Force Motors Ltd.
•₹ 17,770-0.64%
2026-08-21
PROS
- Company has delivered good profit growth of 68.9% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 26.2%
- Operating margins have improved to 13.5% from 3.7%
- Company has delivered good sales growth of 21.2% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.86x)
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | TMCV | 477.55 | 41.96 | 175867.35 | 0.84 | 25560.00 | 1729.63 | 206670.00 | 1092.97 | 31.55 | 15.95 |
| 2. | ASHOKLEY | 173.10 | 29.25 | 101676.42 | 2.02 | 6677.70 | 915.28 | 130695.90 | 1021.21 | 14.10 | 18.49 |
| 3. | FORCEMOT | 17850.00 | 18.79 | 23519.63 | 0.28 | 216.59 | 22.81 | 2440.01 | 6.21 | 43.36 | 13.63 |
| 4. | OLECTRA | 1291.90 | 59.77 | 10604.01 | 0.05 | 26.66 | 2.44 | 575.51 | 65.75 | 20.45 | 12.29 |
| 5. | SMLMAH | 5165.10 | 0.00 | 7474.75 | 0.46 | 63.62 | -4.99 | 957.54 | 13.20 | 31.21 | 10.45 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,487 | 1,802 | 1,692 | 2,011 | 1,885 | 1,941 | 1,889 | 2,356 | 2,297 | 2,081 | 2,128 | 2,550 | 2,440 | |
| 1,307 | 1,577 | 1,467 | 1,733 | 1,636 | 1,659 | 1,658 | 2,027 | 1,965 | 1,719 | 1,755 | 2,136 | 2,189 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 11 | 9 | 4 | 15 | 15 | 9 | 15 | 18 | 25 | 24 | 27 | 34 | 38 |
| Interest | 18 | 16 | 14 | 14 | 9 | 5 | 4 | 7 | 0 | 0 | 0 | 3 | 0 |
| Depreciation | 63 | 67 | 68 | 68 | 69 | 69 | 71 | 72 | 70 | 71 | 73 | 72 | 77 |
| 111 | 151 | 146 | 211 | 186 | 217 | 172 | 663 | 287 | 316 | 539 | 373 | 289 | |
| Tax % | 34.93% | 34.97% | 35.08% | 35.14% | 35.59% | 35.19% | 35.95% | 35.17% | 35.36% | -10.62% | 25.30% | 26.69% | 26.58% |
| Net Profit | 72 | 98 | 95 | 137 | 120 | 141 | 110 | 430 | 185 | 350 | 403 | 274 | 212 |
| 55 | 75 | 72 | 104 | 91 | 107 | 84 | 326 | 141 | 265 | 306 | 208 | 16 | |
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 1,487
- 1,307
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 18
- Depreciation
- 63
- 111
- Tax %
- 34.93%
- Net Profit
- 72
- 55
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 1,802
- 1,577
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 16
- Depreciation
- 67
- 151
- Tax %
- 34.97%
- Net Profit
- 98
- 75
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 1,692
- 1,467
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 14
- Depreciation
- 68
- 146
- Tax %
- 35.08%
- Net Profit
- 95
- 72
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 2,011
- 1,733
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 14
- Depreciation
- 68
- 211
- Tax %
- 35.14%
- Net Profit
- 137
- 104
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 1,885
- 1,636
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 9
- Depreciation
- 69
- 186
- Tax %
- 35.59%
- Net Profit
- 120
- 91
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,941
- 1,659
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 5
- Depreciation
- 69
- 217
- Tax %
- 35.19%
- Net Profit
- 141
- 107
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,889
- 1,658
- Operating Profit
- —
- OPM %
- —
- Other Income
- 15
- Interest
- 4
- Depreciation
- 71
- 172
- Tax %
- 35.95%
- Net Profit
- 110
- 84
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 2,356
- 2,027
- Operating Profit
- —
- OPM %
- —
- Other Income
