Force Motors Limited, a leading Indian manufacturer of vans and specialised mobility vehicles, reported its strongest-ever third-quarter performance for the period ended December 31, 2025, extending its growth streak through FY2025–26. The company delivered record EBITDA and profit margins during the quarter, surpassing previous highs and reflecting improved operating leverage, disciplined execution, and sustained demand across key product categories. Performance was supported by a balanced mix of domestic sales, exports, and defence-related applications.
For the nine months ended FY26, domestic volumes increased by 25%, driven by strong demand for the Urbania, Traveller, Gurkha (defence variants), Monobus and Trax platforms. Export volumes grew 30% year-on-year across light commercial vehicles, utility vehicles and the Special Vehicles division. The company continued to maintain a zero-debt balance sheet, underscoring its financial discipline.
Force Motors’ Traveller platform retained clear leadership in its segment, consistently holding a market share of over 70%, reinforcing the brand’s position in shared and institutional mobility.
Commenting on the performance, Prasan Firodia, Managing Director, said demand remained steady across core segments, with healthy visibility in intra-city and inter-city passenger mobility, supported by fleet and institutional customers. He added that the company is confident of closing the year with its best financial performance to date.
During the quarter, the company strengthened its Board with the appointment of three Independent Directors, bringing expertise in diplomacy, public administration and defence strategy to support long-term governance and strategic oversight. Founded in 1958 by NK Firodia, Force Motors Limited was established with the aim of providing reliable and affordable mobility solutions. Over the years, the company has grown into a fully integrated automotive manufacturer with capabilities spanning vehicle design, development, and production, along with the manufacture of engines, aggregates, and components. Force Motors operates five manufacturing facilities across India and employs more than 10,000 people under the leadership of Dr Abhay Firodia.
The company’s research and development centre in Pune, supported by a team of over 1,000 engineers and designers, plays a central role in product innovation. Force Motors caters to domestic and international markets with vehicles tailored to specific regional requirements and exports to markets across the Middle East, Gulf region, Asia, Latin America, and Africa.
Force Motors also maintains long-standing partnerships with global automotive manufacturers. Mercedes-Benz and BMW have entrusted the company with the production and testing of engines for all cars and SUVs manufactured by them in India. Every Mercedes-Benz vehicle produced in India uses an engine manufactured at Force Motors’ Chakan facility in Pune, while all BMW cars and SUVs made in the country are powered by engines produced at the company’s Chennai plant, built to BMW’s global standards.
In addition, Force MTU Power Systems Pvt Ltd, a joint venture between Force Motors and Rolls-Royce Power Systems AG, manufactures high-performance 10- and 12-cylinder Series 1600 engines at its Chakan facility. These engines are supplied globally for power generation and rail applications. With a diverse product portfolio and strengthening domestic demand, Force Motors remains focused on sustaining growth across its mobility and manufacturing businesses.
