Force Motors Q2 revenue rises 41%; ₹3,000 crore plan targets 80,000 vehicles

By Geeta · 30 Oct, 2026

Force Motors reported 41% Q2 revenue growth and announced a ₹3,000 crore capacity plan aimed at nearly 80,000 vehicles, with a Traveller EV range also planned for future fleet demand.

Force Motors Q2 revenue rises 41%; ₹3,000 crore plan targets 80,000 vehicles

Force Motors reported a 41% year-on-year rise in standalone revenue for the quarter ended 30 Sep 2026 and announced a planned ₹3,000 crore investment to expand manufacturing capacity. For India’s fleet and shared-mobility operators, the announcement points to a larger future supply pipeline and a planned Traveller EV range, but it does not yet publish a new EV price, range or launch date.

The update was issued in Force Motors’ 28 Oct 2026 results release. Hindustan Times and ET Auto independently reported the results, while the company’s exchange filing provides the consolidated figures.

Key takeaways

Force Motors’ official release reported standalone Q2 revenue of ₹2,967 crore, up 41% year on year for the quarter ended 30 Sep 2026.
The exchange filing and ET Auto reported consolidated revenue from operations of ₹2,924.66 crore, up 40.5% year on year for the same quarter.
H1 FY2026–27 revenue was ₹5,445 crore, up 23% year on year, according to the company’s 28 Oct 2026 release.
Force Motors plans to invest approximately ₹3,000 crore and says the programme could take output to around 80,000 vehicles; the timing and model-wise split are not yet disclosed.
A Traveller EV range is planned, but Force Motors has not announced its price, battery specification, driving range or launch date in the release.

What Force Motors reported for Q2

The revenue figures need to be read with their reporting basis. Force Motors’ official release presents standalone revenue of ₹2,967 crore for the quarter ended 30 Sep 2026, a 41% year-on-year increase. Hindustan Times reported the same standalone figure and growth on 29 Oct 2026.

The National Stock Exchange filing presents consolidated revenue from operations of ₹2,924.66 crore for the quarter ended 30 Sep 2026, up 40.5% from ₹2,081.40 crore a year earlier. ET Auto reported that consolidated figure on 28 Oct 2026. These are not contradictory sales claims: one is standalone revenue and the other is consolidated revenue from operations.

Profitability was less straightforward. The company release reported standalone profit after tax of ₹291 crore, down 17% year on year, while ET Auto reported consolidated profit after tax of ₹293.91 crore, down 16.2%, for the quarter ended 30 Sep 2026. Force Motors and the exchange filing both noted that the year-ago quarter included a one-time ₹85.46 crore tax benefit after the company moved to the new tax regime, so the year-on-year profit comparison is not like-for-like.

For the six months ended 30 Sep 2026, the company reported revenue of ₹5,445 crore, up 23% year on year, and H1 sales volumes also grew 23% from the corresponding period of FY2025–26. The company attributed the improvement to stronger momentum after the transition to the new Traveller N range and the launch of the Urbania Deluxe.

₹3,000 crore capacity plan: what is confirmed

Force Motors Managing Director Prasan Firodia said the company’s planned investment of approximately ₹3,000 crore will strengthen manufacturing, expand capacity and support an ambition to nearly double output to around 80,000 vehicles. This is a company target announced on 28 Oct 2026, not a confirmed production volume or a promise of immediate deliveries.

The release does not provide a plant-by-plant investment schedule, a model-wise capacity allocation or a date by which the 80,000-vehicle ambition will be reached. For fleet buyers and shared-mobility operators, the practical effect will depend on when additional capacity becomes operational, how it is allocated across the Traveller, Urbania, Trax, Monobus and specialised-vehicle ranges, and whether dealer and service networks expand with it.

Traveller EV is a plan, not a priced launch

Force Motors also said it is preparing to expand its electric-mobility offering with a Traveller EV range. The 28 Oct 2026 release does not disclose a price, battery size, claimed range, charging time, seating configuration or sales start date. Those details matter more to an operator than the announcement alone because route length, payload, charging access and downtime determine whether an electric commercial vehicle fits a particular duty cycle.

Operators comparing an existing diesel or CNG vehicle with a future electric option can first map fuel or energy use against their routes with the fuel cost calculator. The result should be treated as a scenario, because actual consumption varies with load, traffic, driving pattern and vehicle condition.

Fuel rates also change the running-cost comparison. The live fuel prices page provides the current petrol, diesel and CNG reference points, with the relevant city and date checked before a monthly estimate is made.

For a possible Traveller EV, route planning also needs a charging-access check rather than only a national sales headline. The state-wise EV charging directory can help identify the infrastructure available along the intended operating geography.

What fleet operators should watch next

The next useful signals will be the timing of capacity spending, the actual production and delivery trend after the Traveller N transition, and any formal details of the Traveller EV. A strong order pipeline can support production, but it does not by itself establish delivery dates, final vehicle prices or operating costs.

Force Motors’ Q2 update therefore matters less as a promise of an immediate change for private motorists and more as a signal about the supply of vans and shared-mobility vehicles in India. Fleet operators can track whether the company’s capacity target is followed by new plant milestones, model-specific availability and published EV specifications. For trip and duty-cycle planning after a vehicle is selected, the road-trip planner can help test route distance and stop requirements.

Reader takeaway

Force Motors has reported strong first-half momentum, but the most consequential parts of the update remain forward-looking: a ₹3,000 crore investment plan, an output ambition of around 80,000 vehicles and a future Traveller EV range. Until the company publishes timing, pricing and technical details, fleet decisions should be based on currently available vehicle specifications, written delivery terms, service support and the route-specific cost of fuel or charging.