Force Motors Limited
₹17,370.00+₹511.00 (+3.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹26,491 Cr
- P/E
- 32.4x
- EV / EBITDA
- 28.1x
- Revenue
- ₹8,071 Cr
- Net margin
- 5.7%
- ROCE
- 31.9%
Price chart
Technical chartScreen technicals →+1.5% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- +1.7%
- 3M
- -1.4%
- 6M
- -12.7%
- 1Y
- +1.5%
- 5Y
- +1,102.3%
52-week range
Day change +₹511.00 (+3.0%) from ₹16,859 to ₹17,370 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in FORCEMOT, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 17.8%
Concerns0
Rule-based from financial data. Not advice.
About the company
Force Motors Limited, an integrated automobile company, designs, develops, manufactures, and sells a range of automotive components, aggregates, and vehicles in India.
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Force Motors Limited, an integrated automobile company, designs, develops, manufactures, and sells a range of automotive components, aggregates, and vehicles in India. The company provides passenger vehicles, ambulances, school buses, and delivery van; small commercial, light commercial, multi utility vehicles, special vehicles, and spare parts; special utility vehicles, which include off-roaders/recreation vehicles and military vehicles; and agricultural tractors. Its product portfolio consists of urbania, a ground-up modular monocoque van platform for shared urban mobility; traveller, a platform that caters to passenger transport, cargo delivery, ambulances, and school buses; monobus; trax, a rugged utility vehicle platform for rural and last mile transport; special application vehicles; gurkha off-road vehicle; and electric vehicles. In addition, the company offers shared mobility solutions, commercial fleets, specialized transport, and defense solutions. It exports its products to various countries in the Middle East, Asia, Latin America, and Africa. The company was incorporated in 1958 and is based in Pune, India. Force Motors Limited operates as a subsidiary of Jaya Hind Industries Pvt. Ltd.
- Sector
- Automobiles & Components
- Shares outstanding
- 1.3 Cr shares
- ISIN
- INE451A01017
- BSE code
- 500033
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹26,491 Cr
- P/E
- 32.4x
- P/B
- 7.4x
- EV / EBITDA
- 28.1x
- EV / Sales
- 3.8x
- P/S
- 3.8x
- Earnings yield
- 3.1%
- 52-week high
- ₹25,807.85
- 52-week low
- ₹16,284.40
Profitability
- Operating margin
- 13.0%
- Net margin
- 5.7%
- EBITDA margin
- 13.5%
- ROE
- 17.3%
- ROCE
- 31.9%
- ROA
- 9.0%
- Dividend payout
- 7.0%
- Tax rate
- 35.0%
- Other income, % of PBT
- 6.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹8,071 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 15.4%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 17.8%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹947 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 58.1%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 99.0%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 47.3%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,011 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 90.4%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹58.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 10.2%
Solvency and efficiency
- Current ratio
- 1.40
- Debt / Equity
- 0.23
- Debt / Assets
- 0.12
- Debt / EBITDA
- 0.55
- Interest coverage
- 14.68
- Financial leverage
- 1.93
- CFO / Net profit
- 2.51
- Cash / Market cap
- 8.0%
- Cash per share
- ₹1,604.35
- Asset turnover
- 1.56
- Fixed asset turnover
- 3.44
- Capital intensity
- 0.29
- Debtor days
- 5 days
- Inventory turnover
- 4.40
- Cash conversion cycle
- 27 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹10 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹6,973 Cr |
| Sales | Operating profit | ₹1,098 Cr |
| Operating profit | Interest | ₹26 Cr |
| Operating profit | Depreciation | ₹280 Cr |
