Force Motors Limited
Established in 1958, FML is the flagship company of the Abhay Firodia group. The company is a fully vertically integrated manufacturer of small and light CVs and MUVs. Under the auto components division, engines are assembled for MBIPL and BMW. The p...
Key Metrics
EPS
294.01
Current ratio
1.25
Debt/Equity
0.50
Debt/EBITDA
1.22
Interest coverage ratio
10.74
Operating Cashflow to total debt
0.89
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Leading position in the domestic LCV passenger segment and diversified revenue stream
Strong financial risk profile
Strong support from the promoters
Liquidity: Strong
Cons
Presence in niche segment susceptible to cyclicality in demand:
Profitability susceptible to macro-economic factors, industry cyclicality and raw material prices
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About Force Motors Limited bond.
This comprehensive profile covers key factual information about Force Motors Limited. Established in 1958, FML is the flagship company of the Abhay Firodia group. The company is a fully vertically integrated manufacturer of small and light CVs and MUVs. Under the auto components division, engines are assembled for MBIPL and BMW. The primary brands in LCVs and MUVs include Traveller, Urbania, T3 Buses, Trax, Citiline and Gurkha. JHIPL holds 57.4% stake in FML. EPS in Mar-2024 was 294.01. Current ratio in Mar-2024 was 1.25. Debt/Equity in Mar-2024 was 0.50. Debt/EBITDA in Mar-2024 was 1.22. Interest coverage ratio in Mar-2024 was 10.74. Operating Cashflow to total debt in Mar-2024 was 0.89. Total revenue for Mar-2025(E) was ₹8,977.96. Net income for Mar-2025(E) stood at ₹626.85. Total assets as of Mar-2024 were ₹4,414.69. Operating cash flow for Mar-2024 was ₹1,014.45. The company’s borrowing relationships include State Bank of India (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), The Hongkong and Shanghai Banking Corporation Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Kotak Mahindra Bank Limited (₹N/A Cr), The Hongkong and Shanghai Banking Corporation Limited (₹N/A Cr), State Bank of India (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), HDFC Bank Limited (₹N/A Cr). Peers and comparison entities consist of Force Motors Limited, Maruti Suzuki India Limited, Mahindra and Mahindra Limited, Tata Motors Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Leading position in the domestic LCV passenger segment and diversified revenue stream; Strong financial risk profile; Strong support from the promoters; Liquidity: Strong. Key risks include: Presence in niche segment susceptible to cyclicality in demand:; Profitability susceptible to macro-economic factors, industry cyclicality and raw material prices. Leadership team details include Abhaykumar Firodia (Chairman of the company and Executive Board member since 1987), Prasan Firodia (Managing Director and Executive Board member since 2003), Prashant V. Inamdar (Executive Director of Operations and Executive Board member since 2015), Sanjay Kumar Bohra (Chief Financial Officer), Rohan Sampat (Company Secretary and Compliance Officer), Atul Jain (Chief Financial Officer since 2022), Gaurav Deshmukh (Secretary and Compliance Officer), Dattatray Shekatkar (Non-Executive Independent Director), Vallabh Bhanshali (Independent Director), Sonia Prashar (Director). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.