FORCE MOTORS LTD Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 29.2%)
- Efficient capital deployment (ROCE 36%)
- Attractively valued vs sector (P/E 19.6x vs industry 38.9x)
- Virtually debt-free
- Near 52-week low — potential value zone (₹16,109)
Concerns
Today's Price Action
The stock closed at ₹17,094 with flat intraday movement. Trading volume matched the 20‑day average at 79,299 shares, indicating a balanced participation level. This level of activity suggests that neither buyers nor sellers dominate, and the order flow remains evenly distributed across price levels.
Valuation Snapshot
The trailing P/E stands at 19.6, while the sector median P/E is not disclosed (0), making a direct relative assessment unavailable. Such a ROE, coupled with a modest price multiple, often reflects efficient capital utilization and a competitive advantage in its niche segments.
Key Levels to Watch
The current price sits just above the 52‑week low of ₹16,109 and remains a sizeable distance from the 52‑week high of ₹26,486. Open‑interest clusters around the nearest round‑number support at ₹16,500 and resistance near ₹18,000, as observed in recent derivatives data.
Chart Pattern
A bullish harami formed on the daily chart three sessions ago, comprising a small real body engulfed by the preceding larger red candle. The formation appeared on the daily timeframe, confirming that the price action is evaluated at the horizon.
Data Summary
Force Motors Ltd trades at a market‑capitalisation‑free price, with a P/B ratio of zero and a P/E of 19.6. The share’s volume aligns with its recent average, and the stock exhibits a ROE of 29.2 % within the automobile and auto‑components sector, the fiscal year ending March 2026.
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| M&M Mahindra & Mahindra Limited | ₹2,870 | ₹3.6L Cr | 18.6 | 3.83 | 20.3 | 15.1 | 1.53 |
| MARUTI Maruti Suzuki India Limited | ₹11,579 | ₹3.5L Cr | 24.6 | 3.4 | 14.3 | 18.9 | 0 |
| BAJAJ-AUTO Bajaj Auto Limited | ₹10,485 | ₹2.8L Cr | 23.5 | 7.55 | 29.2 | 28.2 | 0.58 |
| EICHERMOT Eicher Motors Limited | ₹7,300 | ₹1.9L Cr | 33.4 | 7.98 | 24 | 30.5 | 0.02 |
| TVSMOTOR TVS Motor Company Limited | ₹4,240 | ₹1.9L Cr | 54.7 | 21.09 | 33.6 | 17.4 | 3.89 |
| MOTHERSON Samvardhana Motherson International Limited | ₹160 | ₹1.6L Cr | 35.4 | 4.13 | 11.2 | 13.4 | 0.53 |
| HYUNDAI Hyundai Motor India Limited | ₹1,867 | ₹1.5L Cr | 30.4 | 7.59 | 29.9 | 38.4 | 0.05 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
