Force Motors Limited (FORCEMOT) AI Stock Analysis

• Market Cap: ₹219.08B
• Dividend Yield: 0.23%
• Average Volume (3M): 8.14K
• Price to Earnings (P/E): 25.4
• Beta (1Y): 1.08
• 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: 7,482
• 30 Day Avg. Volume: 8,139
• 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: ₹17,906.00
• Price Target Upside: 1.93% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 66 Neutral
• Price Target: ₹17,906.00 ▲(1.93% Upside)

Force Motors Limited's strong financial performance is the most significant factor, showcasing robust profitability and cash flow generation. However, technical analysis indicates potential short-term weakness, and the valuation suggests limited upside potential with a low dividend yield. The absence of earnings call data and corporate events does not impact the score.

Force Motors Limited Business Overview & Revenue Model

Company Description

Force Motors Limited (FORCEMOT) is an Indian automotive manufacturer primarily engaged in the production of commercial vehicles, utility vehicles, and components. Established in 1958, the company operates in various sectors including passenger vehicles, commercial vehicles, and tractors. Its core products include a range of vehicles such as light commercial vehicles, multi-utility vehicles, and agricultural tractors, catering to both domestic and international markets.

How the Company Makes Money

Force Motors generates revenue through multiple streams, primarily from the sale of its vehicles which include light commercial vehicles, multi-utility vehicles, and agricultural tractors. The company also earns income from spare parts and after-sales services for its vehicles. In addition, Force Motors has established partnerships with other automotive manufacturers, enabling it to collaborate on technology and expand its product offerings. The company's revenue model is supported by a combination of direct vehicle sales, service revenue, and the strategic alliances that enhance its market reach and operational efficiency.

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	84.84B	80.72B	69.92B	50.29B	32.40B	19.88B
Gross Profit	21.41B	22.42B	19.16B	2.90B	115.20M	6.18B
EBITDA	12.31B	11.49B	9.33B	6.00B	1.19B	375.30M
Net Income	8.61B	8.01B	3.88B	1.34B	-910.80M	-1.24B
Balance Sheet
Total Assets	0.00	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	0.00	174.30M	5.25B	9.55B	10.69B	6.42B
Total Liabilities	-30.36B	20.98B	21.57B	21.36B	19.11B	13.98B
Stockholders Equity	30.36B	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	184.20M	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: Positive
• Last Price: 17566.80
• 50DMA: Negative
• 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 17566.8 is above the 20-day moving average (MA) of 16900.08, below the 50-day MA of 18244.50, and above the 200-day MA of 12277.07, indicating a neutral trend. The MACD of -441.27 indicates Negative momentum. The RSI at 54.13 is Neutral, neither overbought nor oversold. The STOCH value of 84.38 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
TCIEXP	74 Outperform	₹26.26B	31.63	―	1.17%	-3.21%	-31.89%
TCI	70 Outperform	₹91.22B	21.35	―	0.84%	11.32%	20.27%
WELENT	68 Neutral	₹75.19B	23.65	―	0.55%	14.32%	4.35%
FORCEMOT	66 Neutral	₹219.08B	25.43	―	0.23%	14.81%	97.91%
DELHIVERY	62 Neutral	₹348.26B	174.63	―	―	7.99%	―
OLECTRA	58 Neutral	₹117.07B	83.08	―	0.03%	46.57%	70.29%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%