# FORCEMOT (FORCEMOT) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/forcemot

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹17,675
- Change: +0.14%
- As of: 2026-09-18
- 1D return: -0.92%
- 5D return: -3.78%
- 1M return: -2.22%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-09-18_

### Technical Outlook

As of September 18, 2026, FORCEMOT's technical stance is mixed across timeframes. The daily chart shows the price below key moving averages like the 20-day EMA (17654.7) and 50-day SMA (17870.74), suggesting short-term weakness, though the Supertrend indicator is bullish. Conversely, the monthly timeframe exhibits strength, with the price above the 20-day EMA (16450.23) and 50-day SMA (16821.27), supported by a bullish Supertrend. The weekly chart, however, indicates a bearish trend, with the price below its 20-day EMA (18417.56) and 50-day SMA (18165.07), and a bearish Supertrend signal. Recent formations include a "Doji" and "Inside Bar" on the monthly chart, a "Bearish Engulfing Reversal" on the weekly chart, and a "Harami" on the daily chart as of September 18, 2026. The stock is currently trading at ₹17488.0, with immediate resistance noted at the pivot level of ₹17586.0 (0.56% away) and support at the recent low of ₹17389.0 (-0.57% away). The annualized volatility stands at 51%, with a current drawdown of -32% and a maximum drawdown of -34%.

- Daily timeframe shows price below key EMAs and SMAs, while monthly shows price above.
- Weekly timeframe indicates a bearish trend with price below EMAs, SMAs, and Supertrend.
- Nearest resistance is at ₹17586.0 (0.56% above current price).
- Nearest support is at ₹17389.0 (-0.57% below current price).
- Watch for a sustained move above ₹17586.0 to challenge the daily weakness, or a break below ₹17389.0 to confirm weekly bearish signals.

- Doji
- Inside Bar
- Bearish Engulfing Reversal
- Harami
- Evening Star

### News Context

Force Motors Limited held its 67th Annual General Meeting (AGM) on September 16, 2026. During the AGM, the company adopted its audited financial statements for the fiscal year ending March 31, 2026, and declared a dividend. Key resolutions included the re-appointment of directors and an amendment to the company's Memorandum of Association to broaden its business scope into areas such as real estate, contract manufacturing, securities trading, and power generation. The company also sought shareholder approval for charitable contributions up to ₹50 crores annually. In operational news, Force Motors reported a significant increase in total sales for August 2026, with sales reaching 3,802 units, a 58.22% rise compared to August 2025. This growth was primarily driven by domestic sales, which increased by 62.14% to 3,721 units, while export sales saw a decrease of 25.00% to 81 units.

- Force Motors held its 67th AGM on September 16, 2026, adopting FY2026 financial statements and declaring a dividend.
- Shareholders approved director re-appointments and an amendment to the Memorandum of Association to expand business activities.
- The company reported total sales of 3,802 units for August 2026, a 58.22% increase year-over-year.
- Domestic sales for August 2026 rose 62.14% to 3,721 units, while export sales declined 25.00% to 81 units.
- Force Motors is mandating physical shareholders to update KYC details by April 1, 2024, to ensure dividend payments are processed electronically.

- FORCE MOTORS LTD has informed the Exchange regarding Proceedings of Annual General Meeting held on September 16, 2026 |SUBJECT: Shareholders meeting
- FORCE MOTORS LTD has informed the Exchange regarding Monthly Business Updates for the month of August 2026 |SUBJECT: Monthly Business Updates
- FORCE MOTORS LTD has informed the Exchange about Copy of Newspaper Publication of Notice of 67th AGM |SUBJECT: Copy of Newspaper Publication
- FORCE MOTORS LTD has informed the Exchange about Communication to Shareholders holding Shares in Physical Mode for furnishing of PAN and Other KYC details |SUBJECT: General Updates
- FORCE MOTORS LTD has informed the Exchange regarding Notice of Annual General Meeting to be held on September 16, 2026 |SUBJECT: Shareholders meeting

### What Changed

As of September 18, 2026, Force Motors (FORCEMOT) on the NSE saw a slight price decrease, closing at ₹17,488.0 compared to its previous price of ₹17,650.0. The available evidence does not indicate any new filings or news developments for the company around this observation date. The company's profile and listing on the NSE remain unchanged from the prior context.

