Force Motors reported a 13% year-on-year increase in standalone revenue to ₹9,167 crore in FY26, while profit before tax rose 55% to ₹1,304 crore and net profit grew 51% to ₹1,211 crore, marking its strongest full-year performance to date.
For the March quarter (Q4), revenue rose 9% to ₹2,584 crore and PBT increased 39% to ₹373 crore. However, net profit declined 36% to ₹274 crore due to a high base in the year-ago period, which included an exceptional gain.
Operating performance remained robust during the year, with EBITDA rising 39% to ₹1,593 crore, reflecting improved operating leverage and cost efficiencies. Q4 EBITDA grew 29% to ₹448 crore.
Segment Leadership
The growth was supported by broad-based demand across segments. Domestic wholesales increased around 20% year-on-year, while the company maintained over 70% market share in the van segment led by its Traveller platform. The Urbania range continued to scale up with over 100% growth during the year, while the Trax platform recorded more than 70% growth in volumes, driven by demand from rural and semi-urban markets.
The company also saw continued traction in its institutional and defence business, executing orders for specialised applications, which contributed to revenue diversification.
Operational Discipline
Force Motors said the improvement in financial performance was aided by a better product mix, operating discipline and higher absorption of fixed costs. The company remained debt-free during the year, according to the release.
Management indicated that it will continue to focus on core segments, including vans and utility vehicles, while expanding its presence in premium shared mobility. Demand from institutional and defence segments is also expected to remain a key driver.