Force Motors, the flagship company of the Abhay Firodia Group, made headlines on July 24, 2025, when its stock surged 19.6% intraday to hit a record high of ₹20,500 per share. This remarkable rally not only pushed the company past the ₹20,000 mark for the first time but also placed it among the elite list of just ten companies in India trading at such high levels.
The surge followed the company’s stellar Q1FY26 results, which beat Street estimates on every front. From skyrocketing profit numbers to operational efficiency and a major strategic leadership appointment — here’s a detailed look into what’s powering Force Motors’ meteoric rise.
Q1FY26 Results: Profit Soars 52% YoY
Force Motors reported a consolidated net profit of ₹176 crore in Q1FY26, a jump of 52% YoY compared to ₹116 crore in Q1FY25. While the profit in the previous March quarter was higher at ₹435 crore, it was largely supported by other income of ₹418 crore, making this quarter’s operating performance far more significant.
Key Financial Highlights (Q1FY26 vs Q1FY25):
| Metric | Q1FY26 | Q1FY25 | Change |
|---|---|---|---|
| Net Profit | ₹176 crore | ₹116 crore | ↑ 52% |
| Revenue from Operations | ₹2,297 crore | ₹1,885 crore | ↑ 22% |
| EBITDA | ₹332 crore | ₹249 crore | ↑ 33.3% |
| EBITDA Margin | 14.4% | 13.2% | ↑ 120 bps |
This performance underlines the company’s operational strength and growing market demand across its vehicle segments.
Sales Performance: Domestic Growth Shines
In the June 2025 quarter, Force Motors reported healthy domestic vehicle sales of 2,801 units, up from 2,465 units in the same quarter last year — marking a 13.6% YoY growth.
These included:
- Small Commercial Vehicles (SCVs)
- Light Commercial Vehicles (LCVs)
- Utility Vehicles (UVs)
Exports stood at 88 units, remaining flat YoY. Notably, the company has exited its tractor business as of last year to focus on its core strengths in the commercial and utility segment.
Business Overview: Full-Spectrum Automobile Powerhouse
Force Motors is a fully vertically integrated automobile company — it designs, develops, and manufactures its own automotive aggregates, engines, chassis, gearboxes, and axles. Its product range spans:
- LCVs (like Traveller and Trax)
- MUVs & SUVs
- SCVs
- Luxury Vans and Ambulances
This diversified portfolio gives the company an edge in both rural and urban transportation sectors, positioning it well in India’s growing commercial vehicle demand post-pandemic.
Strategic Leadership Change: Anshul Saxena Joins as VP – Corporate Strategy
In a significant boardroom development, Force Motors has appointed Anshul Saxena as Vice President – Corporate Strategy effective July 23, 2025. His appointment was approved by the Board on the recommendation of the Nomination and Remuneration Committee.
Why It Matters?
Saxena will lead the company’s long-term strategic planning, explore new growth avenues, and oversee digital transformation and market expansion initiatives — critical elements as Force Motors competes in a rapidly evolving EV and AI-enabled auto landscape.
Stock Performance: Multibagger Returns in 2 Years
Force Motors’ stock has delivered jaw-dropping returns, especially over the past two years:
- YTD 2025: Up 205%, from ₹6,538 to ₹20,000+
- 2-Year Gain: Up 1,800%
- 5-Year Return: Nearly 2,000%
| Date | Share Price |
|---|---|
| Jan 2023 | ₹1,050 |
| Jan 2024 | ₹6,538 |
| Apr 2024 | ₹10,000 |
| Jul 24, 2025 | ₹20,500 |
In May 2025 alone, the stock rose 42%, its highest monthly return to date. Such consistent green candles across months indicate strong institutional and retail confidence.
Ownership Breakdown (As of June 2025)
According to Trendlyne data:
- Promoters hold 61.6%
- Foreign Portfolio Investors (FPIs): 9.8%
- Domestic Institutional Investors (DIIs): 1.7%
- General Public: 26.9%
The strong promoter holding signals long-term conviction, while rising FPI participation reflects global investor interest.
Outlook: Can the Rally Continue?
Given its:
- Strong operating performance
- Focused product strategy
- Solid management team
- Clean balance sheet
- Consistent profit and revenue growth
…Force Motors is positioned as a solid mid-cap to large-cap transition story. While valuations are now stretched due to the sharp run-up, further upside could come from:
- New product launches
- Electric vehicle (EV) plans
- Export expansion
Investors, however, should watch for global commodity price trends, input cost volatility, and economic demand cycles which can affect margins.
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