- On September 18, 2026, Force Motors' stock closed at ₹17,488.0 on the NSE.
- This represents a decrease from the previous price of ₹17,650.0.
- No new filings or news were reported for Force Motors as of September 18, 2026.

### Official Filings

Force Motors Limited held its 67th Annual General Meeting (AGM) on September 16, 2026. During the AGM, shareholders approved the audited standalone and consolidated financial statements for the fiscal year ending March 31, 2026, and a dividend was declared. Key governance matters addressed included the re-appointment of Mr. Prasan Abhaykumar Firodia as a director and the re-appointment of three independent directors. The company also proposed amendments to its Memorandum of Association to broaden its business scope into areas such as real estate, contract manufacturing, securities trading, and power generation. Separately, Force Motors reported a significant increase in sales for August 2026, with total unit sales rising by 58.22% year-on-year to 3,802 units. This growth was primarily driven by domestic sales, which increased by 62.14%. The company also continues to engage with physical shareholders to update their Know Your Customer (KYC) details, a requirement mandated by SEBI regulations to ensure dividends are paid electronically.

- On September 16, 2026, Force Motors Limited held its 67th AGM, adopting audited financial statements for FY 2025-26 and declaring a dividend.
- Shareholder approval was sought for the re-appointment of directors and amendments to the Memorandum of Association to expand business activities.
- Total sales for August 2026 reached 3,802 units, a 58.22% increase compared to 2,403 units in August 2025.
- Domestic sales in August 2026 increased by 62.14% to 3,721 units.
- Physical shareholders were notified on August 25, 2026, to update KYC details as per SEBI regulations to receive dividends electronically.

- FORCE MOTORS LTD has informed the Exchange regarding Proceedings of Annual General Meeting held on September 16, 2026 |SUBJECT: Shareholders meeting
- FORCE MOTORS LTD has informed the Exchange regarding Monthly Business Updates for the month of August 2026 |SUBJECT: Monthly Business Updates
- FORCE MOTORS LTD has informed the Exchange about Copy of Newspaper Publication of Notice of 67th AGM |SUBJECT: Copy of Newspaper Publication
- FORCE MOTORS LTD has informed the Exchange about Communication to Shareholders holding Shares in Physical Mode for furnishing of PAN and Other KYC details |SUBJECT: General Updates
- FORCE MOTORS LTD has informed the Exchange regarding Notice of Annual General Meeting to be held on September 16, 2026 |SUBJECT: Shareholders meeting
- FORCE MOTORS LTD has informed the Exchange about Notice of Shareholders Meeting for Annual General Meeting to be held on 16-Sep-2026 |SUBJECT: Notice Of Shareholders Meetings-XBRL
- FORCEMOT: FORCE MOTORS LTD has informed the Exchange about Copy of Newspaper Publication regarding the Notice of Special Window for Transfer and Dematerialisation of Physical Securities. |SUBJECT: Copy of Newspaper Publication
- FORCE MOTORS LTD has informed the Exchange about General Updates- Investor Presentation on the Standalone and Consolidated financial performance of the Company for the quarter ended on 30th June, 2026. |SUBJECT: General Updates

### Fundamentals

Force Motors has demonstrated a significant turnaround in its operating performance. Following a period of losses in FY2021 and FY2022, the company has shown strong revenue growth, with sales increasing from ₹6,992 crore in FY2024 to a projected ₹9,057 crore in FY2026. This top-line expansion has been accompanied by a substantial improvement in profitability. Operating profit has surged from ₹897 crore in FY2024 to a projected ₹1,484 crore in FY2026, with operating profit margins (OPM) improving from 13% to a projected 16% over the same period. Net profit has also seen a dramatic increase, rising from ₹388 crore in FY2024 to a projected ₹1,212 crore in FY2026, with Earnings Per Share (EPS) growing from ₹294.54 to a projected ₹919.55.

