Staff Writer
Pune: Force Motors Limited, one of India’s leading van manufacturers and a significant player in shared and specialised mobility solutions, has reported its best-ever performance for the third quarter of FY2025–26, continuing a strong growth trajectory through the year. The Pune-based company’s results underscore robust demand across domestic and export markets, alongside disciplined financial management that has kept its balance sheet debt-free.
For Q3 ending December 31, 2025, Force Motors posted a revenue of ₹2,155 crore, marking a 13% increase year-on-year, while revenue for the first nine months of FY26 rose 14% to ₹6,583 crore. The company’s profitability saw sharper gains, with EBITDA reaching ₹401 crore, a 63% increase from the same quarter last year, and ₹1,145 crore for the nine-month period, up 43% year-on-year. Profit before tax (PBT) before exceptional items grew 91% to ₹328 crore in Q3, and 62% to ₹931 crore for 9M FY26. Including exceptional items, PBT soared 214% to ₹539 crore, with profit after tax (PAT) reaching ₹403 crore, a remarkable 266% year-on-year growth.
Operationally, Force Motors maintained strong momentum across its product portfolio. Domestic sales volumes grew 25% in the first nine months, driven by continued demand for the Urbania, Traveller, Gurkha defence variants, Monobus, and Trax models. Export volumes rose 30% over the previous year, reflecting strong traction in light commercial vehicles, special vehicles, and utility vehicles. The Traveller platform continued to dominate its segment, maintaining a market share above 70%.
Commenting on the performance, Managing Director Prasan Firodia said, “The third-quarter results reflect steady demand across our core segments and improved operating leverage as volumes scaled through the year. Growth has been broad-based, supported by shared mobility, defence applications, and exports. Demand visibility remains healthy, particularly in intra- and inter-city passenger mobility, while institutional and fleet customers continue to prioritise reliable, purpose-built platforms. Our order pipeline and dealer-level enquiries provide reasonable visibility as we enter the final quarter of the year.”
Firodia added that the company was confident of closing the year on a strong note, citing supportive measures in the proposed Union Budget aimed at strengthening India’s manufacturing, infrastructure, and supply-chain capabilities.
In addition to financial and operational achievements, Force Motors strengthened its Board of Directors during the quarter with the appointment of three distinguished Independent Directors. Gautam Bambawale, a former Indian diplomat, brings international relations and strategic policy expertise. Nitin Kareer, former Chief Secretary of Maharashtra, contributes deep experience in public administration, urban governance, and fiscal management. Lt. Gen. Vinod Gulabrao Khandare (Retd.), a former Indian Army officer, adds insights in defence strategy, national security, and institutional leadership.
With a zero-debt status, strong domestic and export growth, and a bolstered leadership team, Force Motors appears well-positioned to sustain its record-breaking performance and capitalize on the continued expansion of India’s mobility and industrial sectors.
