Force Motors Limited (FORCEMOT) AI Stock Analysis

• Market Cap: ₹239.65B
• Dividend Yield: 0.22%
• Average Volume (3M): 10.30K
• Price to Earnings (P/E): 27.8
• Beta (1Y): 1.05
• Revenue Growth: 14.81%
• EPS Growth: 97.91%
• Country: IN
• Employees: 4,473
• Sector: Services
• Sector Strength: N/A
• Industry: Auto - Manufacturers
• EPS (TTM): 133.82
• Shares Outstanding: 13,176,262
• 10 Day Avg. Volume: 9,591
• 30 Day Avg. Volume: 10,297
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹21,100.00
• Price Target Upside: 16.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 70 Outperform
• Price Target: ₹21,100.00 ▲(16.33% Upside)

Force Motors Limited demonstrates strong financial performance with significant improvements in profitability and cash flow. However, technical analysis indicates a potential overbought scenario, and valuation metrics suggest moderate attractiveness, impacting the overall score.

Force Motors Limited Business Overview & Revenue Model

Company Description

Force Motors Limited, an integrated automobile company, designs, develops, manufactures, and sells a range of automotive components, aggregates, and vehicles in India. It provides light commercial vehicles, including passenger carriers, school buses, ambulances, and goods carriers; multi-utility vehicles; small commercial vehicles; special vehicles; and agricultural tractors. The company sells its products under the Traveller Monobus, Traveller, TRAX, Gurkha, Balwan, and Kargo King brands. It also 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 is a subsidiary of Jaya Hind Industries Private Limited.

How the Company Makes Money

Force Motors Limited generates revenue primarily through the manufacturing and sale of its automotive products. The company's key revenue streams include the production and sale of commercial vehicles like vans, buses, and trucks, as well as utility vehicles and tractors. Additionally, Force Motors earns income by supplying engines and axles to other automotive companies. The company may also benefit from strategic partnerships and collaborations with other automotive firms, enhancing its product line and market reach. Factors such as innovation in vehicle design, expansion into new markets, and maintaining a strong distribution network contribute to its financial performance.

Force Motors Limited Financial Statement Overview

Summary

Force Motors Limited exhibits strong financial performance with significant improvements in revenue, profitability, and cash flow. The income statement shows a robust gross profit margin and a turnaround in net profit margin. The balance sheet is stable with a strong equity base and low leverage. Cash flow dynamics are positive, indicating efficient capital management.

Income Statement

Force Motors Limited has demonstrated a strong financial performance with substantial improvements in revenue and profitability over the years. The Gross Profit Margin is robust at 27.8% for the latest year, indicating effective cost management. The Net Profit Margin improved significantly to 9.9% from previous losses, showcasing a turnaround in profitability. Revenue Growth Rate stood at 15.4%, driven by increased sales volume and market demand. Both EBIT and EBITDA margins have improved to 20.4% and 14.2% respectively, reflecting operational efficiency and profitability.

Balance Sheet

The balance sheet of Force Motors Limited shows a stable financial position with a healthy Equity Ratio of 59.1%, indicating a strong equity base. The Debt-to-Equity Ratio is low at 0.01, reflecting prudent financial leverage. Return on Equity (ROE) has improved remarkably to 26.4%, driven by higher net income. However, the company needs to maintain careful management of its liabilities to sustain this growth trajectory.

Cash Flow

Force Motors Limited has shown positive cash flow dynamics, with a Free Cash Flow growth of 63.9% indicating strong cash generation capabilities. The Operating Cash Flow to Net Income Ratio of 1.21 signifies efficient conversion of income into cash. The Free Cash Flow to Net Income Ratio is robust at 0.75, reflecting effective capital expenditure management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	80.72B	80.72B	69.92B	50.29B	32.07B	19.88B
Gross Profit	18.09B	22.42B	19.16B	11.09B	115.20M	4.13B
EBITDA	11.47B	11.49B	9.33B	6.00B	1.19B	375.30M
Net Income	8.01B	8.01B	3.88B	1.34B	-910.80M	-1.24B
Balance Sheet
Total Assets	51.34B	51.34B	44.15B	40.13B	36.61B	32.38B
Cash, Cash Equivalents and Short-Term Investments	5.07B	5.07B	4.48B	1.40B	721.00M	347.20M
Total Debt	174.30M	174.30M	5.25B	9.55B	10.69B	6.42B
Total Liabilities	20.98B	20.98B	21.57B	21.36B	19.11B	13.98B
Stockholders Equity	30.33B	30.33B	22.55B	18.75B	17.48B	18.38B
Cash Flow
Free Cash Flow	0.00	6.05B	8.06B	2.72B	-3.89B	-4.46B
Operating Cash Flow	0.00	9.71B	10.14B	5.32B	179.20M	73.40M
Investing Cash Flow	0.00	-3.51B	-1.98B	-2.56B	-3.56B	-3.33B
Financing Cash Flow	0.00	-5.62B	-5.09B	-2.07B	3.75B	2.93B

Force Motors Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 18137.75
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FORCEMOT, the sentiment is Neutral. The current price of 18137.75 is below the 20-day moving average (MA) of 18735.73, below the 50-day MA of 18467.14, and above the 200-day MA of 11430.19, indicating a neutral trend. The MACD of 4.10 indicates Positive momentum. The RSI at 46.18 is Neutral, neither overbought nor oversold. The STOCH value of 27.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:FORCEMOT.

Force Motors Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCIEXP	77 Outperform	27.66B	33.31	11.23%	1.05%	-3.21%	-31.89%
TCI	70 Outperform	89.36B	20.92	19.48%	0.86%	11.32%	20.27%
FORCEMOT	70 Outperform	₹239.65B	27.82		0.22%	14.81%	97.91%
OLECTRA	68 Neutral	136.43B	96.81	13.24%	0.02%	46.57%	70.29%
WELENT	61 Neutral	75.75B	23.83	12.70%	0.55%	14.32%	4.35%
DELHIVERY	61 Neutral	349.72B	171.93	1.72%	―	7.99%	0.00%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%