The company's balance sheet shows a notable reduction in borrowings, which decreased from ₹955 crore in March 2023 to ₹524 crore in March 2024, with further projected reductions to zero by March 2026. This deleveraging, coupled with increasing reserves (from ₹2,242 crore in March 2024 to a projected ₹4,181 crore in March 2026), indicates strengthening financial health. Free cash flow has also turned positive, growing from ₹810 crore in FY2024 to a projected ₹761 crore in FY2026, suggesting improved cash generation capabilities.

Key monitoring areas include the continued growth in sales and operating profit, the sustained improvement in OPM, and the management of working capital. The company's ability to maintain its positive free cash flow generation and further reduce debt will be crucial for its financial resilience.

- Sales grew from ₹6,992 crore in FY2024 to a projected ₹9,057 crore in FY2026.
- Operating profit increased from ₹897 crore in FY2024 to a projected ₹1,484 crore in FY2026, with OPM rising from 13% to 16%.
- Net profit grew from ₹388 crore in FY2024 to a projected ₹1,212 crore in FY2026.
- Borrowings decreased from ₹955 crore in March 2023 to ₹524 crore in March 2024, with projections to reach zero by March 2026.
- Free cash flow was ₹810 crore in FY2024 and is projected to be ₹761 crore in FY2026.

### Bull Case

Force Motors has demonstrated growth in key financial metrics. The company's compounded sales growth over five years was 35%, and its compounded profit growth over the same period was 62%. In the trailing twelve months (TTM), sales growth stood at 8% and profit growth at 82%. The company's cash flow from operations has also shown an upward trend, increasing from ₹131.0 crore in March 2019 to ₹163.0 crore in March 2020. Furthermore, free cash flow improved from a negative ₹183.0 crore in March 2019 to a negative ₹49.0 crore in March 2020, indicating a reduction in cash burn. Total assets grew from ₹2,836 crore in March 2019 to ₹3,098 crore in March 2020, accompanied by an increase in reserves from ₹1,920 crore to ₹1,952 crore over the same period.

- Compounded sales growth over 5 years was 35% and compounded profit growth was 62%.
- TTM profit growth was 82% and sales growth was 8%.
- Cash flow from operations increased from ₹131.0 crore (Mar 2019) to ₹163.0 crore (Mar 2020).
- Free cash flow improved from ₹-183.0 crore (Mar 2019) to ₹-49.0 crore (Mar 2020).
- Total assets increased to ₹3,098 crore in March 2020 from ₹2,836 crore in March 2019.

### Bear Case

Force Motors' balance sheet shows an increase in borrowings from ₹286 crore in March 2019 to ₹310 crore in March 2020. Concurrently, Capital Work In Progress (CWIP) rose from ₹372 crore to ₹445 crore over the same period. Investments also saw a significant jump from ₹23 crore to ₹78 crore. While total assets grew to ₹3,098 crore in March 2020 from ₹2,836 crore in March 2019, this was accompanied by a rise in total liabilities to ₹3,098 crore from ₹2,836 crore. The company's free cash flow was negative at ₹49 crore for the period ending March 2020, an improvement from ₹183 crore in March 2019, but still indicating cash outflow. The weekly trend analysis indicates a bearish Supertrend direction, with the Supertrend level at ₹21,315.4.

- Borrowings increased to ₹310 crore as of March 2020 from ₹286 crore in March 2019.
- Capital Work In Progress (CWIP) rose to ₹445 crore in March 2020, up from ₹372 crore in March 2019.
- Investments increased to ₹78 crore in March 2020, from ₹23 crore in March 2019.
- Free Cash Flow was negative at ₹49 crore for the period ending March 2020.
- The weekly trend shows a bearish Supertrend direction.

### FAQs

**What were Force Motors' key financial changes between March 2019 and March 2020?**

Between March 2019 and March 2020, Force Motors' total assets increased from ₹2,836 crore to ₹3,098 crore. This growth was accompanied by an increase in fixed assets from ₹1,216 crore to ₹1,400 crore, and investments rose from ₹23 crore to ₹78 crore. Borrowings also increased from ₹286 crore to ₹310 crore, while equity capital remained stable at ₹13 crore. Reserves grew slightly from ₹1,920 crore to ₹1,952 crore. Cash flow from operating activities increased to ₹409 crore in March 2020 from ₹314 crore in March 2019. However, cash from investing activities became a larger outflow, decreasing from -₹606 crore to -₹327 crore, and cash from financing activities shifted from a positive ₹256 crore to a negative ₹20 crore. Consequently, free cash flow improved from -₹183 crore to -₹49 crore, and net cash flow turned positive at ₹62 crore in March 2020, compared to -₹35 crore in March 2019.

