FORCE MOTORS quarterly results and financials

FORCE MOTORS (FORCEMOT)₹18,837−0.33%(9 Nov 2026 close)Passenger Cars & Utility Vehicles

Key facts

In the Sep 2026 quarter (consolidated), FORCE MOTORS reported sales of ₹2,935 Cr, up 40.7% from Sep 2025, and net profit of ₹293 Cr, down 16.3% year on year. For the year to Mar 2026, sales were ₹9,081 Cr and net profit ₹1,208 Cr.

Sales (Sep 2026): ₹2,935 Cr
Net profit (Sep 2026): ₹293 Cr
Sales (FY Mar 2026): ₹9,081 Cr
Net profit (FY Mar 2026): ₹1,208 Cr
EPS (Sep 2026): ₹222.61
Borrowings (Mar 2026): ₹0 Cr

Company filings, consolidated accounts; latest reported quarter Sep 2026

FORCE MOTORS quarterly results

₹ crore unless stated; each column is a quarter.

FORCE MOTORS Quarterly results
	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales	1,697	2,018	1,892	1,946	1,895	2,365	2,305	2,086	2,136	2,557	2,447	2,935
Expenses	1,473	1,726	1,633	1,657	1,651	2,021	1,966	1,712	1,747	2,129	2,104	2,480
Operating Profit	215	279	245	277	232	329	323	363	374	414	328	434
OPM %	13.0%	14.0%	13.0%	14.0%	12.0%	14.0%	14.0%	16.9%	18.0%	16.0%	13.0%	15.0%
Other Income	3.99	17.99	15.01	9.01	19.99	418	24.98	26.01	241	38.96	43.01	46.01
Interest	13.99	14.01	8.99	5.01	3.99	6.99	0.00	0.00	0.00	2.99	0.00	2.01
Depreciation	68.09	68.02	69.01	68.99	71.04	72.01	70.09	71.09	73.01	72.10	77.10	82.08
Profit before tax	137	215	182	212	177	670	279	318	544	379	294	397
Tax %	37.0%	35.1%	36.0%	36.1%	35.0%	35.1%	36.1%	−11.0%	25.0%	26.1%	26.1%	26.1%
Exceptional items	0.00	0.00	0.00	0.00	0.00	258	0.00	0.00	152	0.00	0.00	0.00
Net Profit	84.68	139	116	135	115	433	175	350	404	278	216	293
EPS (Rs)	64.66	106.17	87.65	102.20	87.30	329.32	133.56	265.38	307.38	211.04	163.87	222.61

FORCE MOTORS profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

FORCE MOTORS Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	3,036	3,078	3,435	3,662	3,092	1,994	3,251	5,044	7,017	8,104	9,081	10,075
Expenses	2,740	2,790	3,141	3,367	2,810	1,956	3,178	4,700	6,070	6,951	7,549	8,461
Operating Profit	274	268	268	275	261	23.99	49.99	313	897	1,100	1,483	1,550
OPM %	9.0%	9.0%	8.0%	8.0%	8.0%	1.2%	1.6%	6.0%	13.0%	14.0%	16.0%	15.4%
Other Income	70.96	86.04	68.97	82.01	2.99	1.99	51.96	268	36.98	446	321	369
Interest	5.01	6.01	6.99	15.01	28.01	28.01	40.99	67.98	62.02	25.98	2.99	5.00
Depreciation	92.11	113	129	151	195	174	191	241	267	280	286	304
Profit before tax	250	236	202	191	42.15	−177	−130	273	607	1,243	1,519	1,614
Tax %	28.1%	23.0%	27.1%	25.0%	−20.0%	−30.0%	−30.0%	51.0%	36.1%	35.1%	20.1%	—
Exceptional items	0.00	1.01	2.01	0.00	−31.06	−22.03	1.01	102	−1.01	251	156	152
Net Profit	178	179	146	143	49.79	−124	−90.70	133	386	798	1,208	1,191
EPS (Rs)	135.51	136.37	111.46	108.57	37.97	−93.58	−68.96	101.13	293.76	606.61	918.07	904.90
Dividend payout %	7.0%	7.0%	9.1%	9.1%	26.1%	−5.0%	−13.9%	10.1%	7.1%	7.0%	5.0%	—

FORCE MOTORS balance sheet

₹ crore, at each year end.