FORCEMOT · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 61.63% | 61.63% | 61.63% | 61.63% | 61.63% | 61.63% |
| FII | 4.91% | 6.34% | 7.78% | 7.89% | 8.15% | 8.36% |
| DII | 1.20% | 0.86% | 1.02% | 0.92% | 0.90% | 1.43% |
| Public | 32.27% | 31.16% | 29.57% | 29.56% | 29.30% | 28.58% |
Corporate Events
To consider and approve the financial results for the period ended September 30, 2026
Board Meeting intimation to consider other business matter related to consideration and approval of the proposal of removal of restriction on transferability and other incidental conditions of 27,600 "A" Equity Shares and 1,15,748 Second A equity shares
Dividend - Rs 50 Per Share
To consider and approve the financial results for the period ended Jun 30, 2026
To consider and approve the financial results for the period ended March 31, 2026 and dividend
Dividend - Rs 40 Per Share
Annual General Meeting
Dividend - Rs 20 Per Share
Annual General Meeting/Dividend - Rs 10 Per Share
Latest News
All newsFinancials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2.1K Cr 2.3% | ₹2.1K Cr 9.4% | ₹2.3K Cr 2.5% | ₹2.4K Cr 24.7% | ₹1.9K Cr 2.7% | ₹1.9K Cr 3.0% | ₹1.9K Cr 6.3% | ₹2.0K Cr |
| Op. Profit | ₹374 Cr 3.0% | ₹363 Cr 12.4% | ₹323 Cr 1.8% | ₹329 Cr 41.8% | ₹232 Cr 16.2% | ₹277 Cr 13.1% | ₹245 Cr 12.2% | ₹279 Cr |
| OPM | 18.0% 5.9% | 17.0% 21.4% | 14.0% 0.0% | 14.0% 16.7% | 12.0% 14.3% | 14.0% 7.7% | 13.0% 7.1% | 14.0% |
| Net Profit | ₹406 Cr 15.7% | ₹351 Cr 99.4% | ₹176 Cr 59.5% | ₹435 Cr 278.3% | ₹115 Cr 14.8% | ₹135 Cr 16.4% | ₹116 Cr 17.1% | ₹140 Cr |
| EPS (₹) | 308.21 15.8% | 266.14 98.9% | 133.82 59.4% | 329.92 277.0% | 87.51 14.6% | 102.47 16.7% | 87.81 17.5% | 106.45 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹9.1K Cr 12.2% | ₹8.1K Cr 15.4% | ₹7.0K Cr 39.0% | ₹5.0K Cr 55.2% | ₹3.2K Cr 63.0% | ₹2.0K Cr 35.5% | ₹3.1K Cr 15.6% | ₹3.7K Cr 6.7% | ₹3.4K Cr 11.5% | ₹3.1K Cr |
| Expenses | ₹7.6K Cr 8.6% | ₹7.0K Cr 14.4% | ₹6.1K Cr 29.3% | ₹4.7K Cr 47.8% | ₹3.2K Cr 62.4% | ₹2.0K Cr 30.4% | ₹2.8K Cr 16.5% | ₹3.4K Cr 7.1% | ₹3.2K Cr 12.6% | ₹2.8K Cr |
| Op. Profit | ₹1.5K Cr 35.0% | ₹1.1K Cr 22.5% | ₹897 Cr 186.6% | ₹313 Cr 526.0% | ₹50 Cr 108.3% | ₹24 Cr 90.8% | ₹261 Cr 5.1% | ₹275 Cr 2.6% | ₹268 Cr 0.0% | ₹268 Cr |
| OPM | 16.0% 14.3% | 14.0% 7.7% | 13.0% 116.7% | 6.0% 275.0% | 1.6% 33.3% | 1.2% 85.0% | 8.0% 0.0% | 8.0% 0.0% | 8.0% 11.1% | 9.0% |