**How has Force Motors' sales and profit growth trended recently?**

Force Motors has shown a Compounded Sales Growth of 35% over the last 5 years and 8% on a Trailing Twelve Months (TTM) basis. Profit growth has been stronger, with a Compounded Profit Growth of 62% over 5 years and 82% on a TTM basis.

**What are the key upcoming events for Force Motors?**

Force Motors held its 67th Annual General Meeting on September 16, 2026. At this meeting, the company adopted financial statements for the fiscal year ended March 31, 2026, and declared a dividend. Shareholder approval was sought for the re-appointment of directors and an amendment to the company's Memorandum of Association to expand business activities. The company also announced a final dividend of ₹50 per equity share for FY 2025-26, with a record date of September 9, 2026.

**What is the current technical trend for Force Motors?**

As of September 18, 2026, the daily trend for Force Motors shows a closing price of ₹17,488.0, which is below the 20-day Exponential Moving Average (EMA) of ₹17,654.7 and the 50-day EMA of ₹17,943.62. The Supertrend indicator is bullish at ₹17,141.86. However, the weekly trend is indicated as bearish, with the Supertrend at ₹21,315.4 and the closing price below both the 20-day and 50-day Simple Moving Averages (SMA).

- FORCE MOTORS LTD has informed the Exchange regarding Proceedings of Annual General Meeting held on September 16, 2026 |SUBJECT: Shareholders meeting
- FORCE MOTORS LTD has informed the Exchange regarding Monthly Business Updates for the month of August 2026 |SUBJECT: Monthly Business Updates
- FORCE MOTORS LTD has informed the Exchange about Copy of Newspaper Publication of Notice of 67th AGM |SUBJECT: Copy of Newspaper Publication
- FORCE MOTORS LTD has informed the Exchange about Communication to Shareholders holding Shares in Physical Mode for furnishing of PAN and Other KYC details |SUBJECT: General Updates
- FORCE MOTORS LTD has informed the Exchange regarding Notice of Annual General Meeting to be held on September 16, 2026 |SUBJECT: Shareholders meeting
## Technical analytics

- As of: 2026-09-18
- Daily trend: Weak Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹17,586
- Risk regime: Higher Price Risk

### Support levels
- 17276
- 16773
- 16109

### Resistance levels
- 17687.25
- 18767.15625
- 18984.5

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.92% |
| return_10 | -0.07% |
| return_1m | -3.91% |
| return_1y | -7.67% |
| return_20 | -2.22% |
| return_3m | -6.29% |
| return_5 | -3.78% |
| return_6m | -18.92% |
| return_since_start | +163.79% |
| return_ytd | -16.16% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -33.68% |
| annualized_volatility | +51.03% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Rises Year-Over-Year but Expense Growth Limits Profit Gains; Sequential Profit Decline Exceeds Revenue Drop

In the first quarter of FY2026-27, ending 30 June 2026, Force Motors reported revenue of ₹2,440.01 crore, up 6.2% from the same quarter last year. However, total expenses grew faster at 7.6%, leaving pre-tax profit virtually unchanged. After-tax profit rose 22.8%, primarily due to a lower income tax expense. Compared to the preceding quarter, revenue fell 4.3% while expenses dropped only 0.9%, causing a sharp 22.8% decline in pre-tax profit. The quarter’s results show that when revenue changes, profitability moves disproportionately because costs do not shift at the same rate.

## Revenue and Expense Trends

Year-over-year, revenue from operations increased from ₹2,297.25 crore to ₹2,440.01 crore, a gain of 6.2%. Total expenses rose from ₹2,035.64 crore to ₹2,189.66 crore, an increase of 7.6%. Because expense growth outpaced revenue growth, the company’s ability to convert additional sales into profit was limited.

