Pune : Force Motors Limited reported its strongest-ever third-quarter performance for FY2025–26, driven by robust demand, improved operating leverage and continued financial discipline. The company achieved record EBITDA and profit margins, extending its strong growth momentum from the first half of the fiscal year.
For Q3 FY26, revenue stood at ₹2,155 crore, registering a 13% year-on-year growth. EBITDA rose sharply by 63% to ₹401 crore, while Profit Before Tax (before exceptional items) increased 91% to ₹328 crore. After exceptional items, PBT surged 214% to ₹539 crore and Profit After Tax jumped 266% to ₹403 crore.
For the nine-month period ended December 31, 2025, revenue grew 14% year-on-year to ₹6,583 crore. EBITDA increased 43% to ₹1,145 crore, while PBT (after exceptional items) rose 99% to ₹1,142 crore. PAT climbed 153% to ₹938 crore. The company continued to maintain its zero-debt status and delivered a sales CAGR of over 35% over the past three years.
Operationally, domestic volumes grew 25%, supported by strong demand across Urbania, Traveller, Gurkha (defence variants), Monobus and Trax platforms. Export volumes rose 30% year-on-year across Light Commercial Vehicles, Special Vehicles and Utility Vehicles. The Traveller platform maintained its leadership position with over 70% market share.
Managing Director Prasan Firodia said the performance reflects steady demand across core segments and improved operating leverage as volumes scaled during the year. He noted healthy demand visibility in intra-city and inter-city passenger mobility and expressed confidence in closing FY26 on a strong note, supported by continued focus on manufacturing, infrastructure and supply-chain resilience.
During the quarter, the Board inducted three Independent Directors — Gautam Bambawale, Nitin Kareer and Lt. Gen. Vinod G. Khandare (Retd.) — to strengthen governance and strategic oversight.