FORCE MOTORS LIMITED (FORCEMOT) financials

FORCE MOTORS LIMITED (FORCEMOT) NSE/BSE financials on Fincrux: quarterly results, profit and loss, cash flow, balance sheet, ratios, and shareholding.

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]

Market Cap: ₹23,322Cr.
Current Price: ₹17,700
Stock P/E: 21.5
ROE: 25.6%
ROCE: 35.4%
Book Value: ₹3,236
Dividend Yield: 0.28%
52W High / Low: ₹26,486/16,109

In Jun 2026, FORCE MOTORS LIMITED (FORCEMOT) reported sales ₹2,440 Cr and net profit ₹212 Cr.

Annual TTM: sales ₹9,199 Cr, net profit ₹1,238 Cr.

Shareholding: Promoters 61.63% (Sep 2026), FIIs 7.10% (Sep 2026), DIIs 2.48% (Sep 2026), Public 28.78% (Sep 2026), No. of Shareholders 1,06,263% (Sep 2026).

FORCEMOT quarterly results (₹ Cr.)
Category	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,941	1,889	2,356	2,297	2,081	2,128	2,550	2,440
Expenses	1,659	1,658	2,027	1,965	1,719	1,755	2,136	2,112
Operating Profit	282	232	329	332	363	374	414	328
OPM %	15%	12%	14%	14%	17%	18%	16%	13%
Other Income	9	15	413	25	24	238	34	38
Interest	5	4	7	0	0	0	3	0
Depreciation	69	71	72	70	71	73	72	77
Profit before tax	217	172	663	287	316	539	373	289
Tax %	35%	36%	35%	35%	-11%	25%	27%	27%
Net Profit	141	110	430	185	350	403	274	212
EPS in Rs	106.77	83.53	326.07	140.57	265.26	305.75	207.70	160.95
Raw PDF	—	—	—	—	—	—	—	—

FORCEMOT profit and loss (₹ Cr.)
Category	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	3,080	1,988	3,240	5,029	6,992	8,071	9,057	9,199
Expenses	2,811	1,952	3,173	4,697	6,082	6,973	7,573	7,721
Operating Profit	269	36	67	331	910	1,098	1,483	1,478
OPM %	9%	1.8%	2.1%	7%	13%	14%	16%	16%
Other Income	3	2	52	268	37	445	321	335
Interest	28	28	41	68	62	26	3	3
Depreciation	195	174	191	241	267	280	286	293
Profit before tax	50	-164	-113	291	618	1,237	1,515	1,517
Tax %	-17%	-32%	-34%	48%	35%	35%	20%	—
Net Profit	58	-112	-75	152	402	800	1,211	1,238
EPS in Rs	44.16	-84.89	-56.62	115.40	304.86	607.13	919.27	939.66
Dividend Payout %	23%	-6%	-18%	9%	7%	7%	5%	—

FORCEMOT balance sheet (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	13	13	13	13	13	13	13	13
Reserves	1,922	1,963	1,847	1,774	1,919	2,313	3,090	4,251
Borrowings	286	310	642	1,069	955	524	17	0
Other Liabilities	615	821	755	842	1,182	1,633	2,081	2,341
Total Liabilities	2,836	3,107	3,258	3,698	4,069	4,483	5,202	6,605
Fixed Assets	1,216	1,400	1,224	2,033	2,094	2,031	1,969	1,921
CWIP	372	445	725	302	154	171	287	536
Investments	28	92	126	154	159	166	178	173
Other Assets	1,220	1,169	1,184	1,209	1,662	2,115	2,768	3,974
Total Assets	2,836	3,107	3,258	3,698	4,069	4,483	5,202	6,605

FORCEMOT cash flows (₹ Cr.)
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	312	409	7	18	531	1,011	1,546	1,297
Cash from Investing Activity	-606	-327	-333	-356	-256	-198	-926	-900
Cash from Financing Activity	256	-20	293	375	-207	-509	-562	-73
Net Cash Flow	-37	62	-32	37	68	304	58	323
Free Cash Flow	-185	-49	-445	-315	274	806	1,181	760
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	129%	158%	27%	23%	161%	128%	161%	116%

FORCEMOT shareholding pattern (%)
Category	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	61.63%	61.63%	61.63%	61.63%	61.63%	61.63%	61.63%	61.63%
FIIs	8.15%	8.36%	9.77%	10.27%	10.46%	10.93%	9.51%	7.10%
DIIs	0.90%	1.43%	1.66%	1.48%	1.80%	1.75%	1.46%	2.48%
Public	29.30%	28.58%	26.94%	26.63%	26.12%	25.69%	27.39%	28.78%
No. of Shareholders	59,207	56,164	59,419	72,334	71,870	78,750	94,439	1,06,263