Sequentially, revenue dropped from ₹2,549.84 crore in the previous quarter to ₹2,440.01 crore, a decline of 4.3%. Total expenses fell from ₹2,210.27 crore to ₹2,189.66 crore, a reduction of just 0.9%. Expenses fell by a much smaller percentage than revenue, which led to a sharper fall in profit.

Other income for the quarter was ₹38.10 crore, contributing to total income alongside revenue.

## Profitability and Tax Impact

Pre-tax profit stood at ₹288.45 crore, nearly identical to the ₹286.67 crore recorded in Q1 of the previous year. The marginal increase reflects the 6.2% revenue gain being largely absorbed by the 7.6% rise in expenses. After tax, profit for the period rose from ₹176.36 crore to ₹216.59 crore, up 22.8%. This divergence is explained by a lower effective tax rate: tax expense represented 35.4% of pre-tax profit in Q1 FY2025-26, compared with 26.6% in Q1 FY2026-27.

Sequentially, pre-tax profit fell from ₹373.42 crore in Q4 FY2025-26 to ₹288.45 crore (down 22.8%), while net profit declined from ₹278.54 crore to ₹216.59 crore (down 22.2%). The sequential decline in profit was driven by the revenue drop, although a steep decrease in finance costs (from ₹2.74 crore to ₹4 lakh) softened the impact.

## Cost Composition

The largest component of total expenses in the quarter was cost of materials consumed at ₹1,749.03 crore, representing nearly 80% of total expenses. Employee benefit expense was ₹195.12 crore (8.9%), and depreciation and amortisation was ₹77.40 crore (3.5%). Finance costs were negligible at ₹4 lakh. The dominance of material costs means that even small changes in input costs or selling prices can significantly affect profitability. The year-over-year rise in total expenses (7.6%) outpaced revenue growth (6.2%), limiting the conversion of additional sales into profit.

## Comprehensive Income

Comprehensive income for the period was ₹222.01 crore, slightly above the net profit of ₹216.59 crore due to other comprehensive income of ₹5.42 crore (net of tax).

## Key Takeaway

Force Motors grew revenue compared to last year, but cost increases largely offset the gain in pre-tax profit. After-tax profit improved thanks to a lower tax expense. The sequential comparison to the preceding quarter reveals that when revenue declines, profitability falls by a much wider margin because expenses do not decline at the same rate. With material costs making up the vast majority of expenses, the company’s profit performance is closely tied to its ability to manage that cost line in relation to revenue.

