Integrated Filing — IndAS



General information about company

Scrip Code 500033
NSE Symbol FORCEMOT
MSEI Symbol NOTLISTED
ISIN INE451A01017
Name of company Force Motors Ltd
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 28-10-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 21-10-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Automobile
Start date and time of board meeting 28-10-2026   14:52:00
End date and time of board meeting 28-10-2026   16:20:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 2,92,466.00 5,36,467.00
Other income 4,283.00 8,093.00
Total income 2,96,749.00 5,44,560.00
2 Expenses
(a) Cost of materials consumed 2,17,631.00 3,92,534.00
(b) Purchases of stock-in-trade 0.00 0.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (4,846.00) (3,884.00)
(d) Employee benefit expense 19,925.00 39,437.00
(e) Finance costs 212.00 216.00
(f) Depreciation, depletion and amortisation expense 8,173.00 15,913.00
(f) Other Expenses
1 Other expenses 20,110.00 38,811.00
2 Expenses capitalized (3,716.00) (6,572.00)
Total other expenses 16,394.00 32,239.00
Total expenses 2,57,489.00 4,76,455.00
3 Total profit before exceptional items and tax 39,260.00 68,105.00
4 Exceptional items 0.00 0.00
5 Total profit before tax 39,260.00 68,105.00
6 Tax expense
7 Current tax 9,295.00 17,052.00
8 Deferred tax 868.00 781.00
9 Total tax expenses 10,163.00 17,833.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 29,097.00 50,272.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 294.00 778.00
16 Total profit (loss) for period 29,391.00 51,050.00
17 Other comprehensive income net of taxes (650.00) (108.00)
18 Total Comprehensive Income for the period 28,741.00 50,942.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 29,388.00 51,044.00
Total profit or loss, attributable to non-controlling interests 3.00 6.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 28,738.00 50,936.00
Total comprehensive income for the period attributable to owners of parent non-controlling interests 3.00 6.00
21 Details of equity share capital
Paid-up equity share capital 1,318.00 1,318.00
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 223.03 387.39
Diluted earnings (loss) per share from continuing operations 223.03 387.39
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 223.03 387.39
Diluted earnings (loss) per share from continuing and discontinued operations 223.03 387.39
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes : 1. The limited review of financial results for the Quarter and half-year ended 30 September 2026 has been carried out by the Statutory Auditors. 2. The Company has completed the acquisition of entire equity shares of Veera Tanneries Private Limited (VTPL), vide a Share Purchase Agreement dated 23 April 2026. Pursuant to such acquisition, VTPL has now become a wholly owned subsidiary of the Company and accordingly the financial results of VTPL have been consolidated as per the applicable Accounting Standards. The transaction has been accounted as an asset acquisition. The total acquisition cost has been allocated to the identifiable assets and liabilities of the entity based on their relative fair values as on the acquisition date. Accordingly, the previous period figures before acquisition of VTPL are not comparable. 3. The Ministry of Environment, Forest and Climate Change has notified the Environment Protection (End-of-Life Vehicles) Rules, 2025 (ELV Rules) effective 01st April 2025, imposing Extended Producer Responsibility (EPR) on vehicle manufacturers for scrapping old vehicles and such obligations are to be fulfilled through the purchase of EPR certificates from registered Vehicle Scrapping Facilities via a Centralised Online Portal. As per best estimates, the Company has recognised provisions in the financial statements. 4. The Company had opted for the new tax regime u/s 115BAA of the Income tax Act, 1961 in the second quarter of previous financial year (2025-26) and consequently the Company had recognized a one-time benefit in Tax Expense in Profit and Loss Account of Rs.85.46 Crores owing to Deferred tax and MAT credit. Thus, tax expense for Q2 and H1 of 2025-26 reflects the above stated benefit and therefore, is not comparable with Q2 and H1 of the current financial year (2026-27). Consequently, PAT and EPS for the same periods are also not comparable. 5. The Company is operating in single segment. 6. Previous period's figures have been re-grouped, re-arranged and re-classified wherever necessary. 7. The above results have been reviewed by the Audit Committee and approved by the Board of Directors in its meetings held on 28 October 2026.