| Other Income | ₹321 Cr 28.0% | ₹446 Cr 1105.4% | ₹37 Cr 86.2% | ₹268 Cr 415.4% | ₹52 Cr 2500.0% | ₹2 Cr 33.3% | ₹3 Cr 96.3% | ₹82 Cr 18.8% | ₹69 Cr 19.8% | ₹86 Cr |
| Interest | ₹3 Cr 88.5% | ₹26 Cr 58.1% | ₹62 Cr 8.8% | ₹68 Cr 65.9% | ₹41 Cr 46.4% | ₹28 Cr 0.0% | ₹28 Cr 86.7% | ₹15 Cr 114.3% | ₹7 Cr 16.7% | ₹6 Cr |
| Depreciation | ₹286 Cr 2.1% | ₹280 Cr 4.9% | ₹267 Cr 10.8% | ₹241 Cr 26.2% | ₹191 Cr 9.8% | ₹174 Cr 10.8% | ₹195 Cr 29.1% | ₹151 Cr 17.1% | ₹129 Cr 14.2% | ₹113 Cr |
| PBT | ₹1.5K Cr 22.5% | ₹1.2K Cr 104.6% | ₹605 Cr 122.4% | ₹272 Cr 309.2% | ₹-130 Cr 26.1% | ₹-176 Cr 519.0% | ₹42 Cr 77.9% | ₹190 Cr 5.5% | ₹201 Cr 14.5% | ₹235 Cr |
| Tax % | 20.0% 42.9% | 35.0% 2.8% | 36.0% 29.4% | 51.0% 270.0% | -30.0% 0.0% | -30.0% 50.0% | -20.0% 180.0% | 25.0% 7.4% | 27.0% 17.4% | 23.0% |
| Net Profit | ₹1.2K Cr 51.3% | ₹801 Cr 106.4% | ₹388 Cr 189.6% | ₹134 Cr 247.3% | ₹-91 Cr 26.6% | ₹-124 Cr 348.0% | ₹50 Cr 65.0% | ₹143 Cr 2.7% | ₹147 Cr 18.3% | ₹180 Cr |
| EPS (₹) | 919.55 51.3% | 607.71 106.3% | 294.54 190.4% | 101.42 246.7% | -69.12 26.3% | -93.83 346.4% | 38.08 65.0% | 108.78 2.6% | 111.66 18.3% | 136.68 |
| Div Payout | 5.0% 28.6% | 7.0% 0.0% | 7.0% 30.0% | 10.0% 171.4% | -14.0% 180.0% | -5.0% 119.2% | 26.0% 188.9% | 9.0% 0.0% | 9.0% 28.6% | 7.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
Liabilities | ||||||||||
| Equity Capital | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr 0.0% | ₹13 Cr |
| Reserves | ₹3.5K Cr 15.7% | ₹3.0K Cr 34.7% | ₹2.2K Cr 20.4% | ₹1.9K Cr 7.3% | ₹1.7K Cr 4.9% | ₹1.8K Cr 6.5% | ₹2.0K Cr 1.7% | ₹1.9K Cr 7.4% | ₹1.8K Cr 8.1% | ₹1.7K Cr |
| Borrowings | ₹0 Cr 100.0% | ₹17 Cr 96.8% | ₹524 Cr 45.1% | ₹955 Cr 10.7% | ₹1.1K Cr 66.5% | ₹642 Cr 107.1% | ₹310 Cr 8.4% | ₹286 Cr | ₹0 Cr 100.0% | ₹199 Cr |
| Other Liabilities | ₹1.8K Cr 11.9% | ₹2.1K Cr 27.4% | ₹1.6K Cr 38.1% | ₹1.2K Cr 40.3% | ₹844 Cr 11.5% | ₹757 Cr 8.0% | ₹823 Cr 33.4% | ₹617 Cr 14.5% | ₹722 Cr 2.2% | ₹738 Cr |
| Total Liabilities | ₹5.3K Cr 4.1% | ₹5.1K Cr 16.3% | ₹4.4K Cr 10.0% | ₹4.0K Cr 9.6% | ₹3.7K Cr 13.1% | ₹3.2K Cr 4.5% | ₹3.1K Cr 9.2% | ₹2.8K Cr 12.4% | ₹2.5K Cr 3.1% | ₹2.6K Cr |
Assets | ||||||||||
| Fixed Assets | ₹2.1K Cr 7.4% | ₹2.0K Cr 3.1% | ₹2.0K Cr 3.0% | ₹2.1K Cr 3.0% | ₹2.0K Cr 66.1% | ₹1.2K Cr 12.6% | ₹1.4K Cr 15.1% | ₹1.2K Cr 28.3% | ₹948 Cr 4.1% | ₹911 Cr |
| CWIP | ₹190 Cr 33.8% | ₹287 Cr 67.8% | ₹171 Cr 11.0% | ₹154 Cr 49.0% | ₹302 Cr 58.3% | ₹725 Cr 62.9% | ₹445 Cr 19.6% | ₹372 Cr 0.8% | ₹369 Cr 67.7% | ₹220 Cr |