### Ratios

## Official filings

- 2026-09-18 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_18092026190230_Voting_Results_to_BSE-NSE-1.pdf)
- 2026-09-16 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_16092026183142_Proceedings_of_67th_AGM_of_FML.pdf)
- 2026-09-01 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_01092026130023_intisales01092026.pdf)
- 2026-08-26 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_26082026173456_Intimation_Newspaper.pdf)
- 2026-08-25 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_25082026182143_IntimationKYC.pdf)
- 2026-08-25 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_25082026232729_1_Notice_of_67th_AGM-_Annual_Report_-_34_1_.pdf)
- 2026-08-25 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_204_WebXMLFile_20260825_233428765.xml)
- 2026-08-24 — Generic Announcement: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_24082026153707_Intimation_Reg_30_Newspaper_Publication.pdf)
- 2026-08-07 — Earnings Presentation: FORCE MOTORS LTD — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_07082026171926_Intimation_of_Investor_Presentation.pdf)
- 2026-08-03 — Generic Announcement: Force Motors Limited reported sales data for July 2026, with total domestic and export sales reaching 3,770 units, a 36.84% increase compared to 2,755 units in the previous year. Domestic sales were 3,738 units, up 38.44%, while export sales were 55 units, a decrease of 41.82%. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_03082026135743_intijulysalesocr.pdf)
- 2026-07-30 — Generic Announcement: Force Motors Limited announced the publication of its un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The results were published on July 30, 2026, in the Financial Express, Business Standard, and Loksatta newspapers. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_30072026141846_Intimation_Newspaper.pdf)
- 2026-07-29 — Official Filing: Force Motors Limited announced on July 29, 2026, the re-appointment of three Independent Directors: Mr. Vallabh Bhanshali, Mr. Mukesh Patel, and Ms. Sonia Prashar. Each director will serve a second term of five consecutive years, subject to shareholder approval. Mr. Bhanshali's term is from August 13, 2027, to August 12, 2032. Mr. Patel's term is also from August 13, 2027, to August 12, 2032. Ms. Prashar's term is from September 28, 2027, to September 27, 2032. None of the directors are related to any other director on the board.
- 2026-07-29 — Generic Announcement: On July 29, 2026, Force Motors Limited's Board of Directors approved changes to its Senior Management Officials, effective immediately. This action followed a recommendation from the Nomination and Remuneration Committee. The filing lists Makar and P. Kanade, Pradeep S. Dhadiwal, Ajai Kumar Sharma, Vivek Gosain, Anshul Saxena, Mrs. Archana Ashok Gharte, Ram Kumar Manisb Badoniya, Jeevan Narayanan, Mr. Sajan Sivaraman, and Ms. Ananya Bhattacharjee as officials who ceased to be part of the Senior Management Officials. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026182135_IntiSMO.pdf)
- 2026-07-29 — Official Filing: On July 29, 2026, Force Motors Ltd. held a board meeting where it was decided that Makarand P Kanade, Pradeep S. Dhadiwal, Ajai Kumar Sharma, Vivek Gosain, Anshul Saxena, Archana Ashok Gharte, Ram Kumar, Manish Badoniya, Jeevan Narayanan, Sajan Sivaraman, and Ananya Bhattacharjee ceased to be part of the company's Senior Management Officials. This decision followed a recommendation from the Nomination and Remuneration Committee.
- 2026-07-29 — Management Change: Force Motors Limited announced on July 29, 2026, the re-appointment of three Independent Directors: Mr. Vallabh Bhanshali, Mr. Mukesh Patel, and Ms. Sonia Prashar. Each director will serve a second term of five consecutive years, subject to shareholder approval. Mr. Bhanshali's term is from August 13, 2027, to August 12, 2032. Mr. Patel's term is also from August 13, 2027, to August 12, 2032. Ms. Prashar's term is from September 28, 2027, to September 27, 2032. None of the directors are related to any other director on the board. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026175948_BM_OutcomeIDReappointment.pdf)
