Force Motors sets Apr 29, 2026 board meet for FY26

Board meeting date and agenda

Force Motors has scheduled a meeting of its Board of Directors for April 29, 2026. The key item on the agenda is approval of the company’s audited financial results for the financial year ended March 31, 2026. The board will also consider whether to recommend a dividend to shareholders, a decision that will be subject to shareholder approval.

The announcement comes at a time when investors are waiting for clarity on full-year FY26 performance and the sustainability of the strong earnings momentum the company has shown in recent quarters. Dividend expectations are also in focus because the company has a history of annual dividend payouts, including a recent dividend of ₹40 per equity share for FY 2023-24.

Trading window closure and compliance timeline

In connection with the upcoming board meeting, Force Motors’ trading window for its shares will remain closed until May 1, 2026. The company has also stated that the trading window restrictions run from April 1 to May 1, 2026, in line with SEBI regulations on insider trading. Normal trading activity is expected to resume once the window reopens on May 2, 2026.

Such trading window closures are standard practice around price-sensitive events like results and dividend recommendations, and typically apply to “designated persons” and their immediate relatives under the company’s code of conduct.

What shareholders are watching this time

For shareholders, the April 29 meeting has two clear triggers. First, the audited standalone and consolidated results for Q4 and FY26 will give a complete picture of profitability, cash generation, and balance sheet trends through March 2026. Second, the board’s dividend recommendation, and the final amount if declared, will be closely tracked by income-focused investors.

The market’s response will likely depend not only on headline earnings, but also on details investors usually look for in audited results, including segment-wise performance and any notes or disclosures that shape confidence in the quality and consistency of earnings.

Force Motors’ business profile

Force Motors is a diversified Indian auto manufacturer with a presence across multiple categories. The company manufactures light commercial vehicles (LCVs), utility vehicles (UVs), SUVs, tractors, and engines. This mix matters because demand cycles can vary across segments, and the audited results often provide more detailed segment-level trends than interim updates.

FY25 performance set a high base

The FY26 results come after a sharp jump in profitability in fiscal year 2024-25. During FY25, Force Motors reported net profit of ₹800.9 crore, up 106.3% year-on-year. Revenue rose 15.6% to ₹8,128.3 crore over the same period. The company also reported a significant reduction in long-term debt during that year.

This FY25 performance is relevant for FY26 expectations because it raised the base for year-on-year comparisons and increased investor focus on whether margins and volumes remain elevated. It also strengthened the dividend debate, since larger profits can expand the scope for distribution even when payout ratios remain conservative.

Recent quarterly and nine-month FY26 numbers in public domain

For the December 2025 quarter, the company reported net sales of ₹2,128.56 crore, a 12.65% year-on-year increase and 2.27% sequential growth from September 2025. It also reported operating profit margin (excluding other income) at 17.57%, compared with 12.26% in the year-ago quarter.

For Q3 FY26, Force Motors reported PBDIT of ₹401.07 crore versus ₹246.59 crore a year earlier. Operating profit excluding other income was reported at ₹374.01 crore. Interest cost was reported at ₹0.16 crore for the quarter, down from ₹4.12 crore a year earlier, which the company’s commentary linked to a transition towards a virtually debt-free balance sheet. Depreciation was ₹72.72 crore and other income was ₹27.06 crore.

On a nine-month basis for FY26 (April to December 2025), the company reported consolidated net profit of ₹933.11 crore on revenues of ₹6,507.21 crore, with year-on-year growth of 152.36% and 13.82% respectively.

Dividend track record and payout context

Force Motors has declared 18 dividends since September 23, 2003, according to the dividend history cited in the provided information. One of the recent entries shows an ex-date of September 10, 2025 for a final dividend of ₹40 per equity share.

The company’s recent dividend profile reflects a conservative payout approach. A dividend yield of 0.20% has been cited as among the lowest in the peer group, with an indicated payout of 6.58% of profits as dividends. At the same time, the company has been associated with a five-year dividend growth rate of 31.95%, suggesting that dividend per share has risen over time even if the payout ratio remains modest.

SEBI inquiry and company response

Investors are also watching developments related to a SEBI inquiry linked to the company’s Q2 FY25 financial disclosures and stock price movements observed in February 2024. Force Motors has stated that no irregularities have been found and that it anticipates no material impact from this inquiry.

While the April 29 board meeting is primarily focused on FY26 audited results and dividend consideration, any subsequent updates from SEBI related to the inquiry are expected to remain on investor radars.

Stock and valuation snapshot cited in the data

The provided information also includes a set of market metrics that frame investor expectations. Force Motors’ share price has been cited at ₹22,093.55, representing a 225.91% gain over the past year. The stock was also cited as trading 0.43% above a 52-week high of ₹21,999.95 and 255.74% above a 52-week low of ₹6,210.55.

The company’s market capitalisation has been cited at ₹29,111.04 crore, with EV-to-EBITDA at 20.65 times and EV-to-EBIT at 26.67 times. A PEG ratio of 0.45 has also been cited, alongside five-year sales CAGR of 29.12% and EBIT CAGR of 147.90%.

Key facts table

Why the April 29 outcome matters

For the market, the April 29 board meeting concentrates several moving parts into one event: audited FY26 numbers, the dividend recommendation, and the next set of disclosures that may address investor questions on segment performance and cash flow. The trading window closure reinforces the sensitivity of this disclosure window.

The next confirmed milestone is the audited results announcement following the board meeting, along with any dividend recommendation and timelines linked to shareholder approval processes.