monthsAt a glanceThe eight figures most people check first, each placed against companies in the same industry.
Against its sectorPeers are the listed companies in the exchange's own industry group: Passenger Cars & Utility Vehicles. Balance-sheet figures are from the latest filed balance sheet; trends show each financial year we hold.
The business, year by yearSales and net profit by financial year or by quarter.
Sales and net profitWhere every ₹100 of sales goesHow each ₹100 the company sold was spent, and how much stayed as profit.
FY26In FY26, of every ₹100 of sales it kept ₹13.4 as profit. Other income added ₹1.2.
How fast it has grownCompound growth a year in sales and profit, over 3 and 5 financial years, beside the latest quarter.
Compounded a yearWhere the cash wentProfit is an accounting figure. Cash flow shows the money that really moved: in from the business, out on investments, and to or from lenders and shareholders.
From the cash flow statementIn FY26 cash rose by ₹324 Cr, after ₹540 Cr spent on plant and equipment.
Health check, year by yearMargins, returns and debt for each financial year, so you can see the direction.
| Measure | FY25 | FY26 |
|---|---|---|
| Operating marginOf every ₹100 of sales, the profit from the main business before depreciation, interest and tax. | 13.5% | 16.4% |
| Net marginOf every ₹100 of sales in the year, how much was left as profit after everything. | 9.9% | 13.4% |
| ROEHow much profit the company made on the shareholders' money in the business. 15% means ₹15 of profit a year on every ₹100 of owners' money. | 30.3% | 33.5% |
| ROCEHow much operating profit the company made on all the money in the business, whether it came from owners or lenders. | 43.3% | 41.9% |
| Debt to equityBorrowings compared with the shareholders' money. 1 means the company owes as much as its owners have put in; 0 means no borrowings. | 0.01x | 0.00x |
| Interest coverHow many times the company's profit before interest could pay its interest bill. | 48.8x | 460x |
Each row against this company's own usual level: green better, red worse, grey close to it.
Peers side by sideCompanies in the same exchange-defined industry group, largest first. Tap a heading to sort.
Passenger Cars & Utility Vehicles| Company | What the whole company is worth on the stock market: share price times the number of shares. It measures size, not quality. | How many rupees investors pay today for one rupee of the company's yearly profit. A P/E of 20 means paying ₹20 for ₹1 of annual profit. | The share price against the shareholders' money per share on the balance sheet. It asks what you pay for each rupee the owners have in the business. | How much profit the company made on the shareholders' money in the business. 15% means ₹15 of profit a year on every ₹100 of owners' money. | How much operating profit the company made on all the money in the business, whether it came from owners or lenders. | Borrowings compared with the shareholders' money. 1 means the company owes as much as its owners have put in; 0 means no borrowings. | Of every ₹100 of sales, how much is left as profit after all costs, interest and tax. | How much sales grew in the latest quarter against the same quarter a year earlier. | The cash paid out in a year as a percentage of today's share price. A 2% yield means ₹2 a year on a ₹100 share. |
|---|---|---|---|---|---|---|---|---|---|
| M&M Mahindra & Mahindra Limited | 4.14 L cr | 19.2x | 4.2x | 18.8% | 14.6% | 1.29 | 9.6% | +24.8% | 0.99% |
| MARUTI Maruti Suzuki India Limited | 4.04 L cr | 30.0x | 3.7x | 14.4% | 18.8% | 0.00 | 6.5% | +26.0% | 1.09% |
| HYUNDAI Hyundai Motor India Limited | 1.69 L cr | 36.9x | 8.3x | 29.9% | 38.6% | 0.03 | 6.2% | +18.5% | 1.01% |
| TMPV Tata Motors Passenger Vehicles Limited | 1.06 L cr | - | 0.9x | 68.4% | 0.4% | 0.59 | - | -8.2% | 1.04% |
| FORCEMOT FORCE MOTORS LTD | 25,545 cr | 21.6x | 5.5x | 33.5% | 41.9% | 0.00 | 11.9% | +40.5% | 0.26% |
| OLECTRA Olectra Greentech Limited | 8,415 cr | 46.6x | 6.5x | 15.7% | 21.1% | 0.21 | 7.1% | +4.6% | 0.06% |
Swipe the table sideways for more columns. Tap a heading to sort. A dash means the figure is not filed or cannot be worked out for that company. A bigger cohort is cut to its 40 largest companies.
Month by monthThe share's price change in every calendar month, one row per year, so you can check for yourself whether a month has a pattern.