- 2026-07-29 — Generic Announcement: On July 29, 2026, the Board of Directors of Force Motors Limited approved a proposal to alter the Object Clause of the Company's Memorandum of Association, subject to shareholder approval. The alteration aims to make the clause more comprehensive to facilitate new projects and activities, including power generation for captive use or external commercial supply. Further details on seeking member approval will be provided later. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026173303_IntiMOA.pdf)
- 2026-07-29 — Generic Announcement: Force Motors Limited announced on July 29, 2026, the re-appointment of three Independent Directors: Mr. Vallabh Bhanshali, Mr. Mukesh Patel, and Ms. Sonia Prashar. Each director will serve a second term of five consecutive years, subject to shareholder approval. Mr. Bhanshali's term is from August 13, 2027, to August 12, 2032. Mr. Patel's term is also from August 13, 2027, to August 12, 2032. Ms. Prashar's term is from September 28, 2027, to September 27, 2032. None of the directors are related to any other director on the board. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026175506_BM_OutcomeIDReappointment.pdf)
- 2026-07-29 — Generic Announcement: Force Motors Limited's Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, on July 29, 2026. The company reported a standalone net profit of ₹212.07 crore and consolidated net profit of ₹216.59 crore for the quarter. The acquisition of Veera Tanneries Private Limited was completed on April 23, 2026, and its results are now consolidated. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026171917_OutcomeFinancialresults.pdf)
- 2026-07-29 — Generic Announcement: On July 29, 2026, Force Motors Limited's Board of Directors approved changes to its Senior Management Officials, effective immediately. This action followed a recommendation from the Nomination and Remuneration Committee. The filing lists Makar and P. Kanade, Pradeep S. Dhadiwal, Ajai Kumar Sharma, Vivek Gosain, Anshul Saxena, Mrs. Archana Ashok Gharte, Ram Kumar Manisb Badoniya, Jeevan Narayanan, Mr. Sajan Sivaraman, and Ms. Ananya Bhattacharjee as officials who ceased to be part of the Senior Management Officials. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026183911_IntiSMO.pdf)
- 2026-07-29 — Management Change: Force Motors Limited announced on July 29, 2026, the re-appointment of three Independent Directors: Mr. Vallabh Bhanshali, Mr. Mukesh Patel, and Ms. Sonia Prashar. Each director will serve a second term of five consecutive years, subject to shareholder approval. Mr. Bhanshali's term is from August 13, 2027, to August 12, 2032. Mr. Patel's term is also from August 13, 2027, to August 12, 2032. Ms. Prashar's term is from September 28, 2027, to September 27, 2032. None of the directors are related to any other director on the board. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_29072026174819_BM_OutcomeIDReappointment.pdf)
- 2026-07-29 — Official Filing: Force Motors Ltd. reported a change in management following a board meeting on July 29, 2026. Vallabh Roopchand Bhanshali and Mukesh Mangalbhai Patel will have an effective change date of August 13, 2027. Sonia Prashar's effective change date is September 28, 2027.
- 2026-07-22 — Official Filing: FORCE MOTORS LTD will hold a board meeting on July 29, 2026, to consider unaudited standalone and consolidated financial results for the quarter ended June 2026. The trading window for the company will be closed from July 1, 2026, to July 31, 2026.
- 2026-07-22 — Generic Announcement: Force Motors Limited will hold a Board Meeting on July 29, 2026, to approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The trading window for designated persons and their immediate relatives is closed from July 1, 2026, to July 31, 2026, inclusive. — [Official attachment](https://nsearchives.nseindia.com/corporate/FORCEMOTORS_22072026223846_bmintimation.pdf)

