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Force Motors Limited
(FORCEMOT)
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Rating:74Outperform
Price Target:
₹20,720.00
▲(17.55% 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
Balance-sheet deleveraging
Near-zero net debt and a substantially larger equity base materially lower insolvency risk and increase financial flexibility. High ROE (~28.9%) on that capital base implies effective capital allocation and supports sustaining investment in product lines and service networks over the medium term.
Negative Factors
Gross-margin compression
A ~7 percentage-point drop in gross margin signals underlying cost inflation, adverse mix, or pricing pressure that can erode core profitability. If persistent, this reduces operating leverage benefits from higher volumes and makes earnings more sensitive to input-cost swings.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet deleveraging
Near-zero net debt and a substantially larger equity base materially lower insolvency risk and increase financial flexibility. High ROE (~28.9%) on that capital base implies effective capital allocation and supports sustaining investment in product lines and service networks over the medium term.
Read all positive factors
Force Motors Limited (FORCEMOT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹235.68B
Dividend Yield0.22%
Average Volume (3M)8.16K
Price to Earnings (P/E)18.8
Beta (1Y)1.48
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. Volume9,256
30 Day Avg. Volume8,163
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...
How the Company Makes Money
Force Motors makes money mainly through the sale of vehicles and related automotive products to dealerships, fleet operators, institutions, and other customers. Key revenue streams include (1) vehicle sales in its core segments (notably vans/light...
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 | 11.22B | 9.30B | 3.98B | 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
Neutral
17627.10
Price Trends
18188.71
Positive
19497.29
Negative
19458.49
Negative
Market Momentum
-70.24
Negative
56.15
Neutral
82.66
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FORCEMOT, the sentiment is Neutral. The current price of 17627.1 is below the 20-day moving average (MA) of 17886.69, below the 50-day MA of 18188.71, and below the 200-day MA of 19458.49, indicating a neutral trend. The MACD of -70.24 indicates Negative momentum. The RSI at 56.15 is Neutral, neither overbought nor oversold. The STOCH value of 82.66 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹235.68B | 18.84 | ― | 0.23% | 8.44% | 45.33% | |
71 Outperform | ₹2.15T | 37.23 | ― | 0.92% | 28.07% | 19.24% | |
62 Neutral | ₹108.74B | 61.25 | ― | 0.03% | 28.32% | 27.77% | |
62 Neutral | ₹82.17B | 52.61 | ― | 0.47% | 18.04% | 9.96% | |
58 Neutral | ₹4.22T | 20.56 | ― | 2.97% | 25.93% | 34.37% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:FORCEMOT
Force Motors Limited
18,690.00
645.62
3.58%
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459.70
135.71
41.89%
Force Motors Limited Corporate Events
Force Motors Sets Board Meeting for Q1 FY2026 Results, Closes Trading Window
Jul 22, 2026
Force Motors Limited has scheduled a meeting of its Board of Directors on 29 July 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter ended 30 June 2026. The company will also take on record the lim...
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.