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1,79,542.00
Capital work-in-progress 17,598.00
Investment property 1,298.00
Goodwill 1.00
Other intangible assets 45,994.00
Intangible assets under development 31,561.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 11,016.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets
1 Other Financial Assets 1,447.00
Total of other non-current financial assets 1,447.00
Total non-current financial assets 12,463.00
Deferred tax assets (net) 522.00
Other non-current assets
1 Other non-current assets 14,797.00
Total of other non-current assets 14,797.00
Total non-current assets 3,03,776.00
2 Current assets
Inventories 1,41,897.00
Current financial asset
Current investments 0.00
Trade receivables, current 19,615.00
Cash and cash equivalents 73,373.00
Bank balance other than cash and cash equivalents 25,152.00
Loans, current 181.00
Other current financial assets
Total of other current financial assets 1,41,170.00
Total current financial assets 2,59,491.00
Current tax assets (net) 1,107.00
Other current assets
1 Other current assets 22,331.00
Total of other current assets 22,331.00
Total current assets 4,24,826.00
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 7,28,602.00
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,318.00
Other equity 4,62,465.00
Total equity attributable to owners of parent 4,63,783.00
Non controlling interest 250.00
Total equity 4,64,033.00
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities
1 Other Financial Liabilities 169.00
Total of other non-current financial liabilities 169.00
Total non-current financial liabilities 169.00
Provisions, non-current 5,317.00
Deferred tax liabilities (net) 23,474.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
1 Other non-current liabilities 773.00
Total of other non-current liabilities 773.00
Total non-current liabilities 29,733.00
Current liabilities
Current financial liabilities
Borrowings, current 0.00
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 4,401.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 1,15,404.00
Total Trade payable 1,19,805.00
Other current financial liabilities
1 Other Financial Liabilities 6,864.00
Total of other current financial liabilities 6,864.00
Total current financial liabilities 1,26,669.00
Other current liabilities 61,746.00
1 Other current liabilities 61,746.00
Total of other current liabilities 61,746.00
Provisions, current 46,421.00
Current tax liabilities (Net)
Deferred government grants, Current
Total current liabilities 2,34,836.00
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 2,64,569.00
Total equity and liabilites 7,28,602.00
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurements of net defined benefit liability (656.00) (607.00)
2 Equity instrument through other comprehensive income (186.00) 402.00
3 Share of Other Comprehensive Income of Joint Venture 1.00 3.00
Total Amount of items that will not be reclassified to profit and loss (841.00) (202.00)
2 Income tax relating to items that will not be reclassified to profit or loss (191.00) (94.00)
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 0.00 0.00
5 Total Other comprehensive income (650.00) (108.00)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 68,105.00
Adjustments for reconcile profit (loss)
Adjustments for finance costs 216.00
Adjustments for decrease (increase) in inventories (16,299.00)
Adjustments for decrease (increase) in trade receivables, current (496.00)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (11,961.00)
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current 15,244.00
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 15,750.00
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 0.00
Adjustments for increase (decrease) in other non-current liabilities (3,450.00)
Adjustments for depreciation and amortisation expense 15,914.00
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 13,743.00
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current 154.00
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains 17.00
Adjustments for dividend income 42.00
Adjustments for interest income 6,403.00
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 0.00
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) (25.00)
Other adjustments for non-cash items 205.00
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 22,567.00
Net cash flows from (used in) operations 90,672.00
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 14,720.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 75,952.00
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 64.00
Purchase of property, plant and equipment 27,322.00
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 16,229.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 42.00
Interest received 7,122.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (42,500.00)
Net cash flows from (used in) investing activities (78,823.00)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 0.00
Dividends paid 6,588.00
Interest paid 216.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (6,804.00)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (9,675.00)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (9,675.00)
Cash and cash equivalents cash flow statement at beginning of period 83,048.00
Cash and cash equivalents cash flow statement at end of period 73,373.00