- 18
- Interest
- 7
- Depreciation
- 72
- 663
- Tax %
- 35.17%
- Net Profit
- 430
- 326
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 2,297
- 1,965
- Operating Profit
- —
- OPM %
- —
- Other Income
- 25
- Interest
- 0
- Depreciation
- 70
- 287
- Tax %
- 35.36%
- Net Profit
- 185
- 141
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 2,081
- 1,719
- Operating Profit
- —
- OPM %
- —
- Other Income
- 24
- Interest
- 0
- Depreciation
- 71
- 316
- Tax %
- -10.62%
- Net Profit
- 350
- 265
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 2,128
- 1,755
- Operating Profit
- —
- OPM %
- —
- Other Income
- 27
- Interest
- 0
- Depreciation
- 73
- 539
- Tax %
- 25.30%
- Net Profit
- 403
- 306
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 2,550
- 2,136
- Operating Profit
- —
- OPM %
- —
- Other Income
- 34
- Interest
- 3
- Depreciation
- 72
- 373
- Tax %
- 26.69%
- Net Profit
- 274
- 208
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 2,440
- 2,189
- Operating Profit
- —
- OPM %
- —
- Other Income
- 38
- Interest
- 0
- Depreciation
- 77
- 289
- Tax %
- 26.58%
- Net Profit
- 212
- 16
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,025 | 3,069 | 3,423 | 3,652 | 3,080 | 1,988 | 3,240 | 5,029 | 6,992 | 8,071 | 9,199 | |
| 2,751 | 2,801 | 3,155 | 3,374 | 2,812 | 1,975 | 3,173 | 4,699 | 6,083 | 6,979 | 7,798 | |
| Operating Profit | 345 | 353 | 336 | 360 | 311 | 38 | 119 | 391 | 947 | 1,149 | — |
| OPM % | 11 | 11 | 10 | 10 | 10 | 2 | 4 | 8 | 14 | 14 | — |
| Other Income | 71 | 85 | 69 | 82 | 43 | 25 | 52 | 62 | 39 | 57 | 123 |
| Interest | 5 | 6 | 7 | 15 | 28 | 28 | 41 | 68 | 62 | 26 | 3 |
| Depreciation | 92 | 113 | 129 | 151 | 195 | 174 | 191 | 241 | 267 | 280 | 293 |
| 248 | 235 | 200 | 194 | 50 | -164 | -113 | 291 | 618 | 1,237 | 1,517 | |
| Tax % | 28 | 23 | 27 | 24 | -17 | 32 | 34 | 48 | 35 | 35 | 18 |
| Net Profit | 179 | 180 | 147 | 147 | 58 | -112 | -75 | 152 | 402 | 800 | 1,238 |
| EPS | 136 | 137 | 112 | 112 | 44 | -85 | -57 | 115 | 305 | 607 | — |
| Dividend Payout % | 7 | 7 | 9 | 9 | 23 | -6 | -18 | 9 | 7 | 7 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 136 | 137 | 111 | 112 | 44 | -85 | -57 | 115 | 305 | 607 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 136 | 137 | 111 | 112 | 44 | -85 | -57 | 115 | 305 | 607 | — |
Mar 2016
- 3,025
- 2,751
- Operating Profit
- 345
- OPM %
- 11
- Other Income
- 71
- Interest
- 5
- Depreciation
- 92
- 248
- Tax %
- 28
- Net Profit
- 179
- EPS
- 136
- Dividend Payout %
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 136
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 136
Mar 2017
- 3,069
- 2,801
- Operating Profit
- 353
- OPM %
- 11
- Other Income
- 85
- Interest
- 6
- Depreciation
- 113
- 235
- Tax %
- 23
- Net Profit
- 180
- EPS
- 137
- Dividend Payout %
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 137
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 137
Mar 2018
- 3,423
- 3,155
- Operating Profit
- 336
- OPM %
- 10
- Other Income
- 69
- Interest
- 7
- Depreciation
- 129
- 200
- Tax %
- 27
- Net Profit
- 147
- EPS
- 112
- Dividend Payout %
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 111
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 111
Mar 2019
- 3,652
- 3,374
- Operating Profit
- 360
