Company Overview
Financial Performance Highlights (FY 2025-26)
Force Motors delivered its strongest-ever performance with consolidated revenue of ₹9,167 crore (13% YoY growth) and PAT surging 51% to ₹1,211 crore. Standalone performance showed revenue from operations at ₹9,05,654 lakhs (12.2% increase) with net profit of ₹1,21,126 lakhs (51.4% increase). The company maintained zero debt while achieving 20% domestic sales growth to 36,536 units. Exceptional items included government incentives of ₹28,863 lakhs from Madhya Pradesh, contributing to the strong bottom-line performance.
Operational Highlights
Product Performance: Traveller maintained over 70% market share, Urbania recorded over 100% growth in premium shared mobility, and Trax platform showed over 70% growth in rural/semi-urban markets. The defense segment commenced deliveries of Gurkha vehicles under ₹2,978 vehicle contract with Indian Army and Air Force.
Manufacturing Milestones: Produced 100,000th engine for BMW India (Chennai facility) and 200,000th engine for Mercedes-Benz India (Chakan facility). Five manufacturing facilities across India maintain ISO 14001, IATF 16949, ISO 45001 certifications with export presence in over 25 countries.
Strategic Initiatives
Project DigiForce: Digital transformation initiative including partnership with Zoho for CRM and Dealer Management System deployment, Force iPulse connected vehicle platform launch with Intangles collaboration, and digital capability training programs.
Project Lakshya: Human resources initiative focusing on leadership development, employee engagement, and cultural transformation.
Sustainability Performance
TÜV SÜD South Asia provided reasonable assurance on 9 Core Attributes of BRSR for FY 2025-26. Environmental targets achieved include 31% renewable electricity usage (target: 50% by 2027), 21% reduction in Scope 1 & 2 emission intensity (target: 50% by 2030), 9% reduction in water consumption per equivalent vehicle, and 85% waste diverted from landfill. Net-zero greenhouse gas emissions target by 2050. Social performance showed 9% women workforce representation (up from 3% in FY 2023-24) and 22 hours average training per employee.
Corporate Governance & Dividend
Board Composition: 9 Directors (3 Executive, 6 Non-Executive Independent) with 5 meetings held during FY 2025-26. The Board recommended a final dividend of ₹50 per share (500%) for FY 2025-26 with record date of September 9, 2026 and total payout of ₹6,588 lakhs.
67th Annual General Meeting
Date: September 16, 2026 | Time: 3:00 PM IST | Mode: Video Conference/Other Audio Visual Means
Agenda Items: Adoption of financial statements, dividend declaration, re-appointment of Mr. Prasan Abhaykumar Firodia as Managing Director, contribution to charitable funds up to ₹50 crore, and re-appointment of independent directors.
Audit Matters & Contingent Liabilities
Auditors Kirtane & Pandit LLP issued an unmodified opinion but highlighted two key audit matters: Contingent liabilities of ₹124 crore in duties and taxes litigations, and capitalization of product development costs requiring assessment of technical feasibility. Capital commitments stood at ₹249 crore for contracts remaining to be executed.
Subsequent Events & CSR
Acquisition of Veera Tanneries Private Limited completed on April 23, 2026 for ₹161.96 crore. CSR Expenditure of ₹10.16 crore focused on education, environment sustainability, healthcare, and skill development with ₹5.04 crore unspent amount transferred to separate account for ongoing education projects.