Force Motors Sold 36,536 Units in FY25-26 With 20% YoY Growth

While the big CV names grab the headlines with their lakh-unit milestones, a Pune-based manufacturer quietly went about its own business in FY 2025-26. No fanfare. No massive launch events. Just 36,536 vehicles sold. And a 20% jump over the year before.

Force Motors Limited reported total domestic wholesales of 36,536 units in FY 2025-26, registering a 20% growth compared to 30,531 units in FY 2024-25. That's not small-company stuff. That's a deliberate, focused operation gaining serious ground across multiple segments at once.

And the breakdown of where that growth came from is where the story gets genuinely interesting.

Three Growth Drivers for Three Different Markets

Force Motors doesn't try to be everything. That's actually the point. Their growth in FY26 came from three very distinct pockets. Each targeting a different buyer, a different use case, a different part of India.

Force Traveler

The Traveller held the anchor. The Force Traveller van remains a dominant force, holding over 70% of its small commercial vehicle segment, fuelled by consistent demand for school transport and ambulances. 

If you've ever put your kids on a school van, or seen an ambulance parked outside a district hospital in a smaller city, there's a reasonable chance it wears a Force badge. That kind of embedded, institutional demand doesn't vanish overnight — and it didn't in FY26.

Urbania Van

The Urbania doubled. This is the one to watch. The Urbania range emerged as a key growth driver, recording more than 100% growth during the year. Positioned in the premium passenger mobility space, the model has gained acceptance among fleet operators, corporate mobility providers, and institutional buyers. A monocoque van platform going from niche curiosity to double-digit growth in the corporate and shared mobility space. That's a sign that Force is successfully moving up the value chain.

Trax for Tier 2 & 3 India

The Trax found its moment in Bharat. The Trax platform delivered a notable performance, with volumes rising by over 70% year-on-year. The growth was particularly strong in Tier-2 and Tier-3 markets, where demand for durable and cost-effective transport solutions remains high. While premium-city stories grab the spotlight, Force's rural and semi-urban play kept delivering in the markets that most OEMs still struggle to crack.

The Part That Has Nothing to Do With Vans

Here's what most coverage is treating as a footnote — and shouldn't.

Force Motors delivered the first batch of 600 Gurkha units to the Indian Army during the year, through its Special Vehicle Division. This isn't just a feel-good milestone. Force Motors had earlier secured a full order for 2,978 Gurkha units from the Indian Defence Forces, a contract that runs well beyond a single batch delivery.

Purpose-built vehicles for high-altitude terrain, off-road operations, and defence applications are a completely different revenue profile from selling school vans. They're high-value, institutionally anchored, and largely insulated from the kind of financing and consumer sentiment swings that rattle the commercial vehicle market. This reinforces Force Motors' longstanding association with defence forces and its capability to deliver purpose-built vehicles for demanding terrains and applications.

For Force Motors, this is a meaningful second pillar taking shape. Not just a one-time contract.

Exports Are Flashing a Caution Signal for Force

In March alone, the company closed the fiscal year on a firm note, with monthly domestic sales rising 14% to 4,126 units compared to 3,606 units in March 2025.

But the export side is where you need to read carefully. Export performance remained under pressure in March 2026, with sales declining to 73 units from 94 units in the same period last year, marking a decrease of 22.34 percent.

Full-year four-wheeler exports did grow 13% — so one weak month doesn't make a trend. But MD Prasan Firodia flagged something that every fleet buyer exposed to Gulf trade routes should note: he noted that the company has a meaningful presence in Gulf markets and is closely watching developments in the region given the evolving geopolitical situation. If West Asia tensions keep simmering, Force's export momentum could face headwinds in FY27.

The Financial Side Is Just as Interesting

Force Motors doesn't just look good on the sales charts right now. The company remains debt-free, reporting a Debt-to-Equity ratio of 0.00. Quarterly profits for December 2025 also saw a substantial 266% year-on-year increase.

A manufacturer growing at 20%, carrying zero debt, tripling profits quarter-on-quarter. That's a company with room to invest in the next phase without looking over its shoulder at a lender. Force Motors operates five manufacturing facilities across India and employs more than 10,000 people. The company also produces engines for Mercedes-Benz and BMW vehicles made in India and operates a joint venture with Rolls-Royce Power Systems for high-horsepower engines.

That engine manufacturing capability is often forgotten in CV discussions — but it's a genuine technology moat that keeps the company relevant beyond just its own product lineup.

What Should You Take Away?

If you run a school transport fleet, a corporate mobility operation, or a last-mile logistics business in a Tier-2 city, Force Motors is actively building for your use case. The Traveller's 70%+ market share in its segment isn't accidental. It's decades of service network, parts availability, and institutional trust.

Commenting on the year, MD Prasan Firodia said, "Our performance this year reflects the way we are steadily shaping the business — being more focused, disciplined, and aligned to the segments where we know and believe that we can lead."

That focus is exactly what made FY26 work for them. Not volume chasing. Not trying to outrun Tata or Mahindra on their own turf. Just deepening the moat where Force already has an edge.

The question for FY27 is whether the Urbania can sustain its 100%+ growth trajectory as the base gets higher and whether the Army order pipeline continues to deliver. If both hold, Force Motors could be looking at another standout year.

Also Read : FADA Reports Over 1 Lakh Trucks Sold in March 2026: 3rd Time in a Row