- OPM %
- 10
- Other Income
- 82
- Interest
- 15
- Depreciation
- 151
- 194
- Tax %
- 24
- Net Profit
- 147
- EPS
- 112
- Dividend Payout %
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 112
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 112
Mar 2020
- 3,080
- 2,812
- Operating Profit
- 311
- OPM %
- 10
- Other Income
- 43
- Interest
- 28
- Depreciation
- 195
- 50
- Tax %
- -17
- Net Profit
- 58
- EPS
- 44
- Dividend Payout %
- 23
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 44
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 44
Mar 2021
- 1,988
- 1,975
- Operating Profit
- 38
- OPM %
- 2
- Other Income
- 25
- Interest
- 28
- Depreciation
- 174
- -164
- Tax %
- 32
- Net Profit
- -112
- EPS
- -85
- Dividend Payout %
- -6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -85
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -85
Mar 2022
- 3,240
- 3,173
- Operating Profit
- 119
- OPM %
- 4
- Other Income
- 52
- Interest
- 41
- Depreciation
- 191
- -113
- Tax %
- 34
- Net Profit
- -75
- EPS
- -57
- Dividend Payout %
- -18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -57
Mar 2023
- 5,029
- 4,699
- Operating Profit
- 391
- OPM %
- 8
- Other Income
- 62
- Interest
- 68
- Depreciation
- 241
- 291
- Tax %
- 48
- Net Profit
- 152
- EPS
- 115
- Dividend Payout %
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 115
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 115
Mar 2024
- 6,992
- 6,083
- Operating Profit
- 947
- OPM %
- 14
- Other Income
- 39
- Interest
- 62
- Depreciation
- 267
- 618
- Tax %
- 35
- Net Profit
- 402
- EPS
- 305
- Dividend Payout %
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 305
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 305
Mar 2025
- 8,071
- 6,979
- Operating Profit
- 1,149
- OPM %
- 14
- Other Income
- 57
- Interest
- 26
- Depreciation
- 280
- 1,237
- Tax %
- 35
- Net Profit
- 800
- EPS
- 607
- Dividend Payout %
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 607
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 607
TTM
- 9,199
- 7,798
- Operating Profit
- —
- OPM %
- —
- Other Income
- 123
- Interest
- 3
- Depreciation
- 293
- 1,517
- Tax %
- 18
- Net Profit
- 1,238
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 21%
- 3 Years:
- 36%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 23%
- 5 Years:
- 69%
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 68%
- 3 Years:
- 73%
- 1 Year:
- -19%
RETURN ON EQUITY
- 10 Years:
- 9%
- 5 Years:
- 9%
- 3 Years:
- 19%
- Last Year:
- 29%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| 1,474 | 1,652 | 1,786 | 1,922 | 1,963 | 1,847 | 1,774 | 1,919 | 2,313 | 3,090 | |
| 0 | 196 | 0 | 80 | 122 | 642 | 468 | 360 | 63 | 0 | |
| Trade Payables | 417 | 485 | 565 | 395 | 580 | 440 | 517 | 745 | 854 | 784 |
| 399 | 241 | 155 | 425 | 421 | 258 | 832 | 1,026 | 1,240 | 1,315 | |
| Total Liabilities | 2,304 | 2,589 | 2,519 | 2,836 | 3,099 | 3,201 | 3,604 | 4,063 | 4,483 | 5,202 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 786 | 905 | 942 | 1,210 | 1,395 | 1,218 | 2,028 | 2,087 | 2,025 | 1,962 | |
| Capital Work in Progress | 132 | 120 | 174 | 133 | 175 | 369 | 156 | 39 | 26 | 93 |
| 8 | 10 | 11 | 28 | 92 | 126 | 154 | 159 | 166 | 178 | |
