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Force Motors Q2 revenue rises 41% to ₹2,925 crore; plans ₹3,000 crore investment
Force Motors posted 41% quarterly revenue growth, while its first-half sales rose 23%, supported by demand for refreshed passenger vehicles.
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Force Motors reported a 41 per cent year-on-year increase in standalone revenue for the second quarter of FY2026-27, reaching ₹2,967 crore, as sales gained momentum following the transition to its updated Traveller N range and the introduction of the Urbania Deluxe. However, profit after tax (PAT) declined 17 per cent to ₹291 crore Y-o-Y.
Financial performance
For the quarter ended September 30, 2026, the automaker's earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 23 per cent year-on-year to ₹476 crore. Profit before tax (PBT) rose 24 per cent to ₹393 crore.
For the first half of FY2026-27, revenue increased 23 per cent to ₹5,445 crore. EBITDA and PBT both grew 13 per cent, reaching ₹842 crore and ₹682 crore, respectively. PAT for the six-month period stood at ₹504 crore, down 6 per cent year-on-year.
The company said its PAT figures are not directly comparable with the previous year's numbers because it recorded a one-time tax benefit of ₹85.46 crore in Q2 FY2025-26 after opting for the new tax regime under Section 115BAA. The benefit arose from deferred tax and minimum alternate tax (MAT) credit.
New models drive demand
Force Motors said total sales volumes during the first half grew 23 per cent year-on-year, with demand remaining healthy across its Traveller N range, Urbania Deluxe, Trax, Monobus and specialised vehicles.
The transition to the Traveller N range and the launch of the Urbania Deluxe required operational adjustments earlier in the financial year. Sales subsequently gathered pace, with the company reporting stronger volumes in the final two months of the quarter. Both new products have also generated customer interest and a healthy order pipeline.
Investment and electric mobility plans
Force Motors is planning an investment of approximately ₹3,000 crore to strengthen manufacturing capabilities and increase production capacity. The company aims to nearly double its output to around 80,000 vehicles.
It is also preparing to expand its electric mobility portfolio through the planned launch of the Traveller EV range. Separately, Project DigiForce is intended to improve customer engagement, strengthen the dealer network and increase operational efficiency.