FORCE MOTORS Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	13.00	13.00	13.01	13.00	13.00	13.00	13.01	13.00	13.00	13.01	13.00	13.00
Reserves	1,309	1,479	1,659	1,792	1,922	1,956	1,831	1,739	1,866	2,250	3,027	4,195
Borrowings	10.96	13.96	199	0.00	285	309	640	1,066	952	523	16.94	0.00
Other Liabilities	642	797	734	719	614	819	753	840	1,178	1,627	2,073	2,332
Total Liabilities	1,975	2,304	2,605	2,523	2,834	3,097	3,238	3,658	4,008	4,414	5,131	6,540
Fixed Assets	635	783	908	945	1,211	1,396	1,219	2,026	2,087	2,025	1,962	1,914
CWIP	241	206	221	370	373	447	728	303	155	172	288	538
Investments	0.00	13.96	8.98	9.98	22.95	77.83	99.71	111	96.72	90.74	103	97.77
Other Assets	1,098	1,302	1,466	1,198	1,227	1,177	1,191	1,218	1,670	2,125	2,778	3,988
Inventories	392	547	437	475	502	550	556	635	825	1,160	1,180	1,255
Trade receivables	109	150	115	242	167	169	126	189	197	104	174	191
Cash & equivalents	306	319	235	42.90	4.99	68.81	36.91	74.85	141	448	506	831
Total Assets	1,975	2,304	2,605	2,523	2,834	3,097	3,238	3,658	4,008	4,414	5,131	6,540

FORCE MOTORS cash flow

₹ crore, for each year.

FORCE MOTORS Cash flow
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	226	256	471	256	314	409	6.99	18.01	532	1,014	1,546	1,297
Cash from investing activity	−96.33	−211	−623	−81.22	−608	−328	−334	−357	−257	−199	−929	−902
Cash from financing activity	−44.96	−36.95	180	−223	256	−19.97	293	375	−207	−508	−562	−72.95
Net cash flow	85.20	9.02	30.07	−47.12	−35.10	62.14	−32.08	37.11	68.18	309	58.20	325
Capex	117	238	235	324	498	458	453	399	260	208	367	540
Free cash flow	109	19.07	237	−62.26	−184	−49.16	−447	−316	275	813	1,186	764
CFO / OP %	176.0%	107.0%	197.9%	106.0%	131.0%	163.0%	41.0%	32.0%	171.0%	130.0%	161.0%	116.0%

FORCE MOTORS ratios

Working-capital days and returns, by year.

FORCE MOTORS Ratios
	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	18	19	15	27	18	21	24	22	15	6	9	9
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	16	39	5	12	30	14	51	37	21	26	31	19
Working capital days	14	22	29	42	42	5	−6	−38	−7	−3	15	38
ROCE %	10.0%	17.9%	13.9%	11.0%	10.0%	5.0%	−5.0%	−3.0%	5.0%	24.0%	30.0%	35.9%

FORCE MOTORS: frequently asked questions

What are the latest quarterly results of FORCE MOTORS?

For the Sep 2026 quarter, FORCE MOTORS reported sales of ₹2,935 Cr, up 40.7% year on year and net profit of ₹293 Cr, down 16.3% year on year. The operating margin was 15.0%.

What is the annual revenue of FORCE MOTORS?

FORCE MOTORS' sales for the year to Mar 2026 were ₹9,081 Cr; over the last twelve months they were ₹10,075 Cr.

What is the net profit of FORCE MOTORS?

Net profit for the year to Mar 2026 was ₹1,208 Cr, and ₹1,191 Cr over the last twelve months. Earnings per share over the same trailing period were ₹904.90.

How much debt does FORCE MOTORS have?

FORCE MOTORS reported borrowings of ₹0 Cr at Mar 2026, against cash and equivalents of ₹831 Cr.

What is the free cash flow of FORCE MOTORS?

Cash from operations was ₹1,297 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹764 Cr.

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