| 548 | 438 | 477 | 504 | 552 | 558 | 637 | 827 | 1,163 | 1,184 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 104 | 174 | |
| Cash & Bank | 318 | 234 | 41 | 3 | 66 | 34 | 72 | 138 | 442 | 501 |
| 513 | 882 | 874 | 958 | 820 | 895 | 557 | 813 | 557 | 1,110 | |
| Total Assets | 2,304 | 2,589 | 2,519 | 2,836 | 3,099 | 3,201 | 3,604 | 4,063 | 4,483 | 5,202 |
| Total Debt | 14 | 200 | 0 | 286 | 310 | 642 | 1,069 | 955 | 524 | 17 |
| Net Working Capital | 502 | 483 | 439 | 433 | 111 | 3 | -262 | 50 | 403 | 848 |
| Contingent Liabilities | 96 | 92 | 69 | 65 | 113 | 113 | 118 | 111 | 107 | 118 |
| Book Value per Share | 1128.71 | 1263.59 | 1364.79 | 1468.03 | 1499.02 | 1411.59 | 1355.80 | 1466.20 | 1764.89 | 2354.80 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 14 | 200 | 0 | 286 | 310 | 642 | 1,069 | 955 | 524 | 17 |
| Net Working Capital | 502 | 483 | 439 | 433 | 111 | 3 | -262 | 50 | 403 | 848 |
| Contingent Liabilities | 96 | 92 | 69 | 65 | 113 | 113 | 118 | 111 | 107 | 118 |
| Book Value per Share | 1128.71 | 1263.59 | 1364.79 | 1468.03 | 1499.02 | 1411.59 | 1355.80 | 1466.20 | 1764.89 | 2354.80 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2016
- Equity Capital
- 13
- 1,474
- 0
- Trade Payables
- 417
- 399
- Total Liabilities
- 2,304
- 786
- Capital Work in Progress
- 132
- 8
- 548
- 0
- Cash & Bank
- 318
- 513
- Total Assets
- 2,304
- Total Debt
- 14
- Net Working Capital
- 502
- Contingent Liabilities
- 96
- Book Value per Share
- 1128.71
- Face Value
- 10.00
- Total Debt
- 14
- Net Working Capital
- 502
- Contingent Liabilities
- 96
- Book Value per Share
- 1128.71
- Face Value
- 10.00
Mar 2017
- Equity Capital
- 13
- 1,652
- 196
- Trade Payables
- 485
- 241
- Total Liabilities
- 2,589
- 905
- Capital Work in Progress
- 120
- 10
- 438
- 0
- Cash & Bank
- 234
- 882
- Total Assets
- 2,589
- Total Debt
- 200
- Net Working Capital
- 483
- Contingent Liabilities
- 92
- Book Value per Share
- 1263.59
- Face Value
- 10.00
- Total Debt
- 200
- Net Working Capital
- 483
- Contingent Liabilities
- 92
- Book Value per Share
- 1263.59
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 13
- 1,786
- 0
- Trade Payables
- 565
- 155
- Total Liabilities
- 2,519
- 942
- Capital Work in Progress
- 174
- 11
- 477
- 0
- Cash & Bank
- 41
- 874
- Total Assets
- 2,519
- Total Debt
- 0
- Net Working Capital
- 439
- Contingent Liabilities
- 69
- Book Value per Share
- 1364.79
- Face Value
- 10.00
- Total Debt
- 0
- Net Working Capital
- 439
- Contingent Liabilities
- 69
- Book Value per Share
- 1364.79
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 13
- 1,922
- 80
- Trade Payables
- 395
- 425
- Total Liabilities
- 2,836
- 1,210
- Capital Work in Progress
- 133
- 28
- 504
- 0
- Cash & Bank
- 3
- 958
- Total Assets
- 2,836
- Total Debt
- 286
- Net Working Capital
- 433
- Contingent Liabilities
- 65
- Book Value per Share
- 1468.03
- Face Value
- 10.00
- Total Debt
- 286
- Net Working Capital
- 433
- Contingent Liabilities
- 65
- Book Value per Share
- 1468.03
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 13
- 1,963
- 122
- Trade Payables
- 580
- 421
- Total Liabilities
- 3,099
- 1,395
- Capital Work in Progress
- 175
- 92
- 552
- 0
- Cash & Bank
- 66
- 820
- Total Assets
- 3,099
- Total Debt
- 310
- Net Working Capital
- 111