| Investments | ₹95 Cr 7.8% | ₹103 Cr 13.2% | ₹91 Cr 6.2% | ₹97 Cr 12.6% | ₹111 Cr 11.0% | ₹100 Cr 28.2% | ₹78 Cr 239.1% | ₹23 Cr 130.0% | ₹10 Cr 11.1% | ₹9 Cr |
| Other Assets | ₹2.9K Cr 6.0% | ₹2.8K Cr 30.8% | ₹2.1K Cr 27.2% | ₹1.7K Cr 37.3% | ₹1.2K Cr 2.2% | ₹1.2K Cr 1.2% | ₹1.2K Cr 4.1% | ₹1.2K Cr 2.4% | ₹1.2K Cr 18.3% | ₹1.5K Cr |
| Total Assets | ₹5.3K Cr 4.1% | ₹5.1K Cr 16.3% | ₹4.4K Cr 10.0% | ₹4.0K Cr 9.6% | ₹3.7K Cr 13.1% | ₹3.2K Cr 4.5% | ₹3.1K Cr 9.2% | ₹2.8K Cr 12.4% | ₹2.5K Cr 3.1% | ₹2.6K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹1.5K Cr 52.5% | ₹1.0K Cr 90.6% | ₹532 Cr 2855.6% | ₹18 Cr 157.1% | ₹7 Cr 98.3% | ₹409 Cr 30.3% | ₹314 Cr 22.7% | ₹256 Cr 45.6% | ₹471 Cr 84.0% | ₹256 Cr |
| Investing CF | ₹-926 Cr 367.7% | ₹-198 Cr 22.7% | ₹-256 Cr 28.1% | ₹-356 Cr 6.9% | ₹-333 Cr 1.8% | ₹-327 Cr 46.0% | ₹-606 Cr 648.1% | ₹-81 Cr 87.0% | ₹-621 Cr 195.7% | ₹-210 Cr |
| Financing CF | ₹-562 Cr 10.4% | ₹-509 Cr 145.9% | ₹-207 Cr 155.2% | ₹375 Cr 28.0% | ₹293 Cr 1565.0% | ₹-20 Cr 107.8% | ₹256 Cr 214.8% | ₹-223 Cr 223.9% | ₹180 Cr 586.5% | ₹-37 Cr |
| Net Cash Flow | ₹58 Cr 81.2% | ₹308 Cr 352.9% | ₹68 Cr 83.8% | ₹37 Cr 215.6% | ₹-32 Cr 151.6% | ₹62 Cr 277.1% | ₹-35 Cr 25.5% | ₹-47 Cr 256.7% | ₹30 Cr 233.3% | ₹9 Cr |
| Free Cash Flow | ₹1.2K Cr 45.8% | ₹810 Cr 195.6% | ₹274 Cr 187.0% | ₹-315 Cr 29.2% | ₹-445 Cr 808.2% | ₹-49 Cr 73.2% | ₹-183 Cr 195.2% | ₹-62 Cr 126.3% | ₹236 Cr 1142.1% | ₹19 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 8d 60.0% | 5d 64.3% | 14d 33.3% | 21d 8.7% | 23d 15.0% | 20d 17.6% | 17d 34.6% | 26d 85.7% | 14d 22.2% | 18d |
| Inventory Days | 73d 12.0% | 83d 7.8% | 77d 13.5% | 89d 34.6% | 136d 49.5% | 91d 37.9% | 66d 2.9% | 68d 6.8% | 73d 20.7% | 92d |
| Days Payable | 48d 21.3% | 61d 11.6% | 69d 4.2% | 72d 33.3% | 108d 13.7% | 95d 82.7% | 52d 35.8% | 81d 1.3% | 80d 14.3% | 70d |
| Cash Conv. Cycle | 32d 18.5% | 27d 22.7% | 22d 42.1% | 38d 26.9% | 52d 246.7% | 15d 51.6% | 31d 138.5% | 13d 116.7% | 6d 85.0% | 40d |
| Working Capital Days | 16d 900.0% | -2d 66.7% | -6d 83.8% | -37d 640.0% | -5d 183.3% | 6d 86.0% | 43d 0.0% | 43d 43.3% | 30d 30.4% | 23d |
| ROCE | 30.0% 25.0% | 24.0% 380.0% | 5.0% 266.7% | -3.0% 40.0% | -5.0% 200.0% | 5.0% 50.0% | 10.0% 9.1% | 11.0% 21.4% | 14.0% 22.2% | 18.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About FORCE MOTORS LTD
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]
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