FORCEMOT key ratios
Category	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	17	20	23	21	14	5	8	8
Inventory Days	66	91	136	89	77	83	73	72
Days Payable	52	95	108	72	69	61	48	59
Cash Conversion Cycle	31	15	52	38	22	27	32	20
Working Capital Days	43	5	-6	-38	-6	-2	16	39
ROCE %	10%	5%	-5%	-3%	5%	24%	29%	35%

FORCEMOTUpdated 18 Oct 2026, 5:25

Force Motors Limited

FORCEMOTUpdated 18 Oct 2026, 5:25

Market Cap

₹23,322Cr.

Current Price

₹17,700

High / Low

₹26,486/16,109

Stock P/E

21.5

ROE25.6%

ROCE35.4%

Book Value₹3,236

Face Value₹10.0

Dividend Yield0.28%

About

Quarterly results

Last reported quarters₹ Cr.

Quarter	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Jun 2023	1487	18	1307	11	63	111	35	72	54.62
Sep 2023	1802	16	1577	9	67	151	35	98	74.57
Dec 2023	1692	14	1467	4	68	146	35	95	71.9
Mar 2024	2011	14	1733	15	68	211	35	137	103.75
Jun 2024	1885	9	1636	15	69	186	36	120	90.76
Sep 2024	1941	5	1659	9	69	217	35	141	106.77
Dec 2024	1889	4	1658	15	71	172	36	110	83.53
Mar 2025	2356	7	2027	413	72	663	35	430	326.07
Jun 2025	2297	0	1965	25	70	287	35	185	140.57
Sep 2025	2081	0	1719	24	71	316	-11	350	265.26
Dec 2025	2128	0	1755	238	73	539	25	403	305.75
Mar 2026	2550	3	2136	34	72	373	27	274	207.7
Jun 2026	2440	0	2112	38	77	289	27	212	160.95

Profit & loss

Annual statement₹ Cr.

Year	Sales	Interest	Expenses	Other Income	Depreciation	Profit Before Tax	Tax	Net Profit	EPS (₹)
Mar 2015	2364	7	2217	66	81	125	19	101	76.93
Mar 2016	3025	5	2751	71	92	248	28	179	135.65
Mar 2017	3069	6	2801	86	113	235	23	180	136.55
Mar 2018	3423	7	3155	69	129	200	27	147	111.53
Mar 2019	3652	15	3374	82	151	194	24	147	111.7
Mar 2020	3080	28	2811	3	195	50	-17	58	44.16
Mar 2021	1988	28	1952	2	174	-164	-32	-112	-84.89
Mar 2022	3240	41	3173	52	191	-113	-34	-75	-56.62
Mar 2023	5029	68	4697	268	241	291	48	152	115.4
Mar 2024	6992	62	6082	37	267	618	35	402	304.86
Mar 2025	8071	26	6973	445	280	1237	35	800	607.13
Mar 2026	9057	3	7573	321	286	1515	20	1211	919.27
TTM	9199	3	7721	335	293	1517	—	1238	939.66

Shareholding pattern

As of Sep 2026%

Holder	Share
Promoters	61.63%
FIIs	7.1%
DIIs	2.48%
Public	28.78%

Shareholding trend

Ownership over time%

Quarter	Promoters	FIIs	DIIs	Public
Dec 2023	61.63%	4.91%	1.2%	32.27%
Mar 2024	61.63%	6.34%	0.86%	31.16%
Jun 2024	61.63%	7.78%	1.02%	29.57%
Sep 2024	61.63%	7.89%	0.92%	29.56%
Dec 2024	61.63%	8.15%	0.9%	29.3%
Mar 2025	61.63%	8.36%	1.43%	28.58%
Jun 2025	61.63%	9.77%	1.66%	26.94%
Sep 2025	61.63%	10.27%	1.48%	26.63%
Dec 2025	61.63%	10.46%	1.8%	26.12%
Mar 2026	61.63%	10.93%	1.75%	25.69%
Jun 2026	61.63%	9.51%	1.46%	27.39%
Sep 2026	61.63%	7.1%	2.48%	28.78%

Balance sheet

Assets & liabilities₹ Cr.