- Contingent Liabilities
- 113
- Book Value per Share
- 1499.02
- Face Value
- 10.00
- Total Debt
- 310
- Net Working Capital
- 111
- Contingent Liabilities
- 113
- Book Value per Share
- 1499.02
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 13
- 1,847
- 642
- Trade Payables
- 440
- 258
- Total Liabilities
- 3,201
- 1,218
- Capital Work in Progress
- 369
- 126
- 558
- 0
- Cash & Bank
- 34
- 895
- Total Assets
- 3,201
- Total Debt
- 642
- Net Working Capital
- 3
- Contingent Liabilities
- 113
- Book Value per Share
- 1411.59
- Face Value
- 10.00
- Total Debt
- 642
- Net Working Capital
- 3
- Contingent Liabilities
- 113
- Book Value per Share
- 1411.59
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 13
- 1,774
- 468
- Trade Payables
- 517
- 832
- Total Liabilities
- 3,604
- 2,028
- Capital Work in Progress
- 156
- 154
- 637
- 0
- Cash & Bank
- 72
- 557
- Total Assets
- 3,604
- Total Debt
- 1,069
- Net Working Capital
- -262
- Contingent Liabilities
- 118
- Book Value per Share
- 1355.80
- Face Value
- 10.00
- Total Debt
- 1,069
- Net Working Capital
- -262
- Contingent Liabilities
- 118
- Book Value per Share
- 1355.80
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 13
- 1,919
- 360
- Trade Payables
- 745
- 1,026
- Total Liabilities
- 4,063
- 2,087
- Capital Work in Progress
- 39
- 159
- 827
- 0
- Cash & Bank
- 138
- 813
- Total Assets
- 4,063
- Total Debt
- 955
- Net Working Capital
- 50
- Contingent Liabilities
- 111
- Book Value per Share
- 1466.20
- Face Value
- 10.00
- Total Debt
- 955
- Net Working Capital
- 50
- Contingent Liabilities
- 111
- Book Value per Share
- 1466.20
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 13
- 2,313
- 63
- Trade Payables
- 854
- 1,240
- Total Liabilities
- 4,483
- 2,025
- Capital Work in Progress
- 26
- 166
- 1,163
- 104
- Cash & Bank
- 442
- 557
- Total Assets
- 4,483
- Total Debt
- 524
- Net Working Capital
- 403
- Contingent Liabilities
- 107
- Book Value per Share
- 1764.89
- Face Value
- 10.00
- Total Debt
- 524
- Net Working Capital
- 403
- Contingent Liabilities
- 107
- Book Value per Share
- 1764.89
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 13
- 3,090
- 0
- Trade Payables
- 784
- 1,315
- Total Liabilities
- 5,202
- 1,962
- Capital Work in Progress
- 93
- 178
- 1,184
- 174
- Cash & Bank
- 501
- 1,110
- Total Assets
- 5,202
- Total Debt
- 17
- Net Working Capital
- 848
- Contingent Liabilities
- 118
- Book Value per Share
- 2354.80
- Face Value
- 10.00
- Total Debt
- 17
- Net Working Capital
- 848
- Contingent Liabilities
- 118
- Book Value per Share
- 2354.80
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 256 | 471 | 256 | 312 | 409 | 7 | 18 | 531 | 1,011 | 971 | |
| Cash from Investing | -210 | -621 | -81 | -606 | -327 | -333 | -356 | -256 | -198 | -351 |
| Cash from Financing | -37 | 180 | -223 | 256 | -20 | 293 | 375 | -207 | -509 | -562 |
| 9 | 30 | -47 | -37 | 62 | -32 | 37 | 68 | 304 | 58 | |
| Free Cash Flow | 63 | 252 | 87 | -62 | -10 | -116 | -761 | 355 | 825 | 723 |
| OCF / Net Profit | 1.43 | 2.62 | 1.75 | 2.12 | 7.03 | -0.06 | -0.24 | 3.50 | 2.52 | 1.21 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 330 | 151 | -862 | -594 | 293 | 1,026 |
