Force Motors secures major military vehicle contract for nearly 3,000 Force Gurkha units

Force Motors Limited has secured a significant military vehicle contract to supply 2,978 Force Gurkha vehicles to the Indian Defence Forces. The contract, awarded by the Directorate General of Capb, Devp (CD-13/14) General Staff Branch, IHQ of MoD (Army), underscores the company’s growing role in supporting the nation’s armed forces with rugged and mission-ready vehicles.

As the designated L1 vendor, Force Motors will deliver the vehicles in multiple tranches over a period of up to three years. The order is exclusively for the GS 4X4 800 kg Soft Top variant of the Force Gurkha, a vehicle renowned for its superior off-road performance and durability in extreme conditions.

Strengthening India’s Defence Capabilities with High-Performance Vehicles

The Indian Defence Forces have long relied on domestically manufactured, high-performance vehicles for their operational needs. The Force Gurkha vehicles selected for this contract are designed to handle the toughest terrains, ranging from deserts to high-altitude mountain regions.

Force Motors has been a trusted partner of the defence sector, supplying military-grade vehicles that meet stringent performance and safety standards. The Force Gurkha vehicles are engineered for exceptional maneuverability, superior ground clearance, and high water-wading capacity, making them well-suited for both the Indian Army and the Indian Air Force.

Prasan Firodia, Managing Director of Force Motors, stated that the company is honoured to strengthen its long-standing association with the armed forces. He emphasized that Force Motors remains committed to delivering reliable, rugged, and high-performance vehicles that align with the demanding operational needs of India‘s defence personnel.

Stock Performance and Market Sentiment

The announcement of this military vehicle contract has had a notable impact on Force Motors’ stock performance. As of 28 March 2025, shares of Force Motors Limited (NSE: FORCEMOT) closed at ₹9,045.85, reflecting a 2.96% increase from the previous trading session. The stock has surged by 35.83% over the past month and by 37.57% in the last three months, signaling strong investor confidence in the company’s growth prospects.

Force Motors’ earnings per share (EPS) currently stand at ₹384.24, with a price-to-earnings (P/E) ratio of 23.54. Its return on equity (ROE) for the year ending March 2024 was 17.2%, reflecting strong financial management.

Market analysts note that while Force Motors has positive technical indicators, limited analyst coverage makes it a high-risk, high-reward investment. TradingView’s analysis currently rates the stock as a “Strong Buy,” based on momentum and moving averages. However, investors seeking more stability may prefer a “Hold” strategy, monitoring performance as the company fulfills its defence contract.

Force Motors’ Legacy in the Military and Automotive Sector

Founded in 1958, Force Motors has evolved into a leading manufacturer of specialized vehicles, including light commercial vehicles, off-road utility vehicles, and defence-grade automobiles. With five state-of-the-art manufacturing facilities across India and an advanced R&D centre in Pune, the company continues to drive innovation in the military vehicle contract sector.

Beyond its presence in defence, Force Motors plays a key role in India’s automotive ecosystem. The company is the exclusive manufacturer of engines for Mercedes-Benz and BMW vehicles produced in India and operates a joint venture with Rolls-Royce Power Systems AG for high-performance engine production.

Expanding Military and Civilian Vehicle Offerings

In addition to the Force Gurkha vehicles, Force Motors has developed a robust product portfolio, including the Traveller series for commercial transport and the recently launched Urbania modular monocoque passenger van, which is now expanding into international markets.

The successful execution of this military vehicle contract is expected to bolster Force Motors’ reputation as a key supplier for India’s defence needs while reinforcing its expertise in manufacturing rugged, all-terrain vehicles.

With this contract, Force Motors not only strengthens its footprint in the Indian Defence Forces’ supply chain but also showcases its ability to deliver world-class military vehicles tailored for demanding operational environments.