Force Motors reports strongest Q3 performance in FY2025–26

Force Motors Limited posted its best-ever third quarter performance for the period ended December 31, 2025, continuing the steady growth seen earlier in the financial year. The company reported improvements across revenue, profitability and volumes, supported by domestic demand, exports and operating leverage.

For Q3 FY26, Force Motors recorded standalone revenue of ₹2,155 crore, a year-on-year increase of 13 per cent. Earnings before interest, tax, depreciation and amortisation rose to ₹401 crore, up 63 per cent compared to the same quarter last year. Profit before tax before exceptional items stood at ₹328 crore, reflecting a 91 per cent growth, while profit after tax after exceptional items increased to ₹403 crore, up 266 per cent year on year.

For the nine-month period ended December 2025, revenue reached ₹6,583 crore, marking a 14 per cent increase over the corresponding period last year. EBITDA for the same period rose 43 per cent to ₹1,145 crore. Profit before tax after exceptional items stood at ₹1,142 crore, while profit after tax rose to ₹938 crore. The company continued to operate with zero debt during the period.

Operationally, domestic volumes grew by 25 per cent over the first nine months of the financial year. Growth was supported by demand across models such as Urbania, Traveller, Gurkha defence variants, Monobus and Trax. Export volumes increased by 30 per cent year on year, driven by shipments across light commercial vehicles, special vehicles and utility vehicles.

Force Motors maintained a market share of over 70 per cent in the Traveller segment during the period. The company also reported sales growth at a compounded annual rate of over 35 per cent over the last three years.

Commenting on the results, the company said demand remained steady across shared mobility, defence-related applications and export markets. It added that order enquiries at the dealer level and existing pipelines provided visibility heading into the final quarter of the financial year.

With the third quarter concluded and the final quarter underway, Force Motors indicated that it expects to close FY2025–26 with its strongest financial performance to date, supported by stable demand conditions and operating efficiencies.

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