Sebi seeks clarification from Force Motors on results disclosure, share price movement

Mumbai: Markets regulator the Securities and Exchange Board of India (Sebi) has sought information from Pune-based automaker Force Motors over its financial results disclosures and a sharp movement in its share price, the company said in regulatory filings.

Force Motors said it received an email from Sebi on March 4, 2026, seeking details related to its results disclosure made on February 12, 2024, for the quarter and nine months ended December 31, 2023. The regulator has also sought an explanation for the movement in the company's share price between February 15 and February 20, 2024 — a period during which the stock surged 21.8%, exchange data showed.

Sebi has also sought information pertaining to the company's results for the quarter and half-year ended September 30, 2024.


Force Motors said it will file suitable replies to the regulator but offered no further details. Shares of the company closed 1.7% higher at ₹21,815 on March.

For Q3 FY24 (quarter ended December 31, 2023), Force Motors reported revenue of ₹1,692 crore, up sharply from ₹1,304 crore in the year-ago period. Net profit stood at ₹85 crore.

For Q2 FY25 (quarter ended September 30, 2024), the automaker posted a net profit of ₹135.02 crore, up 43.83% year-on-year (YoY). Revenue from operations rose 7.75% to ₹1,941.33 crore, while profit before tax (PBT) climbed 44.09% to ₹211.48 crore.

For the first half of FY25, Force Motors reported a net profit of ₹250.75 crore on revenue of ₹3,826.23 crore. Strong demand for luxury engines supplied to global automakers such as BMW and Mercedes-Benz helped cushion a decline in its multi-seater van segment. The company has also maintained a zero-debt balance sheet, per its financial disclosures.