Force Motors experienced a significant 40% decrease in profitability during the March quarter of FY26. The company’s net profit declined to Rs 278.5 crore from Rs 434.7 crore in the same period the previous financial year. Despite this decline, the automaker maintained steady growth in revenue.
Revenue for the quarter saw an 8.2% increase to Rs 2,550 crore compared to Rs 2,356 crore a year ago, driven by consistent domestic demand. Force Motors’ operating performance remained strong, with EBITDA rising by 25.8% to Rs 414.3 crore from Rs 329.2 crore.
Margins also saw a significant improvement, increasing to 16.3% from 14%, as per the company’s regulatory filing. The board has proposed a dividend of Rs 50 per equity share for FY26, pending approval at the upcoming annual general meeting by shareholders.
Force Motors observed robust growth in domestic markets with total sales in March rising by 14.4% year-on-year to 4,126 units. However, exports faced challenges, with shipments declining over 22% due to geopolitical disruptions, especially in West Asia. Including exports, total sales in March reached 4,199 units, a 13.5% increase from the previous year.
The company also noted an 8% rise in February sales. While the December quarter showed strong performance due to improved operating metrics and one-off gains, the latest results suggest a return to a more normalized earnings trajectory, despite stable core operational trends.
Shares of Force Motors closed at Rs 21,000 on the NSE before the earnings announcement.
