Force Motors Limited (FORCEMOT) Fair Value & Analysis
Consumer Cyclical · IN · Market cap ₹242B
Fair value as of: Aug 2, 2026
From 26 valuation models · updated 11 days ago
Share price +7.3% over the past month.
A solid business, but screening 27% overvalued on our models.
What matters now
- Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹8,828 to ₹22,035) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.
How to read this chart
60‑month range ₹914.49 – ₹25,776 · fair‑value band ₹8,828 – ₹22,035 · the ₹19,269 price screens above the ₹14,139 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 2, 2026.
Analysis
Force Motors Limited (FORCEMOT) currently trades at ₹19,269, while our model-based Fair Value estimate is ₹14,139, implying the stock looks roughly 26.6% overvalued today. The Quality Score stands at 65/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Force Motors Limited generated revenue of ₹90.6B at a net margin of 13.4%. Revenue grew 8.2% year over year. It earns a return on equity of 33.5%. The balance sheet holds a net cash position of ₹8.3B. Fundamentals as of Aug 2, 2026
Our scenario range runs from ₹8,828 (bear case) to ₹22,035 (bull case); at ₹19,269, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 27% below its 52-week high and 36% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 25% fair-value upside, at -27%, FORCEMOT screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (₹19,874) versus Dividend Discount (₹688.03). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 65 · Market factors (momentum, volatility) 45
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Force Motors Limited, an integrated automobile company, designs, develops, manufactures, and sells a range of automotive components, aggregates, and vehicles in India.
Full company description
Force Motors Limited, an integrated automobile company, designs, develops, manufactures, and sells a range of automotive components, aggregates, and vehicles in India. The company provides passenger vehicles, ambulances, school buses, and delivery van; small commercial, light commercial, multi utility vehicles, special vehicles, and spare parts; special utility vehicles, which include off-roaders/recreation vehicles and military vehicles; and agricultural tractors. Its product portfolio consists of urbania, a ground-up modular monocoque van platform for shared urban mobility; traveller, a platform that caters to passenger transport, cargo delivery, ambulances, and school buses; monobus; trax, a rugged utility vehicle platform for rural and last mile transport; special application vehicles; gurkha off-road vehicle; and electric vehicles. In addition, the company offers shared mobility solutions, commercial fleets, specialized transport, and defense solutions. It exports its products to various countries in the Middle East, Asia, Latin America, and Africa. The company was incorporated in 1958 and is based in Pune, India. Force Motors Limited operates as a subsidiary of Jaya Hind Industries Pvt. Ltd.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Force Motors Limited reported revenue of ₹90.6B in FY2026 versus ₹32.4B in FY2022, a compound +29.3%/yr. Reported net income was ₹12.1B in FY2026.
of which total revenue +12.2 pp · buybacks/dilution +0.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
FORCEMOT screens 27% overvalued. Compare with Toyota Motor Corporation →
Peer Group
Auto Manufacturers · 118 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Auto Manufacturers median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Auto Manufacturers stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Toyota Motor Corporation TM | $179.76 | $224.63 | +25% |
| BYD Company 81211 | HK$80.55 | HK$50.85 | -37% |
| Hyundai Motor Company 005380 | 425,000 KRW | 616,918 KRW | +45% |
| Ferrari N.V RACE | €351.60 | €167.67 | -52% |
| General Motors Company GM | $77.72 | $56.93 | -27% |
| Bayerische Motoren Werke Aktiengesellschaft BMWM5N | 1,909 MXN | 2,944 MXN | +54% |
| Ford Motor Company F | C$11.86 | C$4.00 | -66% |
| Mercedes-Benz Group BENZ | C$20.44 | C$35.15 | +72% |
| Maruti Suzuki India Limited MARUTI | ₹13,803 | ₹8,236 | -40% |
| Kia Corporation 000270 | 145,000 KRW | 350,994 KRW | +142% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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