| OCF / Net Profit | 1.43 | 2.62 | 1.75 | 2.12 | 7.03 | -0.06 | -0.24 | 3.50 | 2.52 | 1.21 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 330 | 151 | -862 | -594 | 293 | 1,026 |
Mar 2016
- 256
- Cash from Investing
- -210
- Cash from Financing
- -37
- 9
- Free Cash Flow
- 63
- OCF / Net Profit
- 1.43
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.43
- Cumulative 5-Year FCF
- 0
Mar 2017
- 471
- Cash from Investing
- -621
- Cash from Financing
- 180
- 30
- Free Cash Flow
- 252
- OCF / Net Profit
- 2.62
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.62
- Cumulative 5-Year FCF
- 0
Mar 2018
- 256
- Cash from Investing
- -81
- Cash from Financing
- -223
- -47
- Free Cash Flow
- 87
- OCF / Net Profit
- 1.75
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.75
- Cumulative 5-Year FCF
- 0
Mar 2019
- 312
- Cash from Investing
- -606
- Cash from Financing
- 256
- -37
- Free Cash Flow
- -62
- OCF / Net Profit
- 2.12
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.12
- Cumulative 5-Year FCF
- 0
Mar 2020
- 409
- Cash from Investing
- -327
- Cash from Financing
- -20
- 62
- Free Cash Flow
- -10
- OCF / Net Profit
- 7.03
- Cumulative 5-Year FCF
- 330
- OCF / Net Profit
- 7.03
- Cumulative 5-Year FCF
- 330
Mar 2021
- 7
- Cash from Investing
- -333
- Cash from Financing
- 293
- -32
- Free Cash Flow
- -116
- OCF / Net Profit
- -0.06
- Cumulative 5-Year FCF
- 151
- OCF / Net Profit
- -0.06
- Cumulative 5-Year FCF
- 151
Mar 2022
- 18
- Cash from Investing
- -356
- Cash from Financing
- 375
- 37
- Free Cash Flow
- -761
- OCF / Net Profit
- -0.24
- Cumulative 5-Year FCF
- -862
- OCF / Net Profit
- -0.24
- Cumulative 5-Year FCF
- -862
Mar 2023
- 531
- Cash from Investing
- -256
- Cash from Financing
- -207
- 68
- Free Cash Flow
- 355
- OCF / Net Profit
- 3.50
- Cumulative 5-Year FCF
- -594
- OCF / Net Profit
- 3.50
- Cumulative 5-Year FCF
- -594
Mar 2024
- 1,011
- Cash from Investing
- -198
- Cash from Financing
- -509
- 304
- Free Cash Flow
- 825
- OCF / Net Profit
- 2.52
- Cumulative 5-Year FCF
- 293
- OCF / Net Profit
- 2.52
- Cumulative 5-Year FCF
- 293
Mar 2025
- 971
- Cash from Investing
- -351
- Cash from Financing
- -562
- 58
- Free Cash Flow
- 723
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 1,026
- OCF / Net Profit
- 1.21
- Cumulative 5-Year FCF
- 1,026
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 135.61 | 136.51 | 111.49 | 111.67 | 44.15 | -84.87 | -56.60 | 115.36 | 304.77 | 606.96 |
| Book Value (₹) | 1128.71 | 1263.59 | 1364.79 | 1468.03 | 1499.02 | 1411.59 | 1355.80 | 1466.20 | 1764.89 | 2354.80 |
| Dividend per Share (₹) | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 5.00 | 10.00 | 10.00 | 20.00 | 40.00 |
| Cash EPS (₹) | 205.33 | 222.31 | 209.57 | 226.18 | 191.74 | 46.90 | 88.27 | 298.02 | 507.16 | 819.58 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 10.01% | 10.09% | 9.54% | 9.86% | 10.11% | 1.89% | 3.66% | 7.78% | 12.99% | 13.53% |
| Net Margin % | 5.18% | 5.15% | 4.17% | 4.03% | 1.89% | -5.63% | -2.30% | 3.02% | 5.75% | 9.91% |
| ROE % | 12.75% | 11.41% | 8.48% | 7.88% | 2.98% | -5.83% | -4.09% | 8.18% | 18.86% | 29.47% |
| ROCE % | 17.86% | 14.29% | 11.29% | 10.41% | 3.45% | -5.68% | -2.70% | 12.50% | 23.72% | 42.30% |
| 8.27% | 7.35% | 5.75% | 5.50% | 1.96% | -3.55% | -2.19% | 3.97% | 9.40% | 16.52% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 14 | 14 | 18 | 20 | 20 | 27 | 18 | 14 | 8 | 6 |