Period	Equity Capital	Reserves	Borrowings	Other Liabilities	Total Liabilities	Fixed Assets	CWIP	Investments	Other Assets	Total Assets
Mar 2015	13	1304	21	634	1972	638	240	1	1093	1972
Mar 2016	13	1474	14	800	2301	786	205	15	1296	2301
Mar 2017	13	1652	200	734	2600	911	220	10	1459	2600
Mar 2018	13	1786	0	720	2519	948	369	11	1191	2519
Mar 2019	13	1922	286	615	2836	1216	372	28	1220	2836
Mar 2020	13	1963	310	821	3107	1400	445	92	1169	3107
Mar 2021	13	1847	642	755	3258	1224	725	126	1184	3258
Mar 2022	13	1774	1069	842	3698	2033	302	154	1209	3698
Mar 2023	13	1919	955	1182	4069	2094	154	159	1662	4069
Mar 2024	13	2313	524	1633	4483	2031	171	166	2115	4483
Mar 2025	13	3090	17	2081	5202	1969	287	178	2768	5202
Mar 2026	13	4251	0	2341	6605	1921	536	173	3974	6605

Cash flows

Operating, investing & financing₹ Cr.

Period	Operating	Investing	Financing	Net cash flow
Mar 2015	226	-96	-45	85
Mar 2016	256	-210	-37	9
Mar 2017	471	-621	180	30
Mar 2018	256	-81	-223	-47
Mar 2019	312	-606	256	-37
Mar 2020	409	-327	-20	62
Mar 2021	7	-333	293	-32
Mar 2022	18	-356	375	37
Mar 2023	531	-256	-207	68
Mar 2024	1011	-198	-509	304
Mar 2025	1546	-926	-562	58
Mar 2026	1297	-900	-73	323

Key ratios

Historical financial ratios

Category	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	17	18	14	26	17	20	23	21	14	5	8	8
Inventory Days	87	92	73	68	66	91	136	89	77	83	73	72
Days Payable	87	70	80	81	52	95	108	72	69	61	48	59
Cash Conversion Cycle	17	40	6	13	31	15	52	38	22	27	32	20
Working Capital Days	15	22	30	42	43	5	-6	-38	-6	-2	16	39
ROCE %	10%	18%	14%	11%	10%	5%	-5%	-3%	5%	24%	29%	35%

Frequently asked questions

Quick answers about this company's financials on Fincrux

What is the market cap of FORCE MOTORS LIMITED (FORCEMOT)?

The reported market capitalisation for FORCE MOTORS LIMITED (FORCEMOT) is ₹23,322Cr. on Fincrux. Figures may update with market data and filings.

What is the current share price of FORCEMOT?

The current price shown for FORCE MOTORS LIMITED (FORCEMOT) on Fincrux is ₹17,700 with a 52-week high/low of ₹26,486/16,109.

What is the P/E ratio of FORCE MOTORS LIMITED (FORCEMOT)?

The stock P/E for FORCE MOTORS LIMITED (FORCEMOT) is 21.5 on Fincrux, with ROE at 25.6% and ROCE at 35.4%.

What were FORCEMOT latest quarterly results?

For Jun 2026, FORCE MOTORS LIMITED (FORCEMOT) reported sales ₹2,440 Cr and net profit ₹212 Cr (figures in ₹ crore unless noted).

What are FORCEMOT annual sales and net profit?

For TTM, FORCE MOTORS LIMITED (FORCEMOT) shows sales of ₹9,199 Cr and net profit of ₹1,238 Cr on the Fincrux profit & loss statement.

Who owns FORCE MOTORS LIMITED (FORCEMOT)?

Latest shareholding for FORCE MOTORS LIMITED (FORCEMOT) on Fincrux: Promoters 61.63% (Sep 2026), FIIs 7.10% (Sep 2026), DIIs 2.48% (Sep 2026), Public 28.78% (Sep 2026), No. of Shareholders 1,06,263% (Sep 2026).

Where can I find FORCE MOTORS LIMITED (FORCEMOT) financials?

FORCE MOTORS LIMITED (FORCEMOT) financials on Fincrux include quarterly results, profit and loss, cash flow, balance sheet, key ratios, and shareholding patterns for NSE/BSE research.

Does Fincrux show FORCEMOT balance sheet and cash flow?

Yes. The FORCE MOTORS LIMITED (FORCEMOT) page on Fincrux includes balance sheet, cash flow statements, historical ratios, and ownership trends alongside quarterly and annual results.

Figures in ₹ crore unless noted. Data sourced for research and may lag filings.

Last updated 18 October 2026 at 5:25