Pune: Force Motors Limited announced its financial results for the quarter ended December 31, 2025.
Force Motors Q3FY26 results reflect the company’s strongest third-quarter performance to date, with Force Motors reporting record EBITDA and profit margins for the quarter ended December 31, 2025.
Building on the momentum from the first half of the financial year, the company said the performance reinforces the robustness of its operating model, product portfolio, and execution capabilities.
Force Motors Q3FY26 Financial Performance Highlights
Force Motors reported revenue of ₹2,155 crore in Q3 FY26, representing 13% year-on-year growth, while 9M FY26 revenue reached ₹6,583 crore, up 14% YoY.
EBITDA for the quarter (Force Motors Q3FY26) stood at ₹401 crore, up 63% YoY, while 9M FY26 EBITDA reached ₹1,145 crore, up 43% YoY.
Also Read: Force Motors Domestic Wholesales Record 49% December Growth, Q3 Volumes Up 47%
Force Motors Q3FY26: Profitability also saw significant improvement:
- PBT (before exceptional items): ₹328 crore, up 91% YoY
- PBT (after exceptional items): ₹539 crore, up 214% YoY
- PAT (after exceptional items): ₹403 crore, up 266% YoY
For the nine-month period ending December 2025:
- PBT (after exceptional items): ₹1,142 crore, up 99% YoY
- PAT (after exceptional items): ₹938 crore, up 153% YoY
- The company maintained its zero-debt status, while reporting a sales CAGR of over 35% across three years.
Operational Momentum Continues in Force Motors Q3FY26
- Operational performance remained strong during the first nine months of FY26:
- Domestic volumes grew 25%, supported by demand across Urbania, Traveller, Gurkha (defence variants), Monobus, and Trax.
- Export volumes increased 30% YoY across Light Commercial Vehicles, Special Vehicles Division, and Utility Vehicles.
- The Traveller platform maintained market leadership with over 70% market share.
Also Read: Force Motors November 2025 Sales Jump 59 Per Cent on Strong Domestic Demand
Commenting on the performance, Prasan Firodia, Managing Director, Force Motors Limited, said: “Force Motors Q3FY26 performance in the third quarter reflects steady demand across our core product segments and improved operating leverage as volumes have scaled through the year.
Growth has been broad-based, supported by continued traction in shared mobility, defence-related applications, and export markets.”
He added: “Demand visibility remains healthy, particularly in intra-city 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.”
On the outlook for the remainder of the year, he said: “Given the momentum we have gained and with Q4 underway, we are confident of closing the year on a strong note and delivering our best financial performance to date.
This confidence is supported by the proposed Union Budget, which underscores the continued focus on strengthening India’s long-term economic fundamentals, including manufacturing, infrastructure and supply-chain resilience.”
Board Strengthening During the Quarter
During the quarter, Force Motors appointed three Independent Directors to its Board:
- Gautam Bambawale, former Indian diplomat
- Nitin Kareer, former Chief Secretary to the Government of Maharashtra
- Lt Gen Vinod Gulabrao Khandare (Retd.), former Indian Army officer
The company stated that their diverse experience will support the Board’s oversight role and contribute to its long-term direction.
