Force Motors Ltd

Business Overview

• Automotive manufacturer focused on light commercial vehicles, engines, and high-tech aggregates.
• Exports to 25+ countries; pan-India sales and service network.
• JV with Rolls-Royce Power Systems for MTU engines.
• New LCV platforms: Traveller N and Urbania.
• Premium XOVINVE2N, MONOBUS, and TRAX modular platforms.

Key Operational Highlights

• Q1 FY27 standalone: YTD sales ₹2,417 cr; PAT ₹212 cr.
• YTD PBT ₹289 cr; PAT ₹212 cr; PBT growth 1%; PAT growth 14%.
• DigiForce: ₹150 cr; 2-year digital transformation across 200+ dealers and 70 service centers.
• Next-gen CRM, DMS, HRMS, cybersecurity, cloud SaaS.
• Lakshya HR transformation with SP Jain.
• ESG: 43.5% ESG-screened suppliers.
• GHG intensity down 38%; target 50% by 2030.
• Renewables: 31% electricity from renewables; target 50% by 2027.
• Zero waste: 85% diverted; Water: 10% reduction per vehicle.
• Women workforce 9%; training 22 hours/employee; target 32 by 2030.
• Export presence in 25+ countries; pan-India network.

Strategic Priorities & Outlook

• Digitization focus via DigiForce; 200+ dealerships and 70 service centres.
• HR transformation via Project Lakshya; SP Jain leadership programs.
• Vision: top ten global van manufacturers; export-led growth.
• Platform upgrades and new products to support growth.

Governance & Leadership

• MD: Prasan Firodia; Exec Dir Ops: Prashant Inamdar; CFO: Rakesh Maru.
• Independent Directors: Vallabh Bhanshali, Gautam Bambawale, Mukesh Patel, Vinod Khandare, Sonia Prashar, Nitin Kareer.
• Chairman: Dr. Abhay Firodia.
• JV: Force MTU Power Systems with Rolls-Royce Power Systems AG.

SMP resignation

• Amit Pramod Joshi, AVP, Corporate Strategy, resigned effective 17 July 2026 for personal reasons.

Dematerialisation status

• Dematerialisation requests received during the period were processed and confirmed to depositories.
• Securities dematerialised have been listed on stock exchanges where earlier issues are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within timelines.
• No exceptions, delays, or non-compliance noted.

Sales data – June 2026

• Domestic sales: 3,547 units, up 26.63% YoY.
• Export sales: 21 units, down 76.14% YoY.
• Total sales: 3,568 units, up 23.50% YoY.

Product launch

• Force Motors launched the New Force Traveller N Range on 5 May 2026.
• The new range covers ambulance, delivery van, and school bus applications.
• The company will transition its entire Traveller range to the new platform from May 2026.

Business impact

• The launch is intended to improve comfort, reliability, performance, and total cost of ownership.
• Future production will be aligned to the new Traveller N Range, replacing the current-generation Traveller.
• The Traveller continues to hold over 70% segment share, according to the company.

Operational features

• The product includes a digital cluster, 9-inch infotainment screen, improved NVH, and new HVAC.
• Manufacturing upgrades include robotics, automated door hemming, and improved quality systems.
• Bookings will open across Force Motors dealerships nationwide from mid-May 2026.