| Inventory Days | 50 | 51 | 47 | 49 | 63 | 102 | 67 | 53 | 52 | 53 |
| Payable Days | 68 | 75 | 75 | 63 | 80 | 125 | 67 | 59 | 57 | 50 |
| -5 | -9 | -9 | 6 | 2 | 4 | 18 | 8 | 3 | 9 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.01x | 0.12x | 0.00x | 0.15x | 0.16x | 0.35x | 0.60x | 0.49x | 0.23x | 0.01x |
| Interest Coverage (x) | 47.84x | 43.42x | 31.02x | 13.64x | 2.79x | -4.82x | -1.76x | 5.25x | 10.95x | 48.83x |
| 1.70x | 1.54x | 1.64x | 1.66x | 1.12x | 1.00x | 0.80x | 1.03x | 1.25x | 1.49x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 27.96% | 1.47% | 11.52% | 6.71% | -15.66% | -35.46% | 62.99% | 55.20% | 39.04% | 15.44% |
| Operating Profit Growth % | 62.35% | 2.09% | -4.68% | 7.11% | -13.55% | -87.91% | 215.34% | 229.98% | 142.00% | 21.27% |
| Net Profit Growth % | 76.34% | 0.66% | -18.32% | 0.16% | -60.46% | -292.23% | 33.31% | 303.82% | 164.18% | 99.15% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 164.18% | 99.15% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 23.77x | 14.90x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.10x | 3.84x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.28% | 0.44% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 10.16x | 9.96x |
Mar 2016
- EPS (₹)
- 135.61
- Book Value (₹)
- 1128.71
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 205.33
- Operating Margin %
- 10.01%
- Net Margin %
- 5.18%
- ROE %
- 12.75%
- ROCE %
- 17.86%
- 8.27%
- Debtor Days
- 14
- Inventory Days
- 50
- Payable Days
- 68
- -5
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 47.84x
- 1.70x
- Revenue Growth %
- 27.96%
- Operating Profit Growth %
- 62.35%
- Net Profit Growth %
- 76.34%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- 136.51
- Book Value (₹)
- 1263.59
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 222.31
- Operating Margin %
- 10.09%
- Net Margin %
- 5.15%
- ROE %
- 11.41%
- ROCE %
- 14.29%
- 7.35%
- Debtor Days
- 14
- Inventory Days
- 51
- Payable Days
- 75
- -9
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- 43.42x
- 1.54x
- Revenue Growth %
- 1.47%
- Operating Profit Growth %
- 2.09%
- Net Profit Growth %
- 0.66%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 111.49
- Book Value (₹)
- 1364.79
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 209.57
- Operating Margin %
- 9.54%
- Net Margin %
- 4.17%
- ROE %
- 8.48%
- ROCE %
- 11.29%
- 5.75%
- Debtor Days
- 18
- Inventory Days
- 47
- Payable Days
- 75
- -9
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 31.02x
- 1.64x
- Revenue Growth %
- 11.52%
- Operating Profit Growth %
- -4.68%
- Net Profit Growth %
- -18.32%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 111.67
- Book Value (₹)
- 1468.03
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 226.18
- Operating Margin %
- 9.86%
- Net Margin %
- 4.03%
- ROE %
- 7.88%
- ROCE %
- 10.41%
- 5.50%
- Debtor Days
- 20
- Inventory Days
- 49
- Payable Days
- 63
- 6
- Debt to Equity (x)
- 0.15x
- Interest Coverage (x)
- 13.64x
- 1.66x
- Revenue Growth %
- 6.71%
- Operating Profit Growth %
- 7.11%
- Net Profit Growth %
- 0.16%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 44.15
- Book Value (₹)
- 1499.02