| Operating profit | Profit before tax | ₹792 Cr |
| Other income | Profit before tax | ₹445 Cr |
| Profit before tax | Tax and other | ₹437 Cr |
| Profit before tax | Net profit | ₹800 Cr |
Revenue and net profit
Revenue grew 15.4% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹1,988 Cr | -₹112 Cr |
| FY2022 | ₹3,240 Cr | -₹75 Cr |
| FY2023 | ₹5,029 Cr | ₹152 Cr |
| FY2024 | ₹6,992 Cr | ₹402 Cr |
| FY2025 | ₹8,071 Cr | ₹800 Cr |
Cash flows
FY2025: ₹971 Cr from operations, ₹620 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹7 Cr | -₹326 Cr |
| FY2022 | ₹18 Cr | -₹338 Cr |
| FY2023 | ₹531 Cr | ₹275 Cr |
| FY2024 | ₹1,011 Cr | ₹813 Cr |
| FY2025 | ₹971 Cr | ₹620 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹8,071 Cr+15.4%1Y
- Net profit
- ₹800 Cr+99.0%1Y
- Cash from operations
- ₹971 Cr
- Free cash flow
- ₹620 Cr-23.7%1Y
- Revenue CAGR, 5Y
- 17.8%
- EBITDA CAGR, 5Y
- 28.3%
- Net profit CAGR, 5Y
- 47.3%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹8,071 Cr | ₹1,098 Cr | — | ₹800 Cr | ₹971 Cr | ₹620 Cr | 25.8% | +15.4% | +99.0% |
Monthly returns
Month-by-month returns of FORCEMOT across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹5,202 Cr |
| Equity capital | ₹13 Cr |
| Reserves | ₹3,090 Cr |
| Borrowings | ₹17 Cr |
| Other liabilities | ₹2,081 Cr |
| Assets | ₹5,202 Cr |
| Fixed assets | ₹1,969 Cr |
| Capital work in progress | ₹287 Cr |
| Investments | ₹178 Cr |
| Other assets | ₹2,768 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
FORCEMOT trades at 32.4x earnings against a peer median of 34.8x.
Not shown (no positive earnings and no EV / Sales): Ather Energy Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Force Motors LimitedFORCEMOTthis company | ₹26,491 Cr | 32.4x | 7.4x | 17.3% | 28.1x |
| Motherson Sumi Wiring India LimitedMSUMI | ₹30,320 Cr | 49.4x | 16.4x | 38.0% | 29.5x |
| Exide Industries Ltd.EXIDEIND | ₹29,410 Cr | 28.3x | 1.9x | 8.0% | 14.7x |
| Sona BLW Precision Forgings LimitedSONACOMS | ₹28,406 Cr | 47.9x | 5.1x | 18.8% | 33.3x |
| ZF Commercial Vehicle Control Systems India LimitedZFCVINDIA | ₹26,851 Cr | 56.3x | 7.9x | 14.5% | 40.0x |
| Aegis Logistics Ltd.AEGISLOG | ₹25,428 Cr | 48.2x | 9.2x | 17.3% | 45.8x |
| Ather Energy LimitedATHERENERG | ₹24,950 Cr | — | 9.1x | -194.5% | -30.6x |
| Asahi India Glass Ltd.ASAHIINDIA | ₹24,510 Cr | 88.6x | 6.4x | 13.9% | 34.7x |
| Tenneco Clean Air India LimitedTENNIND | ₹21,568 Cr | 18.4x | — | 72.8% | 53.1x |
| Peer median | — | 34.8x | 5.2x | 16.1% | 21.0x |
Year-to-date ROI
FORCEMOT since 1 January, against earlier years.
Historical volatility
FORCEMOT's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 2.0% |
| FY2022 | 2.0% |
| FY2023 | 7.0% |
| FY2024 | 13.0% |
| FY2025 | 14.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹8,071 Cr |
| Costs | |
| Interest | ₹26 Cr |
| Expenses | ₹6,973 Cr |
| Operating profitOperating Profit | ₹1,098 Cr |
| Other income and charges | |
| Profit before tax | ₹1,237 Cr |
| Tax | |
| Net profitNet Profit | ₹800 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹5,202 Cr |
| Equity capitalEquity Capital | ₹13 Cr |
| Reserves | ₹3,090 Cr |
| Borrowings | ₹17 Cr |
| Other liabilitiesOther Liabilities | ₹2,081 Cr |
| AssetsTotal Assets | ₹5,202 Cr |
| Fixed assetsFixed Assets | ₹1,969 Cr |
| Capital work in progressCWIP | ₹287 Cr |
| Investments | ₹178 Cr |
| Other assetsOther Assets | ₹2,768 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹971 Cr |
| Investing cash flowCash from Investing Activity | -₹351 Cr |
| Financing cash flowCash from Financing Activity | -₹562 Cr |
| Change in cashNet Cash Flow | ₹58 Cr |
Learn while you research
Academy chapters picked for Force Motors Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 32.4, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Sectors & IndustriesHow to classify and compare companies across sectors.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read