## News and market events

- 2026-09-06 — BUSINESSTODAY: **APL Apollo, GNFC, Apar, Force Motors among stocks to turn ex-dividend next week; big payouts in focus** — Apar Industries, Empire Industries, Force Motors, TVS Srichakra, Gujarat Narmada Valley Fertilizers & Chemicals, Transpek Industry, Naperol Investments, Jyoti Resins & Adhesives, Gujarat Energy, APL Apollo Tubes — [Source](https://www.businesstoday.in/markets/stocks/story/apl-apollo-gnfc-apar-force-motors-among-stocks-to-turn-ex-dividend-next-week-big-payouts-in-focus-553318-2026-09-06)
- 2026-09-02 — CNBC-TV18: **Which auto stocks should you buy after August sales? Here's what Jefferies, Nomura, Citi say** — Compared with Jefferies' estimates, August wholesales were broadly in line for Maruti Suzuki, Hero MotoCorp and Hyundai, while the rest of the automakers came in ahead of expectations. — [Source](https://www.cnbctv18.com/market/auto-stocks-to-buy-august-sales-bajaj-auto-tata-motors-mahindra-mahindra-maruti-suzuki-jefferies-nomura-citi-picks-19981978.htm)
- 2026-08-13 — Economic Times: **Ahead of Market: 10 things that will decide stock market action on Friday** — Sensex gained 114 points while Nifty fell over 40 points on expiry day, reflecting divergent benchmark moves. Softer inflation supported sentiment, but elevated crude prices and geopolitical risks kept investors cautious, with Nifty remaining rangebound between key technical levels. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-stock-market-action-on-friday/articleshow/133218209.cms)
- 2026-08-13 — Mint: **Top Gainers & Losers on 13 August: Apar Industries, Hindalco, Ather Energy, Force Motors, CUB among top losers** — Indian stocks slid further, driven down by weak financial participation and high crude oil prices. The Nifty decreased by 0.34% and Sensex by 0.13%, with key sectors like metals and cement seeing significant losses amid ongoing geopolitical tensions. — [Source](https://www.livemint.com/market/stock-market-news/top-gainers-losers-on-13-august-apar-industries-hindalco-ather-energy-force-motors-cub-among-top-losers-11786615201243.html)
- 2026-08-13 — CNBC-TV18: **Sensex Today | Stock Market LIVE Updates: Nifty falls to 24,350 again; Hindalco down 3%** — Sensex Today | Stock Market LIVE Updates: We are in the second half of this Sensex weekly expiry session, and the markets are under pressure again, as the Nifty index falls close to 50 points, falling below 24,350. The Nifty bank index is taking a heavier blow, down over 300 points. Grasim, Ultratech and Hindalco are the top laggards. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-expiry-today-nifty-50-msci-gcpl-lg-tata-motors-lenskart-laurus-adani-ashok-leyland-share-price-liveblog-19968111.htm)
- 2026-08-05 — CNBC-TV18: **Sensex Today | Stock Market Live Updates: Nifty gives up early gains, slips to red; MapMyIndia down 6%** — Sensex Today | Stock Market Live Updates: The markets are moving on shaky ground. The Nifty contrary to indications, is trading flat, trading around 24,600. The Nifty Bank is also relatively flat with a negative bias and is below 57,900. Apollo Hospital, SBI Life and Nestle are the top laggards. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-rbi-policy-today-cas-ongc-lombard-auto-nbfcs-realty-bharti-nykaa-share-price-liveblog-19961862.htm)
- 2026-08-03 — The Hindu: **Sensex today | Stock Market Live: Sensex up 600 pts, Nifty holds 24,500; IndiGo leads gainers** — Sensex, Nifty, Stock Price Live Updates: The fresh week began on a positive note for Indian stocks, thanks to softer crude oil prices and stable global markets. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-3rd-august-2026/article71298312.ece)
- 2026-07-29 — Economic Times: **Force Motors Q1 FY27 net profit rises 23% to ₹217 crore** — Its consolidated revenue from operations rose 6.2 per cent YoY to ₹2,440.01 crore during the quarter, compared with ₹2,297.25 crore a year earlier. — [Source](https://auto.economictimes.indiatimes.com/news/commercial-vehicle/force-motors-q1-fy27-net-profit-rises-23-to-217-crore/132713215)
- 2026-07-29 — CNBC-TV18: **Q1 Results LIVE Updates: L&T shares rise 3%; Four Nifty names, Dabur, Bajaj Housing report** — Q1 Results LIVE Updates: Four Nifty 50 stocks are reporting their earnings today namely Asian Paints, Adani Enterprises, Adani Ports and Eicher Motors. Dabur, Waaree Energies, ACME Solar, Bajaj Housing Finance, CarTrade Tech, Chalet Hotels, Colgate-Palmolive, J&K Bank, Hexaware Technologies, KPIT Tech, Garden Reach Shipbuilders, Force Motors, Dhanlaxmi Bank, Devyani International, MOIL, Piramal Pharma, Prestige Estates, Redington, Star Health Insurance, Syngene, Teamlease, Triveni Engineering, Zensar Tech are among the other earnings from the broader markets. L&T, Netweb Tech, among others will also be reacting to their results. Watch this space for all the LIVE Q1 results updates. — [Source](https://www.cnbctv18.com/market/q1-results-live-updates-asian-paints-adani-ports-ent-hul-eicher-bajaj-hsg-dabur-mtar-kpit-tech-cartrade-colgate-share-price-liveblog-19956225.htm)

## Business profile

**Strategic vision:** Automotive manufacturer of vehicles, aggregates, and components.

### Business segments
- **Light Commercial Vehicles:** Offers vehicles designed for various passenger transport needs, including the Traveller N range.
- **Multi-Utility Vehicles:** Provides versatile vehicles for passenger and school transportation, such as the Monobus.
- **Super Specialty Vehicles:** Includes specialized vehicles for critical operations and off-road capabilities, like cash vans and the Gurkha.
- **Electric Vehicles:** Features electric vans for last-mile and shared mobility solutions.
- **Aggregates and Components:** Develops and produces vehicle aggregates and components, including engines for global automotive partners.

### Competitive strengths
- Fully integrated automobile manufacturing capabilities.
- Established global associations for engine production.
- Diverse product portfolio catering to various transport needs.
- Advanced research and development center.

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## Freshness and sources

- Data as of: 2026-09-18
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/forcemot
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