Force Motors Ltd (FORCEMOT) — shareholding pattern, promoter holding, financials and share price
About Force Motors Ltd (FORCEMOT)
Force Motors Ltd operates in the Passenger Cars & Utility Vehicles industry, within the Automobile and Auto Components sector. It trades on the NSE as FORCEMOT and on the BSE under scrip code 500033. Its ISIN is INE451A01017.
Force Motors Ltd was established in 1958, is the flagship company of the Abhay Firodia group. The company is in the business of manufacturing fully vertically integrated small and light CVs, multi-utility vehicles, and agricultural tractors, which it supplies to various countries in the Middle East, Asia, Latin America, and Africa. It was known as Bajaj Tempo till 2005 [1]
Force Motors Limited is a vertically integrated Indian automotive company designing, developing and manufacturing vehicles (LCV, MUV, monocoque buses, multi‑utility and defence vehicles) and high‑tech aggregates and components for global OEMs, including long-term manufacturing for BMW, Mercedes and a majority-owned JV with Rolls‑Royce (Force MTU).
Force Motors reports a strong operational recovery: Q3 FY26 standalone sales at ₹2,110 crore (up 13% YoY) and 9M sales at ₹6,451 crore (up 13.8%), coupled with a sharp improvement in profitability where Q3 PBT margin reached 16% and YTD PBT rose 62%, indicating improving margin conversion across operations.
Listed peers in Passenger Cars & Utility Vehicles: Mahindra & Mahindra Ltd, Hyundai Motor India Ltd, Tata Motors Passenger Vehicles Ltd, Olectra Greentech Ltd, Mercury EV-Tech Ltd, Hindustan Motors Ltd.
Valuation & Returns
10 Jul 2026At ₹18,151.4 a share on 10 Jul 2026, Force Motors Ltd (FORCEMOT) was valued at a price-to-earnings ratio of 19.74x against an industry P/E of 12.68x and a price-to-book of 7.88x on a book value of ₹2,302.19 per share as of Mar 2025. Solomo computes return on equity of 39.95% and return on capital employed of 49.79% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 19.74x
- Industry P/E
- 12.68x
- P/B
- 7.88x
- EPS (TTM)
- ₹919.65
- Book value / share
- ₹2,302.19
- ROE
- 39.95%
- ROCE
- 49.79%
- ROA
- 23.6%
- Debt / equity
- 0.01x
- Dividend yield
- 0.22%
- EBITDA margin
- 19.93%
- 52-week range
- ₹14,911.45 – ₹26,485.95
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Force Motors Ltd (FORCEMOT) reported revenue of ₹9,057 crore, net profit of ₹1,212 crore and earnings per share of ₹919.55. That compares with revenue of ₹8,072 crore and net profit of ₹801 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹2,550 crore and net profit ₹279 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 3,240 | 5,029 | 6,992 | 8,072 | 9,057 |
| Net profit (₹ cr) | -91 | 134 | 388 | 801 | 1,212 |
| EPS (₹) | -69.12 | 101.42 | 294.54 | 607.71 | 919.55 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 9.90% | 21.25% | 35.56% | 15.44% |
| Profit growth | 18.12% | 68.91% | - | 106.30% |
| Stock price CAGR | 20% | 64% | 89% | 10% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 61.63% of Force Motors Ltd (FORCEMOT) (unchanged from the previous quarter), foreign institutional investors (FII) hold 9.52% and domestic institutional investors (DII) hold 1.46%. Market capitalisation was ₹23,917 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2001.
Largest disclosed public shareholders in Jun 2026: Manohar Devabhaktuni 1.2%, HUF 1.12%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 61.63% | - | 9.52% | 1.46% | 38.37% |
| Mar 2026 | 61.63% | - | 10.93% | 1.76% | 38.37% |
| Dec 2025 | 61.63% | - | 10.46% | 1.8% | 38.37% |
| Sep 2025 | 61.63% | - | 10.27% | 1.48% | 38.37% |
| Jun 2025 | 61.63% | - | 9.77% | 1.66% | 38.37% |
| Mar 2025 | 61.63% | - | 8.35% | 1.43% | 38.37% |
| Dec 2024 | 61.63% | - | 8.15% | 0.91% | 38.37% |
| Sep 2024 | 61.63% | - | 7.89% | 0.92% | 38.37% |