Force Motors Q2 results: net profit falls 16.2% to Rs 293.9 crore

Force Motors said in a filing with the National Stock Exchange that its consolidated net profit for the quarter ended 30 September 2026 (Q2 FY27) was Rs 293.9 crore, down 16.2% from Rs 350.7 crore a year earlier. Revenue from operations rose 40.5% to Rs 2,924.7 crore. The board approved the unaudited results on 28 October 2026.

What Happened

The filing gives unaudited consolidated results, reviewed by the statutory auditors, in Rs crore.

Revenue from operations was Rs 2,924.66 crore, against Rs 2,081.40 crore in the September 2025 quarter and Rs 2,440.01 crore in the June 2026 quarter. That is growth of 40.5% year on year and 19.9% from the previous quarter.

Profit before tax was Rs 395.54 crore, up 24.7% from Rs 317.18 crore a year earlier. Net profit for the period was Rs 293.91 crore, of which Rs 293.88 crore is attributable to the owners of the company. That is 16.2% below the year-earlier Rs 350.70 crore and 35.7% above the Rs 216.59 crore of the June 2026 quarter. Basic and diluted earnings per share were Rs 223.03, against Rs 266.14 a year earlier.

The filing explains the difference between profit before tax and net profit. Total tax expense this quarter was Rs 101.63 crore. In the year-earlier quarter the company recorded a tax credit of Rs 33.52 crore, because it recognised a one-time benefit of Rs 85.46 crore in tax expense when it opted for the new tax regime under Section 115BAA of the Income Tax Act. The company says profit and earnings per share for those periods are therefore not comparable.

For the half year ended 30 September 2026, revenue from operations was Rs 5,364.67 crore, up 22.5% from Rs 4,378.65 crore, and net profit was Rs 510.50 crore, down 3.1% from Rs 527.06 crore.

The filing also says the company completed the acquisition of all the equity shares of Veera Tanneries Private Limited under an agreement dated 23 April 2026. The company now consolidates that firm as a wholly owned subsidiary, so figures from before the acquisition are not comparable.

What It Means

Revenue and profit before tax grew strongly from a year earlier, while net profit fell because the year-earlier figure was lifted by the one-time tax benefit. The company also says it has made provisions under the End-of-Life Vehicles Rules, 2025, which place producer responsibility for scrapping old vehicles on manufacturers. This report states what the company disclosed and does not forecast results.

Source: Company filing on NSE