Force Motors Limited (FORCEMOT) AI Stock Analysis

• Market Cap: ₹298.02B
• Dividend Yield: 0.22%
• Average Volume (3M): 8.16K
• Price to Earnings (P/E): 16.7
• Beta (1Y): 1.22
• Revenue Growth: 14.54%
• EPS Growth: 126.08%
• Country: IN
• Employees: 4,473
• Sector: Services
• Sector Strength: N/A
• Industry: Auto - Manufacturers
• EPS (TTM): 308.21
• Shares Outstanding: 13,176,262
• 10 Day Avg. Volume: 9,256
• 30 Day Avg. Volume: 8,163
• PEG Ratio: 0.14
• Price to Book (P/B): 3.85
• Price to Sales (P/S): 1.45
• P/FCF Ratio: 19.32
• 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: ₹25,529.00
• Price Target Upside: 22.21% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: ₹24,510.00 ▲(17.33% Upside)
• Action: Reiterated Date: 04/09/26
• Date: Action: Reiterated 04/09/26

The score is primarily driven by strong financial performance (profitability improvement, solid growth, healthy cash conversion, and very low leverage). Offsetting this, technical momentum is currently muted (negative MACD and sub-50 RSI), while valuation is reasonable but supported by a low dividend yield.

Positive Factors

Improved profitability & margins

Force Motors shows a durable profitability turnaround: gross and operating margins expanded materially and net margin moved positive to 9.9%. Sustained margin improvement indicates better cost control, pricing power or mix shift that supports longer-term earnings resilience across cycles.

Negative Factors

Low shareholder income yield

A very low dividend yield limits recurring cash returns to investors and suggests management prioritizes reinvestment over distributions. For income-focused holders this reduces the stock's appeal and indicates less direct shareholder cash visibility through dividends.

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 bus...

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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 bus...

How the Company Makes Money

Force Motors primarily makes money by selling vehicles manufactured under its own brands into domestic and export markets. Revenue is generated from (1) sales of commercial and utility vehicles (including vans/light commercial vehicles and multi-u...

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Force Motors primarily makes money by selling vehicles manufactured under its own brands into domestic and export markets. Revenue is generated from (1) sales of commercial and utility vehicles (including vans/light commercial vehicles and multi-u...

Force Motors Limited Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	86.24B	80.72B	69.92B	50.29B	32.40B	20.01B
Gross Profit	24.59B	22.02B	19.16B	11.40B	6.80B	6.18B
EBITDA	13.08B	11.22B	9.30B	3.98B	963.80M	530.10M
Net Income	10.77B	8.01B	3.88B	1.34B	-910.80M	-1.24B
Balance Sheet
Total Assets	53.42B	51.34B	44.15B	40.13B	36.61B	32.38B
Cash, Cash Equivalents and Short-Term Investments	12.04B	5.07B	4.48B	1.40B	721.00M	347.20M
Total Debt	0.00	174.30M	5.25B	9.55B	10.69B	6.42B
Total Liabilities	18.33B	20.98B	21.57B	21.36B	19.11B	13.98B
Stockholders Equity	35.06B	30.33B	22.55B	18.75B	17.48B	18.38B
Cash Flow
Free Cash Flow	479.60M	6.05B	8.06B	2.72B	-3.89B	-4.46B
Operating Cash Flow	2.70B	9.71B	10.14B	5.32B	184.20M	73.40M
Investing Cash Flow	-2.02B	-3.51B	-1.98B	-2.56B	-3.56B	-3.33B
Financing Cash Flow	-1.71B	-5.62B	-5.09B	-2.07B	3.75B	2.93B

Force Motors Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20889.75
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FORCEMOT, the sentiment is Positive. The current price of 20889.75 is below the 20-day moving average (MA) of 21104.19, below the 50-day MA of 21946.54, and above the 200-day MA of 18806.01, indicating a bullish trend. The MACD of -82.88 indicates Negative momentum. The RSI at 55.53 is Neutral, neither overbought nor oversold. The STOCH value of 93.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:FORCEMOT.

Force Motors Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FORCEMOT	72 Outperform	₹298.02B	16.68	―	0.22%	14.54%	126.08%
TCI	70 Outperform	₹77.82B	18.01	―	0.94%	9.97%	16.28%
OLECTRA	65 Neutral	₹97.22B	53.03	―	0.03%	34.02%	27.30%
TCIEXP	63 Neutral	₹20.98B	25.07	―	1.37%	-2.79%	-26.28%
WELENT	63 Neutral	₹61.27B	74.06	―	0.58%	9.11%	16.30%
DELHIVERY	57 Neutral	₹351.81B	190.78	―	―	9.17%	1685.95%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%

Force Motors Limited Corporate Events