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 191.74
- Operating Margin %
- 10.11%
- Net Margin %
- 1.89%
- ROE %
- 2.98%
- ROCE %
- 3.45%
- 1.96%
- Debtor Days
- 20
- Inventory Days
- 63
- Payable Days
- 80
- 2
- Debt to Equity (x)
- 0.16x
- Interest Coverage (x)
- 2.79x
- 1.12x
- Revenue Growth %
- -15.66%
- Operating Profit Growth %
- -13.55%
- Net Profit Growth %
- -60.46%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- -84.87
- Book Value (₹)
- 1411.59
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 46.90
- Operating Margin %
- 1.89%
- Net Margin %
- -5.63%
- ROE %
- -5.83%
- ROCE %
- -5.68%
- -3.55%
- Debtor Days
- 27
- Inventory Days
- 102
- Payable Days
- 125
- 4
- Debt to Equity (x)
- 0.35x
- Interest Coverage (x)
- -4.82x
- 1.00x
- Revenue Growth %
- -35.46%
- Operating Profit Growth %
- -87.91%
- Net Profit Growth %
- -292.23%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- -56.60
- Book Value (₹)
- 1355.80
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 88.27
- Operating Margin %
- 3.66%
- Net Margin %
- -2.30%
- ROE %
- -4.09%
- ROCE %
- -2.70%
- -2.19%
- Debtor Days
- 18
- Inventory Days
- 67
- Payable Days
- 67
- 18
- Debt to Equity (x)
- 0.60x
- Interest Coverage (x)
- -1.76x
- 0.80x
- Revenue Growth %
- 62.99%
- Operating Profit Growth %
- 215.34%
- Net Profit Growth %
- 33.31%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 115.36
- Book Value (₹)
- 1466.20
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 298.02
- Operating Margin %
- 7.78%
- Net Margin %
- 3.02%
- ROE %
- 8.18%
- ROCE %
- 12.50%
- 3.97%
- Debtor Days
- 14
- Inventory Days
- 53
- Payable Days
- 59
- 8
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 5.25x
- 1.03x
- Revenue Growth %
- 55.20%
- Operating Profit Growth %
- 229.98%
- Net Profit Growth %
- 303.82%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 304.77
- Book Value (₹)
- 1764.89
- Dividend per Share (₹)
- 20.00
- Cash EPS (₹)
- 507.16
- Operating Margin %
- 12.99%
- Net Margin %
- 5.75%
- ROE %
- 18.86%
- ROCE %
- 23.72%
- 9.40%
- Debtor Days
- 8
- Inventory Days
- 52
- Payable Days
- 57
- 3
- Debt to Equity (x)
- 0.23x
- Interest Coverage (x)
- 10.95x
- 1.25x
- Revenue Growth %
- 39.04%
- Operating Profit Growth %
- 142.00%
- Net Profit Growth %
- 164.18%
- 164.18%
- P/E (x)
- 23.77x
- P/B (x)
- 4.10x
- Dividend Yield %
- 0.28%
- 10.16x
Mar 2025
- EPS (₹)
- 606.96
- Book Value (₹)
- 2354.80
- Dividend per Share (₹)
- 40.00
- Cash EPS (₹)
- 819.58
- Operating Margin %
- 13.53%
- Net Margin %
- 9.91%
- ROE %
- 29.47%
- ROCE %
- 42.30%
- 16.52%
- Debtor Days
- 6
- Inventory Days
- 53
- Payable Days
- 50
- 9
- Debt to Equity (x)
- 0.01x
- Interest Coverage (x)
- 48.83x
- 1.49x
- Revenue Growth %
- 15.44%
- Operating Profit Growth %
- 21.27%
- Net Profit Growth %
- 99.15%
- 99.15%
- P/E (x)
- 14.90x
- P/B (x)
- 3.84x
- Dividend Yield %
- 0.44%
- 9.96x
Documents
Announcements
- General Updates
2026-08-07 - 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.
- Monthly Business Updates
2026-08-03 - FORCE MOTORS LTD has informed the Exchange regarding Monthly Business Updates for the month of July 2026
Annual Reports
Credit Ratings
- Credit Rating
2025-07-26 - FORCE MOTORS LTD has informed the Exchange about Credit Rating