Price return each month| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -6.7 | +26.8 | -20.3 | +2.6 | -2.2 | -4.7 | -3.5 | -2.1 | -2.7 | +1.8 | +12.9 | · | -4.7% 11m |
| 2025 | -3.1 | +5.7 | +35.6 | -1.5 | +41.9 | +27.1 | +5.4 | +14.9 | -13.8 | +5.1 | +0.9 | +15.4 | +215.8% |
| 2024 | · | · | +7.3 | +31.4 | -8.3 | +2.6 | +3.1 | -9.9 | -10.2 | +5.1 | -12.3 | -5.5 | -3.5% 10m |
| 2023 | +4.5 | -16.6 | -3.6 | +15.2 | +33.2 | +52.8 | -6.7 | +34.6 | +11.7 | -12.5 | · | · | +141.9% 10m |
| 2022 | -3.5 | -15.0 | -0.8 | +17.8 | -11.5 | -3.7 | +1.6 | +25.3 | -4.4 | +9.3 | +14.7 | -11.2 | +10.8% |
| 2021 | -0.3 | -3.9 | -10.3 | -4.8 | +7.0 | +1.8 | +23.6 | -9.5 | +8.3 | -4.1 | -8.7 | -2.9 | -8.1% |
| 2020 | +16.2 | -15.1 | -31.4 | +18.5 | -3.3 | +11.1 | -5.0 | +21.7 | -2.1 | -2.8 | +13.0 | +17.2 | +25.5% |
| 2019 | · | · | · | · | · | · | · | · | -7.7 | -2.1 | -4.5 | +3.4 | -10.7% 4m |
Month-on-month change in closing price, adjusted for splits and bonuses but not for dividends, so a large dividend shows up here as a fall. Starts from 1995, when the exchange began trading equities, or from the stock's listing if later. This is a record of what happened, not a forecast.
Deals and filingsLarge trades reported to the exchange, plus the company's documents sorted by type.
| Date | Party | Side | Quantity | Price | Value |
|---|---|---|---|---|---|
| 2026-01-12 | SERUM INSTITUTE OF INDIA PRIVATE LIMITED · block | SELL | 38,740 | ₹19,790.00 | ₹76.67 Cr |
| 2026-01-12 | POONAWALLA AVIATION PRIVATE LIMITED · block | BUY | 38,740 | ₹19,790.00 | ₹76.67 Cr |
| 2025-09-19 | BNP PARIBAS FINANCIAL MARKETS · bulk | SELL | 65,610 | ₹18,581.10 | ₹121.91 Cr |
| 2025-07-25 | HRTI PRIVATE LIMITED · bulk | BUY | 71,664 | ₹17,657.36 | ₹126.54 Cr |
| 2025-07-25 | HRTI PRIVATE LIMITED · bulk | SELL | 67,021 | ₹17,745.79 | ₹118.93 Cr |
| 2025-07-24 | HRTI PRIVATE LIMITED · bulk | BUY | 88,858 | ₹19,336.34 | ₹171.82 Cr |
| 2025-07-24 | HRTI PRIVATE LIMITED · bulk | SELL | 71,623 | ₹19,417.04 | ₹139.07 Cr |
| 2025-05-02 | GRAVITON RESEARCH CAPITAL LLP · bulk | SELL | 93,307 | ₹9,814.06 | ₹91.57 Cr |
- Board outcomeOutcome of Board Meeting28 Oct 2026
FORCE MOTORS LTD has submitted to the Exchange, the financial results for the period ended September 30, 2026.
- Board outcomeOutcome of Board Meeting29 Jul 2026
FORCE MOTORS LTD has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
- Board outcomeOutcome of Board Meeting29 Apr 2026
FORCE MOTORS LTD has submitted to the Exchange, the financial results for the period ended March 31, 2026.
- Board outcomeOutcome of Board Meeting29 Apr 2026
FORCE MOTORS LTD has submitted to the Exchange, the financial results for the period ended March 31, 2026.
- Board outcomeOutcome of Board Meeting4 Feb 2026
FORCE MOTORS LTD has submitted to the Exchange, Unaudited Standalone and Consolidated financial results for the quarter and nine months ended on December 31, 2025.
- Board outcomeOutcome of Board Meeting7 Nov 2025
FORCE MOTORS LTD has submitted to the Exchange, the Unaudited Standalone and Consolidated financial results for the quarter and half year ended on September 30, 2025.
- Board outcomeOutcome of Board Meeting23 Jul 2025
FORCE MOTORS LTD has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
- Integrated Filing- Financial10 Feb 2025
Integrated filing of financials by Force Motors Limited for quarter ended on 31/12/2024
- Financial Result Updates10 Feb 2025
FORCE MOTORS LTD has submitted to the Exchange, the financial results for the period ended December 31, 2024.
The last two years of the company's filings to the exchange, grouped by the exchange's own categories. Each opens the original document.
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