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Force Motors Limited
(FORCEMOT)
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Rating:74Outperform
Price Target:
₹18,658.00
▲(5.85% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial performance—especially the materially strengthened balance sheet and improved profitability—tempered by margin compression and uneven cash-flow conversion. Technicals are mixed (short-term strength but longer-term trend and MACD remain negative). Valuation is reasonable, but the dividend yield provides minimal support.
Positive Factors
Revenue Scale
The substantial multi-year expansion in revenue shows that Force Motors has materially increased its operating scale and market reach. A larger revenue base can support stronger customer relationships, more efficient operations, and greater capacity to sustain investment across its vehicle and component businesses.
Negative Factors
Gross-Margin Compression
The sharp decline in gross margin indicates that recent profitability may face pressure from mix, pricing, or cost factors identified in the financial review. If the lower margin persists, it could limit operating leverage and reduce the benefit of continued revenue growth on future earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scale
The substantial multi-year expansion in revenue shows that Force Motors has materially increased its operating scale and market reach. A larger revenue base can support stronger customer relationships, more efficient operations, and greater capacity to sustain investment across its vehicle and component businesses.
Read all positive factors
Force Motors Limited (FORCEMOT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹232.96B
Dividend Yield0.3%
Average Volume (3M)4.05K
Price to Earnings (P/E)17.8
Beta (1Y)1.54
Revenue Growth8.44%
EPS Growth45.33%
CountryIN
Employees4,473
SectorGeneral
Sector StrengthN/A
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)950.08
Shares Outstanding13,176,262
10 Day Avg. Volume2,620
30 Day Avg. Volume4,050
Financial Highlights & Ratios
PEG Ratio0.41
Price to Book (P/B)6.10
Price to Sales (P/S)2.82
P/FCF Ratio32.34
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Force Motors Limited Business Overview & Revenue Model
Company Description
Force Motors Limited is an integrated Indian automotive enterprise involved in the entire process of conceiving, engineering, manufacturing, and distributing a wide spectrum of vehicle components, sub-assemblies, and complete automobiles. Its prod...
Force Motors Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 92.00B | 90.57B | 80.72B | 69.92B | 50.29B | 32.40B |
| Gross Profit | 23.67B | 18.25B | 22.02B | 19.16B | 11.40B | 6.80B |
| EBITDA | 18.24B | 18.05B | 11.25B | 9.33B | 4.02B | 963.80M |
| Net Income | 12.52B | 12.12B | 8.01B | 3.88B | 1.34B | -910.80M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 65.38B | 51.34B | 44.15B | 40.13B | 36.61B |
| Cash, Cash Equivalents and Short-Term Investments | 8.32B | 8.32B | 5.07B | 4.48B | 1.40B | 721.00M |
| Total Debt | 0.00 | 0.00 | 174.30M | 5.25B | 9.55B | 10.69B |
| Total Liabilities | -41.97B | 23.41B | 20.98B | 21.57B | 21.36B | 19.11B |
| Stockholders Equity | 41.97B | 41.94B | 30.33B | 22.55B | 18.75B | 17.48B |
Cash Flow | ||||||
| Free Cash Flow | 479.60M | 7.91B | 6.05B | 8.06B | 2.72B | -3.89B |
| Operating Cash Flow | 2.70B | 13.30B | 9.71B | 10.14B | 5.32B | 184.20M |
| Investing Cash Flow | -2.02B | -9.36B | -3.51B | -1.98B | -2.56B | -3.56B |
| Financing Cash Flow | -1.71B | -701.30M | -5.62B | -5.09B | -2.07B | 3.75B |
Force Motors Limited Technical Analysis
Negative
17627.10
Price Trends
17488.44
Negative
17775.36
Negative
19454.04
Negative
Market Momentum
-89.15
Negative
40.40
Neutral
37.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FORCEMOT, the sentiment is Negative. The current price of 17627.1 is above the 20-day moving average (MA) of 17093.33, above the 50-day MA of 17488.44, and below the 200-day MA of 19454.04, indicating a bearish trend. The MACD of -89.15 indicates Negative momentum. The RSI at 40.40 is Neutral, neither overbought nor oversold. The STOCH value of 37.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:FORCEMOT.
Force Motors Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ₹2.02T | 34.08 | ― | 1.05% | 28.07% | 19.24% | |
74 Outperform | ₹232.96B | 17.77 | ― | 0.30% | 8.44% | 45.33% | |
68 Neutral | ₹1.54T | 36.69 | ― | 0.96% | ― | ― | |
63 Neutral | ₹3.61T | 17.48 | ― | 3.60% | 25.93% | 34.37% | |
62 Neutral | ₹88.68B | 54.14 | ― | 0.43% | 22.37% | 3.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹85.70B | 46.58 | ― | 0.06% | 38.43% | 25.90% |
* General Sector Average
IN:FORCEMOT
Force Motors Limited
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Force Motors Limited Corporate Events
Force Motors Sets Board Meet for Q2 Results, Closes Insider Trading Window
Oct 21, 2026
Force Motors Limited has scheduled a board meeting on 28 October 2026 to consider and approve its unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The board will also take on record the...
Force Motors Sets September AGM, Publishes FY 2025-26 Report for Shareholders
Aug 25, 2026
Force Motors Limited has scheduled its 67th Annual General Meeting for September 16, 2026 and has circulated the AGM notice together with the Annual Report for the financial year 2025-26 to shareholders via electronic mode. The company has also ma...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.