Pune: Force Motors Q2 FY27 performance showed strong growth in revenue and operating profit, with the company reporting standalone revenue of ₹2,967 crore for the quarter ended September 30, 2026, up 41% year-on-year.
EBITDA stood at ₹476 crore, registering 23% growth over the corresponding quarter.
Force Motors announced its financial results for the second quarter and first half of FY2026–27, reporting continued momentum across its product portfolio.
The company said sales momentum strengthened significantly during Q2 after an initial period of operational realignment linked to the transition to the new Traveller N Range and Urbania Deluxe.
Force Motors Q2 FY27 Financial Performance
According to the company, Force Motors Q2 FY27 revenue stood at ₹2,967 crore, representing 41% year-on-year growth.
EBITDA increased 23% to ₹476 crore, while Profit Before Tax (PBT) rose 24% to ₹393 crore.
Profit After Tax (PAT), however, stood at ₹291 crore, down 17% year-on-year. The company reported total debt as nil.
For the first half of FY2026–27, Force Motors reported revenue of ₹5,445 crore, up 23% year-on-year.
H1 EBITDA increased 13% to ₹842 crore, while PBT rose 13% to ₹682 crore.
PAT stood at ₹504 crore, down 6% year-on-year.
The company reported a sales CAGR of 30% over four years.
Force Motors said the year-on-year comparison of PAT and EPS for Q2 and H1 FY2026–27 is not comparable with the corresponding periods of FY2025–26 because of a one-time tax benefit recognised in the previous financial year.
The company had opted for the new tax regime under Section 115BAA of the Income Tax Act, 1961, in Q2 FY2025–26 and recognised a one-time tax benefit of ₹85.46 crore related to deferred tax and MAT credit.
H1 Sales Volumes Rise 23%
The Force Motors Q2 FY27 update also highlighted strong sales momentum during the first half of the financial year.
Total sales volumes in H1 FY2026–27 increased 23% compared with H1 FY2025–26, reflecting momentum across the company’s key product segments.
The new Force Traveller N Range and Urbania Deluxe received an encouraging market response, according to the company.
Force Motors said both products have generated strong customer interest and a healthy order pipeline, reinforcing its position in the shared mobility segment.
Demand remained healthy across the company’s core portfolio, including the Traveller N Range, Urbania Deluxe, Trax, Monobus and specialised vehicles.
The company also maintained a zero-debt balance sheet. Force Motors said its zero-debt position provides a strong financial foundation for continued investments in products, manufacturing capacity and market expansion.
Traveller N Range, Urbania Deluxe Drive Product Momentum
Commenting on the Force Motors Q2 FY27 performance, Prasan Firodia, Managing Director, Force Motors Limited, said, “The first half of FY2026–27 has been a period of transition and renewed momentum for Force Motors.
“The complete transition to the new Traveller N Range and the launch of the Urbania Deluxe marked important steps in strengthening our product portfolio.
While this involved a period of operational adjustment, our strong manufacturing capabilities and the efforts of our teams helped us regain momentum, with volumes picking up significantly over the last two months.”
Firodia said the response to both new products has been encouraging and pointed to a healthy order pipeline approaching the festive season.
He added, “We also look forward to expanding our electric mobility offerings with the launch of the Traveller EV range, as we continue to develop solutions aligned with evolving customer needs.”
Force Motors Plans ₹3,000 Crore Investment
As part of its long-term plans, Force Motors said it is planning an investment of approximately ₹3,000 crore to strengthen manufacturing capabilities and expand capacity.
The investment is also expected to support the company’s ambition of nearly doubling its output to around 80,000 vehicles.
Firodia said, “We are also investing for the long term. Our planned investment of approximately ₹3,000 crore will help strengthen our manufacturing capabilities, expand capacity and support our ambition of nearly doubling our output to around 80,000 vehicles.”
The company is also implementing Project DigiForce, which is aimed at improving customer engagement, strengthening its dealer network and making operations more efficient.
“Ultimately, these investments are about building a stronger organisation that can respond better to customer needs and sustain growth over the years.
As we enter the second half, our focus remains on meeting demand, building on the response to our new products and continuing to strengthen the business for the future,” Firodia said.
